How to Sell Your House Fast and Raise Cash

You may be faced with the case where you have to sell your home hastily. The situation may be due to bankruptcy or an awaiting foreclosure. So, how do you make sure that you get the best deal and the top price at such times? Haste does make waste, but it need not necessarily be so under such circumstances with a little prudence and care. You can consider the following points.

BE PREPARED: You must be mentally prepared to sell your property. This will not be basic especially if you have been living in it for number of years. But it is a very fundamental step if you want to get the best advantage out of your sale.

INSPECTION TIME: Get the home inspected by a professional as soon as possible, so that any major defects can be discovered, before they cause any problems with possible Buyers. This will help to avoid last minute glitches in the deal.

POLISH UP: Look at your house from an objective standpoint and remove any flaws as soon as possible. Survey other people's opinions on the matter if possible. Everyone must be consulted. By getting an open view of the flaws, you will be better prepared while deciding on the sale price of the home.

SPRUCE UP: A clean house will help you sell it even better. Bringing in a professional company to clean the house will be a very effective step in clinching the sale early. Do declutter the property, before showing it to potential Customers. The less cluttered your home appears, the bigger it will appear. Do clean out and organize your closets, especially as closets can be a big seller. The larger your closets appear, the better your chances of selling the house will be. Do give the property a fresh coat of paint. A light decor will be more appealing to the buyer, as it will help them see their own belongings in your home. And this will help you to sell the home more quickly.

MAKE YOURSELF INCONSPICUOUS: Depersonalise your property as soon as possible, before showing it to potential Customers. Your aim is to get the Customers to feel themselves in the property. If it is full of your personal articles and family pictures, it is not going to create much of an impact on the would-be buyer. Consumers must be able to see themselves in the home, which is nearly impossible if everywhere they turn they stare at you! If you have a lot of pictures in your home, you may want to store some of them. The fewer pictures of you and your family, the quicker the sale.

PRICE IT RIGHT: The price is the most deciding factor while selling a property quickly. To sell your home fast you have to find a price that is attractive to Shoppers. If you price it wrong, it is not going to sell at all. You can absolutely avail the services of a home agent who will help you arrange the right price for your home. Remember, that as the home owner, you will not be able to fix the correct price from an objective standpoint, Do take region trends into account and if you have employed a house agent, follow his advice and set the right price. The best way to find out the region trend is to look for comparable houses in your neighbourhood that sold fast. Find out how much they sold for and compare your price to the prices the other houses went for. If the price you have fixed is above those prices, you need to do some serious rethinking

SET LIMITS: You must have a fixed program in mind on your sales plan for the property. After fixing the sale price, you must set up your limits of flexibility. Define your initial asking price. Decide the time you will need before making a reduction? Set up the amount of cut you will accept in the price. Having a plan in place will help you react quickly and help to move the sale of your house just as fast.

By following these points you are surely on the right path to selling your property quickly and getting the right price for it. So you need not fear that disclosure or bankruptcy, as you have the best price for your home.


Condominiums – Should You Consider Purchasing One

Condominiums tend fall into the love them or hate them position for buyers. Here’s primer on condominiums.


Condominiums are all about communal living, which can be good or bad depending upon your personal views. This type of communal living doesn’t refer to the failed experiments of the sixties wherein hippies packed into a structure and shared everything. Instead, the modern condominium community is all about sharing common spaces as well as rules, rules and more rules.

Condominiums come in all shapes and forms. Condos can be found in a single high rise building in a downtown area or in an apartment complex type of layout in a planned community. The structure isn’t the determining point. Instead, the issue is how the properties are owned.

Unlike a stand alone home, the property lines on a condominium are the walls of the structure. Essentially, you own everything inside the condominium as your individual property. Everything outside the condominium is owned jointly with the people who own the other units. These areas are known as common areas and are subject to group rule.

Every condominium has a homeowners association in one form or another. The association has rules set out by the original developer regarding landscaping and so on. Members of the community are then elected to the board of the association, whereupon the immediately become a focal point of aggravation from individual owners and often wonder why they took the thankless job.

The problem with the association and condos in general is the issue of uniformity. If you desire to change the exterior of your condominium in some way, you must comply with the rules of the association. This means you cannot paint your property a different color, do landscaping and so on. For some people, this isn’t a problem, but others are frustrated they can’t express themselves.

When deciding whether a condominium is a good option for your next purchase, you need to carefully weigh the restrictions of a particular association. If you consider yourself an individual and want to show it, a condominium is probably a very poor choice for you.


Computer Program Enables Investors to Analyze Property

The flourishing real estate market has resulted in a significant increase in first-time real estate investors. With limited experience in real estate, it can be a risky move to buy property without knowing for certain what the return on the initial investment would be.

Thousands of investors have been using the Real Estate Acquisition Program, also called REAP, to assess the risks in their investments.

Each candidate property can be entered in less than five minutes by inputting the purchase, loan and rental specifics. The inclusion of depreciation and taxes will show the huge effect on cash flow - particularly post-tax profits where investor insight becomes very powerful. Additionally, the appreciation variables, capital growth and inflation allow the user to see a long-term economic picture.

The software then evaluates the property economics, cash flow potential, debt to equity and pre/post-tax implications. The investment viability is revealed in a series of one-page reports.

Created by Dolf de Roos, a real estate investor with 30 years of property-buying decisions under his belt, the REAP software assists property investors in quickly analyzing a property to determine whether it is a good deal or not.

"Knowing what your return will be on a property before you put time and money into it can save an investor countless headaches," said de Roos.

REAP, with its editable fields in a fully relational database, has a built-in online upload feature, enabling the user to download periodic updates, which are free with the initial license. It is beneficial for any real estate investor, novice or veteran.


Company Helps Families With Home Ownership

As the stock market remains bearish and portfolios continue to make only minor gains, the demand for homes has never been higher.

It is with this economic trend that more people are opting to invest in one of the most enduring forms of equity: real estate.

Nevertheless, according to the 2000 census, there are more than 35 million families who rent.

Experts say that while many families are interested in home ownership, a major obstacle they face is the down payment.

Enclaves Group Inc., a spin-off of N.Y.-based real estate corporation Homes For America Holdings Inc., has created a "lease and own" program called Your Home, which the company devised to enable renters to enter the homeowner market.

"The Your Home Program is simple to understand and accessible to all Americans," said Mark MacFarlane, chief operating officer of Enclaves Group. "This creative program has no down payment and offers a structured purchase plan that creates home ownership equity for the working family."

In fact, MacFarlane noted that while the demand for housing has spurred the construction of new homes, traditional financing methods have not expanded to accommodate the needs of many ordinary families.

With no down payment required, the ability to accumulate "Good Resident Credits" and build substantial equity over a period of 36 months, MacFarlane says the program taps into a market that to date has received little or no attention: working families from all walks of life and diverse backgrounds who have not been able to overcome the obstacles to home ownership.

"Enclaves is the first and only home builder to target this unserved market," said Robert MacFarlane, chairman and chief executive officer of Home For America Holdings. "It's a simple process - what many families are currently paying in rent can now immediately apply for equity for their own piece of the American dream."


