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Sold - HUD Home at 1006 State Street

$29,000 GREAT BUY!!

Photo of 1006 State Street, Algonac, MI, 48001.

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Address: 1006 State Street	City/ST: Algonac, MI	Zip Code: 48001
Location: Algonac	Property Type: Single Family Home	New or Resale: Resale
Square Footage: 1007	Bedrooms: 3	Bathrooms: 1
MLS# 30719535

HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks*. FHA Case #261-920091. Insured w Escrow repairs $220. Bids due by 07-05-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof.

Last Updated: 3/14/2010 10:53:52 AM

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Financing Your Home >Owner Financing

If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.

Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.

Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.

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Q	Where is the world's tallest apartment block?
A	The 100-story John Hancock Center in Chicago, Illinois is 1,127 feet high; floors 44 through 92 are residential.
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Holly Peters, REALTOR�, real estate agent and broker for Harrison Township, St. Clair and Macomb, Michigan home listings, property and land for sale - NUMBER1EXPERT

Holly Peters
RE/MAX Advisors
34350 23 Mile Rd.
Chesterfield, MI 48047
Holly's Cell : 810-300-4015
Office: 586-725-1900
Fax: 586-725-0333
REOactionhomes@gmail.com
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