Have you had your house listed for sale, and you haven't attracted any buyers? Usually a lease option is when you can't sell your home to regular qualified buyers, and have to resort to buyers who can't qualify for a mortgage. You are taking a big risk by doing this. But if you're desperate to lease the house out, and start getting that rental income, then go for it. Make sure you have a good attorney write up the contract.
Lease option situations are pretty unusual these days, since most areas are seeing a very nice seller's market due to low inventory. Most sellers are able to sell. I assume you're trying this "for sale by owner" (FSBO)? You'll probably be able to sell your home much more quickly and for top dollar by hiring a Realtor.... more
Only an attorney can advise you of your legal rights and whether you have grounds to sue, but they will also likely advise you of the potential position the other side may take, which in this instance is: how much were you actually harmed by having these buyers take the house off the market?
All the best,... more
Fair market value is defined by what a Seller is willing to sell for and what a Buyer is willing to pay for a property. So if the property sold for $310,000 then that was that properties fair market value. If a loan was obtained and an appraisal done then that would support what the seller and buyer had agreed to by way of what was happening in the neighborhood at that time.
If you are looking for what the comps were three years ago then you would have to look at the appraisal to see what the appraiser was taking into consideration at the time.
Are you looking for current value in order to make a comparison? Are you looking to sell your property now? Give me a call and I can help you with that 602-405-8924.... more
You need to start by meeting with a local and trusted loan officer who can prequalify you at no cost and after looking at your credit and financials, let you know if you can get a mortgage and what any costs or requirements will be.... more
Without any other financial information--Why not visit with any qualified loan officer(s) first, see exactly what your budget can handle and check your credit score again--your loan officer may offer tips on how to best improve your score in the shortest amount of time--FHA loans currently require a minimum score of 620 and 3.5% down--there may be some lenders that will work with a lesser score but the interest rate may be higher. In the meantime, work diligently on repairing your credit--dispute old negatives, pay all bills on time, pay off old debt, keep credit cards below 50%, pay down debt, etc.... more
I wouldn't necessarily go back to your servicer. We can do the refi for you without putting any money toward the principal. If you want to pay down the principal you can. If your balance is below 125% of the value, then there are more options, but I would really suggest a thorough analysis of your situation before deciding on the beat plan.
Let me know if you'd like do discuss your particular situation further.
Brian Cardenas, Sr. Mortgage Banker
AmeriFirst Financial, Inc.
Mobile: 480.233.7897... more
This property appears to have an offer. It is a 1 bedroom 1 bath which probably can rent around $450-500. The development looks well taken as it is controlled by an association.
If you are interested I can contact the listing agent and Home Owners Association in the morning to get additional details.
If you are please contact me at the following e-mail: email@example.com.
Milly Sells AZ
Send your old broker an email telling him your not happy and you do not want to work with him. Then contact the listing agent and tell them your intentions. If the house is in good shape I don't see a problem with dual agency. Make sure you get a good inspection if it is not. Are you paying cash or financing?... more
It kind of boils down to what your definition of "good" is.
There are various sites out there where you can search for crime statistics.
You could start here: http://www.thompsonsrealty.com/phoenix-area-crime-statistics/ This is one of my sites where I link to several crime stats sites.
Crime is not the only consideration of course. Quality of schools alos comes immediately to mind (if you have kids).
I also encourage my clients to contact the local Police department (NOT the emergency number, use their regular non-emergency number). They are usually very willing to discuss the local neighborhoods.... more