Generally, lease-options typically aren't implemented as programs. Usually, private investors (myself included) will offer to enter into such an arrangement with a potential tenant/buyer. You'll most likely not find them via an internet or MLS search--they're typically negotiated.... more
I've searched for this "Partical Loan" you referred to but found nothing other than websites saying it's a common misspelling for the word partial.
However a fist time homebuyer is defined by most lending programs as someone who has not owned a primary residence in the last 3 years. If you have lived in a home you own in AZ for the past 10 years, that would make you ineligible per that definition. But I am not familiar with this loan you are talking about, if it is a specific one, so if it is a specific program they may have different requirements/definition of a first time homebuyer.
Would be buying this home as your primary residence to live in? Do you have employment in the Rio Vista area?... more
http://www.trulia.com/voices/directory/Fairfield-agent--14081?sort_order=best_answers has a list of agents which cover the Fairfield area who are also active participants in the Trulia Voices community.... more
Don't sign anything until it is correct on all documents. That mistake is inexcuseable. I had a problem between ave and road and had to spend time to correct it after the sale.
David Cooper..Las vegas Foreclosure Investor in Bank Owned REOs with Cash Flow. email or call for FREE daily list. +1-7024997037 not a real estate agent... more
It's impossible to answer the question as a loan application takes into account lots of criteria besides credit.
You may be able to get a loan (particularly with the big down payment) but who knows what the rate would be. The only way to find out is to apply for the loan, pay the $17 for the credit report, and then the lender can give you an accurate quote.... more
One of the issues is construction defects. It is normal for a HOA to sue the builder shortly before the 10th year after construction aledgeing any defects. Other problems there might be unpaid HOA fees from clients in foreclosure or units owned by banks. Do you have access to the HOA documents. Are you considering purchasing one or presently and owner. We recently had a buyer who could not get financing there..... more
Is that the lot at the end of a cul-de-sac that backs to the drainage canal? (I live in the neighborhood) Anyway, that is a tough question because smaller lots tend to sell for more per square foot than acreage does. I pulled the comps and there aren't any closed sales on the same side of town, but there are several lots that sold off of Vine St. These lots were around 1/2 acre and sold for under $100,000.
My opinion is that a .25 lot in the Stonegate area should sell for around $50-60,000. Call or email me if you would like me to email you the comps I was referring to.
Yes, you can. Have your Listing Agent contact the Buyers Agent to get that. If you decide not to accept this offer, have your Listing Agent make a pre-qualification/pre-approval letter a requirement to be submitted with any future offers. Your agent should also make proof of funds a requirement. They can put this in the Agent Remarks section of the MLS. You don't want to accept an offer without knowing if the buyer can actually purchase your home.
If you have any other questions, please feel free to contact me.
your agent will be able to direct you to the language needed in your offer for appraisal details. In fact with the VA Loan there are additional addendums to the offer, which the language should be in there for your appraisal concerns. the issue with Pest Repairs? The VA wont approve/clear/give you a loan for a home that has damage. That is one of the good/bad deals about VA they are very protective for you the buyer, so any repairs would not only need to be made prior to you moving in by the seller but they would need to be done by seller prior to your home inspection for VA approval. I say good/bad because the seller might not want to jump through the hoops the VA forces them too making it a bad deal for you because seller might choose another buyer without all the VA restrictions.
Best of Luck...oh by the way, here is a blog i wrote about buying the home of your dreams.
(small) Oversea investors or out of the area investors are very skittish about rental investments as there are many potential traps or scams existing. They tend to invest where other investors (with same background/nationality) have blazed ahead and established connections. Referral is EVERY thing.
You have to put your proposal together as a package deal ( yes LLC ownership, Property Management, and minor post closing supports, Taxes , HOA etc ...). You really have to prove yourself on the first property. Once you have it down pack, word of mouth will happen. Killer deal by itself will not be enough.
ps: where exactly in Fairfield , next to the Base ?... more
Unfortunately, none of us can answer the question with accuracy, as none of us knows where the market will head tomorrow or down the road; if looking to buy, buy when you are ready and need to buy.... more
That can only be determined by you and your individual criteria. Realtors are prohibited from discriminating against or stigmitizing locations , homes, etc.. You can very easily Google schools, crime, etc. for info, to draw your own conclusion.... more
You should be working with a local Real Estate agent and asking for them to pull comps on the recently sold properties to see what the market values are. That is the best strategy. If properties aren't selling and just sitting on the market than your strategy may have a better chance.... more
It really depends on the lender. Some properties will be on the market for sale within a couple weeks, while others may take months. Your Realtor can also contact the bank directly on the property that you might be interested in. If you need help with this please feel free to contact me.... more
There are positive cash flows to be had through out Vallejo, I'd recommend a property management firm after the purchase. They questions you ask are also asked by potential tenants. You want to appeal to as many potential tenants as possible in order to have a good pool of prospects to choose from. Also if the property is appealing you can ask for higher rents. Generally the more expensive the property the more appealing it will be. So, rather than pay $90k cash you might consider a loan with 25-30% down. An investor can earn for example 300-$1000 month after the mortgage payment is paid and have a higher income tenant which usually translates to a professional or para-professional tenant. Instead of purchasing one property, you might be able to purchase two.... more