FSBO – How to Prepare Your House to Sell

Did you hear that? Prices of houses in Phoenix have been jumping 5% each month for 2005 according to market experts! Some even predict that the price of housing could jump an additional 10% for the upcoming year. The shortage of houses for sales and the still relatively low interest prices are causing the price of homes not just here in Phoenix but nationwide to escalate. What does this mean? If you are thinking about selling your home, there is no better time than the present. Jump on the bandwagon!

Okay, great, you say. I’ll buy a for-sale-by-owner sign, set it out in the front yard, host an open-house this weekend. I should have my house sold by the end of next week! Well, two months later, that for-sale-by-owner sign is still in the front and you don’t have a buyer. Do not think that just because there is a shortage of houses for sale, selling a house is a piece of cake. It may not as easy as you think. Instead of using a Realtor, you are determined to sell the house yourself. That’s fine and it’s possible. People do it all the time; however, what are some tips to help you prepare your house to sell. I have done the research and found four minimal-cost tips in preparing your sell:

1. Clean-up. The first impression is always the lasting one. You want potential buyers to be impressed the moment that they spot your house from the street. Everything from the yard, to the windows, to every room inside should be squeaky clean. And if you have a collection of, well, several collections of…stuff, it’s distracting to the buyer and really takes away the beauty of your home. If you can’t part with those items, pack them away in boxes. A potential buyer won’t be offended by a few packed boxes in the house. They most likely are expecting you to be preparing to move anyway.

2. Deodorize. This goes hand-in-hand with cleaning your house and removing the clutter. If your house smells, it won’t sell. If the house has been vacant for a while, there is nothing more offensive to a potential buyer than the smell of mildew. Please take care of the mildew before showing the house. And you petowners, understand that your precious little pets that you keep indoors are not odor-less. You just have become accustomed to the smell. A potential buyer will pick up the pet order immediately. The same is true for cigarettes.

3. Re-paint the house. Okay, you may have enjoyed a blue kitchen, an orange living room, and a red bathroom. But your potential buyer may not be as cutting-edge. Experts agree that neutral colors are best in showcasing your house. Also take a second look at the decorations on the wall. Remove anything that could be offensive to your potential buyer.

4. Embrace the sun. I don’t particularly care for the Phoenix heat, but I love the sun. It symbolizes laughter, happiness, brightness, things that are upbeat and positive. Open the blinds and curtain in your house and let the sunshine in!

Remember, you want to impress the potential buyer. By following these four simple tips, you can be a step-ahead of the game in reducing the time it takes to sell your house. However, if you don’t have the time it requires to sell the house yourself and don’t want the expensive of hiring a Realtor, please visit my website to read the free report, Sell Your House in Seven (7) Days at [http://www.adpropertyconsultants.com].

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Andrea Groves

Sell My House – How To Sell My Home Fast – FSBO

Here is the truth about selling your home FSBO. Indeed you can save money from other traditional selling solutions but selling your home on you own is not for everyone and should not be used in every situation. Below you will find the basic steps in selling your home by yourself.

Selling You Home Steps: Attend Your Local FSBO Seminar: In every major metro city there are FSBO companies that operate the local FSBO advertising market. These companies can be helpful but in my experiences they give you vague information and charge you for everything. FSBO seminars are not for everyone and will cost a few dollars, usually between $25-$45 per person. It is a 30-60 minute presentation by a FSBO company employee on how to sell your home. Most of the presentation is directed on how their company can help you and the products/services they provide. If you want to save some time and a little money do your own research or finish reading this post and you will know all the steps involved in selling your home on your own.

Determine Market Value: For this step I am a firm believer you should spend a little time or money. It is not as easy as driving through your neighborhood and seeing what your neighbors home is selling for. Determining market value is much more complex and should be done very carefully. Market value of your home should consider all the details about your home including but not limited to; square footage (above grade and below grade square footage have different values), floor plan, upgrades, neighborhood, school districts, curb appeal, surrounding amenities, age of home…and the list goes on. Because this is a very important task I recommend to avenues in determining the market value of you home.

