Sunday, February 28, 2010
I have 40000$ .....?you thing is enough to have wedding and buy House?
my credit is decent?
he home value about 140000I have 40000$ .....?you thing is enough to have wedding and buy House?
The down payment on that home could be anywhere from $4000 to $11000 or more depending on the percent required for the loan. So you would have enough to cover the down payment, but in order to have the wedding too you would have to decide how much you want to spend on it. The other thing to keep in mind is the monthly mortgage and other bills that come along with owning a house! Such as closing costs and any improvements you would like to make to the house!I have 40000$ .....?you thing is enough to have wedding and buy House?
You should sit down with your fiance and your mortgage provider and ask this question to them.
Some people feel comfortable and are financially able to buy a home with no money down. Others need a down payment. There are also other costs involved in buying a home (repairs, moving fees, taxes, inspections, Realtor's fees (if any)) that you need to consider beyond the mortgage payment.
For some people, $40,000 is their wedding budget. If this is you and you need any amount of money for the home, then obviously it is an impossibility. If you can manage a wedding for $10,000 and put $30,000 towards the house and live comfortably with that, then of course it will work for you.
Well, depending on what way you look at it $500 is enough to get married and buy a house. I've heard of people who have gotten married on just the $100 it costs for the marriage license and other processing charges. We bought a $140,000 house and had 100% bank financing (couldn't have put down a down payment if we wanted to since it was a special first-time buyer program for people with good credit). Otherwise if you don't qualify for something like that banks normally like 15% or in your case 21,000. Add on the $5,000 in closing costs (not to mention possible other costs) and you're left with $10,000 for the wedding. Whether or not that's enough is completely up to you.
Yes, but almost all the money should go towards the house. Nowadays it's hard to put down less than 20% (more is better of course). And don't forget lawyers fees, brokers fees and so forth. And the moving costs, furniture, any renovations/repairs, insurance, etc.
You can have a wedding with the rest. Even if the remaining amount is only $100. Really all you need is a marriage license and an officiant (maybe get married in City Hall) with a witness or 2 or how ever many are required. Wear the nicest outfits you have instead of buying/renting ones. Take pictures and video with digital cameras you already own. You don't even need rings (tell the officiant you're skipping that part) or if you do want rings, you can get ';fashion'; rings for a nominal price (I saw some gold plated wedding bands on sale for $24.95 once) Maybe some cake and punch and some finger foods (pot luck?) at home if you like. Basically a small, intimate wedding.
You'll be just as married as if you spent the entire amount on a wedding (and probably less stressed; and you get bragging rights - ';We had a wonderful wedding for less than $__)
And if you still want a wedding with all the bells %26amp; whistles, consider a vow renewal ceremony/reception years from now when you can afford it.
Best of luck!
Here's some free life secrets...
%26gt; The cheaper the wedding, the more you get to spend on the honeymoon.
%26gt; The wedding is weeks of planning and only ONE day of play. Most of the time you're too tired at the end of the day to ';play'; on the wedding night.
%26gt; The less you put down on the house, the more your write offs are for taxes. Take what money you might have used for a down on the house and pay OFF the credit cards. You'll save more on NOT paying interest and fees than you'd save on using it as a down.
%26gt; Only pay extra on the house payment after 1/4 of the time has passed. (i.e. ~7yrs on a 30 yr loan). Only then are the benefits used wisely.
%26gt; You only need ONE Visa card. Even if it's a Visa-check card that draws straight from your account.
%26gt; If you MUST have more than one Visa. Have a low limit and only use ONE for internet purchases.
I may have gotten off track a bit but I was on a roll, sorry.
Yes, if you elope or have a courthouse wedding. You'll be close to $30K with just a 20% down (and that's without closing costs, commission, etc.) And you need cash for other work (paint, roof, electrical, plumbing, carpet, landscaping etc.)
Enough to put a decent deposit on the house.. IF you plan a modest wedding, don't go overboard, if that is the amount of money you have I would say no more than $5000. should be spent on your wedding, you will be thankful for the low mortgage payments!
Not really. Probably enough for a decent downpayment and costs associated with buying.
Depends how big you want your wedding to be. Weddings can be $50-well over 40,000.
what I know ,I can recommend a cheap and good quality wedding apparel website.you will save a lot by it.
depends, could be..Not enough to buy the house but enough to put deposit down and get a mortage.
if your moving to mexico.
Sorry don't think so.
No.
Spend most of the money on the house. My wedding cost less than $1000.
I am selling my home in Oberlin Ohio - 2 y/old house, do you know a company that buy houses?
Look in your yellow pages, they are out there. But realize they are going to pay you well below market value and prey upon people who are very close to foreclosure who have little to lose anyway. You are better off just lowering the price of your house and keep some equity if any exists.I am selling my home in Oberlin Ohio - 2 y/old house, do you know a company that buy houses?
I'm not sure of those companies that buy houses. But I can find you a licensed company to help you sell your house.I am selling my home in Oberlin Ohio - 2 y/old house, do you know a company that buy houses?
I'm a Northeastern Ohio REALTOR... I don't know of any investors looking to buy right now, but if I do, I could let you know.
Contact me and give me your particulars, etc.
I'm not sure of those companies that buy houses. But I can find you a licensed company to help you sell your house.I am selling my home in Oberlin Ohio - 2 y/old house, do you know a company that buy houses?
I'm a Northeastern Ohio REALTOR... I don't know of any investors looking to buy right now, but if I do, I could let you know.
Contact me and give me your particulars, etc.
My husband and I have good scores..can we buy house now?
my midle score is 629 and my husbands is 687...can we purchase a home now....or wait until credit goes up cause we want a good interest rate with a 30 ye fixed arm...we found a house 8 years old for 149,000 and a house that is 2 years old for 139,000
3 minutes ago - 4 daysMy husband and I have good scores..can we buy house now?
yes an FHA insured mortgage can work for you so see a mortgage professional as to just how much home you can buy as the debt to income ratio is very important
I am a mortgage banker in TNMy husband and I have good scores..can we buy house now?
do you have the down payment? and I believe due to the recent faux pas in the mortgage industry, a required 10% is again the norm
also would your payments be 25% of your income?
if you think you have some basis, apply, the worst they can say is no
If you can make a 20% down payment and have an annual income of about 1/2 what the mortgage will be you have a decent probability of getting a mortgage. My advice is to buy now if you can while house prices and interest rates are at their lowest point in many years. If your credit score goes up in a year or two you can look into refinancing at a lower interest rate.
you need 3.5% for FHA plus about 3% more in closing costs. if you have the cash go for it now while rates are down.
you could get into an FHA loan with a minimum 3.5% down paymentt. Interest rates are at an all time low.loan
3 minutes ago - 4 daysMy husband and I have good scores..can we buy house now?
yes an FHA insured mortgage can work for you so see a mortgage professional as to just how much home you can buy as the debt to income ratio is very important
I am a mortgage banker in TNMy husband and I have good scores..can we buy house now?
do you have the down payment? and I believe due to the recent faux pas in the mortgage industry, a required 10% is again the norm
also would your payments be 25% of your income?
if you think you have some basis, apply, the worst they can say is no
If you can make a 20% down payment and have an annual income of about 1/2 what the mortgage will be you have a decent probability of getting a mortgage. My advice is to buy now if you can while house prices and interest rates are at their lowest point in many years. If your credit score goes up in a year or two you can look into refinancing at a lower interest rate.
you need 3.5% for FHA plus about 3% more in closing costs. if you have the cash go for it now while rates are down.
you could get into an FHA loan with a minimum 3.5% down paymentt. Interest rates are at an all time low.
If I buy house in USA (cash), can I get green card ?
Either marriage or the military - home sale won't get it for you.If I buy house in USA (cash), can I get green card ?
In some countries, if you invest a lot of money, you can live there. Belize is like that, I think. I think Canada used to be like that. I don't think the U.S. is like that. In the U.S., if you are from a country that the U.S. fought, you can come (examples, Vietnam, Iraq). Cubans can come easily, all they need to do is set foot on land. People from Haiti, which is near Cuba, are sent back.If I buy house in USA (cash), can I get green card ?
Property ownership is not a condition that gets you a green card.
No, and marrying someone doesn't get you an automatic greencard either.
No, but if you marry someone you can.
Not until you satisfy all the requirements. Home ownership is NOT one of them.
shouldnt you get a green card before coming here or are you just visiting?
One has nothing to do with the other........
In some countries, if you invest a lot of money, you can live there. Belize is like that, I think. I think Canada used to be like that. I don't think the U.S. is like that. In the U.S., if you are from a country that the U.S. fought, you can come (examples, Vietnam, Iraq). Cubans can come easily, all they need to do is set foot on land. People from Haiti, which is near Cuba, are sent back.If I buy house in USA (cash), can I get green card ?
Property ownership is not a condition that gets you a green card.
No, and marrying someone doesn't get you an automatic greencard either.
No, but if you marry someone you can.
Not until you satisfy all the requirements. Home ownership is NOT one of them.
shouldnt you get a green card before coming here or are you just visiting?
One has nothing to do with the other........
Is it safe,good to buy house in singapore..?
many ppl prefer MalaysiaIs it safe,good to buy house in singapore..?
go USIs it safe,good to buy house in singapore..?
yes as long as the global warming do not come too sudden
it is still an island with too many reclaimed area
yes, of course it is safe to buy a house in Singapore, but i guess for a foreigner, they can only buy private property, unless they are Singapore PR, 88db website has list of private residential property for sale, and if you intend to buy a house in Singapore, i'd suggest get a housing agent to guide you more, so you won't get cheated
it is better to buy in Australia
Better to buy in CHINA ...
hmmph .... :(
why ?
of all places
no, not in singapore
Foreigners can only buy condominium units. Those around the Orchard Road and Marina Bay areas are very expensive. Get those at Marine Parade area which have potential. No major floods, typhoons, hurricanes, earthquakes, etc ---so very safe. Engineering and construction standards very high and no condos have collapsed so far. Property still cheaper than in Hong Kong, Shanghai, Tokyo. Happy buying!
Australia better
if you are a foreigner there are some restrictions to owning a home in singapore. check out http://www.ura.gov.sg/homeowner/overview鈥?/a>
prices of homes in singapore are relatively high as land is scarce. most homes are of leasehold status (99 yrs, 999yrs), which means that after the stipulated lease period the title reverts to the land owner - which is typically the government. freehold properties are usually priced at a premium.
the current realty market in singapore, i believe, is still at a high. although i forsee it declining in the next few years when the market reacts to the US and Japan economic problems. so my take is to wait and watch for now but track the prices.
well, best of luck!
r u serious ??
singapore is safe, no natural disasters, hardly any burglaries
UNLIKE china were whenever you eat food or wear clothes bought from there, you worry wether you are eating cardboard or if you going to explode
Yes, it is safe and good to buy house in Singapore.
go USIs it safe,good to buy house in singapore..?
yes as long as the global warming do not come too sudden
it is still an island with too many reclaimed area
yes, of course it is safe to buy a house in Singapore, but i guess for a foreigner, they can only buy private property, unless they are Singapore PR, 88db website has list of private residential property for sale, and if you intend to buy a house in Singapore, i'd suggest get a housing agent to guide you more, so you won't get cheated
it is better to buy in Australia
Better to buy in CHINA ...
hmmph .... :(
why ?
of all places
no, not in singapore
Foreigners can only buy condominium units. Those around the Orchard Road and Marina Bay areas are very expensive. Get those at Marine Parade area which have potential. No major floods, typhoons, hurricanes, earthquakes, etc ---so very safe. Engineering and construction standards very high and no condos have collapsed so far. Property still cheaper than in Hong Kong, Shanghai, Tokyo. Happy buying!
Australia better
if you are a foreigner there are some restrictions to owning a home in singapore. check out http://www.ura.gov.sg/homeowner/overview鈥?/a>
prices of homes in singapore are relatively high as land is scarce. most homes are of leasehold status (99 yrs, 999yrs), which means that after the stipulated lease period the title reverts to the land owner - which is typically the government. freehold properties are usually priced at a premium.
the current realty market in singapore, i believe, is still at a high. although i forsee it declining in the next few years when the market reacts to the US and Japan economic problems. so my take is to wait and watch for now but track the prices.
well, best of luck!
r u serious ??
singapore is safe, no natural disasters, hardly any burglaries
UNLIKE china were whenever you eat food or wear clothes bought from there, you worry wether you are eating cardboard or if you going to explode
Yes, it is safe and good to buy house in Singapore.
Planning to buy House and Lot in Philippines...?
does anyone here wanna share suggestions... in Where is the best place to have house? and is it Safe? I kinda thinking about manila but i feel 50/50 bcuz its kinda surrounded by bad people... you know those snatchers, etc., dont wanna risk my and hubby's life hehe...
Thanks guys in Advance....Planning to buy House and Lot in Philippines...?
Try Baguio City or some of the island or places with a lot Expats. (Dumaguete City, Bantayan Island,Cebu, Bohol...) Always make sure that there's a nearest hospital nearby for health reasons.
(--,)
Check out this website:
http://www.livinginthephilippines.com/co鈥?/a>Planning to buy House and Lot in Philippines...?
you should but the house and lot in a gated community or go to the province, the only disadvantages of having a house in the province you can't access things easily.
wherever you go there will always be danger.
You didn't specify what kind of environment you want to live in. If you want a business district Makati, Alabang is the right place for you. If you want scenic spots with nice view, then Baguio, Tagaytay are the favorite locations. Inside a subdivision you are surrounded by perimeter fences and gates are manned by security guards, so it's relatively safe
The question is how much is your budget? We have residences %26amp; condos that range from 100k USD and up with everything at your reach, of course the environment is classier and way less dangerous as the prices go up. If you can afford it you don't have to worry about ';snatchers'; because of the location you rarely encounter snatchers, you encounter salisis or kidnappers, but again since security is better that too is seldom.
here at Baguio City, the people are petty nice, the city has the lowest crime rate in the Philippines and the climate is cool.... we can be neighbors i live here at suello village, nice neiborhood....
the best place would be cebu. try kishanta and look up their website. developed by aboitizland and a good deal. just got one for investment purposes.
not Baguio! we are overcrowded already here even in La Trinidad. And there are so many real estate scams 'coz of the number of people who want to have a residence here.
why not try Palawan, Laguna-Batangas, Quezon. Sure bet is Batanes 'coz it's proven that people there are real honest. the only catch would be the number of tropical storms passing by there. he he he...
There are plenty of nice clean and safe gated subdivisions here in Iloilo and in Bacolod City. Here in Iloilo you can have a nice house abt 200sqm floor area for 3 mil pesos and the land will cost btn P 2,000 to P 5,200 Psm. I live in the Visayas in Iloilo City for the past 5 years. It's a nice small city with very little crime or pollution. Bacolod City is also a nice place worth checking out .
baguio city would be one of the best, Climate is cool, but i think, it was already over crowded. another one in manila area would be in Las pinas city. Cebu in visayan region is also good particularly in Mactan City. Or In Malaybalay Bukidnon, it is also a peacful place. try to contact a real real estate agent and don't believe to those asking here if you want a house n lot in the philippines. You may have idea who she is. in fact, she has a posting just this few days. coz, once you said that you're interested, she will tell you that she's going to recommend you to her friend... hehe Have a hint?
Thanks guys in Advance....Planning to buy House and Lot in Philippines...?
Try Baguio City or some of the island or places with a lot Expats. (Dumaguete City, Bantayan Island,Cebu, Bohol...) Always make sure that there's a nearest hospital nearby for health reasons.
(--,)
Check out this website:
http://www.livinginthephilippines.com/co鈥?/a>Planning to buy House and Lot in Philippines...?
you should but the house and lot in a gated community or go to the province, the only disadvantages of having a house in the province you can't access things easily.
wherever you go there will always be danger.
You didn't specify what kind of environment you want to live in. If you want a business district Makati, Alabang is the right place for you. If you want scenic spots with nice view, then Baguio, Tagaytay are the favorite locations. Inside a subdivision you are surrounded by perimeter fences and gates are manned by security guards, so it's relatively safe
The question is how much is your budget? We have residences %26amp; condos that range from 100k USD and up with everything at your reach, of course the environment is classier and way less dangerous as the prices go up. If you can afford it you don't have to worry about ';snatchers'; because of the location you rarely encounter snatchers, you encounter salisis or kidnappers, but again since security is better that too is seldom.
here at Baguio City, the people are petty nice, the city has the lowest crime rate in the Philippines and the climate is cool.... we can be neighbors i live here at suello village, nice neiborhood....
the best place would be cebu. try kishanta and look up their website. developed by aboitizland and a good deal. just got one for investment purposes.
not Baguio! we are overcrowded already here even in La Trinidad. And there are so many real estate scams 'coz of the number of people who want to have a residence here.
why not try Palawan, Laguna-Batangas, Quezon. Sure bet is Batanes 'coz it's proven that people there are real honest. the only catch would be the number of tropical storms passing by there. he he he...
