Posts Tagged ‘escrow’

Don’t let people tell you that selling a house, especially quickly, is an easy thing. There is a process involved to sell your house. Wouldn’t it be nice if all we had to do was 1) publish our house, 2) meet a potential buyer, 3) negotiate, 4) sell the house? But as most of us know, it doesn’t work that way.

We have prepared a checklist to sell your house. Now, by following this checklist, there are no guarantees, but it should make it easier to sell your house, and more quickly too.

A) Do you want to have an agent to sell your house or would you rather do it yourself? Sure, there are fees and commissions involved if you use an agent, but you may decide it’s worth it. An agent will carry out all the business of your home in correlation of your checklist. But, it you decide you want to do it yourself, it will cost you effort and time, but it will save you money.

B) Be an informed seller and you will have to communicate. This is all correlated with your promotion strategy. Don’t forget to use the media, such as the newspaper, pamphlet, and one of the biggies in today’s society–the web, the Internet.

C) Have you done preparations on the house itself? Don’t forget this, or else your house will have a tough time selling and will not sell quickly. How’s the house’s exterior and interior. Does it need repairing or painting? How are the appliances in the home? You might have to decide if you are going to pay a professional to do pre-listing house inspection of not.

D) You might have to sell you unnecessary furniture or appliances.

E) Now comes the big one that one’s don’t want to face sometimes: Getting familiar with financing terms, like mortgage financing.What is fixed, adjustable, seller financing, assumable loans, pre-qualified, pre-approved, commitment, escrow, etc.

F) Another one that people sometimes hates: Negotiation. Are you up-to-speed on contract, offer, deal, etc. You should learn how to do offer approaching and the legal transaction process.

G) Learn to know what you can improve or can’t improve in your house. You can improve interior, exterior, etc, but you cannot improve the location of the house, or the style of the house, etc.

H) Will you be providing a home warranty to your house?

I) Have you decided what you will do at the closing and settlement to the buyer?

J) Lastly, have you made moving plans?

Hopefully, this checklist will provide some help for you to sell your house, and quickly too, but as you can see, there are several things you need to consider when selling your house. Now, if you decide to pay a realty agent to organize all these things, just let them carry it out, and your involvement in this home selling process will decrease.

If you really want to sell your house quickly, then you want to go to my website at http://quicklysellyourhouses.weebly.com/. You’ll learn more about selling houses quickly, maybe in as little as 21 days.

Author: V Price
Article Source: EzineArticles.com
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The sell your home in 5 days method was started by Bill Effros sometime in the late 80s, I believe. He is the author of How To Sell Your Home in 5 Days. Since then there have been all kinds of selling systems that are basically different versions of what Mr. Efros talks about in his book. After reviewing the book, while very good, it has a lack of creative marketing strategies to get more people to your open house.

Bills book covers nearly everything. The major two things he leaves out that will help you sell a house fast using this strategy are staging techniques for your exact buyer and creative marketing techniques that don’t cost you a penny. I have reviewed over 6 websites that cover how to sell your home in 5 days. If you would like more information on the site I recommend please go to the bottom of this article.

Here’s An Overview of How the Sell Your Home in 5 Days Method works.

Day 1 – Wednesday – Run an ad in your local paper or the internet and offer your home for 70% of what you think its worth. Allow the ad to continue running through till Sunday.

Days 2 & 3 – Thursday and Friday – if you don’t get 25 responses by Friday night, you’ve set your price too high. (Cancel the sale and start over)

Day 4 – Saturday – Show your home. Allow buyers to leave bids.

Day 5 – Sunday – Continue showing your home until 5 pm. Starting at 7 pm call all buyers who left bids to determine who will pay the most for your home. By 8:30 pm Sunday night you will have received an offer from a qualified buyer for the most money any active buyer is willing to pay for your home on the date you have offered it for sale.

Day 6 – Monday – contact your closing agent/closing attorney or escrow office, who will help you close the deal on your home.

