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Little Rock : Real Estate Advice

  • All205
  • Local Info15
  • Home Buying82
  • Home Selling25
  • Market Conditions6

Activity 123
Wed Feb 4, 2009
Steven Blackwood answered:
Rick - I have hard money lenders and investors. We may be able to work someing out for you.
Email me with your phone contact information and I will give you a call to discuss some details.
Steven@StevenBlackwood.com
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Sat Jan 31, 2009
Steven Blackwood answered:
Do I have it listed?? or will I list it?? Im' not sure I undertand your question. Are you interested in the house or something similar or do you want to sell the house? Either way, I can help.
Let me hear from you.
Steven
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Mon Jun 27, 2011
Melanie Jackson answered:
Were you ever able to find the home you were looking for?
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Sat Aug 10, 2013
Dana Schuster answered:
My first question is--do you have a down payment? you would need this for either rent to own or financing. FHA is for first time buyers--credit scores are not taken into account,but you need a 3.5% down payment. There is also USDA and RD financing available and the RD areas are not necessarily rural. For example, Slidell,LA where I live is a city,but is eligible for RD(rural development) Stipulations are single family home and not over 170K. I suggest you contact a reputable,local mortgage broker to discuss your options. And do not be taken in by online roboscammers. ... more
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Tue Sep 22, 2009
William Rudge answered:
It depends on how your sales agreement was written. If the $500 was shown on your settlement sheet simply as a credit towards the purchase price it was built into your loan settlement costs and you have no access to it. If the money is being held in escrow then the cash can be used towards the purchase of new carpeting. ... more
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Thu Jan 1, 2009
John Hamilton answered:
Hi Paige,
I'm retired USAF and I live in Hot Springs Village, AR. Do you want the Little Rock area and are you still active or have you just gotten out of the Army? I would love to help you find what you want and need at a price you are willing and able to pay. We have some great buys on foreclosures at this time. Please email me and I'll do whatever I can to assist you. Thanks for serving so others may be free!
John
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Tue Dec 30, 2008
Dallas Texas answered:
Yes you can ask for seller consessions, lender needs approve the amount of % . Your mortgage broker can provide you info if there is a cap. Buyers agent completing your contract should submit sales offer based on loan officer recommendation. ... more
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Mon Jun 27, 2011
Melanie Jackson answered:
Are you still in the market to buy and/or sell? I noticed no one was available to answer your question...?
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Tue Dec 30, 2008
David Bolick answered:
Absolutely Not. If your contract states a repair limit of $500, then the buyer can take it or leave it. It makes no difference what kind of loan program there is. The ADDI program allows for up to 20% of funds towards rehab anyway. I'd be curious who is telling you otherwise. Hopefully your listing agent is not telling you that you have to pay more repairs than the amount in your contract. If so...you need to call the Broker of the company and have him tell you why....he won't have an answer for sure. ... more
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Sun Oct 19, 2008
Susan Hamblen answered:
There are sellers who will accept conditional offers. And the fact that you will be paying cash when your home sells will make your offer more attractive to sellers. The process does not have to be complicated with the help of a competent agent. Glad to help you anyway I can.

www.greaterlittlerockhomes.com
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Thu Dec 9, 2010
Patti Bennett answered:
Sure there is. Depending on your price range there are a few. One that particularly comes to mind is the Colony West area. There is a grocery within walking distance, most likely a city bus that runs close to the grocery as well. There are other locations as well. An area like Maumelle may also be of interest to you. I hope this helps. ... more
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Thu Oct 9, 2008
David Bolick answered:
Tonya, I assume you're saying you've been "renting" the same home for 9 years and wanting to make a purchase on the basis of a possible "Lease to Own" because of possible credit issues.

The first step is to have a hard working, credible Loan Officer that's willing to take the time to discuss with you, your current situation and what it would take to get your credit in to a position to purchase the kind of home you're looking for. Not all Loan Officers are the same. I have a few in mind that would help you if you'll contact me.

Secondly, any Lease to Own, Rent to Purchase, etc. is going to be designed by nature to take advantage of you unless it is a special situation. I have one such situation now, but haven't had one designed for a buyer for well over 10 years. You're better off avoiding those situations at all costs. They have "time frames" designed to take additional money from you and not what they're cracked up to be.

