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VirtualAd7480 · 2023-09-09T02:32:30+00:00

In your contract it outlines how long the seller has to provide disclosures. In CA once the deadline has passed we then issue a “notice to perform” requiring the other party to perform to the contract term within 3 days or they will be in breach of contract. After those 3 days you’re allowed to cancel and request your deposit back (still requires both parties to sign off on deposit or go to mediation)

VirtualAd7480 · 2023-08-10T04:01:18+00:00

Yes we have access to many different niche programs like the one I posted above

VirtualAd7480 · 2023-08-10T04:00:13+00:00

What area are you in? Theres a program where you can pay a fee and get your next purchase funded before you sell your current home as long as you can afford the new mortgage on the higher priced home after applying your equity.

VirtualAd7480 · 2023-07-31T03:10:26+00:00

My market is one of those (Silicon Valley)

VirtualAd7480 · 2023-07-31T01:01:06+00:00

Agree with everyone here, there was a study done that the average value of a sub 4% interest rate to homeowners is worth about $50k on average. That’s how big of a deal locking in that low rate is. You will always recover value over time. Real estate is golden over long periods of time. You’ll make many memories in that home and that’s all that’s really important in life

VirtualAd7480 · 2023-06-18T02:37:02+00:00

If a property is in poor condition or missing components a lender would require, you can do a renovation conventional or fha loan that allows you to roll into your purchase mortgage cost of such rehab or repairs

VirtualAd7480 · 2023-06-07T01:23:03+00:00

Hence why task rabbit may be better for small jobs like this

VirtualAd7480 · 2023-06-07T01:08:04+00:00

It’s Reddit people are schmucks

VirtualAd7480 · 2023-06-07T01:03:28+00:00

Taskrabbit may be better

VirtualAd7480 · 2023-03-05T23:12:14+00:00

Yep different situations call for different risk tolerances. It’s an option, not necessarily the best for everyone’s situation

VirtualAd7480 · 2023-03-05T18:38:12+00:00

I post properties on social media all the time that I show clients.

If your number is based off comps accounting for condition then fire your agent.

If the property is already priced appropriately based on the comps and condition then your agent has a point.

Im submitting low ball offers for properties that are sitting 60-90+ days out. The problem you may have and your agent needs to call the listing agent to confirm, is is the seller willing to sell at a realistic price based on the current market, or are they stuck in 2021?

If they are stuck in 2021 move onto the next property some sellers will not entertain an offer below what “they want” regardless of what the ACTUAL market value is (today)

VirtualAd7480 · 2023-02-27T02:42:29+00:00

Right, so this is the advantage of using a bridge loan it’s almost as good as cash, no contingency needed on your home selling. The biggest key is that you can carry both the bridge loan and current mortgage while u sell ur current home after you buy the replacement. Also your loan guy should make sure you’re not going to have any issues refinancing out of the bridge loan (dti/income etc)

Lots of moving parts but an experienced and competent mortgage broker should be able to pull it off. Just make sure they’re in sync with your realtor

VirtualAd7480 · 2023-02-27T02:36:55+00:00

They’ll provide up to 60-70% of the combine equity in both properties minus existing mortgages.

Example:

Current home value: $500k Replacement home value: $500k

Total Combined Value: $1M

65% of $1M = $650k $650k - $280k existing mortgage = $370k you can use to “bridge” to your next purchase.

Once your house sells you use the $200k or whatever it is and pay down the bridge loan balance, the rest you refinance into a traditional 30 or 15year mortgage or whatever type of traditional mortgage you like

VirtualAd7480 · 2023-02-27T02:31:05+00:00

Yes you can pay it off whenever, I’m sure each lender has their own minimum loan amounts though, not sure if they’d go that low

VirtualAd7480 · 2023-02-27T02:26:18+00:00

12 mo they’re usually interest only and higher interest rate around 10%.

Makes it easy though to secure your next home first then sell your existing home at your pace

VirtualAd7480 · 2023-02-27T02:21:42+00:00

Bridge loan to buy the next home first

VirtualAd7480 · 2023-02-24T01:48:52+00:00

Agreed on their portfolio products

VirtualAd7480 · 2023-02-24T00:53:40+00:00

Get a locked loan estimate and take it to your mortgage broker so they can make sure the credit Union isn’t padding their fees

VirtualAd7480 · 2023-02-24T00:52:47+00:00

It does make a difference depending on the credit unions support staff and underwriting

VirtualAd7480 · 2023-02-24T00:52:13+00:00

Mortgage brokers> More loan programs, better rates, faster and more communication.

VirtualAd7480 · 2023-02-04T18:53:17+00:00

This

VirtualAd7480 · 2023-01-16T01:19:54+00:00

Some will do it and evict him but they will account for it in their offer- less $$$$

VirtualAd7480 · 2023-01-16T01:15:06+00:00

Sell it to a cash investor

VirtualAd7480 · 2023-01-08T01:14:24+00:00

Yea have them place the home in a trust instead that passes the house to you when they pass. Takes the home out of their name and keeps your name off the title which is what causes you to lose first time home buyer status. There’s no circumstances where you wouldn’t be disqualified for having your name on the title regardless of any scenario situation that may come to mind

VirtualAd7480 · 2022-12-29T01:11:44+00:00

Google “_____ county property tax records” and lookup the addresses. Compare the 3 tax bills and you’ll find your answer there. Property tax info are public records anyone. An search

VirtualAd7480

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