Use a Real Estate Agent: If you have already made up your mind that you will be selling your home FSBO I would recommend not wasting a realtors time and taking advantage of their resources. Realtors work hard and I’m sure you would not like it if someone asked you to work for free. If you are open to the possibility of listing your home with a realtor then I would suggest asking a local realtor for a listing presentation. Real estate agents have some massive advantages over us when determining market value of a home. For one, real estate agents are in the business of selling homes. The do not get a pay check unless their listings sell. They also have access to the Multiple Listing Service (MLS). This is a database that contains all the homes currently on the market and all the recently sold homes. If you are open to the possibility of listing your home with a real estate agent ask one to give you a listing presentation. Their presentation should include the market value of your home. They will also explain their services they offer. If after the listing presentation you like the idea of using them for their services, then great. Hire them and let them take over the work. If after the listing presentation you still want to sell your home FSBO, well now to you know the market value of your home.

Have An Appraisal: I recommend hiring a professional home appraiser and having your home appraised. This appraisal will cost you between $200-400 depending on your location and your home, but it is worth every penny. Besides you will have to pay for an appraisal anyway when you get an offer on you home. Note that you can not always use your initial appraisal as the appraisal needed when you get an offer. It is law that the buyers lender order the appraisal so they know it is legit. If the appraisal company you used is also used by your buyers lender then you can use the same appraisal. An appraisal is a report that will give you your home value and include a minimum of three comparable properties in your area. These comparables are the homes the appraiser used to determine your homes market value. I always get an appraisal for the homes I sell. Then I market my homes a little below appraisal and I have proof of my claim.

Get a Home Inspection: I think it is always best to get a home inspection before actually marketing your home. A home inspection will cost you between $200-450 depending on the size of your home. A licensed home inspector will check everything in your home from the electrical outlets on the walls to the crawlspace. I always get a home inspection before I market my properties so I can see what items I need to fix. Some times there is a not so good surprise like moisture in your attic or things you may have not been consistent on like having your HVAC serviced on a regular basis. Once you get your home inspection back (2-5 days after the home inspector is complete), fix as many of the items as you can. This will ensure a clean home inspection when your buyer has your home inspected.

Set Your Selling Price: Depending on the condition of your home, the current market value, and your selling situation you should now set your selling price. Don’t forget to take into account selling fees; typically 1.5% closing fees, appraisal fees, negotiation room, and realtor fees. Why realtor fees you ask. Because sellers pay realtors and buyer do not you can expect your buyer will most likely be represented by a realtor. Depending on your location in the US typical realtor fees are 3% of selling price.

Stage Your Home: There is an art to staging a home and many people have professional jobs just staging home for sale. If you list your home with a good realtor they will help you with this task. If you are selling you home by yourself then your main task will be to clean, clean, clean. Also use some of the tips from the pros like removing all family photos around the house. This helps potential home buyer see their family living in the home. Don’t forget to move your staging outside the home and into the front and back yard. Put new bark in the flower beds, plant some fresh vibrant colored flowers, trim the bushes growing above the front windows, and basically give your home some great curb appeal.

Market Your Property: Now that your home is in great condition and will impress the masses it is time to spend a little money and get the word out that you are selling your home. In my opinion this is where many FSBO’s hit a brick wall. Marketing is the most important step in selling your home. Some people would say sale price but I am a firm believer that marketing is much more important. If you have a great sale price and no one knows your home is for sale, you will not receive one offer. There are many ways you can market you home for sale. Marketing is much to large of a subject to describe in detail so I will list a few, just remember don’t be stingy when using your money for marketing. I would suggest budgeting a minimum of 2% of your selling price for marketing. Some great avenues to get the word out that your home is for sale; signs, classified adds, bulletin boards, community magazines, Internet, and don’t forget the never absent home flyer.

Show Your Home To Potential Buyers: This is the part many home owner don’t like doing. After you have spend many hours and a great sum of money getting your home ready to sell now you have to show your property to potential home buyers. Receiving phone calls, scheduling viewings, answering the same questions over and over to potential buyers, talking with unmotivated people, and listening to complaints about your home are just a few of the tasks you will be faced with. This is also the test for your previous work. If you set your selling price well and have good marketing your phone will ring.

