Wanted: Assumable Homes without Qualifying

[lexalicious]

Wanted: Assumable Homes (in Calgary) without Qualifying.

If you have one for sale, pm me

And if you know someone that is selling one, I will gladly pay you a nice "finders fee" ;) if I end up buying the property

Thanks

(Please Note that I am not interested in homes in NE/SE except homes in Centre Street, Beddington, Renfrew, and the surrounding area)

I'm mainly interested in homes in the NW. Thanks again :)

[lexalicious]

:)

[Weapon_R]

What is your budget?

[Cypresskilla]

Original Post Removed. (Please read the Forum Rules and Terms of Use (http://forums.beyond.ca/articles.php?action=data&item=1) before posting again, or risk getting banned).

[lexalicious]

do you mean the cash to mortgage or the overall budget of what i would be willing to buy a home for?

If it's overall price of home, I have a fairly open budget but I do want to keep any home purchases at a maximum of 1 mil. :thumbsup:

[Weapon_R]

cash to mortgage of course

[lexalicious]

ctm $40,000-60K per home :)

[IhateDomestic]

u a drug dealer?

[bighead2267]

:eek:

[lexalicious]

Originally posted by IhateDomestic
u a drug dealer?

No, I'm just well equipped :)

And besides, if I was a drug dealer, it would be hard to blend in when I'm driving a Porsche 993 Twin Turbo (Bright Red) around town. There's only 3 of us in Calgary :D

[D. Dub]

No offense ---but it might be tough to find a CTM with only 40-60K

Assumables are becoming a things of the past as now the risk to the seller is just too high.

[DepTrotter]

hi can i just please have $5000?

i think i am quite qualified, and if you want we can hang out on the weekends as a fee for the money

ive just got all this creditcard debt that ide like to pay off

thanks man

ps, if you want to wire the funds pm me and ill give you my banking info

[Weapon_R]

Originally posted by D. Dub
No offense ---but it might be tough to find a CTM with only 40-60K

Assumables are becoming a things of the past as now the risk to the seller is just too high.

What's the risk?

[sputnik]

Originally posted by Weapon_R


What's the risk?

The former owner is on the hook for the next 12 months of the mortgage if the new owner defaults on their payments.

[Weapon_R]

Originally posted by sputnik


The former owner is on the hook for the next 12 months of the mortgage if the new owner defaults on their payments.

and yet backed by 40-50k of the new owners money...I don't think anyone is dumb enough to dump that kind of money and then default on a 1500 mortgage payment.

[lint]

Originally posted by Weapon_R


and yet backed by 40-50k of the new owners money...I don't think anyone is dumb enough to dump that kind of money and then default on a 1500 mortgage payment.

It depends on what the property is being used for. Grow ops come to mind.

[D. Dub]

Originally posted by sputnik


The former owner is on the hook for the next 12 months of the mortgage if the new owner defaults on their payments.

That 12 month stipulation is gone.

The old mortgagee is on the hook --- ad infinitum now if the mortgage assumer defaults!!!!!

But that only applies to high risk insured mortgages insured by CMHC or GE insurance.

[D. Dub]

Originally posted by Weapon_R


and yet backed by 40-50k of the new owners money...I don't think anyone is dumb enough to dump that kind of money and then default on a 1500 mortgage payment.

People do stupid things--lose jobs, go to jail, commit mortgage fraud, have gambling drug and alcohol problems, go thru bitter divorces--- etc etc etc

[lexalicious]

Honestly there's quite a few homes at a CTM price of 40-60K on the market. There's even ones as low as 20K CTM which I'm sure everyone has seen in the last few days.

Too many individuals bought multiple homes during the hot market home market we had in the last while and now that they realize that prices are going down, they're unloading their excess homes.

The time for buying homes and making a healthy profit reselling it is over.

Because of this, you'll see that there will be an influx of assumables available on the market in the near future.

[modded46]

Originally posted by lexalicious
Honestly there's quite a few homes at a CTM price of 40-60K on the market. There's even ones as low as 20K CTM which I'm sure everyone has seen in the last few days.

Too many individuals bought multiple homes during the hot market home market we had in the last while and now that they realize that prices are going down, they're unloading their excess homes.

The time for buying homes and making a healthy profit reselling it is over.

Because of this, you'll see that there will be an influx of assumables available on the market in the near future.

Show me anywhere in Calgary that housing prices are going down?? Leveling yes, and people asking outragous prices yes.. But I don't think we'll ever see them go down from where they are now. Why do you think there are so many condos going up? Companies realize that with the amount of people coming into Calgary not all of them will be able to jump into a 400,000 house.. So the only other option to them will be a condo.

[lexalicious]

obviously you haven't read the Calgary Sun about 10 days ago when they reported on the front page that prices of homes went down about 9 percent from the previous month.

Call Calgary Sun's editing department and verify this.

I didn't pull this out of thin air :rolleyes:

This thread is starting to get like a discussion thread and the majority of the posts (minus Weapon R) are nothing more than spam/insignificant posts. Please don't post on this thread. Pm me directly if you have an assumable home that meets my criteria. Thank you

[LaughingTiger]

this guy is 100% rite.!! homes are going down and ppl are unloading cause they waiting too long ...

[me&you]

A little off topic, but I would LOVE to see a picture of you 1998 Porsche 993 Turbo. My favorite Porsche.

So there's only 3 993 Turbos in Calgary, or did you mean only 3 1998s?

[maximus5502]

I know of one. PM sent

[lexalicious]

If any of you guys know of an (assumable home without qualifying) in the Hamptons neighbourhood, pm me and if I end up buying the house, I will give you a finders fee of $5000 FREE!! :eek: