Purchase and Sale Contract? Confused…Help Please

Home Forums Purchase Program Purchase and Sale Contract? Confused…Help Please

This topic contains 20 replies, has 5 voices, and was last updated by  TTrumble 5 days, 8 hours ago.

Viewing 6 posts - 16 through 21 (of 21 total)
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  • #46249

    JHarris981
    Member

    @tiffany1513 – Here are 4 homes I found in those counties. I didn’t know exactly what you were looking for but all of them are under your maximum PITI of $955. I did a search for properties not over $140,000. All of the ones I found at $140k or below were within your PITI. I don’t know the average rate for insurance in your area so I estimated $1000. You can probably call some local insurance companies to get a more accurate quote. I used the 4.5% interest rate currently on NACA’s website and the property tax listed for each home on Zillow’s site. I input the numbers into mortgagecalculator.org and it gives you the projected mortgage. I also saw some nice condos and townhouses for sale in those counties but wasn’t sure if you were interested in those.

    https://www.zillow.com/homes/for_sale/Duval-County-FL/fsba,fsbo,new_lt/44528064_zpid/489_rid/0-130000_price/0-544_mp/30.642047,-81.061249,30.047104,-82.369996_rect/9_zm/0_mmm/

    Mortgage =$843.93 (insurance at $1000 per year. property tax $1533)

    https://www.zillow.com/homes/for_sale/Duval-County-FL/fsba,fsbo,new_lt/154600225_zpid/489_rid/3-_beds/0-140000_price/0-585_mp/30.642047,-81.061249,30.047104,-82.369996_rect/9_zm/0_mmm/

    Mortgage =$911.57 (insurance at 1000 per year, property tax $1615)

    https://www.zillow.com/homes/for_sale/Duval-County-FL/fsba,fsbo,new_lt/44535248_zpid/489_rid/3-_beds/0-130000_price/0-544_mp/30.642047,-81.061249,30.047104,-82.369996_rect/9_zm/2_p/0_mmm/

    Mortgage =$627.25 (insurance at $1000 per year, property tax $690.00)

    https://www.zillow.com/homes/for_sale/Clay-County-FL/fsba,fsbo,new_lt/43679797_zpid/118_rid/3-_beds/0-130000_price/0-544_mp/30.254915,-81.172486,29.657625,-82.481232_rect/9_zm/4_p/0_mmm/

    Mortgage =$847.52 (insurance at $1000 per year, property tax $1814, HOA $5.00/per month)

    #46250

    Tiffany1513
    Member

    @jharris981 thank you very much! I will take a look at these. I need at least a 3bd 2 bath since I have a boy and girl. I appreciate your help so much.

    #46251

    JHarris981
    Member

    @tiffany1513 you’re very welcome! I believe 2 of the 4 listings I sent were 3bd/2ba. The other two are 3bd/1ba but are nice homes. There were also some condos and townhouses listed too that you might want to check out.
    I received the BOA REO List today. If you have not signed up for that, I recommend that you do so. The NACA RED Dept. sends you a list of BOA REO properties before the list is made public to non-NACA members. The benefit of these properties is that BOA will give you 10 points towards buy down and $350 towards your inspection if you make a full price offer on the home. That would bring your interest rate down from 4.5% to 2.0%. Let’s say for example that the house is $100,000, the property tax is $1588, the insurance is $1000, there’s no HOA and the interest rate is 4.5% — your mortgage would be $722.35. But by utilizing BOA’s First Look program with the 10 point seller concessions, your interest rate would be 2.0 bringing your mortgage down from $722.35 to $585.29 for that same property. So you see how huge the savings can be per month and of course over a 30 year period. There was one listing in Duval County, FL. I’ve included the link to the property below. If you are interested in it your real estate agent needs to jump on this immediately. There is a 14 day window to take advantage of the offer. After the house has been on the market for 15 days or more BOA no longer offers the above-mentioned incentives. I got this list just a moment ago, so I’m assuming that today is Day 1 but I don’t know that for sure. NACA’s RED Dept doesn’t always send the list out on the same day the house goes on the market. There is some specific info that you’re agent will need to submit to the RED Dept. He/she can call the RED Dept. to get all of that. If you can’t get in touch with your realtor then the RED Dept can probably send it to you directly. I can also send it to you if you can’t get in touch with anyone but your realtor needs to fill out the info. This home is a 4bd/3ba. The address is 10427 Rutgers Road, Jacksonville, FL 32218. Here’s the listing for it on Zillow:
    https://www.zillow.com/homedetails/10427-Rutgers-Rd-Jacksonville-FL-32218/44453462_zpid/
    Keep me posted as to whether any of these homes work for you!

    #46282

    Tiffany1513
    Member

    @jharris981 how do I sign up for this list? Thank you for the help.

    #46296

    JHarris981
    Member

    @tiffany1513 send an email to NACA RED asking to be put on the distribution list for BOA REO properties. I believe it’s called “First Look”. Did any of the properties I sent work for you or have you found any others?

    #46319

    TTrumble
    Member

    Hello all,

    BTW, another advantage of the BOA First Look progarm is that NACA members’ bids on a property take priority over non-members’ bids, even if the non-member’s bid is higher!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

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