What do I need to know before selling my home on my own?

Tips and Deals Forums Buying Your Home What do I need to know before selling my home on my own?

This topic contains 8 replies, has 3 voices, and was last updated by  Anonymous 8 years, 2 months ago.

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  • #208262


    I am looking to sell my home ASAP. I am relocating due to job. My company does not offer relocation packages. I need to sell my home quickly. Does anyone have any information on “foir sale by owner” real estate sales?

  • #283836


    Rent it out. The rental income will cover your rent for a property where your moving. Also if you have a mortgage it is a tax write-off.

  • #439364


    The days of 100% financing are long gone.
    If you have a down payment – you won’t need 100% financing.

    Go get a book
    Homebuying for Dummies –
    not really for dummies.
    And do not buy a house unless you know you will stay in it for a full 7 years.
    Hopefully a company won’t transfer you all over the world.

  • #439365


    No and until you have 2 years of employment you would not even qualify with 20% down

  • #439366


    There is no 100% financing and unlike the opinion of one of the posters you do not need 2 yr work history if you are right out of college. What you will need is your diploma and 2 yr transcripts and an offer letter showing when you will start working. FHA financing will accept this. You must be working prior to closing but this way you will only need 3.5% down.

  • #439367


    There are lenders and programs that will lend you 100% financing for your next home only then you will have to have what is called PMI, know as property mortgage insurance and this would add your your cost. Find a good experienced realtor, one who has been in the housing market for at least 5 years or more, and knows what programs that are available. There is Ameridream, and Nehemiah and more programs to help purchase a home. After finding a home you would like to buy ask the seller to pay your closing cost and more, look for real estate adds that say motivated seller, or a home that has been on the market for a long time and be cautious If a listing does not sell some owners will list with another company and then it get listed for only being on the market for a few days not many months or years. Most importantly get a home inspection, and a warranty on the home. Know what your taxes and insurance cost are and include them in the price of your home. The so you do not fall behind on any payments have the mortgage payment automatically deducted from a checking or savings account, banks are more willing to lend when you set it up that way. It is a buyers market and that is to your advantage too. Start looking ASAP it takes time to find a good home. Happy Home Shopping.

  • #439368


    the only way i know of is rent or lease to own?? or maybe buy a repo most banks will let you just keep making the payments!!

  • #439369


    USDA is doing 100% financing again after some time off due to running out of funding. Your household income cannot exceed 115% of the median income for the area and they don’t finance homes in cities with populations of 25,000 or more with some exceptions for disaster areas. There is no monthly PMI and they also finance closing costs.

    Many states have grant programs and/or second mortgage programs that will grant or finance 2.5% of your purchase price which when combined with an FHA first mortgage will allow you to buy a home with just 1% down. They will require you to live in the home for a period of time and they may require you to pay part of it back if you fail to reside in the home. They also have household income limits. They do not restrict where you buy the home and even provide preferred terms if you buy in certain “Target” areas.

  • #439370


    With good credit, yes, it might be possible. Fannie mae is bringing back no-down-payment mortgages already, now that the market is stabilizing. It sounds impossible to believe but read the source article from a credible source. However, being a recent college grad could still be an issue.

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