Receive Offers: If your buyer is represented by a realtor then you will not have to worry much about how the paperwork is completed. The buyers realtor will ask where and when to deliver the offers and you will receive them. You will need to read through the offer and understand the agreement/contract completely before being able to make a decision. If your buyer does not have a realtor you will have to help them put the offer together and walk them through the paperwork. You can also receive offers from local real estate investors like ExpertHomeOffers.com for free.

Counter Offer or Accept: Depending on the offer you received from your potential home buyer you will need to counter offer or accept their offer. In a high buyers market it is typical to receive 3% lower than your asking price. Once an agreed upon price and terms is on paper and signed by both parties it is time for some more work.

More Paperwork: It is federal and State law to have a Seller Disclosure Form and a Lead Base Paint Disclosure form completed for all transactions.

Title & Escrow: Contact your local title and escrow company and get your home scheduled to close. A title company will check for liens on title and organize the closing. Fees for title and escrow vary depending on your home location and your relationship with your title agent.

Fix Buyer Requests: Once your buyer has completed their home inspection you can bet they will have a few items they will ask to be fixed/completed before the close date. Because you previously had a home inspection completed there should be no big surprises on the buyers home inspection report.

Close and Receive Your Check: Well the process is almost over. Many times there are hick-ups with closings. It could be your buyer does not qualify to purchase your home and can not get financing, then you have to start the process all over again. Or you could be one of the lucky ones and have a smooth transaction from start to finish. If the closing does proceed as planned you can expect to receive your proceeds from closing in 1-3 business days after closing. Congratulations! you have just sold your home.

Summary of Cost:

  1. Attend Local FSBO Seminar: $90
  2. Determine Market Value (Appraisal) : $300-$400
  3. Home Inspection : $200-$450
  4. Fixing Inspection Issues : $500-$3000
  5. Staging Home : $150-$1000
  6. Marketing Property : 2% Sale Price
  7. Buyer Discount : 3% of sale price
  8. Buyer Realtor Fee : 3% of sale price
  9. Closing Cost: 1.5% of sale price

Assuming a $100,000 sale price the typical cost to sell a home FSBO would be between $10,650 and $14,440. This is definitely not cheep and this money does not include your time and effort, particularly the money you could have made while at work and not dealing with the sale of your home. As you can see selling your home on your own can be quite a challenge, take valuable time away from other tasks like family or work, and cost a substantial amount of money. For this reason real estate agents and professional home buyers exist. Many people hire a real estate agent to help them through the gigantic task of selling their home. Even with a real estate agent the task of selling your home can be daunting. This is why selling your home to a real estate investor can make a great deal of sense. When you sell your home to a real estate investor you do not have to worry about any of the details and usually don’t have to worry about the condition of your home. You can contact a real estate investor like http://www.ExpertHomeOffers.com and within 48 hours have a signed offer on your home. If you really need to close fast because of your selling situation some real estate investors can pay cash and close on your home within days. No fixing up your home, no dealing with non-motivated buyers, no worrying about your buyer getting financing to close, and the list goes on.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Shaun Greer

Long Beach Homes for Sale – Four Things You Will Love About Long Beach, California

More and more individuals especially those who are planning to find their homes are now starting to recognize the pleasing qualities of Long Beach both as a business and pleasure haven. This interesting city seems to be the perfect example of a place where bikinis and business suits combine harmoniously as elegant buildings where businesses and trade is a common scenario stands mightily next to the Pacific Ocean. This pleasing mystery is one of the driving factors that drive many home seekers to delve into Long Beach homes for sale and Long Beach real estate listings.

Indeed, investing in Long Beach houses for sale is a worthy undertaking – whether you plan to live in it for a long time or rent it out for holiday takers. There is a lot of things to like about owning homes in this pleasant community.

1. Convenient Transportation Means

5 ½ miles of mesmerizing coastline with an airport serving national flights easily accessed by a light rail system known as the Blue Line MetroRail taking commuters to Staples Center and downtown Los Angeles and from there be able to connect to Pasadena and Hollywood are just few out of the many reasons that attracts not only tourists but also aspiring residents to invest in Long Beach real estate.

