Short Sales Explained: 6 Major Differences Between a Short Sale and Foreclosure

A Short Sale is when the mortgage lender agrees to settle with a discounted payoff that is less than the balance owed on the loan to consummate a sale of the property and stop foreclosure. By taking this avenue, it will help the lender receive more of the loan balance and less hefty fees compared to a foreclosure process. The homeowner will also maintain a better level of credit. Certain criteria must be met to qualify for a short sale. Provision of economic hardship & evidence of zero equity in the property must be submitted by the homeowner to the mortgage lender. It is an extremely complex transaction, so be sure to select an experienced professional who is very knowledgeable in this field.

6 Differences Between a Short Sale and a Foreclosure

1. Credit Score

A short sale lowers your credit as little as 50 points for 12 to 18 months. While Foreclosure lowers it at a minimum of 250 points for three years or longer. Without the ability to repair your credit after a foreclosure, it may affect your ability to be gainfully employed or find housing.

2. Credit History

A short sale is reported paid in full and does not show on a credit report. A foreclosure will be on your credit history for 10 years or more as public records.

3. Waiting period to buy another home

If you can stop your foreclosure, you can get loans with reasonable interest rates within two years. With a foreclosure, you may wait 24-72 months.

4. Cost & Length of Time

Short sales are typically faster and less costly than foreclosure and it saves you a lot of embarrassment and shame that is associated with foreclosure. Foreclosure puts you at risk of being sued by your lender, dragging out this painful experience longer. Foreclosure also causes the homes of your neighbors to go down in value.

5. Future loans

With most lenders, a short sale does not need to be declared on a standard loan application, while a foreclosure will, therefore, skyrocketing your interest rates. Know that you may experience this reminder every time you need a loan for the rest of your life.

6. Sale of property

A short sale is a consent agreement between seller and lender while a foreclosure is a forced action upon the seller by the lender.

Many unfortunate homeowners find themselves caught up in a dilemma due to a poor local and nationwide real estate market or financial hardship. Homeowners are unable to refinance or modify their mortgage loan. Restore your dignity and peace of mind. Enjoy not only forgiveness, but some banks offer cash or other compensation to the homeowners who cooperate in this short sale process. Real estate firms that specialize in these types of transactions have the necessary experience and solution to eliminate your mortgage debt problems and provide you with the free lifestyle you long for. Time is of the essence so call an agency right away to have your questions answered. Make the best decision of your life and stop your foreclosure proceedings.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Ivy Brooks

How Can You Find a Reliable Real Estate Agent?

There are a lot of real estate agents that can be found everywhere, and they can be categorized as a professional and a salesperson. A professional is someone who can provide you with advices regarding real estate properties; something that will be beneficial for you or your business. A salesperson is someone who will do anything just to convince you to purchase the property, and this is the person whom you don’t want to deal with.

Here is the step by step guide that you can follow whenever you are looking for a reliable real estate agent:

Search the Internet and create a list of all the agents that you found.

Look for their website or contact details to learn more about them.

Contact them and try to start a conversation with them.

Try to categorize the way they talk to you, and this will show you who the professional really is.

A professional agent can provide you with advices based on facts! Fact is the keyword. If he can provide you with information that will be useful for you, then he is a reliable real estate agent. For example, you ask them;

„There is someone who told me that the prices of properties will go down this year, is that true?“

A professional real estate agent will tell you;

„I cannot answer that because no one can pinpoint whether the prices of properties will go up or down, but based on my records for the past few years, the prices of real estate properties had an average increase of 3.5%. Using this information, I can tell that you that a 30% decrease in value is farfetched.“

A salesperson will tell you;

„A downfall in the market is farfetched and is very impossible. I have here a list of all the properties that are downfall-proof, and you can be sure that they will remain stable regardless of the condition of the market.“

From here, we can already tell which of these agents is more professional. Both believe that the price of properties will remain the same, but the base of their answers are different. A salesperson is someone will tell that you everything just to get you to purchase a property. He’ll even tell you that a property is a prime commercial space even though it is located in the middle of the forest.

