5 Creative Ways To Buy a Home...

Dated: September 22 2021

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Maxus Realty Group Agents are local specialists with knowledge to help you buy and sell the right home, at the right price.

We are passionate about you as a client, we will always protect your best interests just because it's the only way we do business day in and day out.

Today, we'll talk about 5 Creative Ways To Buy a Home...

#1 Community land trusts

Nonprofit community land trusts (CLTs) exists to make buying a home more affordable by selling you only the building ...not the land . You get a long-term lease for the land.

This kind of ownership is a little complex, it allows you to lease the land while you own the house. 

Consult with an experienced and  professional REALTOR® to get more information about this

#2 Nonprofit and community developers 

Nonprofit and community developers often build new construction,  but many also help lower-income families become homeowners trough partnerships with the local community.

This category includes groups that do affordable housing, economic development, and other community-building projects within the state. 

They may use the Federal or local Government to fund the costs. As an experienced homeownership advisor I can guide you tough opportunities that may be available in our area. There are limited opportunities when it comes to this type of home transaction...being first in line is a good thing. Call me for more information. 

#3 Cooperative housing

Another way for families to buy their homes in a very affordable way is to pool resources, and that’s exactly how a housing cooperative works. 

Through the legal entity of a housing cooperative, or co-op, a group of people share ownership of one or more residential buildings. 

This could be different family members that can pool their resources to buy a single family house. 

This is a complex transaction that requires the guidance of an experienced REALTOR®

#4 Contract for deed

If you aren’t qualified to buy but expect to be soon, a land contract, or contract for deed gives you some time to prepare for homeownership by building your credit temporarily 

This document is designed to protect you while you make the payments of a house that the seller holds the title and right s of the property

Once this contract is signed and agreed by both parties, you move in and start paying the seller directly, based on an amortized payment schedule. After whatever number of time agreed with the seller, you may promise a balloon payment as you apply for a home loan to transfer the house to you. 

#5 Distressed properties

Buying a home that’s in the middle of the foreclosure process can be complex, enduring, and even risky in some cases. But it can also be a great opportunity.

Can't find a home? A distressed property might get you in. In some cases, you may start building "sweat" equity if you handle the repairs build your dream home as a fixer-upper. 

Buying distressed properties can be overwhelming even for some real estate agents. Make sure you work with a specialized REALTOR® to get 100% benefits of this affordable houses. 

Our commitment as your real estate professional is to help you find your dream home at the right timing for you.

It's the biggest purchase of your life, and can assure you that even small mistakes can be costly.  BEWARE, technology changes almost daily and I can help you pinpoint all the homes for sale near your location points. I have access to over 18 million properties from hundreds of locations, including Government  properties, action homes, VA homes, HUD Properties and all available private houses for sale in between.

Please call us to get started

Fernando Herboso Broker 301-246-0001 

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Fernando Herboso

Fernando Herboso: Honesty and integrity, along with determination and dedication, are philosophies that Fernando strives for in all aspects of his life. Applying these principles to his business, has....

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