Answers by Michael Delehanty

You are in an interesting position but I'm sure it can be worked out well. If your sister stops making payments, the home could go into foreclosure and you would have a hard time stopping it. On the other hand, if you decided to sell the home, the mortgage would be paid off first and the remaining equity would go to you. So you both should probably get some legal help to be sure she is compensated properly when the home is eventually sold unless you are absolutely willing to share her part without a legal document in place (not recommended).

You could be eligible for alternative financing but the rate could be higher than average. Your best bet is to talk with a great local direct lender and see what type of loan options are available. You may not have many options but it's worth pursuing.

There is a lot to discuss here and you should probably begin with a great local agent who can guide you through the process. I have done a few short sales already this year and I promise there are more to come. The biggest issue is just how short will you be and if it's too much to cover in cash, then will the bank give you an approval if you are still current on the payments. If you want a recommendation to a great local agent, I may be able to give you help finding someone. I know a few in your area.

The answer is so market specific and can be heavily influenced by the space rent. My suggestion is to look at recent sales in your park and that could give you an idea of how to price. If the mobile is located on a separate parcel and not tied to a park with space rent, then you should likely reach out to an agent well versed in mobile and manufactured homes. I have some knowledge about them but being in the San Francisco market is so different I'm not sure I can give you accurate pricing information. Just the next steps to find value.

Never let a deal go bad over $5000. In the end, if you want to the house, you will be hurting yourself if you walk away now.

Several years ago, I went with a buyer client to do a final walk through and we discovered a huge dent in the garage door. I called the other agent and they claimed the dent was there all along and there is nothing that can be done at that point. Thankfully, I'm good about taking photos of the property during inspections and had a good photo of the garage door in perfect condition from a few weeks earlier. I sent over the photo to the agent as asked if he would like have the seller give $1500 to my client now or delay the closing so we can sort out the amount later - for a higher number. It got settled within the hour. I tell you this because you are just looking to be sure the home is in roughly the same condition as when you first saw it. If it's dirty, just ask your agent to pay to get it cleaned. If something really is broken, then ask your agent to find a way to get it fixed and paid by the seller.

Willa, Every market is different but overall, mobile homes will not appreciate the same way as a condo or single family residence. Plus, if it's located in a mobile home community, it's possible the rent amount for each space has gotten so expensive there is no room for appreciation. On the other hand, if a mobile home is what you can afford, then it could be a good option for you, though not guaranteed to be better than simply renting.

This is an excellent question and congratulations for paying off your mortgage. I'm not necessarily well versed in Washington real estate but I did grow up in Spokane and felt compelled to answer your question rather than send some standard ai response. As stated by another agent in this group, you should reach out to a local Title company and get a prelim pulled for your home. Most likely, it will show there isn't a lien with the mortgage company against your property. If there is still a lien showing, the the Title company can request a payoff and everything should line up ok. A great local Real Estate agent can get this started for you if you don't know a Title Company. I would make this the first step in selling your house so it's all sorted now rather than later. Good luck.

Great question Own and congratulations for paying off your mortgage! I'm not necessarily well versed in Washington State real estate law but I did grow up in Spokane and wanted to offer an opinion on what you can do rather than just post a random ai response. As stated by another agent in this thread, you should as a Title Company to pull a prelim on your house to see if there is still a mortgage lien filed against the home. I would think there isn't and if that is the case, you can proceed with the sale. If the lien is still there, and it could be, then the Title Company can order a payoff which should clear up anything issue with the past mortgage servicer. My suggestion is to make this the first step in selling your home and to ask a great local Real Estate agent to get you in touch with a Title Company. Best to get this all taken care of now rather than doing is once on the market. Good luck. It will work out fine.