There are also plenty of buses that can take individuals to any place downtown and nearby places like the Ocean Boulevard wherein neatly painted and prearranged residences and commercial establishments constructed many decades ago are located.

This means that even if you do not have your own car, you can easily report to your work and go back home without much difficulty since transportation methods are offered in variation.

2. Diverse and Pleasing Recreational Attractions

Just like the old adage goes, „All work and no play make Jack a dull boy“. Well, this would not happen if you are living here. It is definitely one of the most wonderful cities in the nation wherein there is more than just beach to enjoy. Going downtown you will gain pleasure from the plenty of trendy shops, dining places and other attractions that offer fun and entertainment for individuals of all ages.

Shoreline Village offers great shops and dining locations wherein you can see the splendid skyline. The 5th largest city of California is also home to many nice parks, and other recreational areas wherein golf, skateboarding and lawn bowling are just few out of the numerous sports activities that you can engage in during your free hours.

3. Charming Beaches

As you browse around Long Beach MLS for sure you would come across with descriptions that define the beaches in this part of California. The beautiful city offers some sandy beaches and equally charming coastline close to the downtown area. There are also choices of beaches near Naples and Long Beach Peninsula wherein you can just sit and frolic on the sand with your kids as a breather from a busy week at work. For those who love quiet times, you can just sit there with your loved one as you watch the skyline and the sun for a romantic but serene quality time.

4. But more than anything else, the booming and continually sprouting economy of the place is the top reason why many are rushing to invest in homes for sale in this part of California.

It is then pretty easy to understand why investing in Long Beach homes for sale can benefit you financially if you choose to rent it out. At the same time, it can also provide you much pleasure in terms of experience if you decide to exclusively use it with your family.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Jonas W Flores

Are You Flipping? Top Three Tips In Buying Homes For Sale

With the economy still on the rocks, it’s hard to trust a real estate investment that quickly. But with home prices at their range today, it pays to consider buying homes for sale for resell. A lot of capitalists have actually found a lot of success in flipping residential units and selling them at a higher cost. But not all homes are worth the capital, so you must make a thorough investigation of what you are getting. When you are flipping, you have to be critical, because time costs money and nothing wastes more than a wrong decision. Here are some of the tips about getting residential units to help you avoid making that crucial mistake.

1. Pick out a house that is in a good neighborhood. It’s a big selling point. When people buy houses, they always look at the location – if it’s safe, if it’s near good schools, and if it’s accessible by public transportation. Safety is a priority over luxury, because luxury can be threatened by the absence of safety. For high end buyers, they like views and landscape. They appreciate nearby recreational areas. These types of homes may be a bit pricier than those in the projects, but if you are looking to resell something at top dollar, you have to make it worthwhile.

2. See to it that you get the seller to fix the place up for you for the price that he or she is asking. It will cost you more to do the work yourself, so have the seller restore corroded pipes, messed up wiring, termite infestation and any other imperfections there might be. When you are checking out homes, inspect every nook and cranny to make sure you don’t get an investment that sucks you dry. Pay special attention to bathrooms and kitchens, because these are the areas you will most likely spend a lot of money enhancing to get new buyers interested. Sellers would gladly accommodate any improvement request if it gives them some assurance that you will consider taking the property from them.

3. When you renovate, fit it to match consumer tastes. It would help if you think about what demographic you’d like to target, and do some research on what they would most likely appreciate. Obviously, newly-weds would have a different checklist when it comes to homes compared to that of a bachelor and old married couples. Think about what activities they would probably have to accommodate in the house, so you know if the home you are planning to renovate fits the idea of a house that the kind of customer you are targeting would purchase. Imagine how things would look if you move a particular door or tear down a wall. A lot of people today are into space and green living, so you might want to brainstorm on how you could incorporate that into the real estate listings you are looking at.

