7 Factors To Consider Before You Buy A Home!

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Although, we are, presently, experiencing, a Sellers Market, in housing, which, we have never seen, in recent memory, to this extent, and, resulting, escalating, home prices, and, far – more, qualified, potential buyers, than houses, for – sale, instead, of over – reacting, etc, a smart buyer, will take the time, and make a concerted effort, to better understand, and, truly, appreciate, those significant factors, which every buyer, should! These factors, are, of course, in addition, to closely, examining, the specific features, and quality, of the house! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 7 key ones, and why, they matter.

1. Area/ region/ neighborhood: Consider, what you like, and don’t, about a specific area, region, and/ or, neighborhood! What are the strengths, weaknesses, and neutral considerations? If, you are familiar, with the area, why are you attracted to it, and what does it offer? If, you are not, do some research, speak to neighbors, and drive – around, and observe!

2. Your personal, present/ foreseeable – future considerations: Each of us, is unique, in certain ways! Since, for most, their home’s value represents, their single – biggest, financial asset, it is wise to pay keen attention, to what you are seeking, and differentiate between, your present and foreseeable – future needs, priorities, and goals, and how a specific house, might, serve your purpose! What attracts you, and not, and, why?

3. Real estate taxes: Remember, often, real estate taxes, are a significant component/ part, of your monthly costs, of home ownership! When, doing your calculations, don’t forget to seriously, consider, the impacts of these!

4. Safety/ crime: Examine the area’s relative – safety, and crime figures! For most, living in a safe neighborhood, is a most, significant factor! Look at the data, rather than, just asking someone!

5. Conveniences: How convenient is the location, especially, as it relates to your needs, and priorities? Is it, close to shopping, markets, drug stores, etc? How about access to mass transit? Is it easy and convenient, to use a car, etc?

6. School quality: If, you presently, have, or plan, to have a family/ children, or, even, if you don’t (because it affects, future resale values), examine the reliable data, regarding the quality of the local school system! Many states publish official data, etc!

7. Your personal comfort zone: What makes you feel comfortable, and how, would a particular property, enhance your enjoyment, etc? Do all the facts, fit into your personal comfort zone, especially, in terms of costs, monthly expenses, area, location, and all other relevant factors? Remember, if you aren’t comfortable, you probably, shouldn’t purchase that specific house!

Be a smarter home buyer! Consider these, and any other, personally – significant factors, carefully, before making a final decision!

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Source by Richard Brody

How to Find Real Estate Buyers by the Dozen

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Buyers are out there, it’s just a matter of rounding them up and keeping in touch. It helps to be able to determine which type of buyer you are hunting for from the start. Remember this: you’re the person who has something they want when a buyer calls you; if you are calling them then you are trying to sell them, let’s insure buyers call you so you remain in the position of power from the start. You should Be a Real Estate Heavy Weight.

Let’s look at a few categories of typical buyers to get some perspective on their mindsets and how and when we’ll market to find them in order to supply their real estate buying needs.

o Rehabbers: These are folks looking to fix and flip property for quick turn profits.

o Landlords: These are folks looking to buy to rent out to others for long-term equity accrual while generating a positive cash-flow every month.

o Wholesaler’s: Will either buy or put an option on your contract to hopefully flip the paper to another buyer who is willing to pay more.

o Lease Option end-buyers: These are folks who can’t qualify for a loan of their own but want to be home owners as opposed to renters again.

o Retail Buyers: These are end buyers who can obtain a mortgage or have cash and generally buy the property for their own housing needs.

There are variations of buyers out there but the above 4 types are generally considered the prime targets of people who have property to sell. Understanding each buyer’s mindset helps you to market to those buyers interests, do they want quick cash, long-term wealth, tax deductions, a place to call home etc… If you ask enough general questions you’ll quickly discern which type of buyer you have at hand. Once you know, you can then tailor your offers and present properties that satisfy what is important to them.

Buyer: Someone who is ready, willing and qualified! Those that aren’t qualified may be perfect tenants, lease option buyers or owner finance candidates, so qualified can have different meanings.