Invest Early To Make Your Dreams Come True

When looking for high quality vacation rentals, or a permanent home in an exotic location, pre-construction is often the way to go. What is pre-construction? Well, it means a home or condo that is still in the planning stages, but hasn't yet been built. The buyer purchases the home from the developer or builder-owner.

But how do you decide what to buy if it doesn't exist yet? Easy! The builder will have detailed blueprints for you to look over, as well as, usually, a model of the building. This gives potential buyers a pretty good idea of what they are getting into. There may even be already built structures that are very similar to the one you are considering. This will give you an idea of the builders quality. But even if you can't see an actual building, buying pre-construction is quite reliable as long as the builder is. Do a bit of research to find out what they have done in the past. If possible, talk to an owner of something else they have built to asses their level of satisfaction. If that isn't possible, a qualified agent will usually be quite familiar with local builders.

A qualified agent can also help you sort out the legal details. For one, be sure to get written and signed documentation stating when the structure will be completed, and what exactly will be included. Find out if there is a home warranty, and what exactly it includes. Be sure there is an "out" for you if the construction is greatly delayed or if the finished product isn't what you understood it to be.

One of the great things about pre-construction is the price. Because they haven't yet realized their full potential, pre-construction real estate is often priced quite a bit lower than what it will be in the future. You, as a buyer, know that the property can only go up in value. After all, the home built will be brand new. As long as plenty of research has been done into the location, the builder, and the type of home, ensuring that it is an emerging market and not a declining one, you can't go wrong with pre-construction.


How You Can Use Rehab, Refinance and Cash Out as Long-Term Wealth Building Real Estate Investing

Today we are discussing a somewhat advanced strategy for you to use after you have been in the creative real estate investing business for a while. I call this “Rehab, Refinance, and Cash Out”. This strategy can lead to true long term wealth and financial independence. This works very well in a buyers market like Memphis where prices have been quite flat for some time. You need to use this to augment your wholesaling for immediate income and retailing for bigger short term profits. Rehab, Refinance and Cash Out is a long term wealth building strategy and will be something you will be glad you did as it is a long term buy and hold strategy, and those are the strategies that lead to true wealth accumulation and financial independence.

Let me explain how this works. You find a good middle to low end 3 bedroom home that you are able to buy from an out of state owner or other motivated seller that needs a little work and you buy at 60% of after repaired value. You buy the house using a hard money lender like http://www.pleaseclose.com/memphistrading and do your fix up and have a property management firm manage the property and put a renter in the house. The hard money lender will typically loan you up to 65% of the after repaired value to purchase the house which you use to buy the house and then repair it. Now that the home is repaired you obtain an investor friendly mortgage and cash out by refinancing at 80-90% of after repaired retail value and you should be doing this with properties where this strategy gives you back at least $10,000 at the refinance that you can use in your business any way you need. Do not use this money to live on, use it solely to grow your real estate business. Once you have done this strategy on 10 homes you should be able to keep finding better and better deals because you can close quickly as you have cash in hand to make things happen. More cash equals better deals and more opportunities.

By the time you repeat this strategy 20 times you should have at least $200,000 cash plus about $200,000 equity and 20 homes giving you at least $2000 per month positive cash flow whether you decide to work this month or not since you have a property management company handling things for you. With average annual rent increases, within five years that $2,000 a month should grow to $4,000 a month. In 30 years you should have $2 to 3 million plus in paid off real estate. It’s a good solid long term strategy to add to your immediate selling from wholesaling, retailing and lease options that the extra $200,000 in cash will help grow tremendously.

The rent minus the management fees and all loan and other costs must leave you with positive cash flow or this strategy should be avoided. If you cannot cash out on the property I don’t recommend holding it long term as you want to be able to use your best mortgages to cash out.

You can purchase using http://www.pleaseclose.com/memphistrading if your Equifax credit score is above 550(which is bad credit) or you have a co-borrower who has an Equifax score over 550. A good investor friendly mortgage company will give you good rates if you are at 660 middle score or above and the very best rates if your middle score is 720 or above. Your first 10 investor mortgages in your name and 10 in your spouses name are the easiest to qualify and get the best deals. After those you really need a good investor mortgage company to work with. Take the time to find the real investor friendly mortgage companies that can help you get loans for 100 properties and not just the first ten and let them have the easy ones and the tougher ones. I do recommend having more than one good lender available though, but stick to the ones that specialize in investor loans. Find out from other investors who the most investor friendly mortgage companies are to use to refinance the repaired home.

I do not advocate becoming a landlord as I do not believe this is a valuable usage of your time and energy. I highly recommend asking around and finding a good property management company that will charge you 10% or less to start out with and gradually lower that % as you add more and more properties.

I feel this is an advanced strategy as you won’t see any cash in your pocket from this strategy for 4-6 months after you find the deal which is a long time to work and not see any pay. If you are wholesaling and making consistent money each month then it shouldn’t matter. This strategy will magnify the profits you make in your investing business in ways you might not have imagined. This strategy is a natural progression from wholesaling as you are already helping others find these kinds of deals, now you will be able to get the cash out typical of probably 2 wholesale deals, just paid slower, and at the same time building a nice future nest egg.


How to Sell Your Home in a Slow Market

The real estate market has slowed down in many areas that were booming over the last few years. Sellers in those areas got spoiled. It was only necessary to put a sign out front, and buyers came. Homes sold in a matter of days. This is no longer happening. If you want to sell your home in a slow area, what do you do?

Go Back to Marketing Basics

Whether you are selling your home yourself or working with a realtor, the answer is the same. Go back to marketing basics. We’ll look at things you can do for yourself if you’re selling as a fsbo (for sale by owner). If you’re wording with a realtor, you need to interview to find one who will do the sorts of things we’ll talk about here.

Start with getting your home in first class shape. Then price it realistically.

Begin your marketing by putting up a “for sale” sign. About 10 percent of sales come from this source in a slow market. It’s not like the days when one put up a sign and buyers came in droves, but it is still worth doing. Lowes and Home Depot both sell inexpensive signs. Get one and install it.

Upload your property to one or more Internet multiple listing sites for fsbo properties. Choose one that encourages adding photos to listings. The more photos the better. Buyers love pictures. Make sure the site doesn’t have a bunch of listings that have already been sold. Buyers get put off by sites where every property they call about has already been sold. Find a site that gives your property its own web address.

Don’t forget lead in signs. These are signs indicating there is a house for sale with arrows on them. They can be placed at intersections to point people from a busy street through the turns necessary to get to your home. Lowes and Home Depot have these too.

Classified ads in your local newspaper are a good idea. You can include a reference to your online listing. That can give you more mileage from the pictures you uploaded.

Brochures are a good idea, too. Put a brochure box out at the front of your property, and keep some indoors for the folks who tour your home. You can probably print an adequate brochure from your Internet listing. If you’re good at it, you can make up your own magazine spread style brochure.

Brochures are useful in several ways. They make it easy for the people who just notice the sign or come in following the lead-in signs to learn more about your property. If they like what they see, they are apt to make an appointment to see your home in person. Be sure your brochure contains contact information such as your phone number and perhaps your email address.

