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Home Buying in Bessemer : Real Estate Advice

  • All37
  • Local Info3
  • Home Buying15
  • Home Selling1
  • Market Conditions2

Activity 22
Thu Jun 30, 2016
Sales answered:
Tbodley, my name is Teresa Hood and I manage about 150 researchers and we cover about 300 counties nationwide collecting information from various document types, including Probates. We're looking to connect with a company like yourself and provide you leads where you might not currently be receiving them, but have clientele asking about them. I'd like to talk to you or one of your reps when you have time. My cell is 423-220-7809. I'm located in East Tennessee. I look forward to hearing from you soon. I invite you to visit our website at www . 1stopleadshop . com ... more
0 votes 8 answers Share Flag
Sun Mar 6, 2016
Jennifer Edwards asked:
Mon Oct 27, 2014
Jim Paulson answered:
Everyone has their own definition of what "poor credit" or "good credit" is. FHA is typically your best bet for fair interest rates but it is 3.5 % down plus closing costs. There might be options in your area for first time home buyer programs to help with down payment and closing costs.

Each lender and type of loan has a different requirement for down payment, etc., so team up with a knowledgeable Realtor that is familiar with First Time Home Buyer programs so they can get you started on the right path!

Best of luck!
Jim
... more
0 votes 1 answer Share Flag
Fri Oct 10, 2014
Tim Moore answered:
Hopefully buyers will realize rent to own is not a good deal and will avoid them so they don't lose more money fooling with them. Why a seller wants to foll with it usually means they are working to rip-off a buyer/renter that does not understand how they work -- or don't work which is more correct. ... more
0 votes 1 answer Share Flag
Sun Jun 22, 2014
Rodney Mason answered:
Contracts cannot be assigned so a Buyer would not be able to obtain a mortgage in that case.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203(k) Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
0 votes 1 answer Share Flag
Mon May 19, 2014
Trevor Curran answered:
Rent To Own is a better deal for the Seller than it would ever be for a potential Buyer.

Key Points of Rent-To-Own:

• Portion of monthly rent payment is set aside by Landlord towards a future down payment
• Landlord/Seller locks you into a price today for a purchase tomorrow
• Forces the Tenant/Homebuyer to save towards down payment
• Tenant/Homebuyer still has to apply for a mortgage in the future to purchase the home

Rent-To-Own "forces" savings towards a down payment. Your Landlord deducts a pre-determined amount to hold in a special bank account, called an "escrow" account until you have saved up enough---through this "forced-savings" method---to meet a down payment to purchase the home.
At the end of the agreement, usually 2 to 3 years, you must apply for a mortgage loan to complete the purchase of the home. The terms of the purchase price, including the down payment amount, and the amount to be set aside from the rental for down payment, are all set down at the time of lease signing.

You can save for a down payment on your own.

If you are dedicated to the idea of buying a home, create a savings plan. When you have enough for a down payment YOU get to decide on the price you're willing to pay for a home based on market conditions.

With Rent To Own you're locked in to the house and to the price. What happens if three years from now your life situation has changed? Maybe you need a bigger/smaller home. Maybe your employment has relocated. Maybe your credit or income is insufficient to qualify for a mortgage loan.

Get Prequalified by a local Mortgage Banker. You may find you're qualified now for a mortgage loan.

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
... more
0 votes 6 answers Share Flag
Thu Apr 24, 2014
Renee Hamilton answered:
You should speak with a Realtor or a Loan Officer first. In most cases you will need to have a prequalification letter stating what you can afford. This is information that is only shared between you, your Realtor and Lender. Once you a prequalified your agent will begin showing you properties based on you list of items you would like in a home. If you have less than perfect credit, the lender can help you with that too.

