FAQ
FAQ
If I decide to buy investment property where do I get financing?
Contact American Realty we can direct you to mortgage companies and/or finance Institutions who specialize in investment real estate lending.
Are there other lending channels available to people who have gone through foreclosure?
Absolutely, land contracts and lease options are a good place to start if you can't qualify for a mortgage. At American Realty, we specialize in these programs and work with many investors who offer them.
What is a redemption period?
This is a period of time that a borrower may "redeem" (or pay off) the foreclosing interested party (bank) of all outstanding amounts due. In most cases that period of time is (6) months from the date of the sale. It can however, be as short as (30) days or as long as a (1) year.
Will the bank work with me if I know I can't make my payment?
The answer is usually "yes" as long as you notify the bank before you miss the payment they may offer different options to you to prevent foreclosure.
How long will it take to get another mortgage if my house is foreclosed on?
Usually banks won't even consider lending you money until (2-4) years after the date of your foreclosure.
How can I purchase another house other than my home?
Most people are able to purchase investment property; they just haven't talked to the right real estate company to show them how- we can.
What type of property is considered "investment property"?
Any type of property other than your primary residence.
What sets American Realty apart from the rest?
Simple- Service, attention to detail, professionalism, and superior expertise. Channel 8 and countless others have asked us to be their real estate expert - won't you also?
What does it mean for American Realty to list my property?
Your property information is submitted to the local Multiple Listing Service through GRAR. In addition we put a sign in your yard, help develop additional marketing strategies, and handle everything necessary to sell your house to ensure a "smooth" closing.
I don't want to deal with tenants, are there still options for me?
Absolutely, for a small monthly fee a property management companies will take the headache out of dealing with tenants or you can buy vacant land which requires very little time to manage.
I want to use American Realty to sell my home but I can't afford the commission, what are my options?
At American Realty we have (3) different listing packages to help mitigate high commission fees, including a very aggressive fixed fee program.
Is it true that generally it takes less time to sell my house if it is listed versus selling by owner?
Absolutely, the reason is simply exposure. Once your house is listed it is exposed to 2,100 Realtorsâ with potential buyers for your home as well as countless other potential buyers who view a condensed version on-line.
What happens when my house is foreclosed on?
Your house goes to public auction (commonly referred to as the "Sheriff Sale") where it is sold to the highest bidder.
How much will it cost me if I use American Realty to buy a house?
The answer is zero! Almost all real estate commissions are negotiated between the seller (not you as a buyer) and the listing broker. The listing broker may elect to "cooperate" with other "selling" brokers (us) in exchange for bringing a buyer (you) to the transaction. In other words you are missing out on a free service by not using American Realty to help you locate and buy a home
