Відео

The winning bid on a housing auction is not necessarily the final price. There are often additional fees and costs associated with purchasing a property at auction that will be added to the winning bid. Some of these are: - Buyer's premium: A percentage of the winning bid that is paid to the auction company. - Closing costs: These can include fees for title search, appraisal, loan origination, and other expenses related to the transfer of ownership. - Unpaid taxes or liens: The buyer may be responsible for any outstanding debts on the property. - Repairs or renovations: If the property is in need of repair, the buyer will need to factor in these costs. It's important to research the specific auction terms and conditions to understand all potential costs involved before bidding on a property. You can usually find this information in the auction listing or by contacting the auction company directly. Hope that helps.

@@theinvestorsedge thanks! What professional can we contact for finding out liens that may be on the property before hand?

@@Yourstrulyleah You would want to reach out to a title company or real estate attorney to help you with that.

Schedule your free consultation with one of our Investment Associates using this link: www.theinvestorsedge.com/learn-more-yt

Thanks Savannah! We appreciate the feedback 😃

Thanks Donna 😃

We are a real estate investing company. Sounds like you are talking about trading in the financial markets. Not sure if you posted to the wrong video? If you would like to see how we can help you with real estate investing schedule a free consultation with us at www.theinvestorsedge.com/learn-more-yt

The Federal Housing Administration (FHA) does not have specific requirements regarding mold in basements. However, FHA appraisals do require the reporting of any adverse conditions that may affect the health and safety of occupants, the property's ability to serve as collateral, or the structural soundness of the home. Here's what you need to know about mold in basements and FHA appraisals: Reporting: If an FHA appraiser observes mold during the appraisal, they are required to note it in their report. Recommendations: The appraiser may recommend further inspection by a qualified professional and/or remediation of the mold issue. Responsibility: While the appraiser will note the presence of mold, it is not their responsibility to determine the extent of the problem or provide solutions. It is ultimately the buyer's responsibility to investigate and address any mold issues. Loan Approval: The presence of mold does not automatically disqualify a property from FHA financing, but it may need to be remediated before the loan can be approved. Here are some resources for further information: Mold-Related Issues and FHA Loans: www.fha.com/fha_article?id=2869 FHA Appraisals and Mold Issues: www.fha.com/fha_article?id=667 Recommendations: Home Inspection: It is highly recommended that buyers obtain a professional home inspection to identify any potential issues, including mold. Mold Remediation: If mold is discovered, it is important to have it remediated by a qualified professional before closing on the home.

Hi Vickie, everyone's situation is different. That's why I shared multiple ways to do this strategy. You can get a term policy that is convertible, but it is a little more expensive that regular term life insurance. If you only qualify for a $5,000 term policy than the term insurance strategy might not be a good fit. It's all about weighing your options and making the best decision based on your circumstances.

No, the winning bid on a housing auction is not necessarily the final price. There are often additional fees and costs associated with purchasing a property at auction that will be added to the winning bid. These may include: - Buyer's premium: A percentage of the winning bid that is paid to the auction company. - Closing costs: These can include fees for title search, appraisal, loan origination, and other expenses related to the transfer of ownership. - Unpaid taxes or liens: The buyer may be responsible for any outstanding debts on the property. - Repairs or renovations: If the property is in need of repair, the buyer will need to factor in these costs. It's important to research the specific auction terms and conditions to understand all potential costs involved before bidding on a property. You can usually find this information in the auction listing or by contacting the auction company directly. Additionally, there are different types of auctions with varying terms. For example, in an absolute auction, the property is sold to the highest bidder regardless of price. In a reserve auction, the seller sets a minimum price that must be met for the property to be sold. Hope that helps.

Sorry about that. We now have a recording studio and quit doing these types of videos. Thanks for you patience.

Agree

Congrats on finding a good deal. Definitely find out the extent of the damage from the structural engineer to see what the cost will be to fix it.

@@theinvestorsedge Just got the report. Suggests better grading and extension of gutters. Apparently they are draining directly into the corners of the home. Says walls are average for a home of this age and no major bowing should be expected as the basement is only 4 feet below grade. I'm buying the house!

@@SwagAli Congrats! That's great news.