There are plenty of nice clean and safe gated subdivisions here in Iloilo and in Bacolod City. Here in Iloilo you can have a nice house abt 200sqm floor area for 3 mil pesos and the land will cost btn P 2,000 to P 5,200 Psm. I live in the Visayas in Iloilo City for the past 5 years. It's a nice small city with very little crime or pollution. Bacolod City is also a nice place worth checking out .
baguio city would be one of the best, Climate is cool, but i think, it was already over crowded. another one in manila area would be in Las pinas city. Cebu in visayan region is also good particularly in Mactan City. Or In Malaybalay Bukidnon, it is also a peacful place. try to contact a real real estate agent and don't believe to those asking here if you want a house n lot in the philippines. You may have idea who she is. in fact, she has a posting just this few days. coz, once you said that you're interested, she will tell you that she's going to recommend you to her friend... hehe Have a hint?
How to prepare to buy house?
i am wanting people's advice on what to do prepare to buy a house. i want to buy a house in about 12 months within the 150k to 250k price range, currently i have a credit score of 650ish will have 20k or 30k down payment with a yearly salary of 120k.How to prepare to buy house?
You seem to be in a very good shape already to buy a house. If you don't want to buy now (depending on the area, I would strongly suggest to reconsider since prices are very low right now and so are interest rinterestu might want to start ';house shopping'; now
However If you don't want to buy before 12 month from now, I would suggest that you drive through certain areas where you would like to move to. Talk to neighbors, check out the locations, check out the infra structures (central water and sewer vs. well and septic) - use the time until you are ready to buy to really find the area where you would like to be.
You can always change a house (color, rooms, pool, and so fort) but you can never change the area.
Once you found ';your'; area, continue coming back, continue talking to the neighbors, go to local restaurants and shops, get familiar with it. And who knows may be you run accidently iaccidentaldream home';. Talk to a local Realtor and ask him or her to keep his or her eyes open for you, tell him/her what you are looking for - and then be ready to move on a home in your area as soon as it meets your criteria.
Just one advise - the most important rule in Real Estate is always ';Location, Location, Location';How to prepare to buy house?
If you have any debts pay them down as much as you can. Check your credit report. You can request your credit reports from all three of the national agencies at www.annualcreditreport.com. Type this URL carefully because several other sites will try to sell you other things.
Most people's credit reports contain errors. A 2004 study showed that more than 70% of consumers' credit reports had significant errors and 23% of the mistakes were enough to result in denial of credit. Check yours and work to correct any mistakes with the agencies and with any company that is providing them with bad information.
Your score is high enough that you probably don't have to worry about denial of credit but a better score will qualify you for better mortgage programs and, therefore, cost you less in interest which results in a lower monthly payment.
Definitely, do find a good buyer's agent. Don't worry about letting them show you homes listed by their office, though. A quality agent will represent you 100% and be your effective advocate regardless of whether the home you want is listed through another agent with the same company.
The best agents will provide you will all the information about all listings that match your criteria from every real estate company. You should be in complete control of deciding which houses to view.
However, the other answer is partially correct, if you should decide to make an offer on a home listed by your agent, find another agent to represent you on that transaction. Nobody can represent two opposite sides as well as you deserve.
I would be glad to help you find a great buyer's agent. Just contact me if you would like a referral for the type of agent I recommend.
find a buyer's agent or an exclusive buyer's agent and
never let your agent also rep the seller or show you a lisitng
from their office
You seem to be in a very good shape already to buy a house. If you don't want to buy now (depending on the area, I would strongly suggest to reconsider since prices are very low right now and so are interest rinterestu might want to start ';house shopping'; now
However If you don't want to buy before 12 month from now, I would suggest that you drive through certain areas where you would like to move to. Talk to neighbors, check out the locations, check out the infra structures (central water and sewer vs. well and septic) - use the time until you are ready to buy to really find the area where you would like to be.
You can always change a house (color, rooms, pool, and so fort) but you can never change the area.
Once you found ';your'; area, continue coming back, continue talking to the neighbors, go to local restaurants and shops, get familiar with it. And who knows may be you run accidently iaccidentaldream home';. Talk to a local Realtor and ask him or her to keep his or her eyes open for you, tell him/her what you are looking for - and then be ready to move on a home in your area as soon as it meets your criteria.
Just one advise - the most important rule in Real Estate is always ';Location, Location, Location';How to prepare to buy house?
If you have any debts pay them down as much as you can. Check your credit report. You can request your credit reports from all three of the national agencies at www.annualcreditreport.com. Type this URL carefully because several other sites will try to sell you other things.
Most people's credit reports contain errors. A 2004 study showed that more than 70% of consumers' credit reports had significant errors and 23% of the mistakes were enough to result in denial of credit. Check yours and work to correct any mistakes with the agencies and with any company that is providing them with bad information.
Your score is high enough that you probably don't have to worry about denial of credit but a better score will qualify you for better mortgage programs and, therefore, cost you less in interest which results in a lower monthly payment.
Definitely, do find a good buyer's agent. Don't worry about letting them show you homes listed by their office, though. A quality agent will represent you 100% and be your effective advocate regardless of whether the home you want is listed through another agent with the same company.
The best agents will provide you will all the information about all listings that match your criteria from every real estate company. You should be in complete control of deciding which houses to view.
However, the other answer is partially correct, if you should decide to make an offer on a home listed by your agent, find another agent to represent you on that transaction. Nobody can represent two opposite sides as well as you deserve.
I would be glad to help you find a great buyer's agent. Just contact me if you would like a referral for the type of agent I recommend.
find a buyer's agent or an exclusive buyer's agent and
never let your agent also rep the seller or show you a lisitng
from their office
Where can i buy house of dereon clothes?
At the House of Dereon, fool.Where can i buy house of dereon clothes?
at the website I think its dereon.com
at the website I think its dereon.com
Im planning to buy house,, but i heared that real estate will fall . will it be worth of waiting ?
If you are buying a home to live in now is a great time to buy a home. Don't let the media scare you because all real estate is local. Most areas of the country are not seeing the major fall off that the larger urban areas you have been seeing on TV have.
Just look at it as a long term investment you can enjoy while it matures. Even though prices may have taken a dip recently they will go up again. As long as you plan to live in a home for a few years it should go up in value. Find a Realtor you are comfortable working with and start looking. But if you are planning to move again in a year or two, you may want to consider renting.
Hope this helps,
JoshIm planning to buy house,, but i heared that real estate will fall . will it be worth of waiting ?
You have to ask yourself if you've actually heard this from a reliable source. The thing is interest rates are at an all time low right now and the longer you wait they could potentially go up. I suggest that you start looking for a home that you'd like to buy now. If you find something that you want at an affordable price, then it is worth buying it now.Im planning to buy house,, but i heared that real estate will fall . will it be worth of waiting ?
yes the bottom of this market has not been reached, there will be some real bargains very soon with all the foreclosing going on
Maybe and then again maybe not. Market bottoms can only be known in hindsight not foresight. Prices are down substantially in certain markets but have risen in others. So, it depends where you want to buy. In the currently weak areas of the country I would guess that there is still a little ways to go but that most of the drop has already taken place. In strong areas, the prices will not drop anytime in the future. In either case there is not a big hurry because I believe the real estate market will remain depressed for awhile yet(9 to 18 months) before price appreciation becomes a common thing in all market areas.
your asking yourself the right questions, and your answer is are you ready, find the facts of the areas were you want to live, you have more time in your hands because of the current market, make low offers and see what happens the market is one that you participate in, don't just stand on the side lines.
Depends where you are located. Most areas still have a way to go before the excess is wrung out. But if the time is right for you, and you take a long-term view, now is a good time buy. Rates are low, inventories are high, sellers are dealing. All good factors for a buyer. If you're in San Diego, Orange Co., Vegas, Phoenix, Miami - wait. Otherwise, shop away.loan
Just look at it as a long term investment you can enjoy while it matures. Even though prices may have taken a dip recently they will go up again. As long as you plan to live in a home for a few years it should go up in value. Find a Realtor you are comfortable working with and start looking. But if you are planning to move again in a year or two, you may want to consider renting.
Hope this helps,
JoshIm planning to buy house,, but i heared that real estate will fall . will it be worth of waiting ?
You have to ask yourself if you've actually heard this from a reliable source. The thing is interest rates are at an all time low right now and the longer you wait they could potentially go up. I suggest that you start looking for a home that you'd like to buy now. If you find something that you want at an affordable price, then it is worth buying it now.Im planning to buy house,, but i heared that real estate will fall . will it be worth of waiting ?
yes the bottom of this market has not been reached, there will be some real bargains very soon with all the foreclosing going on
Maybe and then again maybe not. Market bottoms can only be known in hindsight not foresight. Prices are down substantially in certain markets but have risen in others. So, it depends where you want to buy. In the currently weak areas of the country I would guess that there is still a little ways to go but that most of the drop has already taken place. In strong areas, the prices will not drop anytime in the future. In either case there is not a big hurry because I believe the real estate market will remain depressed for awhile yet(9 to 18 months) before price appreciation becomes a common thing in all market areas.
your asking yourself the right questions, and your answer is are you ready, find the facts of the areas were you want to live, you have more time in your hands because of the current market, make low offers and see what happens the market is one that you participate in, don't just stand on the side lines.
Depends where you are located. Most areas still have a way to go before the excess is wrung out. But if the time is right for you, and you take a long-term view, now is a good time buy. Rates are low, inventories are high, sellers are dealing. All good factors for a buyer. If you're in San Diego, Orange Co., Vegas, Phoenix, Miami - wait. Otherwise, shop away.
Can you buy house with cash?
or do you need paer work, job references or such to prove where the money is from?
my mum gave me alot of money as my inheritance however gave it to me cash, she is muslim and doesnt believe in banking and interest.
do i have to show them she gave it to me?Can you buy house with cash?
You will have to buy the house with a check of some sort then to prove you bought it. Otherwise, the previous owner can come back and say you never paid them.Can you buy house with cash?
That sort of disclosure is necessary when you wish to borrow money to buy a house. The lender wants to be sure that you are using your money and not borrowed money for the down payment.
If you are paying 100% cash(in other words there will be no mortgage) then you need not disclose the source of the money.
Hmmmmmmmmmmm........I'm going to type this, than contact a friend of mine at The Department of Homeland Security, sounds to me, judging from your other question as well, that you are not the recipient of an inheritance but the recipient of ill gotten gains, you are using Yahoo! genius, you are going to be traced and investigated.....I hear Cuba is very warm this time of year, enjoy Guantanimo.
You wont be able to take ';Cash'; to the closing, you will have to get a Cashiers Check or some other form. This may also be reported to the IRS. Someone along the line will want to know where the ';cash'; came from.
my mum gave me alot of money as my inheritance however gave it to me cash, she is muslim and doesnt believe in banking and interest.
do i have to show them she gave it to me?Can you buy house with cash?
You will have to buy the house with a check of some sort then to prove you bought it. Otherwise, the previous owner can come back and say you never paid them.Can you buy house with cash?
That sort of disclosure is necessary when you wish to borrow money to buy a house. The lender wants to be sure that you are using your money and not borrowed money for the down payment.
If you are paying 100% cash(in other words there will be no mortgage) then you need not disclose the source of the money.
Hmmmmmmmmmmm........I'm going to type this, than contact a friend of mine at The Department of Homeland Security, sounds to me, judging from your other question as well, that you are not the recipient of an inheritance but the recipient of ill gotten gains, you are using Yahoo! genius, you are going to be traced and investigated.....I hear Cuba is very warm this time of year, enjoy Guantanimo.
You wont be able to take ';Cash'; to the closing, you will have to get a Cashiers Check or some other form. This may also be reported to the IRS. Someone along the line will want to know where the ';cash'; came from.
Planing to buy house in Rabat Morocco?
can i get a home with a garage to buy in Rabat if i have 50 thousand canadian dollars ?
or how much would it cost,just a guess, would be appreciatedPlaning to buy house in Rabat Morocco?
It depends on many factors, like which part of Rabat you want to live in. If you want to live in Agdal, no way. But I'm sure if you looked hard enough you may find something.Planing to buy house in Rabat Morocco?
50 thousand canadian dollars should be able to get you a decent house with garage but again it depends on the location.
You can search for houses for sale in Morocco/Rabat that should give you an idea of the current rates.
With 50.000Can you can buy a little house in a small town without the garage probably, But I doubt you'll find anything in Rabat.
But with that money you can get a two bedroom condo
I agree with Casablanca...it isn't likely to find a house in Rabat for that little.
ok
or how much would it cost,just a guess, would be appreciatedPlaning to buy house in Rabat Morocco?
It depends on many factors, like which part of Rabat you want to live in. If you want to live in Agdal, no way. But I'm sure if you looked hard enough you may find something.Planing to buy house in Rabat Morocco?
50 thousand canadian dollars should be able to get you a decent house with garage but again it depends on the location.
You can search for houses for sale in Morocco/Rabat that should give you an idea of the current rates.
With 50.000Can you can buy a little house in a small town without the garage probably, But I doubt you'll find anything in Rabat.
But with that money you can get a two bedroom condo
I agree with Casablanca...it isn't likely to find a house in Rabat for that little.
ok
Should I buy house or land in San Jose, CA?
There is a close to 18 acre land available for the same price as a hosue would on a half acre land.
When is investment in land a better idea?Should I buy house or land in San Jose, CA?
that is a toss up in my opionon because if you buy the house you can live in it and dont have to pay rent but the prop would be great alsoShould I buy house or land in San Jose, CA?
Land:
Is the the Land developable. Meaning is the land within the General Plan of the City to make into development. If so that you may have a gold mine there. The other is that you would have to have at least 40% down for financing purposes and you would have to have a good exit strategy. Meaning basically what are going to do with the land in 5 years. Since most investors dont want to hold onto land in there portfolio that is why that will only give short term notes. So check with the City's County Recorder's Office or Tax Assessor Office and find out if the property you seek is available for development.
House is always a good investment especially in San Jose, Ca. Even if its run down you can fix it up with very little money and turn it into extra cash couple years down the road.
Have any more questions or want me to research the parcel for you please contact me.
HAPPY LIVING!
When is investment in land a better idea?Should I buy house or land in San Jose, CA?
that is a toss up in my opionon because if you buy the house you can live in it and dont have to pay rent but the prop would be great alsoShould I buy house or land in San Jose, CA?
Land:
Is the the Land developable. Meaning is the land within the General Plan of the City to make into development. If so that you may have a gold mine there. The other is that you would have to have at least 40% down for financing purposes and you would have to have a good exit strategy. Meaning basically what are going to do with the land in 5 years. Since most investors dont want to hold onto land in there portfolio that is why that will only give short term notes. So check with the City's County Recorder's Office or Tax Assessor Office and find out if the property you seek is available for development.
House is always a good investment especially in San Jose, Ca. Even if its run down you can fix it up with very little money and turn it into extra cash couple years down the road.
Have any more questions or want me to research the parcel for you please contact me.
HAPPY LIVING!
Can I buy house without credit history? Plus I have green card (not US citizen)?
Yes, any one in the world can buy property in the US.
You do not need credit to buy, only to borrow money.Can I buy house without credit history? Plus I have green card (not US citizen)?
Legally you can buy a house but without a credit history it is not likely that any lender will loan you money with less than a 30% down payment if at all.
You could buy with a cash purchase, but would have to prove the source of the money when you bring it into the US. So, if you sold a house in another country and used those funds to purchase in the US the government would allow such use.Can I buy house without credit history? Plus I have green card (not US citizen)?
Without a credit history, you will not get a mortgage.
You do not need credit to buy, only to borrow money.Can I buy house without credit history? Plus I have green card (not US citizen)?
Legally you can buy a house but without a credit history it is not likely that any lender will loan you money with less than a 30% down payment if at all.
You could buy with a cash purchase, but would have to prove the source of the money when you bring it into the US. So, if you sold a house in another country and used those funds to purchase in the US the government would allow such use.Can I buy house without credit history? Plus I have green card (not US citizen)?
Without a credit history, you will not get a mortgage.
Looking for a let to buy house in north wales where i can pay rent to buy the house?
This is refered to as a lease option in the US. If the laws are similar you should have no problem doing this. Make sure your paperwork is in order and this should be looked at as a Sale not a rental. You will need full contracts etc. good luck!
Breaking apartment lease to buy house?
Hello,
I have looked but couldn't find the specific answer in this Yahoo! answers section. Anyways, my question is regarding the breaking of an apartment lease. I am currently halfway through a one year apartment lease (in california).