Simon, simply cancelling your agreement should not be an issue but you do need to discuss with your Real Estate agent and the cancellation needs to be signed by the broker or managing officer. If you only want to cancel without the thoughts of selling in the near future, you should be aware if there are any fees owed to your agent if cancelled. For example, are there clauses that say you must reimburse for marketing or fees or staging if cancelled. Look over the agreement to see what was included and then proceed as needed. Good luck.

I'm afraid this is nothing more than click bait. You don't really understand what Socialism means and how it could affect the country.

I'm afraid this is nothing more than click bait. You obviously dont' understand what a Socialist movement means for this country and are only trying to get people upset about something.

The real truth is that you most definitely can sell on your own. And saving $12k sounds great until you look at the numbers and realize just how much money "for sale by owners' leave on the table. You might save a little on real estate fees but will very likely get far less for the home than if using an agent. Think of the agent as an investment in your sale and focus on how much you get after fees rather than what you pay in fees along the way. Id prefer to net more and I'm sure you do too.

Gary, Since none of us know your situation and all of the details surrounding your divorce, it is hard to make a good call on what you should do next. If i knew more, I could offer much better advice. However, I can tell you to please do not consider selling to a cash buyer - especially one that advertises they buy local homes for cash. You will get a fraction of the real value regardless of what you are told up front. i know how these companies work and it won't be good for you or your soon-to-be ex wife. Find a great local agent or ask for a referral and get that person mobilized immediately to get your home on the market. I hope it works out ok.

Many people talk about pricing correctly and preparing your home correctly and they are giving you good advice. But I'd like to offer two more important things to consider. The first is using the correct agent to sell your home. The agent that advertises the most isn't necessarily the best for you, nor is the agent with the largest team or the one that actually sells the most homes in the area. The best agent is the one you feel most comfortable with and will get you the best results. I say this because some Real Estate teams are amazing and do a great job but most are not great at customer service and don't really do a solid job for the client. The trick is finding the agent that is best for you. The second thing I will mention is actually the most important and that is to get inspection reports up front. I know it's an investment but it gives you insight into the home and allows for some updates or repairs if the reports warrant it. You can then accurately price the house based on condition and it takes nearly all of the repair negotiation out of the equation. Makes for a more solid buying experience for everyone. I know most sellers wont do inspections, but in my area (San Francisco East Bay) it's the gold standard and it makes Real Estate so much better.

Jen, It's hard to give you a final answer as to what is best because we are doing the pros and cons exercise just like you. New houses are not necessarily perfect so you might be dealing with some punch list items, even if the builder is reputable. Few new homes have back yard landscaping and the houses are typically very close together. If this is all ok for you, then consider HOA's are really the Evil Empire. It's not that the rules are impossible to follow, it's that they are limiting and the people put in place to manage are often not qualified or they are prone to abuse power. I've dealt with numerous HOA's over the years and none of them were good. If you feel like living under an HOA is ok, and all of the other things are ok too, then a new house is a good option for you. Otherwise, the older home is likely a better choice but only if it is remodeled and in top condition. Based on the fact you are thinking of a new build, you certainly don't want to purchase and existing property and be faced with a long list of maintenance items or repairs.

