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Home Buying in Waveland : Real Estate Advice

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  • Local Info1
  • Home Buying7
  • Home Selling1
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Activity 5
Fri Jan 25, 2013
Aprildmellott asked:
Wed Jan 22, 2014
enfofan answered:
limit is six months, may or may not be enforced; depends on your neighbors mostly. you will not be able to get electricity with out a building permit for the permanent structure; may be hard to get water too. ... more
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Thu Jul 7, 2011
Buy asked:
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Fri Jun 10, 2011
Dan Tabit answered:
You need to have a quality agent represent you. Your offer will be for an unnamed party, which will raise doubts and suspicions. You agent will have to compensate for this with their credibility.
Another option is the offer made in the name of another party with the ability to assign the purchase & sale prior to closing. In either event, the benefit from staying anonymous needs to outweigh the risk of doing something out of the ordinary which can have risks associated with it.
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Mon Apr 19, 2010
Don Tepper answered:
Well, obviously, you talk to people with gutted houses.

The question I suppose you're asking is: How do you find them?

A few may be listed on the MLS. Try "handman special" and similar terminology.

A lot are in foreclosure. What happened is that someone tried to rehab a home. They got partway through, then ran out of money. When those come back on the market, they'll be in the MLS, too. But then you're buying from the bank, not from the seller.

Contact hard money lenders. They'll have made loans on some of the rehabs. When the rehabber ran out of money and couldn't repay the loan, the hard money lenders foreclosed. Because the hard money lender lent at about 65% of after repair value, you should be able to get some for a good price. In fact, if you have rehabbing skills, the hard money lender might lend you the money to continue the rehab.

Also, check your local court dockets for contractors suing homeowners for non-payment. In some cases--as with the rehabs mentioned above--it's possible the homeowners ran out of cash for the renovation or rehab. In this case, contact the homeowner.

Hope that helps.
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