Brochures for people who tour your property will help them remember it. People shopping for a home usually look at lots of properties. After a while they get confused about what they have seen. Your brochure with photos will help them remember your home. That’s a good thing because people are unlikely to write a contract offer on a home they can’t remember well.

Are there bulletin boards at work or your place of worship? Put up a one page flyer or copies of your brochure if you can get permission. After all, the location of your home must be reasonably convenient to those places. What about bulletin boards in the grocery store where you shop, at your dry cleaners, in the drug store you frequent?

The point is don’t do just one thing. Use your head. Put out as many marketing ambassadors for your home as you can figure out how to. The truth is people don’t really sell homes. What they do is bring them to the attention of enough people who are shopping for a home that a buyer inevitably emerges. Present your home to enough potential buyers, and it will sell even in a slow market.


How to Sell your Home for a bigger Profit by keeping things CLEAR!

Getting ready to sell your home can be one of the most stressful areas of the real estate experience, but it does not have to be.  Keeping in mind some key advice will help you get your house looking top shape from the inside and out.  Throughout the process, the best way to go through your to-do list is to accept the fact that you can only do one thing at a time.  With this perspective, all of the pieces will fall into just the right places.

Getting your house decluttered will help you clear your own mind and get you ready for the prospective buyers to start coming.  The best way to get organized is to try to see your house through new eyes.  When you pretend like you are the one who is considering buying your home, you can better see the areas which need improvement.  Take a clipboard and pen with you as you survey from the outside to the inside.  Write down everything which disturbs your eye for even a moment.  Chances are that if you notice something that does not look right, your potential buyers will, too.  You will probably want to share this list with your real estate agent and go through this process more than once, so you don't miss anything.

Now that you have an idea of what needs to be improved, cleaned or changed, you can start knocking them off the list one by one.  Get the outside, "curb appeal," taken care of first.  This will help your house attract attention right away even if the signs haven't gone up yet.  Seeing your house looking its best on the outside will also give you the courage to tackle the inside.

Each room should contain as little clutter as possible.  Get a bunch of clear plastic bins and start filling them up with all of those extra knick-knacks.  Remember that buyers want to picture their belongings in your house.  If your stuff is in the way, then they can't form a mental picture as easily.  To properly declutter, you have to start detaching yourself from your home.  Make the rooms look as large as possible by removing extra furniture, books, objects and wall hangings.  Set aside some time to repaint colorful rooms a soothing beige, cream or linen.  This will make the rooms look even bigger and give the buyers more breathing room.

Any decorative object which you leave in a room should be used as a tool to attract the buyer to a special feature.  Place an interesting candle holder in the fire place, or a few small plants on the mantle.  Draw the eyes to windows with lamps and neat end tables.

Despite all your efforts, be mentally and emotionally prepared to hear your agent tell you that you still need major improvements if you want to get the price you had in mind.  Consider it a good thing that the professional agent you hired is being completely honest with you.  You want to have a real estate agent who knows what and when things need to be done.  Talk to anyone you can about the good agents they have had in the past.  Get a feel for the agent's strengths by asking them as many questions as you can before committing to a contract.  If you have trouble getting a hold of them right from the beginning, then that is your first sign that they may not have the time or capacity to give you the proper amount of attention.

Your agent should thoroughly discuss the marketing plan for selling your home.  Deciding on the price will be one of the most important aspects of this plan.  Depending on your home and the time of year, there will be several approaches to combining the need to sell with the need to get the right price.  For example, if you live in a desirable neighborhood, you may be able to go a little higher than you thought, but may not want to if there are many nearby homes for sale at the same time.  Trust that your agent will inevitably come up with the right strategy, but be outspoken about your opinion.  Although you aren't the professional, it's always possible that you will have an angle that your agent didn't consider.

When you are going through the real estate process, there will always be plenty of people with tips, ideas and advice.  All the input can occasionally do more harm than good, so take everything in as much stride as you can.  Just make sure that your agent keeps you in the loop through the whole process and make your home as appealing as much as possible.  With a clean house and a clear strategy, you should be able to sell your home much more quickly and easily than you thought.


How to sell your home fast and efficiently!

What better way to sell your house fast than by using the Internet? You can find a company that will allow you to forget everything about financial difficulties, making you an offer and showing you that the selling process doesn’t need to be difficult or alarming.

A fast house sale doesn’t equal with high commission fees and if you choose a reliable company, you will know that! A free estimate form awaits you online, but you will have to pay increased attention to the details you provide. Be sure to mention that you are interested in making a <a href="http://www.catwalkproperties.com/">fast house sale</a> as they need to know what your intentions are. If you go online and search for companies that offer you the opportunity of making a quick house sale, you will discover that they present solutions for all the problems you might encounter. For example, if you are facing <a href="http://www.catwalkproperties.com/index.php?go=investor_zone">repossession</a>, you should be aware that the easiest way to solve this problem is to sell your property. The formalities will be stopped, you will be given liquidity and thus everything will be ok. Also, if you have any other financial difficulties it is for the best to sell your property before the bank forecloses it. To sell property fast means that you need to find a reliable company, ready to provide you with an offer without any delays or hesitation.

Start by providing your name, email address and contact number. Then make sure that you provide details about your property, including the address, town and country (UK, Italy, France or Spain). The type of property is also important in order to determine its actual value and present you with the offer you deserve – flat, apartment, bungalows and even mobile homes. You will also have to mention additional information about the existence of garages and off-road parking, as such points can actually increase the value of your property. As you can see the estimate form for a quick house sale is pretty detailed, encompassing a wide variety of topics and allowing you to discover a whole new side of the <a href="http://www.catwalkproperties.com/index.php?go=finance">real estate business</a>.

If you want to sell your house fast, then you have to make reference to how many years you have been owner of the property. For the properties that have already been posted on the market, you will also have to state what are the price and the period of time for which it was advertised. While the condition of the property you want to sell is important, you must know that these companies are willing to purchase properties that are not in such a good shape as well. Nevertheless, you will have to make mention of the current state of the property – rating it as excellent, good, average or below average. If it needs any of the below improvements – kitchen, bath, heating, wiring or windows – then you will have to say something about that.  Every detail matters when you need to sell your home fast and who better to understand your motives than someone with extensive experience in the field?


How To Sell Orlando Real Estate In A Difficult Market

As far as markets go, Orlando real estate is doing better than most. According to Attorneys' Title Insurance Fund, by far the leader in Florida, Orlando remains an attractive market due the many diverse growth industries in the area. Orlando also continues to rank high as a desirable place to live. We're #6 in the 2007 Harris poll of cities nationwide where people would most like to move to.

This means that if you're a seller in Orlando, things could be worse. Sure, prices are down and the Orlando MLS has a lot of homes for sale, but Orlando has so much going for it that new buyers continue to be drawn to the area. This means that buyers have a good shot at a sale IF they play their cards right. Here are my recommendations on how you can improve your chances.

