Tuesday, April 29, 2014

I Need To Sell My House Fast! Out of Town Owner and Vacant homes too! Hollywood FL Pembroke Pines FL Miramar FL

It is very common these days for a homeowner to unexpectedly find themselves needing to sell their home fast. But, where do you start and how should you go about selling your home especially if you have recently said "I need to sell my home fast"? There are all sorts of reasons why someone would need to sell their house fast. You could be behind on payments, facing foreclosure, lost a job, vacant house how you got where you are isn’t particularly important. The important thing is how you should turn your debt into an asset by selling your home fast. By the time you`re thinking "I NEED to sell my house fast", it is probably too late for waiting around for a buyer either by listing with a realtor or "for sale by owner". You need to sell your house as fast as possible but what are your options? In most neighborhoods there are lots of homes are for sale and only a few buyers. Being in competition with all of the other sellers forces you to be creative in finding a way to you’re your house fast. To be successful in selling your house fast in a slow market you just have to be more creative at selling your house for sale. The number of houses being sold is way down, but houses ARE selling. Get your house ready to show inside and out then use a unique marketing message such as an auction that will encourage browsers to make an offer on pronto. Begin my making the outside of the house look clean and well taken care of. "Curb appeal" allows those looking to buy a house to assume that you have taken great care of the house. On the inside, fix all of those repairs that have been on your to do list, de-clutter, and make it nice and tidy. New paint and flooring always make the house cleaner and updated. Use a unique marketing technique such as an auction rather than waiting around for a buyer. Post a sign in your yard, put up road signs, take out ads in papers, and tell everyone you know that you are auctioning off your house. Explain to callers and others that are interested that you holding an open house/auction on Saturday and Sunday. Then let them outbid each other on Sunday night so you will get the highest price and a quick sale. This will encourage lots of people to show up to an open house and compel them to make an offer. A do it yourself auction sale requires time because your phone will ring off the hook and resources but it could sell your house fast. If you need to sell your house fast but aren’t interested or can’t spend the time and resources on prepping your house and hosting an auction you can always sell your house to a professional real estate investor. Not all investors are created equal so be sure to deal with a reputable, respectable and honest company such as www.SellFloridaHouseNow.com. or call 954 247 1353. Article written by John Davidson

Saturday, April 26, 2014

Bankruptcy Leaves Many Homeowners and Investors Responsible for Empty Homes Pompano Beach FL Coral Springs FL Coconut Creek FL

If property owners, landlords and real estate investors believe they can file bankruptcy and leave their houses behind without a worry, they should think again. Bankruptcy will not let property owners off the hook for maintenance and other real estate liability. Another client base for real estate servicing businesses, like foreclosure cleaning businesses and lawn care companies, is fast-becoming homeowners like these -- those who have surrendered their houses via bankruptcy, but who have not yet been foreclosed on by their finance companies. Read on to find out more. Consequences for Homeowners and Investors Walking Away after Bankruptcy What are the consequences when a homeowner or landlord walks away after filing bankruptcy? The consequences can be new debt owed in the form of county fines for property neglect, and worse, new liability in the form of law suits if someone gets hurt on the property. The municipalities issuing property violation fines will fine the property owner of record listed with their county office. And until a foreclosure gets the owner's name off the record, the bankruptcy filer will still be on the hook. What Good is Bankruptcy if the Landlord or Homebuyer Still Owns the House after Bankruptcy Discharge A bankruptcy and successful discharge simply means that homeowner is relieved of having to pay the mortgage debt. It does not excuse them from property upkeep, taxes, homeowners' association fees, and similar responsibilities, for the house in question. (For more information, see http://www.foreclosure-cleanup-blog.com/?p=7369.) When the lender, finance company or mortgage company forecloses on the property, the homebuyer will no longer own the home. Client Source for Foreclosure Cleaning Business Owners Another client source for real estate service companies similar to foreclosure cleanup business services and yard and lawn maintenance companies is homebuyers and landlords who have (1) gone through a successfully discharged bankruptcy, but (2) have not gone through a successful foreclosure. Once property owners realize they are still the liable parties, they often move back in and live for free until the lender foreclosures. Or, they rent out their homes to cover property maintenance costs and to prevent vandalism, crime and damage that often occur as a result of a home sitting empty. The homeowners and landlords often seek to hire home maintenance and foreclosure cleaning business services for lawn care, home repair, debris and hauling, and similar foreclosure cleanup duties, to get their homes back in shape for move-in or for the rental market. Written by Cassandra Black. Sell your empty house to me. Call 954 247 1353 or click here

Friday, April 25, 2014

Vacant Homes Under Perform in the Marketplace 954 247 1353 Plantation FL Sunrise FL Davie FL

Any real estate professional will tell you that an occupied home will sell 30-50 percent faster than a vacant house. Additionally, it will command a higher sales price, by 5-6 percent. Vacant homes tend to expose every little imperfection because the eye has no distractions. This can be a significant problem in all but the newest residences. A furnished or staged home appeals to the buyer's imagination. They can see what they would do with a room when given visual cues about its purpose. Also, curb appeal on an empty house can plummet rapidly if the property is not cared for appropriately. There are, of course, times when having an empty house on the market is unavoidable. Vacant Homes Can Be Costly to Maintain There are many ramifications to maintaining a vacant property for sale. Not only will you face dual mortgage payments and taxes, but the premiums on your homeowners insurance for the unoccupied house could well double. To the insurer, the risk profile of an unsupervised residential dwelling escalates dramatically due to the increased chance of vandalism and prolonged damage from malfunctioning home systems like the plumbing. Any leak from a broken pipe is bad, but three days of leakage generally trumps three hours. Consider Hiring a Caretaker One option is to engage the services of a caretaker. There are agencies that supply long-term house sitters for a fee, or sometimes no fee. There are actually people who live their lives as nomadic house sitters, moving from one property to another. They care for the home in exchange for a place to live for a few months. This arrangement allows the owner to avoid issues with tenants who are paying rent and may have an expected length of occupancy. A sitter can usually be out of a home in as little as 10 days after closing, but vacating a renter in a timely fashion is more difficult. Using the services of a paid or unpaid caretaker also resolves the escalated insurance issue and can provide much greater peace of mind for the owner, especially if that person is living in another town or state. Home Staging Can Speed the Sale of an Empty Property If you are not comfortable with the caretaker option, at the very least consider hiring a company to stage the home with furnishings and decor. Most buyers have an astonishingly poor imagination about how a home would look furnished and "lived in." Even minimal furniture and the suggestion of purpose or use for a given room or area can dramatically speed up the sale process. Maintain Curb Appeal at All Costs It is also well worth your while to pay a yard service to keep the grass mowed and the bushes trimmed. Homes located in areas where fire ants and other problem pests are prevalent should be sprayed regularly while they are on the market. No buyer is going to want a property with a visibly entrenched fire ant presence in the yard, plus the insects are attracted to wiring and electrical systems and can cause serious physical damage if left unchecked. It is also extremely important to keep swimming pools at vacant properties clean and well maintained. At one time a pool was a no-brainer in terms of enhancing a property's value. Now, many homeowners see a pool as a pit of added expenses and labor; something they just don't want to fool with. If they're wavering on the edge of that perception and step out in the backyard only to be confronted with a concrete swamp, they will beat a hasty retreat and take their checkbooks with them. Vacant Homes Create a Psychological Disadvantage The longer a home stays on the market, the more desperate the owner becomes to sell. This explains the price discrepancies in vacant houses. Never for a minute think that the prospective buyer, and especially his real estate agent, don't know that. They will, understandably, use that psychological advantage to negotiate a lower price -- especially when the house is obviously empty and has obviously been that way for quite some time. Although it may be unavoidable to put a vacant home on the market, there are things you can do to make it look occupied or to see that it is occupied until it sells. This will lower maintenance costs, especially where insurance is concerned, maintain the home's condition, and insulate the seller against the psychological disadvantage of apparent desperation during price negotiations. Anything spent in keeping the home looking "lived in" will be recouped both in terms of speed of sale and dollar amount received. Written by Darrell Self and Paul M. Marshall. Sell your vacant house. call 954 247 1353 or click here

