Agent Profile
My job is service...service to you and your real estate transactions! How can you benefit from my 25 years of experience and expertise? What can I offer to make the process more productive?
* Current information on available housing...comparative and competitive market pricing and analysis
* Daily involvement in the local real estate marketplace.
* Thorough, comprehensive knowledge reflecting years of helping others complete their real estate business.
* Extensive network of professional resources to make the process as smooth as possible.
My commitment is to you! Being available to you...returning your calls...answering your questions...addressing your concerns...respecting your money...matching your timeline...meeting your expectations...helping accomplish your real estate goals!!
JANEESE JACKSON: 503-709-0802 or jj@janeesejackson.com
Avril Lavigne – “Why”
Why don’t you see more “lease with an option to purchase”??? I have had multiple inquiries into the possibility of leasing with the possibility of purchasing once one’s credit has repaired or whatever obstacle to tradition financing is overcome. You’d think in a marketplace like we have been experiencing in the Portland Metro area, we would see all kinds of “creative financing options”!!?? When I began my real estate career in the mid-80′s, there was a lot of creative financing options offered and the marketplace forced lots of creative thinking. There were seller-carried contracts or seller-carried 2nd loans, there were buyers/sellers attempting to “wrap” existing loans (even then, they were not sanctioned by the lenders, but you “heard” they were happening), there were “leases with the option to purchase”. Well, perhaps we learned from those days.
Why don’t more sellers offer “seller-carried-contracts”?: There aren’t that many sellers in that position. You’d have to have your home paid off or almost paid off. I’m just surmising here, but interest rates are so low that, perhaps, many sellers know they can’t get the $$$/interest rate they would want to carry the burden of the contract. Or, the seller has passed-on and the estate (could be multiple beneficiaries) wants to settle the estate, thus a seller-carried-contract is too complicated.
Why don’t more sellers offer “lease-with-an-option-to-purchase”?: many times lease-options simply do not make it to close of escrow! Home-ownership is based on a set of deep-seated psychological factors! Like having a baby, you just can’t imagine how it will feel till you experience it. And, like having a baby, once you’ve done it…there’s a level of commitment that you don’t experience till it happens! And, that means that you’ve “bought it” (hook, line and sinker). A “lease with an option to purchase” is like renting! You haven’t completely made the transference and statistically (even with non-refundable monies up-front) they simply don’t close!!
Why don’t more sellers “wrap” an existing loan or have an assumable loan?: Wrapping a loan involves monies exchanged between buyer and seller and the buyer assuming an existing loan. Unless, the loan is an assumable loan (some FHA & VA loans are assumable, you’d have to check with your particular loan documents) it is not sanctioned by the underlying lien-holder (i.e: the bank). Thus, if the “wrap” was discovered your loan could be called (payable upon demand)! So, that speaks to possible future value of FHA or VA assumable financing. In the ’80′s they were gold!! As interest rates went up (to 13% when I first started the business), any assumable financing (at a lower interest rate) was VERY attractive!!
About the Author | Janeese Jackson
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