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Home Buying in Lake Placid : Real Estate Advice

  • All38
  • Local Info2
  • Home Buying12
  • Home Selling0
  • Market Conditions7

Activity 12
Thu Jun 2, 2016
Sally Grenier answered:
You can make an offer to purchase a new house, but it will have to be contingent upon selling your current one. Doesn't matter if you have the cash or not. Depending on the market in your area, you may or may not get your offer accepted. Might have to list your home for sale, and have it under contract first before you can make an offer on the next one. You really should have a Realtor working for you and advising you on this. ... more
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Fri Nov 21, 2014
Daniel and Melissa DeBono answered:
There are quite a few great builders in town: Scott Chapman, Mike Bevis & Gary Philip are just a few we REALLY like. We have more info on our Website about building ...
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Fri Nov 21, 2014
Daniel and Melissa DeBono answered:
The lot rent there is nearly $500/month. I personally would never consider a mobile on rented land in our area as any decent park charges too much in lot rent (just my opinion - but and educated opinion at that).
Consider this home:

Even if you purchased it as $5000 with the 500/month lot rent, that is like a never ending mortgage with no equity - just not a prudent financial decision for anyone (except the owner of the park - it's a GREAT decision for him or her).
... more
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Fri Nov 21, 2014
Daniel and Melissa DeBono answered:
It would be next to impossible to get waterfront acreage for 20k (even vacant land). But, you could find 1/2 acre or an acre or so with a mobile in Lorida (near Lake Istokpoga). There won't be many, and you'd have to jump on anything good at that price (good properties move quickly now). If you want to email us (and get us your email address), I can set you up to receive those listings when they are listed ..

Dan & Melissa
... more
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Fri Nov 21, 2014
Daniel and Melissa DeBono answered:
Fri Dec 14, 2012
dcanary answered:
Yes, there is a very good lease option program available where you get ALL of your money back. It is a bank that is trying it's best to get rid of inventory. A very good program! Call Thomas at 863-767-5022. ... more
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Wed Sep 19, 2012
margiemorris63 answered:
we live in lakeside the rent is 337per month,my sister lives in paradise just off highway 27 nice park,nice lake, but no pool , she pays 295 per month,she has a 2 bed,2 bath doublewide for sale ... more
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Fri Jun 8, 2012
Sue Clark answered:
There are several reputable home inspectors in the Lake Placid area. Can you email me at suesellslakeplacid@gmail.com and we can communicate about which ones would do the job best for you. Thank you. Sue Clark

Sue B. Clark, P.A., CRS
Re/Max Realty Plus II
801 US 27 No.
Lake Placid, Fla.
863-441-09696
... more
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Tue Jun 5, 2012
Sharon Dougan answered:
Peggy, There are several areas in Lake Placid that offer canal to lake convenience also with a pool. What price range are you looking for? Sincerely, Sharon Dougan Realtor C21 Compton Realty 863-243-3174 ... more
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Tue Mar 1, 2011
Dallas Texas answered:
If you work with a Realtor who understands your situation willing to "photo properties" do the tours w/o narrow options down is recommended.

We work with families all over the world who we work in concert with limited selection when they arrive show top 10 homes for their choice.

OR move reside in extended stay hotel for several months then search and purchase

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
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Sun Dec 13, 2009
Daniel and Melissa DeBono answered:
Check out this page for area market updates:

http://www.homedt.com/com06.cfm
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Sun Dec 13, 2009
Daniel and Melissa DeBono answered:
I'd say the first question is, do you have a decent down payment amount? So many people we speak to think that seller financing means no down money - a big misconception.

Sellers will have quite a bit of closing costs, so they typically won't close without from 5-20% down.

Even in this market, if a seller can afford to provide seller financing, that menas there is no mortgage (as they could not sell it to you if they owe on it until that is paid off first). If they own it outright, they can also typically afford to wait out the market.

What we've seen is most seller financing is for people with good down money but perhaps not great credit (so the seller takes a risk instead of a bank). Or, the buyers may own a business and not "show" great income but can afford a home. Sellers typically also charge a bit of a premium on interest rate (over a bank) because of this.

That all said, what most people looking for seller financing actually should be looking for is a lease option - basically renting a home with the option to purchase at the end of the rental period. Many times, a seller will also "put some money away" (from the rental funds) as a down payment if the option is exercised.

The problem with both of these methods is the lack of options (not many sellers want to do this and most have a mortgage). Sometimes its better for the potential buyers to simply rent until they get their credit back in shape or a sufficient down payment.

Hope this helped!
... more
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