Ready: Someone who is in the market to buy within 1-45 days, keep in mind a retail or lease option end-buyer generally buys once and they’re out of the game, landlords, rehabbers and wholesaler’s are more likely to buy multiple properties from you over time as they accumulate, sell or flip existing assets. Having active buyer’s lists in different categories that are often ready to buy property is a very smart way to operate.

Gee Danno, how do I find these people? Ah! I’m so glad you asked! Let’s start out with one of the all time greatest methods to kick-start your building a buyers list. In your search for bargain priced properties of your own, it makes sense that you will eventually find a very good deal, once you have a superior deal to offer you turn around and market that property at cost! Yep, no profit for you on this one. Why? Because you are going to advertise that property to every investor and potential property buyer on the planet!

The reason for this is that you will get the most calls and response when you advertise a screaming deal! Granted you’ll most likely sell that deal relatively quickly but you’ll be gathering information from each potential buyer who calls to build your buyers list for future properties that you offer. If you don’t have a property of your own to sell, ask someone who does! I can assure you that they aren’t going to turn down your offer to advertise their property for them for free! You might negotiate a small fee if in fact you do sell their property but your main objective is to build you buyers list!

Let me give you an example of one way to collect potential buyers by the dozen, hold an auction, advertise for a solid week in advance so you attract the most amount of buyers, begin with bandit signs, placing about 100 of them around a 5 square mile area of the property, we just did this and had 800 calls because it was a great deal of those 800 calls we had 300 people show up on auction day, of course the home sold but we also added new buyers to our buyers list.

Here are ways to advertise for those buyers:

o Bandit Signs

o CraigsList

o Backpage

o GoogleBase

o Postlets

o Zillow

o Pay Per Click Ads

o Local online Classifieds

o Media Website

o Flyers

o Newspaper/inserts

o REIA’s

o Direct mail/post cards

o Start an investors MeetUp group

o Email

o Phone

o Fax

o Your own website

Use your imagination, the list is limitless, there is a free e-book called the Internet Real Estate Yellow Pages that you can download for free at my site MagicBullets.com go grab that and you’ll find 100 more ideas and places to list your deals. Now go Be A Real Estate Heavyweight!

Dan Auito :~)

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Source by Daniel Auito

8 Steps to Buying Your First Home

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There are few things that carry the same financial weight as our first home loan. This can be a stressful time for first home buyers and the process at times, can be a bit challenging.

To help, we’ve outlined 8 steps to buying your first home to give you an idea of what’s to come. But remember, nothing can replace the value of finding a mortgage broker you trust to help you through the process.

Step 1: Save your deposit

Before you start looking for your first home, you will need to be financially prepared by saving a deposit. Generally, saving 10% of the value of your first home is a great target since it meets most lender’s requirements. Ideally that 10% has been saved over a minimum period of 3 months which is known as ‘genuine savings’. Showing lenders you can regularly save means they trust you more to make your loan repayments.

That 10% will be split into 1) your deposit and 2) associated costs. One of the biggest costs will be stamp duty, along with legal costs, strata and building report costs.

Step 2: Establish your capacity

It is now time to figure out exactly how much a lender will loan you, and how much you can afford to repay. Financial factors that are considered include, how much you get paid, how much debt you have, your living expenses, your assets and more.

It will also be time to figure out what incentives are available to first home buyers in your state. Depending on the value of your first home, stamp duty might be waived or discounted along with potential first home owner grants.

Step 3: Choose your lender and loan product

This is a pretty big step. Choosing your lender and the loan product you like is a big decision. But remember, choosing a loan is not just about the rate. Additional considerations, like if there is a fee to pay off a lump sum of your loan, if the rate is fixed for a period or the availability of offset accounts are all important. And sometimes a slightly higher rate might give you all the additional features you want.

Step 4: Get pre-approval

Having a home loan pre-approval means that your lender has given you a conditional ‘thumbs up’ for your home loan. This means you can go out and find that dream home secure in the knowledge of how much you can spend. The pre-approval to aim for is one where the lender has seen proof of your income, debts and other financial factors as this is the most secure.

A home loan pre-approval usually lasts between 3 and 6 months, so it means you have a firm budget in mind when you’re out there looking for the property you want to buy. It also puts you in a better position to negotiate on price, and is essential if you’re thinking about buying at auction.

