It means the home is owned by HUD, when you get an FHA loan it is insured by the government. If you foreclose, they own the property. If you have any questions or are interested in getting a HUD home, I would check out The Lenders Network, they will be able to refer you to a few lenders that can help.... more
BEWARE SALVADOR ESCALANTE JR DBA INNOVATE REALTY IN WINNETKA CA, HAS 3 BRE ACCUSSATION FOR FRAUD, DISHONEST DEALING AND MONEY LAUNDERING SEE CASES H-40211-LA, H-39066-LA AND H-40381-LA. HE PRAYS ON FINCIALLY STRAPPED HOMEOWNERS IN THE 90042 AREA CODE HE IS ASSOCIATED WITH A CROOKED BUILDING AND SAFETY INSPECTOR BY THE NAME OF ALFONSO AVILA.... more
BEWARE TO BUYER AND ESPECIALLY SELLERS IN THE 90042 AREA CODE. THE IS A ROGUE BUILDING INSPECTOR AND REALTOR WHO PREY ON FINANCIALLY STRAPPED HOMEOWNER. THEY WILL DECEIVE YOU AND TRY TO LOW BALL YOU, BY FILING BOGUS PERMIT VIOLATIONS, MANIPULATING COMP. MARKET ANALYSIS REPORTS. ALFONSO AVILA AND SALVADOR ESCALANTE DBA INNOVATE REALTY ALSO DBA PRIMO CONSTRUCTION SERVICES THEY ARE THIEFS AND A RAT BASTARDS. HE HAS 3 ACCUSSATION FILED BY BRE CASE H-40211-LA AND H-39066-LA & H-40381 LA. LENDER AMERISOURCE, BOULEVARD ESCROW AND WESTERN RESOURCES TITLE ARE UNDER ADMINSTRATIVE INVESTIGATION BUY THE D.B.O, D.O.I AND FOR FRAUD AND DISHONEST DEALING. DONT BE FOOLED BY BOGUS PERMIT VIOLATIONS.... more
When I see this happen, I think that the Seller is looking for an unsophisticated, unrepresented, probably cash-only buyer because of some material fact that would otherwise prevent the sale for full price. For instance, a home with significant work done without permits in a city which does not require a pre-sale inspection. The buyer can always hire and compensate their own representative, that's what I would recommend. It could work like this: Make your offer X% less than what you would otherwise offer. Hire your own exclusive representative and compensate your representative the X%. If there is no significant reason that the Seller wants an unrepresented buyer the Seller should have no objection to, even welcome, a real estate professional involved in the transaction. If the Seller wants to save on commission, the Seller should have no objection if you pay your own representative. I would be cautious if the Seller insists that you are unrepresented. In that case, I would get the offer accepted (only if you know what you're doing) and then hire a representative anyway, it's your right to do so.
Hope this helps!... more
The loan process through escrow is often frustrating and tedious for buyers. While nowadays, many lenders can push through a loan in less than 30 days, it is not uncommon for escrows to run long. Just be sure to speak with your agent about requesting a time extension in escrow, if you are outside of your contract requirements.
Check with established direct lenders. Be sure to compare rates, terms, points and additional fees for the loan. It will take time on your part but will save you money in the long-term. I suggest only dealing with direct lenders.
Gail Mercedes Cole
EXP Realty Marina del Rey
For around $350,000, you might want to consider a condo in Silver Lake or Glendale, these are areas that would be an easy commute to downtown for you.
Feel free to contact me directly at (310) 717-1321 or JamieTian@RodeoRE.com and I would be happy to answer any additional questions you might have, or email you a list of properties that are currently for sale in your price range.
BRE #01920120... more
If I were you, I would approach the tenant and offer them cash to inspect.
Should you decide to purchase, I would then offer them cash for keys.
I realize these options may not appear to be the best, but if they accept you've gotten rid of your hassle!
"25 Years of Professional Real Estate Experience"
Licensed Real Estate Broker
Prudential CA Realty... more