Posts Tagged ‘Control’

During this credit crunch time, “I want to sell my house” is the cry of many a householder for various reasons. Whether your wanting to move to a bigger, or smaller house, if you’re relocating, or if you have mortgage arrears that are spiraling our of control, selling your house is going to be a major part of seeing your goal realized.

Having spoken with a number of estate agents and property buyers, including estate agents in London, here are the main points you want to consider when its time to sell your house:

1. Determine where you want to go. What’s you’re ultimate goal in selling the house? What will you achieve by selling the house? It always helps to write this down and have it in a prominent position in your home, so you are reminded of your goal. Determining what this goal is will also help you decide how much you need from the house sale to achieve your goal. “Sell my house for the highest price I can get ” is not really a goal because even if you get the highest price for the property, will that help you achieve your goal? How much do you really need from the sale of the house?

2. Get your house valued. This will help you determine How much you can reasonably expect from the sale of your house in the current climate. In this current “credit crunch” environment get 4 maybe even 5 estate agent valuations. This is because house values can fluctuate with each agent, so you want to get a good idea of the average price you can expect to sell at. Do your own research by talking to your neighours, either those who are selling, or those who have moved into your immediate area, and ask them what value was placed on their house.

3. Determine the right estate agent to work with. You need to work with an estate agent who is going to be proactive in selling your house. He or she will need to be looking for people who want to buy houses like yours, and this will mean you discussing your requirements with them. If the estate agent knows what you need to achieve, he can try to find buyers that meet that criteria.

4. Make your house presentable! First impressions are key to a succesful house sale. You may need to spend some money in making your house “look nice” for a potential buyer, but you should certainly make the effort in terms of “elbow grease”. This will include giving some areas a lick of paint to make areas more clean looking, decluttering flat surfaces like shelves and cupboards, and ensuring that each room has an air of spaciousness about it. Give high priority to your front garden or balcony, if you have one. Even before a prospective buyer sets foot over the threshold of you door, they will have made a buying decision based on the impression given at the front of your property. Probably the best way to prepare is to go around the house, making a list of all the things that would turn you off buying the house. Then plan for a seven to ten day clean up, dealing with all the areas that you can manage. This will make a significant improvement on your ability to sell your house, and the price that you will get for it.

5. No Offer is a silly Offer! Even if the offer is below market value, once it actually meets your own criteria in terms of what you need, then you’re a winner! Unfortunately, the market is shrinking all the time, and so are property prices with it. This means, If you know what you need from the sale of your house, and you achieve it, then you are in a better position than some who are holding out for as much as they can get, yet seeing that amount dwindle away on a daily basis.

Colin Baptiste has a keen interest in property investment in the UK. Many people in todays credit crunch are asking how do I sell my house in this current market? Visit his site and get a Free Report on selling your house

Author: Colin Baptiste
Article Source: EzineArticles.com
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If you are seriously in the market for buying a home – congratulations! If this is your first time home buying journey, let me offer up three key elements you must know before you sign that contract. I would call these very important “Must do’s” for you:

1) You must know “how much” home you can afford to buy.

Whether you are buying a new home or existing one – it really does not matter in this area – you must know how much home you can buy. Remember this – the biggest mistake first time home buyers make is looking at, or worse, purchasing too much home. Therefore, I highly recommend you get yourself “pre-qualified” with a mortgage professional first. If you are already looking at homes – that’s o.k. – just meet with a lender at your next earliest convenience.

Since this is your first time looking for a house, you probably don’t have a mortgage person selected. I highly recommend networking with your local friends who have bought a home recently. Personal referrals in a local market are the best method to select a loan officer.

2) You must not let your realtor control you.

If you’re buying a home, chances are you’re using a realtor. I’ve worked with hundreds and hundreds of realtors over the past 20+ years.

Let me make two points about realtors:

• The majority of all realtors I’ve ever worked with have been professional and ethical.
• Realtors make a living by selling homes. What separates the pros from the amateur realtors is their ability to get you to buy a home quickly.

