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Posts Tagged ‘home’

You are in the process of trying to sell your house and have your marketing up and running. So, how do you convert callers into offers? Here is one method.

A Tip On How To Get Offers When Showing Your House

Once you have decided to sell your home, there are a couple of steps you have to take. The first is to get the home ready to show by doing repairs, landscaping and so on. Once you are ready to go, you have to start marketing the home. Assuming you have done all of this, the house is in good shape and you are competitively priced, you should start getting calls from potential buyers. These calls then turn into appointments and buyers come to see your home.

At this point, you probably expect that I will start writing about how to negotiate or accept offers. Wrong. The next step in the process is often one of frustration. The frustration arises from wishy washy buyers. They come and see the home, but leave without making an offer. They may come back a couple of times, but they simply never get around to doing the deed as they say. Simply put, this is because you have failed to address the issue of motivation.

Buyers need to be motivated to take action. The more motivated they are, the faster they will move. For instance, consider the holiday shopping season. Nobody, and I mean nobody, is out browsing in the malls. Why? The buyers are highly motivated to buy because there is a deadline and they probably have more than a few people to shop for. Simply put, they are highly motivated to do the deed.
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Your lender uses your home as security for your mortgage payments. This means that if you do not make the payments, they can take your home. The process they use to take your home is called foreclosure.

If you are behind on your payments, it is important that you act quickly to prevent foreclosure.

What should I do if I am behind on my house payment?

Call your lender Most lenders do not want you to lose your home. Tell them why you are behind on your payments. Ask them to work with you to get your payments current.

Don’t ignore letters from your lender Let them know you’ve received their letters and that you want to work with them.

How your lender can help

Your lender might accept a payment plan for the back payments or give you extra time to pay the loan.

What if my lender won’t help?

You still have options:

Call another lender. Ask if they will give you a new loan to pay off your existing mortgage.

Sell your home. You might get enough money from the sale of your home to pay the loan off and even have money left over.

Talk to a lawyer. Ask if filing for bankruptcy can help you keep your home.

The foreclosure process

Foreclosure begins when you get a Notice of Default in the mail. The Notice of Default tells you that you have not made your payments. It also tells you the amount you owe in missed payments and foreclosure fees.

You have 3 months from the date the Notice of Default is recorded to pay the back payments and fees. You can find the date the notice was recorded on the first page next to the words “recorded on.” If you pay the amount on the Notice of Default, the lender cannot sell your home.
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For most people, the prospect of selling their home can be positively daunting. First of all, there are usually plenty of things to do just to get it ready for the market. Besides the traditional clean-up, paint-up, fix-up chores that invariably wind up costing more than you planned, there are always the overriding concerns about how much the market will bear and how much you will eventually wind up selling it for.

Will you get your asking price, or will you have to drop your price to make the deal? After all, your home is a major investment, no doubt a rather large one, so when it comes to selling it you want to get your highest possible return. Yet in spite of everyone’s desire to get the top dollar for their property, most people are extremely unsure as to how to go about getting it. However, some savvy sellers have long known a little financial technique that has helped them to get top dollar for their property. In fact, on some rare occasions, they have even sold their properties for more than they were worth using this powerful financing tool. Although that might be the exception rather than the rule, you can certainly use this technique to get the most money possible when selling your property.

Seller carry-back, or take-back financing, has proven to be a surefire technique for closing deals. Even though most people do not think about when it comes to selling a property, they really should consider using it. According to the Federal Reserve, there are currently over 100 Billion dollars of seller carry-back (seller take-back) loans in existence. By any standard, that is a lot of money. But most importantly, it is also a very clear indication that more people are starting to use seller take-back financing techniques because it offers many financial benefits to both sellers and buyers. Basically, seller take-back financing is a relatively simple concept. A seller-take back loan is created when a property is sold and the seller performs like a lender by assisting in financing all or part of the total transaction. In effect, the seller is actually lending the buyer a certain amount of money toward the purchase price, while a traditional mortgage company usually funds the balance of the purchase price. A seller take-back loan is secured with the property. The loan then becomes the primary mortgage and is fully secured by the property. In most seller take-back financing transactions, the buyer repays the seller with interest in accordance to mutually agreed terms over a period of time. Usually, the terms call for the buyer to send the payments, consisting of principal and interest, on a monthly basis. This is advantageous because it creates a steady monthly cash flow for the note holder. And if the note holder decides to cash out, he or she can always sell the note for a lump sum cash payment.
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