Posts Tagged ‘lenders’

With the current buying and selling market operating at it’s lowest ever levels, securing a quick sale is a really tough challenge. If you are desperate to sell your home quickly, you need someone who has the cash to buy your home and nothing to sell. This could be a cash buyer who has already organised a mortgage, or literally has the cash available to buy your property outright.

To find someone that can do this, you need to speak to all the estate agents locally to find out if they have anyone in this position who is looking for a property like yours. If your property is already up for sale with an estate agent, check your contract and approach them first to say you are desperate to sell and ask if they can liaise or mind you liaising with other agents to find out if the buyer you need is out there. Bear in mind however that to secure a quick sale you are likely to have to offer buyers a better price than other similar properties on the market.

Another way to secure a sale on your own property if you are buying too, is to consider buying a new build from a company that will offer to buy yours in return. In some cases you may have to ‘trade up’ by 30% or more, so for example if you are selling a property for £150,000 you’ll need to buy a new build for around £195,000. However, as developers are desperate to sell at the moment, it’s always worth checking what their current policy is. The only problem with buying a new build currently, is the lack of support from lenders as new builds are typically priced higher than a second hand home, so lenders are requiring anything between 15% and 40% deposit, which is not always in everyone’s reach.

You can also look at selling to a property investor or a company that buys property ‘for cash’. However be warned, you are likely to have to discount your property by at least 15% and in some cases more to secure a deal. The difficulty at the moment is that trying to work out how much a property is worth isn’t easy as so few properties are selling, it’s hard to find accurate comparables. If you are looking to find a company to purchase your property at a discount, but fast, then it’s important you follow our ‘check the buyer out’ guide:-

Independent guide to a ‘Quick Sale’

1. Always secure an independent valuation from a surveyor that you pay, it will cost around £150. If you can’t afford to pay for one, find a local estate agent that is also a surveying practice. But the £150 you pay could mean you get thousands more for your property, so it’s a worthwhile investment.

2. Check out the company/person that you are looking to sell to. Go on-line, check with local agents. They might be able to sell your property for more than you are being offered.

3. If you are looking at a ‘sale and leaseback’ where you sell your home and rent it back, then make sure you can rent it for as long as you like. Look out for clauses that say how the landlord can terminate the agreement and how they can increase the rent. Ideally get this checked by a lettings legal expert.

4. Check how much similar properties have sold for yourself, go on-line to house price data and pop in your postcode and you’ll see what other properties have sold for locally.

5. Always check if there is an alternative option to selling your home.  Could you take in a lodger and earn £4,250 or reduce your mortgage payments?

Can Designs on Property help? Why not consider joining as a member so we can support and help you through your difficult selling time and more importantly let us do an independent ‘desktop’ valuation for you if you haven’t had a survey done, to check out any valuation that a cash buyer/investor has given you. It costs just £65 or if you join, you’ll get a special price which will save your membership fee.

Desperate to sell? For more information visit our selling a home section where you can download our Selling a Property eBook and refer to our Property Valuation Services.

http://www.designsonproperty.co.uk/

Author: Kate Faulkner
Article Source: EzineArticles.com
Smiling shark

People like to invest in real estate as the return on the investment is usually high and if adequate precaution is taken, guaranteed to be highly profitable business. When investors take the time to enroll in real estate investing education classes they are sure to learn how to deal with problems better, learn innovative techniques to make profits and know about the various areas of real estate investing where the returns are high such as tax certificates and using notes to buy property etc.

Advantages of Real Estate Investing Education:
The institutes that offer education in real estate investing help students who enroll learn what techniques to use to improve in their chosen area of real estate investing. These schools teach the students to recognize what they desire to achieve, help them plan and set goals, teach them what procedures to use in order to achieve their goals. These schools would teach the students to ensure all the deals they make are reviewed by experienced staff, who will point out the mistakes made and guide them as to what would have been the best strategy in the given situation. These courses are usually short term lasting for 3 to 6 months.

The student investor on successful completion of the course will have the confidence to meet any challenges that may come his way. The schools will also help the students get to know reliable bankers, attorneys, lenders, builders, etc. who will help the student investor build his investing career successfully.

Specialized Schools:
There are specialized schools for different sectors of real estate such as schools for commercial real estate investing, making it possible for investors to attend and improve their skills in specific areas of real estate. The commercial real estate education institutes teach students how to make accurate financial, market and investment analysis etc. where by even experienced investors may learn the latest techniques.