This is one of the best methods that you can use in order to find a reliable real estate agent. It is true that agents are eager to sell a property for you, but a professional is not „that“ eager that he’ll do sales talk just to get you to buy a property and spend your money on something that is not worth your money.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Todd P. Miller

Before You Buy, Your First Home

Real estate is one of our oldest industries, because as long, as someone owns, something of value, there will be conditions, at some point, or another, which bring him, to consider selling it! Every individual, who buys any house, at some point must proceed, to purchase his first home, and doing so, for the first time, has certain specific challenges, and obstacles, involved, as compared to when, someone buys their second, third, etc. With that in mind, this article will attempt to briefly, consider, examine, review, and discuss, some smart considerations, when one is ready, to purchase his first home, of his own.

1. Why are you buying, versus renting, etc?: Begin with an introspective, objective, review, of why, you want to own a home, rather than continue, your present living arrangements. How has your life experiences, and/ or expectations, led you, to this decision? Have you considered the responsibilities, and obligations of owning, in terms of financial, maintenance/ repair/ renovations, and how, you might feel about doing so? How will owning, better serve your needs, and expectations, etc, than renting, etc?

2. Financial considerations/ preparation: Are you prepared for owning a home, of your own? Have you looked, at your finances, and consulted, a mortgage professional, to consider your qualifications, and ability to obtain the loan, most need, and require? In terms of finances, you must closely consider, and examine, if you have the funds, for the down – payment, as well as all the needed reserves, etc. Some of the reserves, must include: Reserve fund, for contingencies, in case you have some change in work status (recommend 6 – 9 months reserves); funds for immediate repairs, renovations, upgrades, including painting, flooring, etc; appliance reserve (for upgrading/ replacing appliances, such as refrigerators, dishwashers. freezers, cooking appliance, etc; future renovations; future repairs; upgrades; and major needs, etc. Homeowners, who prepare for contingencies, discover, owning is far more relaxing, and less stressful, than those who fail to be ready!

3. Know your needs: Smart buyers know, and fully consider, their needs, now, and into the future! Are you buying this house, for the longer – term, or focusing on it, as a starter – home? If it’s the latter, then, it might be simpler, to consider, because there are fewer variables! Those looking, longer – term, must evaluate, whether they might be well – served, and whether there is a potential, for adapting the specific house, on this property, for future needs!

4. Location: It’s possible to change many things about a specific house, and property, but, you can’t change its location! Before buying, walk around the neighborhood, and area, see if it meets your needs, and priorities, in terms of schools, conveniences, shopping, transportation, safety, etc.

These are just, four, of the considerations, before purchasing your first house. Those who consider things, thoroughly, consistently, are happier, and better served, with home ownership!

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Richard Brody

How To Buy The Best Real Estate Property For Investment

Many people are looking to buy a real estate property. They can use this as an investment or as a place to build a house. In any case, it is important for anyone to realize the importance of some buying tips. This way, you can easily get the most value out of your purchase. Of course, if you want to invest on a property, you have to make sure it is problem free. On the other hand, you could also use the property to build a new house. Usually, people are buying real estate assets for the family. Therefore, it is best that you could choose one without problems. Here, we will give you a few tips on how you can select a good real estate property.

One thing that you need to consider is to find a good location. The location of the property spells its true value. The more accessible it is, the better is the price. However, the initial buying price could be big for you to avail. This is normal because you are just investing on an asset. In the long run, your property will be worth more than what you paid for. This means you could increase the value of your asset so you can have better return of investment. Initially, a person needs to render a big amount of money to buy a property. If the location undergoes development in a few years, then the buyer could increase the value of his asset. Then he could sell it at a much higher price. Only this way can profits be realized.

Aside from location, it is also good to check if the property has no legal obligations. One of the basic problems of property buyers is legal problems. A property may have come from a bad owner who did not pay the previous tax requirements. This can be a pain to the buyer especially if the amount is too much to pay. On the other hand, there could be some foreclosure problems if the property has a built structure. This is also a concern for any buyers because it requires being resolved first. Upon solving it, one can then ask for the price of the property if it is for sale.