I have no problems at all with the landlord, staff, or neighbors. My friend, who is a realtor, advised me to purchase a condo, as it would be the same monthly mortgage payment as my current apartment rent. Considering how property prices can fluctuate, and how it is so expensive here in the Bay Area, he found me several condos for an awesome price I can deal with.
So, my question is, what kind of penalties can I look forward to? I have no problems having to part with my security deposit or paying an additional month's rent, as rules are rules and again I have had no problems at all with the landlord or staff and don't want to have any bad feelings.
Thanks.Breaking apartment lease to buy house?
First off, talk this over with your landlord. You might be surprised! If rents or costs have been increasing he may be happy to let you out of your lease so that he can raise the rent for the next tenant.
But to answer your question on liability, you can be held liable for the remainder of the lease payments or until the landlord can place a suitable tenant in the unit. The landlord does have a legal obligation to make reasonable efforts to re-let the apartment to minimize your losses but does not need to take extraordinary means to do so. In most areas under mormal circumstances the courts usually hold that 2 months is adequate time to re-let the unit. Local conditions could change that either way as could any circumstances unique to the property.
For obvious reasons it's best to talk this over with your landlord first. I did the exact same thing a number of years ago and they agreed to let me out of my lease for one months rent if I provided a copy of the closing statement. With a bit of luck, your landlord will do the same.
Do keep in mind that it will probably take a month or two to close on the new place. That will get you closer to the end of your lease and minimize your exposure if worst comes to worst.
And please ignore the idiot that suggested fake military orders! That's a federal felony! You don't need that hanging over you; it'll cost you a LOT more than six month's worth of rent.Breaking apartment lease to buy house?
Lease contracts provides for stipulations for you to abide by. Pay penalties if you want to terminate the lease in order to venture with your plans.
It's best to talk it over w/the apt mgmt... They may let you out of the remainder of your lease... Here in TX, you are liable f/the entire lease and are NOT able to sub-lease...
This is the law:
If you break the lease. anything that is abandonment of the apartment (ie, move out out and/or buy a house), you are required to pay the apartments rent until ONE OF THE TWO following conditions are met:
1) The lease expire (ie, the lease is up)
2) The landlord rents out the apartment
You should look over your lease to find what penalties you will have to pay, as each lease is different. I am currently renting an apartment, and I believe that the penalty for breaking my lease is just under what I would pay for 2 months worth of rent.
My advice would be to make a decision soon, as you will pay more rent the longer you wait. I also advise you to consider waiting until your current lease runs out before you move into the condo you are looking at, so as to avoid paying any penalties.
you are liable for the duration of the lease. if you have good relations with the property manager, they can ';push'; your aparement and if you are lucky, someone could take over what's left of your lease.
but if no one wants your apartment, your stuck for the 6 months.
if theere are no vacancies now in the complex you may get lucky. if there are alot of vacancies there, you may be one of a few waiting for the same thing.
i think you need to look over a copy of your lease and see what your penalties will be...all contracts are different. I have buddies that have made fake military orders to get out of their leases, under a military clause...it could work for you.
Just talk it over with your landlord. If he agrees, you are all clear.
First off you need to read your lease--they usually have clauses for breaking them. Many have a fixed fee for breaking the lease--oftentimes equal to one or two months rent.
Second, if there is nothing in your lease, contact your landlord and work a deal. The apartment may stay vacant for at least 30 days (as they get it ready for another tenant, advertise the vacancy and set a date) or longer, so it would be typical for a landlord to ask for 1-2 months to break the lease.
Third, they cannot make you forfeit your security as that is to assure against damages to the unit...that has to be returned to you, although after you vacate they may allow you to sign a release of the security as part of breaking the lease.
Finally, it is possible that you will not be permitted to break the lease--i.e. they want the balance of the rent. You can skip out, which will result in a law suit for the rent. If this is the case, then look at your lease to see if it forbids subletting, permits subletting with landlord permission or is silent. If you can't get out of the lease, consider renting it to somebody else for the duration of your lease. Just if it requires landlord permission make sure you get it and make sure you have a security deposit and lease from the sub-lessee and insurance to protect you during the remainder of the lease.
Lawyer here.
Check your lease. It should be all spelled out there. Typically, you will owe every month leased, plus forfeit your security deposit. Sometimes, there's a provision that you can sublet or that if they rent the place, you don't have to pay. No matter how nice the landlord and staff are, expect them to be hardcore to the letter on the lease.
If you can sublet. We were having the same problem earlier this year. It would put a hit on your credit if you just back out, but then again you will have been approved and moved into a place you have purchased and you can pay off the debt. There is usually a severe penalty with complex's if you got in on a special they usually charge you the extra ';market value'; for the whole 12 months. Subletting is your best option if your complex will allow it.
okay did you pay first last months rents there? okay 2 you say you get along great with your curent landlord and staff thats because there making money off from you right now threw your rents etc, anyways the minute you tell the landlord your packing bags and moving out everything changess in any good tenant, landlord type thing. okay you say you dont care about losing your security depositt, okay this is the forst time i have ever heard anyone ever say this in my entire life here very strange hanbding them mopney for nothing okay i but that i guess.okay you found a nice condo congralautions so have ypu made a purchase offer yet on this condo yet??n okay lets go back too your apartment leasse here okay you only have about 6 months too go on your lease now right?? so the big question is when exactly are you gpoing ttt pack and move into this condo got it yet benn finalizeed?/ if you only got 6 months too go why dont you sublet your old apartment here?? just too get back a portion of your , first and last months rents, and security depositt?? i think, yiou should explore your options here about subleting the rest of your lease here to one of your friends etc, as, i dont know of any landlord that would hate too lose a god tenant(like you bye the sounds of it) anyways the peaalities here are if you leave you lose your security, i think they may now including klleaning , feess, and first last months rents, and probably your key depositt etc if any. when you movec inn diod you consent too a credit checvk with your currenmt landlord?? i have a felling this landlord is goona get rotten when you tel him your moving out here, with only 6 months too go here on a one years lease, i would stick it out, finish the lease then gradually move into this condo etc
you are liable to complete you lease. if you break the lease you can be sued for the remainder of the lease. try to talk to the landlord you may be able to work something out. don't go telling him you got a new place, tell him/her your job is making you move to another state or something. who cares if he sees you later, just tell him/her that it didn't work out with your job or something.
You may be responsible for the rent for the remainder of your lease. You really need to check your contract, it should tell you what the penalty for breaking the lease is. Sometimes if you talk to the landlord and they can get someone else in there so they are not loosing money they will let you off the hook. Good Luck%26gt;
Since you're on good terms with the landlord, talk it out with him/her. Explain the situation - you had a great opportunity to buy a home and did so. Maybe if you ask if you can work something out, so neither one of you is out a lot of money, he'll be agreeing. Perhaps if you agree to show the apartment (have people call you for appt times) for him and accept all the applications, etc. and have the apartment ready for the next tenant to move in (painted and professionally cleaned), he'll be happy. I can't imagine if you offered all of this that he'd still try to enforce your lease. Legally, he has every right to though, so if he decides to be a hard head about this, you won't have much of a leg to stand on in court. Be super nice, calm, and offer whatever you can so you'll both be happy.
Good luck and CONGRATULATIONS on your first home!!! Very cool!
loss of deposit and one/two months rent will probably be all, unless you have done any damages to the property, you may have to pay for those too. The renter will probably be fine with you breaking the lease, theres always someone else looking to rent
if u pay all the penalties u should be fine just make sure u pay if u use that apartment as a reference that would be bad they do pass info
just talk to your landlord and come to a conclusion. your landlord might let you off the hook and you don't have to worry about the lease.
With the lease you are in a binding contract. As another person said you could be liable for the remaining six months.
You can probably sit down with the landlord and come to a resonable solution. I would bring a third party and make sure the agreement is in writing signed by both you and the landlord. I would highly suggest taking the agreement and getting it notorized. Make two copies of the agreement and take it to a notory. Most banks have a notory on hand. You will both sign both agreements. The notory will sign and add the seal. This way you both had a witness. You do not want it to be a verbal because the landlord could easily try to renig on the offer.
You are liable for 6-month's rent, but that's only if you're Landlord doesn't Lease it.Best thing to do is tell your Landlord that you have found some properties and you considering Buying. He won't be tickled, esp. if you have been paying on time. Let your landlord know that you will do everything in your power to assist him in finding him another tenant, like having your unit clean and ready for him to show to prospects. If you or your Landlord can find an acceptable tenant in the interim, then you're off the hook. What you don't need right now is a glitch on your credit report. You won't regret buying!
If you're on good terms with the landlord, you might be able to work out an agreement.
A common one is that the landlord would only charge you for the time s/he wasn't able to find a tenant for the apartment.
You may be on the hook for the remaining six moinths, unless you sublet.
Speak with all those involved to see if you can come to a mutual conclusion
Speak to the landlord as quickly as possible. Even though you are legally responsible for rent until the end of the lease (another 6 months) if he can find someone to move in, which is likely, he will have no losses and may be willing to let you break the lease. But the sooner he knows, the sooner he can find someone.
I know a person who did that in cal and he got sue ,talk to a lawyer
Well your not really aloud too but if the house is by the apartment owner then yes, But if not you can work it out with you landlord.
Sometimes landlords will let you out of the lease under these kind of circumstances, and will require (generally) a 30 day notice, and a month's rent. If you leave your apartment clean, they may give you back your security deposit, but they could keep it. The best thing to do is talk to your landlord, and explain your situation and see what their reaction is. Good Luck to you.
the worst they can do is keep your secrity depo an your last months rent but id talk it over with them first an see if they will let u out of the contract
They can require you to pay the entire lease, but many places will be nice and only charge you until they find a new tenant. Do you know anyone who might want your apartment? Perhaps if you can suggest a tenant to them, it would make things that much easier.
I have looked but couldn't find the specific answer in this Yahoo! answers section. Anyways, my question is regarding the breaking of an apartment lease. I am currently halfway through a one year apartment lease (in california).
I have no problems at all with the landlord, staff, or neighbors. My friend, who is a realtor, advised me to purchase a condo, as it would be the same monthly mortgage payment as my current apartment rent. Considering how property prices can fluctuate, and how it is so expensive here in the Bay Area, he found me several condos for an awesome price I can deal with.
So, my question is, what kind of penalties can I look forward to? I have no problems having to part with my security deposit or paying an additional month's rent, as rules are rules and again I have had no problems at all with the landlord or staff and don't want to have any bad feelings.
Thanks.Breaking apartment lease to buy house?
First off, talk this over with your landlord. You might be surprised! If rents or costs have been increasing he may be happy to let you out of your lease so that he can raise the rent for the next tenant.
But to answer your question on liability, you can be held liable for the remainder of the lease payments or until the landlord can place a suitable tenant in the unit. The landlord does have a legal obligation to make reasonable efforts to re-let the apartment to minimize your losses but does not need to take extraordinary means to do so. In most areas under mormal circumstances the courts usually hold that 2 months is adequate time to re-let the unit. Local conditions could change that either way as could any circumstances unique to the property.
For obvious reasons it's best to talk this over with your landlord first. I did the exact same thing a number of years ago and they agreed to let me out of my lease for one months rent if I provided a copy of the closing statement. With a bit of luck, your landlord will do the same.
Do keep in mind that it will probably take a month or two to close on the new place. That will get you closer to the end of your lease and minimize your exposure if worst comes to worst.
And please ignore the idiot that suggested fake military orders! That's a federal felony! You don't need that hanging over you; it'll cost you a LOT more than six month's worth of rent.Breaking apartment lease to buy house?
Lease contracts provides for stipulations for you to abide by. Pay penalties if you want to terminate the lease in order to venture with your plans.
It's best to talk it over w/the apt mgmt... They may let you out of the remainder of your lease... Here in TX, you are liable f/the entire lease and are NOT able to sub-lease...
This is the law:
If you break the lease. anything that is abandonment of the apartment (ie, move out out and/or buy a house), you are required to pay the apartments rent until ONE OF THE TWO following conditions are met:
1) The lease expire (ie, the lease is up)
2) The landlord rents out the apartment
You should look over your lease to find what penalties you will have to pay, as each lease is different. I am currently renting an apartment, and I believe that the penalty for breaking my lease is just under what I would pay for 2 months worth of rent.
My advice would be to make a decision soon, as you will pay more rent the longer you wait. I also advise you to consider waiting until your current lease runs out before you move into the condo you are looking at, so as to avoid paying any penalties.
you are liable for the duration of the lease. if you have good relations with the property manager, they can ';push'; your aparement and if you are lucky, someone could take over what's left of your lease.
but if no one wants your apartment, your stuck for the 6 months.
if theere are no vacancies now in the complex you may get lucky. if there are alot of vacancies there, you may be one of a few waiting for the same thing.
i think you need to look over a copy of your lease and see what your penalties will be...all contracts are different. I have buddies that have made fake military orders to get out of their leases, under a military clause...it could work for you.
Just talk it over with your landlord. If he agrees, you are all clear.
First off you need to read your lease--they usually have clauses for breaking them. Many have a fixed fee for breaking the lease--oftentimes equal to one or two months rent.
Second, if there is nothing in your lease, contact your landlord and work a deal. The apartment may stay vacant for at least 30 days (as they get it ready for another tenant, advertise the vacancy and set a date) or longer, so it would be typical for a landlord to ask for 1-2 months to break the lease.
Third, they cannot make you forfeit your security as that is to assure against damages to the unit...that has to be returned to you, although after you vacate they may allow you to sign a release of the security as part of breaking the lease.
Finally, it is possible that you will not be permitted to break the lease--i.e. they want the balance of the rent. You can skip out, which will result in a law suit for the rent. If this is the case, then look at your lease to see if it forbids subletting, permits subletting with landlord permission or is silent. If you can't get out of the lease, consider renting it to somebody else for the duration of your lease. Just if it requires landlord permission make sure you get it and make sure you have a security deposit and lease from the sub-lessee and insurance to protect you during the remainder of the lease.
Lawyer here.
Check your lease. It should be all spelled out there. Typically, you will owe every month leased, plus forfeit your security deposit. Sometimes, there's a provision that you can sublet or that if they rent the place, you don't have to pay. No matter how nice the landlord and staff are, expect them to be hardcore to the letter on the lease.
If you can sublet. We were having the same problem earlier this year. It would put a hit on your credit if you just back out, but then again you will have been approved and moved into a place you have purchased and you can pay off the debt. There is usually a severe penalty with complex's if you got in on a special they usually charge you the extra ';market value'; for the whole 12 months. Subletting is your best option if your complex will allow it.
okay did you pay first last months rents there? okay 2 you say you get along great with your curent landlord and staff thats because there making money off from you right now threw your rents etc, anyways the minute you tell the landlord your packing bags and moving out everything changess in any good tenant, landlord type thing. okay you say you dont care about losing your security depositt, okay this is the forst time i have ever heard anyone ever say this in my entire life here very strange hanbding them mopney for nothing okay i but that i guess.okay you found a nice condo congralautions so have ypu made a purchase offer yet on this condo yet??n okay lets go back too your apartment leasse here okay you only have about 6 months too go on your lease now right?? so the big question is when exactly are you gpoing ttt pack and move into this condo got it yet benn finalizeed?/ if you only got 6 months too go why dont you sublet your old apartment here?? just too get back a portion of your , first and last months rents, and security depositt?? i think, yiou should explore your options here about subleting the rest of your lease here to one of your friends etc, as, i dont know of any landlord that would hate too lose a god tenant(like you bye the sounds of it) anyways the peaalities here are if you leave you lose your security, i think they may now including klleaning , feess, and first last months rents, and probably your key depositt etc if any. when you movec inn diod you consent too a credit checvk with your currenmt landlord?? i have a felling this landlord is goona get rotten when you tel him your moving out here, with only 6 months too go here on a one years lease, i would stick it out, finish the lease then gradually move into this condo etc
you are liable to complete you lease. if you break the lease you can be sued for the remainder of the lease. try to talk to the landlord you may be able to work something out. don't go telling him you got a new place, tell him/her your job is making you move to another state or something. who cares if he sees you later, just tell him/her that it didn't work out with your job or something.
You may be responsible for the rent for the remainder of your lease. You really need to check your contract, it should tell you what the penalty for breaking the lease is. Sometimes if you talk to the landlord and they can get someone else in there so they are not loosing money they will let you off the hook. Good Luck%26gt;
Since you're on good terms with the landlord, talk it out with him/her. Explain the situation - you had a great opportunity to buy a home and did so. Maybe if you ask if you can work something out, so neither one of you is out a lot of money, he'll be agreeing. Perhaps if you agree to show the apartment (have people call you for appt times) for him and accept all the applications, etc. and have the apartment ready for the next tenant to move in (painted and professionally cleaned), he'll be happy. I can't imagine if you offered all of this that he'd still try to enforce your lease. Legally, he has every right to though, so if he decides to be a hard head about this, you won't have much of a leg to stand on in court. Be super nice, calm, and offer whatever you can so you'll both be happy.
