Real Estate

They asked that, I said that’s personal and not part of the house I have for sale. Can they find out how much I owe on this house?
Thx, Teran – that’s the type of info. I need. Appreciate it.
Thx for the additional info. All great advice and information. Thx. for taking the time to answer.

As an investor, I always ask what the notes are (including taxes and insurance) and what the outstanding mortgage balance is. If the seller is unwilling to divulge this information, it’s obvious that this is NOT a motivated seller and I’m on the phone with someone who is not a prospective client.

I make at least two offers on a property. One, an all cash offer won’t be affected by the balance or the note, because it’ll be 70% of Full Market Value (FMV) minus the repairs. If you owe more than that, you probably won’t sell it to me (some do, however to avoid foreclosure).

I’ll make you a FULL PRICE offer if you’ll keep your existing financing in place while I get one of my buyers qualified to refinance and cash you out. In that case I need to know the monthly payment in order to see if I can even get enough from my buyer monthly to cover the note. ARMs and other bad loans make that difficult sometimes. In those cases the seller may be willing to continue paying a portion of the payment until the refinance occurs. They’d prefer to pay $500/ mo instead of the $1800/mo they now pay.

It always depends on the seller’s motivations.

HTH

What I would pay for a monthy RENT or how much the house actually cost (which probably would be too good to be true).

http://realestate.yahoo.com/California/Orange/Homes_for_sale/1e44671ef0bb81c897413553cefe31e1;_ylt=ArB2QXAuGCAD7QCJLSl0th_nMrQs?cc=realestate&p=Orange,%20CA&priceHigh=370000&priceLow=0&nodeId=750007014&sortBy=price%202&radius=&bedrooms=&bathrooms=&type=classified&b=51&redir=1

I was searching for homes for sale (not rent) and this is one of the listings that came up. Can someone please help me understand…

I think someone entered the data wrong into the database. They probably left off 2 zeros (thinking they were "cents"). $350,000 is probably the actual price.

As for the rest of the web page — that is all automatic HTML or PHP code that calculates the rest of the (very low) numbers.

.

Please separate list by city, new home builder, real estate and mortgage company. Ideally, would like name, address, phone number and website. But, I would be satisfied with just names. thx

List of builders:
http://www.americanhomeguides.com/buildersearch/Ohio/

Local lenders:
http://mortgages.interest.com/content/lenders/index.asp

Real estate agencies: (keep in mind these are advertised site, so you might need to check out a few to get a more completed list)
http://realestateagencies.net/search/
http://www.relo-experts.com/
http://www.realestateagent.com/directory/

how do i go about doing it.PLEASE HELP

You haven’t given us alot of information on what style of investing or ownership your interested in.

You could go with buying multi-family properties and landlording to obtain some valuable experience in that arena. That could be done with zero money down if you decided to also live in one of the apartments. This would allow you to build equity and cash flow to move onto larger projects.

There are many other ways to be an investor, this was just one example.

I know right now is a bad time for the price of a house, but does anybody know what city (cities) give the best return when buying a house in a normal market?

san francisco

i want to switch agents without getting sued

You have a contract with them. The terms cannot be changed except by mutual consent until the contract expires. Unless they release you from the contract, you have to pay them the commission the sale regardless of how the house is sold.

So Yes, you can get a new agent but you would then have to pay commission to both agents. Even if you sell it without an agent you have to pay commission.

i know to you that it may sound like a stupid question but i just realized that i wanna be a real estate agent . im trying to learn every thing i can about realestate while im still in my teenage years thanx

Not a stupid question at all. Yes, in many states the broker can act as a buyer or seller’s agent. In fact, think of a broker as being qualified by the state to represent clients on the purchase and the sale of property along with the ability to also manage other agents and review contracts.

I was researching taxes on a property in Texas, much to my amazement, I ran along a property that doesn’t have title or anyone paying taxes (I couldn’t believe that someone at the tax office missed this one) but I need some direction. Does someone know realestate law in Texas? How do I get title to the property? Thanks in advance.

The better odds are that SOMEBODY has title to the lot. You would have to do a title and chain of title search (not clear above that you did one). It is probably "part" of another tract of property. My money would be on the idea that the tax department overlooked it and some individual is benefiting by not being billed.

You could become an assistant to an agent. Agents are independant contractors, and are therefore not employess that recive standard paychecks. I’m sure your broker wouldn’t mind holding you commission checks and cutting them up weekly. I know I wouldn’t mind. I’d happily put your earnings into an intrest bearing accout and cut you a draft from it every week. You make what money you earn, you are after all a sales person. Try stepping up your selling a bit, you’ll get morre that way than you can on any weekly pay job. Or maybe just find a diffrent career.

Alright, well my mom and I are thinking of moving to Palmdale but we can’t exactly afford a full priced home. So what I did was check the listings of foreclosed home. Now it says the loan balance is like 3,000 on average. Now on this page http://realestate.yahoo.com/California/Palmdale/Homes_for_sale/0dac4c81272c5cd9bcb396cce3090835;_ylt=AtW9lg8TWCjWcyS4ExQmn_LnMrQs?cc=realestate&p=Palmdale,%20CA&priceHigh=&priceLow=&nodeId=750007014&radius=&bedrooms=2&bedrooms=3&bedrooms=4&bedrooms=5&bathrooms=2.0&bathrooms=2.5&bathrooms=3.0&bathrooms=3.5&bathrooms=4.0&type=foreclosure&sortBy=price+1
it says the loan balance is $2238 but it also says the amount is $2238. So is that the price or what? Thanks in advance.

No, of course that’s not the price. What you are seeing is the amount of money which the current homeowner is in default on the loan. Assuming that this property is eventually fully foreclosed upon, the bank will offer it for sale at the current market value for the property. What they will accept to sell it may not be market value, but it will be FAR more than $2238.