All Forum Posts by: Lisa Richards

I cant finance it, I need all the money to purchase next home, We are buying much more property, but the home is a double wide 12 years old and once again know one wants to finance that either, see banks just arent lending.

not here anyways florida is hard

Thank you
LadyRichards

Realtor finally called us, we will have a answer from the private Lender buy Friday, so Im keeping my fingers crosed. Everyone thinks pretty sure on this, so Im thinking the same. As far as the banks we can just forget them they arent going to Lend on a Log Cabin, its ashame you put you life into your home and now you cant even sell it. I am just thankful I dont owe on my home, its payed for.

Thank you
LadyRichards

You would think we had more than one log cabing sold in 50 miles, you wouldnt think that they were all cash sales, really upset with the buyers realtor, oh and of course he is now out of town, he was suppose to be checking into all that, I think we are getting the run around, and im not a happy camper.

Thank you
LadyRichards

I know the market is bad but they are getting a good deal and they really want the place bad, we have a beautiful home, we just dont want to be in this area anymore. And acutally 6% from a privat lender I hear is a good rate. And who knows maybe her credit isnt as good as the realtor is saying.

Thank you
LadyRichards

Well its like we all say, welcome to the new economy, I have checked out the local banks they wont loan on a log cabin, im sorry we even built one. And im not sure on how good her credit is either, but she was a deputy Sherif and banks usually make special loans for them, but wanting a comp in 5 miles was unbelivable. Like I say are only shot now is this private lender, and
he is wiling to lending most of her contract price so that is good and she is getting a pretty good rate through him, so Im riding on this and praying.

Are buyers have gone eveywhere and no one is going to touch it, you know its crazy the gov has so much regulations now you cant even sell your home. How is are aconmy going to come back if the banks arent going to loan, and both the buyers we had have excellent credit.

Thank yu
LadyRichards

Well our apprasel came in low so we found comps at that price, the problem is they want a log cabin that has sold in the las year that is a log cabin and with in 20 miles, in fact the last bank wanted one with in 5 miles can even find one in a rule area with in 5 miles, and there arent any log cabins in our area that have sold, the closest one was with in 50 miles of us. We have already gone done a lot in our price due to the market, we arent asking to much but we do have to at least come out with enough to buy the other place we are looking at. Yes its bad they say they will take your comps then they turn you down the day before closing we have all our stuff moved, we are living in a empty house. The bank new from day one that we were having problems with comparables, everything we turned in even the log cabin comps were at the same price range as the apprasel some were lower, but the finding a comp in 5 miles just caused the buyer to forget that Bank, its just going to take lots of trying but as for now I dont see any banks lending on our home which is sad. You can go into my propertys and see my home is beautiful, and log cabins are built good they arent going anywhere in a storm. We do have a potentual private lender who is going to loan most of it and the buyer does have the rest, but like I said he has a partner and is waiting for his partners approvel, so itsa a nother waiting game.

Thank you
LadyRichards

I cant do owner financing because I need the money from my place to purchase the place i am buying or else I would.

Thank you
LadyRichards

Well one of the problems is that all the log cabin comps are to far away, there just arent any in our area that have sold, they are all 50 or more miles away. And so far all the banks want at least one log cabin that has sold in the last year in our area. Right now it seemss that the only thing we have going for our buyer is a private lender that is considering it, just dont know what to do, how to get the banks to take the comps

Thank you
LadyRichards

[b]Hi I have a log cabing home in Okeechobee florida. We are now on our secound contract with a buyer, we can not get the banks to approve a loan for anyone. The problem is the comps, they want another log cabin that has sold in the area with in the last year, last bank wanted one with in 5 mile we are in a rule area and there arent any. I am now to the point where the only way I can sell my home is with a cash buyer or private invester, we are still under contract with a potentual buyer, and we have a contract on a place when ours sells but are running out of time. Anyone have any ideas?

Thank you
LadyRichards