Good luck and CONGRATULATIONS on your first home!!! Very cool!
loss of deposit and one/two months rent will probably be all, unless you have done any damages to the property, you may have to pay for those too. The renter will probably be fine with you breaking the lease, theres always someone else looking to rent
if u pay all the penalties u should be fine just make sure u pay if u use that apartment as a reference that would be bad they do pass info
just talk to your landlord and come to a conclusion. your landlord might let you off the hook and you don't have to worry about the lease.
With the lease you are in a binding contract. As another person said you could be liable for the remaining six months.
You can probably sit down with the landlord and come to a resonable solution. I would bring a third party and make sure the agreement is in writing signed by both you and the landlord. I would highly suggest taking the agreement and getting it notorized. Make two copies of the agreement and take it to a notory. Most banks have a notory on hand. You will both sign both agreements. The notory will sign and add the seal. This way you both had a witness. You do not want it to be a verbal because the landlord could easily try to renig on the offer.
You are liable for 6-month's rent, but that's only if you're Landlord doesn't Lease it.Best thing to do is tell your Landlord that you have found some properties and you considering Buying. He won't be tickled, esp. if you have been paying on time. Let your landlord know that you will do everything in your power to assist him in finding him another tenant, like having your unit clean and ready for him to show to prospects. If you or your Landlord can find an acceptable tenant in the interim, then you're off the hook. What you don't need right now is a glitch on your credit report. You won't regret buying!
If you're on good terms with the landlord, you might be able to work out an agreement.
A common one is that the landlord would only charge you for the time s/he wasn't able to find a tenant for the apartment.
You may be on the hook for the remaining six moinths, unless you sublet.
Speak with all those involved to see if you can come to a mutual conclusion
Speak to the landlord as quickly as possible. Even though you are legally responsible for rent until the end of the lease (another 6 months) if he can find someone to move in, which is likely, he will have no losses and may be willing to let you break the lease. But the sooner he knows, the sooner he can find someone.
I know a person who did that in cal and he got sue ,talk to a lawyer
Well your not really aloud too but if the house is by the apartment owner then yes, But if not you can work it out with you landlord.
Sometimes landlords will let you out of the lease under these kind of circumstances, and will require (generally) a 30 day notice, and a month's rent. If you leave your apartment clean, they may give you back your security deposit, but they could keep it. The best thing to do is talk to your landlord, and explain your situation and see what their reaction is. Good Luck to you.
the worst they can do is keep your secrity depo an your last months rent but id talk it over with them first an see if they will let u out of the contract
They can require you to pay the entire lease, but many places will be nice and only charge you until they find a new tenant. Do you know anyone who might want your apartment? Perhaps if you can suggest a tenant to them, it would make things that much easier.
Do i still gain money if buy house in California ?
Yes.. if you buy a house in Ca, then you will at some point make money- that market will never drop!!
How write a gift letter for funds use to buy house?
Include Applicant's name, loan number, and address of home to be purchased if known, otherwise you a tbd address. Then it should look something like this:
I,____________(Doner), do hereby certify the following:
(1) I have made a gift of $_____(amount) to __________(recipient) Whose relationship is:_________(relationship)
(2) This gift is to be applied toward the purchase of the property located at:___________________(property address)
(3) No repayment of the gift is expected or implied in the form of cash or by future services of the recipient.
(4) The funds given to the homebuyer were not made available to the donor from any person or entity with an interest in the sale of the property including hte seller, real estate agent or broker, builder, loan officer, or any entity associated with them.
(5) The source of this gift is:____________(source)
Include
Donor signiture and date
Donor name printed
donor address
donor phone number
Borrower signiture and date
Co-Borrower signiture and date
Include a disclosure stating that the signatures above indicate that we fully understand that it is a Federal Crime punishable by fine, imprisonment, or both knowingly make any false statement concerning any of hte above facts as applicable under the provision of Title 18, United States Code, Section 1012 adnd 1014
Include evidence of Donor's ability to provide funds and evidence of receipt of transfer of funds with this letterHow write a gift letter for funds use to buy house?
I've recently done this. Ask your mortgage company for a gift letter form, and they will supply you with one. Fill it out and give back to the rep.How write a gift letter for funds use to buy house?
i you need help with a loan please call me 18667118195-106
texas only
first learn to write a question properly.
I,____________(Doner), do hereby certify the following:
(1) I have made a gift of $_____(amount) to __________(recipient) Whose relationship is:_________(relationship)
(2) This gift is to be applied toward the purchase of the property located at:___________________(property address)
(3) No repayment of the gift is expected or implied in the form of cash or by future services of the recipient.
(4) The funds given to the homebuyer were not made available to the donor from any person or entity with an interest in the sale of the property including hte seller, real estate agent or broker, builder, loan officer, or any entity associated with them.
(5) The source of this gift is:____________(source)
Include
Donor signiture and date
Donor name printed
donor address
donor phone number
Borrower signiture and date
Co-Borrower signiture and date
Include a disclosure stating that the signatures above indicate that we fully understand that it is a Federal Crime punishable by fine, imprisonment, or both knowingly make any false statement concerning any of hte above facts as applicable under the provision of Title 18, United States Code, Section 1012 adnd 1014
Include evidence of Donor's ability to provide funds and evidence of receipt of transfer of funds with this letterHow write a gift letter for funds use to buy house?
I've recently done this. Ask your mortgage company for a gift letter form, and they will supply you with one. Fill it out and give back to the rep.How write a gift letter for funds use to buy house?
i you need help with a loan please call me 18667118195-106
texas only
first learn to write a question properly.
Should I buy House seasons separately or in a collection?
I want to get seasons 1 through 5 but I'm not sure which way to go.
Also, how soon could we see a ';House Seasons 1-6 Collection'; on the store shelves? If it's not too long, I could wait it out, but since the season is just starting, it may be a while...Should I buy House seasons separately or in a collection?
In a collection defiantly, they are usually cheaper when you consider the price of each individual season.Should I buy House seasons separately or in a collection?
Collection will be a much better idea as the quality will be equally better
Not until next August ish. I bought 1-4 when Target did a 2 for 40 deal. You can always watch them online at
http://housemdepisodes.com
Also, how soon could we see a ';House Seasons 1-6 Collection'; on the store shelves? If it's not too long, I could wait it out, but since the season is just starting, it may be a while...Should I buy House seasons separately or in a collection?
In a collection defiantly, they are usually cheaper when you consider the price of each individual season.Should I buy House seasons separately or in a collection?
Collection will be a much better idea as the quality will be equally better
Not until next August ish. I bought 1-4 when Target did a 2 for 40 deal. You can always watch them online at
http://housemdepisodes.com
If i plan to buy house this year can i get the tax credit before i purchase the house?
no.If i plan to buy house this year can i get the tax credit before i purchase the house?
Generally no, but if you live in MO, maybe. The state of MO is offering short term loans equal to the credit that you are eligible for. This allows you to be able to use the funds for closing on the property only, i.e. for down payment or closing costs or for renovations as stated in the purchase and sale agreement. Any MO Realtor can assist you with the program. Other states may offer a similar program so check with a local Realtor.If i plan to buy house this year can i get the tax credit before i purchase the house?
No. It is a reward for actually buying. You must close escrow by Nov 30
Generally no, but if you live in MO, maybe. The state of MO is offering short term loans equal to the credit that you are eligible for. This allows you to be able to use the funds for closing on the property only, i.e. for down payment or closing costs or for renovations as stated in the purchase and sale agreement. Any MO Realtor can assist you with the program. Other states may offer a similar program so check with a local Realtor.If i plan to buy house this year can i get the tax credit before i purchase the house?
No. It is a reward for actually buying. You must close escrow by Nov 30
Is it the right time to buy house in bangalore ? market situation ?
Bangalore real estate. Saturated now. Will decline in quite some time.
Are you from out of state. Just for investing. Wait and watch.Is it the right time to buy house in bangalore ? market situation ?
no not at all pls wait for sometime bcoz rit now houses r costly in banglore n experts r saying prices wud b less after 6 months.
Are you from out of state. Just for investing. Wait and watch.Is it the right time to buy house in bangalore ? market situation ?
no not at all pls wait for sometime bcoz rit now houses r costly in banglore n experts r saying prices wud b less after 6 months.
I have heard that the goverment will help people who buy house whithin Apr 08-Jan 09 $7500. Is this true?
IF this is true, please help me how to start and where to contact? Thanks a lot!!!!I have heard that the goverment will help people who buy house whithin Apr 08-Jan 09 $7500. Is this true?
It's a zero-interest tax credit that must be repaid over time, but it could help a new, first-time homebuyer get his/her feet under him/her.
It's only for first-time buyers. I have heard conflicting reports about wage limitations (i.e. it might only be available to those with a combined annual income below a certain level 鈥?I've heard $75,000) being added to this program, as well.I have heard that the goverment will help people who buy house whithin Apr 08-Jan 09 $7500. Is this true?
The $7500 tax credit in that bill is not really free money. It is an interest free loan that you have to pay back over 15 years, or when you sell the property. So it just gives you a break until your interest and property tax deductions kick in to help pay it back.
This is true. However, the help will come as a tax break. You need to find a lender who does FHA mortgages. Most big banks (B of A, Wells Fargo) they do FHA loans. Try and go with a reputable bank instead of a mortgage broker.
Here's a link from CNN to read up on. Its the new law for people about to go into foreclosure, however new 1st time homebuyers can also benefit.
http://money.cnn.com/2008/07/30/news/eco鈥?/a>
wrong and don't be fooled by these scams!
First time buyers can generally receive a grant as a first time home buyer. This $7500 thing is a tax rebate that you should receive when you file your '08 taxes. That is what I have heard anyway!
It's a zero-interest tax credit that must be repaid over time, but it could help a new, first-time homebuyer get his/her feet under him/her.
It's only for first-time buyers. I have heard conflicting reports about wage limitations (i.e. it might only be available to those with a combined annual income below a certain level 鈥?I've heard $75,000) being added to this program, as well.I have heard that the goverment will help people who buy house whithin Apr 08-Jan 09 $7500. Is this true?
The $7500 tax credit in that bill is not really free money. It is an interest free loan that you have to pay back over 15 years, or when you sell the property. So it just gives you a break until your interest and property tax deductions kick in to help pay it back.
This is true. However, the help will come as a tax break. You need to find a lender who does FHA mortgages. Most big banks (B of A, Wells Fargo) they do FHA loans. Try and go with a reputable bank instead of a mortgage broker.
Here's a link from CNN to read up on. Its the new law for people about to go into foreclosure, however new 1st time homebuyers can also benefit.
http://money.cnn.com/2008/07/30/news/eco鈥?/a>
wrong and don't be fooled by these scams!
First time buyers can generally receive a grant as a first time home buyer. This $7500 thing is a tax rebate that you should receive when you file your '08 taxes. That is what I have heard anyway!
How 2 buy house with no downpayment. and i makes over 40,000/year?
im renting for 700/month. how can i not get a house. but, i don't have a downpayment. can you get a house without it ?How 2 buy house with no downpayment. and i makes over 40,000/year?
you should save 10% for a downpayment and have an emergency fund of 6 months before you buy a home this is the reason our country is in such bad shape because too many people got into homes when they werent ready and disciplined enough to look ahead a little waysHow 2 buy house with no downpayment. and i makes over 40,000/year?
During this time of recession your chance of buying a house with no downpayment are slim to none. But, consider yourself lucky that you didn't get caught up in the adjustable rate mortgages. Owning has more responsibility than renting. Even if you buy a house what you pay during a 30 day mortgage because of interest it is doubtful you will recover what you paid initially. In addition to the house payment you will pay taxes and pay for your own repairs. Both ownership or renting have their advantages. Good luck.
Unfortunately the days of 0 down are long gone.
When Bill Clinton pointed his finger and said
';I want every american to own a home';, de regulation started
First thing was company called Quicken loans came out with 0 down interest only loans.
The mortgage markets went nuts with the freedom to loan to anyone at any price.
Now we are coming full circle again - back to normal.
If you are first time home buyer, you can be approved for an FHA loan.
You will neeed 4% down as of today.
/
If your credit is excellent and you have verifiable income, there are products available (March 2009)
The way these products work is that you would be forwarded the 5% down-payment with the rest of the mortgage, on closing.That 5% would be part of your total mortgage, which you would pay back over time.
The one that I've seen is for a 5 year term at an interest rate significantly above the standard lending rate. I can imagine there is also a significant penalty for switching the mortgage to someone else. This product is most likely with a private lender - I don't think the banks would be interested, no matter how profitable the arrangement.
Definitely not for everyone, as you are locked in with a higher than normal interest rate, but if it gets you into a home and not paying rent anymore it may be worth it. Especially with all the deals on real estate currently out there.
For more information contact http://chrisandterra.ca
If you are a first time home buyer with decent credit i believe that you can.
There are just a few lenders that offer out 100% financing loans. The rate is a little bit higher. Depending on your situation it might not be worth the extra costs to go about it this way. You can also get cash back mortgages. This is where you come up with 5% for a down payment and then when you close at the lawyers you get up to 4% back. There are a few lenders that are heavily advertising it right now.
TD Canada Trust and CIBC are the most common.
Talking to a Mortgage broker is always the best way to shop for the lowest rates.
www.mortgagebrokerrate.com
Unless you are a veteran and can access a VA loan, there are no zero-down payment mortgages anymore. The best you can do is shoot for an FHA loan which requires 3 to 3.5% down. You will probably also have to pay closing costs (figure another 3 to 5 percent of the sale price).
you should save 10% for a downpayment and have an emergency fund of 6 months before you buy a home this is the reason our country is in such bad shape because too many people got into homes when they werent ready and disciplined enough to look ahead a little waysHow 2 buy house with no downpayment. and i makes over 40,000/year?
During this time of recession your chance of buying a house with no downpayment are slim to none. But, consider yourself lucky that you didn't get caught up in the adjustable rate mortgages. Owning has more responsibility than renting. Even if you buy a house what you pay during a 30 day mortgage because of interest it is doubtful you will recover what you paid initially. In addition to the house payment you will pay taxes and pay for your own repairs. Both ownership or renting have their advantages. Good luck.
Unfortunately the days of 0 down are long gone.
When Bill Clinton pointed his finger and said
';I want every american to own a home';, de regulation started
First thing was company called Quicken loans came out with 0 down interest only loans.
The mortgage markets went nuts with the freedom to loan to anyone at any price.
Now we are coming full circle again - back to normal.
If you are first time home buyer, you can be approved for an FHA loan.
You will neeed 4% down as of today.
/
If your credit is excellent and you have verifiable income, there are products available (March 2009)
The way these products work is that you would be forwarded the 5% down-payment with the rest of the mortgage, on closing.That 5% would be part of your total mortgage, which you would pay back over time.
The one that I've seen is for a 5 year term at an interest rate significantly above the standard lending rate. I can imagine there is also a significant penalty for switching the mortgage to someone else. This product is most likely with a private lender - I don't think the banks would be interested, no matter how profitable the arrangement.
Definitely not for everyone, as you are locked in with a higher than normal interest rate, but if it gets you into a home and not paying rent anymore it may be worth it. Especially with all the deals on real estate currently out there.
For more information contact http://chrisandterra.ca
If you are a first time home buyer with decent credit i believe that you can.
There are just a few lenders that offer out 100% financing loans. The rate is a little bit higher. Depending on your situation it might not be worth the extra costs to go about it this way. You can also get cash back mortgages. This is where you come up with 5% for a down payment and then when you close at the lawyers you get up to 4% back. There are a few lenders that are heavily advertising it right now.
TD Canada Trust and CIBC are the most common.
Talking to a Mortgage broker is always the best way to shop for the lowest rates.
www.mortgagebrokerrate.com
Unless you are a veteran and can access a VA loan, there are no zero-down payment mortgages anymore. The best you can do is shoot for an FHA loan which requires 3 to 3.5% down. You will probably also have to pay closing costs (figure another 3 to 5 percent of the sale price).
Why people buy house they can't afford?
Buying a high price house
and getting some mortgage loans...
paying mortgage company twice as much...
There are many cheaper houses that are prettier.Why people buy house they can't afford?
ego and stupidityWhy people buy house they can't afford?
some people like to have a big house to show it off to say look at me and this nice house even if they dont have the money they still want to look good
PREDATORY LENDERS are finding ways for them to get the loans.
Yeah they are silly with that if you know of any cheap house add me to your contact then answer my question called homes for sale.
Thanks
and getting some mortgage loans...
paying mortgage company twice as much...