Once you’ve actually found the home you want to purchase, your lender will want to know if there is anything major that has changed in that time, like changing jobs.

Step 5: Make an offer and buy the house

So, you’ve found the home you want to buy – yay! It’s now time to make an offer and hopefully have it accepted by the seller. One of the best recommendations at this stage is to get a pre-purchase pest and building inspection which can cost upwards of $500. I know it sounds pricey, but it is a good investment and could save you thousands of dollars in the long run.

Once you have your building and pest inspection done, it’s time to dust off those negotiating skills and secure your house at a price you can afford (enter pre-approval!)

Step 6: Sign and exchange contracts

Once the offer is accepted, contracts are signed and exchanged. This is usually the time to get your final mortgage approval, and organise your side of the deal. This is also the step in which you will pay your deposit on the property. The majority of people hire a solicitor / conveyancer to handle the transfer for the property and organise settlement directly with the lender, according to the settlement date on the contract of sale. Once the settlement is complete, your solicitor will need to transfer the name of the property from the seller to yourself (the buyer).

Step 7: Cooling off

You have a few days cooling off period in case you change your mind and back out of the purchase. This period is designed to give the buyer the opportunity to get any further inspections done on the property and calmly make sure their decision to purchase the property was the right one. If you back out, you may lose some of your deposit. If you have bought at auction though, you won’t have the option – auction purchases are final!

Each state varies on it’s cooling off period time frames, so it’s important to check with the real estate agent or your conveyancer.

Step 8: Settlement

This is the fun part – settlement is when the keys are handed over and you officially become the owner of the property! Settlement usually occurs four to six weeks after the exchange of contracts, and is when the balance of the purchase price is paid to the seller. You are entitled to inspect the property before settlement to make sure the property is still in the same condition as when you purchased it and there have been no major changes to it since.

Now’s the time to cue the celebration and start organising the house warming, you have officially purchased your first home. Congrats!

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Source by Lisa S

Best East Village Condo – Downtown San Diego

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The East Village of San Diego is becoming one of the hottest neighborhoods in Southern California to live. The East Village has seen a tremendous amount of private and public improvements in the past eight years. The biggest public improvement has been the addition of the Padres baseball stadium, know as Petco Park. The next big public improvement project planned is the new library.

On the private sector side, most of the new projects have been high rise condos, plus some new office buildings and lots of retail spaces. There were too many new condo projects built to list here and many more are planned. However, at this point (Spring 2008) all of the proposed condo projects have been put on hold for various financing and marketability reasons.

Let me share some of my thoughts on what I think are the best condo buildings in the East Village neighborhood of Downtown San Diego. In alphabetical order, there are lots of residential choices for condo buyers; 777 Lofts, Alta condos, Diamond Terrace condos, Element condos, Fahrenheit lofts, ICON condos & lofts, Legend condos, M2i lofts, Mark condos, Metrome condos, Metropolitan condos, Nexus condos, Park Boulevard East & West condos, Parkloft lofts, Row Homes on F Street, and Union Square condos.

I have my opinions but first let me share with you the opinions of the residents living in these condos, based on my survey results. According to the residents living in the above condos, The Metropolitan condos are the clear winner, with a rating of 4.5 stars. In fact, the Metropolitan condominium is downtown highest rated condo building, all neighborhoods included. The Metropolitan is unique in several ways, its 40 condos atop the Omni hotel. Residents of the Metropolitan condos can have room service and maid service from the hotel staff if desired. No other building offers that luxury. Also every unit in the Metropolitan condominium building is a corner unit, all have great views.

The next highest rated residential building in the East Village of San Diego is Parkloft. Parkloft is just that a building of lofts across the street from Petco Park. Of all the true loft buildings in downtown Parkloft is the best, from the construction to the amenities its a step above the rest.

