Profile picture for George Langford

George Langford's Advice

Contributions are sorted newest to oldest.

  • 4 Contributions
  • 0 Best Answers
  • 0 Helpful

George Langford wrote:

I have bad credit but want to buy a home for the first time how do i go about this

Answer
There are many options for individuals with less than perfect credit. A great option for you would be to talk with a mortgage broker vs. going directly to  a bank. Mortgage Brokers tend to have access to many different investors that might be able to make exceptions as well as be able to lend to individuals. Be sure to ask questions to the mortgage brokers and possibly even get referrals from others. If you do intend to repair your credit ensure that you do go with a reputable company as their are a lot of scams out there. Warning: Before you go ahead and start repairing your credit talk with a mortgage broker. Sometimes what we assume is "BAD CREDIT" may not be that bad to a lender. Missed payments, late payments that happened a year ago or even longer may not play a that big of a part for a lender as well. A lot of times they will make exceptions as they know life events do happen to individuals. Going and trying to fix these or bring them current also could effect you in a negative way. Although you might have an account in collection that is past history, trying to fix it it or pay if off brings that history current. Hope this helps out but please don't get discouraged and remember the best thing is to begin a conversation with someone. At least you will know what path to take to begin to place you on a road to home ownership!Cheers!George
December 14 2012
(0)

How do I know the value of a house before making an offer, especially for a contemporary home?

Answer
Great question! In today's market (at least here in San Francisco) we are seeing an upward swing in home prices. So many buyers are asking what is the home really worth. A great basis is to start with recent solids in the area of the home you have interest in. Having a Real Estate professional pull 4-6 months of recents sold properties similar to the one you are questioning. This will give you a market trend as to what buyers are paying (value) in an area. Although in an upward market, sometimes in a multiple situation it's a lot harder to determine. Listing Price vs. Sale Price: Listing Price is determined by local area trends and past sold properties, but the "true value" of a home is determined solely on what a buyer is willing to pay and a seller is willing to sell. A great safety net as well is the appraisal from the bank you are obtaining a loan. if the value isn't there the bank will NOT lend on the property. Best of luck! 
December 12 2012
(0)

Upfront retainer - what do you think?

Response
In San Francisco here we do have a "buyers agreement" but in reality it doesn't mean much in the grand picture. As far as charging up front for listings its very uncommon to due to unless you have paid upfront money to prepare the home for sale (painting, staging, reports, disclosures, etc.) and it was agreed upon in writing with the seller that in the even the property doesn't sell these out of pocket expenses are to be paid back to the agent (broker). I think we are a performance based industry so sometimes we roll with the punches but if you are servicing your clients correctly and guiding them through the transaction with full disclosure there should be no need for upfront fees. 
December 12 2012
(0)

I tried to repost my ad on craigslist, cl blocked it,saying that the term postlets.com is not allow

Answer
It's related to the URL in the posting. Craigslist believes that you are trying to spam the site so the copy the URL. They actually consider this a violation under their "terms and conditions of craigslist" try just posting a standard ad on craigslist with the needed information regarding the property or update open house times and says and that should due the trick! 
December 12 2012
(0)