There are many cheaper houses that are prettier.Why people buy house they can't afford?
ego and stupidityWhy people buy house they can't afford?
some people like to have a big house to show it off to say look at me and this nice house even if they dont have the money they still want to look good
PREDATORY LENDERS are finding ways for them to get the loans.
Yeah they are silly with that if you know of any cheap house add me to your contact then answer my question called homes for sale.
Thanks
How can a foreigner buy house in the united states?
usually the bank won't loan you the money if you're a foreigner. but you can buy houses in full cash.How can a foreigner buy house in the united states?
I just sold 4 condos to foreign buyers who are required by lenders to put down 20% of the sales price. Contact me at rainierzzz@yahoo.com if you're interested in purchasing properties here in the United States especially Florida. I am a Licensed Realtor and have lenders who can help you.
How can a foreigner buy house in the united states?
What about if you are working in the U.S but are not a permanent resident ?
as long as you have a valid stamp to stay in USloan
I just sold 4 condos to foreign buyers who are required by lenders to put down 20% of the sales price. Contact me at rainierzzz@yahoo.com if you're interested in purchasing properties here in the United States especially Florida. I am a Licensed Realtor and have lenders who can help you.
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How can a foreigner buy house in the united states?
What about if you are working in the U.S but are not a permanent resident ?
Report Abuse
as long as you have a valid stamp to stay in US
How do u go about getting a usda loan to buy house?
Best bet is to check the website. There is a link for ';where to apply';.
http://www.rurdev.usda.gov/
http://www.rurdev.usda.gov/
I need to know if theres any actual store to buy house md shirts?
probably not but you can use this link to buy the shirt online:
http://www.nbcuniversalstore.com/index.php?v=usa_house_apparel%26amp;view=list
http://www.nbcuniversalstore.com/index.php?v=usa_house_apparel%26amp;view=list
How should i buy house from bank&which bank,newyork,queens?
well I am not sure what the question is. If you want to buy a bank owned home you can just ask at the branch you bank in. They should have the name of the person who handles bank owned properties. Not all banks do motgages. Lend America out of melville NY is a Mortgage banker in your area. If you call their main number and tell them you would like to get a list of properties they have forsale I am sure the operator can direct you. Many banks just contact a local realestate company but any bank you call in NY I am sure could direct you.
Buy House in Biloxi, or in the Midwest United States (provincial town) for $ 3000-5000. This is the real price?
More likely a rental. Can you supply a link?
Non-Married couple wanting to buy house, but must use one individual for better rate - protect investment?
My boyfriend and I are buying our first house.; I have a 600 credit score and he has an 800 credit score. How do I protect my investment in the house when I can't put my name on the loan because it will cause our payments to be higher? We plan on getting married in one year. An inexpensive conclusion? A quitdeed? Something that says I am half owner and Half payer?Non-Married couple wanting to buy house, but must use one individual for better rate - protect investment?
It is easy and it is done all the time. While only one name is on the promissory note, both names are on the mortgage and the title. Talk to the mortgage broker for the details, but it is a very common practice. Once you are married the whole issue will be moot since all assets and debts become shared at that point. (no need for a quitclaim deed until the divorce ...)Non-Married couple wanting to buy house, but must use one individual for better rate - protect investment?
You and your boyfriend would have to draft a binding legal agreement specifying that you will ALWAYS have half the equity in the home at any time. This is a pre-nupital agreement. If you two have a good relationship, drafting one should not be difficult. If either of you starts to hesitate, maybe you need to rethink buying this house and the entire marriage.
I've seen unmarried couples like yourselves purchase a house together only to see the police a few months later. A squatter associate of the girlfriend almost burned down the house and the entire block a few months later.
PS: Stay away from people who claim they are ';legitimate'; mortgage brokers and advertise in this forum. In this forum, there is ZERO difference between legitimate mortgage brokers and spammers and advertisers. There are other forums, besides this one, where customer and mortgage broker can freely interact.
Above Poster got it right ..make sure when you buy the home, your name is on Title .. Don't let anyone fool you into having just your boyfriend on title by himself. Trust me, save you stressful moment if ever you decide to split up .. (from Experince with people I know)
The loan can be in your boyfriends name but you can be on title to the property which means you have a vested interest in the property. All you have to do is tell your lender you want to be placed on title. Your name will have to be placed on the purchase contract and you will have to sign it as well. With his credit score in the upper 700's I'm assuming he is getting a Fannie Mae or Freddie Mac loan, either one of these type of loans will be OK with you being placed on title. Also in the closing packing that your boyfriend will be signing at closing there should be a document in there called ';Security interest in the property other than the Borrower'; This would be you, you need to sign it.. Hope this helps you out.
That is a question I was faced with myself earlier this year when I bought a house with my fiance and he had the better credit score. What you can do is have your name put on the deed. Its simple to do and will protect your interest in the property. If you need help you can send me an email. I'm a loan officer based in PA but licensed in many other states. And as for Bob's remark about not trusting people on here. It is true, you do have to watch out who you give your information to online. But some of us, like myself, are legitimate loan officers just looking to help some people out. Beware of people who immediately ask for your social security number. Those people are just looking to rip you off. Before you choose what loan officer to use, make them work for the loan. At some point your social security number will be needed to pull credit. But it should not be the first question you get asked. I hope this helps you and if you have any questions don't hesitate to e-mail me.
you can still buy the house and have both of your names on the house. they will go by the person who has the higher credit score. there are many lenders that do it. send me an email i can help you.
you can be on title if you'd like..just let your mortgage broker know ahead of time..
It is easy and it is done all the time. While only one name is on the promissory note, both names are on the mortgage and the title. Talk to the mortgage broker for the details, but it is a very common practice. Once you are married the whole issue will be moot since all assets and debts become shared at that point. (no need for a quitclaim deed until the divorce ...)Non-Married couple wanting to buy house, but must use one individual for better rate - protect investment?
You and your boyfriend would have to draft a binding legal agreement specifying that you will ALWAYS have half the equity in the home at any time. This is a pre-nupital agreement. If you two have a good relationship, drafting one should not be difficult. If either of you starts to hesitate, maybe you need to rethink buying this house and the entire marriage.
I've seen unmarried couples like yourselves purchase a house together only to see the police a few months later. A squatter associate of the girlfriend almost burned down the house and the entire block a few months later.
PS: Stay away from people who claim they are ';legitimate'; mortgage brokers and advertise in this forum. In this forum, there is ZERO difference between legitimate mortgage brokers and spammers and advertisers. There are other forums, besides this one, where customer and mortgage broker can freely interact.
Above Poster got it right ..make sure when you buy the home, your name is on Title .. Don't let anyone fool you into having just your boyfriend on title by himself. Trust me, save you stressful moment if ever you decide to split up .. (from Experince with people I know)
The loan can be in your boyfriends name but you can be on title to the property which means you have a vested interest in the property. All you have to do is tell your lender you want to be placed on title. Your name will have to be placed on the purchase contract and you will have to sign it as well. With his credit score in the upper 700's I'm assuming he is getting a Fannie Mae or Freddie Mac loan, either one of these type of loans will be OK with you being placed on title. Also in the closing packing that your boyfriend will be signing at closing there should be a document in there called ';Security interest in the property other than the Borrower'; This would be you, you need to sign it.. Hope this helps you out.
That is a question I was faced with myself earlier this year when I bought a house with my fiance and he had the better credit score. What you can do is have your name put on the deed. Its simple to do and will protect your interest in the property. If you need help you can send me an email. I'm a loan officer based in PA but licensed in many other states. And as for Bob's remark about not trusting people on here. It is true, you do have to watch out who you give your information to online. But some of us, like myself, are legitimate loan officers just looking to help some people out. Beware of people who immediately ask for your social security number. Those people are just looking to rip you off. Before you choose what loan officer to use, make them work for the loan. At some point your social security number will be needed to pull credit. But it should not be the first question you get asked. I hope this helps you and if you have any questions don't hesitate to e-mail me.
you can still buy the house and have both of your names on the house. they will go by the person who has the higher credit score. there are many lenders that do it. send me an email i can help you.
you can be on title if you'd like..just let your mortgage broker know ahead of time..
Should I buy house of flat?
I've been renting a flat in London for 3 years and now want to get on the property ladder. I'm looking on a budget of 150k and concerned about whether a house of flat would suit it best.
Now I live in zone 3 and commute to zone 1 to work. Having that budget size, I'm prepared to move further to find somewhere liveable with that budget. However I don't know whether I should spend it on a house further away (zone 6) or flat in renovation areas. As for a house, how could I be sure of the quality which could go down and cost me maintenance and repairs year after year? If I go for a flat, is renovation area good investment, i.e. prices could go up better than houses in remote districts?
Thanks a lot for your advice.Should I buy house of flat?
It basically depends on what is right for your personal circumstances. If you are a couple and are planning to have children, then you'll want a garden etc and hence would need a house.
A house does require more individual maintenance than a flat - however, with a flat; you have to contribute to the upkeep of the whole building and communal areas - and this is paid through what is known as a ';service charge';. In addition, most flats are leasehold - which means you don't own them outright. You merely buy the right to live in the flat for x period of time (where x is equal to the number of years remaining on the lease). You normally pay ground rent to the landlord as well as a service charge. Both these charges vary depending on the property itself. In my area, ground rent + service charge vary from 拢50 per month to over 拢100 per month.Should I buy house of flat?
I'd buy a freehold 1-2 bed flat. Your looking at about 160-200K for Zone 3-4. If you've got a high flying city job, your laughing.
I would go for a house. Flats are leasehold and there has been quite a lot in the press recently about owners having to pay out small fortunes on general upkeep of buildings.
Really research your areas, check out the Location Location website for tips on how to find out where is up and coming etc;
You will have maintenance and repairs with any property, possibly more with an old house but if you make sure you get a good structural survey done before completing you should be pretty safe.
See your local estate agent he/she will advise on current trends in the area you are wanting to rent.
If you are alone I suggest flat nearer London for now. They are always easy to sell and later you can get a bigger mortgage and then go for a house.
Good luck whatever you choose.
I would go for a house and not a flat, mainly because you get your own privacy and its a better investment in the longrun if you want to expand.
house, but out of london.....loan
Now I live in zone 3 and commute to zone 1 to work. Having that budget size, I'm prepared to move further to find somewhere liveable with that budget. However I don't know whether I should spend it on a house further away (zone 6) or flat in renovation areas. As for a house, how could I be sure of the quality which could go down and cost me maintenance and repairs year after year? If I go for a flat, is renovation area good investment, i.e. prices could go up better than houses in remote districts?
Thanks a lot for your advice.Should I buy house of flat?
It basically depends on what is right for your personal circumstances. If you are a couple and are planning to have children, then you'll want a garden etc and hence would need a house.
A house does require more individual maintenance than a flat - however, with a flat; you have to contribute to the upkeep of the whole building and communal areas - and this is paid through what is known as a ';service charge';. In addition, most flats are leasehold - which means you don't own them outright. You merely buy the right to live in the flat for x period of time (where x is equal to the number of years remaining on the lease). You normally pay ground rent to the landlord as well as a service charge. Both these charges vary depending on the property itself. In my area, ground rent + service charge vary from 拢50 per month to over 拢100 per month.Should I buy house of flat?
I'd buy a freehold 1-2 bed flat. Your looking at about 160-200K for Zone 3-4. If you've got a high flying city job, your laughing.
I would go for a house. Flats are leasehold and there has been quite a lot in the press recently about owners having to pay out small fortunes on general upkeep of buildings.
Really research your areas, check out the Location Location website for tips on how to find out where is up and coming etc;
You will have maintenance and repairs with any property, possibly more with an old house but if you make sure you get a good structural survey done before completing you should be pretty safe.
See your local estate agent he/she will advise on current trends in the area you are wanting to rent.
If you are alone I suggest flat nearer London for now. They are always easy to sell and later you can get a bigger mortgage and then go for a house.
Good luck whatever you choose.
I would go for a house and not a flat, mainly because you get your own privacy and its a better investment in the longrun if you want to expand.
house, but out of london.....
Can i Buy house after foreclosure?
I have filed bankruptcy a little bit ago. I keep my car a lease and my house. Somethings in my life have changed will not git in to all that. now i have to let car go back and foreclose on my house. Will i ever be able to buy a house again. I cant sell it as it is worth like 50k less than payoff. PLEASE HELP!!!!Can i Buy house after foreclosure?
You're better off trying to sell the house even if you get $50,000 less for it. At least most of the mortgage will be paid off. Then you'll just be liable for the rest of the loan. That's better than being liable for the whole thing. If you do let it go into foreclosure, you'll always have a very difficult time getting a home loan. Even after the 7 -10 years on your credit report, a bank will ask you specifically if you've ever gone bankrupt or foreclosed. If you lie about that on a loan application, then you're asking for a whole new set of problems.Can i Buy house after foreclosure?
it will take 7 years for all the crap to get get off your credit
You're better off trying to sell the house even if you get $50,000 less for it. At least most of the mortgage will be paid off. Then you'll just be liable for the rest of the loan. That's better than being liable for the whole thing. If you do let it go into foreclosure, you'll always have a very difficult time getting a home loan. Even after the 7 -10 years on your credit report, a bank will ask you specifically if you've ever gone bankrupt or foreclosed. If you lie about that on a loan application, then you're asking for a whole new set of problems.Can i Buy house after foreclosure?
it will take 7 years for all the crap to get get off your credit
I owe more than house is worth 40.000. have good credit want to refi no help. can i buy house and foreclose?
on existing home? how can i go about this?I owe more than house is worth 40.000. have good credit want to refi no help. can i buy house and foreclose?
contact a certified HUD advisor in your area. They will direct you to your options. Mortgage companies and banks must work with you. There are programs out there that can reduce the amount you owe on your home.
Unfortunately, Obama is doing the right thing, but banks, true to their greedy nature, are dragging their feet. So you really need to talk to a HUD advisor. Do a websearch and you should find someone in your area.I owe more than house is worth 40.000. have good credit want to refi no help. can i buy house and foreclose?
Technically, you could do this. It has a name, but it escapes me at the moment. The only problem with this method of getting rid of a mortgage, is the fact that it is illegal. When you signed all of your loan papers there (more than likely) was a clause stating that you take responsibility for repayment, and the lender can legally go after you and still receive payment of the defaulted loan. Plus, with the housing market in such a crisis, the banks may not be as willing to lend to you at this time. Maybe it would be better to rent your house out. There are plenty of people looking to rent housing right now because of the mortgage crisis.
contact a certified HUD advisor in your area. They will direct you to your options. Mortgage companies and banks must work with you. There are programs out there that can reduce the amount you owe on your home.
Unfortunately, Obama is doing the right thing, but banks, true to their greedy nature, are dragging their feet. So you really need to talk to a HUD advisor. Do a websearch and you should find someone in your area.I owe more than house is worth 40.000. have good credit want to refi no help. can i buy house and foreclose?
Technically, you could do this. It has a name, but it escapes me at the moment. The only problem with this method of getting rid of a mortgage, is the fact that it is illegal. When you signed all of your loan papers there (more than likely) was a clause stating that you take responsibility for repayment, and the lender can legally go after you and still receive payment of the defaulted loan. Plus, with the housing market in such a crisis, the banks may not be as willing to lend to you at this time. Maybe it would be better to rent your house out. There are plenty of people looking to rent housing right now because of the mortgage crisis.
Where can I buy House MD shirts in Manila?
I found some great pics of House MD at dvdsetcollection, maybe we can DIY a T-shirt.Where can I buy House MD shirts in Manila?
House MD shirts in Manila ,you can though web
http://weargood.com/mj-memory-t-shirts/7鈥?/a>Where can I buy House MD shirts in Manila?
in da shap, any shap
House MD shirts in Manila ,you can though web
http://weargood.com/mj-memory-t-shirts/7鈥?/a>Where can I buy House MD shirts in Manila?
in da shap, any shap
How do you buy house that you earn on san andreas for xbox?
well as u should know there are 3 islands and u can only buy houses on the islands that u have unlocked after u have unlocked all three of them u can buy all the houses just look for a green house and buy ....if the little house is red it means u have not unlocked that island yet u have to do more missions
Hi i m thinking to buy house in brampton so is it right decision right now ? help me out?
hi i m looking to buy house in brampton and also i cannot put more down payment on 5% will be fine for me so can u guys help me is it the right time to buy the house ?Hi i m thinking to buy house in brampton so is it right decision right now ? help me out?
Brampton where? Near Wombwell in Barnsley? No it's a dump.Hi i m thinking to buy house in brampton so is it right decision right now ? help me out?
Not sure about your location, but here the economy sucks so bad that it's a buyer's market. IF YOU CAN GET A LOAN then you can get very low interest rates. Trouble is, our banks are so F*ed up they are slow to make loans.
