All Posts Tagged With: "owner"
What’s A Private Transfer Fee In Real Estate?
Usually when we think of a real estate sale we think that the interest of the seller ends with closing. It is, after all, called “closing” for a reason.
Now, however, some sellers are trying to maintain a financial interest in a property for decades after it’s been sold, not with a mortgage or a loan [...]
How Come My Broker Wants Me To Leave My Open House?
Question: My real estate broker wants to hold an open house – and wants me to leave! What’s up with this? Who knows more about the house than the owners?
Answer: There’s little doubt that owners are the world’s leading authority on the in and outs of their homes. But the real question ought to be: [...]
Can You Refinance Your Loan Under The Obama Mortgage Relief Plan?
The 2009 Obama foreclosure relief plan has two parts, first there is modification help for those who face foreclosure and, second, there is also a refinancing program for those with loans which are no longer affordable.
Under the details of the plan we can see how the refinancing program works, who qualifies and who does not.
In [...]
How To Get A Successful Loan Modification (With Obama Update)
Is it possible to get a mortgage modification without being foreclosed or behind on your payments? For an increasing number of borrowers the answer is “yes” because recent changes in the mortgage industry now make loan modifications more likely than at any point since the financial meltdown began.
For much of human history mortgage lenders have [...]
Must My Landlord Repair A Hot Water Heater?
Question: I have been renting a house that prior to my move in had major water damage to the basement and ruined the water heater. It has been fixed to the point where it will work, but causes a horrible smell throughout the house if left on. Therefore I only turn it on [...]
1Nov2008 | Peter G. Miller | 0 comments | Continued
Can we use private financing to buy real estate?
In theory, yes. In practice, few homes are financed with loans from sellers or other individuals.
In 2006, according to the National Association of Realtors, 98 percent of first-time buyers and 91 percent of all purchasers required financing. These numbers suggest that very few buyers have friends, relatives, or other parties who would have [...]
What are the pros and cons of owner financing?
There are several potential pros and cons for sellers, at least.
You will get a steady monthly income.
You won’t have to worry about the buyer qualifying for financing, or as much financing.
Tax obligations may be stretched out in certain cases — see a tax pro for details.
But, it could also happen [...]
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