:: frequently asked questions
Why should I own a home instead of renting?
A home is an investment. If you have always been a renter, think about that check you write every month. That is money that is gone forever! It's tens of thousands of dollars that you will never see again. It's time for your money to start working for you! When you own a home, you can deduct the cost of your mortgage loan interest from your federal income taxes, and usually from your state taxes as well. This saves you a great deal because the interest you pay will make up most of your monthly payment for the first few years of your mortgage. Additionally, you can deduct the property taxes you pay as a homeowner! Finally, as you make improvements to the home, whether it is new lighting fixtures or window treatments, you increase the value of your home, instead of increasing the value of your landlord's property.
What if I have bad credit?
Don't despair if your credit report is not stellar. Sure there are incidents that can't be taken off the report but you can take steps to rebuild or repair your credit score. It's in your best interest to contact us, so we can advise you on your credit and help you develop an action plan to improve your credit situation. Just a few simple corrections can make a big difference on your credit score and save you thousands in interest payments by lowering your interest rate.
How much money do I have to come up with for the down payment?
We'll work with your available funds for the down payment. In some instances, we can also make special arrangements for you to make a series of payments until the down payment is paid in full!
If you are not yet working with a mortgage professional, your best option is to contact us by calling our office or filling out a Contact Us form. We can initially help you evaluate your loan potential. This is a free service we provide before you start looking for a home. You are under no obligation. This is simply for your benefit. We also work with the leading mortgage brokers and lenders in the area, who are experts in financing programs and options that other lenders don't even know exist! We will help you find the best financing option for you!
What is the Rent-To-Own Program?
The Rent-To-Own program takes you from renting to home ownership by first establishing you in your new home as a "renter". As part of the lease, you have the exclusive right to purchase the home at a later date. This is the perfect option for those who have poor credit or lack sufficient down payment money. The program affords you the time to repair the issues that have been preventing you from buying a home. Additionally, each month a fixed amount of your rent can be applied toward your down payment on the home!
What will your service cost me?
You will not pay us any fees or commissions if we buy your house or if you buy one of our houses! As investors, our reward is in finding a buyer for our homes and finding another good property to restore to its full potential. If we list and sell your house, you will pay us the standard real estate commission, which is a small price to pay for the excellent service and great results that we will bring.
If I want to buy a short sale, how long will it take?
If you have a deadline, a short sale is not a good option for you. Although the prices are generally discounted, it could take anywhere from 3 – 4 months, but you can’t guarantee the deadline.
Why should I work with you instead of a realtor that I know?
Most people prefer to work with people that they know because it makes them feel more comfortable. Sometimes that is the best route to take, but many times you will get better results if you work with a specialist. The present real estate market is not a normal market and whoever you choose to represent you needs to be extremely knowledgeable, experienced, and competent so that you actually get the best results. Unless the agent that you know deals with the banks on a regular basis and keeps up with the many changes, their lack of knowledge and expertise could serve to hamper you rather than help you.
I’ve already tried to sell my house and it just won’t sell.
Many people have tried valiantly to sell their houses only to find that they sit on the market for months and months with very few prospective buyers. Most of that is due to the fact that they can’t sell the house for what it is worth in the present market and still pay off the mortgage and pay the closing costs. A short sale is a good solution for these homeowners because we can price the house where it will get an offer in just a few weeks. That means less fixing up for you, less showings, and a SOLD house! The bank covers the commissions so it means you really can sell the house.