With these three applied, you won’t have to fear the experience of buyer’s remorse. However, you also have to do thorough research about your options and not just stick to one real estate agency to present you with homes for sale. You can also use your own network and you might even be able to bargain down prices.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Cedric P Loiselle

Real Estate Agents – How to Be an Effective Real Estate Agent

There is a lot of work that needs to be put in to gaining your real estate licence, but your job isn’t over once you have passed the tests and started working. The exams simply teach you the basics of running your business, but if you really want to be a success you need to learn about how to become truly effective at your job.

There are a lot of qualities a real estate agent needs to class themselves as effective, so here we will take a look at a few of the most important so you can identify the areas that you need to work on.

Fast Communication

Although it is rarely the case, each one of your clients will want to be treated as though they are the only person you are working with. While this can be a little difficult at times, one of the best ways to do this is to ensure that you maintain quick and effective communication at all times.

Always be sure to answer any questions in language that the client will understand and never be shy about updating them about the status of their transaction, even if very little has happened during a particular week.

Technologically Adept

Like every industry, real estate has to move with the times and you have to demonstrate your understanding of the latest technologies and how you can use them to your advantage to get the best possible deals for your clients.

At the most basic level, this means utilising the web to advertise any properties that you are looking to sell. However, you should also use technology to streamline your processes and gather the information that you need to make the correct decisions regarding each client that you work with.

Know Your Neighbourhood

Having a basic understanding of the national property market is great, but the fact of that matter is that the vast majority of real estate agents work on a local level. This means that you need to have intimate knowledge of the local area so that you can talk about areas of interest and highlight factors that may be important points when the buyer starts to make decisions.

Be aware of the rates that properties sell at in your local area and make sure you base your own prices on that information. Statistics like crime rates, local schools and many others can also help when selling a home.


Real estate is business at its most pure, which means that most are going to find little success without doing a little bit of networking.

Creating and maintaining social relationships with other agents means that you will always have people available if you need a little bit of advice, or you have a client that you are unable to deal with at a particular time. By scratching somebody else’s back, you may find that they return the favour if they are in a similar situation, thus creating a source of leads for you to take advantage of.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Bill Len

How to Buy Notes – Know Your Note Buying Enemies

How to Buy Notes…Know Your Seller

You’ve probably heard of Sun Tzu’s (the famed Chinese warrior) instruction to his soldiers to „know your enemy“ before going into battle.

Well the same is true with note buying.

„Know your seller“ should be the mantra for every note buyer (and broker for that matter!).


Because if you don’t „know“ your seller then you might be entering a negotiation with them without having any idea of their key negotiating points.

A How to Buy Notes Example, My Recent Bid

A bank has a 1st mortgage on a single family home in Salt Lake City that they want to sell.

The borrower hasn’t paid on the note in over 120 days, and the note matured over 2 months ago, so the whole loan could be called due.

The bank hasn’t served the borrower with a foreclosure notice.

And they’ve called you in order to find out if you want to buy their non-performing note and mortgage.

I looked at this loan first from the standpoint of price – how much could I offer for it.

We pulled a title report and a BPO and looked at comps that a local realtor provided to us.

And we put in our bid.

My rep at the bank hinted that she would need approval from a committee of senior staff at the bank.

But she was very cagey about answering any of my questions about where she needed pricing to be in

order to sell, and what the status of the borrower was.

I became a little suspicious and tried probing for more information, but she immediately clammed up and said: „I’m not at liberty to say more about our borrower.“ Something was up in this note buying deal.

It was odd that the bank rep would react that way – in fact it was the first time I’d seen that kind of a response to an individual loan before.

How to Buy Notes – Tips when Talking to the Banker

So I called her back again, and tried a little exploratory language with her.

„Would it be safe to say that the bank has a unique relationship with this borrower?“ I asked her?

„Absolutely,“ she immediately replied.

I was curious – what was going on here in this defaulted mortgage deal?!

So I kept fishing, understanding full well that she couldn’t reveal any information to me, but that she

wasn’t opposed to my pressing for more information as long as she could answer in yes or no terms.

„And there’s a reason why the bank isn’t foreclosing in this case, correct?“ I asked.

„Yes,“ she answered simply.