Thursday, April 24, 2014

Abandoned Properties: a New Opportunity 954 247 1353 SellFloridaHouseNow.com Sunrise FL Weston FL Davie FL

The collapsing real estate market is creating some exciting new opportunities in real estate for savvy investors not afraid to capitalize on a new opportunity. When real estate was hot and the market was rising, and interest rates were stable, millions of Americans opted to roll the dice on adjustable-rate mortgages. Now the market has tanked, and so many have lost their bet, rates are resetting and hundreds of thousands of mortgages are in jeopardy. A lot of these property owners have become subprime risks, and as a result are unable to refinance. Facing payments they can't make, some are simply walking away from their properties. This is bad for the homeowner, but for investors it's an once-in-a-lifetime opportunity. When I mention the phrase "walking away from their property", I literally mean homeowners are abandoning their property. When abandoned property is mentioned, the mental image that comes to mind is typically a dump somewhere in the ghetto, with boarded up windows, and junk strewn about the yard. This is a classic example of an abandoned property, but it's also somewhat antiquated. In 2007, an abandoned property can be a half million dollar home in a very good neighborhood. If the owners can't make payments, rather than face the indignity or the embarrassment of foreclosure, many of them pack their belongings into a U-Haul truck and drive away hoping to avoid the problem altogether. The home owner then mails the keys to the bank. Banks call this "Jingle Mail". As a savvy real estate investor, you can cash in on this opportunity by locating a well-qualified abandoned property, tracking down the owner, and convincing them to sell to you. It's not as difficult as it seems. The best place to locate abandoned property that might fit your investment criteria is in middle or upper middle class neighborhoods. Good signs of abandonment are properties that are obviously vacant, as well as overgrown with weeds or covered with unshoveled snow. These properties may have newspapers piled up on the porch, and may be showing some signs of distress. If you simply drive your target neighborhoods you'll locate possible abandoned properties. You won't know for sure it's been abandoned until you investigate the property a little more closely. A good place to start is with the next-door neighbor. When you approach the neighbor, be certain to point out that you're a real estate investor and that you're possibly interested in purchasing the property. A little questioning at this point will tell you whether the property might be worth your time, as well as your effort, in tracking down the owner and trying to purchase it. While there are a rising number of abandoned properties, it can sometimes be a bit of a challenge locating the owner. These properties lend themselves very well toward creative financing techniques because the owners are extremely distressed from a financial standpoint. In situations where the owner has simply walked away from the property, monthly mortgage payments are coming due like clockwork on the first of every month, and whether they're aware of it or not, the owner is still on the hook. In addition, property taxes and insurance premiums still have to be paid. Long story short, this property is a major headache for the owner. If the owners aren't making their payments, eventually the bank is going to foreclose on the property, and take it back as an REO. If this happens, a major headache for the property owner becomes an Excedrin headache for the bank. Your greatest potential for large profits is before the bank forecloses, so you want to reach the owner before the bank does. Last month I told you about the opportunity abandoned property can represent as a new investment strategy. Knowing that these properties exist is only half the battle, especially if you don't have a clue as to how to go about locating the owner. While the owner's can sometimes be difficult to locate, if you're willing to put on a detective's hat, you can usually locate them fairly easily. Once you have located your target property, take a walk around the yard and look for any clues that may have been left behind by the owner. Many times the yard will become overgrown and you may discover a for-sale sign lying in the yard with a telephone number on it. You might also look in the window next to the front door for legal notices. Another strategy you can use is to speak with the next-door neighbor. Explain to them that you are a real estate investor that is possibly interested in purchasing the property. Ask if they happen to know how you might be able to go about getting hold of the owner. If you have a business card, give it to them, because this can build credibility for you. They may not know how to reach the owner of the property, but a lot of them know much more than they're willing to tell you. By leaving your card you give them a means of reaching you at some point in the future if they discover the whereabouts of the owner, or later learn how to reach them. In addition, if they do know where the owner is, they may not want to tell you for fear of violating a friend's trust. If they have your card, they have ample opportunity to contact the owner of the abandoned property to let them know that someone is trying to reach them. You may wonder why a neighbor might be secretive about the actual location of the owner. It's really simple: if the owner has walked away from their property, they know that the bank will eventually be trying to reach them. Furthermore, they may be experiencing other financial difficulties as well. If this is the case, the neighbor may just be trying to protect them from bill collectors or process servers. In any event, by leaving your card you do make it available for the owner to reach you. If your efforts to reach of the owner through the next-door neighbor or other nearby neighbors don't yield results, you can always venture a trip to the county courthouse for a manual records search. This can be somewhat time-consuming, but when you're done, you will have the name of the owner. With this information in hand there are a couple of other strategies you could implement. The first is to go online to www.reversephonedirectory.com and fill in the information that you do know. It'll cost you a few dollars, but it may very quickly yield results in the form of a telephone number you can use to contact the owner of the abandoned property. If that resource fails to pay dividends, there are other resources online as well. A simple Google search may tell you what you need to know. Another way you can try to reach the owner of the abandoned property is by putting the power of the US Postal Service to work for you. Simply address an envelope to the owner of the abandoned property and mark the front of the envelope "Address Correction Requested". Once you've ensured that you've put your return address on the envelope, mail it. When the Postal Service sees that you're requesting an address correction, they'll send you a postcard with the owner's updated address if they have one on file. These strategies aren't guaranteed to locate the owner of every abandoned property, but they'll usually yield results more than 90% of the time. Once you locate the owner and make contact with them, you can present a creative offer that will not only solve the owner's problem, but will help you to expand the size of your own real estate empire. You can utilize traditional or creative investment strategies at this point. Because the owner has his back against a wall, he's usually willing to entertain any idea that will solve his problem, especially if you can help his problem go away with minimal pain.. Writtten by Copyright (c) 2008 Michel Lautensack If you need to sell your vacant empty abandoned property call 954 247 1353 or click here

How Vacant Homes Hurt My Property Value 954 247 1353 SellFloridaHouseNow.com Weston FL Davie FL Sunrise FL

