An alternative to a non-conforming loan is the use of a land contract, which is allowed in some states. A land contract is an agreement between a buyer and a seller, where the buyer agrees to make periodic payments to the seller. The title to the property only transfers to the land contract buyer on fulfillment of the land contract obligations.
A land contract can be helpful for those who need time to establish or improve their credit rating. There are only small closing costs, and payment can help establish a good mortgage payment record. This can help establish an overall good credit rating, and it is possible for the buyer to later refinance the land contract with a conforming loan.
On the other hand, there are risks associated with land contracts. Land contract purchases are not necessarily recorded in the public record, and there are no guarantees that the seller will be able to transfer a clear title to the buyer upon fulfillment of the land contract. There also is no lender assuring that the purchase price for the property is justified, and no inspection of the property’s condition.
Another alternative to a non-conforming loan is assuming the seller’s mortgage. By assuming a mortgage, if the mortgage is assumable, it is possible to save on closing costs, and may allow you to obtain a favorable interest rate.Back to Table of Contents
Welcome to the next generation of real estate service in Colorado - HQ Homes. HQHomes has been offering full service discounted flat fee real estate services for over 18 years serving thousands of satisfied customers whose savings total well over 1 million dollars.
Our Beliefs are "Treat the customer right - give them a GREAT deal and they will refer their friends and family
While it may seem pretty simple most corporate real estate companies don't get it, still charging high commissions. At HQ Homes flat fee real estate we have a different philosophy - You are more than just another customer to us - you are a life long client, friend, and our best salesperson.
Buying a Home?
We reward our home buying clients with up to 1/2 of our commission*. Simply buy a home and we give you up to 1/2 of the commission* towards your closing costs with our home buyer rebate.
Selling a Home?
We only charge a 1% flat listing fee fee* to sell your home, providing our customers full service and a industry leading marketing package, giving you better service and marketing than those high commission competitors.
Almost everyone we talk to asks "What is the CATCH?!?"
The catch is, if you buy a home without HQ Homes as your real estate company, without our flat fee you are giving away THOUSANDS of YOUR HARD EARNED DOLLARS.
Call Today And Find Out Why We Were Voted The #1 Real Estate Company.
Our Home Buyer Rebate Program is the best you will find in the Denver or Castle Rock Colorado real estate markets. At HQ Homes we make the home buying process simple, fun and profitable to you with our home buyer rebate. If you are like many of today's savvy homebuyers, you are more comfortable doing the initial legwork and research. Perhaps you only want to engage a real estate pro when you are ready and on your terms. If this is you, then you are our ideal client! Please give us a call.
Almost everyone we talk to asks us how we can offer our service at such a low cost while other people are paying commissions up to 7 times what we charge. The answer is very simple - VOLUME. We determined that we would rather help more customers, which equates to a bigger customer base who refer us more business, in turn lowering our costs of doing business. This decision has allowed us through our flat fee listing and home buyer rebate to pass these savings on to you, our clients. We continue leading the Denver real estate market into the next generation of real estate with the highest productivity and customer satisfaction rankings.
Our clients are so impressed with us that the average client refers 3 new clients to us! That's the nex generation of real estate, treating your customers right!
*Subject to lender approval, RESPA Act, and our legal disclaimer - We reserve the right to change the home buyer’s rebate program and home seller's program at any time for any reason without notice.
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