It is not uncommon for people to shop around and end up doing business with the one who provided the least detail, but the right product at the right time. But appreciate anyone who has contributed during the process.Buying a car, the buyers visited a number of dealerships and test drove several cars, the sales people answered every question and educated the buyers on things they did not know. At the time they ready to make the purchase, they happen to see the right car at the right price, but they don't always commit to going back to the dealership where they got the most information.Buying clothes, people try them on while at the stores and then they order online for price difference or any other incentives. Cell phones, mortgages, buyers compare rates and terms and they get educated along the way.I think you appreciated your friend's effort in introducing those properties for you to compare your options, and any real estate related knowledge he has shared with you. I think you also acknowledge that other agent's effort in showing you the property and discussing the lease terms for once, twice, or more times.And neither of the agents asked you to commit to an exclusive agency relationship the first time they provide service to you? (If one of them did, you would be legally binded to anything you signed).I work with multiple agents in different areas and evaluate properties as they send me listings. And they are all aware that I work with others at the same time. However, I commit to the exclusive agency relationship for only the properties they brought to me. Although many of the listings we looked through were not good purchases - price, condition, etc., I would always show my appreciation to those who helped in the research process.I've made friends with agents who I've never closed a deal with. (The deals were not good, but the agents were awsome people.) I've referred other buyers with different buying criteria to them, I've pass along credit repair resources, I've become their business reference. If I saw properties on Craiglist or other sites that may meet one of their buyer's interest, I have brought those listings to the agents' attention.We don't always have the right answers at our fingertips when involved in a situation at the moment. But afterwards we may concern about how things were handled. Perhaps you have other business associates who have real estate needs, or you might lease or purchase other properties in the future, have enough business to pass around.
If your owner financing has closed formally and you have the title to the property, you would refi like any regular refinance.If your owner financing is referring to a lease-purchase, land contract, or something privately done and you don't have the title yet, then it would be a new purchase.With new purchases, lenders require down payment out of pocket, or proof of something you've already gave the owner as down payment. Also closing fees will be out of pocket.With refinance, if there's enough equity in the house to cover any fees and the % of equity after the loan amount, you wouldn't have to worry any out of pocket expenses.No matter how you get your long term financing, credit scores, income, and debts you have will determine the kind of terms and rates you'll get.Good Luck!
With 40-50% down payment funds you have in cash you might have luck buying a house at half price... but more than likely something a little dated, need some fix up if you don't mind to move in and do those upgrades along the way.There are loans for the self employed. Credit, down payment, and debt to income requirements are different than salaried borrowers.
Did you put your earnest money deposit at your realtor or title company's escrow or did you gave it to the builder? If not at the builder, your escrow company can help review the contract and any escrow instructions on who to release the money to. (Builder or you.)
You can always be in the process of getting finance qualified and look for the best rates and terms, and purchase that you will feel comfortable keeping it.Whatever cause you to have to go through a short sale, try to avoid those same scenairos: Don't buy over priced, don't commit to high interest loans and payments that are difficult to keep up with, etc.Good Luck!
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There are subprime lender who will be happy to lend you subprime loans. But why pay twice the payment and many times the price of your home over time? Work a little hard to improve your credit profile now could save you hundreds of thousands over the entire length of a 30 yr mortgage.
Interest rate is different for everyone and it depends on factors like Andrew mentioned. Talk to your local mortgage lenders and see what you can qualify for. Search for an online mortgage caluclator and plug in the numbers to compare interest rates and payments.
Work with a realtor to represent you, provide relevent information about the listings so you can evaluate and see how you want to buy them. The realtor will help you write up the offers.
Ask your local realtor to pull up recently sold listings that are similar to yours in location, size, style, and condition.