You may just think of the vacant home as an eyesore, but did you know that it can cause even more problems then just not being nice to look at. In this article we will look at a few ways that vacant homes can hurt you and your neighborhood and some things you can do to counteract the problem. Low Appraisals If you are going to be selling your home you could well be surprised at how much lower your property value is because of the foreclosed property in your area. If you only have a small number of foreclosures in your area the appraiser will be able to compare your home with other homes that are in good standing. Sadly when there are a lot of foreclosures and short sales in your neighborhood the price of those homes will effect the price of your home in a harmful way. Worse yet, if you have a lot of foreclosed and vacant homes you will not only have the problem of lower property value but also the perceived value of the home due to a lower desirability of the entire neighborhood. Also if you find a buyer that is interested in your home they may have a hard time getting a federally secured loan if there are a lot of foreclosures where the current homeowner's have failed to pay HOA fees. You may still have problems even if you are getting your loan without federal funding. Vacant homes invite pests. Uncared for homes become a playground for pests. When the yard is not trimmed or the structure of the home is not maintained, your new neighbors may be termites, mosquitoes, and spiders. Damaged wood can be a nice feeding ground for termites and standing pools of water becomes a breeding ground for all manners of flies and pests. This can spread throughout your own neighborhood costing a fortune in pest control measures. Vacant Homes invite Crime. On top of the pest concerns, vacant homes are prime targets for arson and vandalism. With a higher crime rate in your neighborhood, your homeowner's insurance and homeowner's association fees may increase. Municipal money is wasted. If the pest and crime becomes a very big issue it will also start to cost tax payer money to try to control the problems. This means that money that would otherwise be used for school systems, parks, and other safety measures it will instead have to spend that money to take care of the problems associated with vacant homes. Things You Can Do As we have shown in this article vacant homes can be much more then a simple eyesore to the neighborhood and can actually reduce the value of your home. There are luckily a few things that you can do in order to counteract these problems. The first thing to do is make sure that you let the local authorities know that a house has been abandoned. In some areas there are laws that will require the bank to maintain the home. You can also call the bank yourself and let them know that the house has an overgrown lawn and that no one is living in it. If your neighborhood does not have these types of laws you may want to bring it up to local officials. You can also start a vacant property registration to keep track of contact information on who owns the homes in your area. If you know that a bank is not taking care of their responsibility you might want to consider making a public notice in the local newspaper and some banks will take care of these issues to minimize negative publicity. You could also get with some of your neighbors to take turns mowing the lawn and parking vehicles in front to make the home not look vacant. You can find companies that buy houses that will find the property interesting and be interested in buying the home. Written by Melissa Gifford. Sell your vacant abandoned house to me. 954 247 1353 or click here

Wednesday, April 23, 2014

Vacant Homes - 5 Tips to Cure the Most Costly Problems of Vacant Houses Ft Lauderdale FL Hollywood FL Sunrise FL

You have transferred across country, your home is on the market but not getting very many showings, weeks go by before anyone visits the property. A potential disaster is waiting to happen. Your vacant home, vacant rental units, unused vacation and second homes are where major problems can easily occur when no one is checking. Here are 5 problems that can be avoided if you or your agent pays attention. 1. Winter Time Disasters - A home that is in areas of freezing weather without being used are sitting ducks for water damage from frozen bursting pipes. Having a plumbing contractor winterize the property is the best solution. They will turn off the water supply drain water from all pipes and flush an antifreeze mixture into the drain traps and lines. If your property will be occasionally used during the winter months turn off the main water supply and set the thermostat to 55 degrees. Burst pipes and water leaks in vacant house can cause 10's of thousands of dollars in damage that your insurance may not pay and they also may drop the policy on a vacant house. 2. Break-ins - Vacant homes are a great place for trouble makers to stay out of the weather. The potential for fires and vandalism is much greater in vacant homes. Last week I was showing a vacant foreclosure to an investor as we entered the front door we heard a lot of noise coming from the back of the house we quickly went back outside just in time to see two people running through the rear yard away from the house. A weekly check of the property to make sure the doors and widows are locked or secured can prevent this from happening. 3. Insects and Critters - Squirrels raccoons and bats can make their way in down through the chimney or in to the attic with no one in the house to disturb them they can cause serious damage to insulation, walls and carpets. These animals can also bring in insects such as fleas. The family dogs and cats can leave fleas. When a family moves out with their dog the flea eggs remain in the carpets and will continue to grow and produce more eggs the fleas can infest the house just waiting for the new tenants or owners to move in. Maintenance programs and quarterly interior and exterior insect treatments will help stop this problem. 4. Overgrown Trees, Grass & Shrubs - Landscaping overgrown, trees, shrubs not trimmed can cause unforeseen problems. Covers up evidence of break-ins, actually attracts crime. Large shrubs can damage the home by holding moisture in the ground and against the walls great for termites. Overgrown landscaping can cause problems with rain gutters and downspouts leaves and sticks just naturally get in gutters. Can cause winter ice problems for the roof and overflowing down the exterior walls or back over into soffits. Not to mention the lost curb appeal for new buyers or tenants. Creating and maintaining good curb appeal will prevent problem your landscape can cause. 5. General Maintenance - more sales and rentals are lost because of the overall lack of maintenance of properties. The costs associated a leaking toilet or dripping faucet can be measured in dollars but the broken window, light bulbs missing or not working dirty kitchen and bathrooms the doors that don't work rotted wood and missing shingles can take thousands from your income or sales price. Contracting with a maintenance company can keep your property in good presentable condition and can put money back in your pocket. Weekly inspections by your agent or a property manager is a must if your home is for sale and vacant. Make arrangements with your agent either to inspect the property of have a maintenance company do the inspection and complete repairs as needed. The most efficient way to operate your vacation rental or second home is to work with a property manager who will do weekly inspections as a normal course of business and make necessary repairs. Written by Bill Carey. Sell your vacant home to me! call 954 247 1353 or click here

Tuesday, April 22, 2014

Can Bankruptcy Save My House? 954 247 1353 SellFloridaHouseNow.com Southwest Ranches FL Davie FL Weston FL

The filing of bankruptcy activates the automatic stay which prevents all creditors from any action to gather their claim including foreclosure. Can Bankruptcy Save My House? A creditor secured by the house can find relief from the stay to complete the foreclosure if there is danger that the secured claim will become larger than the value of the security during the bankruptcy. Since the creditor's lien is not removed by the bankruptcy, Chapter 7 provides temporary relief from foreclosure, but no lasting solution. If you are among the record number of under pressure families who face increasing mortgage payments on a home where much of the value has already gone, you may be running out of options. Most banks are not eager to renegotiate rates or extend loans, opting instead to foreclose on properties. Can Bankruptcy Save My House? If you are about to lose your home through foreclosure, filing bankruptcy can seem enticing. As soon as you file bankruptcy, your lender will suspend foreclosure proceedings temporarily. Your lender's attorneys will then present the court that your lender has a security interest in your home. The bankruptcy court will likely let your lender to continue foreclosure. Although you may maintain your home for a few months more, the consequences of filing bankruptcy and home foreclosures can cause long term financial suffering. Legal proceedings such as bankruptcy and foreclosure remain on your credit history for ten years. Although it may be possible to get credit within that time, it will likely cost more in interest rates and additional charges. It is possible to qualify for a mortgage loan right after your bankruptcy has been discharged or your property seized, however, the terms are usually so adverse that few borrowers actually obtain one. The rising use of credit reporting and scoring by employers, insurance companies, and other entities can reduce your options if you have a foreclosure and/or bankruptcy on your credit record. We know your house is important to you and your family. We also want you to create good economic decisions. Your bankruptcy lawyer will discuss the costs and benefits of home ownership with you. Your bankruptcy attorney will also help you decide whether it is the best decision for you and your family to try to stay your home. And if this is your choice, your bankruptcy attorney will help you craft the best plan to give you the best chance of winning the battle to save your home from foreclosure. If losing your home is pending then you may be considering bankruptcy as a way to absolve all of your debts and start with a clean slate. However, there are many negative phases to filing for bankruptcy. Any credit cards that are included in your bankruptcy claim will no longer be applicable. Any cars that are in the claim will be retrieved. You will be dispossessed from your home if the mortgage is included. Your credit will be totally ruined and a bankruptcy will remain on your record for ten years that is three years longer than a foreclosure. Therefore bankruptcy should be your very last choice if it is at all avoidable. But you do not need an attorney to file bankruptcy. It could cost you a lot of money. You can always hire a bankruptcy petition preparer to prepare your petition. They only charge less, they are authorized to do it and the end result is the same. by Steve Young. Sell your house to me. Call 954 247 1353 or click here!

