why are sellers so learly of contacting a local realtor who sells home is their neighborhood? would you not go to the doctor if you were having issue? or operate yourself or have the post man cut you open? I just don't get it...
you will most likely need to short ... for the market to pick up enought to gain $100,000 plus for closing you are still upside down...could you possibly rent the property for your PITI? perhaps another option...speak to a financial advisor and real estate attorney... understand what will happen if you go short on the loan... good luck
Sorry Landon, a lease option has nothing to do with taking over the sellers loan... you are off base..and Jerry is correct... need to know more about the loan in hand... it may or may not be assumable.. and an AITD is a risky proposition to the buyer.. seek legal advise.. and you financial advisor...get your facts straight... good luck
I would think this is to keep those who just bought to stop from purchasing a new home, moving, claiming the credit and then forclosing on the old property... which would be a double hit ... I see nothing wrong with making a giftee of a credit jump some hoops... it is a gift after all...
as stated with some of the other agents.. you don't mention if the offer was signed by the sellers... and you are awaiting the signed contract from the bank? As long as the seller signed you are the winning offer with the seller... that does NOT mean you are the winner with the bank ... only time will tell.... Good luck...ps.. hopefully you signed some sort of an addendum that your contigencies and time frames do not start until notification of acceptance from the bank... that is a protection to the buyer...
The seller is NOT bound to accept any offer... and has the Legal right to accept or reject at will... Sometimes there are more considerations than just the price in a real estate negoication...good luck next time...
What is my home value
Answer