Three recently completed condo buildings in downtown East Village Neighborhood are Alta condos, Legend condos, and The Mark condos. Each of these are top quality building with a slightly different appeal. Alta is the most modern design inside and out, plus it has a low HOA fee for a highrise. The Legend condos are very contemporary with a mass appeal interior design. Its developer BOSA has built more condos than anyone else in San Diego and have a great reputation. The Legend condos were built right inside Petco Park. The only condo built inside a baseball park anywhere. It has a great 7th floor common area deck for watching the ball games or just relaxing in a chase lounge by one of the fire pits. Finally the Mark condos is a stunning masterpiece of glass and stainless steel, designed from the outside in. Its a full service (amenity) building with great views and a phenomenal penthouse that is currently available for sale for I believe $10,000,000.

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Source by Mark Mills

Top 8 Online Side Hustle Ideas To Generate Extra Cash Every Month

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Generating an extra $500 to $1000 a month may seem impossible right now. But in this article, I’m going to show you different online side hustle ideas that have the potential to be highly profitable. Let’s begin!

1. Blogging

You may not see an immediate ROI or return on investment on blogging, but the good thing is it’s pretty much passive income when you start getting some traction. The sky’s pretty much the limit when you think of the income you’ll get when your blog gets a good amount of traffic from search engines and social media!

2. Affiliate marketing

You can promote your affiliate links on your blog or your social media accounts. Just make sure you promote something that’s going to actually add value to your followers.

3. Video marketing

You can promote sponsored products via video marketing. You can do video reviews and tutorials on YouTube and monetize it with ads and affiliate links!

4. Social media influencer

When you’ve got a considerable following on social media, and you get pretty good engagement rates on your content, then you’re technically a influencer. You can easily command premium rates from brands who want to do business with you.

5. Social media manager

Not all businesses know what to do with their social media accounts.You will have the opportunity to make a significant impact on businesses. The great thing is you can have many different clients at the same time because it’s relatively easy to automate social media activity!

6. Sell information products

Selling eCourses and eBooks are very popular nowadays. It’s relatively easy to create content like these, and it’s easier to just outsource it to freelancers who can write faster and better than you.

7. Freelance work

If you’re interested in freelancing online – like writing, designing, building apps and websites, etc. – then you should check out sites like Upwork ( https://www.upwork.com ) and Freelancer ( https://www.freelancer.com ). Note, however, that these are global marketplaces. So, you’ll have people from all over the world competing on price and skill. If you want to set yourself apart from the competition and you’re extremely confident in your skills, then don’t be afraid to bid rates you know you deserve!

8. eBay business

eBay is actually a fantastic tool for making money and which presents a ton of different options. If you’re looking for a more traditional way to make money by selling products, then eBay is the perfect choice.

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Makler Heidelberg

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Source by Lehlohonolo Mofokeng

5 Tips to Sell Your Home Fast

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Staging a home for sale used to be considered a luxury. Now, many real estate agents consider it a necessity. The continuing slump in housing has given buyers plenty of options – making it increasingly important to have your house looking its most dapper.

1. Screen appeal trumps curb appeal: Nearly 90 percent of homebuyers now research homes online, according to realty industry research. So it’s important that the house be staged and looking its best before the photos are taken to post online.

2. Look outside in: A buyer first sees what’s outside your house, not in. Freshly cut grass, manicured shrubs, swept sidewalks and a power-washed driveway look inviting; sick or dead potted plants don’t.

3. Clutter kills: Go through every room in your house and decide which belongings you’ll need in the next six months and which you won’t. Get rid of the second pile – in the trash or in storage.

4. Nothing personal: Remove all photos, degrees and other personal effects. The buyers want to imagine themselves living there and too many reminders of your family can make them almost feel like they’re invading someone’s home. And that’s a sales turn-off.

5. Know your audience: The best home stagers research the types of people who buy houses in your neighborhood and adjust the house to suit that demographic. If most buyers are families with kids, keep all the bedrooms as bedrooms. If more singles are looking to move in, consider staging one of the bedrooms as an office or home gym.

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Source by Shelly Towns

How to Influence an Appraiser to Give You Maximum Home Value

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New appraisal rules called Home Valuation Code of Conduct (HVCC) came into effect on May 31, 2009. They are meant for loans that will eventually be sold to Fannie Mae or Freddie Mac. It clearly states that your lender can not influence the appraisal on your home. What these new rules do not say is that you or your realtor can’t talk to the appraiser.

