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Home Buying in 78228 : Real Estate Advice

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  • Home Buying5
  • Home Selling1
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Activity 5
Tue Feb 4, 2014
Jordan Gouger answered:
First of all, don't believe the so-called "fix-and-flip" gurus. Most of them are just snake oil salesmen. You may have much better success with so-called "hard money" or "private money" than with owner-financing. This kind of financing is designed for people that want to flip homes for investment and resell them in 3-6 months. Once the renovations are complete, and you decide to rent it out the existing loan can be refinanced into conventional financing. However, if you decide to flip and sell, be wary of the new Dodd-Frank lending rules. The new lending rules that went into effect last month are designed to specifically prevent unscrupulous flippers from going in and doing a quick job and demanding a high resale price. You will be asked to submit your receipts to the buyer's lender so that they can verify that they work was actually completed. ... more
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Fri Oct 12, 2012
Jason Campbell answered:
Don't let anyone sell you on how hard it is... because it is WAY EASY!

3 steps.

1 - Get your loan pre-approved. Quck, easy, and free - Go Here: - You can thank me later... she has the lowest rates, and a million programs for first time buyers. If credit needs cleaning... she has in-house credit clean folks that work wonders.

2 - Once you are approved, I'll send you a detailed list of all the homes that fit what you are looking for in the area you would like to focus on, so you can pick out the ones you like the most.

3 - We go shopping.

Easy as Pie!

Jason C Campbell
Option One Real Estate
... more
0 votes 9 answers Share Flag
Thu Oct 11, 2012
Doc & Ellen Stephens answered:
Hi, Mary,

The Texas legislature virtually outlawed rent-to-own schemes (unless drafted by an attorney) in 2006, because so many people lost their money. If you have a contract and want an attorney to check it out, I will introduce you to a good one. If you don't have a written contract, the Texas Statute of Frauds says essentially that no court can enforce a verbal agreement involving more than $2,500.

My experience with NACA is that they try to steer their clients to agents who will share their commission with NACA. That doesn't always get you the best agent available. Most REALTORS will do a no cost consultation with you, read your contract, and advise you as to your available options. We can't practice law, but most of us know good Real Estate Attorneys who will do the same for you if needed.

You can find out if you can qualify by contacting a quality lender and asking them to pre-approve you. Contact me for a list of names. By the way,that's one of the reasons rent-to-own schemes were stopped - people had 2 years or so to repair their credit, but they were unsuccessful in doing so, so their agreement expired and they lost all the money they had put into someone else's house.

You wouldn't risk your life by doing your own surgery, but people often make major financial mistakes by not getting qualified help. Don't do that to yourself.

Best regards,

Doc Stephens, REALTOR
Keller Williams Realty
(210) 764-9403
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0 votes 6 answers Share Flag
Wed Oct 10, 2012
Monica Barrientos answered:
I agree that getting pre-approved is a good starting point, I just want to add that you should contact at least three banks/mortgage companies to compare their interest rates, fees, and customer service. A great financial company will make this whole sale's transaction go much more smoothly.

I can do a FREE Comparative Market Analysis for you to estimate the fair market value. Based on my findings, if you still want to purchase the home, then an appraisal should be ordered by your lender.

I would seek a real estate attorney to draw up the paperwork needed and a title company to handle the transfer of title.

I hope this helps. Remember that it is still a "buyers market", so keep your homebuying options open; there are a lot of fantastic properties out there right now. I know moving is a pain, but if you can find your "castle", then make that move. Please contact me should you decide to look for other properties.

Monica Barrientos-REALTOR®
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Thu Sep 6, 2012
Monica Barrientos answered:
Dear Futurehomebuyer (catchy name), there are several downpayment assistance programs here in San Antonio. You can contact NACA for help and also check with the Bond 77 Program. A seasoned lender should also have a longer list of programs. I recommend Carlo Colantonio at NationStar Mortgage. Please call him at 210-313-6196 for more advice. Once you have had your financial questions answered in more detail, please contact me at 210-379-5098 to start your home search. Please view my profile on Trulia or visit my website at to learn a little bit more about me.


Monica Barrientos
... more
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