Lacey, Ive been in this situation many times over the years and it's amazing to me that agents dont' understand some of the basics when it comes to writing strong offers. Of course, this is only my opinion and I'm confident there will be agents that disagree with me but there are some things you can do to make your offer stand out. 1. Offering a quick close can be a benefit but only to a certain point. Offer 21 days but then also show you can extend that time if it helps the seller. 2. Offer a rent back for a reduced rate or free if you can afford it. If the seller wants more than 30 days to rent back, then you can set up terms to work for both parties. 3. Never ask for repairs (like section 1 clearance) as part of the offer. Most buyer's won't ask for repairs up front so follow that path. 4. Remove the appraisal contingency. This works best if you have more than 20% down payment. I can't elaborate further here but your agent can help guide you through the process. 5. Use a strong local lender. I cannot express the importance of having a good lender on your side. If three offers come in and they are all similar but one is using BofA, one is using Rocket and the other has a strong local lender. The buyer using the local lender wins. Every time. 6. On the topic of lenders, get your lender involved in the offer process. Have that person call the listing agent to vouch for you. 7. Include proof of funds for the downpayment as part of the offer and also maximize the amount you make as the initial deposit. In our area, the typical amount of the ernest deposit is 3% of the purchase price. Do that rather than offering $1000 as the deposit. 8. Make sure your agent is local to where you are buying. Out of area agents get crushed in competitive markets. I'm sorry, but its true. 9. Find out the hot buttons for the sellers and try to meet them. For example, the seller wants a quick close with no repairs. Make sure your offer tells them that story and that is where your agent can shine or sink. 10. Have your agent look more closely for off market deals and secure one before it comes to market. You can also pursue those that refuse preemptive offers as sometimes those work out well. 11. My final suggestion, there I have many more I won't mention here is to give the seller ample time to respond. Every offer I've received that gives us 24 hours or less to respond is usually refused. Don't push the sellers and be respectful. Hope this helps.

I know most people will say no to your question - it isn't dumb to buy a condo but that isn't always the case. I don't know much about your market, but in my area (San Francisco East Bay), condo prices are falling rapidly and HOA fees are steadily increasing which makes the buy equation much less clear and potentially a bad idea at the moment. And I would also argue that condo prices won't rise nearly as fast as single family homes. However, there is a cost to ownership and if condo prices in your area are stable, and you can afford the payment, it is potentially a wise move to purchase. You will gain equity by making the payment and if things work out, you might be able to leverage the condo into a rental in a few years and that would be your first investment property while you have saved to buy something better.

Wendy, one quick way to figure out the value of your home is to check Zillow to see what they say. Of course, we all know Zillow can be wildy inaccurate so this would just be a starting point. Many local agents run "how much is my home worth" ads on social media so you could also use one of those tools to get an idea. However, if your home has not been on the market for several years and because it was built in the 1960s, it's possible the only way to get a good sense of value is to contact a local agent for an opinion. One thing to remember, an opinion of value from an agent can differ from appraised value. The agent is typically higher. Good luck.

Hearing interest will rise and knowing they will rise are two entirely different scenarios. If you are good with economics and feel certain rates will rise to help offset our sticky inflation, then selling now could be a good idea. But if you are simply basing the thought of higher interest rates on social media experts, then I might take a pause. The other thing to consider is the cash flow potential of your rental as well as how desirable of an area it is to investors. The time of year to sell can also have an effect since shopping for homes in a heavy snow storm is challenging. My opinion is to focus more on what you want and need as an investor and worry less about the overall market. Timing in Real Estate is difficult and making moves based on perceptions can lead to poor results.

Selling "as is" isn't the most important factor. A bigger question is if there is enough equity in the home for your to sell without it going short. And since you are asking the question, I'm assuming the mortgage balance might be high as compared to what you could get for the house if you sell. I wish I was in your area to give you some good advice regarding the next steps but this is where you should find a great local agent to guide you through the process of selling. It might be a good idea to sell "as is". It might be a good idea to make some minor updates. And if you find you are unable to cover the mortgage balance when selling (short sale) then an agent can help you navigate those hurdles as well.

It's so important to distinguish between an agent underperforming and the home underperforming. It's possible you are in a competitive market where buyers are finding plenty of options so sellers are finding the buyer traffic is lower and the house sits on the market for an extended time. I recently went to dinner with a friend and he was having trouble selling his home in another State and after talking it out, we determined the agent was actually doing a good job but the home was just not attracting buyers at the moment. However, the agent was just doing a good job and his home warranted an agent doing a "great" job, which means some things need to change. For you, we you feel like your agent is not doing what is needed to get your home sold, then ask the agent for a weekly update on what is happening. Ask for feedback from people who tour the property. Ask for a specific marketing plan if that hasn't been presented already. Also, if you are coming up on the three month mark and you are simply not happy with the agent's work, then have a frank discussion about what can be done better or move on to another agent. Here is a secret: For whatever reason, if a home sits on the market for an extended time, the next agent to take the listing often sells quickly and sometimes for a higher price. j

