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Kansas City : Real Estate Advice

  • All506
  • Local Info52
  • Home Buying206
  • Home Selling33
  • Market Conditions12

Activity 319
Mon Oct 22, 2012
Daniel Alvarez answered:
FHA has fairly strict guidelines, so you would be hard pressed to find any reputable lender that could assist before the 6 month seasoning requirement is met.

Not too long ago (just after the crisis) most lenders were requiring 12 month seasoning, so consider yourself lucky that you werent purchasing this property in 09. ... more
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Mon Oct 22, 2012
Don Tepper answered:
So you closed on Tuesday with a rent-back until Thursday? If that's the case, then your agent should have included something in the rent-back agreement covering a security deposit for possible damage.

I'd speak to your agent's broker, who may be surprised or concerned at your agent's failure to protect you.

If that's unsuccessful, then you might try small claims court, seeking to collect from your tenants. You might include your agent in the claim as well.

Good luck.
... more
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Sat Oct 13, 2012
Shelly Christ answered:
Your best bet is to call the various utility companies to get the actual costs.

Shelly Christ
Prudential Kansas City
0 votes 4 answers Share Flag
Fri Oct 5, 2012
Anita Eaton answered:
A HUD home is usually an FHA foreclosed home. The purchaser has to be pre-approved for a loan or have proof of funds prior to making a bid on a HUD home. Bids are submitted on-line and all submitted bids are opened on the Bid Open Date. If there are no successful bids on the Bid Open Date then HUD will open bids every 24 hours until they receive a successful bid.

When a bid is accepted the Realtor has approximately 24 hours to get all the signed contracts and proof of funds to the asset manager for review. HUD requires original contract signatures so the contracts need to be sent by an overnight courier.

If, after review by the asset manager, the contract package is satisfactory then they are sent to the HUD Settlement Agent and the home purchase follows the time frame of a traditional home purchase with the exception that HUD requires an 8 day review of closing documents prior to closing. If the lender waits until the closing date on the contracts to generate the HUD-1 Settlement Statement then the purchaser has to request and pay for a 15 day extension.

If there is any other information I can provide you can call me at 816-350-8400 or email me at aeaton@fprec.com.
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Fri Sep 14, 2012
Kim Glass answered:
Hi Dsledler55,

My limited understanding is that TOPA (Tenant Opportunity to Purchase Act) is a unique law that tends to favor tenants in the event of landlords selling the home they reside in. Giving them an opportunity to purchase the home is the basis of the act.

Hope that helps a bit!
-Kim, Community Manager
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0 votes 1 answer Share Flag
Mon Sep 17, 2012
r b answered:
I would love to help you but I can not find the address.
0 votes 2 answers Share Flag
Wed Jun 15, 2016
Suzanne Steenkamp answered:
Hi There,

I was just in a 2 hour meeting yesterday on all of the NEW USDA regulations.

I am with the Koehler Bortnick Team in KC, #1 Team for 19 years in a row, 12th in the USA.

I would love to set a call time, please call me at 816-679-0698

Best,

Suzanne Steenkamp
The Koehler Bortnick Team
Reece and Nichols
C-816-679-0698
E-suzanne@reeceandnichols.com
... more
0 votes 7 answers Share Flag
Mon Aug 20, 2012
Doug Shafer answered:
Squier Park just received historic status a few months ago. Architects who knew the process bought the house originally built for the Katz family, of drug store fame,and while completing the renovation process, used their professional expertise to expedite the application. I lived in the neighborhood for 18 years and would be delighted to introduce you to houses as well as your potential neighbors! ... more
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Fri Aug 17, 2012
Michael Diggs answered:
Cherie,
You might try seaching by zip codes (64152 & 64153) they are in the Hawthorn area.
If I can assist you please call me anytime at 816-863-7797.

