My experience has been that generally the USDA appraisal will not flag cosmetic issues unless those issues will cause future structural problems OR those issues cause a safety concern. An examole of a cosmetic issue that could lead to a future structural problem would be cracked/peeling paint on the EXTERIOR of the home. If water penetrates these areas, the wood will deteriorate. An example of a cosmetic issue that may be a safety concern would be a missing or loose porch railing. A railing won't affect the structural integrity, but is unsafe. Hope this helps!... more
This home is currently under contract. Have you worked with a loan officer to secure a pre-qualification letter? This is needed to place offers. If you haven't , please contact me at firstname.lastname@example.org and I can provide you with information on several lenders. They will assist you in learning if you qualify for a loan and what is needed in the way of a down payment. If you need to rent for awhile, I can provide you with information on property managers in our community to find you a suitable home. Thank you for asking and I look forward to hearing from you. My cell is 252-339-9085. Diana... more
You will not find those here and I bet you won't find many there either. You should call a local real estate company there and ask. You might have to call many because finding rent to owns is not easy since there will not be many of them because they rarely work and sellers don't want to fool with them. I have not seen one over here in the Outer Banks area in the last 12 years - not one.... more
You have linked no homes so we do not know what house it is. Your options are 3.5% down if getting a FHA loan and 15-20% down if using a conventional loan. I suggest contacting a local loan officer at the bank and discussing loans and down payments with them.... more
When was the last time you spoke to a mortgage broker? Before you commit to a rent to own make sure it is your only option. Also a good broker will have told you exactly what you should be doing while you are waiting to qualify... Did someone give you that advice?... more
124 Sutton Drive sold in early June, I do believe. It takes about 2 months for most websites to remove the sold listings. There are many other homes like that in EC, would you like a list emailed to you?... more
You should consider buying out your Ex and reestablishing a good payment history on your mortgage. This will be much simpler than refinancing a rent-to-own property.
Rent-to-own is not really in a buyer's best interest. You have no equity in the property. IT IS A LEASE. IT IS A RENTAL. You don't own it. It does not build your credit.
If you are going to Rent, then RENT. You will have more choices. You can save money. Because most "rent to own" are overpriced and overcharge on the rental. So rent something SMALLER/CHEAPER for a couple years, save the money, and use it for a downpayment on the next one.
But seriously, if you already have a mortgage, try refinancing it and paying off the ex. You might even be able to "Short Sale" it to your new girlfriend if she is not married to you yet.
If this post answered your questions, GIVE ME A THUMBS UP!
Nate Wolf was recently named a FIVE STAR REALTOR by Charlotte Magazine. He is a top producing real estate sales broker, representing both buyers and sellers. He is a member of the National Association of Realtors, The Charlotte Regional Realtors Association and the Carolina Multiple Listing Services. He is licensed in multiple states and serves all areas of Metro Charlotte from Lake Norman to Lake Wylie and Uptown / Center City to SouthPark and Ballantyne.
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Elizabeth City currently offers many historical homes for sale. There is an active historical association in the downtown area which assists owners with restoration including finding materials, color selection, etc. There is a beautifully restored home for sale now on Main Street, so you can see the possiblities available too. I have lived in the historic district and have sold homes there too, so I am familiar with the area and the homes. I would be happy to answer any of your questions or send you active listings. Diana... more
Rent-to-buy is hard to find. I would ask you why you would want to pay an extra option fee each month to the landlord if you don't expect to buy for a year or more? In case you do not know, rent-to-buy properties have an extra fee called the option fee added to the regular rent. If, for example, the rent is $1000/mo the owner might add an extra $200 each month to be used for your down payment in a year when you buy the house. The theory is that you would have $2400 of option money to use towards the purchase. The problem is that if you don't buy it you loose that option money - it's gone. Rent-to-buys can work but the vast majority (about 85% or more) don't work out and the renter looses the option money. Some owners do this over and over and get the extra money each time.
My suggestions is find a rental you like, save the extra money each month is a separate account and don't use it or spend it. Then buy a house when you are ready and you will be able to find the house you want rather than just one will to offer the rent-to-buy option which will greatly reduce the number of homes to look at.
President - Lamb Realty Inc
Kitty Hawk, NC
Do not do it. Its a very poor area. There are nearby areas i would move to first. such as camden or moyak. elizabeth city has the worst school district. also you know who in most towns if you buy a house in the nice part of town that the schools are better. NOT HERE. the school pull for poorer ares of town so the schools are mixed. i justing living here till my new home is built backm in Virginia. so im staying in my in laws rental home in one of the nicest areas in this city. guess what nice home, but taxes are through the roof here. the town is a dump. for all the taxes they charge you would think the city would be nice. i forget that most of the people in this city are on some form of help from the state or government. therefore are taxes go to help them lazy people. thats why most people live in moyak or camden. they do not have sec 8 housing or things like that so you do not worry about them type of people bringing down the area. trust me. stay away from elizabeth city. it is walfare central.... more