I bought my house in 2003 while our economy was still wetting it's panties about 9-11-2001 and I got a 4-7/8% interest rate. I recently got a letter from my mortgage bank saying they would refinance at a 4-3/4% rate.
Unfortunately, I can't afford to do the refinance right now. Thank you, George Bush.
I had to use a 5% down payment and ended up getting into some complicated contracts with TWO mortgages. I don't recommend it. If you can get a bigger down payment then this is a perfect time to buy.
Brampton where? Near Wombwell in Barnsley? No it's a dump.Hi i m thinking to buy house in brampton so is it right decision right now ? help me out?
Not sure about your location, but here the economy sucks so bad that it's a buyer's market. IF YOU CAN GET A LOAN then you can get very low interest rates. Trouble is, our banks are so F*ed up they are slow to make loans.
I bought my house in 2003 while our economy was still wetting it's panties about 9-11-2001 and I got a 4-7/8% interest rate. I recently got a letter from my mortgage bank saying they would refinance at a 4-3/4% rate.
Unfortunately, I can't afford to do the refinance right now. Thank you, George Bush.
I had to use a 5% down payment and ended up getting into some complicated contracts with TWO mortgages. I don't recommend it. If you can get a bigger down payment then this is a perfect time to buy.
I am going to buy house in San Francisco?
but i need good moving company to move my old house to this city any reference for thatI am going to buy house in San Francisco?
http://excaliburvanlines.com is the best California movers that I know. Give them a call and you will see that not only the prices are very affordable, but they are also very professional.I am going to buy house in San Francisco?
Mayflower Moving Company
That's real nice.
That's the truth.loan
http://excaliburvanlines.com is the best California movers that I know. Give them a call and you will see that not only the prices are very affordable, but they are also very professional.I am going to buy house in San Francisco?
Mayflower Moving Company
That's real nice.
That's the truth.
Buy House in Biloxi, or in the Midwest United States (provincial town) for $ 3000-5000. This is the real price?
It sounds like more of a rental price than a purchase price. Can you provide more details?
Ever sold your house though those signs that say ';we buy houses'; or similar?
I see those signs around that say ';We buy houses.'; I assume these are real estate ';flippers'; who want to buy houses to turn around and sell for a profit. My house is only 3 years old, not a fixer upper. It seems like it might be a good idea to sell directly to an investor rather than going through an agent, especially since I have two dogs and a baby in the house. Does anyone have any experience or information to share?Ever sold your house though those signs that say ';we buy houses'; or similar?
You're right. I am an investor and I buy houses using the methods you see. The goal is to get 70% (or 15% in Southern California) of the fair market value. If you're facing a foreclosure or need a fast escrow, it's the best method, especially in a downward market. Otherwise, I would just list it with an agent.
RegardsEver sold your house though those signs that say ';we buy houses'; or similar?
off the top of my head i would say that you would automatically get less from these folks. your premise is correct that they tend to be investors, but in order for them to make money they have to shave it somewhere else. it's the old saying, ';Buy Low, Sell High.'; Translation, screw you out of 5-10%, if not more, off the price of your house. the open market would get you a bit more money, even less the realtor commissions.
Yeah..they are looking for desperate homeowners or the run down house in an area of nicer homes.
I write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
5-10% below market value??? Try 20-30% in many cases!
Their goal is to buy for as low as possible, whereas an agent wants to get you as much as possible. Good luck!
I know a bunch of investors that put out those signs. If you are willing to sell at a 30% or more discount, you are better off trying to sell it yourself. Price it a little below market, and it should sell pretty quickly.
You're right. I am an investor and I buy houses using the methods you see. The goal is to get 70% (or 15% in Southern California) of the fair market value. If you're facing a foreclosure or need a fast escrow, it's the best method, especially in a downward market. Otherwise, I would just list it with an agent.
RegardsEver sold your house though those signs that say ';we buy houses'; or similar?
off the top of my head i would say that you would automatically get less from these folks. your premise is correct that they tend to be investors, but in order for them to make money they have to shave it somewhere else. it's the old saying, ';Buy Low, Sell High.'; Translation, screw you out of 5-10%, if not more, off the price of your house. the open market would get you a bit more money, even less the realtor commissions.
Yeah..they are looking for desperate homeowners or the run down house in an area of nicer homes.
I write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
5-10% below market value??? Try 20-30% in many cases!
Their goal is to buy for as low as possible, whereas an agent wants to get you as much as possible. Good luck!
I know a bunch of investors that put out those signs. If you are willing to sell at a 30% or more discount, you are better off trying to sell it yourself. Price it a little below market, and it should sell pretty quickly.
I am disable person can i buy house and pay mortgage with this money?
If you are talking about the disability insurance payments that you receive, yes, you can use that money to pay mortgage payments.I am disable person can i buy house and pay mortgage with this money?
i think you try taking unusual carrers like business or agriculture cause it high salaries
i think you try taking unusual carrers like business or agriculture cause it high salaries
If parents buy house in state that I am planning to attend in college, is that considered...?
If my parents are to buy a house in oregon, and I am looking to go to the university of oregon, will i pay instate tuition, or out of state tuition? Also, what if I was to move into a house that my uncle bought? thank you for your helpIf parents buy house in state that I am planning to attend in college, is that considered...?
* Establishment of a domicile and predominant physical presence in Oregon for a period of 12 months or more prior to the beginning of the term for which residency is sought
* Financial dependence on an Oregon resident or financial independence
* Primary purpose for being in Oregon other than to obtain an education
* Nature and source of financial resources
* Various other indicia of residency (e.g., ownership of Oregon living quarters, permanent Oregon employment, payment of Oregon income taxes
If you are financially dependent on the Oregon parent, and the Oregon parent has established residency, then you would be considered to be a resident. You are considered to be dependent if you have been claimed on a parent鈥檚 state and federal tax forms. Students in these circumstances are often required to complete additional documentation verifying the financial support that has been provided by each parent.
If you take more than eight credits per term, in any term, in those first twelve months, the state will presume that your primary purpose for living in the state is for educational purposes, and you will continue to be classified as a non-resident.If parents buy house in state that I am planning to attend in college, is that considered...?
You become a resident after living there a certain amount of time.
Check with the school about what their residency procedure is. Sometimes they say you have to live in state for at least a year before you're considered in state.
Residency is established after you have lived in the state for a certain period of time, sometimes its six months, sometimes its a year. It all depends on the university. Owning a house or moving to the state does not automatically make you a resident.
takes roughly 6 months to declare for in state
Theres a certain amount of time required to be declared a resident of the state
I know in Florida, you must live in the state for 12 months prior to enrollment for the in state rate. If your parents lived there for the previous 12 months (and you are under age 22), you may still qualify. See the guidance counselor at your planned college.
* Establishment of a domicile and predominant physical presence in Oregon for a period of 12 months or more prior to the beginning of the term for which residency is sought
* Financial dependence on an Oregon resident or financial independence
* Primary purpose for being in Oregon other than to obtain an education
* Nature and source of financial resources
* Various other indicia of residency (e.g., ownership of Oregon living quarters, permanent Oregon employment, payment of Oregon income taxes
If you are financially dependent on the Oregon parent, and the Oregon parent has established residency, then you would be considered to be a resident. You are considered to be dependent if you have been claimed on a parent鈥檚 state and federal tax forms. Students in these circumstances are often required to complete additional documentation verifying the financial support that has been provided by each parent.
If you take more than eight credits per term, in any term, in those first twelve months, the state will presume that your primary purpose for living in the state is for educational purposes, and you will continue to be classified as a non-resident.If parents buy house in state that I am planning to attend in college, is that considered...?
You become a resident after living there a certain amount of time.
Check with the school about what their residency procedure is. Sometimes they say you have to live in state for at least a year before you're considered in state.
Residency is established after you have lived in the state for a certain period of time, sometimes its six months, sometimes its a year. It all depends on the university. Owning a house or moving to the state does not automatically make you a resident.
takes roughly 6 months to declare for in state
Theres a certain amount of time required to be declared a resident of the state
I know in Florida, you must live in the state for 12 months prior to enrollment for the in state rate. If your parents lived there for the previous 12 months (and you are under age 22), you may still qualify. See the guidance counselor at your planned college.
Trying to buy house. listed price 99900 offered 97000 w/seller paying closing w/cap of 2500 what do you think?
House has been on the market since last november but their realtor is trying to tell us they arent in a hurry to sell...although they already have their eye on a new house.Trying to buy house. listed price 99900 offered 97000 w/seller paying closing w/cap of 2500 what do you think?
Why on earth would you move up closing and then allow them 21 days to stay? Why not move closing back 3 weeks after your original date?
There are too many dumb and desperate buyers in this buyer's market. They are screwing up this once in a decade period for everyone else by creating a faux seller's market.
Pay the seller's $100,000 for the house and allow them to live in it rent free for 3 months. After all of that give them a thank you gift when they finally move out. I just want to save you the effort of the next question by giving you the answer in advance.Trying to buy house. listed price 99900 offered 97000 w/seller paying closing w/cap of 2500 what do you think?
I would be concerned about the sellers living in your house for 21 days after closing. Will they be paying rent and insurance? What happens if something breaks, or there is damage? Make sure you get something in writing about who is responsible for what during that 21 days.
what do i think........ a house for under 100k is amazing in the US
whats the sf%26gt;?
you should be able to get it... you could have offered like 94 and probably still would have gotten it...
Good Luck
If you have the time, that is a good start. This way, if there is haggling, I say go for it! Good luck!
I think that is VERY reasonable. If they don't take it, then they really aren't in a hurry to sell, or just stupid. In fact, they should take it for 95,000.
If they risk losing the sale for $750, they are kind of insane in this market...
If the agent is doing the tough-guy ';they're not in a rush to sell'; bit, why is he wasting time and money marketing that listing? He's either desperate for business or feeding you a line so that his seller makes out a bit better. What he's really doing in my opinion, is scaring you off.
I think you'll get the home at your latest offer no sweat.
Sounds like a good deal to me. Go for it! Wish I could find a deal like that in KS.
Without knowing the details of the house, location, etc., it's hard to place a prediction on what would be a good strategy.
So let's do this covertly...
You 'could' do a search for GIS services in your area. Perhaps your city or county offers that? Some GIS has real estate information on there that has who owns what and for how much. They may also have housing descriptors, building improvements, whatever. The scale of detail differs among communities. Your community's homepage, if it has one, might have a real estate/property lookup servlet. Try and see what, if anything, is offered for your community. It can be a powerful negotiating tool
Barring that, a house listed for $99,900 with you making a $97,000 offer with them paying $2,500 max on closing is a good offer. It's only a potential $5,000 difference. Between paying realtor commissions, home inspections, taxes, and other miscellany, the sellers are not going to make much profit on it. The bulk of the fees are on them in selling. The federal government regulates a wide scope of things that need to be 'just so' with a house for sale. Even more so with an FFA loan. Just because their realtor is telling you that they aren't in a hurry, don't believe it. Their realtor is trying to sell their house.
Depending on what the sellers want, or hope to get, they might see this as the best offer yet and work with you. I have seen more than one offer made to me fail because they couldn't secure financing or other reasons. Is your loan application with the mortgage company solid? You know the saying, Money talks, BS walks. Your negotiation would be regarded more favorably with backing from the mortgage company.
Good Luck!
that sounds good to Me. what state do you live in. In California the prices are so high that you pay over 300 grand for a house.
Always keep in mind that negotiation in Real Estate is just like playing high stakes poker.You know what you hold in your hand and try to bluff the seller into being anxious,Making him think if they don't give in you might walk away and go buy something else.The seller knows what they hold and try to bluff you into paying them more than you want for fear of not getting the home.I can sit there cold and collected while my wife is falling apart ready to have a nervous breakdown.In to days market you can probably get what you want as long as whomever is playing your hand has your best interest at heart,and knows how to play the game.
It doesn't matter what the listing price is. Sellers don't determine the price, buyers do. The fair market value of a house is determined by what a ready, willing and able buyer pays for it on the open market.
Given the fact that it has been sitting on the market since last November and you are willing to pay $94,500 (+2,500 seller credit), then I'd say you are paying, and the seller is getting (if accepted), a fair price.
Perception is more powerful than reality. You are willing to pay $97,000 (minus 2,500 which will be credited to you by the seller to cover your closing costs) because you percieve it to be a fair price. If you beleive it is, then it is!
On a separate note, if you were my client I'd suggest that you offer a little less than you are willing to pay for it (given the current market conditions and, especially, the fact that the house has been sitting on the market for more than six months). I'd submit the offer with compelling supporting evidence and cover letter explaining why your offer must be considered to be a fair one. One of the following three things can happen in that situation:
1) They will accept it; or
2) They will counter offer; or
3) Your offer will be rejected;
If scenario (1) happens...FANTASTIC, you will have gotten a bargain (value is in the eye of the beholder)
Scenario 2 - If they counter, it may still be less than what you are currently willing to pay for it. If not, you can counter their counter.
Scenario 3 - If your offer is rejected it will not prevent you from submitting another one.
I hope this helps.
Good luck,
TheREMpro
http://www.realtycounselors.com
Disclaimer: The information provided herein is solely for educational purposes. Nothing here shall be construed as legal, tax or any other professional advice.
Response to you additional information: Your addendum and my answer must have crossed one another. Anyway, please note the following additional information and amendments:
When you close prior to seller's move and enter into a rent-back situation, you and the seller/tenant create different contractual obligations and duties. You become a buyer/landlord and the other party becomes a seller/tenant. You get yourself a landlord/tenant situation with its potential headaches. What happens if the seller/tenant doesn't move out after 21 days? I don't know what the law is in Indiana but in California you would have to bring an ';unlawful detainer'; action against your tenants to evict them. What happens if the property is not deliverd to you in the same condition as it was promised or described in the purchase agreement? These are issues that you must consider beforehand.
Moreover, you'd also want to inform your insurance company about the rent-back situation since the homeowner's policy you will be obtaining will not be a landlord's policy most likely. Your simple homeowner's liability coverage may not cover any liability claims by your tenants. Check with your insurance company.
These are some of the potential risks you will be taking when you enter into a rent-back situation.
If I were you, I'd try to avoid it. But if you must do it, ask for more money in addition to the prorated PITI (Principal, Interest, Taxes and Insurance) and the seller credit. Ask for security deposit (which will be returned to them) and some premium over and above the PITI and seller credit to make it worthwhile for you to assume the potential risks.
My two cents...But my best answer: Consult with a lawyer.
TheREMpro
http://realtycounselors.comloan
Why on earth would you move up closing and then allow them 21 days to stay? Why not move closing back 3 weeks after your original date?
There are too many dumb and desperate buyers in this buyer's market. They are screwing up this once in a decade period for everyone else by creating a faux seller's market.
Pay the seller's $100,000 for the house and allow them to live in it rent free for 3 months. After all of that give them a thank you gift when they finally move out. I just want to save you the effort of the next question by giving you the answer in advance.Trying to buy house. listed price 99900 offered 97000 w/seller paying closing w/cap of 2500 what do you think?
I would be concerned about the sellers living in your house for 21 days after closing. Will they be paying rent and insurance? What happens if something breaks, or there is damage? Make sure you get something in writing about who is responsible for what during that 21 days.
what do i think........ a house for under 100k is amazing in the US
whats the sf%26gt;?
you should be able to get it... you could have offered like 94 and probably still would have gotten it...
Good Luck
If you have the time, that is a good start. This way, if there is haggling, I say go for it! Good luck!
I think that is VERY reasonable. If they don't take it, then they really aren't in a hurry to sell, or just stupid. In fact, they should take it for 95,000.
If they risk losing the sale for $750, they are kind of insane in this market...
If the agent is doing the tough-guy ';they're not in a rush to sell'; bit, why is he wasting time and money marketing that listing? He's either desperate for business or feeding you a line so that his seller makes out a bit better. What he's really doing in my opinion, is scaring you off.
I think you'll get the home at your latest offer no sweat.
Sounds like a good deal to me. Go for it! Wish I could find a deal like that in KS.
Without knowing the details of the house, location, etc., it's hard to place a prediction on what would be a good strategy.
So let's do this covertly...
You 'could' do a search for GIS services in your area. Perhaps your city or county offers that? Some GIS has real estate information on there that has who owns what and for how much. They may also have housing descriptors, building improvements, whatever. The scale of detail differs among communities. Your community's homepage, if it has one, might have a real estate/property lookup servlet. Try and see what, if anything, is offered for your community. It can be a powerful negotiating tool
Barring that, a house listed for $99,900 with you making a $97,000 offer with them paying $2,500 max on closing is a good offer. It's only a potential $5,000 difference. Between paying realtor commissions, home inspections, taxes, and other miscellany, the sellers are not going to make much profit on it. The bulk of the fees are on them in selling. The federal government regulates a wide scope of things that need to be 'just so' with a house for sale. Even more so with an FFA loan. Just because their realtor is telling you that they aren't in a hurry, don't believe it. Their realtor is trying to sell their house.
