how does owner financing work in texas?
352537
owner will aloow you to make payments on house rather then have you bother with going to bank and trying to get loan and paying owner in full. most owners are pretty basic and easy to work with...a hell of alot better then lenders...each owner may have their own criteria's you have to meet so it is best to ask them what the payment plan entails.
906758
Homes in Texas appreciate at a rate of 3%-4% per year.  In Dallas and Fort Worth, homes generally appreciate at a rate of up to 6% per year.  The Scenery Hills addition has some nice homes and is an established neighborhood.  The property values appear to have increased over the last couple of years, or have remained steady, depending on the home.  \n\nIf one purchases a home and years later, he/she has done no updating, doesn't take care of the home, or the location is no longer desirable, then that will certainly affect the value of the home, and in the case of location, might affect the value of every home in the subdivision, depending on what the circumstances are that made the area undesirable.\n\nAs far as markets that are "better off" around Fort Worth, try the City of Mansfield, located in southeast Tarrant County.\n\nI'm confused though, as you first indicated you "just purchased" a home and later indicate that you want to make sure you're "making a correct decision."  If you purchased the home, the decision has already been made, as you now own the home.  If you just submitted an offer to a seller and haven't closed, then you haven't "just purchased" the home. \n\nAnyway, good luck to you!
654250
You have to file it with the State Controllers office and also get a tax ID number.  Then you have to file the information with the Texas Department of Insurance.  TDI requires that the princiapals be licensed agents
303826
Not hard. You dissolve the Corp., which will entail convening the officers. Sell off or distribute all assets between all shareholders.Have a lawyer bless the proceedings. Make sure Secy. documents everything.Have lawyer keep copy. File a copy of this to Tx. Secy. of State (same address you incorporated with).Go to County. File business name. Start over.
1154417
In Texas you can go by the courthouses and get a listing for people who will be coming up at the next foreclosure auction should they not find a solution to their problem beforehand.  Just go by the County Clerk's office and be prepared to pay for copies.\n\nI am sure there is something similar in other states as well.  the best place to find out is the department that handles real estate law for the state.  They will be able to tell you how it is handled.   Also most realtors know the basics of it too.
75266
Depends largely on the state in which this is happening.  In Texas, our real estate contracts spell out that you can lose your earnest money AND be sued for specific performance.  The specific performance on our contract refer to any party backing out, not just the seller.\n\nBear in mind there are things that you can do to get an 'out', but usually these involve option periods, time to finance, etc.\n\nEmail me if you have any further questions.
1045628
Yes. There are tons of options. The best one in my opinion is 100% financing. Contact a local broker who can give you the best rates due to the availability of being qualified with several lenders. They are all competeing for your business.
27328
Try the financing resources at the U.S. Small Business Administration:\n\nhttp://www.sba.gov/financing/
822649
You have to deed the trust to the house. You may need to get permission from the mortgagee bank AND make sure that your TITLE INSURANCE policy still covers you: you probably need to get their written consent also, and perhaps pay them something.\n\nAlso: check on what effect the trust has on your HOMESTEAD RIGHTS in Texas, and on your property taxes.\n\nNormally when a trust deed is written, if it's not to be funded right away a small amount of money -- $1 will do -- is paid in.
705275
You should consult with a loan officer to see what option is best for you. What do they offer in Tex?  Do you mean, what loans are available in Texas?  Or do you mean, what properties are available in Texas?  Let me know and I will provide you with a loan officer's name and number and a list of properties currently for sale.
1169242
That's a tough one, because each county has it's "norm" for who pays what.  In the SF Bay Area, the Buyer pays all the costs of title insurance (owners and lenders) and escrow fee.  In the Sacramento area, the Seller pays the owners title, and usually half the escrow, the Buyer pays the lender's title insurance and half the escrow.   Seller generally pays the County Transfer Tax but some cities charge a Transfer Tax as well and that's usually split between Buyer and Seller.  Southern California is a county by county basis.  \n\nBut remember ... Everthing is negotiable!  Just because it's the norm (there is no "law" stating who pays what!)in that particular county doesn't mean you can't negotiate!\n\nAnd depends on the type of loan program you're using as well.  If you're paying points and extras that brings up your fees.\n\nCall any local escrow/title company and ask them for a quote of fees.  You'll need to give them the sales price (you can make up a general one) and loan amount (ditto) and ask what the Buyer usually pays for in that particular county.\n\nGood luck  :)
1049924
Did you talk to him about financing it, I f he wants you to buy it then maybe he could work something out with the down payment and charge you the current commercial interest rate until you get some equity into it and refinace though a Commercial lender
1114813
In a construction loan, you can use the portion of equity you have in the land towards the total "finished" value. Basically, your down payment is within the land that is already payed off. I specialize in commercial/construction loans if you'd like to see about getting an approval, let me know.\n\nSome basic questions:\n\n-Do you have plans already\n-What is the zoning of the land\n-what are the total construction costs\n-Do you have permits\n-Where is the property located\n-what do you estimate the value (completed) to be\n-Are you and your significant other employed/retired & what income/how long on your jobs\n-is the property in a rural or urban area\n-what is your credit situation\n\nThese questions should be enough to get some accurate figures for you.
895959
1 - Don't have your buyer pay for an inspection prior to winning the bid.  You cannot have the utilities on anyhow until you win the bid and get permission.  If your buyer is going to live in the house (not rent or flip it)  then they can back out if the are getting an FHA loan, and there's a major problem with the roof, foundation, major plumbing or HVAC.  Investors don't get that option.\n2- Put the bid in yourself.  Don't go to the BLB for them to enter it on the computer.  This is a secret bidding procedure.  You don't want the broker representing other buyers knowing what your bid is - you'll lose by $1 every time!!!!\n3- In Texas, I've helped other agents put in HUD bids (as long as I don't have a buyer for the same property).  Contact me if you're in Texas.\n4- I'm not sure in other states, but here, the closing agent is picked by HUD's Marketing company - Southwest Alliance (used to be part of First Preston).  They will do the title search.  The mortgage company would contact them for title commitment.\n5- If you win the bid, then you have 48 hours to get the ORIGINAL paperwork SIGNED IN BLUE INK to them (the website will tell you where your contract has to go).  Include all the pages, plus a lender pre-qual letter (signed by loan officer, buyer and broker), and a copy of the cashier's check.  The check will then go to the actual title company or attorney they've chosen to close the property.
153767
Well you didn’t say what state you live in, but I will tell you what I know about the regulations in California.  For starters if you want to live in one of the units a 1-4 unit bldg. is the best.  A 1-4 unit property can be financed thru conventional or FHA financing.  There are several other benefits and perks that come w/ living in an owner occupied 1-4 unit property.  In California if the property is 16 units or large you must have an onsite property manager.  This can be you, but if the tenets find out you’re the owner, God help you, because you will have NO REST!!!\n\nAnyway, your best bet is to meet w/ a real estate attorney from your area because they will know your states laws.\n\nBest of luck to you.
628821
Yes it will.  The business structure must be set up as owned by a minority.  It really doesn't matter where the funding comes from or who cosigns the loan.
1004504
Start with the Texas Economic Development - A Guide to Texas Business Licenses and Permits http://www.tded.state.tx.us/guide/\n\nOther important government resources include:\n\nTexas Business Portal http://business.texasonline.com/guide/index.jsp\nSecretary of State Business Startup Information http://www.sos.state.tx.us/corp/related.shtml