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31093 : Real Estate Advice

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  • Local Info0
  • Home Buying3
  • Home Selling1
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Activity 6
Sat Feb 6, 2016
Dan Tabit answered:
Vochun,

Rent to owns are rare and even more rarely are they a good deal for the renter/buyer. The vast majority of rent to own renter/buyer's never end up buying the house. They are a great deal for the landlord/Seller as they get to collect large up front deposits and over market rent only to do it all over again in the same house. I consider it basically immoral and predatory in most cases.

Resolving credit issues isn't rocket science and a local mortgage lender can and often do assist buyers with this. Many things you can do yourself, others the lender can direct or assist you with.

Most people in this position are far better off renting the least expensive place they can stand to live in and save up some down payment, get on a budget and fix their credit. Once you are qualified, you can select any listed property in your price range and you've fixed the issues that hurt your credit.
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Fri Jul 11, 2014
Gordon Hageman answered:
It is always situational. Many times property managers will look at other items on your credit report or past rental history to make decisions. Many things can happen to lower our credit scores, but many times these things might be unavoidable, like medical bills.

Be prepared to answer any and all questions regarding negative items on your credit report.

Hope that helps!
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Mon May 20, 2013
Niki Collier answered:
BEST Advice: 640 or better is the general score required by lenders for MOST loan types. Some will agree to do the loan, but you will find, it will not be quick, they will need to get you to that score before actual loan approval.

Contact Fresh Start Consumer Services. This is service that I have referred many to with less than perfect credit files. No Gimmicks, actual facts and results. You could be at a 640 or better credit score, depending on the severeity in a few months. Results proven! 478-918-7692 for an appointment contact Christopher.

BUYING MADE EASY and affordable!!
There are sellers that have sales professionals like myself in the community daily and offer full in house services. Model visits, lender prequalification, attorneys and product information. Realtors are welcome, co-op fees paid by seller as well as closing costs. If you have a realtor great, if not, most open 7days a week and available on the web. Look for communites that offer 100% USDA financing if you want to avoid, paying out of pocket 3.5% FHA loans. Look on the USDA Map and type in the address and zip to see if the home is available in that area in any state! You can also contact the community or contact a realtor. Also check to see if your lender or the seller is contributing to closing costs. Other fees would be Earnest money deposits, Appraisial fees, that are solely your responsibility!
This way you know your expenses upfront and can plan for short or long term goals.

Starting any movement gets you there, YOU decide how fast!!
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Fri Mar 8, 2013
Russ Ravary answered:
You can usually counter the addendum. It you do not accept then the buyer usually has the right to void the contract. If they are real concerns they most likely will come up on every inspection. You may just want to get them fixed and move on with your life ... more
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Fri Feb 22, 2013
David Myers answered:
Having pets myself, I would be extra careful to check with the local county ordinance to be sure the county division of animal control would not me knocking on my door. You can go to a search engine and search the county in which you are thinking about moving to for example HOUSTON COUNTY ORDINANCES. I hope this will help others in their search of keeping their animals. ... more
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Sat Dec 15, 2012
Rhonda E. Martin answered:
I am having a total investigation done on me. All I want to do is at-least rent the dream home if I can't own it. I so much want to talk to the owners. I do understand the purposes of the Real Estate companies, but can I meet the owners? ... more
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