The rub here for you making your first time home buying trip is you must stay in control of the situation with the realtor – whatever that situation is. If you need to look at more homes – let the realtor know that. If you can’t stand a home – speak up and let them know. The realtor’s motivation is to sell you a home – the quicker the better. If they can control the situation – they can more easily sell you a home. I’m not saying the realtor is not there to help, but I am saying they want to get you in a home quickly.

Don’t be bashful about asking the realtor for first time home buying tips. See what they know – pick their brain. If you get the feeling they really have no clue about the market – move on to another realtor – and quickly!

3) Get yourself a home buying checklist.

The No. 1 first time home buying tip I can give you after knowing how much home you can buy, and making sure you are in control of your home-buying experience – is to get organized with a checklist. The checklist I recommend on my home-buying blog is actually a freebie produced by the Department of Housing and Urban Development – or HUD. Get one and use it.

Buying a home is an exciting time, and buying a first home is not only exciting, but new (and stressful). The more you can control your elements, learn as you go and not get in a hurry – the greater your odds that the home buying experience will be a great – and financially smart one – for your family.

Kent Faver is a certified real estate appraiser and has been helping people buy homes for over 22 years. He provides critical home buying tips daily at http://www.buyhomeblog.com

Author: Kent Faver
Article Source: EzineArticles.com
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There are several methods for selling your house, with advantages and disadvantages to each. How fast you will sell your house is dependent on how many other houses are on the market; the current desirability of your neighborhood; the price you are advertising compared to the others on the market; and how your house compares in size, condition, and amenities to the other houses on the market.

There are four methods you can use to sell your house. The first is to employ the services of a real estate agent. They are trained professionals who will assist you in finding a buyer, and will help you with various steps along the way. They charge a commission based on a percentage (usually between 5% – 7%) of the sales price.

You can also go for the For Sale By Owner (FSBO) route and save the commissions that are charged. When you choose this method, you do the marketing and advertising of your home to find a buyer. You are in control throughout the whole process. It will be up to you to handle the incoming phone calls; schedule the showings; “sell” the house; negotiate the terms of your agreement; and complete a Purchase and Sales Agreement.

A variation of the FSBO is to use a flat fee listing company like BuyOwner.com which will charge you a flat rate fee to help you market your house to find a buyer. They provide marketing tools and some training on how to locate a buyer and negotiate a deal. The difference between them and a real estate agent is that they show you what to do, and you do it. The agent, on the other hand, handles everything for you.

The final method is to sell directly to a real estate investor. These are individuals in your community who are looking to buy homes on a regular basis. You contact them, tell them about your house; and if they are interested, they will make an offer to purchase your home very quickly.

Advantages and Disadvantages

Each of these methods has advantages and disadvantages to you based on how much you want to pocket yourself from the sale, how much work you want to do yourself, your knowledge of the home selling process, how quickly you need to sell, and the current condition of your home. No one can make this decision for you. It is a personal decision. You have to think about what you need and want at this point in your life and make the best decision for you. The difference is what you want from the whole experience. With that in mind, let’s explore the advantages and did advantages of each of these methods so you can make the decision for you based on your current situation.

Real Estate Agents
The biggest advantage of using a real estate agent that they handle the marketing and sales process for you, and you only have to pay them if they find a buyer. They will advertise your home in the Multiple Listing Service (MLS) which is the service that other realtors review when their clients are looking to buy a house. You home has immediate exposure to all the buyers’ agents. A good agent will also look for other ways to market your house. They will do open houses, place ads in “homes for sale” magazines, and invite agents from other offices to preview your home. And since they provide a lockbox on your door, you do not have to be home for agents to be able to show your house. When an offer comes in, they will help you with the negotiations, and they will follow up on all steps required to get you to the closing table.

The disadvantage of using an agent is that you pay a commission on the sale of the house. As I said earlier, this can amount to 5% – 7% of the sales price of the house. So on a $100,000 sales price, you would pay them between $5,000 – $7,000 for their services. Since they are not paid unless they sell the house, many agents will not spend any additional money to market your house. They are afraid that they may not sell your house, and so they will never get back the money they spent. My question for agents with that attitude is: “If you aren’t sure you can sell my house, why would I want to list with you?”