Real Estate Investing Education Online:
Some real estate investing educational institutes offer e-learning courses that make it even easier to learn. With simple examples, they teach the most complex subject matters such as tax sheltering, internal rate of return etc. in such a way that investors understand and implement the techniques taught.

It is useful to attend these classes yet experience is the best teacher ever. You gain a clear idea of how to start real estate investing as well as what strategies to use to achieve end results that you desire, if you opt for an education in real estate investing.

Getting an education in real estate investing will teach the investor what mistakes not to make as well as what steps he has to take to ensure successful investing. Setting target goals and learning how to plan carefully, studying the local market etc. will help an investor succeed as real estate investing educational institutes teach them, getting an education in real estate investing is recommended.
There are firms that offer services as well as products to help a business to succeed.

Alexander Gordon is a writer for http://www.smallbusinessconsulting.com – The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

Business Owners all across the country are joining “The Community of Small Business Owners to receive and provide strategies, insight, tips, support and more on starting, managing, growing, and selling their businesses. As a member, you will have access to true Millionaire Business Owners who will provide strategies and tips from their real-life experiences.

Author: Alexander Gordon
Article Source: EzineArticles.com
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Anyone trying to sell a home in a falling market is probably a bit fed up, frustrated and worried just now. However, with a bit of help you can either sell your home, or accept that it might be better to stay where you are for a while, or even improve your home so you don’t need to move at all.

Check whether your property CAN sell

Whether you are thinking of selling, or are already marketing your property, chat to local estate agents to establish if there are any buyers who are currently in a financial position to purchase your home. Ask if any properties like your have been sold recently and if so at what price.

Unfortunately at the moment, as there are so few buyers and lenders lending criteria is so tight, properties that might be worth £150,000 might only sell for £135,000 or less – as there will always be someone that ‘has to sell’ and they will keep dropping the price until someone buys. 

Consider Investing in a RICS Survey

To help your property stand out and to speed up a potential sale, it might be worth getting an independent survey, which shows what work needs to be done OR that no work is required.

Either way you can then be honest with buyers to say the property needs no major work; that work is required but you will negotiate on the price; OR that the work required has already been priced into the property’s value. It can reassure buyers about purchasing your property over and above someone elses. 

Showcase an Electrical and Gas Safety Certificate

Although required for rental properties, bizarrely these are not required when selling a home, but if you have can give your gas and electrics a clean bill of health, that can be very attractive to buyers and make your property more likely to be chosen over others.

Choose the Best Agent

It’s advisable to gain a valuation from at least one agent that either has someone in their office who is experienced at selling in a falling market (ie the 1990s) or was operating during the 1990s. The reason being is they are likely to better understand how to price properties to sell.

To find an agent that CAN sell properties during these difficult times check the local newspapers and property portals to see which agents have actually SOLD properties similar to yours, not ones just advertising them for sale. Alternatively contact Designs on Property to find who the best selling agent is locally. This service costs just £9.99!

Be a Buyer for a Day!

A great way to work out how to sell your property is to be the buyer. Look at other properties on-line and even visit them to see whether they offer more for a buyer’s money than yours and make changes accordingly. One thing that is essential is to look for is the pictures of your property on-line – do they encourage the buyer to visit or put them off? People buy properties for their views, the kitchen/bathroom, a wow factor for example the garden. So make sure that the first pictures really show off your property in it’s best light. Ideally don’t actually put huge numbers of properties on-line, otherwise people might think they have ‘seen’ the whole property so they don’t bother to visit.

Make sure your property stands out from the crowd

Anyone buying at the moment will want a deal, but they will also want to buy a home to live in. Make sure your property is targeted at the right buyer. If it’s someone that wants a doer upper, don’t spend money preparing it for sale. If it’s someone who wants to just move straight in – make sure they can and prepare the home well.

Price your Property Right

In a normal market, most homes that are priced correctly, will receive an offer within eight weeks after an average of ten viewings. In the current market, the only properties that will sell are the ones that are competitively priced versus everything else on the market. So if you have a three bedroom 1930s property and there are three for sale locally, or even in your street, it’s only the lowest priced property that will sell.

Always use a For Sale Board

Unless you are in a rural area, it’s a good idea to have a for sale board as most people move within three miles of where they live – so they are likely to see your board and then enquire about the property.