Monday, April 21, 2014

How To Stop Foreclosure From Happening To You 954 247 1353 SellFloridaHouseNow.com Hollywood FL Miramar FL Pembroke Pines FL

Stop Foreclosure - 1st Foreclosure Prevention negotiates with your lender to lower your mortgage payments, avoid foreclosure and negative credit impact. The purpose behind this report is to help you decide which option is best for you when it comes to preventing the foreclosure process. The way to do this is through information. You cannot have too much information when it comes to the foreclosure process. The more you know, the better informed you are of your choices. You do not have to walk into the foreclosure process blindfolded - there are preventative measures that you can take. It is important that you know the options that are available to you. The options that you choose will depend on whether you want to keep your home or sell your home. This report can give you some of the information regarding these choices. Before making a choice, however, you should talk with a loss mitigation specialist who is familiar with the foreclosure process and who can analyze your case. After you read over this report, you should call or contact 1st Foreclosure Prevention so that you can get a free foreclosure evaluation that can weigh your options against your unique set of circumstances. All foreclosures are different and all come with a unique set of circumstances. The main reason why people go into foreclosure is due to a loss of income. This can occur because of a loss of a job, an illness or even a divorce. During troubled times, it can be tempting to just try to ignore the situation rather than seek help. But sooner or later, you have to face the fact that you may lose your home, which is when you will act. At 1st Foreclosure Prevention, we give you choices that you can make that can occur throughout the foreclosure process. Time is not your friend when it comes to foreclosure. The minute your mortgage payment is more than 15 days late, you are assessed with a late charge. The calls begin after the loan is more than 30 days past due and do not stop. Lenders today do not want to foreclose, but have no choice if you are not responding to them. They will most likely send you one letter before they file a Lis Pendens or a Notice of Default in the court of the county where your property is located. Then, everyone will know that you are going into foreclosure as this is public information. If you have already been through this process and received a notice, you are probably inundated with calls and mail from those who say that they want to “help.” Who do you trust? Bankruptcy lawyers will urge you to file bankruptcy, which should never, ever be the first option when it comes to stopping foreclosure and, in many cases, will not save your home. Some companies that say they are loss mitigation companies will urge you towards a loan modification that they receive a fee for up front. At 1st Foreclosure Prevention, we do not push you towards any option that may not be right for you. We take a careful look at your particular situation and then come up with a solution to suit your needs. There are two solutions that we look at - keeping your home through a variety of different methods, and selling your home in a variety of different ways. Choosing one of these solutions that is right for you depends on your circumstances. There are three ways that you can stop foreclosure and still keep your home. They include reinstating your loan, refinancing your loan or declaring bankruptcy. These choices may or may not work for you. Let’s take a look at them and see how they stack up against one another: Reinstating your loan can consist of more choices. You may want to borrow money from a third party and get your loan up to date. You can talk to your lender on how much you need to borrow in order to stop the foreclosure process and get your loan current. Many times, the lender will waive some of the late fees if you promise to catch up on your mortgage. In some states, there is no reinstatement available after the judgment has been entered and the date of the foreclosure sale set. Other states allow you a right to redeem your property even after the sale. This is something that your loss mitigation specialist at 1st Foreclosure Prevention can help you understand. If you can reinstate your loan, there are several ways to do it. These include a total reinstatement, a repayment plan, a loan modification, a forbearance and a partial claim. Total Reinstatement In order to use this option, you have to be able to make your loan current right away. This is usually done when you borrow from a third party. This option makes sense if you went into foreclosure due to some problem with income, such as the loss of a job, but are now back on your feet and financially able to pay your mortgage. This option does not make sense if you are struggling to pay your mortgage as it is and can often get you deeper into debt. Repayment Plan Lenders will often tell you that in order to stop the foreclosure process, you have to go for a total reinstatement. This is not true. Many lenders will accept a repayment plan if you are in a better financial position to repay the mortgage. The late mortgage payments can be spread throughout the other mortgage payments for up to 12 months, until you get caught up. If your lender is telling you that you need a total reinstatement, you can use a loss mitigation service that will be able to succeed with your lender where you cannot. This is because you are most likely not talking to the right party. This works well if you can make up the delinquent payments with larger payments and are not struggling to pay the mortgage. Loan Modification A Loan Modification plan can help stop foreclosure as this entails a loss mitigation company renegotiating the terms of your mortgage. Many loss mitigation companies steer clients in this direction because they get a fee upfront. This is a good option if you are able to make the new payments and are financially stable. This is not a good option if you will be still struggling. It is also important to know that not every lender will accept a loan modification agreement and will proceed with the foreclosure. Forbearance You can suspend your mortgage payments for a short period of time by asking for a forbearance. This will allow you time to get back on your feet, after which you can make your mortgage current. This is a good option if you have lost your job and are optimistic about getting a new one that will enable you to pay your mortgage. This is not a good option if you just want to forestall the inevitable, although it can be a tool that comes in handy to stave off foreclosure if you are selling your property. Loss mitigation specialists at 1st Foreclosure Prevention can help you with a forbearance and let you know if it is right for you. Partial Claim You may or may not qualify for this program that is usually reserved for loans made through Freddie Mac or Fannie Mae. You can pay about 30 percent of the delinquency due and the lender will work out a program with you so that you can repay the existing delinquency balance interest free. This can be a good option if you will be assured of a better financial position and can repay the mortgage. The biggest advantage to using one of the reinstatement programs to stop foreclosure is that you can keep your home. The biggest disadvantage is that many people tend to lose more money when using these programs as they continue to struggle with foreclosure, fall deeper into debt and end up losing their home anyway. These options will only work if you can be sure of being able to pay at least 75 percent of your current mortgage payment. If you have no equity in your home or very little, you may want to talk to your loss mitigation specialist at 1st Foreclosure Prevention about a workout agreement where the lender will take less for the home than what is owed in event of a sale. You need to have a professional loss mitigation specialist working with you when you choose this option so that your rights are protected. This can be an option for you if you do not qualify for a sale to an investor or owe a lot more on the property than the property is worth. It takes a great deal of negotiation to get the workout agreement to the point where it does you benefit. For many people, this is not an option, but for some, especially those who have property in a state of disrepair that prevents them from selling with a real estate agent, this can be the only option. When you are facing foreclosure, you do not have to feel helpless. There are many options open to you to help you stop foreclosure from happening to you with regard to trying to keep your home and selling your home. When you are facing foreclosure, you should talk to a loss mitigation specialist at 1st Foreclosure Prevention who can give you a free evaluation based upon your set of circumstances and further explain how the foreclosure process works, how it can be prevented and what impact it can have on your credit. You do not have to feel helpless in the face of foreclosure. There is help available to you. Whether you wish to keep your home or if you just want to sell it and get a fresh startFeature Articles, loss mitigation specialists can help you find the right option that will work for you. You have made the first move towards helping yourself avoid the foreclosure process in getting this report. Make the next move and contact 1st Foreclosure Prevention so that you can get a free foreclosure evaluation of your situation and find out the right next step that you can take to prevent foreclosure from happening to you. Written by Melville Jackson. Call me 1st at 954 247 1353 or click here

Friday, April 18, 2014

Foreclosure and Divorce: What Options Do I have? 954 247 1353 Pompano Beach FL Coconut Creek Coral Springs FL