When You use the 5 Day Method: – There is no risk – (besides being out your marketing money – but if you use a different sell your home in 5 days strategy we can show you how to have all your marketing paid for, you can go to the website we recommend below). – You will make more money selling your house this way – You can pick the exact date of your sale – You can do it yourself, no agent, no auctioneer When you are trying to sell a home, what you are really trying to do is find the buyer who is willing to pay the most money, right? There are always a substantial number of potential buyers willing to pay less, and they are much easier to find. But the one you are looking for is the one who is willing to pay the most.

In the United States, most people think they can find the buyer willing to pay the most by offering their home for more than anyone will pay, and simply wait for that buyer to come along. This strategy doesn’t work. Using the traditional method, most sellers will eventually reduce their price, never knowing there were buyers who were willing to pay what the seller was hoping to get.

The traditional home selling method is extremely inefficient. What makes the Sell Your Home in 5 days Auction method work so well is that you will find the the highest price a person will pay with the help of a little competition from other bidders. The 5 day method is designed to obtain multiple bids. The seller then selects the most desirable bid through a round robin bidding process that in some ways resembles an Auction but does not require the seller to develop the skills of an auctioneer. All bidders bid by telephone from their own homes.

TIP: You may want to use this strategy if you need to sell your house very quickly or as a last effort from after trying other marketing strategies. You should ask yourself these questions if your considering this strategy. Do you have any equity in your house or is it fully leveraged…? If you sold your house at X price, what’s your bottom-line acceptable price..? If You can’t sell in the price range you want will you keep the house, rent it or try a different strategy to sell..? Will you only accept all cash in a straight sale or will you offer favorable terms (owner financing)..? If you have little or no equity you’ll have to either sell it close to what you owe or higher or come out of pocket. If its a situation where your owe more than your house is worth, a short sale or loan modification might be in order.

The website we recommend to learn the Sell Your Home in 5 Days method can be found at our blog at http://www.SaveMoneySellFSBO.com/blog/sell-your-home-in-5-days-recommendation

Author: Curt Nelson
Article Source: EzineArticles.com
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I am in escrow on some property in which the seller and his real estate agent were not very forthcoming in their disclosure statements. Through a third party I found out some things about the property that are detriments (such as occassional flooding) but I am willing to overlook them and still purchase the property. I have released all my contingencies and we have a close date set.

My real estate agent happened to tell the seller’s real estate agent that we found out some of these things on the property – most importantly about the flooding – and now the selling real estate agent wants me to sign a bunch of documents listing out what I found out as if she had told me about them. I don’t want to do it – it took considerable effort for me to uncover these issues and I have already signed off on contingencies. I don’t think I need to also let her off the hook as if she had disclosed these things to me – she did not. Can the realtor force me to sign these?
I am asking if a real estate agent can legally force me to sign informal and misleading documents in order to progress with the purchase? The seller and I have already signed all legal documents as outlined in our legal contract.

renting it for what the mortgage is. cant rent it for any more, well they just told me 1yr later that the house is worth 580,000 and so there raised prop taxes. i cant afford to pay them. so im gonna sell in June. WILL THE CITY WAIT FOR THERE MONEY TILL HOUSE SELLS OR WILL THEY MAKE FORECLOSE.

Answer:
If you purchased the property from a parent, grand-parent, your child, or a sibling you can file a form with the county tax assessor and the property will not be reassessed, but kept at the same old assessment value. Whenever a property is sold the property will be reassessed to the current value, other than the exception stated above. In California because of Prop 13 a property assessed value can’t be raised more the 2% a year from your sales price and/or the fair market price when you purchased it. CALIFORNIA WILL NOT MAKE A PAYMENT PLAN WITH YOU. If you don’t pay the tax bill it takes four years before the state sells the property, however your lender will foreclose on you way before that time for the unpaid taxes. If you are selling within the next 6 months all will happen is at the closing of the escrow all the back taxes and penalties will be deducted from your proceeds of the sale.