You'd first have to qualify for the loan on your own in order to buy the home . That means you need income to support the loan and high enough credit scores.
It will take more than a "coupe of thousand" down to buy a home unless it's under 60,000..
The bank won't take into consideration the idea you have to rent out bedrooms to make money to cover the mortgage. You
d have to be able to cover the mortgage on your own.
Whether you rent it out afterwards or not (if local zoning will allow it) is up to you.
I suggest you sit and talk to a local mortgage rep and Realtor.
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Debra (Debbi…, Real Estate Pro in Livingston, NJ
To answer your question it is not that hard to find them, it just depends where you are looking and how much you want to spend. The market is very strong for all kinds of sales, rentals and land contracts because of the prices and the fact that many people have bad credit and lost their jobs, but still need a place to live. Land Contracts are the only option for a lot of people who want to purchase a home now.
Let me know where you are looking, what you are looking for and how much you can afford and I can email you some properties. My contact information is below.
Until the bank or highest bidder takes title you are responsible, check with your bank or go to city/town hall, that would help you determine if and when someone else took title meaning you do not need to pay. In a redemption state you actually hold title until the redemption period has expired and you have a right to use the property, sell the property, find refinancing, or even work out a modification with the bank.
Buy a home after foreclosure expert... more
I am sorry to hear that your calls are not getting returned. Do you have a writen Buyer-Broker agreement with this agent? If so you may be wedded to your agent. If not I would put them on notice to withdraw your offer (in writing) and them secure a Realtor to represent you. Good luck.... more
We can't tell you to terminate your agreement; it's against ethics. But, review your agreement and determine if it provides recourse for you if the broker fails to do what he is required to do.... more