OfflineHow do I get corporation to pay off $15,000 water lien when they're asking that purchaser pay it? Clarification: I don't have $15,000, I have enough money to buy (if I were to purchase) and go to closing. Or should I walk away from this property?
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Did you already offer on the property? Did you ask that they pay as part of the offer? We could use a little more info...
Dawn
Life's a Dance you learn as you go...GET HAPPY FEET!
"Most of the important things in the world have been accomplished by people who have kept on trying when there seemed no hope at all." ~Dale Carnegie
I have not made it yet. I'm considering purchasing the property, but it's listed in the property's notes that purchaser pays $15,000 water lien. The REO is owned by a corporation and they're selling the house for under $5000.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Put an offer in for slightly more something like 10K with provisions that they pay for the bill.
Yuri
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
what's the property worth. If there is room to work the lein in the asking price. Say if the reo is worth 60,000 and they are asking five plus the 15,000. Make your offer work for you. Offer them a higher offer, of course this is factoring all other expenses. Have the seller give back the 15,000 you backed in the purchase price. Then you are not coming out pocket up front. Or ask them to split the cost of the lein and do it the same way. This would work if you are looking to do a double closing or assignment with the property. Just an idea! Continued success...........Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Yuri
I guess I haven't done all my hmwk, I don't know what the FMV for the property is and I have limited funds (less than $9000) to purchase and can't qualify for a loan. I'm just wanting something I can pay Cash offer on. But I also found out this morning that that property is already under contract from another local Realtor.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
This is why I'm asking is this an assigment deal or are you looking to own. If your looking to flip or assign. Then you could get funding for one day like coastal funding offers just for the closing if you ar assigning it then you don't need additional funds or your funds for that matter. As far as the other offer you don't know what phase it's in. All offers have to be presented to the seller. At that price they could have a lower offer in. So if there is room based on the FMV. What condition is the home in? Does it need repairs too? Make the offer beneficial to the seller. This could be a way for the seller to go with your offer. Just an idea. Hope this helps. Continued success...Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
I'm looking for a property as owner occupant to get my start in REI. Homes in the West End of Atl Metro need extensive repairs, some of them any ways, they been strip of their contents.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
I believe it is a great idea for you to find a home and start out in REI as an owner occupant. You may be able to find a home or duplex and build a little equity. Then you can look into a HELOC or a refinance to have more cash to work with.
As you look at properties, today, look into all the incentives offered in your local area. Some banks may offer special financing in certain communities. Some builders may need to liqudate inventory and offer great incentives or now money down for owner occupied properties. You may qualify for a FHA or VA loan. So shop around know what programs are available and find that home. Good luck with REI. Believe and Achieve!
- Joe
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that's the thing I can't even qualify to use my VA loan benefits. I don't have the necessary credit score needed to do so. I also don't have a job. I just have money I've gotten, back paid from VA C&P claim that, I am wanting to use to get my foot back in door of home ownership. I lost my first home to foreclosure. So I'm trying hard to figure out how to get an offer do without involving any outside financing.
As you look at properties, today, look into all the incentives offered in your local area. Some banks may offer special financing in certain communities. Some builders may need to liqudate inventory and offer great incentives or now money down for owner occupied properties. You may qualify for a FHA or VA loan. So shop around know what programs are available and find that home. Good luck with REI. Believe and Achieve!
- Joe
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Looks like you are in the same boat as I am. Why don't you try to find properties and assign them?
Yuri
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
what assigning is and I don't want to waste available time and resources hunting down properties for someone else other than myself. My main priority will be finding a perm. residence for me and son to call home. Plus Atl is a big metropolis.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Assigning will help you get some money in your pocket so when you do find a killer deal for a primary residence, you can pay cash for it.
If you have Dean's books, you should read up on it. You can make 5-10K from assigning deals.
I think it is something for you to look into.
Yuri
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --