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Home Buying in 92392 : Real Estate Advice

  • All32
  • Local Info4
  • Home Buying12
  • Home Selling6
  • Market Conditions0

Activity 12
Tue May 16, 2017
Hello Lphillips7153, how much cash do you have to work with as they usually want 10-15% non refundable down and are very risky. What are the issues you are having to ask for rent to own homes?

You may qualify ONE DAY after a short sale, foreclosure or deed in lieu with 20% down. You may qualify for FHA from 500-579 fico scores with 10% down and minimum 580 fico score may qualify for FHA 3.5% down payment. You may consider 3% down conventional from a minimum 620 fico score.

Do you have down payment and closing costs or do you need down payment and closing cost assistance programs? You would need a minimum 640 fico score to consider down payment and closing cost assistance programs.

You will need to answer a lot of questions to put a game plan together. I live in Apple Valley and can answer any questions or assist if you have want to move forward in real estate or mortgages. The single family homes in 92392 zip of Victorville start from 170k or so.

How much are you paying in rent and what is the maximum payment you are looking to achieve in a mortgage payment? You will need to gather some documentation to get pre-approved to be able to view and submit offers on any homes of your choice.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico 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 achieve any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
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Fri Sep 11, 2015
Charlotte Turner,ABR®,e-PRO® answered:
Did your offer have a contingency (financing, sale of home, inspection?) If so, the seller can certainly (depending on the laws and regs in your area) take backup offers in case the contingency falls through. The best source of information on your particular deal is your agent. They will know exactly why the property is showing as it is.

Random folks on an internet forum are not the best source for information on important issues such as home buying - consult your professional... if you don't have an agent (perhaps why you are asking random strangers on an internet forum very important questions), call the seller's agent and ask.
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Wed May 13, 2015
Bo Goulet, broker answered:
Wed May 13, 2015
Bo Goulet, broker answered:

If your name is on title, you have an ownership interest in the property. Your signature is required to sell the property.

When you say property rights, though, your question needs additional clarification because Federal, State, and Local laws, as well as covenants and conditions recorded against the property may restrict your rights.

Feel free to call me if you wish to discuss this further.

I look forward to helping you.
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Thu Jul 24, 2014
Dan Tabit answered:
Good information, wrong forum. Please move this to a blog post. This forum is for one person to post a question and others to answer. Best of luck.
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Mon Oct 1, 2012
Brant Ensworth answered:
You should stay in the home until the short sale has closed for several reasons. 1) Reduced chance of vandalism. 2) Some lenders will pay moving expenses for the Seller in a short sale. 3) If the short sale does not go thru, you will have more options if your still in the home.

Brant Ensworth - Top Ranked Realtor
Short Sale Expert with over 580 Homes SOLD
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Fri Jun 29, 2012
Mary Young answered:
Call me and I will be glad to look this up for you. However, even if it is not in foreclosure the owner could still walk away even though there is nothing posted on the county records. Also they could plan to short sale the home and you may not find that out for awhile either. Try and rent from someone reliable.

Mary Young
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Tue Jul 26, 2011
Stephen McKee answered:
I highly suggest you just search "Asset Managers" on Linkedin. You'll be surprised by how many are easily accessible there. Create a very thorough profile as well for your self so they know who is contacting them. ... more
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Mon Nov 23, 2009
Jesse Sierra answered:
Hi Vickie,
Most likely they will not accept your counter offer since they already opened escrow.
Have your agent talk to the listing agent and see if they can keep your counter as a backup offer.

Best regards,

Jes Sierra, B.Sc.
Century 21 Beachside Realtors®
Chino Hills, CA
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Mon Nov 23, 2009
Emily Knell answered:
Highest offer doesn't always mean best. There may have been other factors as to why the bank would choose another offer over yours.

Stay in contact with your agent & the listing agent & keep your offer ON the table. This other buyer may back out or financing may fall through or maybe, like I experienced recently the Feng Shui doesn't work & they back out & you get it.
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Fri Jul 31, 2009
Wallace Hagstrom answered:
It is unlikely the appraisal value will be affected by the ommissions. Do not be concerned as the lender will give no value to appliances and upgraded carpet anyway! The appraisal will come in at the purchase price OR value WHICHEVER is LESS! ... more
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Thu Jul 31, 2008
Kevin Keyser answered:
Is it a short sale? If you do a search on here for short sales you will see this has been a hot topic recently. We have seen banks take many months to respond to offers on short sales. It makes absolutely no sense. You would think the banks would get back to good, solid offers fast, but instead they seem to just ignore them much of the time. We are not saying this is always the case but just from word of mouth from other agents it seems pretty common that the banks take several months to get back to short sale offers. By that time many buyers have moved on to other properties and the banks have to lower the price even more! It seems like the people at many of these banks are asleep at the wheel, as they say.

While many buyers are looking for "short sales" because they sound exciting and new and people like the sound of them, we actually think it is better to look for homes that are for sale from real sellers, and not banks. John Q. Public might be willing to give you a better deal on his home than John Q. Banker who can afford to wait longer. We think the best strategy is to look for properties that have been on the market for several months, with real sellers that need to sell. You can often get these homes for even less than a bank would accept. Good luck with your purchase!
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