It seems like most of the answers here are to suggest you add a fresh coat of paint to your home and that is because it's good advice. However, be sure you aren't covering up in damage which should be disclosed and also try to avoid painting the walls a bright white unless the house is better with bright white paint. I'm seeing more and more properties getting prepared for market by randomly painting the interior one bright shade of white and it does not help buyers love the house. Instead, work with your agent or stager to find a color that best matches your property. Just my two cents.

Josh, I"m not necessarily an expert on vacation properties, but I know selling during the peak season would be challenging and potentially harmful to your rental clients - assuming you rent out the home. If you dont' rent out the home, then selling during peak season might actually be advantageous because people on vacation love to browse properties and envision also owning a home in that area. I know I do that when I travel with my family. If the area gets snow, then try to avoid selling while there is snow on the ground and it also seems like selling right at the end of the tourist season will not net the highest price. Therefore, your two best options are probably right before the peak season starts or during the peak season if the property does not get rented to tourists.

Chris, This is such a good question and I wish more people would think like you. If you are hoping to buy in the next year, this is the best time to reach out to a mortgage broker to begin the process of getting approved. Why? Most people don't realize the FICO score you find for yourself online is typically different from the FICO score pulled by a lender. So once you know your real score, the lender can often give you guidelines to how to improve your position to purchase. It's ok that you are still a year out - we frequently work with clients who are a year or two away from buying or selling and that is part of the process. Plus, a good lender may be able to assist with getting your FICO scores improved and that lender won't charge for the service. Also, remember that a car payment that is within 6 to 10 months of getting paid off won't count against your debt so again, it's important to consult with a lender to know exactly what you should do to get yourself best prepared to purchase. Good luck.

I don't want to be the one to deliver bad news, but it seems like it might be all over for you and your home. There would have been dozens of outreaches to you that all went unanswered and the home eventually sold at auction. The most important question now is how it was sold. If the house was purchased by an investor on the courthouse steps, that person will likely hire someone to help get you out of the property. If it was sold back to the Servicing Company, you may have some leverage against that company and they might be required to offer you something called "cash for keys" which is essentially a cash payment to help relocate to another home. Its usually not enough and usually too fast and since I don't know more specifics about your situation, I'm just guessing based on how the foreclosure process works here in Northern Calfornia. Lastly, if the home has not actually reverted back to the Servicer or Lender, then you might be able to make the past due payments to get caught up but that probably a big amount of cash and it might not be feasible. I'm sorry this happened. If i were in your shoes, I'd be looking for more advice locally.

The first thing you should do is consult with a local agent to determine how your home stacks up against others in the area. You don't want to over improve your property and you certainly don't want to be in inferior condition as compared to others. You might even walk through a few open houses on the weekends to see how your house compares to those on the market. Then, work with your agent to figure out what should or could be done. Paint might be a great choice. Maybe you just need to clean and do some supplemental staging. Remember that buyers like beautiful properties and are especially focused on the kitchen and bathrooms so that is probably the best place to start, but again, a full kitchen remodel might not be in your best interest.

I'm not very familiar with the Las Vegas market right now but I would say local market conditions will affect your ability to sell much more than an overall recession. For example, in our area (San Francisco East Bay) the market has been very challenging for a while now while other areas of the Bay have been super hot. And in an odd twist, higher price points are selling better than lower cost homes. The one true factor regardless of market forces is to prepare your home as best as possible for a sale. If your home is in good condition, then fix anything broken and stage to perfection. Take professional photos and videos and market the home everwhere. If your house is not in good condition, then lean into affordability and get a great agent to guide the way for you.