I've been a broker in the LR metro area for over 33 years and would be more than willing to share some good advice if you like. You can call me at 960-8601 or email me at dbonweb@aol.com
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Mon Aug 25, 2008
Jennifer Choate answered:
This home is located on 4.7 acres. It is an incredible home for entertaining with an inground pool and large back porch that features a custom grill and cooking area. The home has 5 bedrooms and 3 full baths. There is an area that would be perfect for an in-laws quarters. This property also features a 2500 square foot shop. ... more
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Mon Aug 17, 2009
David Bolick answered:
Chris, that's a tough one. I'm assuming that purchasing is out of the question. You need to be aware that any "Rent to Own" is not going to be to the advantage of the renter and designed to just get more money on a rental. Personally I'd stay way away from those. As for Owner Financing...that's pretty rare as well in that a seller considers if a bank will not loan you money...why should he? If he does...you'll be paying an additional arm and leg on an interest rate which isn't worth it.
I checked our MLS for all homes for sale and there are 52 homes that potentially match your need, but none of them state they will rent or rent to own. I have one for $850 per month, but I don't think you'd define is as "really nice" as your wanting. A Really Nice is going to "start" at about $1,200 per month.
My recommendation considering your time crunch is to call or email Sally Goss at Goss Management. They are a rental management company and run a very good operation. Sally's number is 501-225-7968 and email is csgoss@aol.com She handles over 200 rentals and knows the market very well. If I can be of any help, just call me at 501-960-8601 or email at dbonweb@aol.com Good luck and I hope you find something soon!!
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Thu Sep 25, 2008
Judy Luna answered:
You don't state whether you are represented by a buyer agent or not, nor if the home is listed with an agent. If it is listed with an agent, most agents use contracts from the Arkansas Realtors Association. In that contract, paragraph 15B mentions something called a "repair limit", which is the amount of money up to which the seller agrees to make repairs. If the seller can't afford to make the repairs that you requested, then you can request that the amount of the repair limit be given to you at closing, so you have some money to make the repairs.

Also according to the ARA contract form, if you can't agree on the repairs, then you don't have to purchase the home and can get out of the contract, while still getting your earnest money back.

If you are purchasing a FSBO and there are no agents involved, I would suggest you seek legal counsel to evaluate the contract you did sign to determine what your rights are. If you still want to purchase the home and there is no provision for the seller making the repairs, you may have to purchase the property "as-is". If the repairs are significant and you don't want to purchase the home without them being done, there should be some way you can get out of the contract. Read it carefully.

This type of problem points up the importance of having a buyer agent to represent you in the purchase of a home, even with a FSBO. On most properties listed with a Realtor, there is no extra cost to the buyer to have an agent to represent your interests, since all commissions are already included in the purchase price. With a FSBO, your agent can negotiate a partial commission into the price. A buyer agent can also advise you in this type of situation and explain what your options are.

Whatever you decide on with the seller (and whether an agent is involved or not) be sure you get your agreement in writing.
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Fri Jul 18, 2008
Luke Allison answered:
Kenza-
The best (and simplest) way to go is to get Seller paid Down Payment Assistance. Basically, a third party non-profit organization forwards you a set agreed-upon amount of funds at the closing. These funds can be used to make your down payment and closing costs if you get enough. At closing, the seller reimburses the organization for those funds. Basically, it is an FHA-approved way for a seller to contribute funds for buyers to finance their purchases.
If you have any questions about the program, please feel free to call me. I work directly for a national mortgage bank and can originate in all 50 states.
Luke Allison
Flagstar Bank
828-777-8828
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Tue Feb 19, 2013
Nancy Chandler answered:
Several options are available to you. If you would send me your home's information, we can talk about a possible listing price that would sell your home quickly. Then, if it hasn't sold by the time you need to move, your bank can do a bridge loan, until you do. Your Bank can give you any information on financing that you might need. ... more
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Tue Jul 15, 2008
Julie Austin answered:
I have a buyer that has been looking in that area. Can you e-mail me a julieaustin@kw.com to give me more details?
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Wed Jan 25, 2012
Julie Austin answered:
Hi Patty,
Of course, "best" is relative, but West Little Rock is booming. All the neighborhoods of Chenal are newer and desirable. If you prefer older/historic homes, the Heights & Hillcrest are for you. They are bordering neighborhoods closer to downtown and have a "small town" feel. Leawood is in between both in age and in geography. North Little Rock is similar and the home prices are generally a bit lower there. Maumelle is also a consideration. It is a small town between Little Rock and N. Little Rock. It is entirely self-contained but also very convenient to WLR.
The weather is a bit crazy this time of year. Generally speaking, it is quite warm and humid during the summer and fairly mild winters with very little to no snow.
Please let me know if I can help you in any other way. I'd love to show you my home town!
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Thu Jan 24, 2008
Pam Winterbauer answered:
You may want to try craigslist and Trulia does not carry rentals on this site. Good luck.
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