All Forum Posts by: Account Closed

Thanks, Christina, your offer is appreciated. I have accepted an offer, and we hope to close prior to th eend of September. I am still showing it, however, and will take back up offersjust in case.
Ofgift

Ditto!

Ofgift

How old is it, do you have ANY idea? In the late 1950's, rolled VINYL (made, I think, from petro-chemicals) became available (at least in no-wax surfaces). REAL, honest to God LINOLEUM became very expensive, almost impossible to get. Real Linoleum has been making a comeback, and if you have the real thing, GOOD for you.

http://www.demesne.info/Improve-Your-Home/Floor-Coverings/Linoleum-Floors.htm. If it IS real, do a little more research on it, then consider their suggestion of

"To reseal the floors, use the manufacturer´s suggested sealant once a year or so. Or you may be able to use a water-based wax. To remove the wax, use isopropyl alcohol in water (1 part alcohol to 3 parts water) to remove the old wax. Scrub well and rinse thoroughly. Make sure the area is well ventilated, wear gloves, and something to protect your eyes.

Never use harsh solvents or cleaners though. Those with a high or low pH can discolor and pit the floor´s surface

Here's one site I found.
http://www.brownstoner.com/forum/archives/2007/12/curious_floorin.php


I wish I had the real thing. I lived on a linoleum floor for about 17 years, a green floor with a black pattern running through it.


If it is in fact real Linoleum...from Armstrong:

floor care: http://www.armstrong.com/resflram/na/linoleum/en/us/fc_list.asp

maintenance: http://www.armstrong.com/resflram/na/linoleum/en/us/article18262.html

Ofgift,
now living with 18" creamy Italian porcelain ceramic tile instead...

I'm selling FSBO.
A woman called several weeks ago and left a message on my machine to see about showing my house.
After listening to the recording several times, I finally made out her first name, but not her last, or her company, and the phone number she left turned out to be incorrect.
A few days ago, that same voice was at the other end of my phone, and this time I got her full name, her company, and her phone number, gave her the code for the keysafe, and told her that it there were any questions, to call, I was just a few minutes away.
That's the day my keysafe failed, so I got to meet her, and she signed in, but didn't put her co name.

I just called the number she gave me Friday, the same one she gave me previously. It's not her number. I looked her up on the co website, she's not listed. I even googled her name, and though that comes up, and that she's an agent, there is no contact info.
I went and got the sign in sheet, the number on that is a fax machine.
I called the company, and she is an agent there, the phone number was one number off--she gave me a 6, he gave me a 9.

She finally answered.
Why would an agent make it so difficult to find her? That doesn't make any sense.
Ofgift

:mrgreen: A little OT
One fellow I knew had his counter top microwave on top of the refrigerator! :clap:
'Course, he was a very tall fellow!
Ofgift

I just talked with her, and she said I would get $125. That is $15K short of what they offered and I accepted, and just about 15% less than the price listed.

It's been on the market about 6 weeks, standard time seems to be 3-4 months.

Ofgift

LOL, gee, I can't even count! I really need help,
After your post, I called to cancel and there was no answer. He called later and said FHA doesn't allow seconds, so...

He (the buyer) said they would be eligible for the $8000 tax credit, but isn't that just on REOs? And if they are, is there any way I can take advantage of that?

So, based on what you know, Jon, with their closing costs and mine, (we would use a title co) what would I end up with?
Maybe this is still worth pursuing.

Reading your post again, you said, "I assume you mean they are approved for an FHA loan amount up to $125,000. With the required minimum down payment of 3.5%, that would be a purchase price of $129,500.

Or, perhaps you mean they're approved for a $125K purchase price, which would translate to a $120,625 loan amount after the down payment.

Please clarify which of these applies. I'll assume its the second."

Okay, I'll call them again this morning in about 3 hours. It's 7:30 here now.

Thanks, Jon.
Ofgift

Hi, Roger, What a nasty into to the US.
Have you seen the thread below, in the

Ask About A Real Estate Company secton, Wondering if a company is a scam or conducting fraud? Heard about a new investment offer? This is the place to talk about it!

Thread name is:
WARNING: Harbor Funding Group
by Rich Weese about 18 hours ago

Maybe there is something there you can get some light.
Ofgift

Thanks. No, there's no intent to do loan fraud, never even thought of that as a consideration. If FHA does not allow an owner second, it seems the only thing to do is sell it at that 125K. Guess we can't find out until Monday AM.
You're right, I think THEY mean they're approved for a $125K purchase price, which would translate to a $120,625 loan amount after the down payment. Okay, now we're 20K short, not 15.

This isn't going to work, unless I come down on my price by that much. I'm not ready to do that.

It was a thought.
l'll cancel my appointment with them tomorrow.
Thanks, Jon
Ofgift

The 60/70 yo couple that made an offer could get only 125K, not the 140 they offered.
They have to keep their payments at 900 a month, and were planning to get an FHA loan since they don't have the 20% down for conventional.
The house has not been appraised.
How can I / how should I offer to finance the remaining 15K?--or how can I loan them the money for the down so they can get a conventional loan, and when do they pay it back?
Thinking of two IOU's of 10 and 5K, but what interest rate? I don't think they have any collaterall so there would have to be a due on sale clause, and they would have to be recorded.
How and when do they pay on those notes?
Both would have due on sale clauses (how do we write the notes?) and the propety is not to be leased or rented out.
And what happens if they default on their mortgage to the bank? Will I ever get that $15K?

What didn't I ask you folks,
What do I need to ask the buyers, what do I need to check?
When do they write (and notarize) the ious to me, before they get their mortgage or after?
Do they tell the lender the sale price is the mortgage amount, (125K, or the full amount, {maybe 140K?} )
Which is reported to the city/county/real estate/title co?
WHO reports it to the real estate commission, the city? The title co, or the lender? Or ME?

Help me work this so I can sell that house to them.
I will use a title co to close. Do I need an attorney to write the IOUs, or do you have a boilerplate one you can post for me?
We're beginning discussion of this tomorrow (Sunday) morning.

Thanks,
Ofgift
Who really needs a lot of guidance on this...