All Forum Posts by: Lisa Mauritis

THANKS SO MUCH FOR THE INFO!

Hi,

I have 4 condos that are completely paid off.  I would like to buy another larger property and pull the equity out of the 4 condos (which are all rented).  How can I find a lender in West Palm Beach, florida who will give me a good interest rate?

@Eric Jacobs Hello, I am looking for an attorney that can assist me in giving a perspective buyer for my property a first mortgage.  Can you help?

@John Thedford thanks for all the info. The HELOC is on another property that I own. I will connect with an attorney.

Thanks so much for the help @John Thedford. Can you please tell me if I should use a realestate attorney? Can I also use a loan originator? Also, I have another questions; the perspective buyer would like a mortgage of approximately $40,000 for 3 - 4 years. I currently have a HELOC and am paying 4.5%. How much interest do you think I should charge the perspective buyer. Should I charge him anything else? Who pays for the attorney? Can you recommend an attorney in the Fort Lauderdale area? Thanks in advance for all your help!!!

I am selling a condo.  So that I can compete with the other condos on the market, I would like to give a mortgage to a perspective buyer.  The condo is located in Deerfield Beach in Florida (close to Fort Lauderdale).  Can somebody please tell me how I put together this 1st mortgage?  How do I figure out the terms, ie interest rate, time, etc.  Thanks so much!

@Alex Deacon  thanks!

@Brian Pulaski Actually, we are still in negotiations.  He is a tough negotiator.

@Alex Deacon  this is a motivated seller.  He has had his property on the market for over 6 months and vacant.   He indicated that he would like to close the deal immediately (I guess so he stops losing $500+ per month in carrying costs).  I don't quite understand the scenario where the 'buyer must use the seller's title company so that the title company costs are covered for the buyer'.  This was a clause that I came across a lot when I put in a lot of offers.  

Can you please elaborate on this?

Hey Guys,

Can anyone help me? 

I am just about to buy an investment property.  Because the seller greatly over paid the property years ago, he is not being very negotiable even though I am coming in with a cash offer and no contingencies.  Because of this, I was wondering if I can get the seller to use his title company and cover my closing costs as a way of reducing the cost of the property.   

When I first started making offers on property in south Florida, REO's (bank owned properties) it seemed to be customary for the seller to want me to use their Title Company and they would cover the cost.

My question is, is it possible to set up the same scenario with the seller that I am currently dealing with on this investment property (no realtors involved).  If so, how would I approach this with the seller?