| |
| |
|
Real Estate Information |
|
|
|
Talk to a Lender Before You Sell Your Home
If you're looking to sell your home quickly, and for top dollar, the best thing you can do is to be able to offer your buyers some sound financing options. That's why developing a relationship with a lender can be the key to a quick sale, and to more money at closing. Some of your potential buyers will have already gotten themselves preapproved with a lender, but many won't, and being able to offer financing options will open up a number of possibilities for selling your home. The easier you can make finding a loan for your potential buyers, the better your chances of selling your home. Find out what type of loans are available at your local lending institutions, and what kinds of programs they can offer buyers. Ask about income qualifications, credit scores, down payment requirements, both for buyers with good credit and for those whose credit is less than perfect. Ask if the lender will allow you to contribute to the buyer's closing costs. Get an Accurate Appraisal If a banks or mortgage company uses in-house appraisers, it can sometimes cost you a considerable amount of money at closing. For instance, my husband and I once allowed buyers to use their own lender and ended up netting $13,000 less because of a low appraisal. We discovered later that the bank was known for understating appraisals. Don't sign a sales contract contingent on the appraisal of a buyer's lender; draw up your sales contract with a firm price and then give the buyers a specific time to arrange financing, based on that price. You don't want to have to lower your sales price to reflect a lower appraised value. Make sure that your lender's appraisers consider properties sold, but not yet closed and competing listings of similar properties when doing their appraisals, and not just past sales, because past sales alone may not give an accurate picture of your home's true market value in a fast-moving market. Even if buyers say that they are prequalified through a lender, it's worthwhile to explain that your lender may be able to offer better financing, and that you're willing to pay a certain portion of their closing costs for them if they'll use your lender. Having a relationship with a lender who is willing to help your buyers finance your home will give you an edge on your competition, and will go a long way toward selling your house quickly, and for top dollar. (c) Copyright 2004, Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
We Buy Houses Scams - How to Spot Them and How to Avoid Them There are many reasons why a home owner would want to sell a house fast. Job change, relocation, debt problems, divorce and inheritance are just a few. Real Estate Investing Is A Better Gamble Than The Lottery Real estate investing begins when you move to the starting point.Get ready. Lease Options or Rent to Own? Finding a rent-to-own house is one of the many ways someone with bad or no credit can buy a house. You will often find them called names like lease/options, lease with option to buy, lease purchase, lease 2 purchase, rent with option to buy, rent to own, or rent to buy homes. I Already Have an MLS Listing, Why Do I Need an Internet Ad? In today's real estate market, astute buyers are also looking to realize savings by dealing directly with the seller. They use internet search engines and keyword sets (Atlanta real estate advertising, Atlanta for sale by owner, Atlanta FSBO) to locate for sale by owner (FSBO) properties on the web. Achieving Positive Cash Flow from Your Real Estate Investments Even if you're counting on rising property values to eventually make a profit on an investment property, it's far more desirable to have a positive cash flow each month. If you're losing money on a property every month, it may not take long until your future profits will have been lost. Find Out If There Are Sexual Predators Nearby Before You Buy A Home or Property! When looking for a new home or property, buyers ask many questions. Typical questions might be about the history of the property, property tax amounts, the school system, proximity to medical facilities, shopping malls, etc. Should You Allow Buyer To Rent During Closing? It's not uncommon for an investor to sell a house and have the buyer request the right to rent and occupy the property while the closing is being completed.You're a bad guy if you refuse and often in hot water of you agree. Types Of Real Estate - An Investors Choice There are different types of real estate, and different ways to invest in them. Which way is best is for you to decide, according to your particular needs. Make Money With Room Rentals I don't know why I didn't do it sooner, but one day many years ago, I decided to try renting rooms in my home. I was young and single, and had a nice mobile home on small piece of property. The Costs of Transforming Your Home into a Buyers Dream House Turning your house into the home of a buyer's dreams doesn't have to cost a great deal of money. In fact, armed with some paint and the determination to work hard, most home sellers usually need to invest only about $500 to spruce up their homes for a quick sale. Landlords Dance The FICO Fandango Fair Isaac Corporation is the creator of the FICO credit score that is used today by most lenders to evaluate consumer credit risk. FICO scores range from a poor credit low of 500 to a best credit rating of 850. How Do I Implement The Lease Purchase Plan? Well, as we have discussed in previous newsletters first you have to set up goals for yourself, both long term and short term. Don't forget these goals define how your business is run. Buying an Unfinished Home Maybe Your Answer For the first time "want-to-be" homeowner, purchasing an unfinished new home maybe just the answer. With mortgage interest rates still at record lows, there has not been a better time to purchase a home in decades. Why Selling on Lease Options is Glorified Landlording I might upset some folks with this one, but that's okay as I think it's important to get some of my experiences into the light of day. If you fully believe the hype that you won't have any landlording responsibilities by selling on a lease option, go ahead and stop here. 11 Different Ways to Participate in The New Millennium Real State Boom Many parts of the country are going through a real estate boom. In recent reports real estate is showing double digit growth in many parts of the country. Taxes When You Sell Your Home What's the difference between death and taxes?Death doesn't change every time Congress meets. But taxes certainly did in 1997, and the Taxpayer Relief Act of that year made a dramatic difference in the tax liability of those who sell their own homes. Why Real Estate Investment? Why should you invest in real estate? Well, investing in real estate for profit is one of the most popular approaches to generating additional income in the United States today. In fact, if you pay attention to recent press you will have seen numerous reports about the real estate investment craze that seems to be sweeping the Nation. Property Investors, Scrub Your Thoughts and Start Again - Brazil, Brazil, Brazil! Brazil Property - FortalezaThe PlaceWhat to do in a place like this - You can swim, surf, dive, sail, golf, play ball, ride, explore, bargain hunt, sight see, explore, drive a dune buggy for 100 miles in any direction, or take a jeep up a steep mountain trail. You can explore environmental preserves, or just swing in a hammock and do nothing at all. Home Sellers Warning for Young Families If you're thinking about selling your home and moving up, do your homework before offering your home for sale. Read the following story to see what can happen to home sellers who don't do their math. Is Second Home Ownership In Your Future? According to the National Association of REALTORS® (NAR), a record 2.82 million second homes were sold in 2004.
|
| home | site map |
| © 2006 |