Many couples are dealing with foreclosure in the midst of their divorce because they either no longer want to or can’t afford to make the mortgage payment. In the old days, they could list the property for sale and pocket their share of the equity and go their separate ways. In today’s housing market, their mortgage often exceeds the market value of their property. The thought of having to come up with large sum of cash just to sell the house is frightening. We are all painfully aware that foreclosure has risen dramatically since 2007. Most people are aware that 50% of all marriages in the America end in divorce. Some people are aware that 20% of all residential properties with a mortgage nationwide are now underwater. But few people are aware that 7 out of 10 homeowners go into foreclosure without visible intervention! Why? Because they simply don't know who to turn or even where to start. Does this ring true for you? If so, you probably want to know…what options do I have? Let me suggest a few: 1. One spouse takes over. One spouse gets the title and refinances the joint-mortgage to release the other spouse from further financial responsibility. Unfortunately, lenders are reluctant to refinance a joint-mortgage into one spouse’s name if he/she doesn’t qualify on his/her own. If the refinancing effort fails, then the other spouse remains on the hook (may be able to sue to enforce the divorce decree). However, this approach does not solve the issue of negative equity of the property. 2. Business partnership. The couple keeps joint title and mortgage as is and tries refinancing or loan modification to reduce payment if necessary. One spouse lives in the property and pays a large portion of the mortgage while the other spouse contributes the remainder. Once the market rebounds, the property is then sold and the profit is split up. The issue here is the lack of finality for the divorce as both parties remains liable for the other’s actions for an unknown duration. 3. Lease then sell. Both joint title and mortgage remains as is. As before, they try refinancing or loan modification to reduce payment if necessary. Then, rent out the property and apply rental income toward the mortgage. Make sure that you are not violating the mortgage by converting it into a rental and you meet the rental licensing requirements. The pros and cons in the second scenario apply here as well, with the added responsibility of being a landlord. 4. Settle debt via short sale. If successfully done, a short sale allows homeowners with financial hardship (such as a divorce) to sell their property for less than what they owe, satisfy their mortgage, possibly eliminate deficiency judgment, and minimize credit damage, without paying realtor commissions. You’ll need to consult an accountant to understand potential tax liabilities as a result of debt cancellation. The issue here is that 90 percent of short sales fail nationally because most agents are completely unaware of what the lenders want. Choosing a competent professional is the key to this option. 5. Do nothing. Allow the property go into foreclosure and remain in the home for as long as possible and pocket the mortgage payments for the duration. The issue here is that the homeowners remain liable for the deficiency amount as a result of the foreclosure sale. For example, if you owe $150K and the property sold for $100K at the foreclosure sale, then you will remain liable for the short fall of $50K plus all legal fees involved. In some states, the lender has the right to garnish wages to recover the shortage. Not to mention that a foreclosure has the most devastating effect to a person’s credit rating and has the potential to hamper future employment opportunities. 6. File bankruptcy. You must consult competent legal advice. In general, bankruptcy has devastating effect to a person’s credit rating. If one spouse files for bankruptcy, the other spouse may be affected. However, bankruptcy is worth pursuing under certain circumstances. For example, Chapter 13 lien stripping can potentially eliminate second and third mortgages on the property and Chapter 7 bankruptcy can potentially shake off unsecured debt while exempting the primary residence. Written by Dan Grady. Before you do anything call me at 954 247 1353 or click here

Thursday, April 17, 2014

How Do 'Take Over Payments' Real Estate Contracts Work? 954 247 1353 Sunrise FL Plantation FL Davie FL

Take over payments' refers to a financing strategy where buyers assume loan payments owed on a mortgage note. This strategy has been popular amongst real estate investors for years, but is now becoming a preferred option for buyers who cannot qualify for financing through traditional means. Lenders can prohibit take over payments purchase contracts if the sale violates mortgage terms. Most real estate notes include a 'Due on Sale' clause that grants banks permission to request payment in full when property is sold. Therefore, it is wise to consult with a real estate attorney prior to entering into a purchase contract. The majority of mortgage lenders do not issue demand for payment unless payments become delinquent. However, buyers should be aware that by entering into a take over payments contract they could potentially lose the property if they are unable to qualify for mortgage refinance. When buyers can refinance the loan they normally must provide a down payment and are responsible for closing costs. In most cases, sellers use Subject-To contracts to transfer property rights of real estate secured by mortgage notes. This type of contract does not provide buyers will full ownership rights until the loan is paid in full. Subject-To contracts typically extend for a few years while buyers engage in credit repair or sell the property to pay off the mortgage. Take over payments have become increasingly popular amongst borrowers who can no longer afford to stay in their home and want to prevent foreclosure. When sellers can locate a buyer willing to cure mortgage arrears and assume future payments they can eliminate future financial risk and avoid having the blemish of foreclosure on their credit report. Assuming loan payments on property that is in preforeclosure can be highly risky; especially when mortgagors owe more than the property is worth. The only way to take over payments and avoid risks of receiving a demand payment notice is when loans are categorized as an assumable mortgage. These loans can be taken over with lender approval. Both FHA and VA loans allow buyers to assume payments without meeting lending criteria. However, there is one catch. To take over payments of FHA loans, the note must have originated on or before December 14, 1989, while VA loans must have an origination date of no later than March 1, 1988. Buyers can take over assumable mortgages that do not meet the above criteria. However, lenders might alter loan terms based on the buyer's credit score. Banks may require buyers to provide a down payment or they might increase the interest rate. When buyers take over an assumable mortgage they sometimes require funds to cover the purchase price. For example, if the loan balance is $125,000 and the purchase price is $150,000, buyers will require an additional $25,000. Unless buyers have this amount in personal savings, they will need to apply for a second mortgage to cover the difference. Assumable mortgages are a better option than entering into Subject-To agreements because sellers are released from financial liability should buyers default on the loan. Sellers should ask their lender to provide a written release of liability statement. Both buyers and sellers should engage in due diligence before entering into take over payments agreements. At minimum, sellers should conduct credit and background checks and employment verification. Buyers should conduct a property records search to ensure sellers are authorized to sell the real estate. Buyers should also obtain proof the loan is current and the property has not entered into foreclosure. Always obtain legal counsel or consult with mortgage loan officers to ensure take over payments under assumable mortgages adhere to state laws. Written by Simon Volkov. Sell your home Now Click here!

Tuesday, April 15, 2014

Understand How Owner Financing Works In Order To Sell Your House Quickly 954 247 1353 Plantation FL Sunrise FL Davie FL

