Home Financing Feedback

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Home Financing Feedback (by Sandy [CA]) Apr 11, 2011 6:55 AM

Home Financing Feedback (by PC [MN]) Apr 11, 2011 7:54 AM

Home Financing Feedback (by Sandy [CA]) Apr 11, 2011 8:15 AM

Home Financing Feedback (by PC [MN]) Apr 11, 2011 8:51 AM

Home Financing Feedback (by Red [GA]) Apr 11, 2011 10:34 AM

Home Financing Feedback (by PC [MN]) Apr 11, 2011 2:03 PM

Home Financing Feedback (by Sandy [CA]) Posted on: Apr 11, 2011 6:55 AM
Message:

Hi all,

I am in the process of purchasing another investment home. While I live in CA, I own two SFHs in Arizona that have done very well and therefore plan on purchasing anther rental in that state. Yet, I still consider myself a newbie.

The question I am currently debating is how to make an offer. The home was built in 1973 and is in great condition as the interior (new tile, carpet, kitchen) and exterior were rennovated (new paint, windows, roof) three years ago. It's 3/1.5/1 1100 sq ft.

Asking price is 52k and the home will rent for $625. Should I submit a full offer and ask for closing costs. Or should I low ball the offer and pay for closing costs out of pocket. Fiancing will be convential. My credit is good yet I am trying to make the best decision. Sorry if the question is a bit out of the norm but I'd like to hear from others. Ideas? --211.181.xxx.xx

Home Financing Feedback (by PC [MN]) Posted on: Apr 11, 2011 7:54 AM
Message:

Is the house a foclosure,for sale by owner,Hud or owner selling through a realtor? --12.158.xxx.xxx

Home Financing Feedback (by Sandy [CA]) Posted on: Apr 11, 2011 8:15 AM
Message:

The home is a foreclosure being sold by a Realtor. --211.181.xxx.xx

Home Financing Feedback (by PC [MN]) Posted on: Apr 11, 2011 8:51 AM
Message:

The bank considers the total offer so if it were me to make the offer look better I would consider paying the closing costs. --12.158.xxx.xxx

Home Financing Feedback (by Red [GA]) Posted on: Apr 11, 2011 10:34 AM
Message:

What are the comps? How long has the bank had it? How many times have they dropped their offer? Does the bank actually own it or is some governmental program holding it? Those are factors you need to consider.

--65.12.xxx.xxx

Home Financing Feedback (by PC [MN]) Posted on: Apr 11, 2011 2:03 PM
Message:

Good points Red --71.51.xxx.xxx

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Home Financing Feedback

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