Depending on what the sellers want, or hope to get, they might see this as the best offer yet and work with you. I have seen more than one offer made to me fail because they couldn't secure financing or other reasons. Is your loan application with the mortgage company solid? You know the saying, Money talks, BS walks. Your negotiation would be regarded more favorably with backing from the mortgage company.
Good Luck!
that sounds good to Me. what state do you live in. In California the prices are so high that you pay over 300 grand for a house.
Always keep in mind that negotiation in Real Estate is just like playing high stakes poker.You know what you hold in your hand and try to bluff the seller into being anxious,Making him think if they don't give in you might walk away and go buy something else.The seller knows what they hold and try to bluff you into paying them more than you want for fear of not getting the home.I can sit there cold and collected while my wife is falling apart ready to have a nervous breakdown.In to days market you can probably get what you want as long as whomever is playing your hand has your best interest at heart,and knows how to play the game.
It doesn't matter what the listing price is. Sellers don't determine the price, buyers do. The fair market value of a house is determined by what a ready, willing and able buyer pays for it on the open market.
Given the fact that it has been sitting on the market since last November and you are willing to pay $94,500 (+2,500 seller credit), then I'd say you are paying, and the seller is getting (if accepted), a fair price.
Perception is more powerful than reality. You are willing to pay $97,000 (minus 2,500 which will be credited to you by the seller to cover your closing costs) because you percieve it to be a fair price. If you beleive it is, then it is!
On a separate note, if you were my client I'd suggest that you offer a little less than you are willing to pay for it (given the current market conditions and, especially, the fact that the house has been sitting on the market for more than six months). I'd submit the offer with compelling supporting evidence and cover letter explaining why your offer must be considered to be a fair one. One of the following three things can happen in that situation:
1) They will accept it; or
2) They will counter offer; or
3) Your offer will be rejected;
If scenario (1) happens...FANTASTIC, you will have gotten a bargain (value is in the eye of the beholder)
Scenario 2 - If they counter, it may still be less than what you are currently willing to pay for it. If not, you can counter their counter.
Scenario 3 - If your offer is rejected it will not prevent you from submitting another one.
I hope this helps.
Good luck,
TheREMpro
http://www.realtycounselors.com
Disclaimer: The information provided herein is solely for educational purposes. Nothing here shall be construed as legal, tax or any other professional advice.
Response to you additional information: Your addendum and my answer must have crossed one another. Anyway, please note the following additional information and amendments:
When you close prior to seller's move and enter into a rent-back situation, you and the seller/tenant create different contractual obligations and duties. You become a buyer/landlord and the other party becomes a seller/tenant. You get yourself a landlord/tenant situation with its potential headaches. What happens if the seller/tenant doesn't move out after 21 days? I don't know what the law is in Indiana but in California you would have to bring an ';unlawful detainer'; action against your tenants to evict them. What happens if the property is not deliverd to you in the same condition as it was promised or described in the purchase agreement? These are issues that you must consider beforehand.
Moreover, you'd also want to inform your insurance company about the rent-back situation since the homeowner's policy you will be obtaining will not be a landlord's policy most likely. Your simple homeowner's liability coverage may not cover any liability claims by your tenants. Check with your insurance company.
These are some of the potential risks you will be taking when you enter into a rent-back situation.
If I were you, I'd try to avoid it. But if you must do it, ask for more money in addition to the prorated PITI (Principal, Interest, Taxes and Insurance) and the seller credit. Ask for security deposit (which will be returned to them) and some premium over and above the PITI and seller credit to make it worthwhile for you to assume the potential risks.
My two cents...But my best answer: Consult with a lawyer.
TheREMpro
http://realtycounselors.com
Saturday, February 27, 2010
I have plan to buy house in marilao do you think it is not afected for that?
Your question makes no sense?? Do I think the house will be affected by what???
Friday, February 26, 2010
Can someone suggest some good realtors to buy house in south bay(santa clara/san jose/sunnyvale, CA)?
Specifically any of the following you have done business with:
(i) Any realtor from Intero realty
(ii) Any realtor from Century21
(iii) Any realtor from Ziprealty
(iv) Coldwell banker realty
(v) Any independent realtors with whom you have had a good experience buying a home
(vi) Online agents such as RedfinCan someone suggest some good realtors to buy house in south bay(santa clara/san jose/sunnyvale, CA)?
The best real estate broker that I have found is the one who found me my first house in Cupertino, California.
The house has Monta Vista high school which is one of the best high schools in the United States.
My real estate broker is also a mortgage broker and he gives his clients that buy real estate from him loans at a wholesale rate which is much less than you can get at a bank.
He got me my house in 1998 and refinanced it down several times.
In 2004 he got me a 30 year fixed rate loan at 4.75%. I have all these people calling me wanting to refinance my loan and when I tell them I have a 30 year fixed rate loan at 4.75% they either tell me that there is no way that they can beat that or they do not believe me that anyone would have got me a rate of 4.75% fixed for 30 years. I do not have to worry about my loan adjusting or refinancing any more..
Also my real estate broker is a former real estate appraiser. He was training to be an MAI real estate appraiser which is the best in the business when he decided he could really provide a service to people buying real estate because he was trained as a real estate appraiser and none of the other real estate brokers are trained to do that.
Because he is a former real estate appraiser he knows property values much better than any other real estate broker that I have met.
Also he has testified and won as an expert witness for real estate values in the Superior Court of Santa Clara County.
I have not met any other real estate brokers who were recognized as expert witnesses in Superior Court.
He is a real professional. He has trained for years and has many years of experience.
Even in this collapse of the real estate market, my house has not lost any value at all.
Other people cannot sell their houses, yet I have people calling me from out of the blue wanting to buy my house because they want their kids to go to Monta Vista High School so their kids will have an advantage getting into Harvard or Yale.
In fact as I recall my real estate broker's mother used to teach at Monta Vist high school until she retired.
The house that he found for me is the best deal that I have ever had in my life.
The real estate broker that I used is an independent broker he is not with one of the big companies, but I think that he is head and shoulders above any other real estate broker that I have ever met.
My real estate broker's name is Charles Butterfield. His cell phone is (408)509-6218.
I recommend that you call him and see what you think. I think that you will really like him.Can someone suggest some good realtors to buy house in south bay(santa clara/san jose/sunnyvale, CA)?
good thing you asked, my mom is a real estate agent. she isnt your typical real estate agent, she saves her clients a lot of money by asking for credits for closing costs and for repairs to the home. she also knows where you can get the best loan and financing. she is overall a good agent, who works for century 21. email me for her info =)
If you have any detailed questions, please contact me directly. You can e-mail me at: sancho.zabala@gmail.com. I am a real estate agent in Santa Clara, CA.
If you are relocating then you should ask your Realtor for a referral to an agent out there. Your Realtor knows you already and knows who you would like to work with so this question is kind of tricky because there are Realtors out there that are strictly business and then there are Realtors who tend to take their time and go out of their way to make you feel super comfortable. Everyone expectations of what they are looking for in a Realtor are different so anyone can tell you they had a good experience with any Realtor but I think that you might have a better referral from someone who knows you. I hope this helps! Good Luck!!
(i) Any realtor from Intero realty
(ii) Any realtor from Century21
(iii) Any realtor from Ziprealty
(iv) Coldwell banker realty
(v) Any independent realtors with whom you have had a good experience buying a home
(vi) Online agents such as RedfinCan someone suggest some good realtors to buy house in south bay(santa clara/san jose/sunnyvale, CA)?
The best real estate broker that I have found is the one who found me my first house in Cupertino, California.
The house has Monta Vista high school which is one of the best high schools in the United States.
My real estate broker is also a mortgage broker and he gives his clients that buy real estate from him loans at a wholesale rate which is much less than you can get at a bank.
He got me my house in 1998 and refinanced it down several times.
In 2004 he got me a 30 year fixed rate loan at 4.75%. I have all these people calling me wanting to refinance my loan and when I tell them I have a 30 year fixed rate loan at 4.75% they either tell me that there is no way that they can beat that or they do not believe me that anyone would have got me a rate of 4.75% fixed for 30 years. I do not have to worry about my loan adjusting or refinancing any more..
Also my real estate broker is a former real estate appraiser. He was training to be an MAI real estate appraiser which is the best in the business when he decided he could really provide a service to people buying real estate because he was trained as a real estate appraiser and none of the other real estate brokers are trained to do that.
Because he is a former real estate appraiser he knows property values much better than any other real estate broker that I have met.
Also he has testified and won as an expert witness for real estate values in the Superior Court of Santa Clara County.
I have not met any other real estate brokers who were recognized as expert witnesses in Superior Court.
He is a real professional. He has trained for years and has many years of experience.
Even in this collapse of the real estate market, my house has not lost any value at all.
Other people cannot sell their houses, yet I have people calling me from out of the blue wanting to buy my house because they want their kids to go to Monta Vista High School so their kids will have an advantage getting into Harvard or Yale.
In fact as I recall my real estate broker's mother used to teach at Monta Vist high school until she retired.
The house that he found for me is the best deal that I have ever had in my life.
The real estate broker that I used is an independent broker he is not with one of the big companies, but I think that he is head and shoulders above any other real estate broker that I have ever met.
My real estate broker's name is Charles Butterfield. His cell phone is (408)509-6218.
I recommend that you call him and see what you think. I think that you will really like him.Can someone suggest some good realtors to buy house in south bay(santa clara/san jose/sunnyvale, CA)?
good thing you asked, my mom is a real estate agent. she isnt your typical real estate agent, she saves her clients a lot of money by asking for credits for closing costs and for repairs to the home. she also knows where you can get the best loan and financing. she is overall a good agent, who works for century 21. email me for her info =)
If you have any detailed questions, please contact me directly. You can e-mail me at: sancho.zabala@gmail.com. I am a real estate agent in Santa Clara, CA.
If you are relocating then you should ask your Realtor for a referral to an agent out there. Your Realtor knows you already and knows who you would like to work with so this question is kind of tricky because there are Realtors out there that are strictly business and then there are Realtors who tend to take their time and go out of their way to make you feel super comfortable. Everyone expectations of what they are looking for in a Realtor are different so anyone can tell you they had a good experience with any Realtor but I think that you might have a better referral from someone who knows you. I hope this helps! Good Luck!!
I have a question about 8000 dollars from gov to buy house?
can any one tell me about the thing were the government is giving 8000 dollars to first time home buyers perhaps a link were i can find out how to applyI have a question about 8000 dollars from gov to buy house?
Go to www.IRS.gov. Search for ';First time Home Buyers credit';. You will find all the information you need right there.I have a question about 8000 dollars from gov to buy house?
You don't apply for this credit to purchase a home. FIRST, you buy the home as you would any other. THEN you apply for a credit/check against your income taxes.
You don't apply for this. You will get a income tax credit worth $8000 for your house on your income taxes when you file them next year.
There isn't an application, it is a tax credit.
Go to www.IRS.gov. Search for ';First time Home Buyers credit';. You will find all the information you need right there.I have a question about 8000 dollars from gov to buy house?
You don't apply for this credit to purchase a home. FIRST, you buy the home as you would any other. THEN you apply for a credit/check against your income taxes.
You don't apply for this. You will get a income tax credit worth $8000 for your house on your income taxes when you file them next year.
There isn't an application, it is a tax credit.
Can i buy house and lot in baguio city for less than i million pesos?
having one can save me hotel fee.Can i buy house and lot in baguio city for less than i million pesos?
My mom is in Baguio. Although she doesn't have a computer, I can get in touch and get info. What are your plans anyway? Stay there permanently? Or few months? Since if you get hotel, you might be able to get hotel for a year for million pesos (and you don't have to worry about taxes, utilities, you don't even have to make your own bed! Lol...)
you can contact me at ytmaya@t-online.deCan i buy house and lot in baguio city for less than i million pesos?
try http://www.phadpost.com/ph/
do a search on Bagiuo for sale houses
contact them directly :)
there are a lot of new cheap houses around naguillan road selling for around 1million more or less.
Yes there are lots of it. Depends of which location.
My mom is in Baguio. Although she doesn't have a computer, I can get in touch and get info. What are your plans anyway? Stay there permanently? Or few months? Since if you get hotel, you might be able to get hotel for a year for million pesos (and you don't have to worry about taxes, utilities, you don't even have to make your own bed! Lol...)
you can contact me at ytmaya@t-online.deCan i buy house and lot in baguio city for less than i million pesos?
try http://www.phadpost.com/ph/
do a search on Bagiuo for sale houses
contact them directly :)
there are a lot of new cheap houses around naguillan road selling for around 1million more or less.
Yes there are lots of it. Depends of which location.
Is it good time to buy house in british columbia?
buying a house is always good if you can afford it. if you like a house go for it. before some body else buy your dream houseIs it good time to buy house in british columbia?
for that check
http://www.biznuss.friendsmela.com
i hope that resolve your problem
i found it on answers.yahoo.com
for that check
http://www.biznuss.friendsmela.com
i hope that resolve your problem
i found it on answers.yahoo.com
How long do you have to be at the same job before a bank/credit union will loan you money to buy house ?
Most banks like to see at least a 3yr work history with one employer. However if you have a special circumstance and a good loans manager, sometimes this rule can be overlooked.How long do you have to be at the same job before a bank/credit union will loan you money to buy house ?
It depends on your type of job. A new doctor can get a loan on day 1. A new carpenter may need 6 months to a year on the job.loan
It depends on your type of job. A new doctor can get a loan on day 1. A new carpenter may need 6 months to a year on the job.
Which is wiser: to buy a cheap house and renovate it or buy house in mint condition at the limit price?
I am looking at houses to buy and today say a house which is selling around 300,000 but needs work done on it to make it new or should i keep looking for a better house. Which would you choose and what would you take under consideration?Which is wiser: to buy a cheap house and renovate it or buy house in mint condition at the limit price?
i would choose a new house.
too much money for repariing.Which is wiser: to buy a cheap house and renovate it or buy house in mint condition at the limit price?
The most significant question is whether you can get a return on your investment of:
~Time
~Money
~Patience
Contract labor is relatively expensive, and the costs of paying someone to do work add up quickly... plus materials.
Time is important. I can build a house, so am able to fix anything in one I buy, but the question I often ask myself is what other aspects of my life I'd neglect by investing time in a fixer-upper?
Patience. Most people want instant gratification, and many repairs take time. There is a tempatation to start many projects at once, rather than proceed in a methodical manner. I'd caution against this impulse (although I haven't taken my own advice and have about 100 half-finished projects).
Good luck in your decision.
Take the fixer-upper. Recent history (the last 18 months) show that housing prices can go down as well as up, and over a period of decades the price of a house goes up about at the same rate as inflation. The more expensive house may go down in price (so can the fixer-upper) but you will have a larger mortgage to pay off.
Look at the fixer-upper as a chance to personalize your house. An expensive house may have, for example, new kitchen cabinets that you don't mind living with but aren't your favorite style. An expensive house may have carpets where you would rather have wood floors or vice-versa.
Make the $300,000 house your own and keep your mortgage payments low, so that eventually you will have enough money left over each month to actually have some fun instead of paying all you have to a bank.
I thought I made the right decision building and 1 year later I was repainting re carpeting putting tile down replacing all the cheap builder products in the house down to door knobs everything is built so cheap in last 10 years. I think now I would have been better off buying a fixer upper cheaper having 30 years of lower mortgage payments and fixing it up. I would have spent probably less money renovating than replaces all this builder crap! Older houses are very charming and usually have real wood doors cabinets character and right now I would love if my mortgage was about 1/2 price!
if it was just me, i would buy the newer house because i am not handy
BUT i am married to a tradesman, so if we were buying it he could tell us how to fix things and i could do it if directed
if you are buying a home to fix up
please keep in mind that renovations take time and money
if you don't know what you are doing you can waste a lot of time and money as well
If you buy a house that brand new it has a higher chance of having things go wrong later because the foundation is still settling and if you buy one that needs to be renovated make sure you have enough money and time to do everything but at least you know whats needs work that's what we did we've been here almost 2 years and were still changing things but we did the major things first and its pretty good and when you sell it you will get more than what you bought it for
I definitely don't think it would be wise to max out your credit to buy a perfect house, but if you're not crazy about the house you saw today you should definitely keep looking. But I think you'd be better off buying something that would afford you the extra cash to make any necessary improvements.
well, depends on the house. so long as it is structually sound and you have the money to make it the way you want, ok, but me i wouldnt want the hassle. i would rather just buy something ready to move in without having to do anymore to it
i would just buy the house in mint condition, considering it is exactly how you want it, no point if you are gonna re-do it. renovating has so many hidden costs, its not just as simple as 'doing it up'
300,000? in my area that would buy an extremely nice house that doesn't need any work LOL The joys of a low cost of living!
