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Archive for October, 2010

The Key To Selling In A Credit Crunched Market…financing…financing…financing!

You have done all the minor repairs cleaned arranged staged appealed to the senses with inviting smells and lots of light. The location is convenient to everything. You have followed conventional real estate wisdom in repricing the home lower than the competition and have added closing costs paid by the seller. So why won’t your house sell?

Although everything listed above is important to sell a house the problem may not be the house but the financing. In fact because of the big changes in the mortgage industry financing is the number 1 problem in selling. This is especially true if your home is the typical first time homeowner property.

This series of articles is for anyone in real estate and real estate related industries. The homeowner real estate broker or agent mortgage broker closing attorney or any other services or industry directly or indirectly related to the real estate market. What has worked in the past to give you business is not what will provide a winning solution for the present. You must become aware of alternatives in financing and how it works. For example if you are a closing attorney and only know the typical closing transaction using traditional financing it is time to broaden your knowledge and learn other financing options for the transaction.

The banks have made big mistakes lending to applicants who did not actually qualify for the loan. Now those loan programs and many of the banks have disappeared.

Today I will list some methods that can be used to sell your real estate.

Sell by Lease Option Lease Purchase or Rent to Own

Sell with Owner Financing

Sell by “subject to”

Sell by Land Contract or Agreement for Deed

Carry back a second

Rent out the Property

Upon first glance it may seem that these methods will not work for you. It is true…they will not work for everyone. I will be revealing techniques within these methods that can make it work for you!

Listed below are some related articles I have written.

The Smart Investor’s AdvantageOwner Financing

Lease OptionsA Good Investment Option?

How I Get A House Ready For Sale…the Curb Appeal

Don’t miss the upcoming posts on Real Estate Investor Girl. I will be explaining more about the key to selling in this market. Why not Subscribe ? Please leave comments or questions below.

About the writer:nbsp;nbsp;In the year 2000 Kathleen started investing in real estate. She has found there are many ways to invest successfully in real estate. There are many niche areas of investing. In 2007 she started sharing techniques opinions and resources from the perspective of a real estate investor in her blog Real Estate Investor Girl. Find her blog at http://www.realestateinvestorgirl.com She explores topics that are useful to the novice as well as the seasoned pro to real estate investing. Comments are encouraged as she realizes a diversity of opinion broadens thinking. As a member of North Metro Real Estate Investor Association and the National Real Estate Investor Association Kathleen knows that education and networking are two of the most valuable tools to a real estate investor. She brings through her blog a valuable resource of knowledge which is fully explained and easily understood.
She also writes under the pen name Purple Leaf on a variety of topics on the site Helium. These articles can be found at http://www.helium.com/user/show/32788

The First Time Buyer

For years you have been scrimping and saving preparing for that day when you could purchase your first house. Now that day has arrived. However now that it is here it becomes evident that the process of home buying can be a little overwhelming for a first time buyer. So what to do? first of all don’t panic and rush out and put a down payment on the first house you see. This is going to be a big purchase so you will want to plan your steps very carefully.

1. Get your credit sorted out. Having a good handle on your finances will only make this process easier. It’s great that you have a down payment set aside but have you secured financing yet? Having financing arranged before you start looking for a home is one of the best moves you can make. However having financing arranged before you start looking means having the credit to get preapproved for a mortgage.

2. Get preapproved. Being preapproved for a mortgage allows you to shop worry free and it lets you know ahead of time what you can afford. Having your mortgage preapproved will also be an attractive asset to realtors and home owners as it shows them that you are a serious customer.

3. Be Choosy. This will likely be one of the more difficult steps. Buying a home is allot like looking for a rental property but with much more stress and emotion and a much bigger payoff. If you are not sure what you should be looking for in a home consult extensively with your realtor and friends that own homes. Start thinking about what you need in a home. What are your requirements in terms of rooms location amenities and other such aspects? Making a list is the easiest way to keep track of the necessities.

