The buyers of my FSBO home want to switch from a conventional to a FHA loan?
928996
Sounds to me like they are playing games with the mortgage industry.\n\nIf I were in your shoes I would be leery also.  \n\nThe biggest drawback of FHA is that your home may not pass their inspection and you could be forced into making improvements that you do not want to pay for.\n\nHow desperate are you to sell?   I would definitely question the inflated sales price (btw, you do realize this will effect the amount of transfer tax you pay, title insurance, etc. etc.).  If the purchase agreement states conventional mortgage and that is not what they are getting they are in breach and you should be able to terminate the contract.\n\nAs always, go see a lawyer to make sure of your legal obligations and rights.
173305
It works pretty much the same way as if you're buying from a private party. My husband and I went through a relocation program when we sold our home. Basically, we technically sold the house to the relo company and then they sell it. But that's just technicallity..we were still involved. My husband and I OKed or turned down offers (with input from our relo person). Relo companies will not ask for more than the house is worth, but they do turn down some buyers that don't qualify for a loan (or something like that). If you're going through a reputable bank for your loan, you shouldn't have a problem.\n\nAlso your first answerer is right. The realtor for the relo company is paid lower than usual. How this affects the you, the buyer, who knows. :-)\n\nAnother thing, buying a house from a relo company will usually be faster. They are on a strict timeline, so this may be a plus for you (or not).
1122274
I work with lenders nationwide that will do a 6-unit complex and will fund conforming or conventional on this type of property. Please feel free to e-mail me with more information and property location
208102
Put an add in the paper.  Maybe try to offer something that other sites don't...  This one is a long shot but you could call people who are listing their home FSBO in the paper and call them and offer your services.  Plus, it would help if you spend some money advertising your website so the owner knows that it's to their advantage to use your services.
441241
Okay here we go.\n\nA 1031 exchange is a method of selling one house and buying another without being subject to taxes typically imposed.  It appears your buyer is in such a situation.  When he sells his property the proceeds go directly to the Exchange Company.  When his purchase of your home is to close the Exchange company uses these funds for his down payment.  The closing statement will actually show the exchange company as the buyer.  This is not a concern for you.  \n\nGenerally this purchasing method is used when a buyer is a real estate investor and he is exchanging one rental property for a new rental property.  Again, this is an outside issue and should not impact the sale of the home or hinder the proceeds you receive.\n\nRead the contract thoroughly.  If necessary have it reviewed by an attorney.  Based on what you have said it does not appear your interest in the property will be comprised.\n\nIf you have any-other questions feel free to contact me and if I know the answer I'd be happy to help.
1095853
Part of the trouble could be did the real estate agent just toss a sign in front or is the agent actually showing the home.\nIf the sign or a few listings on the internet is all he is doing than change agents when you legally can or tell this agent to start marketing your home the way he should be - after all the more he shows it the better your chance is.\nNow, if he is showing it - what are the buyers like. Is he getting anyone to fill out a mortgage application, are the prospective buyers credit worthless?\nIf the buyers are decent credit wise and they want to buy the house maybe the problem falls with the mortgage broker. Being in the mortgage business I can tell you that the mortgage application of your buyer is only as good as the broker is submitting it - if he doesn't want  to work and sell the application to underwriting it just will not work.
1072256
The answer is yes you can BUT the reality is that it is hard to find a lender that will refinance your loan knowing that at any minute your home could be sold and they will waiste their time and money. Most lenders will ask you to take the home off the market before you can refinance.\n\nGood luck!
339663
As long as you are genuinely seeking to start your search over, and not purchase a home the agent has brought to your attention it should not be an issue.\n\nA simple written request will satisfy the termination clause in the Exclusive Buyer Brokerage agreement, used in the State of Florida, that I use with my clients.\n\nYour state may be different, and you may want to speak with an attorney.\n\nHowever, as a Realtor, I would much rather be told that a client wants a change. This frees up time for other clients, with whom I may have a better relationship.
115813
Call or write to your lender as soon as possible. Clearly explain the situation and be prepared to provide him or her with financial information. \n\nFor FHA Loans: Contact a HUD-approved housing counseling agency (1-800-569-4287 or TDD: 1-800-877-8339).  \n\nIf you are having difficulty with an uncooperative lender, call the FHA Loss Mitigation Center at 1-888-297-8685 for additional help.\n\nFor conventional loans:  Talk to your lender about specific loss mitigation options. Work directly with him or her to request a "workout packet." It may be that your loan was purchased by a secondary lender such as Freddie Mac or Fannie Mae.  Fannie & Freddie require that mortgage servicers to explore workout options with you.  \n\nIt's important to remember a few helpful hints: \n\nExplore every reasonable alternative to avoid losing your home, but beware of scams. For example, watch out for: \n\nEquity skimming: a buyer offers to repay the mortgage or sell the property if you sign over the deed and move out.\n\nPhony counseling agencies: offer counseling for a fee when it is often given at no charge. \n\nDon't sign anything you don't understand.\n\nBest wishes to you and your son.
