Tagged : laguna beach fixer upper homes

One of the most sought after communities in Laguna Beach is the Emerald Bay community in North Laguna Beach.  Known as one of the most family friendly communities in all of Orange County, Emerald Bay offers the tight security of a 24 hour guard gate as well as many outdoor activities available for it's residents.  If you have kids you will love the organized events throughout the summer designed just for kids.  In addition, you will find numerous tennis courts, swimming pool & team as well as beach volleyball.  Home prices currently range from $2,229,000 for a fixer upper home in the community and go as high as $35 Million.  If you are looking for an entry level home into this community finding a home that you can fix up and make your own may be your best

If you are in the market to buy a home but looking to leverage your cash you may want to consider seller's who are open to doing a seller carry back.   What exactly is a seller carry back?  Instead of going through a traditional mortgage to buy a home the seller of the bank becomes the bank, in essence, and provides the buyer with an interest rate and terms for the amount that is to be borrowed.  Typically, a certain amount of down payment will be required in order for the seller carry back to work, in most cases this can be anywhere from 10 to 20% of the purchase price. 

Most of it depends on the sellers motivation and the amount of equity the seller has in the property.  If the property is owned free and clear then you will have more negotiating room