All Forum Posts by: Richard Stephens

Hey BP Community,I have a home that we owe 65k valued around 180k and want to sell as owner finance anyone know if i can do this with still having a mortgage? If so can anyone advise me how to structure the paperwork.Would i need an attorney to do this ? Regards,

im in same situation,i have a house that i owe $65k to the bank and its worth $180k and want to owner finance.can i do that,can someone help with the process.im willing to pay for the help.thanks 

Hi BP Community, Looking to owner finance a home that we have a note on. Not sure how to do legally and with proper paperwork. Any advice would be greatly appreciated. TY

Hey John and Lucas,appreciate your time and response.Wife and I live in one house and daughter and grandkids live in the other house with the well + meter.It is an average of $30 + that our usage increases my daughters bill.If we water lawn etc it can go up as much as $40+ a month.We are looking to rent the 2 houses and didn't want any issues with the future renters.I would like it to be as accurate as possible to the point I thought about running a 120v leg of power from our house to the wells power to know for sure its 50/50. It would be about 125' run to do so. Sounds and would be a task but I wouldn't want the tenants to be disgruntle,feel like their having to pay for the others water.

Hi Everyone,looking to independently rent two homes on 1 parcel of land.The issue I have is the water well serves both houses and electric usage is charged to one house.Wondering what suggestions anyone would have to split the electric charges.

Hello BP's people,Need guidance.Was looking to refi our primary residence that is a 1996 double wide mobile along with a 1974 single wide mobile that's old & rough that our kids live in thats on 1/2 acre of land and shares the water well. Appraisal district has double wide valued @ 35k and mortgage @ 65k along with single wide value @ 12k,both homes on same note,ugh ! The area were in is RITZI 250k - millions$$$, and in a highly sought after lake area.we refied in 2013 and appraised @ 90k and couldn't find comps in area had to go on other side of the lake to get comps.Planned on renting both homes,double wide @ $1400-1600 and singlewide @ $850-950.Tried contacting realtors to give comp idea,nobody calls back!!! Should I  rent them or owner fia and sell as a note (don't really wanna do,kinda wanna holdout for chance of really increasing in value of the land,like said highly sought after area.)Any ideas would be greatly appreciated.     Best Regards, Richard.S

Hey Chris, The realtor that was involved in the transaction was about 12 yrs. ago and is not available for help. Appreciate your assistance.

Hi BP's Community, we need help on figuring appraisal value of primary residence.Ive contacted several RE Agents for comps and they haven't returned calls. Were looking to refi for funds to move closer to elderly parents and rent both houses and don't wanna do upgrades if wont matter since we live in a 1997 double wide mobile home with 1/2 acre and another 1974 mobile in rough shape but habitable (grandkids live in) and its the only mobiles on the street and in the area. We refied in 2013 appraised @ 90k and owe 65k and comps were pulled from across the lake,since they weren't able to find comps close by. we are the only homes on the street that don't have lake access and the houses on our street run from 250k - 600k,The appraisal district has us at 35k mkt. value and other home @ 12k, were in an unincorporated area in F/W,Tx.Hope I explained the situation adequately and any help/recommendations would be greatly appreciated. OH, one more question, should we let the bank know were looking to rent homes or ???

Hi Keith and Peter, We kinda figured that they can do what they want.Just wanted to confirm it with the BP community figuring we would get a straight honest answer there. Thanks so much for yalls input and time.            Best Regards,    Richard

Hello BP's Community,Can anyone advise me raising property taxes> Is their a % limit they can raise it annually? We went and protested property value and they lowered it from $103k to $90k but taxes went up 14%,Ugh seems like cant win,house isn't even worth the $90 compared to neighbors houses. Thanks Everyone