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Foreclosure in The Woodlands : Real Estate Advice

  • All128
  • Local Info16
  • Home Buying40
  • Home Selling8
  • Market Conditions10

Activity 5
Tue Mar 24, 2015
Amanda Nicodemus answered:
The minimum credit score to qualify for a mortgage loan is 580, however if it's higher you may be able to qualify for a lower interest rate. It's best to consult with a mortgage professional. I would recommend contacting Amcap Mortgage, a local mortgage banker in Spring TX. www.thetexasmortgagepros.com ... more
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Fri Aug 28, 2009
Tom Rebo answered:
Anywhere has good deals that will cash flow with 20% down. Just have to shop hard....

I read a fun book recently that I found in our office. Chck out the chater about crummy dogs.
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Fri Oct 24, 2008
B W answered:
Foreclosures can be especially painful transactions to close. Even with all of the foreclosure problems that lenders are experiencing, they are still very difficult to work with on these deals, for the most part. As a rule of thumb, the bigger the lender, the less motivated they will act in putting a deal together. Hopefully this will change but until then, I would not pursue a home in foreclosure unless you have several months and will not be financially hurt if the deal fails. ... more
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Thu Apr 24, 2008
Michelle Allen answered:
In Texas our law requires that all contracts are submitted, whether good or bad. There is a form that the agent can present with any offer -Notice of Presentation of Earnest Money Contract - that the seller signs off on showing that they were presented the offer. It is more commonplace now to be asked by other agents if there is an offer on the table currently so the agent will know. It is the listing agent's duty to inform the buyer's agent that there is another offer on the table if that is the case. It is "courtesy" to invite "BEST" offers to be submitted. I say BEST because price in this market isn't always the better of the two, especially if a fully approved buyer is writing vs a buyer that doesn't even have a lender qualification letter. I'd recommend my sellers anyday to seriously consider an approved buyer to counter/negotiate with.

Hope this helps - great question by the way!
... more
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Mon Jan 21, 2008
Perry Henderson answered:
Texas law says that all offers must be presented to the seller. It does not mean you have to get a counter. Have your realtor call the other one. It's usually a style thing.
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