First, in tough times you need all the help you can get, which in this instance means a good agent who knows the neighborhood and has all the right connections. I cannot overemphasize the importance of working with a local broker who knows your property, has all the local listings, and is intimately familiar with the selling points (and pitfalls) of your area.

Second, work with a design consultant. Everyone think their home is perfect, but it takes the experienced eye of a professionally trained outsider to tell you how your home best be presented for sale. You'll likely be asked to remove a lot of clutter, do a lot of cosmetic updates, and perhaps replace some fixtures and lighting to give the home a fresh, contemporary look. This can be taxing, especially if you're asked to replace carpeting, windows or other costly items, but it's worth it. Take my word for it.

Third, real estate sells by appealing to a buyer's imagination, not by showing him or her how you lived in your home. So remove personal items such as personal photos, trophies, collections and all the other clutter that accumulates. The home should look clean, elegant and inviting. Let the buyer imagine what he or she will do with the home.

Fourth, vacate the premises when a realty firm is showing your property to a prospective buyer. Sure, it's a bit inconvenient, but a buyer will really much rather look around than listen to a seller's stories or (often ill-conceived) sales pitch. You are not part of their search, so leave the selling to the professionals. Whenever someone arrives for a showing, just say you're on your way out, and then stay away until they are done.

Fifth, keep your home immaculate! That's easier said than done when it takes weeks or months to sell, but it must be done. So immediately clean up after every meal, put all dishes away, almost have the beds made, and never leave a mess. Hey, you'll probably get used to it and keeping a neat house will become second nature!

Sixth, be reasonable. Work with your broker, be cooperative, and do not hang on to unrealistic expectations. A good broker is on your side, and that is what you need in tough selling climates.

Follow these rules, and you'll make out just fine in the fairly strong Orlando real estate market.

How to sell houses at auctions

Advertising your property at auction can be an immense way of selling your home as quickly as possible. But keep in mind to pack your bags in time – you will have to renounce the keys 28 days following the auction date.

Some of the advantages of selling at auction could be:

• Instant trade of contacts
• Cash acquisition / subsidy in place - minimum 10% deposit remunerated at Auction
• Not subject to agreement.
• Finest value achieved through spirited bidding.
• Market publicity - loads of auctions exert a pull on 100's of impending buyers.
• Predetermined end date.
• Speedy sale - without compromising sale value.

Take care to choose the right auction home. This involves selecting an auctioneer who offers assets analogous to yours, within the equivalent cost range. Choosing an inappropriate auction house greatly minimizes your odds of getting a constructive deal on your house. Also, execute a property assessment before you settle on the reserve cost sequentially to guard yourself against a highly inauspicious sale.

The Costs
The auctioneer will charge you for the commercial in brochures and catalogues, a price that you will have to wrap despite the consequences of whether your property is sold or not. You will also have to reimburse a payment of around 2.5 percent of the sales price. Ahead of signing any contract, note all the operating cost you will have to wrap, even if your house is not sold.

• Lay down the reserve cost
• Organize a deal
• Unfasten your property for viewings

Once the auction starts, the sale is authorized and legally compulsory. The purchaser will have to pay you 10 percent of the settled sales price right away, the excellent balance within 28 days after the auction. If he fails to do so, file a suit against him!
The Disadvantages:

You can by no means be acquainted with how much your property will sell for. An auction is a exceedingly unpredictable marketplace – if there is no stipulate on the day of your sale, you might end up selling it below its market worth.
You will have to reimburse your solicitor to be there at the auction in order to reform any final irregularities and come back with questions. Depending on how keen your solicitor is about itinerant, this can be rather an expensive issue.
A few people believe their confidentiality sullied at auctions, as the properties have to be open to prospective buyers and their surveyors.
Promoting your house at auction can be pricier than selling it through an Estate Agent. Moreover, you will have to wrap certain operating expenses even if your property does not vend.


How To Sell A Residence Without An Agent

With a robust real estate market, selling a residence isn't particularly difficult. Here's a primer on how to sell your own house.

How To Sell A Residence Without An Agent

First and foremost, you need to educate yourself on how real estate transactions happen. There are online guides and plenty of books on the subject at your local bookstore. When you decided to sell your own house, you are considered a FSBO seller [for sale by owner]. This FSBO market is growing like mad, which means you can find form contracts and agreements ready made for your particular state.

A second thing to realize is real estate laws are generally governed by states, not the federal government. This means the particulars of real estate transactions in your state may be different from those in another state. You should look for references related to your state, not nationwide advice. Nonetheless, here are a few universal pointers.

1. Determine the price of comparable homes in your neighborhood. This is going to give you a very good idea of what you can ask for your house when you put it on the market.

2. Objectively look at your home and make a list of things that need to be fixed. Selling a house often comes down to the details. Buyers are making a big investment, so they are going to be very picky about little things.

3. List your house online with photographs.

4. Post flyers or ads in your local property listings magazines.

5. Put a sign on your lawn indicating you are selling.

6. On the sign post, put a box with flyers describing your home and the asking price.

7. Hold open houses for buyers to view your house.

8. Clean your house before all open houses. Add fragrant flowers to rooms, mow the lawn and so on.

9. Get rid of your junk through a garage sale and the trash. This includes cleaning out the garage and basement. Everything should be pristine.

10. Create a documented record of all the improvements you've made to the home to show potential buyers.

11. Become conversant in the offer, counteroffer process.

12. Develop a clear understanding of what happens during closing and make sure you'll be able to take care of your part.

13. Figure out what you plan to do when you sell the house, to wit, are you going to buy another house and when will you move?

While these guidelines will take you a long way, it is important you understand the specific laws of your state. Once you have those down, the process typically goes fairly smoothly. Considering you'll save thousands or tens of thousands of dollars in real estate commissions, any bumps in the road will be more than worth it.


How to Save Your Home from Foreclosure

The Great American Dream of homeownership is what many in our country diligently strive for. Homeownership brings many benefits, as well as responsibilities. Entrance into the status of homeowner may come with little or no cash investment for a down-payment. The loan that is obtained by a first time homebuyer is usually a special loan designed to assist those in the entry level, who have not yet accumulated a substantial sum for the down-payment. Banks will always prefer to lend to a borrower that has more to invest. Usually, the desired amount is at least ten or twenty percent of the purchase price in the form of cash. Almost without exception, the banks or mortgage lenders will make special loans with very little or no down-payment to a homebuyer because the loan is usually insured or guaranteed against loss of principal by a governmental or quasi-governmental agency.

First time homebuyer loans are usually the first loans that go into default in an economic downturn. Financial hardships caused by either loss of job, accident, injury, or relational problems begin to turn the American Dream into a nightmare. Although in a normal economy, there are very few people that actually end up losing their homes, those in the midst of the foreclosure suffer and many do not see themselves successfully out of the problem they get into. The following information is shared in the expectation that it will provide a path for those caught in that difficult situation, and assist in resolving their particular financial problem.