One more thing that you need to do is to find a broker or agent. We all want to save money when buying properties. However, we can save time and effort if there is an agent. A real estate agent will know everything that needs to be done. He can handle the legal issues of the properties if there is a problem. He can also let you bargain for the price when you want to buy or sell a property. Moreover, he can monitor the prices of the real estate so you can have better decisions. There are so many agents that you can find. Online, you may find them from real estate websites or those freelancers. It is best that you contact any of these agents so you can buy your property today.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Sanjuanita Jandreau

Top 5 Reasons To Sell Your House To A Real Estate Investor

You are probably wondering why you would want to sell your house to a real estate investor instead of listing your house with a realtor or selling it yourself. There are many very good reasons that you should consider selling to a real estate investor. I will share with you some different options that you probably have never even thought of before, or knew that you could do. I am going to give you the top 5 reasons why you should consider selling your house to a real estate investor.

1) A real estate investor will buy your house from you no matter what condition your houses are in. What this means to you is that you will not have to make any costly repairs to your house. Now if you listed your house with a realtor they are going to want you to make all the necessary repairs to your house before they will list it. The other reason is that most lenders in today’s market will not lend money to buyers that are buying a house that needs major repairs. Now second of all, if you try to sell your house yourself you will still need to possibly change your flooring and repaint your walls. Most buyers in today’s market will not want to move into a home and start making repairs. Therefore you will have a limited number of buyers that might show interest in your house but, they will want to get your house at a large discount.

2) Real estate investors will buy your house for all cash „as-is“, or they can give you up to full market value for your house if you are a little flexible on your terms. A real estate investor will work with you to find out all of your goals for selling your house. Then they will do their best to meet or exceed all of your goals for selling your home. They are professional home buyers helping people solve their real estate problems. They have a lot of experience buying houses from people just like you in all different types of situations. Just to name some of the situations they can help you with are: if your house is just not selling in today’s market, inherited homes, distressed property, vacant homes, probate houses, behind on payments, divorce, house liens and judgments, rental property, expired realtor listing, bankruptcy or if you are just facing foreclosure. No matter what the condition, area, or situation you have with your house a real estate investor can give you many viable options to sell your house fast.

3) If you sell your house to a real estate investor they can close on your house fast usually in 10 days or less. You will be able to get cash in your hand quickly without any of the hassles of selling your house the traditional way. Real estate investors are professionals with lots of experience in helping homeowners walk through the process of selling their house fast. The reason they are able to close quickly on your home is that they work with a large network of buyers that have cash and are ready to buy houses in your area fast. This is not like a traditional buyer that you will get from selling your house yourself or from a realtor. These types of buyers will take at least 30-60 days to close and that would be only if they make it through the loan process.

4) Real estate investors don’t want to list your house they want to buy your house fast. When you sell your house to a real estate investor they will market your house to their buyers at hyper speed. By this I mean if you sold your house yourself you would probably put a sign in front of your house, put an ad in the newspaper or you might even list your house on the MLS for a flat fee. These things are good but at best you will probably only get a small amount of people coming to look at your house but, most of them will be tire kickers. In today’s market there are more houses for sale then there are people to buy them all. The same goes if you were to list your house with a realtor; they will put a sign in your yard, list it on the MLS and wait for people to call. Most realtors don’t continually market your property through other avenues past that. A real estate investor will market your property immediately after you agree on price and terms. They will market your house with all available advertising to get your house sold fast Plus they have a huge list of buyers who are currently buying houses and have the cash to do it fast. Therefore selling to a real estate investor is your best option if you want to sell your house fast in today’s market.

