555 S Gaines Street, Southern Pines, NC 28387

555 S Gaines Street, Southern Pines, NC 28387

REALTORS WELCOME!

Solid brick-ranch home in an up and coming neighborhood in Southern Pines. Only 4 minutes to downtown Southern Pines. Includes 3 parcels totaling .44 acres (land goes to the blue-taped stake near the road). Perhaps you can build a garage or ADU on the other parcels?? Updates would make this a great house in a growing area.

For more details contact:

Cindy Veit
919-454-3521
cindy.veit@homevestors.com View More Photos Or Video

• Price: $195,000

• Down Payment: $19,500

• Estimated Monthly Payment: $1,802

• Income Requirement: $6,430/mo

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555 S Gaines Street, Southern Pines, NC 28387

First Name*Last Name*Phone*Email*

About You

Where Do You Work?*How Long Have You Worked There?*How Much Do You Make Per Month?*Do You Have Any Other Household Income?  If Yes, How Much Per Month?*What Is the Maximum Monthly Payment Amount You Can Afford?*What Is the Maximum Amount You Have For A Down Payment?*Why Would You Be A Good Fit For This Home & The Owner Finance Program?*Please Note: We treat your information with the utmost confidentiality and is used for the sole purpose of contacting you. Your data will never be shared with any third parties.

I hereby authorize NC Owner Finance Homes to contact me using the information above.

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More Information

• Owner will finance at 10% for up to 30 years!
• Up and coming area
• Close to highways
• Needs some TLC
• City water and sewer

Frequently Asked Questions

How do I qualify? Do you look at credit score?

We mainly look at your household income & your down payment. We reserve the right to pull and review credit but it is not the most important factor, and having a credit score is not a requirement. We want to see that you have enough household income to comfortably afford the home.

Once I own the home, can I make changes to it?

Yes, it is your home! You can make any improvements or modifications to the home as you see fit.

How do taxes & insurance work?

Most loans are typically ‘escrowed’, meaning, you’ll pay a part of your homeowners insurance & taxes each month with your mortgage payment. As a result, you won’t have a big tax or insurance bill due at the end of the year.

Will my monthly payment ever change?

Your monthly payment is made up of 5 items typically: Principal, Interest, Taxes, Insurance, Servicing Fee. The principal & interest portion will never change. Taxes may change if the city or county changes the tax rate over the years. Insurance may change from year to year as the home gets older or you make updates to it (such as new roof, etc.). Insurance is the biggest variable typically and you are able to shop around for the best price and change policies at any time. The Servicing Fee will is subject to change if the servicing company changes their fees.

How does the pricing & interest rates compare to the market?

Generally speaking, we are providing a pathway to homeownership to home buyers that wouldn’t otherwise have one. We always tell prospective clients that if they can get a bank loan, that is going to be their least expensive option. However, because we take on some risks with this type of transaction, we will typically charge a moderate premium on the mortgage interest rate as well as the sales price of the home (versus if you were paying cash for the property we are selling).

Are there any reasons I should not purchase an Owner Finance home?

If you feel you cannot comfortably afford the monthly payments, this is not a good option for you.

What happens if I miss payments or default on the mortgage?

The most important thing is communication. Even if you are late or have a missed payment, it is best for you to reach out to us or the loan servicing company as soon as possible to discuss any potential options. We will often try to work with you so you can stay in and keep the home. As a last result, we reserve the right to foreclose on the property, but this is only after all other options are exhausted.

**Disclaimer **

We make no representations or disclosures about the property.  Often times, we have not owned the property very long and do not have much information on it.  We have not hired a licensed inspector to assess the property.  It is important to do your own due diligence and utilize any 3^rd  party professionals you wish to determine if the home is right for you & you are clear on the condition of the property.  Should we have any reports on the property, we will provide them to you up front.  You must complete your due diligence BEFORE entering into a legally binding contract with us and placing your deposit.  One or more members of our team are licensed real estate agents, however, we represent you in no capacity. Any and all disclosures shall be provided if the Seller is a licensed Realtor.  Should you desire representation, it is advised that you retain your own Realtor or other representative of your choosing. Homes are sold as-is we are not licensed mortgage broker/lenders in the state of North Carolina.

Sample Documents

These sample documents are solely for informational purposes. Actual purchase documents may vary from transaction to transaction.

Buyer Purchase and Loan Process Loan Application Offer to Purchase and Contract Seller Financing Terms Addendum