27K seems steep to me. There has to be a good reason why it fell out of escrow. Just remember if the appraisal doesn't come up to your offered price then the seller doesn't have to sell it and you'll be out of your appraisal cost and inspection fee. That equate to about $850 from your pocket. Smart agent should give you comparable market analysis before you make offer above list price. The comps have to support the sale price. If not then the property will not appraise at your offered price. Best of Luck!
As long as you qualify for 2nd home financing. Please remember there is commission, closing cost, transfer tax, title fee, escrow fee involved in selling your home and buying the other involves loan fee, title, escrow as well. If there is net profit, you also may have to pay a capital gain tax. On top of that if it's an FHA loan then you have to sell your present home to qualify for another FHA loan and same applies to VA loan as well. I hope this answer your question.
Any attached items needs to be permanently attached to the property to be a real property. Such as built in cabinets, fancy sinks, vanity, lights etc. If in doubt write in the offer/listing agreement whether it's staying or going.
If you have a realtor who does his homework, he/she should be able to find out from escrow/title simply by calling them and escrow will send him/her a copy of all liens on the property. Normally, the seller should be paying off all liens through escrow from their proceeds. If the seller's not willing to pay the liens then he can never sell the house without agreeing to pay the liens through escrow. So one way or the other the liens need to be paid off prior to close of escrow.
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Rent to own depends on the terms. Proper term is lease to own, where sale price is predetermined during the negotiation/initiation period. Then part of the your monthly rent, say about 10% apply towards the down payment of the home and then you exercise your option to purchase in 2-4 years. Positive: price is predetermined, Negative: Predetermined price maybe higher than the market value. There maybe initial small down payment requirement as well. maybe $2000-$4000 dollars. If option is not exercised, then you can loose your amount. Overall, it's all in the terms and how you negotiate. Please consult an experienced Realtor to assist you out. I hope this helps.
Get with a knowledgeable Realtor who can connect you with a good title company that can run a property profile on the address and find out if there is any lien or back taxes. If nothing shows up then you may have to run a preliminary title report to see all the liens on the property. It's a very simple process. But you have to go with someone knowledgeable to assist you out. You can go to county Assessor's website to see if the taxes are current but may not be able to provide the complete picture. It's much better to run the title search, at least property profile and preliminary title report. Sometime, if nothing shows up, then title needs to be searched more throughly and then you may have to pay some fee. Again, experienced Realtor makes all the difference. I hope this helps.
Property is already sold on Dec. 17th 2013 for $405,000.
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