4 Perks Of Buying Your House Directly In Huntsville, AL

There are many great reasons to buy your house directly from a home seller in Huntsville. Choosing to work with a professional home buyer and seller such as KeansWay Properties will allow you to find the best off-market properties at a fraction of the cost of what you will find on the MLS. Keep reading to learn more about some of the many perks that buying your house directly can offer you!

Avoid Commissions and Fees

When you work with a professional home seller to buy a house in Huntsville, you won’t have to worry about agent commissions being factored into the price. Sellers who are working with real estate agents will hike up their asking prices in order to cover the commission costs. But when you work with us, these costs aren’t added to the sale price. This means you will be able to buy your new house in the Huntsville market for less. You will also be able to avoid other agent fees and administrative costs that arise with a traditional sale. All in all, by avoiding agents, you will potentially be able to save thousands on your home purchase.

Get What You Want

When you work with an investor of a professional home buyer, they should be able to help you find exactly what you are looking for in a house. You tell them the size, the location, and when you want to close, and they will handle the rest. When working with us, we will work diligently to find the perfect house on your behalf. Whether you are looking for one property or several, our team has the knowledge and resources to find exactly what you need. When you work with a professional seller, they will present you with the properties that meet your criteria as soon as they become available giving you the opportunity to make the purchase right away.

Get The Price You Want

Not only will a professional buyer be able to find you the house you want, but they will also be able to find it at the price you want (within reason of course!) All you have to do is let them know your budget and how much you are willing to spend for certain types of properties. When your wholesaler knows this, they will only show you properties that meet your criteria, not wasting your time with properties that don’t. You’ll be able to stay within budget while finding the perfect house.

Less Competition

When buying houses using a real estate agent, you will likely only be seeing the properties that are listed on the MLS. When you work with KeansWay Properties, you will be able to find the best of the best off-market houses for sale in Huntsville market. These are properties that the mainstream public aren’t seeing advertised on the MLS. Do keep in mind that investors typically go after off-market properties, and will be looking! If there is a property you like, don’t hesitate to learn more and make an offer. While there are fewer people seeing the property, the ones who do will know how to buy and close quickly!

There are many perks of buying your house directly in Huntsville! While the inventory may be smaller, you will be able to specify your criteria, finding the exact property you are after for much less!

Interested in buying your house directly? We can help! Reach out to us today for more information at Keansway@gmail.com

Getting to the Closing Table

I finally found a place. It was 3/2 HUD foreclosure that needed little rehab ( Find more info at HudHomestore.gov). The property was listed for 95K and to put an offer in I had to put in a bid the property. My agent walks me through the process to putting a bid in on the place. With HUD foreclosure owner occupants get exclusive rights to bid on the properties before it is open up for investors to bid. I put in an offer of $95,500 and it was accepted.

I am finally under contract on my first home. Now what? I don’t have enough cash to pay for the house out right. This means I need financing. I need to find someone to give me a loan. Well as previously mentioned I had a preapproval, so that has been taken care of, right? Well really not really. First you should shop to find the best deal. Then if I do get a mortgage, I need a down payment. Traditionally you need to have 20% down. Well, where am I going to get that from? I don’t have that in my savings. I can’t go to the bank of Mom and Pops. Hmm? Well, if there is a will there is a way. I began researching low and no money down programs and found FHA programs that allowed down payments as low 3.5 down. Also I found out about 203B and 203H programs that are offered under FHA so that could potentially cover the cost of the rehab the property. I applied for one of these loans with one of the local banks and was approved for the property in its current condition with a 203B loan to cover the repairs. Now in the clear so I thought, I had a house and I know how I am going finance it. Now just an inspection and we are clear.

After a day or two I calmed down and thought about the good in the situation. I realized that the house does have a water heater so I do not have to pay for one, I just have to fix the leak once I take possession of the property. I did have one concern about the overall water pressure in the house because it would cost a ton to fix the water pressure in a house built on a slab. To placate my concerns I jerry rigged the hole in the water line to fix the unit so I could test the water pressure since I was not able to make any repairs to the house before moving into the unit.

We have now passed inspection and the next step was getting to the closing table. This wasn’t a terrible process just that we had I to sign the most document that I have ever signed, TWICE. At the closing table I signed documents stating that I would agree to pay 95,500 for a property valued at 125000 over thirty years at a 3.25 interest rate. That was with $100 down payment. But wait there is this called mortgage insurance for “risky” mortgages meaning mortgages where the individual doesn’t have that much skin in the game. FHA called mortgage premium insurance which cost. At the end of closing HUD got there funds, the bank got the their closing fee’s and FHA insured mortgage that they could turn around sell to a bigger bank, the agents got their commissions, and I am became a homeowner paying only $1900 out of pocket.

Rent or Buy - Finding a Place

With a preapproval in hand, I began my search. Although I did want that one two story six thousand square fit mansion with the finish basement, man cave, and theatre room. Sadly this dream home wasn’t in my budget. I had to face reality so the next best thing that I could think of as the young bachelor was to find a townhome. Doesn’t a townhome just represent the carefree life a bachelor? A big enough area to have guest over, low maintenance, a garage, and maybe a spot to put my grill. I began my search on Zillow and the local reality sight in the area. I drove by every town home community in this area. I found one that I liked that also fell into my price range then I began negotiated the price. The agent was firm on the price and I was ready to put the offer however, I had one minor request that I wanted but the agent did not budge and to add to that she was disrespectful. From that moment I decided to walk away.

An additional consideration I had when searching for a place is the proximity to things where I frequent often. The primary thing being where I worked. I have a gas guzzling pick up and I didn’t plan on paying high transportation cost, buying another car, nor spending my morning on long commutes into the office. With these things in mind I had my credentials for a home and I finally gave up on my desire to have a town home. I realize that with the cost of HOA fees I could pay someone myself to maintain the exterior of my home or in worse case, just do it myself. The search now came down to finding something in my price range, that I can rent/sell easy, that is close to my job. This was about four months into my search window, reference previous article.

I had to get things into gear or be forced to extend my lease which I wanted to avoid at all cost. I began searching for a property that met these conditions and I did not find many that were in my price range and were in live-able condition. Then one day while searching a neighborhood that was the ideal area for me stay, I drove by the property that my agent referred me too. I didn’t like the house but the area was cool, so I continued looking around and found a property that I had not seen before on any listing sites. I immediately went home and researched the place. The place was a HUD foreclosure and was just listed. It was in the price range, the area, needed minimal work, plus I really liked it. So, the time had come. I found a place. Now it was time for me to put in an offer.