5) When you sell your house to a real estate investor you will not have to pay anything out of your pocket. In fact they work hard for you and with you to get your house sold with no cost to you and very fast. The reason they can do this is that they actually get a fee from the buyer they sell the property to therefore eliminating any costs at all to you the seller. Not to mention real estate investors will give you a net offer on your house. What this means to you is that you will receive that net offer at closing. Now if you sold your house the traditional way buy yourself or through realtor you will only net at closing on average of 80-85% of the listing price of your home. The reason this is true is that you realtor will take their 6% commissions, then you will have to pay losing costs of 2-3%, then the buyer will want a discount of at least 5% in today’s market. After all of those discounts the buyer will have a property inspection of your house done and the inspector will come back with a big list of possible problems which the buyer will want a discount on. This is usually another 3-5% off. most sellers do not realize that this is actually the amount of money that they will net at closing, after they have waited 4-8 months through this whole process to sell their home the traditional way.

As you have probably realized by now there’s a lot more benefits to selling your house to a real estate investor verses selling your house the traditional way of for sale by owner or with realtor. Is your time and money really worth all the hassles and aggravation of selling your house the traditional way? If you sell your house to a real estate investor you will have a fast, friendly, hassle free sale of your house

Immobilienmakler Heidelberg

Makler Heidelberg



Source by David Wilkison

Homes For Sale: 5 Tips to Sell Your Home Fast

When the market is down, homes for sale can sometimes sit longer than homeowner’s would like. Generally, lowering the price moves it quicker because buyers want to feel like they got a good deal. However, lowering the price isn’t the only option, and it is helpful for homeowners to learn tips to help them sell their home fast.

1. Create Curb Appeal

When you sell a house, it’s important to remember that appearance is everything, and so are first impressions. The first thing a potential buyer sees is the outside of your house. Make sure your yard is well-kept, clean, and uncluttered. Replace any old or faded shudders, give the house a fresh coat of paint if needed, and replace outdated or worn gutters. In short, make it look as nice as possible on the outside so potential buyers want to see the inside.

2. Differentiate From Your Neighbors

There may be several homes for sale in your neighborhood or on your block, and you need to set yourself apart from them. Start by making your home memorable, which should also increase its value. You can get custom landscape designs, high-grade windows, or a new roof. Just make sure that you don’t go overboard with pricey renovations that may not pay off.

3. Update Your House

In a down market, buyers have a lot of options, and they don’t want a house that they need to fix up after buying it. Your job is to make them feel like they can move in and hit the ground running with their new life. Ensure that the doors, appliances, electrical, and plumbing fixtures are in compliance and good working order. Change the batteries in the fire alarms, make sure the molding and baseboards look nice, and update anything that is outdated or unattractive.

4. Clear the Clutter

Potential buyers need to see themselves living in your home, and it’s difficult to do when it is cluttered. Go through everything and either get rid of stuff or take it to storage. You want your home to look simple and clean so buyers can easily picture themselves there. Consider hiring a stager to help you make the most of your space, and create the right image for potential buyers.

5. Sweeten the deal

You may not need to lower the price of your home to sell it, but buyers still want to feel like they got a good deal. In that case, consider some perks. Offer a credit to go toward closing costs or offer to pay closing costs outright. Check with your realtor to see if there are specific deals buyers want that you can consider in your offer, as well.

Selling a house in a down market doesn’t have to be difficult, and homeowners don’t have to immediately lower their price. Start with one of these tips to help you with your homes for sale, and increase your chances of selling it quickly.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Andrew Stratton

4 Objectives Of Home Sellers

When a homeowner decides, he is ready and willing to sell his home, he must examine, using the utmost degree, of objective introspective, why he has decided to do so, and what he wants to achieve/ accomplish (his personal objectives). In my, over a decade, as a Real Estate Licensed Salesperson, in the State of New York, I have determined, there are a wide variety of reasons, but, in the vast majority of instance, these fall into 4 specific categories. With that in mind, this article will briefly attempt to review, examine and consider, 4 objectives of most home sellers.