Prepare all your Paperwork

Many people see a Home Information Pack (HIP) as a waste of time – it is if you don’t put the effort in to make the most use of it. Fill in the Property Information and Fixtures and Fittings Form; make sure that your property is as energy efficient as possible; ensure that any paperwork such as planning permission and/or building regulations is readily available. If you really must move, progress your legals to contract stage, then when you do get an offer, you can proceed quickly and are less likely to lose your buyer due to delays.

If there are not takers – can you rent it out, improve or stay?

Unfortunately the market has so few buyers at the moment, that it just may not be possible to find one for your home without crashing the price. If you don’t want to do that, why not consider renting it out and still moving, improving your current home so you don’t need to move, or even just staying put for a few years until the market recovers enough to sell, which is likely to take a couple of years.

I have been a consultant to the property sector for a number of years and been renovating properties for over 20 years. I have also written a number of books, including four for Which? – Buy, Sell, Move House, Renting and Letting, Develop your Property and the Property Investment Handbook.

I am currently one of the top property experts in the UK and regularly quoted in the press including the Telegraph, Independent, Times, Daily Mail and Express as well as featured on a number of local BBC Radio stations.

http://www.designsonproperty.co.uk/categories/20090223_1

Author: Kate Faulkner
Article Source: EzineArticles.com
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People may choose to sell their houses for several reasons. But when it comes to selling a damaged house, the prime reason cited by most is to generate quick cash. Selling house is not an easy process. If the house is damaged, it becomes all the more difficult. As a matter of fact, any kind of damage in the house is bound to adversely affect its sale price. The more the damage, the less the selling price. If you own a house that is damaged, one question that might bother you is – how do I sell my damaged house?

A perfect house fetches a high sale price. On the contrary, a damaged house is not preferred by anyone, be it the lenders, insurance companies, or house buyers.
Damaged houses typically require a lot of repair work; hence, its sale price will not be as much as a house in move-in condition.

Which buyer will pay top market value for your damaged home? Many people repair their houses before selling it, the reason being simple-getting maximum profit out of the deal. However, a lot of house owners are not able to repair their houses due to several factors such as financial reasons, time factor, lack of willingness, and lack of knowledge required for carrying out the repairs. Thus, selling a damaged house is not easy.

In general, lenders are not willing to finance a damaged house. Also, what insurance will cover it? Above all, which buyer would like to close the purchase on such a property? Although selling a damaged house is a difficult task, there is one solution.

There are firms that buy damaged houses. They buy all kinds of houses with any type and extent of damage, be it fire- and water-damaged houses, mold-infected houses, termite-infected houses, houses with bad roofs, unattractive houses, or very old houses with normal wear and tear. These firms don’t require any lender to sanction the purchase; this is because they use cash. Another important point is that such firms don’t require insurance.

So, instead of worrying about how to sell your damaged house, approach any of such firms. All you need to do is submit the information about your house. Make sure that you provide correct information. The rest will be taken care of by these firms, which will try their best to serve your needs. So instead of giving up, why don’t you head on to those firms that could absolutely help you out? You may never know what they can do for you unless you seek and ask them to.

Terry Bryan has been called the “Warriorwiz” and the “Black Belt Investor Millionaire Maker” because of his un-canny ability to use traditional military and martial arts principles in conjunction with business systems and creative real estate investing to help his students get the life they deserve.

For more Information and Secrets on Creative Real Estate Investing, please visit Terry’s websites:

Colorado Real Estate Secrets – Free CD
http://www.coloradorealestatesecrets.com/

CSREC – Home Real Estate Investing Club in Colorado Springs
http://www.csrec.com/default.html

Terry Bryan – The WarriorWiz
http://www.warriorwiz.com/

Author: Hanshi Terry Bryan
Article Source: EzineArticles.com
Unix inter-process communication (IPC)

To finance your self build project, you need to make sure that you understand the differences between borrowing for a ready built home and borrowing to build.

When you finance an existing home, it’s easy to estimate the value of the property and easier for lenders to work out how much risk they will be taking on when lending you money. Once you agreed a price and exchanged on an existing home, then you can go ahead with the purchase, the lender releases the money and you move in and start paying the mortgage.

With a self build, you need to borrow money in stages. For example, initially you need to buy the land, then it may be several months before you clear the plot. The next stage is the ground works for foundations and drainage and after more months waiting you finally start to see your property being built!

