My parents want to sell their house and travel. I want to purchase the house from them. They will sell it to me for $80K and the house is valued at $250 +. I would like to get a mortgage of about $120 – 150 K so I can do some repairs / fix up to the house. What are the downfalls of doing this? and what penalties will there be for this type of sale? Your answers are appreciated.
Posted in Homes For Sale
Tagged buyer, FICO, fix, Home, house, mortgage, mortgage questions, parents, score, time, time home buyer, Travel, type
It sounds to good to be true and i am a first time home buyer so i am very nervouse… It is a brick home over 2500 sq ft w/firplace 4 bdrm 2 ba. what do you think??? What do i need to look out for??? thank you!!
Posted in Homes For Sale
Tagged ba, Brick, buyer, equity, first time home, first time home buyer, Home, house, house for sale, investors, nervouse, owner, rto, sale, sq ft, time, time home buyer
I have a credit score of 415. The 3 bedroom house I want to get is only $44,000 and ready to move into.
Posted in Mortgage Tips
Tagged bad credit, bedroom, buyer, Company, credit, credit score, first time home, first time home buyer, Home, house, mortgage, mortgage company, score, Texas, time, time home buyer
My bf and I are looking at buying we got preapproved for a loan of 184,900 which is the asking price for the loft we are intrested in.
Some History:
www.thefremont.com
The loft has been sitting since April with no buyers , the investor that bought 6 of the 92 units has 3 still avaible since April1/06.
There is still 20 something units in this building for sale.
We prefer to buy thru the investor because the realtors seem much easier to reach and get answers from.
They included the blinds ( 2 windows @ 300 dollars a peice, they are huge old mill windows) and washer and dryer ( estimated value of $1,000)
They are offering $4,000 paid towards closing cost.
The Fremont Lofts realtors that still have about 20 units open are offer Condo Fees paid for a year ( value of 1,986)
So here I ask what is the lowest we can offer without insulting them but for us to get a good deal?
The investor paid 144k for the units he bought, and he has been sitting on them since April.
We are putting down only 5% as first time home buyers it is pretty tough to put down more..
Posted in Homes For Sale
Tagged advice, asking price, bf, buyer, Home, knowledgeable advice, loan, loft, price, time, time home buyer