Doris Wright's Answers
Viewing Answers 1 - 9 of 40
Answered: Mar 21, 2012
In answer to: How do I purchase a foreclosure home?
Everyone here has it covered! Mayfield has a pretty thorough point of sale inspection and they may require you to escrow repair funds. Because of this, a 203k loan is a good option, (unless you have savings to cover repair funds on your own.) If you are prequalified for an FHA loan, you may very well need to apply for the 203k variety if there are point of sale deficiencies. You will also need to find a general contractor to bid the work,Hope that helps!We can help with any of these items, including repairs.
Answered: Feb 20, 2012
In answer to: I own a home and would like to keep it as rental property. How does that interfere with me getting a loan for a second home?
Hello Parthenia!,
It all depends on your equity position, your own financial position, and your lender. Frequently lenders will want to see a year of rental income from the property before allowing you to use the equity from the rental for a down payment on another home. Contact your banker, and let them know what you are proposing to do. They will let you know what their policies are as far as using your rental as collateral. Be prepared to be scrutinized, and expect to have a decent down payment for the new home. Lending for a second home is never cut and dry, but well worth the effort. They like to see the track record. Renting your home should be relatively easy. I tell clients to run a test ad on Craigslist to see what type of response they'll get. Best of luck, it's a great tme to have an investment property!
Answered: Dec 1, 2011
In answer to: Is this property still available. Please respond to marcosipchak@yahoo.com
Hello, Nice updated interior, This home last sold for 120,000 in 2001. We will be showing homes in the area tomorrow, so let us know if you would like to take a tour, Great architecture, and looks like the sellers are using relocation company. Good negotiating here could save you money. Have a nice evening. Doris & Michael Wright
Answered: Nov 15, 2011
In answer to: Is that a 1 car garage?
Just a thought. Don't be discouraged by a 1 car garage. Many times there is enough room to have a driveway go past the home and add a detatched garage, turning the current garage into usable living space. I can't tell from these photos, but it looks like a neighbor was able to do it! Good luck, and remember, if you like the area, you can overcome design flaws. We can help with that!
Answered: Nov 6, 2011
In answer to: want to email the owner of this property for exact price to purchase it this month
This site is generally used for asking realtors for info.....so they may not be keen on skipping a paycheck. With that being said, you can go to a Nexthome office,or google Brokerages that will list your home on the MLS for a flat fee. They will do nothing more than that, so marketing will be up to you. They also may charge additional fees for services, such as writing contracts, creating flyers etc, and in the end it can be more expensive than listing with a more traditional local Brokerage.Words to the wise*** Remember, it can be very dangerous to show your own home, so always have a friend or family member with you. Insist on making a drive by shopper set an appointment. Try selling by owner for 30-60 days, and then if you have no success, get an agent to help you. It will pay off with a higher negotiated sale price, better results in responding to inspection defificncies, and peace of mind in determining a buyer'as ability to be financed. A title company will provide you with the contract and legal paperwork for your state.