The Foreclosure Process in California

The California home-buying process usually involves the use of the deed of trust, which by its legal definition involves three parties; the trustor (borrower), the beneficiary (lender), and the trustee (neutral third party receiving the right to foreclose). The deed of trust usually includes a “power of sale” clause that gives the trustee the legal right to enforce collection of the debt. Collection of the debt is ultimately enforced by the right to sell the house when the borrower fails to make their mortgage payments. Defaulting on one's loan causes the start of foreclosure, the process by which the lender takes over the home in order to recover the their principal investment. Once the house is either sold at auctioned or "repossessed" by the lender, it is sold and the former owner must vacate at the discretion of the new owner. When there is a power of sale clause in the deed of trust the non-judicial process of foreclosure is used. In non-judicial foreclosure the trustee must meet a few requirements before he or she sells the property. In comparison to a judicial foreclosure, Non-judicial foreclosure is quick because the trustee does not have to obtain a court order to foreclose, nor is court supervision required in order to sell the house, as is required in the judicial foreclosure process. The judicial process of foreclosure is used when a power of sale clause is not in the deed of trust.

In California, the timeline of non-judicial foreclosure begins when the trustee files a notice of default. This is a letter which is sent to the owner/trustor notifying him or her of their default of the loan. This notifies the owner of the intent of the lender to follow through on their right to collect on the debt. The copy of the notice, which is recorded at the County Recorders Office of the appropriate county, is mailed to the address of notice as per the deed of trust. Recording of the notice of default can vary greatly depending on the beneficiary. In can occur anywhere between a week to many months after one misses their first mortgage payment. The step that follows next is that stage of the foreclosure process in which there is a filing of the Notice of Trustee's Sale. No sooner than ninety (90) days after the trustee records the notice of default, the Trustee must publish a notice of trustee's sale in the local paper and simultaneously file that notice with the county recorder's office. No sooner than twenty days (20) after the notice of trustee sale is filed, the home may be sold at public auction for the amount of the debt plus foreclosure costs. If no one bids at the auction, the lender assumes ownership of the property, and may dispose of that property to recover their cash investment.

What You Can Do to Avoid or Stop the Foreclosure Process

The first and most important step that one can take in preventing the loss of one's home through the foreclosure process is to "communicate, communicate, communicate"! This first step, along with a few others, is detailed below.

    * Negotiate with the lender. The lender will always work with a client of theirs if the client takes the initiative to communicate any financial hardships that may have caused the default. Negotiate with the lender for a payment adjustment in order to make up for the missed payment or payments. It is imperative that you act quickly in order to prevent the sale of your home, because once the foreclosure process begins you only have 120 to 140 days before your house is sold. Contact your lender to explain your situation and work out a way for you to keep your house. You have the most time and the best chance of being able to negotiate a solution before the trustee files the notice of default. If foreclosure has already begun you must contact the lender during the 90 day period before the notice of trustee sale is posted and filed.

One of the most common causes of failure to communicate is that many homeowners facing foreclosure avoid contacting their lenders because they are upset or embarrassed. Many times the homeowner mistakenly belie the lender will not help them because they feel that the lender prefers to foreclose. In reality, the opposite is true. Banks and other lenders are primarily in the business of earning money by collecting interest on loans that they have made. Their net income is derived by having a specific process in place in order to invest and receive the interest payments. They find it cumbersome to go through the foreclosure process, and usually are not well equipped to manage foreclosed properties. Because of this, most lenders are willing to work with homeowners because foreclosure is more costly for them. It forces them to allocate time and resources to an unprofitable activity. Contact your lender immediately! Do not ignore phone calls and letters from your lender. If you do not inform your lender of your situation, it will be will assumed that you do not intend to pay and the process will go forward.

It is important to prepare well before you contact your lender. You must gather all documents supporting your income and expenses, as well as all loan account information. When you call ask to speak to someone in the customer service department, be upfront about your circumstances and be prepared to discuss your financial situation in detail. Your lender needs to know clearly your financial situation in order to determine whether they are able to offer a solution. Your lender should be able to then offer you one of the following options:

Loan modification: this is when the lender agrees to modify the terms of the loan. As an example, the lender may agree to extend the term of the loan or lower the interest rate of the loan. This option helps you catch up on unpaid payments by making your monthly payments affordable. Loan modification may be appropriate if you have recovered from a financial problem and can afford to make your loan payments if they are adjusted.

Repayment plan: This option allows you to catch up on unpaid payments by adding a portion of the late payments to your regular monthly payments. A repayment plan may be suited for you if you have recently recovered from a short- term financial problem and are now able to resume making your regular monthly payments but need time to catch up on the unpaid payments.

Reinstatement: This is when you are able to pay off the entire balance of the unpaid payments by a specific future date. Reinstatement may be appropriate if you know and can prove to your lender that you will soon be receiving a quantity of money that will allow you to bring your loan account current.

Forbearance: This is when the lender agrees to temporarily reduce or stop your loan payments with an agreement on another plan to bring the loan account current. This option stops the foreclosure process and is combined with other options, often reinstatement.

If you are uncomfortable with negotiating with your lender by your-self or if you want to better understand of what options you have, contact a reputable foreclosure assistance counseling agency. When selecting an agency to work with, choose one from the U.S. Department of Housing and Urban Development’s list of approved housing counseling agencies. Beware of phony “counseling agencies” that approach you with the promise to advise you on your situation, provided that you pay a large fee!

    * Borrow money from family or friends. Many people tend to shy away from this as their first option. One would think that this option would be the most common-sense place to start. Many people completely eliminate this as a means to gather the funds necessary to bring the loan current simply because they are embarrassed to ask. They do not want family or friends to know that they have encountered financial difficulties, so they look elsewhere. Family or friends many times are te ones that are most committed to lending a helping hand. If they are able, they are very likely to be very willing to help out. Oftentimes because of embarrassment, they are not approached until it is too late in the foreclosure process, and are unable to obtain funds quickly enough to help out. Obviously, there are situations where the family

members or friends are not approached because there are already strained relations, or they want to avoid causing any discomfort to their inner circle of friends or family.

One of the best things that I can recommend to you is that you approach the request for assistance in a very businesslike manner. By that I mean, you should look to secure their interest just as you would expect if you were the one providing the funds to someone else in trouble. The greater degree of security that you can offer them in protecting their funds, the greater probability of successfully obtaining the funds necessary to stop the foreclosure.

    * Borrow from institutional lenders. A third option is to borrow from institutional lenders to bring up back payments. This can be done by refinancing, or simply by borrowing against the equity in the home. These lenders will primarily consider equity when determining approval of a loan. Equity is defined as the difference between the fair market value of the home and what is owed on the mortgage. Refinancing is when you take out another loan in order to pay off the existing mortgage. When refinancing to avoid foreclosure, you may be able to obtain a lower interest rate, a longer payment period, and/or a lower monthly payment which would make your mortgage payments more affordable. Usually lenders that become aware that you have fallen behind in the mortgage payments will shy away from lending to you, so if you expect to borrow from an institutional lender, you must act very quickly before your credit reflects any late payments. If the lender is aware that you are in default, they will probably refuse to lend, or offer an loan with much higher interest rate to account for the borrower's inability to meet their financial obligations.