Anyway, if you want the house to be yours...and make it the way that you want it then definately go with a fixer upper.....
O
Hmm... that's a tricky one but I'd probably say the mint condition one because the money's already spent, you can underestimate the cost of renovating and the emotional and physical drain too!
If the Renovations cost more than the mint condition house then just go for the better house
Keep looking for a better that you can afford without killing yourself and that it doesn't need renovation cause there could be hidden repairs or have a good licensed inspector inspect the haus.
I would get a even bigger house in mint condition so I don't have to spend time and money on something that could be made even better for a few 100,000 dollars
If you can do the work yourself, then buy the fixer-upper. Otherwise, buy the house in better shape.
it really depends off the actual condition of the house...
mint condition
no matter what the condition, its the location that counts.
you have to look at how many renovations you would have to make nad how much that would cost...then compare
fixer uppers.
if I can do the work
it's Sold !
Rent, dont buy a house now! with all the problems today!
or cheap house and renovate it..depending on how much renovation is needed..at least you'll get it done to your taste.
i would choose a new house.
too much money for repariing.Which is wiser: to buy a cheap house and renovate it or buy house in mint condition at the limit price?
The most significant question is whether you can get a return on your investment of:
~Time
~Money
~Patience
Contract labor is relatively expensive, and the costs of paying someone to do work add up quickly... plus materials.
Time is important. I can build a house, so am able to fix anything in one I buy, but the question I often ask myself is what other aspects of my life I'd neglect by investing time in a fixer-upper?
Patience. Most people want instant gratification, and many repairs take time. There is a tempatation to start many projects at once, rather than proceed in a methodical manner. I'd caution against this impulse (although I haven't taken my own advice and have about 100 half-finished projects).
Good luck in your decision.
Take the fixer-upper. Recent history (the last 18 months) show that housing prices can go down as well as up, and over a period of decades the price of a house goes up about at the same rate as inflation. The more expensive house may go down in price (so can the fixer-upper) but you will have a larger mortgage to pay off.
Look at the fixer-upper as a chance to personalize your house. An expensive house may have, for example, new kitchen cabinets that you don't mind living with but aren't your favorite style. An expensive house may have carpets where you would rather have wood floors or vice-versa.
Make the $300,000 house your own and keep your mortgage payments low, so that eventually you will have enough money left over each month to actually have some fun instead of paying all you have to a bank.
I thought I made the right decision building and 1 year later I was repainting re carpeting putting tile down replacing all the cheap builder products in the house down to door knobs everything is built so cheap in last 10 years. I think now I would have been better off buying a fixer upper cheaper having 30 years of lower mortgage payments and fixing it up. I would have spent probably less money renovating than replaces all this builder crap! Older houses are very charming and usually have real wood doors cabinets character and right now I would love if my mortgage was about 1/2 price!
if it was just me, i would buy the newer house because i am not handy
BUT i am married to a tradesman, so if we were buying it he could tell us how to fix things and i could do it if directed
if you are buying a home to fix up
please keep in mind that renovations take time and money
if you don't know what you are doing you can waste a lot of time and money as well
If you buy a house that brand new it has a higher chance of having things go wrong later because the foundation is still settling and if you buy one that needs to be renovated make sure you have enough money and time to do everything but at least you know whats needs work that's what we did we've been here almost 2 years and were still changing things but we did the major things first and its pretty good and when you sell it you will get more than what you bought it for
I definitely don't think it would be wise to max out your credit to buy a perfect house, but if you're not crazy about the house you saw today you should definitely keep looking. But I think you'd be better off buying something that would afford you the extra cash to make any necessary improvements.
well, depends on the house. so long as it is structually sound and you have the money to make it the way you want, ok, but me i wouldnt want the hassle. i would rather just buy something ready to move in without having to do anymore to it
i would just buy the house in mint condition, considering it is exactly how you want it, no point if you are gonna re-do it. renovating has so many hidden costs, its not just as simple as 'doing it up'
300,000? in my area that would buy an extremely nice house that doesn't need any work LOL The joys of a low cost of living!
Anyway, if you want the house to be yours...and make it the way that you want it then definately go with a fixer upper.....
O
Hmm... that's a tricky one but I'd probably say the mint condition one because the money's already spent, you can underestimate the cost of renovating and the emotional and physical drain too!
If the Renovations cost more than the mint condition house then just go for the better house
Keep looking for a better that you can afford without killing yourself and that it doesn't need renovation cause there could be hidden repairs or have a good licensed inspector inspect the haus.
I would get a even bigger house in mint condition so I don't have to spend time and money on something that could be made even better for a few 100,000 dollars
If you can do the work yourself, then buy the fixer-upper. Otherwise, buy the house in better shape.
it really depends off the actual condition of the house...
mint condition
no matter what the condition, its the location that counts.
you have to look at how many renovations you would have to make nad how much that would cost...then compare
fixer uppers.
if I can do the work
it's Sold !
Rent, dont buy a house now! with all the problems today!
or cheap house and renovate it..depending on how much renovation is needed..at least you'll get it done to your taste.
I need to buy house and lend money on mortgage.Anybody know which bank has the lowest interest rate?
interest rates are extremely competitive and change very frequently. They also depend on your credit and what you are buying. A vacation home or rental property or a home for your family or whatever will partially determine what the rate is.
It is in your best interest not to sucked in by someone that falsely promises a low rate and then cancels at the very last minute when you are desperate.
Find a local loan officer that is recommended by friends that have recently bought a home themselves. Their rate and their fees will be very competitive.I need to buy house and lend money on mortgage.Anybody know which bank has the lowest interest rate?
Do not go on the internet to find a lender. Go to a local bank or brokerage and deal with someone you can speak with face to face. Get a realtor to recommend someone she has worked with for a long time. Someone she has had success with.I need to buy house and lend money on mortgage.Anybody know which bank has the lowest interest rate?
It will depend on what type of rate you want and what your circumstances are as you may not qualify for all of the products out there.
If you want advice speak to a mortgage broker.
This Link Have All information About Bank Loans.
It is in your best interest not to sucked in by someone that falsely promises a low rate and then cancels at the very last minute when you are desperate.
Find a local loan officer that is recommended by friends that have recently bought a home themselves. Their rate and their fees will be very competitive.I need to buy house and lend money on mortgage.Anybody know which bank has the lowest interest rate?
Do not go on the internet to find a lender. Go to a local bank or brokerage and deal with someone you can speak with face to face. Get a realtor to recommend someone she has worked with for a long time. Someone she has had success with.I need to buy house and lend money on mortgage.Anybody know which bank has the lowest interest rate?
It will depend on what type of rate you want and what your circumstances are as you may not qualify for all of the products out there.
If you want advice speak to a mortgage broker.
This Link Have All information About Bank Loans.
We want to buy house and have 3 young kids. I am wondering are small powerline hurts kids same as large one?
please give me all details!!!!We want to buy house and have 3 young kids. I am wondering are small powerline hurts kids same as large one?
If you mean the radiation given off by the power lines, I think not. Almost all homes have small power lines nearby, and do not seem to cause damage to the homeowners.
If you mean the radiation given off by the power lines, I think not. Almost all homes have small power lines nearby, and do not seem to cause damage to the homeowners.
Want to buy house in united states connecticut should buy a 30 to 40 year old or brand new to 10 years help!?
If the 30 to 40 year old house is in good condition and not much or no work needs to be done I would go that way. The older houses have so much more character.
Foreclosure in June - want to buy house from father for $60,000 that appraises at $90,000. Is there any way?
I had a foreclosure in June 2006 because my wife and I both lost our jobs. Tried to work with mortgage company to no avail. My wife and I both have jobs now. My father has a house that was recently appraised at $90,000.00 but he will sell it to me for $60,000.00. Are there any lenders that will work with me on this even with bad credit and no money down?Foreclosure in June - want to buy house from father for $60,000 that appraises at $90,000. Is there any way?
The lender will use the lower of the appraised value and transfer price as the value of the home. So it will be like there is no equity in the property when you get it from your father. In this type of transaction, there is no gift of equity imputed.
There are subprime lenders who might work with you, but at a cost. A high cost. And once you're in the subprime market, the cards are stacked against you. The subprime lenders do everything they can to keep you as a customer.
Might your father consider some sort of lease-to-own arrangement for a couple years until you are in a better financial situation and can get a better mortgage?Foreclosure in June - want to buy house from father for $60,000 that appraises at $90,000. Is there any way?
You don't need money down since you are borrowing less than 80% loan to value.
Sure some lender will.
Apply at www.eloan.com
Even if you could qualify for a loan, it is illegal to sell a house to a family member for less than it's worth because of the Gift Tax. Each year your father can only give you $14,000 tax-free (2006 law; in 2007 the amount may be higher...). If he sold you the house for $60,000 it would be looked at as tax evasion, an attempt to give you $30,000 without paying the gift tax on it. You need to talk to a financial advisor and/or tax planner to make sure you structure the deal in a legal manner.
Where is your father's house? (County and State)
How much do you have for the down payment?
No. Because your father is the seller, a family member, the banks are likely to be suspicious.
If your father owns the house outright, will he sell it to you on a land contract? Meaning he acts as the mortgagor and collects monthly payments of principal and interest from you until you pay for the house.
you need to be 12 months out of the foreclosure or NOD and you can actually use the difference between the value and purchase price as a down payment or what we call in the industry a ';
gift of equity'; you could also set up a land contract with your father if you cant wait for your foreclosure to be 12 months past.
Yes, checkout http://intnlfinderspecs.zip.io and that should put you on your way to getting the financing you need
The lender will use the lower of the appraised value and transfer price as the value of the home. So it will be like there is no equity in the property when you get it from your father. In this type of transaction, there is no gift of equity imputed.
There are subprime lenders who might work with you, but at a cost. A high cost. And once you're in the subprime market, the cards are stacked against you. The subprime lenders do everything they can to keep you as a customer.
Might your father consider some sort of lease-to-own arrangement for a couple years until you are in a better financial situation and can get a better mortgage?Foreclosure in June - want to buy house from father for $60,000 that appraises at $90,000. Is there any way?
You don't need money down since you are borrowing less than 80% loan to value.
Sure some lender will.
Apply at www.eloan.com
Even if you could qualify for a loan, it is illegal to sell a house to a family member for less than it's worth because of the Gift Tax. Each year your father can only give you $14,000 tax-free (2006 law; in 2007 the amount may be higher...). If he sold you the house for $60,000 it would be looked at as tax evasion, an attempt to give you $30,000 without paying the gift tax on it. You need to talk to a financial advisor and/or tax planner to make sure you structure the deal in a legal manner.
Where is your father's house? (County and State)
How much do you have for the down payment?
No. Because your father is the seller, a family member, the banks are likely to be suspicious.
If your father owns the house outright, will he sell it to you on a land contract? Meaning he acts as the mortgagor and collects monthly payments of principal and interest from you until you pay for the house.
you need to be 12 months out of the foreclosure or NOD and you can actually use the difference between the value and purchase price as a down payment or what we call in the industry a ';
gift of equity'; you could also set up a land contract with your father if you cant wait for your foreclosure to be 12 months past.
Yes, checkout http://intnlfinderspecs.zip.io and that should put you on your way to getting the financing you need
Can we claim tax in US, if we buy house outside US?
What do you mean by ';claim tax?'; You don't ';claim'; taxes, you PAY taxes.
If you own a primary or second residence anywhere in the world, you can deduct the mortgage interest paid as long as the mortgage is secured by the property and the total mortgage amounts are $1,000,000 or less.
You can also deduct the property taxes paid on all owned real estate as long as the tax is based upon the value of the home. Some countries levy an occupancy tax that is only loosely coupled to the value of the home. Those are NOT deductible as property taxes. A good example of that is ';Rates'; charged by the local Councils in the UK.Can we claim tax in US, if we buy house outside US?
Can you claim what?firewall
If you own a primary or second residence anywhere in the world, you can deduct the mortgage interest paid as long as the mortgage is secured by the property and the total mortgage amounts are $1,000,000 or less.
You can also deduct the property taxes paid on all owned real estate as long as the tax is based upon the value of the home. Some countries levy an occupancy tax that is only loosely coupled to the value of the home. Those are NOT deductible as property taxes. A good example of that is ';Rates'; charged by the local Councils in the UK.Can we claim tax in US, if we buy house outside US?
Can you claim what?
I'm lived at Denver, Colorado and I also owned my house, and I want to buy house at Orange, California as ?
investment. I have heard someone told me that my tax will be higher more than in Colorado. Is it true? ThankI'm lived at Denver, Colorado and I also owned my house, and I want to buy house at Orange, California as ?
I can't speak for Orange County, but in LA county (the one next door) real estate taxes are 1.25% of the purchase price of the home. So a $500K home would come with a yearly tax bill of about $6250 or about $500 a month just in taxes!
I have lived here for 2 years and was horrified at home prices and at the tax rates when we first arrived. Home prices are coming down it's true, but really do your research before you purchase here.
You should be able to access tax and sale information from the site I have referenced below. I say you should as you need a specific address in orange county and I don't have one. This site should give you information about when a home was sold last and for what amount as well as the taxes that are due / were paid on the property. Those tax amounts and the last sale date should give you the tax rate if it isn't listed elsewhere on the site.
Good Luck!
I can't speak for Orange County, but in LA county (the one next door) real estate taxes are 1.25% of the purchase price of the home. So a $500K home would come with a yearly tax bill of about $6250 or about $500 a month just in taxes!
I have lived here for 2 years and was horrified at home prices and at the tax rates when we first arrived. Home prices are coming down it's true, but really do your research before you purchase here.
You should be able to access tax and sale information from the site I have referenced below. I say you should as you need a specific address in orange county and I don't have one. This site should give you information about when a home was sold last and for what amount as well as the taxes that are due / were paid on the property. Those tax amounts and the last sale date should give you the tax rate if it isn't listed elsewhere on the site.
Good Luck!
Buy house in uk is correct time?
i am looking for house to buy. is it correct time to buy.bez of cridit crunch?Buy house in uk is correct time?
yes!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Buy house in uk is correct time?
Well yes and no really, it depends on if you have the money for it and your bills will be different and stuff. If you really need to move then you should go a head and do it. but if you don't really have the money and get afford it then stay as you are. Life might get bad or good for you.
Good Luck, x
Prices are down so yes and bargains are to be had, but securing mortgages is much harder with higher rates, so I gather if you're cash customer it's a great time although prices will go down a bit more yet, otherwise it could be a bit of a gamble
Buy one in Bulgaria or Spain.
yes!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Buy house in uk is correct time?
Well yes and no really, it depends on if you have the money for it and your bills will be different and stuff. If you really need to move then you should go a head and do it. but if you don't really have the money and get afford it then stay as you are. Life might get bad or good for you.
Good Luck, x
Prices are down so yes and bargains are to be had, but securing mortgages is much harder with higher rates, so I gather if you're cash customer it's a great time although prices will go down a bit more yet, otherwise it could be a bit of a gamble
Buy one in Bulgaria or Spain.
Plz i want buy house in jacksonville but i want the tax be not big just little?
plz can somone help me ho live in jacksonville and know about tax and thanks so muchPlz i want buy house in jacksonville but i want the tax be not big just little?
that is a first for me. The taxes are
usually 1% of the assessed value
of a home. IF you want to know the
exact amount of taxes a property
';generates';, contact the
tax accessor or treasurer of your county.
Also, in some cases, the taxes
can be reduced if you show why
they should be lower.
Since, by the way, taxes are based on the value of the home, why not buy
a very small [inexpensive] home?Plz i want buy house in jacksonville but i want the tax be not big just little?
Look to see if your local tax office has tax information on line. Different towns may have different taxing districts, i.e. the tax schedule in Jacksonville may be different than Atlantic Beach, so check that out.
Some areas tax on a percentage of the sales price of the home, some on tax assessed value, I'm sure there are other scenarios out there.
The only way you are going to get low prop tax is if the place is a dump and you pay very little for it.
that is a first for me. The taxes are
usually 1% of the assessed value
of a home. IF you want to know the
exact amount of taxes a property
';generates';, contact the
tax accessor or treasurer of your county.
Also, in some cases, the taxes
can be reduced if you show why
they should be lower.
Since, by the way, taxes are based on the value of the home, why not buy
a very small [inexpensive] home?Plz i want buy house in jacksonville but i want the tax be not big just little?
Look to see if your local tax office has tax information on line. Different towns may have different taxing districts, i.e. the tax schedule in Jacksonville may be different than Atlantic Beach, so check that out.
Some areas tax on a percentage of the sales price of the home, some on tax assessed value, I'm sure there are other scenarios out there.
The only way you are going to get low prop tax is if the place is a dump and you pay very little for it.
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