484113
If your looking to refinance your home, I'm sure I can help you with that...I'm a mortgage consultant for Aapex Mortgage and we work with over 250 lenders, so I feel that we can find a solution to your issue. I'd like to discuss this further to see what you can qualify for? My e-mail is Alisosa83@yahoo.com
171536
This is a tough one, but here is a suggestion.\n\nFirst I assume the owner has a loan that has a due on sale clause and cannot be assumed. Try these first if possible.\n\nNext thing if you work at it you can do this. It might be a long shot with each person, but you will eventually find someone willing. You need an investor. This isn’t something like finding one in a thousand like it might seem. A lot of people, at least 1 in 10 or 20 invest in real estate. So every community has a lot of investors. You are going to set up a deal that is too good for them to pass up and then show it to 25 people and one of them will go for it. Put an ad in the paper in the investor section something like invest in this lucrative real estate deal and you will have your phone ringing off the hook of people to try it out on.\n\nHere is what you want to happen. They will buy the house from the current owner, and they will lease option the house to you. Since the market is poor in that area you should be able to get a good deal. Keep in mind the reason they offered it to you first is so they can sell it for more than it is worth and avoid a commission on top of that. So any price they offer you will likely be way more than they need. Unless you are dealing with abnormally nice and fair people. \n\nSo lets assume the house is worth 90k to 100k for the illustration here. The range is if you want to sell it quick or let it sit a while on the market. Although the range might be larger the way you describe the area. My guess is the 18 months on the market is one house with a problem that the stubborn owner denies.\n\nFirst you need to be able to negotiate with the current owner. They can sell the house fast with an agent for 90k, of which 82k is what they get, 5400 commission plus 2600 taxes and closing fees. So you can offer 90k-5400 and it will be the same for them. They have to realize this is true so take time to explain it. If they agree that they would sell it for that then you would do best to put an offer in writing and write in the buyer as “your name and/or assigns”. The “and/or assigns” means you can assign the contract to someone else. The investor you will now search for. \n\nYou will need more time than average to close, which might trouble them(might need to raise the price a bit). Or, you may need to add something in the contract like this contract is void if the owner happens to find another buyer willing to pay at least $90k. This way they can still try to sell it while you put the deal together. They will get to keep your earnest money as well if you fail to buy the house, so put as little as they will take, but it does need to be at least $100 or so to be considered a legal contract. You might also add something like more earnest money, to the tune of $100 will be handed over each month to keep the contract good for up to 90 or even 120 days if they will go for it.\n\nNow you will try and find an investor. It has to be a good deal for them and of course you would like it to be a good one for you. Part of your pitch will be that you are trying to split the good fortune and that since you “found” the deal you want some of it. So they are going to buy the house for the contract price you negotiated of 84600. Then simultaneously lease option it to you to buy it for 100000 in three years, or however long you think it will take you to save up enough money and build up your good credit to buy a house. Presumably the house will be worth more than 100000 or you need to lower your price. Be sure this option contract gets recorded along with the other papers.\n\nThe lease part of a lease option works like this. You rent it for say 800 a month now, assuming this is market rent you will start renting it for 900 a month and 300 of that goes towards your down payment (all negotiable of course). So if you end up buying it you only pay 600 a month rent. If not then you paid 900. Good for both sides. You will also agree to handle all rep
500285
Go to www.realtor.com \n\nthey have a mortgage calculator. you can change the price of the house, the down payment, and the interest rate.
339992
I have never done it before but when I spoke with my Realtor, he suggested the below website.\nHope this helps..
778734
You had your sellers sign the counter?  That ties the house up.  If you get a better offer, you need to hurry up and withdraw your counter.  If you get another offer that's worth responding to, but not accepting, then you're in a pickle.\n\nI think they'll think on it a while, then sign it.
748092
Check with your current mortgage company, or with the new mortgage company.  See if they offer the bridge loans.  You could also ask your realtor, if there is one involved in your transaction.  To find a lender, if you haven't already, try a yellow book listing, and call and interview a couple companies to find out the terms that are available for you.  Good luck!
99225
Actually, I think there are a few points to this question. First, what did YOU do to prequalify them to purchase the house in the first place?  Many LO landlords really don't care if the renter ever buys, they keep the LO money and either let the tennants go month to month, or let them move on.  So, assuming you want to sell the house, do a better job upfront of finding tennant buyers.  Pre qualify them.  1. Do they have all of the option consideration money upfront, with no payments (this means they have a lump sum or were able to save the money).  2. Does their current employment make it so they are able to make the payments on the house comfortably.  You can look at their income, and their outgo, and compare it like a lender does (that is what I do).  THey should not spend over 41% of their monthly income for, all items on the credit report, monthly payments, the principle and interest and taxes and insurance on the house. IF it is obvious they will be short...you probably want to look for the next buyer. But finally, if they will be renters until they exercise their option contract, do a smart upfront check on them as renters. First, do a criminal check on them, if they pass that, then look into the other items such as credit and references. If you find someone you like, then go to their neighborhood, drive it, and then call and ask if you can stop in.  If they are happy to let you come see them in their current home, you will get a feel for  how well they are going to take care of your property.  Due Diligence is important. Im not a lawyer, and if any of this info is wrong, it is simply my opinion.
409633
Go around to all the fisbo in your town and ask them if you could bring them a buyer that would net them the same, could you list their house. Call all the landlords that are advertising apartments for rent in the newspaper and ask them if they would be willing to cash in on all the hard work they have done on their property. Personal observation will be your number one source of leads.