I know one common mistake is to listen too closely to either friends or family. I know they all are looking out for you but they can also influence your decisions and that is not always a good thing. The first thing to do is talk with a few Real Estate agents to see what they tell you about the current market. If you like what that person is telling you, then listen to your agent's advice but also be sure the agent is telling you information that is helpful and beneficial for your path to ownership. A few things I would recommend right off. 1. Don't buy without an inspection contingency in place. Then review the inspections with the realization not everything will be perfect. 2. Use a local direct lender. Avoid big banks and brokers who are not direct lenders. Never use an agent who is also a lender. 3. Don't ask the listing agent to write the offer for you - have your own buyer's agent working for you. 4. Your first house is just a step in the process and most likely won't be a castle. 5. When you are doubting things, remember the person who gets the house is most likely the person who paid more than everyone else in the world for that property. 6. Understand you probably won't be having a dinner party for the neighbors and bragging about the great deal you got. Instead, you will be admitting to the high prices and the neighbors will give you a high five for helping them all increase the value of their own homes. There are many others, these six just came to mind.

I can think of many areas in California where you can buy land and do pretty much whatever you want within reason. The key is to find property for sale outside normal living areas but remember that the farther out you go, the more difficult it is to get services there. And depending on how far out you go, you might still be required to apply for permits for some things like a septic system or well. A local agent well versed in land can better advise.

If you are financially able to purchase first, then that is the best path forward. Then you can move into the new home and sell your existing property vacant, which will probably sell quicker and for more money than if you are still living there. If you have a lot of equity in the house, you might be able to use a bridge loan to assist with the purchase but it all depends on your current financial situation. Bridge loans and be expensive though they take some risk out of the equation. One big issue with selling first is the timing to find your new home in the new City. Even with a Rent Back, your timing could be very short and that process if pressure packed to find the right property. On the other hand, if your new City is slow and with lots of inventory, then the timing issue may not be much of a problem.

People who advertise they buy houses for cash are probably not a scam. I know many investors who use that strategy and none of them are scams. However, none of them have your best interest in mind and you will end up selling your home well below market value. These companies are working on a model where they try to buy homes for around 65 to 70% of market value which allows them to flip and earn a nice profit. That is why they all buy off market properties only and never purchase on the MLS. For you, it would mean getting the home sold quickly but at a greatly reduced price. Because of that, I highly suggest you avoid the entire process and hire an agent to get your home sold quickly. If it is priced right and prepared properly you will net much more in the end and you will be surprised at just how fast it can all get done.

Many Real Estate agents will also work with mobile homes but they are different and not every agent is up to the task. There also may be a local agent that specializes in mobile homes but be sure to review any specialty agents to be sure they are doing a good job for their customers. Many don't. As for value, that can be heavily influenced by the amount paid to the park space. In our area, some space rents are as high as $1700 per month and as low as $850 per month - which is a substantial fee. As for rates, the commissions for mobile homes will be all over the place so be sure to talk with more than one agent. For example, if the home is valued at $200k, you will probably find agents willing to work for 3%. If its just $100k, agents may want 5% or more depending on how difficult it might be to sell. Many mobile homes take a very long time to find a buyer (like 200 days) but again, it is dependent on your location and space fees.

This is where you definitely need the help of a local agent. If you review what other homes are selling for in the area and what type of condition those homes are in, that could help you determine the need to update your kitchen. In general, kitchens give you the best return on investment and often times, the value of the house will increase beyond the costs of upgrades. However, construction costs are very high and it's easy to blow a budget so discipline is key. I wish I could offer more but your first step is learning about your market with the help of your Real Estate agent.