DSCR loans have a lower interest rate than hard money loans, but a higher interest rate than a traditional non-owner occupied mortgage loan. While the traditional side is a little cheaper, you will be limited on the traditional side because the qualification is based on your credit and income. We work with multiple lenders to offer DSCR loans. You can get a free consultation with one of our Investment Associates to learn more about our DSCR loans by filling out this form: www.theinvestorsedge.com/learn-more-yt

Thanks 😃

When a bank "wins" an auction for a foreclosed property, it means that no bidder offered a price that met or exceeded the bank's reserve price (the minimum amount they are willing to accept). In this scenario, the property goes back to the bank and becomes a real estate owned (REO) property.

Mortgage protection insurance (MPI), also known as mortgage life insurance, is a type of insurance policy designed to pay off your remaining mortgage balance if you die before the mortgage is fully paid. This can provide financial security for your loved ones, ensuring they won't be burdened with mortgage payments if you pass away unexpectedly.

You will need to talk to your lender or appraiser to see if your property qualifies, but these are some of the FHA guidelines. Overhead Power Lines: FHA guidelines stipulate that overhead electric power transmission lines cannot pass directly over any dwelling, structure, or related property improvement, including pools. If such lines exist, they must be relocated for the property to be eligible for FHA-insured financing. Drop Lines: Electrical drop lines (lines connecting the main power line to the property) cannot pass over any water-based feature of the property, such as a pool or outdoor hot tub. Easements: If the dwelling or related property improvements are located within the easement area of local distribution lines, the mortgagee must obtain a certification from the appropriate utility company or local regulatory agency stating that the relationship between the improvements and the lines conforms to local standards and is safe. Additional Considerations: Marketability: Even if a property meets FHA guidelines regarding powerlines, the appraiser must still consider the property's marketability. The proximity of powerlines, especially large transmission lines or substations, could impact the property's value and appeal to potential buyers. Fall Zones: Although no longer a specific requirement, appraisers must consider the potential safety issue of a property being located within the fall zone of power lines. If the property is deemed unsafe, it may not be eligible for FHA financing.

That stinks about getting turned down. Sorry, but we don't have a good life insurance company based on overcoming health problems and age.

Every situation is different. If you are older than 60+ you might not be able to get term life insurance, so maybe MPI would be the way to go. This is just a recommendation from Ryan based on his situation. You should always make your own decisions based on your own circumstances. Hope that helps.

Since your contract has expired, it's too late to do an addendum to extend the contract. You would need to do a new contract. We recommend consulting a real estate attorney about the possibility of being sued based on the terms of your contract. It depends on your state and the contract terms that you signed.

Awesome, that's great to hear 😃

Thank you!

you mean you have an accepted offer and now the houses in your area are going down, that a hard one i do not see nay videos on this at all... they all do the same video, what does happen if you have an accepted offer ...that a good question i have looked and there are no vidoes to help i have seen

If you put in an offer and found that housing prices are going down in that area, you should work to renegotiate with the seller by showing them the appraised value and why it's not worth the initial offer. See if they will work with you based on current market values. Show them the numbers and why you won't be able to make any money on this as a real estate investor because of the market going down. Hope that helps.

@@theinvestorsedge thank you it not an investment property i plan to live there but for about 5 years only... as well the appraised value was above asking however, I am looking at sales 45 days later and a letter that say i can not even get the property insured, for a reasonable price...it had afire 10 years ago or becasue itr was built in 1940...just not sure why..but if they do not come down I will not buy it...157 t0 1500 or lower

@@tjlivejaxkson231 It might be worth getting a real estate attorney involved to make sure you can get the property insured.

