WONDERFUL RENTAL OPPORTUNITY IN GREENWICH FOREST...RENOVATED & READY TO MOVE-IN. BETHESDA MAGAZINE CALLED HAMPDEN LANE "ONE OF THE PRETTIEST STREETS IN BETHESDA"...
Opportunity awaits! NY-style renovation of farmhouse--gorgeous top to bottom! Attention to all the details, why wait? Minutes to Pot Village, Kentlands, or Harris Teeter...
Beautifully maintained & renovated 6 Bdrm/5.5 Bath home in sought after community w/ great amenities! Hdwds, high ceilings, updated Kitchen, huge formal Dining Rm.Fully finished WO LL...
1 of 1 photos , DC For Sale $254,800 1 Beds / 1 Baths
Open Sun 8/08 1-4pm 730 sqft w/freshly painted neutral colors, parquet floors in LR replaced a few years ago, new w-to-w carpet in the BR. Mini blinds are on each of the large west facing windows...
A fabulous home, ready to move into! Sited on a half acre of land, this home has it all. Eat-in Kitchen, open living room and dining room, 3 BRs on main floor...
Have you heard of move-in ready? This is it! Fantastic 6BR/3BA colonial, each room flows to the next. Hardwoods thru out main & UL. Kitchen & all baths updated...
Innovative home-financing arrangements that help sell a property defines Creative Financing.
Do creative financing techniques really work? They have probably have all worked somewhere for
someone at least once. The point isn't if they will all work for you. The point is to know what is
possible, so you can find your own creative ways to invest in real estate. Below are several creative financing methods.
Land contracts are a great way to purchase real estate and without using a mortgage company. They are sometimes
called "contract for sale". This means the seller lets you make payments, and delivers the title upon
payment in full. Sometimes sellers will do this because they can charge a higher interest, and higher price.
You can also finance a BETHESDA real estate transaction using hard money lenders. They specialize in short-term
loans at high interest. You typically use this type of financing for real estate you are going to purchase
and sell quickly such as a fixer-upper. Often, you can get
the money fast. The interest rate might be higher than a typical mortgage company but buyers who use this method
normally don't keep the property for a long time and are hoping to turn a quick profit.
Friends and family are a great way to finance BETHESDA real estate if you make sure to keep it all business.
Another method of creative financing are No-doc and low-doc loans. No (or low) documentation of your
income or credit required. Again, you can find banks that do these online now. The catch is that
you will only be able to borrow up to 80% of the purchase price or property value. If you have 10% in
cash, you might be able to borrow the other 10% from a friend or the seller.
Seller-carried second mortgages. Sometimes a bank will loan you 90%, and allow the seller to
take back a second mortgage from you for 5%, leaving you needing only 5% for a downpayment.
Note BETHESDA real estate buyers. The seller needs cash. He raises the price, and sells to you for $100,000 with no money down,
taking back two mortgages from you for $90,000 and $10,000. He arranged (or you did) for a note buyer
to pay him $80,000 cash for the first mortgage at closing, getting him the cash he wanted. You pay
two payments now, one to each note holder.
Get a loan on other property. Interestingly, if you take out a home equity loan for a vacation, and then
forget to use it for that, you can use it for the downpayment on an investment property, without
violating the rules of the bank that gives you the primary mortgage. In other words, you got in
with no cash of your own.
Partnerships. For bigger projects, you could arrange for five investors to each put money into a partnership,
with your share being the management responsibility instead of cash.
As you can see, creative financing when buying BETHESDA real estate comes in many shapes and forms.
Try innovative home financing arrangements, land contracts, partnerships and friends and family. You'll be in a
BETHESDA area home before you know it!
Property Inspection - Regardless of what the inspector may uncover, you shouldn't be
overly concerned about the actual home inspection
Pick An Offer - Picking among several offers isn't always as easy as choosing the highest price, especially in hot markets.
Open House Expectations - Was vacating your home for four or five prime-time hours worth the
inconvenience?
Your Open House - Was vacating your home for four or five prime-time hours worth the
inconvenience?
Your Open House - Public open houses may be more beneficial for the
agents themselves than for the home sellers.
Marketing Info - Your broker's marketing efforts and considerations will
include advertising, showing the property, how long the house has been on the
market and whether you're buying another home.
Selling My Property - The age-old observation that "you never get a second chance to make a first impression" certainly applies when it comes to attracting buyers to a for-sale home.
Getting BETHESDA Real Estate Ready - A
house that "sparkles" on the surface will sell faster than its shabby neighbor,
even though both are structurally well-maintained.
Seller-carried second mortgages. Sometimes a bank will loan you 90%, and allow the seller to
take back a second mortgage from you for 5%, leaving you needing only 5% for a downpayment.
Equal Housing Opportunity