Archive for March, 2009

How to Sell Your Home: Finding Real Estate Investors

worries can have you racking your brain over how to sell your home fast. Difficulty making monthly mortgage payments can make the situation even more dire. If you list your home for sale on the real estate market in today’s sagging economy, there is no way of knowing how quickly it will sell. Financial experts say it can take up to a year for the average home in good condition to be sold. A real estate investment company can help you decide how to sell your home fast. Investors can move quickly from negotiating a sale price to closing on your property, and even offering you a cash payment for the full sale amount.

Making the right decision

How do you know if contacting a real estate investment company is the best choice? You have a couple of different choices available when you are deciding about how to sell your home. You can list it on the market or through a real estate agent, then wait for it to sell. Or your can contact a real estate investment company and get an immediate sale within days. If you are facing foreclosure, a real estate investment company makes the most sense. They have the ability to move quickly since they work with private funds to close on your home before going into foreclosure.

I reputable investment company will walk you through the steps so you understand how to sell your home for a fast payment. The company may even work with your mortgage lender directly to put a halt to any collection calls you have been receiving which can lift an emotional and financial burden almost immediately.

Don’t delay

Things move pretty quickly once a homeowner is in the foreclosure process. This means you can’t afford to wait too long to make a decision. Waiting to long will leave you with very few options. When you are researching how to sell your home fast, you will quickly learn that time is money. The longer you wait, the more late fees and other costs grow.

Should you consider bankruptcy?

Some homeowners struggling with mortgage and other bills will automatically consider bankruptcy as a way to end the overwhelming feelings financial troubles can create. They think they can just claim bankruptcy on all outstanding debts, including the house to wipe away their current troubles and then just start over. Both a foreclosure and a bankruptcy will have a very negative effect on your credit. Initially it can seem to be the perfect solution, but a worse case scenario could result in a bankruptcy and a foreclosure on your credit report. The best thing to do if you are dealing with financial troubles and believe you may become a victim of foreclosure is to talk to an investor to discuss how to sell your home fast.

Contact a professional home buying service

Knowing where to find a professional real estate investment company can work to your advantage when you need to know how to sell your home before you lose it to foreclosure. Knowing how to sell your home fast before foreclosure allows you to pay off your mortgage and eliminate the stress.

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House Buying Blunders And How You Can Avoid Them

Let’s face it, it seems almost impossible to learn everything there is to know about the home buying process.

In this article we will look at some of the mistakes that can be made and how you can avoid them.

There are so many tasks and details that it’s easy to become lost in all the information you receive about the process.

Sometimes you don’t realize a home buying mistake until you’ve made it. Here’s a list of home buying mistakes that could be made by anyone, first time buyer or tenth time buyer.

Using the inspector recommended by your agent. Sure, it seems like your real estate agent only want to provide you with the help you need. That’s why you hired him, isn’t it?

Just because your real estate agent is helping in the home buying process doesn’t mean you have to take his suggestions on the professionals to use in the process. In fact, it’s probably best if you choose your own inspector.

You never know what kind of relationship the real estate agent has with the inspector and how that relationship impacts your purchase decision, which is why it’s best to find your own. That way you don’t have to second guess who is helping whom in the real estate transaction.

Listening to advice about what you can afford.

Don’t be surprised to receive advice from your agent, your mortgage broker, and your lender about what you can afford to pay for your mortgage.

Just because these professionals have experience in working with borrowers doesn’t mean they know your financial situation better than you.

This is why financial preparation is so important to home buying. You need to understand your budget and know how much you can afford to spend a mortgage.

Don’t let anyone talk you into spending more than you are comfortable spending.

Opening or closing credit accounts. Either of these actions will have an affect on the all-mighty credit score, which is used by lenders to determine your credit risk.

If you make a change to a credit account it could change your credit score in a way that causes you to pay extra in interest, or even worse, be denied for the home buying loan.

Leave the credit cards alone, at least until you’ve been approved for the mortgage. Then you can open credit accounts at your discretion.

Not investigating the neighborhood. This is the place where you are going to be living for the next 15, 20, or even 30 years. Shouldn’t you find out as much information as you can about it before ending the home buying process?

You should visit the area at different times of the day to get a feel for what goes on throughout the day.

Interview some of the neighbors on how they like the area and the direction they feel it’s going.

You’ll likely find out a ton of information your real estate agent couldn’t give you because of fair housing laws.

Of course you want your home buying process to go as smoothly as possible. Some home buying mistakes might be unavoidable, but you should always take steps to prevent the big ones from occurring.

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Sell Your Home in 2 Weeks for Top Dollar

You don’t have to be a super investor or real estate guru to know that it’s difficult to find a buyer for your home these days. So many potential buyers have been shut out by lenders that they’ve actually shot themselves in the foot. The pool of buyers nation-wide has shrunk considerably. In your hometown for every qualified buyer there’s bound to be multiple homes available to them, that’s why they call it a “buyers market”. Savvy homeowners, Realtors, brokers and investors are now reverting to strategies from over a decade ago to sell their homes at top dollar within weeks rather than months.

The strategy is called “Owner Financing”. Traditionally to sell your home with Owner Financing you would need to have a mortgage paid in full and own the home outright. Then, you would carry a note on the terms you agreed upon with your new buyer. In short you become the bank. You carry a lien on the property and are paid according to the terms of the note until they refinance, pay you off or you foreclose when they can’t make the payments. There are great advantages to offering owner financing as you can decide the terms, the buyer and control the process. However there are some risks involved such as potential foreclosure and the liabilities that go along with lending.

Owner financing does not work for many because the majority of homeowners and home sellers have a mortgage. The only folks most of us know that own their homes outright are usually the rich, very fortunate and grandma/grandpa. For the rest of us we’re paying a lender to borrow the money in order to live in our home or paying rent to a landlord who’s paying a lender to live in our home.

Approximately 70% of America is “Credit Challenged” and have been locked out by traditional lenders from buying a home. That means the 30% who can get a loan, if they are looking to buy, are getting great deals and beating up the sellers out there. There’s typically one type of buyer called “A” credit. That’s where “Temporary Owner Financing” can be a very useful tool. IF YOU’RE SELLING A HOME FSBO, REALTOR, BUILDER OR INVESTOR, LISTEN UP…or read more intensely!!! The Credit Challenge buyer needs your help to qualify for the home. YOU CAN PROVIDE OWNER FINANCING even if you have a mortgage if you’re willing to give up a little equity on the front end. You simply sell your note at a discount to a note buyer for top dollar at closing. Most sellers are already giving up plenty of equity to even attract a living, breathing body that is interested in their home, so this shouldn’t be a shock to you. You can now offer financing to all types of buyers, not just one. B, C and D credit buyers will be flocking to your home wanting more information about your financing and what you can do for them. Not to mention all the attention will also attract “A” credit buyers as well.

Here’s how Temporary Owner Financing works:

1. Find a note buying service that will purchase your note at closing for top dollar.

2. You advertise your home at top dollar offering owner financing.

3. You get the home under contract with an end buyer that qualifies with your note buyer.

4. At closing your note gets purchased at a small discount and your mortgage is paid in full.

5. The new buyer now has a mortgage with your note buyer and you smile and say, “Thank you very much”.

Using this method you’ll get more written offers, quicker and at full appraised price. You may not even need to use the note purchasing service if you attract a buyer that can qualify for a sub-prime loan. In that case, you can even reduce your home price if you wish for any pre-approved buyers. And your initial offer of Owner Financing will help increase your showings thus making this a good possibility.

So, if you want to sell quickly at top dollar, here’s a strategy of becoming a solution to the problem of today’s housing market.

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