List Categories | List All Articles | List Articles By Title
Why You Need a Lender to Sell Your Home
Home sellers who are prepared to help buyers find financing will sell their homes faster, and for a larger selling price. Think about your potential buyers: some of them will have already arranged for financing, but many don't know how to buy a house. By offering financing options and being able to help with buyer closing costs, you can open up new possibilities for selling your home.
This isn't as difficult as it might sound. By contacting local banks, mortgage companies, and lenders, you can easily find out what type of loans they offer. Also ask about credit scores, income and down payment requirements, special loans for first-time homebuyers, and if they allow you to contribute to a buyer's closing costs.
The Most Important Issue for You is the Lender's Appraisal
Many banks and mortgage companies employ appraisers who only work for them, but that practice can cost you money as a seller. For instance, I once sold a house to buyers who were financing through a bank that used an "in-house" appraiser, and I lost $13,000 in profit because of a low appraisal. Only later did I learn that the bank commonly understated appraisals, in order to protect themselves in the case of foreclosures.
Many appraisers use only past sales when conducting their market analysis, but in fast-moving market areas, those prior sales amounts may not reflect current sale prices. A more accurate appraisal will also take into account sales that haven't yet closed and the list prices of similar properties on the market, which will give a better reflection of a home's true sales value.
What about Buyers with "Pre-Qualified Letters?"
Before you agree to sell your home to a buyer who comes with a preset lender, make sure their bank uses accurate appraisals. Don't sign a sales contract contingent on that bank's appraisal. You don't want to end up having to reduce your sales price, based on a low appraised value. You can avoid that situation by including a firm price in your sales contract and giving your buyers a set amount of time to arrange for financing before the sales contract becomes void.
Finding a lender that offers a wide variety of loan programs and an accurate appraisal will go a long way toward selling your home quickly and at a higher price. It will also make it easier for buyers to purchase your home when you can tell them that your lender may be able to offer better financing and that you're prepared to pay a set amount of their closing costs if they'll use that lender.
(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
Maui Realtors: What You Need To Know
Maui is a great place for families of any size. However, before you plan a move to Maui and contact those Maui Realtors, there are some considerations that you should take care of.
Real Estate Investing - The Dream House Effect
Several years ago I developed a philosophy in renovating houses which resulted in a finished product that I call a "Dream House" or "Doll House."How many houses on the market today look very ordinary and less than perfect? How many look "Plain Jane?" What is the difference between these "average" houses and the house on the block that is strikingly different at even the distance of a windshield view?The pronounced difference in the outstanding property offered for sale might be brilliant new lawn grass.
How to Make a Home for Sale Flyer Using Marketing Psychology
Want to sell your home right away, for the highest profit to you? Discover how to improve on the Realtor's number two sales tool--right after the sign--your sales flyer.Most real estate agents use a sales flyer template which showcases their listings using out-of-date marketing strategies.
Sell Houses Fast & Top Dollar: Design Psychology
How would you like to start a bidding war for your home, ending with a sales price greater than the asking price -- all within your home's first three hours on the market? That's the kind of results you can expect when you prepare your home for marketing, using Design Psychology methods! Design Psychology's innovative interior design strategies go well beyond normal cleaning, painting, and repairs, and have been proven to increase homeowner profit while shortening a home's market time. And best of all, you don't have to spend a lot of money to enjoy the benefits Design Psychology can provide! Here are a few tips for maximizing your sales price, while minimizing the out-of-pocket cost of selling your home: First, you must emotionally detach yourself from your home and begin to think of it as simply a piece of property that needs to be sold.
Houses For Sale By Owner - Negotiating Tips
Houses for sale by owner, also known as "FSBOs," are a unique case in real estate investment. Buying from an uninformed seller who thought he knew enough to handle everything by himself can be frustrating.
Will a 1031 Property Exchange Solve Your Problems?
If your problem is listed below, a 1031 exchange may or may not be your solution.1.
Raising Money For Property Development
In addition to finding the right property, one of the most difficult aspects of property development is being able to fund the purchase and re-development of the property before putting it back on the market.Many would-be property developers have the skills and flair for property development, but lack the financial clout to put these into practice.
Where To Start In Looking For A Central Illinois Realtor
Central Illinois is an excellent location for families and businesses. Property values and local economies are growing constantly and the wide range of available properties is impressive.
The Value of Foreclosed Property
The discount on a foreclosed property is not as great if the state allows deficiency judgments by lenders against borrowers. In contrast, the discount is larger if the property is being sold in a state that requires foreclosures to proceed through the judicial system.
Wrapping a property is a simple concept that can create passive income for you and will give the purchaser a chance to buy a property which would have otherwise been out of reach at that time. However, there are a few things you must know before you jump in and trip up on some of the technicalities.
Property Investment - Buying A Holiday Home in Cyprus
Cyprus is fast becoming a property hotspot for thousands of British holiday home hunters disillusioned with the overdeveloped and overpriced Costas. Famous for its spectacular beaches, a climate that gives more sunshine days than Spain and its rich and varied history, Cyprus offers a perfect mix of foreign and familiar.
Vacation Homes Are Becoming A Reality For More Homeowners
Whether it's a lakefront cottage or a log cabin in the woods, a vacation home often seems to be a dream that only the wealthy can afford. But these days, you don't have to be a millionaire to own one.
Investment Concerns for Selling Your Home
Besides the emotional upheaval of uprooting from your home, your property is most likely the biggest investment you have ever made, and its sale causes financial stress as well. You must protect your investment nest egg and secure your future.
Reprint Rights and How To Use Them To Generate A Steady Income
I can't emphasize enough how important it is to have a step by step guide for sellers and tenant buyers. However, many of you are missing out on other income streams that these step by step guides can generate.
Selling Your Home: 5 Deal Killers That Are Lurking In Older Homes
You've listed your home for sale, you have a Buyer and now their Inspector is performing an inspection. You think you have a pretty good home, but do you really know for sure? What is he finding? Why is it taking so long? Here are 5 deal killers to watch out for when selling your home.
Transforming Doghouses into Dollhouses
Successful real estate investing depends largely on a correct assessment of a property's profit potential, but it also depends on your ability to transform a doghouse into a dollhouse. The renovation process involves physical work and choosing the best supplies, in order to create maximum positive emotional effect and profits, but if you make wise choices in your choice of colors, textures, and building materials, you'll assure yourself a fast and cost-effective sale.
The Real Estate Bubble Fallacy
There has been a lot of talk lately about the "Real Estate Bubble", and a lot of folks are asking the question: "When it is going to burst"?They are saying that the market just can't sustain this level of growth and appreciation much longer, and I heat them say that it is inevitable that it must come crashing down soon. People are worried.
Most of us don't talk about money, finances, credit, debt..
The Psyche of The Seller and The Tenant Buyer
For those of you who were not psychology majors the "psyche" is someone's mind. What motivates them.
Buying Houses: Types of Bargains to Find
To make a good profit in real estate, you must buy right. Check out all property types available to find the best transaction for your specific situation.
home | site map
All articles are copyright to their owners.
Note: this website lists articles, We do not Write Articles !