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Do you need to be a qualified buyer to buy a home that the owner will carry?
Wiki User
∙ 8y ago
Yes, for the most part, you will have to have some qualifying element.
Wiki User
∙ 8y ago
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Can you get an equity line of credit on an owner-carry home?
I presume owner carry homes are kind of apartments so you can get equity line of credit .
What are some benefits of an owner financed home?
When the seller of a home pays for the building for the buyer and the buyer then makes payments to the seller, it is called 'owner financing'. This can benefit both the buyer and the seller. The buyer can purchase homes they normally could not due to low or bad credit, and the process is generally more flexible than when a professional is involved. Sellers get more money in the end thanks to interest and may be able to sell a property more quickly if they offer this option.
Does owner financing and contract for deed mean the same thing?
When a home seller offers "owner financing", they are essentially offering to hold a mortgage note for the deed on the property. The mortgage note is the "contract". The contract pledges the deed to the buyer once they pay in full. Once the "contract" is paid off, then the deed is transferred to the buyer as the new owner.
If there are 2 purchasers on a home and only one is a first time home buyer can first time buyer get first time home buyer tax credit?
Yes
Who pays for a home inspection?
In a real estate transaction, typically the buyer pays as it is the most beneficial to them to have this process completed. There are seller inspections where they will pay before placing their home on the market to show what condition their home is in and there are home maintenance inspections that are designed for home owners where the home owner will pay. Most realtors will stress the importance of a home inspection and will sometimes pay for their client or negotiate for the seller to pay. Nine times out of ten it is the buyer.
Does the seller of a home have to notify the buyer if offer was denied?
Only if the owner is acting as the agent, otherwise the agent can notify the buyer.
Can you get an equity line of credit on an owner-carry home?
I presume owner carry homes are kind of apartments so you can get equity line of credit .
Does Emigrant Direct do home mortgages?
Emigrant Direct is a great bank. It is also capable of performing home loans. But not just for anyone, you must be a qualified home buyer with good credit.
How do i go about getting qualified for the first time home buyer programs, and assistance dwn pymt programs. With my montgomerey GI Bill?
When you go to the realator office and show significant interest in buying a home, they will tell you how to go about applying for the first time home buyer programs.
What are some benefits of an owner financed home?
When the seller of a home pays for the building for the buyer and the buyer then makes payments to the seller, it is called 'owner financing'. This can benefit both the buyer and the seller. The buyer can purchase homes they normally could not due to low or bad credit, and the process is generally more flexible than when a professional is involved. Sellers get more money in the end thanks to interest and may be able to sell a property more quickly if they offer this option.
Where can one purchase the For Sale By Owner signs?
Home improvement stores (such as Lowe's and Home Depot) and hardware stores carry them.
Does owning a mobile home count as first time home owner?
Yes purchasing a Mobile Home counts under 1st time Home buyer. Credit is 10% of purchase price up to $80,000.
Does owner financing and contract for deed mean the same thing?
When a home seller offers "owner financing", they are essentially offering to hold a mortgage note for the deed on the property. The mortgage note is the "contract". The contract pledges the deed to the buyer once they pay in full. Once the "contract" is paid off, then the deed is transferred to the buyer as the new owner.
What different between appraisees and appraiser?
An appraisee is the home buyer or home owner having the appraisal done. The appraiser is the person doing the actual appraisal to determine the value of the property.
Do you have to get insurance if you pay cash for a house?
No. If there are no mortgage requirements that you carry insurance then it is completely up to the home owner.
If there are 2 purchasers on a home and only one is a first time home buyer can first time buyer get first time home buyer tax credit?
Yes
Is it only proper to buy a gift for the first time home buyer or every home they buy?
yes every home Buyer