„And you’re probably not at liberty to tell me, but this sounds like it’s a difficult relationship for the

bank to foreclose on, is that correct?“

„Absolutely,“ she answered again. „I can’t tell you any more than that.“

„One last question,“ I asked. „Is it safe to assume that the bank may be more open to a bid on this loan

that clarifies what exit strategy we’ll be pursuing with the borrower rather than an actual purchase price

for the nonperforming note?“

„Yes,“ she answered briefly again. „That would be correct.“

So what was going on in this note deal?

Well, what I learned in two more phone calls with the woman I was negotiating with at the Bank was that the borrower was extremely well connected in Salt Lake City political circles, and her ex-husband was a close friend of the bank’s President.

Foreclosing on her could create a political ruckus for the bank, it turned out. So the bank was exploring discreet options to rid itself of its non-performing loan – namely via a note sale to a 3rd party investor.

The lesson you should take from this How to Buy Notes example

If you don’t take the time to probe WHY the seller is looking to sell a loan, and the circumstances around

the sale, you may completely miss the seller’s key negotiating points on a transaction.

In this case, it wasn’t price. It was what we were planning on doing to work out the note with the borrower. Price was much less of an issue.

Your How to Buy Notes Action Items From This:

1) Always try to understand WHY a bank wants to sell you a note or a pool of notes.

2) Try to find out what the key negotiating points are for the bank for selling you this defaulted

mortgage. Usually it’s one or more of the following:

a. Price

b. Speed with which you can close

c. Your ability to close (in other words, the bank cares more about whether you can close rather than price they Buyer is offering for the discounted note)

d. Your note buying exit strategies (in other words, the bank may determine whether to accept a bid or not based on what kind of buyer you are – are you a foreclosure operation with no attempt an modifications, for example?)

So keep all this in mind when you’re next talking to a bank to buy notes.

It’ll make you that much better a note buying warrior!

Talk soon,


Immobilienmakler Heidelberg

Makler Heidelberg

Source by Dean Engle

Using Faux Painting in Home Staging Your Home

I have been hired over and over to faux paint the walls in million dollar homes to look like the ones they see in designer magazines. The number one requested faux finish is the „Old World“ look or Parchment.

If I say I have faux painted nearly 30 walls by now with the same color faux finish, I would not be exaggerating. So why not use a little faux painting yourself to help sell your home. Let’s face it, if your house looks like one of those expensive model homes in lucrative developments, you will sell it in no time. However, if your potential buyers see your home like some mediocre apartment with plain white or beige walls, they will most likely keep looking or offer you less than what your house is worth. Remember that first impressions can literally make your sale sink or swim.

You can literally transform your home to look like a million dollars with a little decorative adjustments. Faux painting is the fastest growing form of decorative painting. Just take a peek at some high end decorative magazines and there are faux painting articles and tips all over the place. There are many types of faux finishes these days.

Get ideas by viewing pictures of various faux painting techniques in magazines or websites. Some are more difficult to achieve than others, especially textured finishes. However, even applying a simple color wash on the walls can make a huge difference. Faux Painting bricks can really add dimension and interest to your home, too. You can even paint a faux marblelook on your counter tops to look like real marble and your cabinets to look like real wood. Save tens of thousands of dollars with this beautiful form of art instead of installing expensive slabs of marble and putting in all new cabinets.

You can learn how to faux finish, too.

Recently I received some pictures from first time DIYers in faux painting. What a difference! They did a great job and none of them had ever faux painted before. Why not give it a try? You never know, you might just be knocking on the door to a new career in faux finishing. That’s how I got started. I began by practicing on my own walls in my home and in my family’s, too. Then I began to get requests to do friend’s homes and word got around. Most of my clients come from recommendations from others. So begin now to add value to your home by doing the same thing. Do a Google search for „faux painting kit “ or faux painting tools to find a variety of sites that include a DVD that teaches various techniques along with their tools. It’s the best for your money.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Sandra Silva

For Sale By Owner Or A Real Estate Agent – What Is The Best Way To Sell?

