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	<title>Comments on: Why would a realestate investment company want to know my monthly payment?</title>
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	<link>http://www.elicitfx.com/realestate-sale/why-would-a-realestate-investment-company-want-to-know-my-monthly-payment</link>
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		<title>By: bigoilman</title>
		<link>http://www.elicitfx.com/realestate-sale/why-would-a-realestate-investment-company-want-to-know-my-monthly-payment/comment-page-1#comment-809</link>
		<dc:creator>bigoilman</dc:creator>
		<pubDate>Mon, 02 Nov 2009 18:13:59 +0000</pubDate>
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		<description>As an investor, I always ask what the notes are (including taxes and insurance) and what the outstanding mortgage balance is.  If the seller is unwilling to divulge this information, it&#039;s obvious that this is NOT a motivated seller and I&#039;m on the phone with someone who is not a prospective client.  

I make at least two offers on a property.  One, an all cash offer won&#039;t be affected by the balance or the note, because it&#039;ll be 70% of Full Market Value (FMV) minus the repairs.  If you owe more than that, you probably won&#039;t sell it to me (some do, however to avoid foreclosure). 

I&#039;ll make you a FULL PRICE offer if you&#039;ll keep your existing financing in place while I get one of my buyers qualified to refinance and cash you out.  In that case I need to know the monthly payment in order to see if I can even get enough from my buyer monthly to cover the note.  ARMs and other bad loans make that difficult sometimes.  In those cases the seller may be willing to continue paying a portion of the payment until the refinance occurs.  They&#039;d prefer to pay $500/ mo instead of the $1800/mo they now pay.

It always depends on the seller&#039;s motivations.

HTH&lt;br&gt;&lt;b&gt;References : &lt;/b&gt;&lt;br&gt;Me.  Real Estate Investor.  www.red12.net</description>
		<content:encoded><![CDATA[<p>As an investor, I always ask what the notes are (including taxes and insurance) and what the outstanding mortgage balance is.  If the seller is unwilling to divulge this information, it&#8217;s obvious that this is NOT a motivated seller and I&#8217;m on the phone with someone who is not a prospective client.  </p>
<p>I make at least two offers on a property.  One, an all cash offer won&#8217;t be affected by the balance or the note, because it&#8217;ll be 70% of Full Market Value (FMV) minus the repairs.  If you owe more than that, you probably won&#8217;t sell it to me (some do, however to avoid foreclosure). </p>
<p>I&#8217;ll make you a FULL PRICE offer if you&#8217;ll keep your existing financing in place while I get one of my buyers qualified to refinance and cash you out.  In that case I need to know the monthly payment in order to see if I can even get enough from my buyer monthly to cover the note.  ARMs and other bad loans make that difficult sometimes.  In those cases the seller may be willing to continue paying a portion of the payment until the refinance occurs.  They&#8217;d prefer to pay $500/ mo instead of the $1800/mo they now pay.</p>
<p>It always depends on the seller&#8217;s motivations.</p>
<p>HTH<br /><b>References : </b><br />Me.  Real Estate Investor.  <a href="http://www.red12.net" rel="nofollow">http://www.red12.net</a></p>
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		<title>By: ggarg23</title>
		<link>http://www.elicitfx.com/realestate-sale/why-would-a-realestate-investment-company-want-to-know-my-monthly-payment/comment-page-1#comment-808</link>
		<dc:creator>ggarg23</dc:creator>
		<pubDate>Mon, 02 Nov 2009 17:41:59 +0000</pubDate>
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		<description>The scenario as such

1. You have a house on the market
2. A real estate company is interested in purchasing this house
3. They want to know what your payments are

Your questions
1. Why would they want to know your monthly payments

They may be interested in leasing the house back to you as you wait and search for a replacement property (if this is the case). They&#039;ld probably then try to lease it to you at an amount close to your current payments. They may want to figure out your outstanding loan and make an offer to match just the loan if you are a distressed seller. I cannot think of any other reasons.

2. Can they find out how much you owe on the house?

They can search public tax records and find out what the last sale was. I do not think they can find your outstanding loans without running a credit check.&lt;br&gt;&lt;b&gt;References : &lt;/b&gt;&lt;br&gt;</description>
		<content:encoded><![CDATA[<p>The scenario as such</p>
<p>1. You have a house on the market<br />
2. A real estate company is interested in purchasing this house<br />
3. They want to know what your payments are</p>
<p>Your questions<br />
1. Why would they want to know your monthly payments</p>
<p>They may be interested in leasing the house back to you as you wait and search for a replacement property (if this is the case). They&#8217;ld probably then try to lease it to you at an amount close to your current payments. They may want to figure out your outstanding loan and make an offer to match just the loan if you are a distressed seller. I cannot think of any other reasons.</p>
<p>2. Can they find out how much you owe on the house?</p>
<p>They can search public tax records and find out what the last sale was. I do not think they can find your outstanding loans without running a credit check.<br /><b>References : </b></p>
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		<title>By: teran_realtor</title>
		<link>http://www.elicitfx.com/realestate-sale/why-would-a-realestate-investment-company-want-to-know-my-monthly-payment/comment-page-1#comment-807</link>
		<dc:creator>teran_realtor</dc:creator>
		<pubDate>Mon, 02 Nov 2009 17:19:59 +0000</pubDate>
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		<description>How much you owe, or how much your monthly payments are is none of their business.  Let them know how much you want for the house, and let them give you their offer - DO NOT SELL YOUR HOUSE ON ASSUMPTION, CONTRACT FOR DEED, OR &quot;SUBJECT TO&quot;.  Make sure they either get their own loan or pay cash for it - YOUR mortgage should get paid off by the proceeds, so your name is no longer on the loan for this house.&lt;br&gt;&lt;b&gt;References : &lt;/b&gt;&lt;br&gt;</description>
		<content:encoded><![CDATA[<p>How much you owe, or how much your monthly payments are is none of their business.  Let them know how much you want for the house, and let them give you their offer &#8211; DO NOT SELL YOUR HOUSE ON ASSUMPTION, CONTRACT FOR DEED, OR &quot;SUBJECT TO&quot;.  Make sure they either get their own loan or pay cash for it &#8211; YOUR mortgage should get paid off by the proceeds, so your name is no longer on the loan for this house.<br /><b>References : </b></p>
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