4. Get an Inspection. After finding the home that you can see yourself purchasing have the home inspected. This is a huge step that must be observed. Most people include a subject on the purchase contract that the home must pass an inspection. Never skip this step! There could one of many things wrong with the home you have chosen that the owner may not even know about. Inspections will survey the plumbing electrical systems in the home as well as the roof and the structure itself. Anything that is amiss can be utilized as a bargaining point in the sale of the home or if severe enough; can simply be reason to walk away from that particular home.

5. Close. Assuming that everything has gone according to plan you should now merely be concerned with your possession date. The home passed inspection your offer was accepted and the deal closed. Congratulations! You have bought your first home!

About the writer:  Krista Fracke is a REALTOR specializing in the sale and purchase of Ponte Vedra real estate. An established and knowledgeable professional Krista brings a wealth of knowledge and experience to the table. For assistance in Ponte Vedra or Jacksonville real estate contact Krista or visit www.kristafracke.com.

The 4 Options That Are Available When You Cant Find Your Dream Property

You’ve decided to move. The west coast of Ireland and its magical countryside is your chosen destination. Weekends golfing and sailing are among your aspirations. After hours of scrutiny you and your family realise that hiring a specialist Property Finder such as Emerald Haven will save you both money and time. As with all of our clients you demand and expect something a little bit special and as with all of our projects we will deliver it. Maybe it already exists! A 200 year old farmhouse whilst retaining it’s charming and weather beaten stone exterior is fitted out with the most state of the art technology and interior designed furnishings. We’ve found it you love it we’ve negotiated down the price and our costs are covered twice over. It sounds straight forward and it really is.

Of course your dream home won’t always be waiting to be purchased and the best property finders in Ireland should strive to present you with the closest matches available. This is not an ideal situation for the buyer but it is a common one. When you pay someone to look for your dream home you expect them to find your dream home. However there are solutions out there and in this article we hope to make the decision process that small bit easier if it’s not going your way. So what should you be considering if your dream house is not on the market? Well…………….

1. You can continue looking. Ensure that the Real Estate Broker Buyers Agent or the Property Finder agrees to keep searching until you are either satisfied or instruct them to do otherwise. If you are not in any way constrained by time this may be the most cost efficient approach as that perfect place may come on to the market eventually. Also if time is becoming an issue your service provider should be approaching Irish homeowners with speculative offers!

2. Purchase the property which is the closest match to your requirements and move right in! Of course flexibility is the secret here and if you are willing to compromise on some of your specific requests then your Property Locator should have no problem finding a suitable home within your timeframe.

3. Purchase the property which is the closest match to your requirements and the one that you believe has the potential to be redesigned or renovated to your specifications. This is a great way of putting your own stamp on your home but does not come without some words of caution! Once you are living in your property any major redesign or construction work will cause disruption and probably a great deal of inconvenience. First hand experience in the property industry has taught us this lesson. Such a project requires a determined approach and most importantly a strong relationship with your partner! You will also need a robust project plan a trusty builder and a tight reign on your budget.

4. The final and in our experience the most sanity preserving method is to use a Property Finder with an inhouse Development Consultancy team. This is a revolutionary breed of company and one that will manage everything from the initial search process to a complete redesign project and delivery of your bespoke and tailored property. Although a relatively simple concept this approach is the ideal way of ensuring that if your perfect home isn’t available when you want it then all is not lost. Organisations such as Emerald Haven will take a very specific brief from their clients at the outset of what they expect from their dream property. Your search team will then undertake a comprehensive property search based on your requirements. The priority should always be to find an existing property which meets all of the clients needs. However if this is not possible your property finders Development Consultancy team will be in a position to offer suggestions on how a property can be redesigned to a tailored fit and should provide a detailed plan and budget to achieve this. Once agreed and the property has been purchased the Development Consultancy team will manage every detail for you and your next big decision should be when to plan the house warming party!

About the writer:  Ireland’s leading luxury property finder Brad Wrigley specializes in helping international buyers find their dream home within Ireland. If you want to find out more about how buying a property in Ireland could be perfect for you or your family book your free no obligation property consultation at www.emeraldhaven.com.