    * Borrow from private party lenders. There are individuals that have funds to invest and are looking for a higher return on their investment than can be obtained by depositing their monies with savings institutions. These individuals are expecting a high rate of return on their cash investments, and understand that the loan that they are funding is a high-risk loan. Usually, once the homeowner falls behind in their mortgage payments, it is increasingly difficult to borrow money. These private lenders usually consider the equity in the property when making the loan. Because the borrower is behind in their payments, the lender cannot look upon the borrower's ability to repay in a timely manner as the primary basis for qualification. The lender looks for the security of their investment to the ability to recover it based on the property's market value and what is owed by the borrower on the property. Almost without exception, these loans carry a much higher interest rate than the normal home loans obtainable at banks or other lending institutions. They are, however, many times the only option left to a homeowner in foreclosure

    * File for Bankruptcy

There are two chapters dealing with personal bankruptcy; Chapter 13 and Chapter 7. The main difference between the two chapters is that Chapter 13 helps individual debtors pay off their debt with court supervision and protection while Chapter 7 eliminates, or in legal terms, liquidates, the debtor’s debt. Based on this simplistic definition alone bankruptcy may seem like the simplest and best solution to your financial problems. However when considering filing bankruptcy be aware that it is not an action that simply frees you from your debt, it is a complex legal process that has weighty financial consequences. For most debtors it is not the best option and should be considered as a last resort after all other options have been investigated or attempted. Individual financial circumstances are so different that you should seek the counsel of a financial planner or accountant and a bankruptcy attorney in order to discuss your particular financial situation and the implications of a bankruptcy. If you do not have an established relationship with an attorney, I would recommend that you get two or three opinions.

6. Sell the Home. Many times, the best solution for someone that has fallen behind in their payments is to sell the home, and thereby recoup 100% of their equity minus selling costs. Unfortunately, many homeowners get caught up in the emotions of the hardship and overlook the realities of their financial circumstances. Almost as if with blinders on, they stagger about hoping for a magic solution, sometimes waiting until it is to late to come up with a rational plan. If a homeowner can reasonably assess their finances and determines that they cannot carry the financial load, they might be much better off selling the property and preserving the bulk of their equity until they are again able to become homeowners, if they so wish. They must act quickly so that their credit is not ruined by the failure to make their mortgage payments on time, or by using the bankruptcy process just to forestall the sale of the home. Don't let your equity be eaten up by the high costs inherent in loans made to those in distress. Sell the home and preserve the most important or valuable part, namely the Equity!

Unfortunate circumstances befall many of us as we go through life. Protect your financial health by being proactive when these problems occur. As long as you act quickly and take steps to preserve your assets, you should be able to avoid going into foreclosure. If you do go into foreclosure, following these guidelines should minimize the pain of the process. Seeking assistance promptly from professionals in taxation, law, and real estate will improve your chances of handling the process well.
For other real estate related articles or information, visit www.nefcortez.com.


How to Really Declutter Your Home for Buyers

Your real estate agent has come to your house to assess what needs to be done to sell it the quickest.  The word, "declutter," continues to come up.  You assure your agent that you are a very neat person and that everything will be clean when the potential buyers come to view it.  Many sellers encounter the same situation each day.  What agents wish their clients would understand is that decluttering is more than just keeping the baseboards dust-free and the countertops wiped down.  Try some of the following tips and wow your real estate agent, and especially, your buyers.

With pen, paper and clipboard in hand, tour the outside of your home, then the inside.  As much as possible, pretend that you don't own the house and even that you've never seen the place.  You will quickly see what your real estate agent meant by decluttering when you use this new perspective.  Write down anything which is the least bit offensive to the eye, including unruly hoses, toys in the front yard, a busy mantle above the fireplace and newspapers stacked up in the laundry room.  The list will seem longer the more times you go through the process.  However, the more you notice, the more prepared your home will be for eagle-eyed buyers.

The biggest stumbling block for sellers preparing their home for the market is their lingering attachment to their house.  From repainting a room neutral, to taking family photos off the wall, sellers must accept that their time in that particular house is coming to an end.  To counteract this mental block, take your most personal items out of rooms first.  Get plenty of clear plastic tubs, or boxes to store your items.  Treat the decluttering process as if you are preparing a model home for viewing.  In order to sell your home, you have to give the buyers room to imagine their personal belongings.  Little forward-thinking daydreams about decorating your new abode should also counteract those strong attachments.

A good round of decluttering will often leave you with a pile of boxes and bins to contend with.  Although stacking them up in a closet seems like a nice, out-of-the-way option, this may not be the best choice.  Consider that closet space is often one of the key selling points for a home.  Closets should look as impeccable as possible.  This will aid greatly in creating a spacious feeling.  If the closets are crowded and messy, the buyer may think that your home is just not big enough, even if it has the square footage they want.

Your garage is the most acceptable place for storage in the mind of the buyers.  Of course, not everyone has this luxury.  If you can convince a family member, friend, or even a neighbor to let you store those boxes and crates, then take advantage of the opportunity.  However, if you really need or want your storage items in the house, then try to stack them up in the least conspicuous place you can find.  A playroom or basement can usually stand to have a few of these bins stashed in the corner.  Better yet, think about renting a temporary storage facility to house these things.

Despite all your efforts, be prepared to hear your Tampa Bay Florida real estate agent tell you that you still have too many belongings cluttering the house.  If this happens, just remember that they're on your side and that they're the expert.  Also, remember that a well-decluttered house is your quickest ticket to a "Sold!" sign.


How To Profit In Real Estate Investing With Fixer-Uppers

There are many people who get into real estate investing and who, in the process, just follow a simple formula which is using the well tried and certainly most tested way of doing business in real estate and that is to buy homes being put up for sale by owners who are in distress. In such instances, they are able to snap up distress properties at rock bottom prices and then they simply fix up the properties with a view to selling them further at a higher price and in the process make a tidy sum of money. As a matter of fact, it has been found that those who have used such simple strategies over the long term have succeeded so much that they have made enough money to turn into millionaires.

Different Reasons Why Distress Homes Are Put Up For Sale

The problem of course that one has to contend with at the very outset is that of learning how to find fixer-uppers. In this regard it should be mentioned that when a homeowner becomes distressed it may cause them to cease to properly maintain their properties and often, they may even end up falling behind in making the payments on their properties. What's more, both buyers and sellers are known to have a number of different reasons why they get into real estate investing in fixer-uppers though common reasons include losing a job or going through a divorce and even illnesses and alcohol abuse can cause a seller to become distressed.

Whatever the reason why a homeowner becomes distressed, there is no doubt that the real loser in the equation is the property which will suffer because it won't be properly maintained and payments on it too will start to be skipped and thus it becomes an ideal candidate for being sold as part of a fixer-upper strategy. And, among the most lucrative real estate investing opportunities that you will come across when it concerns fixer uppers are homes that are completely rundown, owned by a seller who is in the process of divorcing their spouse and those who can't keep up with their mortgage payments.

