If you are unemployed, No.
If you haven't been unemployed for long, go get a new job and continue your income, and if your property has 0+ equity and a continually good credit history, you may qualify soon.
Speak to a lender to confirm:
Matt Hennessy
Certified Mortgage Planner
Evergreen Home Loans
www.HennessyFinancial.com
Direct (702) 810-1522... more
Hi there,
I've looked into this matter for you, and can say what's going on with your updated data.
Your updated bedroom count is in the "Owner Information" section of the property page: http://bit.ly/GFcAwI. However, we are also displaying the publicly available information which is what is causing the confusion.
We are currently looking into ways to more clearly explain the differences between the publicly available data and the data you provide.
In the mean time, if you do not agree with the valuation that we have given you, you can click "Too high? Too Low?" to give us feedback on exactly how much you think your home is worth and why.
I hope that answers your questions, but if you have more feel free to shoot me an email at andrew@trulia.com
Andrew Wilkinson
Community Manager, Trulia Voices... more
Once you graduate and have a job, as long as the job is in the same field that you graduated in, the lender will be able to finance you right away. Please call my lender partner Anthony Washington at All Western Mortgage 877-686-3526. He can go over the exact numbers and your scenario with you to make sure you are on the right track to buying a home!
Best of luck! Let me know if you have any other questions.
Mary Preheim
702-403-3452
marypreheim@realtyexecutives.com... more
Well, I see that David deleted his post. We have had problems with him on other questions. Bottom line, do your research. My credo is "The best decision is a well informed decision...So we take whatever time is necessary to make sure you make the best, most well informed decision."
For nearly 32 years it has worked for me.
best of luck.... more
Can give you a more accurate answer if I new the square feet of the 3 bed 2.5 bath, and if it is 1 story or 2
David Cooper Las Vegas Foreclosure Investor in Bank Owned REOs with Cash Flow +1-7024997037
not a real estate agent... more
You are going to here all different answers to this question, the best advise I can offer is for your best interest and peace of mind please talk to a Real Estae Attorney. Every person situation is different when it comes to this market. It may cost you a few $ but this could be the best money you spend.Good luck... more
Most foreclosed properties are in a mess because the previous homeowners intentionally left it that way and the banks that own these properties are not going to spend more money cleaning the place up. Your best bet is to advertise your services to everyone or team up with real estate agents and ask to have your company included as a referral to new homeowners of foreclosed properties. Good luck!... more
Hello Money123....
Best way to buy an REO:
~If financing have full approval letter with a Nationally recognized Bank.
~Be prepared to offer market value for property (remember market value is the great value as LV is discounted 50-70% from 2003, 2004, 2005)
~Pay your own closing costs to help compete with other offers and give you an additional edge.
~Make offers on a few REO at the same time.
~Work with agent that is attentive to move fast for you.
Above are just a few tips....
I help buyers get the home that makes them happy and I do specialize and have access to all REOs.
Thanks much and have a great day!
Julia at Realty One :)
Please feel free to contact me at 702-355-H-O-M-E (4663).... more
Pat,
I think you have some excellent information already provided to you in the previous answers. I just have a couple of points to add.
1.) Do not use the list price to judge what to offer on a property. For example if you are looking at purchasing a 2000 sq foot single story home in Southern Highlands. Have your agent pull all the closed recorded sales of similiar homes in this area in the last 90 days. In my example, lets say the sales price of these comps range from $170k to $200k. If a new listing comes on the market and the asking price is $150k even if you offer $15k over list price you are setting yourself up for failure. Base your offers on the comps not on the list price.
2.) Maybe you should be looking at Short Sale properties in addition to the REO's. I know they can be frustrating, but there is way less competition making offers on these right now. If you had originally made an offer on a short sale when you first started looking you might be in your new house already. I am advising my clients to not rule out short sales. Short Sales can be a good option for buyers who are finding it tough to compete with the all-cash offers that are common on REO's right now. Short sales also usually have no problem paying up to 3% of the sales prices towards the buyers closing costs and it is really tough to get the REO's to agree to this right now with the competition.
Good luck with your search.
Ron Johnson
Elite Realty
702-595-9743... more