It's highly recommended to consult with a real estate attorney in Georgia who can guide you through the process, ensure you comply with all legal requirements, and address any specific questions or concerns you may have. They can also help you determine the best option for signing your deed documents based on your individual circumstances. With that said these are some possible options to sign deed documents in Georgia from outside the USA: U.S. Embassy or Consulate: The most straightforward and reliable method is to visit the U.S. Embassy or Consulate in the country where you are located. They can act as a notary and witness your signature on the deed documents. Be sure to schedule an appointment in advance. Remote Online Notarization (RON): Georgia allows for Remote Online Notarization, where you can appear before a Georgia notary public virtually and sign your documents electronically. Ensure the notary is commissioned in Georgia and familiar with the state's specific requirements for RON. Notary and Apostille: You can have the deed documents notarized by a local notary in the country where you are located. Afterward, you will need to obtain an apostille, which is a certificate that authenticates the notary's signature and seal. This confirms that the notarization is valid in the U.S. and specifically in Georgia. Commissioners of Deeds for Georgia: Georgia has commissioners of deeds appointed in various countries. These individuals are authorized to administer oaths, take depositions, and witness signatures on documents for use in Georgia. This can be a convenient option if available in your location. Again, consult with your real estate attorney in Georgia to figure out what will work for your title company.

Ha ha, thanks. We now have a dedicated recording studio so no more filming while walking.

So sorry to hear that. That is terrible. You will need to have your real estate attorney to talk with your bank to see how long you have to stay in the house.

So sorry about that. We not have a dedicated studio ,so no more motion sickness.

It all depends on the contract with that private auction. You need to read the contract and see if they keep the buyer's premium or not if you back out. If you're having trouble figuring it out, we would recommend consulting with a local real estate attorney to make sure you understand the contract.

Sorry to hear about your situation. You definitely need to get legal advice on that from an attorney.

Are you asking if the mortgage protection insurance will stop if you pay off your mortgage?

Yes, you can technically buy a house with a non-livable violation sticker, but it comes with significant considerations and potential challenges: Challenges: Financing: Most traditional lenders will not provide a mortgage for a property with a non-livable violation sticker. You may need to explore alternative financing options like cash purchases or private loans. Repairs: You will be responsible for addressing all the violations listed on the sticker before the property can be deemed habitable. This can involve significant time, effort, and financial investment. Legal Issues: If the seller did not disclose the violations, you might have legal recourse, but it could be a complex and lengthy process. Considerations: Price: The property is likely to be sold at a significantly lower price due to the required repairs and associated risks. Investment Opportunity: If you are prepared for the challenges and have the resources to address the violations, it could be a profitable investment opportunity. Professional Inspection: It's crucial to have a thorough inspection done by a qualified professional to understand the full extent of the repairs needed and associated costs. Recommendation: Before purchasing a property with a non-livable violation sticker, consult with a real estate attorney and a contractor to assess the feasibility and potential risks involved. This will help you make an informed decision and avoid costly surprises.

Thanks for the feedback. We have a recording studio now.

Thanks 😃

We use paid tools. We have our own in-house software to do this. If you have access to your local MLS you could use that. If you would like to talk to one of our Investment associates to get more details on our software, schedule your free appointment at www.theinvestorsedge.com/learn-more-yt

Great question. We will do a future video focusing on the lender side. Thanks.

The first thing to do is to find your local zoning codes to determine the height allowed for structures in your area. These codes will vary based on where you live. Most cities allow anonymous reporting through online forms or through a code enforcement phone line. Ultimately, the anonymous part depends on the city that the property is located in.

Awesome, we're glad it helped.

www.theinvestorsedge.com/learn-more-yt

Thank you 😃

Thanks 😃

Thanks 😃

It's so hard to find a good term life insurance policy if you already have medical problems. I don't know of a good one for that. Sorry.

That's a great question. Many of the larger companies have an HR department that screen out people who don't have a bachelor's degree. You might have better luck calling and prospecting smaller companies. Go into their office and introduce yourself. Drop off your resume. Show them that you're an A player. If you don't meet their qualifications, show them why they should hire you. You need to do everything you can to stand out. I would say this is true too even if you meet the minimum qualifications.

That's a great question. Every city and state is different when it comes to what they will do. In your situation, we would recommend hiring a real estate attorney to help you work with the city to see if they would be willing to do this.

@@theinvestorsedge I just realized you are a fellow Utahn, do you happen to know state laws here regarding this? I might consider finding an attorney if the city may have any interest selling this parcel, thanks for the advice!

@@okzoomer5728 Yes, we are based in Utah. We always consult our real estate attorney for matters like this.

Thanks Denise 😃