Still, homes that are very ugly and which need fixing are really quite difficult to sell off because buyers for such homes are rather limited and not easy to convince to buy such type of homes. Obviously, homeowners prefer to put their real estate investing money in homes that don't need much repair work because having to repair a home or upgrade it is not something a prospective homeowner will want when purchasing a home.

To be sure, most homebuyers need a property that is a home and not something to invest their hard-earned money in. Furthermore, when you are looking for fixer-uppers with real estate investing in mind you will also have to have contractors available who can make a home inhabitable with just a little work. Once you are sure that you want a contractor to repair and upgrade your home, you can then prospect for homes that are available at bargain prices.

Typically, you should scout the advertisements that have terms such as as-is or fixer-upper or even handyman's special or other similar terms that show you that the home requires some repair. Even a local real estate agent can point you in the right direction. If you stick in this line long enough, people will then come to understand that you are in the fixer-upper line of real estate investing and will then contact you with suitable and tempting fixer-upper deals.

Having located a suitable property, you then need to be sure about what the problem with the home is and then think of ways to solve such problems. Often, the problem may have a lot to do with financial constrains rather than requiring to physically repair the home and if such is the case, you can then get an even lower sales price for the property in question. However, be aware that fixer-uppers in real estate investing is a line in which you must always tread with great care and caution because even a small mistake can lead to disastrous consequences.

The bottom line is that you must first of all put together a good team and to also do home buying in a very careful and conservative manner. In addition, you should also be prepared to pay whatever it takes to repair the home and once you understand and act properly on these parameters you will find that fixer upper in real estate investing can fetch you plenty of money.


How to profit from real estate by wholesaling

Wholesaling in real estate is an entire business in itself and generates super-fast profits, usually without ever acquiring the title on the property. It's not uncommon to pick up a check at closing, with the seller and buyer present at the same time. Many times I have earned thousands of dollars within two or three days of finding a deal. Successful people in the wholesale business are accomplished at locating good deals and marketing them - primarily to people who are in the rehabbing and retailing business. The first purchaser is willing to take a smaller, fast profit and leave the larger profit to an investor with the time and money to buy, repair, and sit on the house until it's sold.

Some people are making a good income by buying and then reselling immediately only once or twice a month. These deals require no money, no credit, and no bosses. Believe me, if you locate a deal, someone is waiting to buy it from you.

Finding bargains for bargain hunters is the easiest and quickest way I know to pick up a check for at least $5000. The whole process shouldn't take more than 15 to 20 days from the beginning to the end. Following are some tips for wholesaling:

1. Don't pay too much. Remember, you're selling to bargain hunters. Leave them plenty of room to make a profit or you won't find a buyer. That means they should net at least 20 percent of the sales price after all expenses.

2. Your only exit is to sell for all cash quickly. Make sure your buyers can get the cash and aren't relying on bank financing. Don't allow buyers to learn banks won't finance junkers at your expense. If a buyer can't close in 15 days or less, find another buyer.

3. Use an assignment of contract and let your closing agent collect your fee.

There's really not that much to learn about wholesaling. It's an easy real estate business. Many people are doing one to ten deals a month and netting a decent earning. Some make more on one wholesale deal than most people make in a year on their job.


How to profit from real estate by rehabbing and retailing

Buying houses low and selling them high is called retailing. This is the most easily understood method of investing in real estate. It's the art of buying at a low price, often doing some repairs, and then selling at retail price and usually cashing out. A lot of money is made through this method. Some people do it part-time, turning 2 or 3 houses a year, and make more money at it than they make on their regular jobs. Others do it full-time and turn 40 to 80 houses a year with an average profit from $20,000 to $35,000 per deal.

Rehabbing and retailing houses is very profitable, but it is's also the hardest way to make money in real estate and is layered with costly entanglements. A lot of satisfaction comes from rehabbing. Following is a list of tips for rehabbing and retailing:

1. Buy in areas where qualified buyers want to live.

2. Never close your purchase without confirming your assumptions, that is, after repaired value and repair estimates. Do your due diligence and get the purchase appraised as completed; buy title insurance; have a termite inspection; get repair estimates from qualified contractors; and get estimates to fix any other traps you can avoid.

3. Always borrow more than you need to buy and repair. The job will always cost more, take longer, and yield less profit than you expect. You better have a cash reserve.

4. Keep a tight leash on contractors. They'll play you like a yo-yo, which can - and probably will - be one of your biggest learning experiences in The School of Hard Knocks. But hey, don't worry; I graduated from that same school top of my class, and I survived.

5. Don't tie up your cash. Tying it up is a good way to become a motivated seller. The greater your need to sell, the longer it will take.

6. Do a nice renovation job. It'll pay handsome dividends in saved holding costs and in satisfied customers who'll send you more buyers.

7. Find a good loan processor or mortgage broker to get your buyers financed. It's the difference between success and failure. This person has your paycheck in his or her control,, so make sure the person you find knows his or her business and follows up.

8. Master the art of selling houses as fast as humanly possible. Slow selling is the biggest weakness for most yet one of the easiest to fix. If you sell houses the way most untrained investors do, it'll be a while before you get paid.

9. Never do your own repairs. If you do, you're working as a laborer, not an investor. You make money by locating and buying good deals, not swinging a paint brush. If you adhere to tip 3, it won't be a problem; you'll have the money. Some people tell me fixing houses is their therapy. I say if you lay hands on a house, you need therapy.

10. Get trained at this craft of quick turning real estate before you have to pay an ugly price for your education. Education is a lot cheaper than ignorance.


How to Prepare for a Land Tax Sale

You just read, in the legal section of your local newspaper, about vacant lots or land parcels for sale. This county sale is due too uncollected back real estate taxes that are owned to your local county offices by the current land owner.

 If you have never attended a Real Estate Tax sale before, their is a learning curve on How to Prepare for this land purchasing, opportunity event.

 This is an opportunity, because you can invest in land for sale at a very small fraction of it's market value. A real buy low event. However, preparation meeting this opportunity will help spell success in your new purchase or purchases of land for sale.

     PART I

 Research your potential land for sale purchase. Many advise that you do a little title search yourself at the local county assessors office to look for any title liens or other clouds to the title within the lands recorded documents. An easier process is to pay a title company for a Title Binder, which will reveal any liens or title disputes prior to your bidding on any land.

 In order to do a search you need what they call a legal description. Usually this consists of the lot number, block number and unit number of a named subdivision. For example, lot 1, block 12, unit 3 of the Pacific Subdivision. Obviously this subdivision is located in your county and state.

 In your search, the local county tax is a lien against this land for sale. This will show on your search or title binder, but should also show as a dollar amount in back taxes within the local newspapers legal notice. Other federal back taxes or what is called mechanics liens may also show. So when the title is transferred to you or others, these liens need to be paid in order to pass clear title. If you do not discover these liens, you will have to pay your bid amount and eventually pay these other liens before re-marketing the land.

 After your title search you need to locate your lot for sale. If it's located in an existing subdivision, a local street name and number may suffice. However, much vacant land is located in the open areas were no development has taken place. In this case, you need a plat which shows all the lots located in an existing area. These plats show various lots and street names and are public information. You can purchase recorded plats at your county court house or a local mapping service at very reasonable prices.

