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

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

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.”

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

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

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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