Seller Carry, Home Loans, Land Loans, Investment Property Loans |
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| Here is how to sell a house, luxury home, or commercial property. If you have equity in it (meaning it’s worth more than you owe on it, lucky you), you need to reconize that it is hard for prospective buyers to get jumbo loans these days. That’s why so few of the commercial office listings and the luxury homes for sale are actually selling in Phoenix, Scottsdale, and Paradise Valley. You can sell your home or sell a commecial building much faster by offering owner financing. If your property is free and clear, you can collect a normal downpayment from the buyer, then carry back the balance of the sales price. If you still have a loan on the property, you might consider doing a “wrap loan” where you wrap part of your equity around your existing loan and make a nice return on both your equity and your underlying debt. The net interest you earn sure will beat your bank’s low interest rates on savings and deposit accounts. These types of transactions are legal in Arizona, however, all parties must be advised of the risks and the benefits in using an All Inclusive Trust Deed (“AITD”) where the buyer makes an all-inclusive payment to the escrow or collection agent who then distributes payments to all payees. Call us to discuss your situation and ask for a referral to an Arizona attorney with years of experience correctly documenting real estate contracts.
If you are in the market to buy a home and plan to borrower less than the $417,000 conventional loan limit, you can still go through the traditional channels. How to buy a house, step 1, is get pre-approved for a home loan so you can correctly answer the question “what do you qualify?” I can best negotiate on your behalf when we have your loan approval in hand when you decide you are ready to make an offer. You can call any of the following mortgage professionals listed below to discuss current financing options that will work best for you and will help make your buying process an enjoyable experience! Tell them Maureen at Urban Premises highly recommended them! They will help you get qualified for financing, including completing the Pre-Qualification Form and/or the Loan Status Update that is now required in the standard Arizona Residential Resale Purchase Contract. Residential Loan Brokers recommended by Maureen Thelen: Mr. Court Crofoot, Peoples Mortgage: 602-882-5588 or 602-334-4750. Conventional, FHA, VA Ms. Robyn Robertson, Suburban Mortgage: 480-355-8106 or 480-415-2336. Conventional, FHA, VA. Mr. David Kobierski, Nova Home Loans, 480-385-6636 or 480-326-2659. Conventional, FHA, VA, free Credit Counseling and on-line loan applications. Land and Lot Loans: If you want to buy raw land or a custom home lot and plan to finance part of the purchase, be aware that lenders who will make land loans are few and far between these days. If you want to find a lot for sale, then build a custom home on it, I can put you in contact with lenders who can help you get a construction loan, then roll it into a permanent home loan when the home construction is completed. Commercial Investment Loans: When you are considering using an institutional loan to buy a multi-family, office, or industrial building, either for investment or to use in your closely held business, getting pre-approved improves your chances of being able to secure the right property at the most favorable price and terms. Loan programs change continuously, so call either of the commercial loan brokers shown below to determine what commercial and investment financing options are currently available in our marketplace. Tell them Maureen Thelen at Urban Premises highly recommended them! Mr. Neal Churney, CCIM, Johnson Capital: 602-552-0065 Mr. Bob Gibney, Robert T. Gibney & Associates: 480-429-3542 or 602-315-5671 |
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