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Of course who can stop you from purchasing another home, but you have to secure the financing and of course report to the IRS aforementioned transactions. That might be a bit hard though as your credit and fiscal history are most likely shot. Please advise a CPA and a real estate broker to get professional advice.
What else can I help you with?
Can a family member buy a short sale property from another family member?
Can a family member buy a short sale property from a family member
Can you purchase a home scheduled for auction before the auction?
You are not able to purchase a home prior to auction unless the auctioneer and/or auction company has provisions with the seller to permit such a sale.
What services are offered by Coldwell Banker Realtors?
Coldwell Banker Real Estate will help you sell, and or purchase a home. They can list your house for sale as well as assist in locating a new home. They have locations worldwide with many houses listed for sale.
Can you purchase a WalMart Store?
Yes you can purchase a walmart store if you could make your own or if it was for sale.
What is the seller when he sells his home an offeror or offeree?
The seller is the offeree. In all real estate cases, the seller will list or "put up for sale" their home or property. A buyer will then submit an offer to purchase that property making them, the offeror.
Can you purchase a short sale with an fha loan?
Yes, you can purchase a Short Sale with an FHA loan. There are no restrictions on the type of financing in the purchase of a short sale.
Buyer's short sale savings?
Short sale is a great option for investors who want to make some money. If they make a smart purchase of a short sale home they can earn a huge profit. But, they need to be very careful when buying a short sale.
What is better a short sale or a foreclosure?
A short sale is always better. I will tell you why very definitively. When you purchase a home on a short sale you are helping a homeowner salvage their credit and dignity and helping them out of a bad situation. You are also preventing a large loss for the bank and getting a great deal for yourself. Everyone wins if it is done correctly. A foreclosure will have a very bad effect on a homeowner's credit and the bank will in most cases take a bigger loss than they would in a short sale. A sellers credit in a short sale will be damaged to a lesser extent than a foreclosure. In most circumstances if you have done a short sale you will not be able to get another loan for two to three years. In a foreclosure it is usually around five years before you can purchase another home.
Can you do a contingency contract on a short sale?
No you can not purchase a short sale property contingent on selling your home. A lender would never agree to such a clause. In most short sales the lender will ask for the buyer to close quickly (within 30-45 days).
What is a short fall sale?
A "short sale" refers to a home that is being sold for less than the balance owed to the mortgage company. For example, a home is listed for 450,000, but the owner owes 600,000 on the home. This would be a short sale.
How could one purchase a home in Belleville?
Someone looking to purchase a home in Belleville should contact a real estate broker. Another way to purchase a home in Belleville is to contact the seller via the phone number that is usually along with the sale posting.
Do you have to have a buyer in order to do a short sale?
You would eventually need to have a buyer in order to complete a short sale otherwise you would be applying for a deed in lieu. Your Bank/lender however will start the short sale process without a buyer, in some cases approve a purchase price range so that you have an idea what you need to be selling you home for.
Can you buy home after short sale?
Yes you can buy a home after shortsale, remember your credit with be ok for the simple fact it will show you paid your debt of your home by doing a short sale.
Do you have to pay your mortgage when you short sale your home?
From what I understand the bank has to agree to the short sale and then takes that as the mortgage paid.
If i short sale a house how long do i have to wait to purchase a dwelling?
If you short sale a house you don't have to wait any specific amount of time to purchase a dwelling. It does mean that the interest rate on the new mortgage could be higher than normal, or it may be more difficult to purchase a new dwelling due to the poor credit score resulting from the previous short sale.
What are Short-term ways to encourage the purchase or sale of a product or service?
RATIONING!!!
I have bad credit due to a short sale Can you get another home loan?
You can obtain another home loan, however, you may be subject to paying a much higher interest rate than you would if you had good credit.