1. Best possible price: Obviously, when one sells his house, he hopes to receive the highest, best possible, price, for it! However, to do so, requires a strategy and focus, and the realization and recognition, the listing and selling prices, might be considerably different entities, in certain instances. These sellers should have a thorough discussion with their real estate professional, to come to a meeting of the minds, to determine what price to list, the house at, and the reasoning. strategic purposes. Depending on many factors, setting the price, right/ correctly, from the start, generally, garners the best price. This does not mean, merely setting a high price, because there are many instances, where doing so, may do harm, to the final result. Smart homeowners have a complete discussion, before they proceed!

2. Shortest period of time: There’s many reasons, getting the home sold, in a relatively short period of time, is beneficial to a homeowner. Studies indicate, in the vast majority of cases, the best, selling price, is generally offered, in the first few weeks, because, that is when, it is perceived, the house is hot! Many potential buyers tend to wonder, if a house is great, why didn’t it sell, sooner! Generally, this occurs, when the listing price is higher than it should be! In addition, one should understand the opportunity – cost of money, because a homeowner must continue paying the costs associated with the house, until it closes (including taxes, utilities, mortgage payments, upkeep, etc). One should also understand the longer the process lingers, the greater, the stresses and inconveniences!

3. Best terms: Often, price is not the only factor involved. Some buyers might put more money down, while others might be willing to waive contingencies, such as for receiving a mortgage, etc. The fewer the contingencies, the less might go wrong!

4. Least hassle: When homeowner and agent, have a complete conversation, and share strategy and process ideas and considerations, there will generally be less hassle. Understand, often, the process of selling one’s house, is a tense period of time!

Professional, quality real estate agents, recognize, understand, and fully examine and consider, the seller’s objectives, and do everything possible, to provide the best possible service and advice. Will you be guided accordingly?

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Richard Brody

Benefits of Selling to a Property Buying Company

Selling your home to a cash for property company can be advantageous for many reasons, and doing so doesn’t necessarily mean that you have to pack up and move out either. Nowadays, there are several property buying companies who are willing to buy your home from you and often times will allow you to rent the house from them after they take ownership.

One of the advantages of selling your home to a property buying company that you can get it done quickly. In today’s market, homeowners sometimes have to several months or even years to be able to sell their homes. If you’re able to sell your home quickly, you won’t have to worry about missing out on your dream home. Not to mention that any offer you make to a seller will be taken more seriously as they know you have the funds – you may even be able to save some money too. The process of selling your home to a property buying company usually takes less than two weeks. Plus, there are no real estate commissions to pay since no agent is required and the property buying company pays for all the legal fees involved.

Many of us often get into bad credit card or other debt and many times take out loans that use your homes as collateral, so falling behind on payments puts you at risk of losing your home. Selling your property for cash quickly can also help you avoid foreclosure and get you out of any other debts you have.

Another reason to sell your home to a property buying company is if you have to sell quickly due to divorce or separation in a relationship. Selling to a property buying company ensures that you will receive a lump sum of cash for you property in as little as two weeks. After the sale, you can either move to another location or rent the home from the property buying company, which should certainly be more affordable than a mortgage.

If you have to move because of a job relocation, quick cash for your property can be a huge relief. Doing so means you don’t have to worry about carrying a second mortgage or managing a bridge loan. You also wouldn’t have to worry about trying to keep your first property maintained while waiting for it to sell.

There are several reasons why it could be beneficial to sell your property to a property buying company. Quick cash for your home releases the equity in your home allowing you to settle your debt and start fresh. It’s up to you, though, whether to find another residence or to remain in the home paying a lower rental rate instead of a mortgage.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Oliver Wingrove

Successful Real Estate Agents Use 5 – Steps To Answer/ Address Questions And Concerns

Although, there are far – more, real estate agents, than successful ones, it might be helpful, to analyze, consider, and understand, what, the best ones, do, which makes them, stand – out, from the crowd! One of the key areas, which, often, differentiates, between, them, is, how they address concerns, and answer questions, effectively, and to, the best, of their abilities, and, to the satisfaction of one’s actual, and/ or, potential customers, and/ or, clients. After, over 15 years, as a Real Estate Licensed Salesperson, in the State of New York, I believe, strongly, using the 5 – steps, which, effectively, address concerns, and answer questions, not to the agent’s satisfaction, but to his clients. Therefore, this article will attempt to, briefly, consider, review, address, and discuss, why this approach, makes sense, and is effective.

