Common Real Estate Situations

FHA Loans Require an Inspection

One of the most popular financing options for home-buyers are FHA loans because they have a low-down payment and the seller can contribute to the buyers closing costs.   Making sure that your home is FHA compliant will expand your pool of potential buyers.

A requirement of the process it that an FHA appraiser must perform an inspection to see if the home meets FHA guidelines. 

A seller should perform an FHA inspection prior to listing the property, but this doesn't always happen.


The inspection list has several items, including: 

  • a good roof
  • handrails
  • a functioning furnace
  • satisfactory plumbing
  • a safe electrical system
  • a solid foundation without water intrusion or mold
  • operating doors
  • windows free of broken glass
  • no peeling paint

If the appraiser discovers a deficiency, it must be repaired before closing.

If the buyer and seller cannot agree on a repair, the Purchase Agreement may be canceled.

We can help you save time by assessing whether a home can pass an FHA inspection!

Forclosure or Short Sale Analysis

Scott County MN Foreclosure

Sometimes individuals find themselves about to fall behind on house payments.

Individuals reach out to lenders to discuss the situation only to find out nothing can be done until payments are missed. Then they exhaust every source of cash until the bank begins legal action to recover the property. Typically, there is no help, and they are embarrassed to discuss the situation with family or friends. Worst of all, later in the process, the lender assigns an attorney (a foreclosure specialist representing the lender) to the matter, who will not discuss the case. If distressed borrowers try to seek legal representation without cash to pay for a defense, most attorneys will listen, but then refuse to sign a representation agreement.

If you find yourself struggling with house payments, consider a foreclosure or short sale.

In a short sale, a lender works with you to sell the property for less than is owed.

People think that lenders are willing to execute short sales and the process is simple. This is not true. Lenders do not want short sales to become popular, otherwise they lose money as the number of short sales increases. Each lender has its own rules and a custom property recovery system. There are no standard short sale recovery systems. Individuals executing short sales might experience either a simple, or a very difficult process.

In the case of foreclosure, the bank takes legal action to recover its interest in the property.

The process is set by state statute and gives the borrower some rights. Usually, individuals in foreclosure never research their rights and then miss opportunities that help them recover cash. Foreclosing lenders do not volunteer this information which is typically buried in the fine print of the original mortgage papers. Recently, TrueLife Real Estate helped an individual in foreclosure secure $50,000, instead of walking away from the property with nothing. This is realtor representation at the highest level, and most realtors believe this is impossible.

A foreclosure or short sale involves a property sale.

TrueLife Real Estate Solutions helps people do a Foreclosure or Short Sale Analysis by comparing net sheets to determine the options. The best time to analyze options is before payments are missed. In either case, the costs for marketing expense, buyer closing costs, and seller closing costs are included in the sale transaction. It costs the individual in foreclosure nothing.

For Sale
Good Credit Bad Credit sign

The goal is to eliminate stress and establish a point to begin credit repair and create a “buy again” timeline.

to discuss if a Foreclosure or Short Sale Analysis will benefit you!

Want to buy a home? Credit history a problem?

Good Credit Bad Credit sign

If you are in this situation, the quickest way to build confidence is to find a loan specialist with expertise in credit repair.

A professional will analyze your credit report and instruct you on actions needed to improve your credit score. 

Possible actions include:

  • paying off old debts

  • creating a plan to be current on monthly obligations

  • taking actions to establish credit

After executing your plan, watch your credit score improve.

We have helped many people repair their credit to buy a home.
We can do the same for you!

Nothing will happen unless you take action! Call us now!

Investor Sales

What is an Investor Sale?

A property seller should always try and maximize the net proceeds from a sale.

However, sometimes the condition of a house, or the need for fast cash, makes an investor sale an option. In this situation, the buyer will not occupy the residence. Rather, they are buying the home with the intent of selling it to make a profit.

Examples of investor sales that benefit the seller:

  • A property needs major repairs or updates.  The cost of these improvements will not boost the final sales price above the cost of the proposed renovations.  An investor sale is a viable option.

  • Multiple family members have inherited a distressed property from a relative.  They do not have the resources,  nor the time, to improve the property in a fair and equitable manner.  An investor sale could simplify distribution of the inheritance for the heirs.

  • A seller needs net proceeds from a home sale to act on another real estate opportunity.  There is not time to execute a traditional real estate sale.  An investor sale may be a solution.

  • A seller is undergoing foreclosure.  A careful study of the situation, and the use of an investor, may allow the seller to obtain cash that otherwise was unavailable.

  • In estate planning, the elderly may save their home as the last source of cash for assisted living expenses.  After exhausting all other assets, they may require the cash from their home.  An investor sale could quickly liquidate that asset.

To learn more, or explore your options for an investor sale

Buying After Foreclosure or Short sale

In the past 10 years, many homeowners lost their homes due to foreclosure or short sale.

Some filed for personal bankruptcy. They watched their credit score plummet and experienced one of the most frustrating and depressing events of their lives. It is possible no one was able to help during these events.

From running out of money and receiving demanding letters from attorneys, to watching your house being sold and having to relocate, the whole experience can be quite tragic.

As real estate professionals, TrueLife Real Estate is dedicated to providing the help necessary for overcoming foreclosure in the Twin Cities Area.

Scott County MN Foreclosure

TrueLife Real Estate has helped many people buy homes after going through foreclosure, short sale and bankruptcy. We start by reviewing your situation and then creating a strategic plan for you to buy once again.

In many instances, people are astonished at how fast they can buy.

True story – recently a gentleman came into the office looking for a rental. When asked why he was not looking to purchase a home, he stated that he had a foreclosure in his credit history, and did not feel like he would be able to buy. Just 90 days later, with our real estate knowledge, he closed on a home at normal market interest rates.

Our research indicates that buyers who have experienced foreclosures want things to remain confidential and are looking for someone to help them. Most have become excellent credit managers, because they never want to experience the effects of a negative credit scenario again. Some have even saved for a down payment.

There are certain steps that are necessary to execute a home purchase in this type of situation.

It starts when you contact us to review your buying strength and the creation of a buy-again plan. We then guide you through the steps and help you arrive at the closing table. All information is kept confidential. We receive compensation as a commission off your home purchase and guarantee you will pay no hidden fees.

If you have been negatively affected by the housing market in the past and are interested in buying again, please