1. Always be at your home when the appraiser comes. Your real estate agent should also present. A real estate agent will be able to support the asking price/offer with a list of comparable home prices. Lenders now want to see not only what has sold, but also what is currently on the market on the appraisal report.

2. Talk to the appraiser to find out how much they know about the neighborhood. If your neighborhood has special features that you feel increase the value of your property, let them know. Have a list of the location of local schools, shopping, parks and public transit ready to give them. If they see that these are nearby, it helps prop up your home value.

3. Find out whether they are aware of the latest sales in the neighborhood. It doesn’t hurt to ask if they had seen the property previous to its sale. If you know what the homes looked like, give your opinion. You want to make sure they are going to list property values that are comparable to your home on their report.

4. Make a list of all the improvements you have made to the home and go over each item with the appraiser. Have a copy available to give the appraiser. If necessary, also have copies of the receipts in case they have doubts about certain items. They won’t see all the money you spent on improvements unless you point each one out to them.

5. If you have a maintenance schedule that you follow, give it to them to show that you have not let the house get run down. This simple thing could give the appraiser justification when coming up with a higher property value.

By being able to talk to the appraiser it is now up to you to influence final property value for your home. If you are prepared ahead of time with all the documentation listed above, it will help you get the maximum value for your home.

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Source by Russie Weidl

The Pros and Cons of Real Estate Short Sales

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When it comes to real estate in the Phoenix Arizona area, many who are facing foreclosure decide to learn more about short sales, and how they work. No one wants to lose their home, but when financial worries are steadily increasing due to the economy, sometimes we feel we have no choice. This article will give you a clearer picture of the process, so that you may make an informed decision.

When it comes to short sales, you should speak with your real estate agent who will help you with any questions or concerns you may have. You know that foreclosing on a home will ruin your credit, and cause you embarrassment. Add to that the fact that you most likely will not be able to purchase another home for several years, and it simply is not an attractive option.

Here are some of the pros and cons of short sales:

Pros

You can purchase another home in only two years, instead of waiting five years. This is probably the biggest motivating factor for most people when choosing a short sale.

Your credit won’t be as badly damaged.

You may avoid the embarrassment and stress of the process for you and your family. A short sale as opposed to a foreclosure can also help your neighbors. One less foreclosure in the neighborhood will help the community.

Cons

Sometimes there may be a lengthy wait for the bank to respond to the offer.

There may be many potential buyers taking a tour through your home to see if it is something they are interested in, so keeping your house straightened and cleaned constantly may be a chore.

Although it most likely won’t be a problem, there is no guarantee that the lender will accept the buyer’s offer.

The paperwork can be frustrating. The bank will ask you for personal records, other bank accounts, assets and liabilities, etc. This is done in order to prove your hardship, and additionally they may want a hardship letter in writing from you.

If you don’t mind a little extra work, this may be a way for you to avoid foreclosure and all of the nasty things that come with it. Money worries are a huge concern recently, and many are facing the possibility of losing their homes. Before you make a final decision, speak with a reputable certified distress property Phoenix realtor about how short sales may be the best option for you.

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Makler Heidelberg

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Source by Maureen Karpinski

The Short Sale Process

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In today’s real estate market, investors have many discount properties at their possession. Everywhere you turn there is another property up for sale. Some of those properties can not be sold because of price. A lot of those homeowners must sell at the prices they are asking because they either paid too much for the house when they bought it, or they refinanced their equity out of their home. To add on to that problem, a lot of those homeowners took on an adjustable rate mortgage or an ARM. An ARM is a mortgage loan where the interest rate adjusts based on the market indexes.

Some of them even took on interest only loans. An interest only loan is a loan where a homeowner doesn’t pay down the principle on their home. They are only paying the interest. But you can pay principle too if you send the bank extra money stating that it should go toward the principle only. Most of these types of loans usually come with a balloon payment. Having a balloon payment means that your loan is due in full at the end of the balloon term.