Wondering how does owner financing work and how to use owner financing to sell your house quickly? The following insider information will reveal secrets bankers don't want you to know. Out of the " 8 different types of seller financing strategies " that exist, the wrap around mortgage was one of more powerful ones used to sell houses in the 1980's, when there was a deep recession like now and when the interest rates were in high 18's and low 20's. Real estate agents and brokers were faced with a major problem in the 80's selling their clients houses at those street loan sharks interest rates. Owner financing became a solution for home owners who could not sell their homes due to the recession. The wrap around, was also used for those facing foreclosure and thinking about doing a short sale on their house. Owner Financing It simply involves the prospective person purchasing the house, where he or she gets a complete home mortgage from the home owner selling the home and not the local bank. The home owner selling the property takes the position of the lender ( the bank ) and then the buyer will now pay the home seller every month for the life of the loan. When Does One Use This Option Home Seller - When the home owner has run into problems selling the house and just can not wait any longer to sell the house. Buyer - If for some reason the prospective buyer cannot get financing through traditional means like going to their local Chase or Citibank branch for a home loan Lender Loan Restrictions - The bank will not finance a particular type of property for what ever reason. How does Owner Financing Work? It is quite simple - The home owner ( you ) eliminates the bank from providing a home loan to your prospective buyer. You as the home seller take some form of advanced payment from the buyer to secure the property & provide the home loan instead of the bank. The terms of this loan is all in a contract drawn by your attorney, it is a written promise to pay which requires the buyer to make monthly payments to you as the home seller for the agreed time in the contract. The house buyer with a trust note in his possession, has a binding contract as the buyer of this property legally, all without any red tape from a local bank. An additional legal piece of document lays out the right to take the property back if the buyer does not make his payments as agreed upon. What Types of Property Are Good For Seller Financing? If the home owner is in some form of distressed situation and need to sell the house quick, or the property is in pretty poor shape, or the just sitting there and not rented out, then he or she may consider seller financing. Things to be considered is when the property has a some form of tax lien or mortgage attached to it. This option is most suitable when the house is free and clear of any existing loans on the property. 8 Ways You Can Benefit From Owner Financing * Speedier sale. * No waiting for bank approvals. * No bank or origination fees to the buyer. * The process and document preparation is much lighter. * The down payment can be made smaller to sell quicker & appraisal avoided. * Flexible terms can be arranged for you and the buyer unlike bankers. * You may be able to get closer to the price you are looking for since you are financing and the buyer is having trouble getting financing from traditional lenders. * You may make future income from the interest rate you set to the buyer. Double Closing Most home owners object to this type of financing arrangement, primarily due to not receiving full payment of the sales price when their house is sold. The Solution use what is called a " Double Closing ". You the home seller, just sells your note to a note buyer immediately right after the right after the closing. Everything remains the same when the note buyer purchases the note, terms * interest stay the same and this in no way affects the house buyer. Issues with Owner Financing The biggest issue with this option is, it seems to difficult to do, but with the help from an attorney it can actually be a simple process. Another issue is, to being sure about the buyer and how responsible they will be. Different creative solutions can be applied like getting 2 - 3 advanced monthly payments. If the buyer defaults the home seller feels like they are not equipped to handle this, but with the right attorney and help you the seller can repossess the property. Owner financing - if used properly is a very powerful creative financing tool to get your house sold right away, if it sounds like a possible solution that you would consider, seek out professionals that use these themselves and are familiar with them to explain to you how does owner financing work. Written by Edwin Rosario. Sell me your house with owner financing. i can help! Call 954 247 1353 Click right here!

Monday, April 14, 2014

The Fastest Strategy to Sell Any House - Owner Financing 954 247 1353 Davie FL Weston FL Southwest Ranches FL

Need to sell your house in South Florida? call 954 247 1353 visit http://SellFloridaHouseNow.com As a seller you probably expected to discover a good consumer paying with money. Due to the subprime meltdown, it's now much tougher to get a loan approved than it was merely a year or 2 ago. Banks have got much tougher with their requirements. Often it works out that way and infrequently it does not. certain owners could be missing a favorable opportunity. A buyer might be prepared to pay a higher price for your home at a higher rate if you are ready to help him or her by owner financing the home. Herein lies the chance; there is the possibility they may default on the loan. Seller with a large equity can get a higher interest rate by offering to give a mortgage to the buyer than the interest the owner would receive if the money were placed in a bank account. This technique of investing their money appeals to a couple of the older seller because they may be thinking of their retirement days not miles ahead. Sadly, there are those who are vulnerable when the purchaser defaults on his payments. When offering owner financing to a buyer, the seller will give the purchaser either a first mortgage or a 2nd mortgage. The second mortgage being a larger risk it includes a higher rate of interest than the first mortgage. The problems confronting the seller would be to qualify the purchaser to ensure their earnings is huge enough to make the payments. Obtaining the document to form the mortgage for the buyer, you are going to want everything documented; as proof of the exchange details should you ever need them. Protecting you from the loss of all or part of the equity invested to make this financing, in the event consumer defaults on the loan. Qualifying the buyer might be easier than you might think. The buyer can simply get his credit ratings from the credit reporting agencies and show them to you. Drawing up the documents needed to create this mortgage can be acheived with the assistance of some online services. It is recommended you have a lawyer look over the document to ensure you are shielded and everything is legal and above board. It is common knowledge some customers will default on their payments. Foreclosure would be the new plausible step, but it can be difficult and a pricey procedure. This is one of the reason owners keep away from financing their own homes. Knowing the risks involved with owner financing it's still a profitable way to invest the equity of your home. You can always sell the real estate note you create through your real estate attorney to a backer for a lump sum of money rather than receiving monthly payments over time. Written by Bob Fundman. Bob Fundman is a journalist in the loan industry.

Saturday, April 12, 2014

Land Buying Tips by Jason Mosko 954 247 1353 SellFloridaHouseNow.com Sunrise FL Plantation FL Davie FL

Buying land can be a very confusing ordeal. There are many reasons to buy land. Some people buy for investment, some buy to live on the property. No matter why you buy land, we all want to make money with the property in the long run. Here are a list of tips and tricks to help you in the process. These tips are from Max Mosko. Max Mosko has been buying and selling land for over 40 years. 1. Make sure you have electricity in front of the property, or at a minimum 1/2 mile from the property. Its could cost over $2000/pole to bring power to your site. 2. In most cases, you can only build one home per lot. Dont think that if you buy a 100 acre parcel, you can build a whole community. Check with your local zoning office on land use. 3. Try to avoid buying swamp land. Also try to avoid buying low land. 4. One acre home sites can cost 90k. 100 acre home sites could cost 100k. Your better of buying the larger parcel. One day it may be of great value. 5. If you need to get zoning help, see a local in town lawyer. They have have extra pull in their township. 6. If you live in a cold climate, don't expect to sell you raw land in the harsh winter, when its covered with snow. 7. Don't invest more than 2-3 hours away from where you live. It make every step of the buying/selling process more difficult. 8. Make sure you can build at least one home on your property, otherwise it may not be of any value. If your looking to purchase land, feel free to contact us.

Friday, April 11, 2014

Trouble Selling Your House? Consider Making it One of Many Owner Finance Homes 954 247 1353 Hollywood FL Miramar FL Pembroke Pines FL

With a tight credit market and even tighter pockets for most potential home buyers, selling your home can be a trying task. If your home has been on the market for far too long, you should consider offering to extend a loan of sorts to your buyer, making your home one of the many owner finance homes. The drop in the housing market and the subsequent bank crisis has made home loans harder to obtain for many would-be buyers, so owner finance homes can speed your sale process. Advantages: This may help you get your full asking price for a home, as you can work with your buyer who is unable to obtain a loan elsewhere. Owner finance homes often get more inquiries and a faster sale than other homes. Receive equity plus interest. Capital gains taxes can also be deferred. Faster closing than traditional home loan sales. Property acts as collateral if payments cease, so you will not lose your investment if the buyer does not keep submitting regular payments. Disadvantages: No money upfront – aside from negotiating for a down payment on the home, there is little money initially when using owner financing. Unlike a traditional loan where you get the full amount, you will have to wait until the loan repayment period is over, which will vary depending on the price of the house and how much your buyer can pay per month. You become a bill collector if your buyer stops sending you payments or continually makes late payments. This is especially problematic if you are depending on that money to pay off the mortgage you have on the house or other bills. If the buyer does stop payment, you will have to foreclose on the property. There is no bailout for individuals, so if the property is worth less than what you paid for it, you may run into problems. The contract terms are set in stone but if your buyer doesn’t read the entire document, he may be surprised and angry if there are details in the fine print that affect him. To make the best of owner finance homes, have a real estate attorney draw up the agreement and use an escrow company to correctly divide the money. Have both parties read the entire contract, ask any questions you have about the terms of the contract and then give yourself at least 24 hours to think about the deal. Visit http://SellFloridaHouseNow.com Call 954 247 1353 to sell your house now or email regold@rocketmail.com Article written by Allison Edrington

