These are more a dream fro those that can't get a loan. They hardly exist at all and to think you can pick and choose what you want shows you don't understand how very rare they are if they exist at all.... more
Some properties are more desirable than others. Some properties aren't selling and the landlord drops the price of the vacant spaces to attract buyers. If your lease states a certain price and you agree to that price, they must charge you that price. Now if you agreed to a different price and you aren't be charged that price, I'd advise seeking legal help from an attorney.... more
If the price per square foot of the space has gone down then of course they are going to advertise it for the current market rate. That would be like saying the pound of ground beef you bought last week for $4.50 a pound is now going for $3.75 so they can't advertise it for less because you paid more.... more
I have done this before, but currently there are few sellers willing to do this. I do have a seller out in Rancho Cucamonga who is willing to. He owns several homes and with a reasonable down payment has expressed a desire to do this.... more
In order to ease our borrowers' frustration of making multiple offers and not getting them accepted, my company has recently rolled out a solution that has been providing great resultst...We call it "Keys on Time Guarantee".
This program guarantees to close the transaction on time, or the borrower gets $795 refunded to them. (we have never had to pay that money out so far)! We are the 27th largest non-depository Mortgage Bank in the United States, so we are closing our fair share of transactions.
We are closing these loans so quickly that we feel confident that we can help buyers write a contract that will stand out from the others; from reduced escrow days to the one of a kind "Keys on Time" Certificate that we provide to submit with the offer, and stand out from the crowd of offers.
Contact me if you want to learn more?
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
NMLS 304353 - DRE 01380701... more
This is something that you should investigate thoroughly before proceeding. Since you will not be using the money to purchase the home, it will look like a "cash out" refi. Many banks today are not offering this type of loan. In addition since this will not be purchase money it may not be considered a non-recourse loan meaning should you default later on you will not be exempt from debt collection and taxes on the debt forgiven.
Speak with a lender and tax professional before proceeding to make sure you understand what your situation will be like if you decide to go this route.... more
I've included a link directly to my website's search results for available rentals in Cypress with a minimum of 3 bedrooms. All of the listings here are direct from the MLS, submitted by licensed real estate professions. You can rest assured these are legitimate rental listings (in regards to your other question, if you come across a rental on another website that seems too good to be true, it probably is)
Please get in touch if you would like more information on any of these properties, or any information on the area in general. You can reach me at (714)584-7154 or email@example.com... more
Considering rental and home prices have been consistently going up in Orange County, it might be difficult to save up to buy a house in a few years--and by then, homes may not be as affordable as they are today. There's really no predicting what's going to happen a few years from now, so the answer largely depends on your current financial situation and what your priorities are.
Security deposits will generally be cheaper on properties that are smaller and cheaper. It all depends on what the owner thinks is fair.
In terms of the cheapest route to home ownership, there are loan products available with minimal down payment costs to buyers. In some cases, you can pay as low as .5% down towards the purchase of a home--if you qualify. Of course, this means you will be paying a higher monthly payment on your mortgage, in addition to private mortgage insurance. That's just one solution, but ultimately it depends on your financial situation and what you're most comfortable with.
If you have any questions on homes or rentals in Cypress and Orange County, please get in touch with me at (714) 584-7154, or e-mail at firstname.lastname@example.org. I'm always happy to help.... more
Keep in mind that you're paying rent to someone who isn't paying their mortgage. Just taking your money and sticking it in their pockets. You would also want to make sure that the person who you are paying rent to is actually the owner not some scam artist who found a vacant house to rent out.
Good idea? Certainly not a good long term plan.... more
I don't know whether it's a scam or not, most of the really blatant scams start off with "hi my wife and i are missionaries to some foreign country and we need someone to rent our home that will care for it as it were their own...." However, I will say this, I would find it highly suspicious that a landlord would not require credit checks or a reasonable security deposit. And, if it sounds too good to be true, it probably IS. Having said that, I wonder if this ad isn't trying to attract people who want to 'rent to own'. Depending on the terms, that may not be a terrible option. I would, however, proceed with extreme caution going so far as to have an attorney review any paperwork required.... more
According to MLS, This home on Karen Closed escrow on 1/14/2011 for $500,000. If your looking for a house similar to the one on Karen please contact me. We can help you see whats on the market that needs your needs.
Brian Head, Realtor
Joel Feinstein Law
949 306-3556... more
It's not unusual for the mortgage broker to provide the appraiser with a copy of the purchase contract. (I don't think they should, but my opinion doesn't count!) Remember, the mortgage broker has an interest in getting this appraised for the amount that you offered. That appraisal is for the protection of the lender's interest in making the loan, and is not for your protection.
How do you feel about the value? Is it worth (to you) the $407K that you offered? Did your agent run comps and justify that value to you?
If you love the home, and can afford the payments, don't worry about the appraisal. If you are planning to stay in the property for 5 - 7 years, you will be ok. The important thing is to buy the house that fits your needs, wants and budget. An appraisal is really an opinion of value, and it would be very rare for two appraisers to find the exact same value without knowing the target that they are aiming for.... more
This is not legal advise, consult an attorney: Yes the bank can and will foreclose on the property for lack of payments. Since the 3 remaining siblings are not on the loan only on the title when the property forecloses they will not be liable as they are not responsible for the loan.
Once the property forecloses, title will revert back to the bank.
The question in my mind is, does the property have equity? if it does, they "may" consider paying off the bank what's owed and selling the property at a profit later. Our company offers bridge loans, just so you know.... more
I would get in touch with an agent you trust to do some research and inquiries regarding the property you are interested in. It is not unusual for a lockbox and sign to remain at the property after an offer has been accepted and the home has been 'sold'. The buyer still has the right to inspect the home. In addition, the loan and escrow will take at least 30 days to complete so the sign will likely remain during that period.
You do not have to pay cash for a bank owned property. Many, if not most, are purchased with a loan. That part of your conversation with this agent is suspect. Again, I would ask an agent you feel comfortable with and trust, to call the agent and find out what the story is with the property in question.
Best of luck to you.... more