 When viewing the land for sale, you need to determine if this a buy now and hold for later sale investment. If not, perhaps you can purchase now and re-sale immediately for an immediate gain. In other words, what are your investment goals.

     PART II

 You have your plat maps, a list of eligible lots or land parcels for sale that you want to bid on and a "letter of credit". You need to visit your bank a day or two before the tax land sale and arrange to have cash available or a letter of credit showing you have a dollar stated amount in you checking account. The county wants certified funds or cash in order to transfer title to you, the new land owner. Assuming you successfully won the land bid.

 You can transfer funds from your savings account or line of credit to your checking account. Make sure you have ample amounts in order to bid on more than one piece of property for sale at the land auction.

 Remember, the "letter of credit" is essential in order to bid. The county officials will not just accept you personal checks without this letter. With it, you will receive your bidding number. Sounds as though you might be prepared now, but a few other needed elements exist for your success. Elements that we will review in the Last Part of this article.



How to Negotiate Without Losing Your FSBO Cool

No buyer wants an uncomfortable confrontation with the owner of a house for sale. Therefore, when a buyer asks to negotiate on aspects of the fsbo sale, it is important for the house owner to project a calm, relaxed mood and respond to negotiation requests politely. This reduces the risk of blowing a potential sale.

The goal of a good salesperson is to handle the sale in such a way both seller and buyer walk away from the sale feeling they got something they wanted. The sales floor, then, is no place to let egos get the upper hand. Be willing to compromise on minor issues.

<b>Elements of a Successful Negotiation</b>

By asking a fair price for your home you greatly reduce the risk of negotiations turning nasty. Other elements that make for successful negotiations are as follows:

<ul><b>1.)</b> Plan ahead. Decide before hand what aspects of the sale are negotiable, and which are not. This will reduce frustration during negotiations.

<b>2.)</b> When setting your house for sale by owner asking price, set it higher than your rock bottom price. Expect that buyers will ask for you to negotiate on price.

<b>3.)</b> Foster a calm relaxed tone and make good eye contact. Listen carefully to the buyer, and avoid the temptation to interrupt them.

<b>4.)</b> Keep in mind how much of the equity is saved by not going through a real estate agent when asked to reduce the price. Reducing the asking price by 2 or 3% still puts you way ahead of the game.

<b>5.)</b> Avoid the word “NO” when negotiating. Be willing to compromise on minor issues. Even when a point is not negotiable, take the time to explain “why.” This sends a better message to the buyer.

<b>6.)</b> Get everything in writing. Don’t rely on trust. Document what terms and conditions are discussed and agreed upon, and what still needs to be worked out.</ul>

<b>Prepare a Negotiation Worksheet</b>

By preparing a negotiation worksheet, you help the house for sale by owner negotiations go more smoothly, and the atmosphere to remain calm. You also reduce the risk of frustrations resulting from misunderstandings that could arise later.

The worksheet is not meant to be a legal, binding document. It is only to serve as a visual aid to keep track of what aspects of the sale process are agreed upon by both parties, and what aspects still need to be worked out. The worksheet will also serve as the foundation for the purchase and sales contract that should be drawn up with the help of an attorney.

The Negotiation Worksheet should include the following:

<ul><b>1.)</b> The seller’s name

<b>2.)</b> The buyer’s name, address, and phone number

<b>3.)</b> A description of the property fsbo, including address

<b>4.)</b> The purchase price

<b>5.)</b> The amount of the deposit

<b>6.)</b> Who holds the deposit

<b>7.)</b> Financing information

<b>8.)</b> Pre-Qualification letter due date

<b>9.)</b> Date of final loan approval

<b>10.)</b> Whether or not the seller is financing

<b>11.)</b> Who pays for what (inspections, appraisals, repairs, attorney fees, etc.)

<b>12.)</b> What is included in the sale (personal property such as appliances, curtains, etc.)

<b>13.)</b> Other conditions of the sale (buyers must first sell their current home, maximum mortgage note %, property inspections, etc.)

<b>14.)</b> Anticipated closing date

<b>15.)</b> Rental fees if seller continues to occupy the home after the closing

<b>16.)</b> Notation that the worksheet is not a binding document

<b>17.)</b> Any other aspects agreed upon, relevant to the sale of the property</ul>

For a MS Word formatted Negotiation Worksheet template, email the editor of Virtual Real Estate Listings at . Type “Negotiation Worksheet” on the subject line of the e-mail; include your name and email address when making your request.

By both parties being willing to negotiate and documenting what has been agreed upon, fsbo dealings will go more smoothly, with irritations kept to a minimum. And the house for sale by owner process will be a win/win situation for both the buyer and the seller.

© 2006 Lori S. Anton, for Virtual Real Estate Listings

How To Negotiate Real Estate Deals On the Internet

Negotiating a successful real estate contract, whether in person or on the Internet, requires communication skills and the ability to create an environment of trust and cooperation. As much of consumerism shies away from personal or direct selling, real estate is one product that most predict will hold on strongly to the personal approach.

'Seeing' the product and 'trusting' those who rent it are significant success factors in the industry. Internet marketing standards are of precise importance to real estate because many of the obstacles reflected in these principles are particularly high for this industry. A first principle is that Internet marketing must be calculated to reach the target market. It is not sufficient to set up a nice home page and hope that the right audience will find it, and appreciate the product.

Create Credibility

The bigger the need for credibility, the greater the need to follow the unwritten principles of Internet marketing when presenting your product. Effectively promoting real estate requires the instantaneous formation of trust and comfort: To miss doing this on the Internet will end customer relationships before they can start forming, and creates a bad precedent for future transactions.

Always remember not use intrusive or pushy messages that invite an immediate sale. Let the web visitor be interested in your real estate product by properly, and slowly guiding him or herself through the pertinent information provided, to fully answer their queries and concerns. Patiently, and concretely dealing with an online real estate client 'invites' interest.

Be Transparent With Customers

It is imperative to provide full information, and clearly explain how the details can be obtained. Do not hide or conceal significant information about your real estate product, even if it tilts towards the negative. The importance of straight talk, honest and factual information will develop the confidence required.

For example, by clearly stating early in your message whether or not you ban pets or if your building is adult-only will narrow your market to authentic potential clients. Respecting the Internet customer by providing 'filtering' information is polite and makes plain good marketing sense. Busy consumers would be delighted to be able to get useful information faster and more concise.

When dealing with real estate on the Internet, Ensure that you provide some extra information that would be of real use to your guest. Offer an 'apartment or house assessment' feature that provides a form to enable clients to make comparisons, or an article on the community that would provide relevant useful information and links for new buyers or sellers.

Offer immediate choices, which show the guest that he/she is in charge and is not being tricked or enticed into something flawed, or suspicious. You must explain the choices clearly and provide check boxes if a guest confirmation is needed to 'proceed' with something that involves a commitment. Do not overwhelm your guest with bright lights and colored animation when your page pops up: You would want to create enough credibility to build some trust as your guest uses your page, and not see a carnival or a fireworks display of flashing lights and colors.