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20 May 2014 | 4 replies
How to verify if a property is Section 8 approved?
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12 February 2019 | 30 replies
On the other hand, an experienced investor, especially one I have worked with before may need only give me general details of offers they are making to get my preliminary approval before their offers are accepted.
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23 May 2014 | 3 replies
The leading real state books and educators teach the following basic approaches to buy real estate creatively.Some good and some not so good.Later I'll discuss the pros and cons of the best creative financing methods so you can determine which to use for your particular situationLand ContractsOptions, Leases, Options to purchaseAITD's (All inclusive trust deeds or wraps)Seller carry back deeds of trusts/mortgagesTaking subject to the existing financingNot recording the deed, which is dangerous if not properly protectedRecording a memorandum of agreement Trusts:Transfer the property to the sellers trust, get the bank to approve the transfer and then have the beneficiary of the sellers trust changed to the buyer.Just transferring title into the buyers name hoping the lender won't call the loan.Equity shareAny of these will trigger the due on sale clause and as a buyer or seller if you haven't put safeguards in place, you are unprotected against claims against the title from showing up and or the lender calling the loan due.Are you prepared to take the chance that the seller may further encumber the property or resell to someone else?
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23 May 2014 | 2 replies
Once approved by my brokerage firm, the funds are easily accessible, therefore a cash offer could be made on certain properties.
24 May 2014 | 3 replies
Pre-approved and ready to buy.Any recommendations are appreciated.Please PM with any info.Thanks,Luke
24 May 2014 | 12 replies
Do you have a pre-approval letter or some sort of proof of funds?
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25 May 2014 | 3 replies
I've been pre-approved for the asking price of the property ($24,900), and the mortgage banker at Quicken Loans has generated the documents based on that price.
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26 May 2014 | 1 reply
So a foreclosure in their past doesn't usually give us pause during the approval process but we received an application yesterday and upon doing some quick checking we discovered that our applicant was able to prolong their foreclosure for nearly 8 years.My initial thought is that if they are this good at prolonging a foreclosure what will they be like (or how good will they be) at prolonging an eviction if we ever head down that road.Comments?
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21 April 2015 | 3 replies
If there are more owners wanting to rent than the building allows a priority list is created and you can't put the unit up for rent until your unit is approved for rental by the HOA.
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28 May 2014 | 2 replies
I have a situation where I have an end buyer that has been approved for a $350000 loan and they are looking for a deal.