Buying or Selling a Home/buying a second home

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Expert: - 5/28/2008


Question
Mr. Dennis,
I bought a condo a little over a year ago (bad move i know)But i would now like to buy a real house and rent my condo.  How do you do that for as little out of the pocket as possible.  i have excellent credit and a good income but i don't have money to put 10-20% down.  Could i buy a bank owned or a foreclosure.  i am an engineer so non structural/electrical repairs are ok

Thanks
Mike

Answer
Most RealtorsŪ have a list of bank owned houses or a lead to a foreclosure or pre-foreclosure, Mike. With you having good credit and good income, you are sitting in the catbird seat. You can get yourself a good buy somewhere, someplace, even though you have little or no down payment. There is a bank-owned house somewhere that has your name on it. And you can negotiate yourself a good price for it.

I wish you well.

Dick Dennis

Buying or Selling a Home

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Dick Dennis

Expertise

With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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