Buying From An Owner
Buying from an owner without the real estate broker as a middle man has obvious benefits but also some hidden problems. Most of these problems can be dealt with by contracting the services of other professionals or by careful procedures.
Not having a real estate commission to pay eliminates an obvious hurdle to no money down deals but at the expense of loosing the valuable services of a professional. Therefore, much care and planning should go into dotting all the i’s and crossing all the t’s.
When you find a flexible seller who is not using a broker make sure you don’t move too fast. This is easy to do if your inexperienced. Examine the property’s market value, analyze the potential cash flow for rental property and choose the creative financing techniques that will determine the price range.
March 15th, 2008 at 7:09 pm
[…] the seller of the two family property, property “A”, is concerned about not receiving any cash at the time of closing, the […]
March 15th, 2008 at 7:14 pm
[…] The seller might be willing to sell “no money down” and take back a mortgage for the entire equity of a property. However, the seller might be afraid that you will walk away from the property before building up a substantial equity, forcing the resale of the property all over again. If this happens, the seller may be fearful of getting the property back in a condition worse than when it was sold to you. […]
March 15th, 2008 at 7:17 pm
[…] good source for capitol to help a new investor begin can be found in the investor’s own home or investment property. Many lending institutions make loans secured by the equity in your home or […]
March 15th, 2008 at 7:31 pm
[…] to you than the more traditional agents and brokers. Check with your brokers to find out about the commission arrangements for his or her sales […]
March 15th, 2008 at 9:12 pm
[…] Seller to pay all closing cost instead of just part. […]
March 15th, 2008 at 9:21 pm
[…] Foreclosures occur for two reasons: either the owners do not want their properties or they cannot afford them. In some larger metropolitan areas, like New York and Los Angeles, declining neighborhoods have caused some owners to just walk away and abandon their properties. These properties are then repossessed through mortgage or tax foreclosures. The most common reason that properties are lost through foreclosure, though, is that the owner cannot afford the monthly payments because of divorce or loss of employment. […]
July 15th, 2008 at 8:19 pm
[…] are allowing a maximum of 5 to 6 new rental property mortgages yearly. These companies provide low interest rates and quick close available (48 hours) options to the investors. For a reliable and stable financing, […]