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Oregon : Real Estate Advice

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  • Home Buying1
  • Home Selling1
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Activity 3
Mon Jun 24, 2013
Cathy answered:
0 votes 2 answers Share Flag
Wed Aug 25, 2010
Kathleen Puchta answered:
Arm yoursellf with information yourself from the multitudes of real estate sites both local and national. Then based on what you know- similar homes sold, similar homes for sale currently and for what price- "how to sell distressed property" info. With that information sit down with your agent and if possible their principal broker and voice your concerns regarding their marketing and action steps. you can not just throw a distressed property up on the multiple listing service and hope for the best.
They may be doing alot that you are not aware of, but you wont know if you dont ask. If your agent is new to this type of sale ask that the principal broker assist.
Last resort is that you do have a legal right to cancel your listing with that company and resign with someone who markets themselves as a specialist in distressed property, but be sure you are not comitting to pay a commission to the current company AND the new company before you make that decision.
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Tue May 13, 2008
Trey Bowden answered:
Michelle,

Co-signor a.k.a. Non-Occupying Co-Borrower (in the language of financing) are a recognized and acceptable form of mortgage pre-approval.

Your Father-in-law will have to qualify for the home along with you and your husband. You all should be aware that his co-sigining on your note can obligate him to make the payments should you and your husband not be able to fulfill the obligation.

Also the mortgage he co-signs on most likely will show up in his credit report and could impact his ability to secure his own future financing.

When shopping for this type of financing you might run into a mortgage provider who wants to charge for the extra work involved with a non-occupant co-borrower. Lenders generally do not charge for this type of underwriting. Any such charges are most likley those imposed by your broker/banker for the extra work involved in processing this type of mortgage.

Good Luck!

Trey Bowden
(405) 340-3277
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