Thursday, April 10, 2014

8 Types of Seller Financing 954 247 1353 SellFloridaHouseNow.com Southwest Ranches FL Davie FL Weston FL

Written by Khayyam Jones. Seller financing is extremely powerful because the buyer and the seller have control over all the terms of the transaction. That means that there are virtually unlimited applications for seller financing. However, all of the options for seller financing fall into just a 2 major categories: financing after the closing and financing before the closing. The following 4 types of financing occur after the closing: 1. Free and Clear Financing - When a seller owns a property "free and clear" there are no liens or encumbrances on the property. In this situation the seller and the buyer are free to make any terms they want to in order to make a deal successful. 2. Equity Only Financing - This type of financing means that the seller only finances their equity in a property. The buyer is responsible for getting new financing to pay-off all of the seller's encumbrances and liens. The seller is then free to finance the equity in the property. 3.Wrap Financing - This is also known as "subject to" or "blanket" financing. In this situation the buyer takes the property "subject to" the existing mortgage. The buyer is responsible for making mortgage payments to the seller and the seller is responsible for making mortgage payments to the original lender. 4.Combo Seller Financing - This type of financing is a combination of the financing options #2 & #3. The buyer can "wrap" the underlying mortgage and finance the seller's equity. The next 4 types of seller financing occur before the closing: 5.Purchase Option - Any time the buyer gives money to the seller (option payment) for the right to purchase the property at a given price (option price) and within a given time frame (option period) the buyer has a "purchase option". This is a form of seller financing because the seller still is responsible for the property and any payments until the buyer purchases the property (exercises their option to purchase) or the option expires. 6.Extended Closing - An extended closing is similar to a purchase option except that the extended closing is done with a Real Estate Purchase Contract (REPC). In the extended close the closing deadline is extended or put into the future significantly further than a typical real estate purchase. 7.Open-ended Closing -The open-ended close is also done with the REPC except the closing deadline is tied to a future event (such as the completion of an addition or remodel). The closing only occurs after the future event has occurred or has been completed. 8.Seller Partnerships - In this situation the seller may sell the property or may retain ownership. In either case, the seller contributes the property (and possibly some capital) as their contribution. The buyer would contribute the work and knowledge (and possibly some capital) to create or enhance the property value. The property would then be refinanced by the buyer or sold to a third party. The seller would get his equity and capital contribution plus an agreed partnership split of the additional profits on the transaction. The great thing about these 8 types of seller financing is that every option can be used to benefit both the buyer and the seller

Tuesday, April 8, 2014

Divorce and the Sale of the Marital Home Call 954 247 1353 Pompano Beach FL Coral Springs FL Coconut Creek FL

There is one asset that is common in thousands of divorces: the marital home. The marital home is frequently the largest asset a couple owns. Many times, the marital home is the one and only asset a couple owns. And as the major or sole marital asset, special attention should be devoted to this issue during a divorce. In divorce, one of the major challenges is to fairly divide assets acquired during the marriage. Real estate presents a unique challenge. Because of recent changes in the market, real estate has dramatically increased in value. This rapid increase created large amounts of equity for many couples. Large amounts of equity translate into large amounts of money. More important – large amounts of money make it possible for divorcing spouses to create a new life. Potential uses for the money include: the purchase of a new home, moving out of the area, going back to school, or to repurchase lost possessions. Money makes it possible to become “normal” again. That is why the division of the marital home is such a critical challenge that both spouses must solve. Most divorce decrees require the sale of the marital home, with the proceeds divided equally by the divorcing couple. This scenario is the simplest solution. A properly written divorce agreement for the sale of a home must address the following issues: A deadline date for placing the home on the market, who will occupy the house until sale, which spouse will pay expenses of the home until sale, how the house will be listed for sale, and how the sale price will be selected. Unless the divorce decree addresses all issues there is potential for argument and lost money long after the divorce is finalized. Even though each divorce is unique, there are some common things you can do to make the sale of the marital home a more predictable and smooth experience. If there is more than five thousand dollars in equity, always invest in a licensed appraisal report. A licensed appraisal report is done by a professional appraiser – not a real estate agent. Expect to pay between $300 and $700 for the report. If there are simple, cosmetic things you can do to boost the value of the house – do it now. Everything you do to increase the value of the home will benefit you financially and increase the chance of a smooth divorce. Always list your home with a licensed real estate agent. Pick one that both you and your spouse can trust. Now is not the time to do a “for sale by owner” or use a “friend of a friend.” An independent, licensed real estate professional that arranges a sale based on the report of a licensed appraiser is a transaction that is difficult to attack. And when things go bad in a divorce people frequently look for something to attack. If you are faced with divorce and can agree to sell the marital home, both spouses have the opportunity to walk away with cash. And cash makes it possible to start new lives. Based on observation of many divorces, the chance of walking away without a bitter fight gets better when each spouse has the opportunity to begin a new life. Finally, if selling is a possibility, do it the smart way. Sell at the proper market price and do it in a way that does not lead to argument. You will have less stress and a better “second life.”

Monday, April 7, 2014

Should You List Property as For Sale by Owner Real Estate? 9542471353 SellFloridaHouseNow.com Sunrise FL Plantation FL Davie FL

Listing property as for sale by owner real estate can be both rewarding and risky. It's not easy to sell a house in today's market. Inexperienced sellers could potentially make costly mistakes if they don't take time to become educated about the process. On the flip side, for sale by owner real estate can help buyers avoid paying realtor commissions and put extra cash in their pocket. Engaging in FSBO transactions is not for the faint of heart and requires good negotiating skills and understanding of realty laws. The best approach is to consult with a real estate attorney. Lawyers can execute purchase agreements and record property transfers through the court. At the very least, it's recommended to have an attorney review contracts to make certain they are legally binding. The Internet is a good source for learning about the pros and cons of selling a home on your own. Property owners can download purchase contracts, order FSBO education kits, locate law firms, and join networking groups to share tips or connect with potential buyers. Numerous websites exist where sellers can list FSBO properties for a nominal fee. It is important to figure out the property's value before placing a for sale sign in front of the house. Values are determined based on location, condition, amenities, and sale price of comparable homes in the area. It is best to hire a professional appraiser to obtain an accurate assessment. A property inspection is needed to locate potential problems and provide time to make needed repairs. Property inspections are required before closing can occur, so it is best to hire a home inspector before listing the FSBO realty. Take time to become familiar with real estate contracts. Learn how to negotiate terms of the sale and understand legalese of closing documents. It is best to retain the services of a lawyer to review contracts and ensure they are legally binding and properly executed. At present, real estate is a buyer's market. It is important to prepare the home and make it better than other homes for sale in the area. This might include deep cleaning, repairing or replacing damaged items, or painting the interior and exterior of the house. Remember the exterior is the first thing buyers see, so take time to make the outside shine. One tip that might expedite the sale of your house is to have a yard sale. In addition to selling unnecessary items, you can let visitors know the home is for sale. Get creative and make informative flyers to hand out to visitors. Include photos and details, along with the asking price and contact information. Talk to everyone who arrives at the yard sale and ask them to let others know about the property sale. Think about offering a finder's fee and get people excited about helping you find a buyer. Be prepared to show the house to interested parties. Just be certain to have someone around to cover for the yard sale if someone wants to look at the house. One couple used this strategy and sold their home on the spot during their yard sale. If it can happen to them, it can happen to you. Keep in mind it is not necessary to do everything alone. Hire professionals to perform various tasks. If you do not understand contracts, hire a real estate attorney. If you don't have time to paint, hire a painting company. If you dislike cleaning, hire a cleaning crew. On one hand, selling property without a realtor can be an overwhelming task. On the other, for sale by owner real estate places everything in your hands. If you invest time in becoming educated about the FSBO process before listing your property, you'll save a lot of time, money, and stress. Article was written by Simon Volkov. Just Sell your home to me Donny. Call 954 247 1353 or visit http://SellFloridaHouseNow.com

Friday, April 4, 2014

Have You Ever Considered Selling Your Home With Owner Financing or Rent To Owning Your Home? Plantation FL Sunrise FL Davie FL