As a result, many lenders will not want to lend on self build projects as it requires specialist knowledge and experience and it’s more work than a standard mortgage. So follow our three step guide to help you finance your property in the best possible way:-

Step One: Understand self build mortgages

Make sure you approach specialist and experienced lenders that will let you borrow money at each stage of the land purchase and build. Lending in stages often means that you can stay in your current property and carry out much of the build before you move into your newly built home as the costs of the mortgage start off with mortgage payments for the cost of the land, then a bit more for clearning the land and groundworks etc.

Step Two: Scrutinise the finance costs
Unfortunately you are likely to have to pay more for your self build mortgage, so it’s important to compare costs from different lenders. For example, the lending criteria and associated costs for self build mortgages are typically:-

5% deposit for the land and build, providing that when you finish the mortgage is only 75% of the final valuation.

You can’t now secure a self build mortgage on a ‘self certification’ basis. 

Typical fixed rates for self build mortgages are around 5-6%.

Fees for securing the mortgage range from £1,000 to 1.5% of the amount you borrow.

You are also likely to pay a little more on legals and survey fees too, so it’s worth budgeting around £2,000 for these essential items.

Step Three: Find a lender that will be efficient and flexible on payments
When you are borrowing money in stages for building a new home, it’s important to make sure you work with a lender that understands you need your money quickly, in advance of each stage of the build. You also need to find a flexible lender that understands you may go over budget and need to re-negotiate an increased loan during the build. It’s no good working with a lender that takes months to make a decision. If they are too slow, you may lose your builder if you can’t pay them or might not be able to pay for essential materials.

To ensure you secure the right finance visit our self build finance section and don’t forget you’ll need specialist insurance to insure your plot, the build and your new home! Visit our building warranties section for more information.

To find out more about self build take a look at our Develop and Build section, read our Top 10 Tips about Building a Home and our Guide to Building a Home.  Do you have a property question you want an unbiased and independent answer to?  Call us on 0845 838 1763.

I have been a consultant to the property sector for a number of years and been renovating properties for over 20 years. I have also written a number of books, including four for Which? – Buy, Sell, Move House, Renting and Letting, Develop your Property and the Property Investment Handbook.

I am currently one of the top property experts in the UK and regularly quoted in the press including the Telegraph, Independent, Times, Daily Mail and Express as well as featured on a number of local BBC Radio stations.

Contact me at Designs on Property on 0845 838 1763 or visit our website below:-

http://www.designsonproperty.co.uk

Author: Kate Faulkner
Article Source: EzineArticles.com
Unix inter-process communication (IPC)

When you need cash quickly or you need to sell your property or your home quickly, whether it is financial difficulties or moving to a new location for work. There are a number of things to consider and a number of places that can help you with the quick sell of your home.

A cash quick sale of a house is usually done for one of two reasons, danger of foreclosure or moving. There are a significant number of steps to putting together a quick sell when it comes to property. It is wise to have an agent working for you during this process. This will help to keep all the schedules, paperwork and meetings on track and provide you with someone who knows the ins and outs of property. It is a good idea if you are looking into doing this type of sale for your home that you get an agent that specializes in this type of property sale.

What is involved

The first thing to understand about the quick sale of a property is what exactly is involved in the process. In order to quickly sell your home you must basically ask the lender to forgive the remaining balance on the loan. Many lenders are not going to be willing to do this. However, they are going to be more willing than dealing with a foreclosure on the property. It does have to be presented carefully which is why having a professional with experience in these types of sales is a good policy.

They can help make the process quick and relatively painless. The best part about a quick sell property company is that they can save your credit. If you are having difficulties and are, looking at possible foreclosure this can be a way to sell your property before you have to foreclose. If you are moving this can be a way to get the money you need quickly in order to make the move transition smoother with your new place instead of spending a year or sometimes more in a flat waiting for your home to sell. In the mean time making, both rent and mortgage payments.

Brokers and agents

The best thing to do is to speak to an agent as soon as the need arises rather than waiting. Quick sell properties have significant amount of paperwork, more than most deals with mortgage lenders and brokers so getting the process started as soon as possible is essential to getting your home or property sold quickly and with the least amount of hassles.

It is important that you do not try to handle a fast cash sale on your own. It can actually hinder the process because there are so many people that you need to go though. Just remember these key points and you can sell your home quickly and easily with the least amount of hassle. Make your plan to sell as soon as you know you have to do not wait and always use an agent to assist you in the process. This will help to ensure that the process runs smoothly and your home or property sells quickly.

Before you make a choice, make sure you check Pinewood Property Solutions for more information on selling your property quickly for a quick sale, option quick sale

Author: Mark Longman
Article Source: EzineArticles.com
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