Which leads to another disadvantage: since the agent works off of commission, if your house it not “easy” to sell, they will often just list it on the MLS, but do little else to promote it in the marketplace. You should also be aware that some agents use a concept of listing as many houses as possible with the idea that some will sell, and some will not. They’ll make their money of whichever ones sell. That’s fine for them. But if your home is not one of the houses that happens to sell, it could sit on the market for a long time with no one working to locate a buyer.

Finally, real estate agents lock you into a listing contract for a specified period of time which prevents you from selling the house yourself without paying them a commission. This works fine when they quickly bring you a buyer, but if the process is delayed, it can be very frustrating not to be able to take matters into your own hands and locate a buyer yourself.

Selling Your House Yourself
If you decide to go the FSBO (for sale by owner) route, you retain full control of the process, and you save the 5% – 7% commission. You can invest your money into marketing to advertise your house by running ads in the paper or in real estate for sale magazines. You decide who enters your home, and when.

The challenge of FSBO is being able to get the information about your house sale in front of enough people quickly to get it sold. Also, everything is left up to you. You will also need to be available to show the house, negotiate the terms of the sale, and complete a Purchase and Sales Agreement with your Buyer. Be sure to consistently follow-up on the status of their loan application so you have no surprises and no delays before closing.

Flat Fee Listing Services
Flat Fee Listing Services such as BuyOwner.com offer that half way point between the real estate agent and selling the house yourself. They offer some marketing for you, show you ways to market your property, and show you how to walk through the negotiating and contract phase with your potential buyers.

The down side is that there is an up-front cost associated with this service, and no guarantee that you will find a buyer. After going this route, you may still find that you need to contract a real estate agent which means that you will pay for both this service and the agent’s services.

Real Estate Investors
All of the methods for selling your house that we have discussed so far depend on locating a buyer for your house. When you contact a Real Estate Investor, you are dealing directly with someone who wants to buy your house – not list it for sale. If you are looking for a very quick sale, or if your house is not in prime condition, this is often your best alternative. Once you call an investor, they will ask you about your house, the repairs that are needed, your current situation, and why you are selling your home. They’ll use that information to create an offer that works both for you and for them. Generally, they will close (buy your house) as quickly as you need, or stretch out the closing date if you need additional time.

The biggest advantage is that you are dealing with a buyer, so once you come to an agreement, your house is as good as sold. All you need to do is start packing. You don’t need to worry about if and when the house is going to sell. You won’t have a bunch of strangers walking through your house at unpredictable times. And you’ll have no repairs to make since an investor will buy house in its current condition.

They have all of the necessary forms and will handle everything for you. You just need to show up to collect your money.

If you decide to work with a real estate investor, you’ll want to find one who is concerned with your situation and is looking for a way to structure the sale so you both get what you want. Unfortunately, not every investor is created equal. A good investor has numerous techniques for buying your house, and can create flexible programs that meet your needs.

Which Is The Best Method

The best method is different for different people in different situations. When you want to sell a house that is in good condition in a desirable area, and you have the time to wait for a buyer, then any of the first three methods will work for you. If the sales and marketing process scares you, then you should turn it over to a real estate agent to handle the process for you.
If you want to save he commission, and do not mind advertising to find buyers and feel comfortable with the sales process, then you should try the FSBO method. If you need a little help the fee-based companies like BuyOwners.com may be your best bet. You pay a fee up front, but they help you with the marketing and sales process. And you will save money.

If, however, your house is in poor condition and needs a lot of repairs; or if you just need to sell quickly with no hassles and no bother, then a real estate investor is your best bet. And remember, it costs nothing to call them out to give you an offer on your home.

Steve Teta is the owner and Founder of STS Real Estate Solutions, LLC and is an active real estate investor and wholesaler. To receive more information and your FREE report entitled “How To Buy A Wholesale Deal Without Taking A Bath” go to: http://www.stswholesaledeals.com

Author: Steve Teta
Article Source: EzineArticles.com
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