If you are referring to a second vacation style home, then you will find all sorts of resources with a great local agent who specializes in the community. They will get you set up with a knowledgable loan broker who can assist with the approval and it will be similar to the process of buying your first home. The one difference will be if you plan to rent out the property while not in use with your own family as that can help you qualify for a higher purchase price but local customs might also restrict short terms rentals. If your plan is to buy an investment property, which is sounds like that isn't your intention, then again, find a great local agent and that person will find you a good loan broker. Here is one thing to remember: If you have a pre existing relationship with an agent near you now, reach out for a recommendation. I refer my local clients to people all over the country since I have relationships with other people in almost every major market in the US

I think you were smart to post your question to this platform but I'm not sure any of us really know the ramifications of notifying the mortgage servicer about the current situation. Plus, we are all afraid of offering bad advice. So my suggestion is to contact a few local mortgage brokers to ask for guidance from them. I believe each lender will have different criteria but hopefully a local lender can assist in determining what you can do going forward. The good news is that its been six years already so you do have some history on your side.

There are a lot of generalizations in Real Estate and one of them says the first offer is typically the best offer. Of course, that isn't true all of the time but the buyer who submits first usually has a lot of interest in the home and may write a great contract. I'm actually surprised your agent has not been discussing this situation with you because you did have options though you may have missed the window at this point. If you want to be sure you get the best contract, then put your home on the market and set an offer date 10 to14 days after it's first listed. Using this method often times gets you multiple offers to consider and if a buyer writes a strong pre emptive offer, you have the opportunity to select it. The bad part of this strategy if no offers are submitted. At this point, since you have a strong contract in hand, you should either accept or send a counter offer to improve the terms. But if you accept the offer, then there really isn't a way to accept a better contract later unless you put another buyer in the backup position and then move over to that second buyer if the first buyer doesn't perform as per the contract terms. Lots to think about for sure.

I'm located near San Francisco and I would say are markets are very similar. In regard to a pool, most buyers are neutral with many thinking they are a nuisance and many thinking they are amazing so even if the pool is nice, it rarely adds to the value of the home. The flip side to that equation is a bad pool usually takes away value since most buyers will immediately consider the costs to either remove the pool or rehab and both options are costly. My initial thought is to just take it out since it's not a great pool to begin with and it's condition is certainly an issue.

Vacant homes almost always sell quicker and for more money than occupied properties. This is especially true for homes occupied by tenants. I'm not sure where your home in Texas is located but if the property has the "best" use as a rental, then you are much better off selling the house as tenant occupied because it can help buyers qualify using the additional income. But in most cases, homes are best used as an owner occupied property and that is when the home should be vacant, staged perfectly and marketed by a Real Estate professional.

As a consumer, you have the right to change lenders during escrow but you should definitely discuss with your agent first. About a year ago, a buyer on one of my listings in Pleasant Hill, California changed lenders during escrow and didn't tell his agent or anyone else involved in the transaction. When it came time to close, the new lender suddenly wasn't able to generate loan docs and that is when I discovered the buyer had hired a new lender which was going to cause a delay in closing. To complicate matters, the buyer had a preplanned vacation oversees and the delays started to cause problems for my seller clients. My response? I filed a notice to perform and then sent a contract cancellation to the buyer which meant had to make a choice. He could accept the cancellation and lose around $25,000, which was his initial deposit, or he we gave him the option of continuing with the purchase but pay a daily fine to my clients for the delays. In the end, he paid the fines for a total of $5000 which made my sellers happy and that was fair compensation for closing so late. Moral of the story: be careful of how you proceed with changing lenders.

James, the first thing to ask is if your employer will cover any losses you might have if you sell your property this quickly. Relocation fees might help you if you cannot recover your costs if you sell. Of course, there might be a chance you will be ok after 3 years but the market in most areas have been soft for a while now so losing money is a possibility. I helped a great client purchase a condominium in Walnut Creek, California a few years ago and she ended up with a short sale after being forced to sell this last fall. Prices for some types of home have dropped dramatically which means you need the help of a great local agent to assist you with pricing and good marketing to help keep your losses to a minimum. And hopefully that wont' happen and you will make a profit if you ultimately decide to sell.