If you want to sell me your home yesterday either call 954 247 1353 or visit SellFloridaHouseNow.com. Many people think the only way for a home buyer to buy a home is for the buyer to get approved for a mortgage, then take out a loan and make payments to a bank for the next 30 years. This is definitely not the only option. Selling a home with seller financing, also known as rent to owning a home is a great strategy for selling a home. If you have fallen for the misconception that a home seller can not hold the financing to a property you are dead wrong, sorry. Sellers can certainly hold the financing on the property. The legalities of how to arrange the agreement do differ from state to state or country to country but it is basically the same. The buyer and seller agree on a purchase price, monthly payment amount and length of term. The agreement is in writing and signed by all involved and may be required to be witnessed by a third party like an attorney or notary. There are some real advantages when a seller can offer a home for sale with seller financing. First they open up their potential customer base to a whole new market. Rather than marketing to people who are currently qualified to get a mortgage, the potential market is now open to people in possible situations that do not allow them to get traditional financing. It isn't that these people are not quality purchasers. They often have short term issues that are preventing them from getting financing. The four most commons reasons people have trouble qualifying for a mortgage are: One: they have short term credit blemishes that could be repaired in a short time frame (normally 12-24 months). Two: They could be self employed. The self employed home buyer normally needs to show at least 2 years worth of tax returns to support their income claim. Three: The applicant could work in a cash business and their income is more difficult to prove. This could be a bartender, waiter or waitress or taxi driver, etc.. All of which most often have the sufficient income to afford a house payment. The forth most common issue for qualifying for a mortgage is the candidate who was recently rehired back into their original industry after a unemployment period that is longer than acceptable to the mortgage industry. With the down turn in the economy in the last few years there are many people that could have been affected. Many people took lower paying jobs that they were over qualified for until they were able to get back to work in their original professional field. The second powerful persuader to sell a home with owner financing is the seller can make more money. There are at least three ways the seller can do this. First the seller can often charge a higher sales price. Home offered for sale with owner financing are often harder to find than homes listed with a realtor with the seller needing to get paid the sales price on the day of settlement. For this opportunity the buyer is more willing to overlook a higher sales price, equating to more profit for the seller. The second way the seller can make more money is in cost saving in selling expenses. Sellers may not need to use a realtor to facilitate the transaction and find the buyer on their own so they would save on the 6-7% commission normally charged by the realtor. There will be specific contracts that should be used to protect the interest of both the buyer and the seller. The transaction should be handled by an attorney or settlement company. The attorney will need to draft specific documents for the situation or if they can find a real estate company that specializes in facilitating these seller financing transactions the legal documents may already be readily available and at a lower cost. The third profit center for the seller is the profit from the monthly payment they collect from the buyer. Just like a traditional mortgage, interest would be charged on the portion of the sales price that is financed. Assuming a $100,000 balance financed at 8% that would be close to $7969 for the seller after the 1st year. For sellers that do not need the proceeds from the sale of their home immediately this can be a profitable opportunity. When people get a lump sum of money the most common areas to put the money is either a checking or savings account at a bank, in a CD or in the stock market. Checking or savings accounts are currently paying.5% which means an extra $500 after one year. CDs are better but locking in a 1 year CD at 1.1% would garner $1100. Putting the money in the stock market actually risks losing money and ending the year with less than you started with. As you can see selling a home with owner financing or rent to own has some real benefits to the seller and to the buyer as well. Written by Chad Eisenhart

Tuesday, April 1, 2014

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Buy Your Next Home: Take Over Payments With Transfer of Deed Ft Lauderdale FL Hollywood FL Pompano Beach FL

If you are tying to purchase a home and take over payments "Subject To", these are the important things that you need to understand.
First, for anyone who does not recognize what a "Subject-To" acquisition is, it is whenever you simply take over payments on an established mortgage with an informal Transfer of Deed. That's it! The home now becomes yours. This really is an educated real estate investors best kept secret. Although, carrying out your first "Subject-To" purchase might be intimidating, it is also a lot of fun! When the real estate instructor stood in front of the class and said, "having a home given to you is very easy" everyone in the class, including myself, figured he was a little crazy.
Well, he was right! Second to paying cash for a home, this is actually the easiest method for buying a home. You simply need to live through the fear of your first one! Once you have performed a few of these, it just becomes second nature.
Things you need to know to take over payments:
First: Seller will in all probability contact you from one of your lead producing efforts. You will pre-qualify them on the phone the best you can so hopefully you won't waste your time and energy travelling to their house. You ought to have a good idea if the home works for you, and therefore the seller should have a sense of what you will propose even before you get off the phone with them. Also, you need to have a "close" estimate of what "they say" is owed on the property. It is best not to discuss that you desire to take over payments over the phone. Wait until you are in the homeowners home for that conversation.
Second: Before you head to the property, you will have to prepare. You will need a stack of comparable sales (comps), so that you can compare the house with others within the neighborhood so that you can formulate the actual market value of the home.
You can receive comps by contacting a nearby Title Company or maybe a Closing Attorney. When I started out, I received comps from the Customer Relations Department at "Stuart Title". Once you know what the residence is worth, then, proceed to the house to meet with the home-owner and to examine the house. In the event the property needs plenty of work, then it might be best for you to pay for an inspection of the residence.
After arriving at the home and getting comfortable with the seller, that is when you would discuss with them about wanting to take over payments and buying Subject-To". If we come to an agreement, then I would sign a Sales Agreement on the spot, along with all the supporting documents. However, many of you will most likely not feel confident enough to accomplish this. Therefore I suggest that you talk with the homeowners and get comfortable together.
A very important factor that you will need to perform is uncover the "EXACT" pay off amount of the loan. AND, you need to determine whether there is a pre-payment penalty attached to the loan. The only way this can be achieved is to have the sellers sign an Authorization To Release Information Form (ATRIF). Then call the lender on the seller's behalf, fax over the (ATRIF) and acquire the EXACT payoff amount.
When you sign the Purchase & Sales Agreement, just put "Approximately $XX, XXX" in the space designated for "Loan balances taken "Subject-To". The homeowner should have an old payment coupon present that will give you an estimated pay off balance. Also list the amount to take over payments.
Third: When you have the house tied up, open Escrow and confirm all the details they have provided you. Loan balances, liens, clear title, any inspections you choose to do, etc. Do your due diligence and ensure that everything is in order.
Fourth: I have the sellers sign all of the "Subject To" supporting paperwork when they fill out and sign the Purchase & Sales Agreement. If you are having the homeowner place their home in TRUST (this is a real estate investor secret), it is the Trustee (not you) who will sign all of the closing documents at the Title Company or closing attorney's office. My recommendation is that you name the Trust the last name of the homeowner. Such as, "The James Family House Trust". The benefits of using the last name of the home owner is simply because it keeps the title in the name of the home owner, giving the perception that they never sold it. This could possibly be essential for the Due on Sale Clause concern.
Fifth: I Highly Advise that you spend the fee and close with a Title Company or Closing Attorney to make sure you obtain a Title Insurance Policy on the property. You will also need to deal with the homeowners insurance policy issue on the home. It is a little confusing, but it can easily be achieved.
The more important issue is to be sure that the mortgage company does not learn about the transfer of deed, which could put into play the due on sale clause; making use of Trusts helps in this matter!
If done right, take over payments, "Subject To" purchase can close within a few days. This can be an easy and quick way to buy a house. Once you secure the payoff amount and the Title Company gives you clear Title, then you can close.
Realizing how to buy a residence in this real estate market suggests acquiring a home way under current market value. It only makes sense to uncover First Time Home Buyer