Frequently Asked Questions | |
| I am looking for foreclosure properties. I was considering a HUD home for an investment. How tough is buying a HUD house? What is HUD? What is FHA Loan? What does "Owner Occupied" mean? Where can I find foreclosed property? What arrangements do I need to secure financing on a foreclosure? How long does it take to close? Why should I use a realtor ? I want to know my homes value. I received a notice of default but have no where to go, or I don't want to move out. Current Listings |
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| I am looking for foreclosure properties. Congratulations! you are touching on the next gold boom! foreclosed properties are very quickly becoming the answer to the white collar investor. There are thousands of homes in foreclosure daily. The Results Guy has access to these properties. The Results Guy works with large banks and works with their clients to sell homes sometimes prior to a full foreclosure, passing the savings on to the consumer. Chris says, "in order to facilitate a free list of foreclosures available I need to meet with them personally and be able to verify that that have the means to purchase foreclosed property. and that in most cases there is not enough time for lending etc, and also that most pre-foreclosure homes are not in appraisal required condition to conform to the lending criteria with the pending repairs. thusly a meeting to get a proof of funds letter, or if the investor is looking in to being a real estate investor for the first time, its best to not only have the lending and or cash ready to go, but possibly prior to making a offer on a foreclosure maybe the results guy could help get an equity loan for a down payment on a sub-prime loan product prior to considering these types of purchases. only a free consultation with myself or my staff will determine the best route for even the first time investor. " Back to the TOP I was considering a HUD home for an investment. HUD homes are a good investment, however there are quite a few perimeters that you need to consider. contact us for more details Back to the TOP How tough is buying a HUD house? Buying a HUD home is rather involved. It requires not only a pre-approval from a lender, but also requires up front earnest money in the form of certified funds. In most cases this is non-refundable. You have to be very serious, and be sure of your decisions when purchasing a HUD home. The earnest money actually depends on the purchase price. In most cases the earnest money is from 500 - 1,000. Back to the TOP What is HUD? Housing and Urban Development. HUD is the form of the housing and urban development entity that orchestrates the acquisition of a federally insured loan. Llike FHA. if a homeowner had an FHA loan when the purchased a home, then were unable to make the payments, HUD would acquire the property since the insurance policy backing the FHA (Government loan) was enforced. HUD acquires the property, cleans, assesses value, and lists the home for teachers and police first, then to the public at large. It is best to have an agent help you on these very complex transactions. Back to the TOP What is an FHA loan? Federal Housing Administration Loan FHA is a federally insured loan. Backed by the federal government. Back to the TOP What does "Owner Occupied" mean? This means that the owner of the property, or the entity loaning funds for a purchase is requiring the buyer be an occupant of the property. Sometimes this can even be followed up with a term called mortgage maintenance. This is where your lender could have someone at any time come by and make sure you are living there. If you are not they could call the entire loan amount due. Back to the TOP Where can I find foreclosed property? The Results Guy is your best mode of listings that are fresh almost daily, as well as property across the multiple listing. Back to the TOP What arrangements do I need to secure financing on a foreclosure? Prior to any offer to purchase, it is best to have all your financing arrangements secure and ready. This makes for a much more powerful offer when in negotiations this is a very good tool to have an approval pending an appraisal and acceptable title. The Results Guy can go over this with you personally. Back to the TOP How long does it take to close? Most closings depending on your lender, and your commitment to getting the documentation they need is usually from 2-4 weeks. Back to the TOP Why should I use a realtor ? You should have representation on any purchase. not just an investment property. One of the best reasons is representation! You wouldn't dream of going to court without an attorney, don't make the biggest transaction of your life without The Results Guy in your corner. Your representation is also paid on your behalf by the folks who have their home on the market. meaning that The Results Guy's services are free to you the home buyer!. The Results Guy can put on the boxing gloves and go to work for you aggressively, professionally and tenaciously. Back to the TOP I want to know my homes value. This process usually takes only 1 business day. The Results Guy can determine value based on the like sold homes in the immediate area. this information is put in to a readable and user friendly format that the seller can understand. A certified appraiser can also perform this task for you .Back to the TOP I received a notice of default but have no where to go, or I don't want to move out. You really need to try to secure another place to live soon, and also decide what you are going to do about the looming foreclosure. The Results Guy can advise you on your options. Back to the TOP | |
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