Thank you
0 votes 1 answer Share Flag
Fri Oct 4, 2013
Meagan answered:
I'd love to help assist you with finding a home here in the kc area give me a call when you get a moment and let's talk more about what it is your looking for-Meagan Kang 816-589-5337 ... more
0 votes 9 answers Share Flag
Thu Apr 4, 2013
Monica King answered:
You have a 99.9 percent chance of getting your short sale approved. I have worked with homeowners in your very situation, and I have helped them get shortsales approved. Divorce is considered a hardship so you are qualified to do a short sale. Contact me @ 816-769-1584 or kingmonica@sbcglobal.net. I can answer any questons that you may have. Monica King ... more
0 votes 8 answers Share Flag
Wed Aug 15, 2012
Michael Diggs answered:
Edgar,

I would be more than happy to assist you & your family in your search for a rental property. Please call me anytime at 816-863-7797.
0 votes 3 answers Share Flag
Wed Aug 8, 2012
Michael Diggs answered:
Alicia,

I would be happy to assist you in locating a lease-purchase, rent to own or even a rental. Please contact me at 816-863-7797.
0 votes 1 answer Share Flag
Mon Aug 6, 2012
The Sherri Oaks Team answered:
Mon Jul 30, 2012
The Sherri Oaks Team answered:
In Kansas I believe you can get the information at http://www.Kansas.gov/kbi or contact the local sheriff's office
0 votes 3 answers Share Flag
Thu Feb 28, 2013
answered:
Good morning Nik Vencedor,

Rent To Own is a better deal for the Seller than it would ever be for a potential Buyer.

The basic concept is finding a way to "force" savings towards a down payment by including a portion of the monthly rental that goes towards that savings. You pay your rent every month and your Landlord deducts a pre-determined amount to hold in a special bank account, called an "escrow" account. Your Landlord holds that money until you have saved up enough---through this "forced-savings" method---to meet a down payment to purchase the home.

The terms of the purchase price, including the down payment amount, and the amount to be set aside from the rental for down payment, are all set down at the time of lease signing.

It's all about helping the renter/tenant save up enough money for a down payment to buy a home (in this case, the one you're renting). But this is a better deal for the Seller because he gets to lock in a purchase price and a buyer today for a future sale.


Saving money for a down payment? Well, heck, you can do that on your own.


If you are dedicated to the idea of buying your own home, you can create your own savings plan to save up enough money for a down payment. And when you have saved up enough for a down payment, if that takes a year or two or more, YOU get to decide on the price you're willing to pay for the house at that time based on current market conditions. You won't be locked in to a price that may be a lot higher than what the house is worth in the future.

With Rent To Own you'll be locked in both to the house and to the price, even if it takes you 3 years to save enough through the forced savings of the rent payments. What happens if three years from now your life situation has changed? Maybe you need a bigger/smaller home. Maybe your employment has relocated. Maybe your credit or income is insufficient to qualify for a mortgage loan.


Find a way to save up on your own; not with Rent To Own.


Sit down with a local Mortgage Banker and get yourself prequalified, too. You may find you're better qualified than you think you are, and, if you're not, at least you'll know how much loan your income and credit qualify you for, and how much you have to save towards down payment and closing costs.

Trevor Curran
LICENSED MORTGAGE LOAN ORIGINATOR
NMLS #40140
... more
0 votes 2 answers Share Flag
Thu Jul 26, 2012
Ron Thomas answered:
Kansas City had a program where they would lend you the Down Payment, and if you stayed in the house, you didn't have to repay the loan.
You might also look at a USDA loan, which, for rural property, they have NO DOWN payment.
Please call a local Realtor for help.
... more
0 votes 3 answers Share Flag
Wed Aug 20, 2014
Ron Henderson answered:
That's a question for the city or the county in which you live. Call the Planning & Zoning Dept in your county and city to ask this question. Also, if your community is governed by a home owners association, there may be specific requirements there too although typically most HOA's won't allow an above ground pool. ... more
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Thu Jul 12, 2012
John Erickson answered:
Are you looking to rent? I have several connections to rental houses and places to purchase. Where will you be working? Im at that general area all the time.
0 votes 5 answers Share Flag
Tue Jun 26, 2012
Erika Waggener answered:
The average rent for homes in Gladstone varies. There are companies that specifically cater to people looking for a rental, example: Key Connections KC may be able to assist you with your rental needs. If you want to know for sure if you could qualify to purchase your first step will be to contact a Mortgage Consultant to see if you qualify for pre-approval. If you qualify, GREAT! If by chance you can't at this time, do not be discouraged. A Mortgage Consultant can give you advice on the steps to take to get pre-approved at a later date to make your home ownership dreams a reality. ... more
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