1. Carefully listen: Don’t make the mistake, of trying to prejudge, what someone’s concerns, are, and, carefully, thoroughly, listen, and, then, ensure, you truly understand, what’s being asked! Too often, individuals rush to respond, which sometimes, opens – up, the so – called, Pandora’s Box, and, thus, create more concerns, and questions, which the other person, didn’t previously possess! A simple way, to do this, is to say, something like, In other words, your concerned about, and state, what you think, he said, Do not proceed, to the next step, until you are certain of this first one!

2. Empathy: Since, for most of us, the value of our house, is our single – biggest, financial asset, and, many consider, home ownership, to be one of the essentials of the so – called, American Dream, the reality is, these people, are seeking, an agent, who cares, about them. Proceed, with the utmost degree of genuine empathy, by listening, far more than speaking, and openly, focusing on the client’s best interests (actual, and/ or perceived). One effective way to word – this, is, I can perfectly understand, how you feel, In fact, I felt that way, and so did, many others.

3. Fully answer to their satisfaction: Transition this discussion, by adding, Until they realized a few things. Then, fully answer, to their satisfaction, and not, merely, to yours. Wait for some indication, either a gesture, body language, nodding, or verbal statement, indicating, they understand.

4. Create/ recreate the need (inspire and motivate): Depending, on your relationship, and when the concern was addressed, you need to, either, create, and/ or, recreate the need, in an inspiring, and motivating way. Using expressions, such, as, In light of what we’ve discussed, and reviewed, often, moves the discussion, forward, effectively!

5. Close the deal: Although, the previous four steps, are important, and necessary, unless/ until, an agent, closes the deal, by creating a meaningful, meeting – of – the – minds, and a true agreement – level, the process, will not move forward, in the most meaningful way!

Success comes from practice, discipline, commitment, knowledge, action, and consistency! Will you commit to these tasks, and skills, etc?

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Richard Brody

The Pros and Cons of Overhead Projectors

Despite the rise of LCD digital projectors, overhead projectors are still widely used in different settings such as classrooms and business meetings. They are very sturdy, easy to use, and fairly affordable. In short, an overhead projector can be rightfully considered as a practical tool for presenting visuals to a large group of people.

Read on and learn about the advantages and disadvantages of using this type of projector.

Pros

1. They are easy to operate. The most obvious benefit here is that these projectors are equipped with simple technology. It doesn’t have complicated parts nor does it have too many cables that’s why setting it up is never a hassle. You won’t have to worry about figuring out different settings and requirements such as software troubleshooting and others. This also means you will be able to avoid computer-related concerns which could possibly ruin your presentations.

2. They are less expensive to acquire and maintain. Compared with modern LCD projectors, overhead projectors require lesser amount of money to acquire and maintain. Purchasing from the right resources could lead you to about 50 percent savings and so this makes a nice choice if you are tight on budget. Look around and try browsing the available options. You will likely find projectors that have almost the same price as an LCD lamp.

3. Transparencies are available everywhere. Regardless if you are using an inkjet or laser printer, there are transparency films that are perfect for your device. These transparencies can be bought from nearby stores that carry office supplies and they are often available for a cheap price.

Cons

1. The heat. Although projector cases are designed to endure the heat of internal lamps, you as a user may still find it too hot to touch. Moreover, certain parts could even cause burns if you are not too careful. Also, be extra cautious not to place flammable materials beside it during or after use. This is important so you can avoid untoward incidents.

2. The toxins. There’s always the tendency for the projector’s plastic and metal parts to melt because of its heat level. When this happens, the machine will likely release toxic chemicals which may induce dizziness, skin irritation, and others. In case you suspect that you are are experiencing any of these symptoms after using the machine, then it’s always best to contact a professional technician to perform checks and repairs.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Shaan Berg

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