I've seen people waiting for prices and/or rates to drop for the last 15 years. Most of them have either never bought a home. If it makes sense for your family to move, then don't get too hung up on rates. It's much more important for you to determine just how much you can net from a sale and then decide if you should proceed. It's true that high rates are causing affordability issues for buyers but there is nothing that suggests rates are going to drop anytime soon. Don't get caught in the waiting game or your life could be in limbo for years.

Pedro, I'm so glad you asked this question because it's one of my favorite topics to discuss. In general, people like to types of properties. 1. Perfect homes: If a property is nearly new or remodeled to a high standard and is located in a great area, people will jump at the opportunity to purchase. Many refer to this as the Unicorn of Real Estate. 2. Full fixer: people also love the idea of buying a home needing lots of repairs and sometimes you fill find several investors or DIY types will bid up the price quite high because they see the value and opportunity in a fixer home. Fixers are one of my personal favorites and I've bought a few with the most recent in the East Bay of San Francisco. The rest of the properties are somewhere in between these two extremes and constitute a majority of homes that are for sale. One of the worst types of homes are those that are built in the last 20 to 30 years and are functionally ok but need everything because the house is so dated. It sounds like your home is leaning towards the fixer style of property so you may not need to make any updates. And because it was built in the 1970s, it's possible the build quality is decent but cosmetically its a disaster. Again, you might be sitting on something very valuable and a local agent can help you make that determination. Good luck. I hope it works out.

You are on the right track but I suggest you take one additional step. Instead of deciding between a big bank and local broker, instead, consider a big bank vs a local direct lender. It's difficult to give you all of the reasons to work with a local direct lender but the biggest has to do with underwriting. The big banks typically have centralized underwriting and delays in that department can get you into trouble in your home purchase. Local direct lenders have local underwriting and since many are also brokers, they have access to all sorts of great programs while keeping the underwriting portion near you. Think of it more as a partnership: you want great people to help you and getting the best service usually comes with local resources. Whenever I'm listing a home and reviewing offers from clients, those buyers using a big bank are not as desirable as those buyers using a local person. The offset is if the contact person at the big bank is a strong and seasoned loan person. Sometimes a seasoned loan person can override the restrictions of a big bank and actually give you great service so I can't say a big bank is automatically a bad thing. Please discuss further with your Real Estate agent to get a better and more detailed response.

I'm assuming the lending laws in Florida are similar to what we have here in California and those restrictions can make financing a mobile home somewhat tricky. It is typically based on the age of the home and how it is classified. Older homes, those built in the early 1970s will almost certainly be disqualified from financing and cash is the only option to purchase. Newer homes, which tend to be priced higher may be eligible but the lending community is limited and not always easy to find. My best suggestion is to ask the listing agent or your buyer's agent for a lender recommendation assuming the mobile will qualify for a mortgage. One thing to consider is in our area, most mobile home parks want you to submit an application with the part owner before writing an offer and a specific home. The park wants to be sure you are financially able to make the space fees and also determine if you are an owner occupant. Once that application is approved, then move on to getting lender approval. Again, your agent can guide the way.

I love this question and it really hits home for me on a personal basis. The answer is "yes" you can absolutely use a personal loan to supplement the down payment for for closing costs. However, please do not borrow without discussing your plan with your lender first. Debt ratios are critical in buying a home and you don't want to add debt if your ratios are tight as that could potentially ruin the loan application. On the other hand, there are many ways to get additional cash and your lender can help you with ideas. You can borrow from your parents, or siblings or take a cash advance at work. None of these will affect your credit report and are good options. On a personal note, my wife and I (girlfriend at the time) actually used credit cards to finance the downpayment for our first house. We took a $6000 cash advance on our cards to buy a home valued at $60,000 and I admit it was one of the boldest and best moves I've ever made in my life. I leveraged that property into the family home we have owned for the last 30 years. I say go big! Just ask your lender first....

