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All Locations : Nationwide Real Estate Advice

  • All724K
  • Local Info60K
  • Home Buying265K
  • Home Selling46K
  • Market Conditions26K

Activity 506,093
A moment ago
Mantha478 asked:
She is complaining about things like doing the dishes, dropping things, taking a shower late, walking to hard. Things that I have no control over as I get home from work at 11pm and this…
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A moment ago
Alex Kirkland answered:
Evelyn, Yes, you should be able to get the grant programs in AZ. I offer them and would be happy to go over options for you for AZ.
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A moment ago
Victoria Cockrum answered:
Rent to own is a contract between you and the seller. It stating that after you pay the asking price the home is yours. But make sure it is all in writing and recorded that will assure it is legit. ... more
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A few minutes ago
Whitevillelawyer asked:
has been on the market for 555 days at various prices as high at 750K. Counter was "reduced" to 599K. Since now 624K.
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A few minutes ago
Victoria Cockrum asked:
I tried sending request but it keeps saying can not be contacted
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A few minutes ago
Robert H. answered:
My admittedly limited experience with this subject tells me the following:

Each property and each bank has unique elements, so the process requires you to contact and present a proposal to each holder. Some banks have kept the property "on the books" so as not to show a large loss on their quarterly or annual P&L statements. Some are eager to recoup some money and avoid the hassle, paperwork and sales commission entails in listing the property. Many will want a cash payoff of what they are owed or what they will accept. Some may consider financing your purchase of an REO (earl estate owned) property.

I find most FSBO properties to be over-priced via a vis the market in their area, and you also have to deal with, in many cases, an unsophisticated seller and missing critical disclosures of unknown-to-you items that you would want mentioned in the deal.

If you go the REO/bank route, as you know or can understand, they have oversight committees, departments, auditors and boards looking at the decisions of the officer who decides your proposal, so you will probably need to come to the table equipped with a BPO - broker's price opinion. Ostensibly, it is done by an independent r.e.broker who can justify the price you are offering. It may not be F.M.V but it should not be too distant from that. Depending on what percentage of the property's F.M.V. is owed to the bank, your price offer may be favorably received or not. One option: Seek out a knowledgeable r.e. broker familiar with the process and ideally who had dealt with the specific bank holding the REO property you are pursuing, and ask what his/her expected compensation might be to assist you. It never hurts to have experience in your corner when dealing with monolithic banks.

Some or a lot of this you may already know, but I thought I'd chime in with what I've learned. Using Google to learn more about the process can help you a lot also.
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A few minutes ago
Gilbert Medina answered:
I and my wife are currently living with my parents in their home in central florida. The home is valued at over $300,000.00, they still owe about $90,000.00. We would like to buy the home from them. We would be first time home buyers also. What are the best ways or options for us to make this purchase to benefit both parties? Are there any websites or people we can talk to about how to do this. ... more
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A few minutes ago
Lucy Simone asked:
A few minutes ago
Tuck1inc asked:
I looked through the profile and it clearly states Ga homes that I am interested in so please stop sending me homes for Columbia SC.
Thank you.
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A few minutes ago
Victoria Cockrum asked:
We live in Southern Indiana and our home is worth $78,000 but we only need $45,000. to clear all debts and get on financial track.
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A few hours ago
Hottman1 answered:
If you have a chimney that needs repairs can you still sell your house?
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A few hours ago
Frank S. answered:
Hello Sunangel, no you will have to cash them in and document the transaction for records. Do you know what your fico scores are and are you going to be paying all cash or do you need financing as well?

You may consider from 3% down conventional from a minimum 620 fico score and from 3.5% down FHA from a minimum 580 fico score. If you have lower scores between 500-579 you will need a minimum 10% down to qualify FHA.

Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary. If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to afford you can be emailed listings to fit your search criteria.
... more
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A few hours ago
Vdbennick asked:
A few hours ago
Dannie Boyd asked:
I have never bought a home before and was looking forward to purchasing next year around this time. What advice do you have for a first time buyer? who guides you through the process? are…
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A few hours ago
Frank S. answered:
No problem we have agents in the high desert. If you figure out what cities/zip codes you are considering, minimum number of bedrooms, baths and the maximum payment/price you are looking to achieve you can be set up for daily automatic emails to fit your search criteria.

You only need a minimum 580 fico score to consider Zero Down USDA Rural loan program. You have to be weary of the areas of Adelanto.
... more
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A few hours ago
Coley.coley104 asked:
A few hours ago
Frank S. answered:
Hello Karonstrahan777, If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment you are looking to achieve you can be emailed listings to fit your search criteria.

You may consider down payment and closing cost assistance programs from a minimum 640 fico score. You may consider FHA 3.5% down from a minimum 580 fico score.
... more
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A few hours ago
Gcord62 asked:
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