Now that the ARM is kicking in (I didn’t know that arms can kick… lol) or the balloon payment is coming due, those homeowners cannot afford to keep paying on an adjustable rate mortgage. And they most certainly can not come up with the money to pay the mortgage in full. So what do they do? Well they have two options, they can take a chance at refinancing their property or they can sell through a short sale.

Most people will not be able to refinance their home in today’s real estate market because banks are not as lenient as they were a year or two ago. So that leaves them the option of doing a short sale on their home.

A short sale comes about when a lender is willing to take less for a home than the amount due. Lenders will usually do a short sale if it is more beneficial than going through the foreclosure process. Short sales are less expensive for the lender than going through foreclosure as well. Usually, lenders will allow a short sale to take place in the pre-foreclosure stage.

The following is a list of things that you will need to do in order to have a successful short sale transaction:

  • Call the lender and ask to speak to the supervisor or the person in charge of the short sale. Make sure you keep their contact information because they will be the decision maker in the transaction.
  • Get a letter of authorization to release the loan information from the homeowner. This will give you permission to discuss the loan with the bank on the homeowner’s behalf.
  • You will need a purchase agreement
  • You will need an escrow letter
  • You will need to get a 1099 for the home owner, a hardship letter which explains why the seller must sell, pay stubs, w-2’s, a credit report, and bank statements
  • You will also need a financial worksheet or a preliminary HUD sheet. This will help the lender get an idea of what to expect at the closing table.
  • Last but not least, you will need comps for the property

Doing a short sale can help a seller to save their credit. They won’t have a foreclosure on their credit which keeps them in good standing. This is huge when your buying short sale properties because it is a way to help the seller and create a win- win situation. Consider doing short sales in this market and you will have much success.

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Makler Heidelberg

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Source by Jamel Gibbs

Short Sales – What’s Negotiable?

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The answer:  Everything!

Have you ever heard the saying “Everything’s for sale!”  This statement is usually used when people say “I’d never sell it” or something along those lines.  But truly, for the right price, EVERYTHING is for sale.

So you just love that new chair you bought?  You’d never sell it?  How about if someone offered you $100,000?  I’m not saying they would but that’s not the point.  Everything is for sale!  Just like Everything is Negotiable!

If you have two parties in any sort of contract and they both agree then you have a negotiation.  So in short sales, everything is negotiable.   Some deals may be easier to negotiate than others but eventually everything becomes a negotiation.

When you really sit and think about it, isn’t a short sale really sort of the same as bargaining at a garage sale?  I am going to make probably the first comparison in history utilizing a weed whacker and a piece of real estate….(If you don’t know what a weed whacker is, it’s one of those electronic or gas powered garden tools with a piece of string attached at the bottom and it spins at some ridiculously high rate of speed and makes mulch out of any weeds, dandelions, or people’s toes in its path)

YEAR PURCHASED AND PRICE PAID

Weed Whacker:  2005  – $100.00

House:  2004 – $525,000

CURRENT CONDITION & VALUE

Weed Whacker:  Good – $25.00

House:  Good – $315,000

LOSS IN VALUE

Weed Whacker:  75%

House:  40%

FOR SALE PRICE

Lawn Tool:  $25.00

Property:  $320,000

BUYERS OFFER

Weed Whacker:  $15.00

House:  $300,000

SELLERS COUNTER

Weed Whacker:  $20.00

House:  $310,000

FINAL NEGOTIATED PRICE

Weed Whacker:  $20.00

House:  $310,000

Now take a look at that example and you’ll understand a little about why short sales make sense for everyone involved.  Is it really all that  ridiculous to try and compare a weedwhacker at a garage sale and a short sale on a home?  Both were purchased a price you would never get today, both lost a lot of value, both were listed for sale at or about market value, both got offers from buyer’s looking for a deal, both were countered, and the sale was finally negotiated.

All it took was for a buyer & a seller to come to an agreement and the deal was consummated.

Remember this:  EVERYTHING CAN BE NEGOTIATED!

Immobilienmakler Heidelberg

Makler Heidelberg

Immobilienmakler Heidelberg
Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
Wir verkaufen für Verkäufer zu 100% kostenfrei
Schnell, zuverlässig und kompetent


Source by Sean Bonini

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