Sincerely,
Renee Hamilton
205-504-0421
reneehamiltonsellshomes@gmail.com
www.e21realty.com
... more
0 votes 4 answers Share Flag
Thu Apr 24, 2014
Renee Hamilton answered:
I have two fantastic lenders that I work with. Both offer different programs that can benefit a wide range of buyers. Feel free to call or email me with your specific situation and I will get you in touch.

Sincerely,
Renee Hamilton
Alabama Real Estate Agent
205-504-0421
reneehamiltonsellshomes@gmail.com
www.e21realty.com
... more
0 votes 2 answers Share Flag
Tue Oct 8, 2013
Aaron Sims answered:
I see you've another older post and no answers. I would recomend Jefferson Title for closings. They handle everything from title searches, can do Power of attorneys if needed for the closing, and have the lawyers to do the closings themselves.
If you need a contact name and number for someone there, let me know and I'll get it to you!

Aaron Sims
jaaronsims.re@gmail.com
... more
0 votes 1 answer Share Flag
Tue Oct 8, 2013
Aaron Sims answered:
I see this is an old post, I also see Bessemer as your area and if that is so, I can assure you there are other agents who can provide you with information on homes int he Bessemer area.
I do hope that your relationship with this agent has changed, or by now perhaps you've found another source of information. Are you an investor? looking for a property for yourself??
I may can assist you, please let me know.

Aaron Sims
jaaronsims.re@gmail.com
... more
0 votes 2 answers Share Flag
Mon Jun 10, 2013
Anna M Brocco answered:
Depends on just how poor the credit is; for a personalized answer visit with any licensed loan officer; keep in mind that there are other factors besides credit that determine mortgage qualification.... ... more
0 votes 1 answer Share Flag
Thu May 30, 2013
Tbodley asked:
I want to know in case I need or should become an agent one day just to get access to the MLS. I have been hearing a lot of buzz about the great benefits that is offered from the MLS. I…
0 votes 0 Answers Share Flag
Sat May 25, 2013
franwatkins914 answered:
I have a home available for sale in Bessemer if you are looking for one now. I know you are seeking a list. Did you try asking a local real estate office /bank for their copy?
0 votes 1 answer Share Flag
Thu May 2, 2013
Rodney Mason answered:
It doesnt sound like you are in any position to purchase a home at this time. Since money is a major factor, you may want to consider looking for a higher paying job or getting a part time 2nd job. That should help you be able to save more money or a couple of years. Otherwise, you are going to be in the same position years from now.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
0 votes 1 answer Share Flag
Thu Feb 7, 2013
Aaron Sims answered:
Trulia's recent solds come from public record and can be considered accurate. As to what is recent, you'll have ot see if the date of sale is listed to make sure you are not looking at a sale that is over a year or so old.
Best of luck!
Aaron
... more
0 votes 1 answer Share Flag
Sat Jan 21, 2012
Alan Engman answered:
Speaking as an broker/investor/contractor, I would use a blended value using; Zillow, Eppraisal, Trulia, and the municipality's property appraisers value.

A starting point for valuing the property is to find out what the areas average per square foot (sold price) has been over the last six months for homes in the area where yours is located. Investors refer to it as a "BY The Pound" appraisal, meaning, a home will sell for a guaranteed price subject to it having basic amenities that are available in other homes within its area. ... more
0 votes 5 answers Share Flag
Sat Jan 21, 2012
John Walin answered:
So this isnt a question, just a way to promote yourself. What exactly is the value add for the consumer? Why not buy a place and cut you out? Thumbs up to you Phil
2 votes 5 answers Share Flag
Sun Jan 15, 2012
Rodney Mason answered:
Below is my contact info if you would like a referral to a Birmingham real estate agent.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | VA | USDA | GA Dream | Jumbo Financing
... more
0 votes 2 answers Share Flag
Thu Jan 12, 2012
Tbodley asked:
What is this home worth and how much does it rent for? I am looking to buy and resell this home. I contacted agents in this area about the property, but no one responded back to me yet.…
0 votes 0 Answers Share Flag
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