If you want to sell a property, you can choose to sell the home yourself or you can choose to sell your property through a real estate agent. A professional real estate agent can attract buyers, market a property, and can get you a great price on your home. On the other hand, an agent takes real estate commissions that can average 5-8% of the selling price. By using a real estate agent, you are also effectively giving another person control of the selling process. If you are having a hard time making your decision, ask yourself a few questions:

1) What is my time commitment? If you are in a hurry to sell your home or don’t have a lot of time, you may want to let a real estate agent handle the many tasks associated with selling a property. An agent will generally screen buyers, market your house, show the property, do all the paperwork, and negotiate on your behalf. If you don’t know how to do all this, you will have to factor in learning time, as well.

2) What is my knowledge of real estate? Real estate agents rely on an agent network and previous experience to sell a property. If you do not have knowledge of real estate but want to sell your home, you will want to research the market before you place your property up for sale.

3) Am I qualified to screen buyers and negotiate contracts? If you want to go the „for sale by owner“ (FSBO) route, you will need to hire professionals to run background checks and research sellers. In general, you will want to hire someone who can ensure that buyers qualify for financing and you will want to hire a real estate attorney to negotiate and draw up contracts. However, you will still have to rely on your own instincts about which offers and which buyers are a good fit for you.

4) Do I need to stay in control of the buying process? Many property owners choose to sell their home as a FSBO property because they want full control of the selling process. As the seller, you can choose the price, advertising strategy, open houses and much more. If you sell your home yourself you can choose to see buyers by appointment and manage every aspect of the sale. A real estate agent may have their own ideas about the best way to sell a home. Also, consider that you know more about your property than an agent. If your home has special qualities that a real estate agent does not appreciate, you may be able to offer more information and help to potential buyers.

5) What is the market like? If it is a seller’s market, you may not have any trouble finding buyers and good offers for your home. In fact, you may have potential buyers lined up before you even put your property up for sale. If your home is in a very desirable location or is highly desirable for some other reason, you may face a buyer’s market, no matter what is happening with real estate. If, on the other hand, your area’s real estate market is a buyer’s market or if your home is undesirable to potential buyers for any reason, you may have a harder time selling it yourself.

6) Could my emotions get in the way? Selling real estate is all about emotions. You must engage with buyers and be pleasant in negotiations. If you want to sell your home, you can’t be too attached to the property or a particular price.

7) Would a hybrid route make sense? While most property sellers think that they have to choose between a real estate agent and a FSBO strategy, this is not the case. You can offer your home for sale yourself but hire professionals such as discount brokers, „paid-for-services“ agents or settlement agents to help you. You retain control of the selling process but pay a commission to these agents to help you find buyers.

Selling your home can be nerve-wracking. Deciding whether to do it yourself or whether to hire a real estate agent is a big step. Think carefully and answer all the above questions before you decide. The right selling strategy can save you a lot of hassle, so choose wisely.

This article is free for reproduction provided that the author biography, complete with links, is included along with this disclaimer.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Eric Bramlett

How to Find Foreclosed Home Bargains

If you are not in the real estate business, you will find dozens of foreclosed property Web sites to search. Even forsalebyowner.com lists foreclosures now. Wow! Is the Internet the ultimate source of information, or what?

What! Foreclosed properties are truly the ultimate example of how people’s perceptions of the Internet lure them into a false sense of empowerment when searching for a home or investment property. There are several „realities“ that make shopping for that ultimate „steal“ without agency representation a pointless boondoggle. Here’s the reality check for foreclosures:

  1. Foreclosed homes are all listed by real estate agents-all of them!
    1. Lenders do not FSBO. They realize that the marketing power of agency representation gives them the edge in selling their inventory of foreclosed properties.
    2. Agents love it when unrepresented buyers contact them about their foreclosure listings.
      1. They only have to answer questions that the buyer is informed enough to ask,
      2. and do not have to inform them about important considerations when buying a foreclosed property.
  2. Foreclosed homes are not the only „bargains“ available, and the others are listed by agents as well:
    1. Short sales are often better bargains, and a lot less stressful to buy.
      1. They are better bargains, because they are discounted as much as foreclosed properties, and the owner must provide a Seller’s Disclosure of Property Condition-and the property is almost always in better condition that a foreclosure.
      2. They are less stressful transactions, because new regulation requires that the lender respond to a buyer’s offer within 10 days in most instances.
    2. The market is so distressed, and has been distressed long enough that many sellers, especially those in the high-end and luxury home market, are letting their homes go for foreclosure level prices-and paying significant portions of buyer closing costs!
    3. The level to which home prices have fallen and buyer incentives have become fixtures in the negotiations has all but made the price of foreclosed homes uncompetitive.