I'm so sorry you had such a bad experience previously. Buyer's knocking on your door is unacceptable behaviour and I know I would not have been polite to anyone that did that to my home. One option is to buy your next home first and then sell your existing property while it's vacant. Another option is to not place a sign at the property but have it on the local MLS so agents know it's available but not the neighborhood. Plus, if you have the home listed with a local agent, there is no need to publish your phone number so all calls will go to that agent instead. Its their job and should welcome the phone traffic. Good luck.

If you and your wife are the owners of the property and your extended family doesn't have any financial interest in the home, then you are clear to sell since your family will not need to sign anything during the sale. Of course, I'm assuming there is a valid reason for selling without notice and you aren't breaking any laws. One very important issue to consider is how marketing will be done for your home. It's possible your family could see some Social Media advertising, they might see the actual sign in the yard and of course, they could stumble onto the Zillow listing if they are browsing homes in the area. Or a mutual friend could let the sale news slip so you might consider on "off market" sale or keep your advertising limited. As I said, tricky but possible.

This is such a good question and unfortunately, it's impossible to give you a thorough answer in this platform. However, don't think about broker vs big bank. Instead, you need to find a "direct lender" which means the lending institution you are using has their own funds to give to you. To clarify, a big bank is a direct lender but I'm not referring to a big bank. Instead, I'm referring to a local loan broker who works for a company that has their own money to lend to you. For example, in our area, I like to use CMG Mortgage because they are a directly lender but they are also a broker which means they have access to loan products both in-house and on the general market. Depending on the type of borrower you are (price range, first time, etc), the broker may find a program inside their portfolio or outside that works best for you and they have access to both. But here is the most important part of the equation: a direct lender will have the underwriting department either local or within the same office. This is extremely important since most loans fall apart in the underwriting process. But if the underwriter is local, she/he can work with your loan officer to keep the file moving forward while many files fail when the underwriter is on the other side of the country. Big banks have centralized underwriting and that is the problem. It is more than just getting great rates and low fees. Your loan company also needs to maintain a quick pace and communicate well and follow the guidelines of the contract. Without that, some buyers lose their dream home because the lender does not perform and the contract gets cancelled. Not sure this all makes sense so if not, ask your Real Estate agent for a suggestion to a great direct lender. Or reach out and I will give you some suggestions.

In general, buyers like two types of homes. The first is the perfect property fixed up to perfection. The second is an old home that has not been touched or updated in 40 years or more. Those that are somewhere in between, which is the majority of properties, can be challenging as to best prepare them for market. If your agent says you will get a better sale if you update your kitchen, ask how much are you talking about. For example, if you spend $40,000 to update your kitchen and you will net $80,000 to $100,000 more on the sale, then you might find a way to borrow to get the work done. You could use Compass Concierge or some other product to get the cash if that sounds good to you. However, if you are going to spend $40k to net just $60k, then I don't think the risk and effort is worth it. Be safe, and just sell as is though you might consider a quick coat of paint since that can have a big impact. One other thing to note, if you just don't have access to the $ to update your kitchen, please don't feel bad about it. Just sell the home without updates and take the profits available to you. Don't let an agent pressure you into something you don't want.

Since i dont' know what the inside of your home looks like, I can only speculate on some of the issues. Is it dark furniture? Use staging that is better. Is it a lack of interior lighting? Add some lamps. Is it heavy blind or tall shrubs? Fix those. You could also add some lights to the back patio so it radiates through the windows. Lastly, you can paint the walls a lighter color if they are currently dark. Good luck.

You should be very careful co-signing on a home with your cousin because you are correct about what might happen if he stops paying the loan. However, if you go into the contract correctly, you would also be a co-owner of the home and you could possibly sell to get back your money if your cousin defaults on the loan. However, I feel the bigger issue is the impact it will have on your credit. Even though your cousin makes the payments, the full amount will show on your credit and that could hamper your ability to buy your own home (or some major purchase) due to credit limitations.