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Port Charlotte : Real Estate Advice

  • All506
  • Local Info25
  • Home Buying209
  • Home Selling12
  • Market Conditions39

Activity 422
Fri Aug 25, 2017
Ken Henkel answered:
Go to this is website of Real Estate Owned properties of HUD or for privately held banks, call the bank and ask for the REO Officer.
0 votes 1 answer Share Flag
Mon Aug 7, 2017
Kathykoppany answered:
What would it cost for a fifth foot bulk head on a lagoon in New jersey
0 votes 5 answers Share Flag
Thu Aug 3, 2017
Kelsey Goetz asked:
I recently purchased a home and would like to remove the pictures from the listing.
0 votes 0 Answers Share Flag
Fri Jun 23, 2017
Kathy Burgreen answered:
Let me get this straight. You are willing to use your savings for a huge upfront deposit on a Rent To Own + pay a monthly rent + a monthly premium amount + sign a contract for doing so and the contract will state you will not get your money back if you don't buy the house YET you don't want to wait 6 months for your credit to improve/

What's wrong with you? I'm guessing you don't understand how Rent To Own / owner financing works. Allow me to explain (I'm a former realtor).

In a Rent To Own situation, you (the tenant) will sign a contract with the owner that says you will pay a huge upfront deposit + a monthly rent + a premium rent. The deposit goes towards the down payment and the premium rent goes towards the purchase price. The regular rent goes towards the owner. When the lease is finished, you will need to qualify for a mortgage loan from a lender.

The risks to you are as follows:
1. Suppose you don't qualify for a loan? The contract you signed says the owner keeps the house and all of the money you paid (upfront deposit, rent, etc.). Sorry, no refunds.
2. Suppose you don't like the house after 2 years? Again, the contract you signed says the owner keeps all of your money. No refunds
3. Suppose you get a job in a different area or you need to relocate for whatever reason? Again, the contract you signed says the owner keeps all of your money. No refunds.

Do you still want to take this risk? You will lose thousands of dollars. A much safer method is to wait those 6 months (too bad, so sad), work on improving your credit to at least 620, then buy a home. You will have plenty of options for a loan with a credit score of at least 620. Also you just need 3.5% down payment for an FHA loan.
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Fri May 26, 2017
Diane Christner answered:
For questions such as this, you really should seek out legal help. Most of those posting here are real estate agents, and we cannot give legal advice.
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Wed May 24, 2017
Cmez29 answered:
What does ground maintenance consist of?
0 votes 3 answers Share Flag
Tue May 23, 2017
Lorilee Hoort answered:
I think you should get it approved for tiny home lots there is so much need for that and you would sale fast
0 votes 30 answers Share Flag
Mon Apr 17, 2017
Shirley Esposito asked:
Sun Apr 2, 2017
Charmainej answered:
Sat Mar 25, 2017
B967cameron asked:
buying a lot in Port Charlotte in flood zone.AE
0 votes 0 Answers Share Flag
Fri Mar 17, 2017
Kelcole64 answered:
try watiching on line or on tv. for condo deals. seen places in florida sell for 30k and hoa one was 185 a month. seen some as low at 125 per month.
0 votes 6 answers Share Flag
Wed Feb 1, 2017
Diane Christner answered:
If your mother is not an actively licensed real estate agent, then no, she cannot get a commission. They do require agents to provide their state license number, which is verified.

In FL it is a crime to collect a commission on a real estate sale if you are not appropriately licensed.

Since the money is collected either way, why not hire your own buyer's agent, one that is well versed in dealing with Hubzu. Hubzu is not the easiest company to deal with as an experienced agent. As an inexperienced buyer, it makes sense to have representation.
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Mon Jan 30, 2017
Musacman answered:
If me and my wife buy a home in a 55+ community are we aloud to have our niece who is 34 live with us, and if so should something ever happen to us and she is still living there would she have to sell our house and move due to the age limit ? ... more
0 votes 8 answers Share Flag
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