All the old realities about buying a home still apply. Buyers benefit most by first finding a good agent to represent them. Unless a buyer searches only for FSBO properties, an agent will be involved in the transaction, and only agents who have entered into an agency representation agreement with a buyer will be representing the buyer. The answer to the question of how to find foreclosed home bargains is in three parts. Find a good buyer’s agent, let the agent do the heavy lifting, and look for the bargain, whether a foreclosure or not.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Jim L Johnson

Reasons Why Buying a Foreclosure Is a Good Investment

Foreclosures are the perfect investment choice for investors because they are sold at discounted prices. You are getting a property with built-in equity. Foreclosures can be purchased at foreclosure auctions or by purchasing REO’s (bank-owned real estate). Short sales are preforeclosures and have not gone through the foreclosure process. They are still owned by their current owners who are in default or about to default. The seller must obtain approval from his or her lender to sell the home for less than he or she owes on the mortgage. Short sales are also good investments because they are sold at discounted prices. However, there is no guarantee that your offer will be accepted by the seller’s lender, and the closing date cannot be determined until the seller’s lender approves the sale. If you don’t have time to wait, foreclosure auction properties and REO’s are better choices.

Buying at Foreclosure Auctions

Foreclosure auctions are open to the general public. The highest bidder is awarded the property for cash and given a deed that must be recorded with the county recorder’s office. Each state conducts its foreclosure sales differently. In some states, foreclosures are conducted by the Sheriff at the county courthouse. Other sales are conducted by private trustee sales or auction companies at the property. You can buy foreclosures at online auctions, too. Some states allow the former owner to redeem the property after the sale pursuant to statutory redemption laws. You should always check the foreclosure laws of the state in which you are buying property. To find out about public foreclosure auctions, you can check the local newspaper. Also notices are posted at the private and at the county courthouse. Information is also available from many sources online.

Due Diligence

Before you decide to bid at a foreclosure auction, check the recent comparable sold properties in the area in which the home is located to make sure you are not overpaying for the property. You will want to conduct a title search to find out if there are any liens on the property. Title insurance is not available on auction properties. When you buy a foreclosure auction property, you are responsible for paying off liens and evicting former owners or tenants who may still be living at the property. Federal foreclosure laws protect tenants from foreclosure eviction. A tenant who has a lease may remain on the property through the end of the lease term and for an additional 90 days after they receive a notice of eviction. Tenants without leases may only remain 90 days after receiving an eviction notice. If you live in the area, you should drive by the property to see if it is vacant.

Also, be sure to conduct an inspection on the property the day assigned to inspections. The majority of foreclosure properties are not in good condition so you must leave room in your budget for repairs. For those of you who are handy, you can save money by doing some of the work yourself. If you are the successful bidder, you will be given a deed that should be recorded with the county recorder’s office where the property is located.


REO’s are foreclosure properties that did not sell at auctions that the lenders bought back and listed with local Realtors® for sale at discounted prices. Since REO’s offer less risk, REO’s are very popular with first-time home buyers and new investors. They are also sold at or below market values. You can purchase title insurance, and you don’t have to worry about liens. REO’s are vacant so there is no issue of eviction of former owners or tenants. The best way to find REO’s is to work with a local Realtor® or search online at websites like Foreclosure.com. REO’s are advertised in the MLS, and you can also find them on the Internet and advertised in local newspapers. You make an offer the same as you would on a resale property, but it may take up to a week or two to get a response from the lender. You don’t need cash to purchase a REO, but cash is preferred by banks because they know you will be able to close quickly.

Both foreclosure auction properties and REO’s offer investors/buyers the opportunity to buy low, rehab and either sell higher or hold the property and lease it out until the market rebounds. Investors should take advantage of purchasing a foreclosure bargain property while opportunities are still available.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Karim El Sheikh

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.