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SAN DIEGO PROPERTY
San Diego Properties For Sale Home sales in Southern California have slowed down to their lowest levels in five years, according to an AP article posted on NBCSanDiego.com on Feb. 16, 2006. This downward trend is good news for the homebuyer, who now has more bargaining power. However, condominiums have held their value as an investment despite economic downturns and problems with some associations. Rent To Own Properties San Diego In a rent-to-own or lease-option agreement, the seller is giving you the right – at some point in the future – to buy a house at a price that is agreed upon today. Usually, a part of your rent over a specific lease period goes toward your eventual down payment. For example, if a house would typically rent for $1000, you might be asked to pay $1200 per month, a portion of which – say $400, would be credited to your eventual down payment, depending on the contract you work out.
Downtown San Diego Properties Your real estate agent should be able to guide you on buying San Diego properties in default, what is in escrow, and also what is for sale on the regular real estate market. Make sure you know what kind of deal you’re getting. Your agent should also be able to estimate bidding prices based on his or her experience with the San Diego foreclosure property market. It is wise to be cautious when considering a foreclosure.
In fact, many experts warn new buyers to hire an expert to take them through
the procedure. It is important to have the house meticulously inspected
and to be sure that any liens, undisclosed mortgages and court judgments
are cleared or at least disclosed. It’s almost impossible to get
financing for such a property. You need to show up with cash, and lots
of it, or a line of credit with your bank upon which you can draw cashiers
checks. |