SELLERS…this Lease/Purchase Program can help you as well! If you are slightly behind on payments or if you owe more than your home is worth, Pre Property Solutions can possibly help you as well. Click here to learn more by listening to Chris’s interview.
BUYERS…Are you one of the many people out there that want to own a home but cannot get a loan? It may be past credit issues or unfortunate life events that have put you in a spot where you think you are stuck. That may not necessarily be the case. Chris Prefontaine from Pre Property Solutions was in studio talking about how their Lease/Purchase Program has been successful in helping many people achieve their dream of home ownership. Click Here to learn more about how this rent to buy program could help you.
Understanding how owner financed homes for sale in Massachusetts works is easy: the seller finances the buyer’s purchase and assumes the role of a bank. This topic may be very unfamiliar to many people who plan to sell their property during tough lending conditions and a sluggish real estate market. This option presents an opportunity for buyers and sellers close deals in a way that may not be possible with traditional financing methods. Although more difficult, owner financing could mean the difference between successful deal or failure to close. Here are a few basics to help you make a successful sale.
Examine and Maintain Documents
Although sellers who choose the owner financing option tends to be more flexible, you should nevertheless think like a bank when speaking with potential buyers. It is important to examine documents such as proof of employment, credit history, and tax paperwork in order to determine a buyer’s ability to pay off the loan you are financing. In addition, you will need to get the mortgage recorded with the acknowledgment and specific execution requirements for the state of Massachusetts. You will also have to work with a title insurance company to conduct a title search and then purchase title insurance. Keep these costs in mind as you conduct this type of transaction.
Once you have made a deal, the documentation is all that is required to complete in order to close the transaction. There may be several types of documentation required depending on the type of property you are selling. Most home sellers hire a lawyer or a real estate agent to help with this process. Documentation should be the least of your worries as a seller and it is quite easy to get help from an experienced professional.
Understand the Risk
In most cases when selling a home, sellers prefer to have cash upfront instead of waiting for the buyer to pay them later. Thus, you should consider the risk involved by participating in this type of transaction because the buyer may not pay you in full. There are also situations when the buyer may experience financial distress later on down the road and the payment stream becomes disrupted. As a result, you as the seller absorb the risk of nonpayment and this can be very difficult to recover from. In addition, it is also difficult for sellers choose the best loan term since there may be a higher risk than what is first initially perceived.
Make the Decision Early
Seller financing involves serious risks and you should definitely take the time to do your homework and decide if this is the right option for you. This decision should be made very early on when you begin the process of selling a property especially before you are given any offers. Once again, it is a good idea to consult a professional real estate agent who can help you with financing and financial documents as well as provide advice throughout the owner financing process.
Real estate investments are known as one of the best kinds of investments because there is a rare chance of facing a loss. As the economic situation in the country continues to fluctuate, investing in real estate for sale in New Hampshire is one of the safest investment plans. If you intend on getting a good financial return on your investment property, you made a good choice because properties in New Hampshire are one of the best of its kind. Whether you want to buy land, a condo, or a house, you can be sure that a New Hampshire investment property will provide you security and stability.
One of the biggest advantages when buying real estate for sale in New Hampshire is that you can use the property as rental. This state attracts tourists, professionals, and students due to its lucrative economy and famous colleges and universities. Attractive cities provide parks, gardens, hotels, restaurants, and several other entertainment attractions which makes this state a great place to live. As a result, there is always a demand for rental property. This would not only provide you a steady income, but it also helps to reduce your taxes indirectly.
Unlike the stock market and other types of highly volatile investments, investment property in New Hampshire is not subject to irregularity. If you decide to get a loan in order to have the necessary funds to pay for this investment, you will not feel that you are prone to any danger of loss. Investors prefer New Hampshire investment property because it has a reputation for providing solid returns without any need for worry.
Location is Important
Before making the decision to buy an investment property, it is extremely important to choose the right location. Therefore, it is important to do thorough research and study the market carefully in order to make the right decision. You should make sure to make a visit to the location you are interested in investing in. You can ask around to find out demand for rentals in the area and other factors which will help you determine if it is a good investment.
Understanding the Risks
When determining if an investment property in New Hampshire is a safe bet, you should know the risks. If you have a rental property, there is the potential for nonpayment of rent from tenants. This irregular flow of money could be a problem if you have taken out a loan to cover the investment. Although this type of investment is considered one of the best and safest plans, you may want to prepare yourself in the event that nonpayment of rent occurs.
A Good Choice
Overall, real estate for sale in New Hampshire is an excellent choice for not only investors but also first-time homebuyers and second homeowners. This area is one of the best places to invest in the country in terms of real estate and it is also a great place to live and play. Do your research well and you can find a great investment that will help you reap maximum benefits.
If your goal is to sell your home as a for sale by owner listing, you should be well prepared several months in advance. There are three way that you need to prepare yourself for this type of transaction: emotionally, physically, and financially. During the long period of months and weeks that it will take in order for you to sell your home, you will need to work in all three of these areas in order to accomplish a successful transaction. Here are four big mistakes to avoid with real estate for sale by owner in Rhode Island to help you have a smooth and moreit’s satisfying transaction.
- Setting a High Price
Sellers who do not seek the advice of a professional real estate agent are required to do their own research to determine the right price to set. This research involves comparing similar homes in the area to find out what they are selling for. It is good idea to look at the most recent sales available and also take a look at listing prices for other houses on the market that are similar to yours in terms of location, size, and condition. This information will help you determine what price to set for your home. If your price is set too high, the cost you a lot of time and money because your house will sit on the market longer. You do not want your house to become a stale listing because it sat on the market too long.
- Not Prepping the Home for Sale
Since you are selling the home as for sale by owner and may or may not be working with an agent, one of the most important things you must ensure is that your house looks in its best possible condition which means it must be empty of clutter and completely clean. However, you must also remember that you should not spend too much money on trying to fix up the house because you may not always get a return on your investment. It is a good idea to concentrate on inexpensive improvements such as cleaning baseboards and walls, adding a fresh coat of paint, improving the landscaping, or polishing the faucets and door handles.
- Not Enough Photos
These days, most homebuyers begin their search for a new home by going online. When doing so, the first thing they want to see are the photos in order to determine which properties the buyer may want to see in person. You always want to make sure that you include several photos with any online listing. These photos should showcase your home in a way that makes it look very attractive to buyers who are browsing the Internet.
- Not Making Sure That Buyers are Qualified
One of the risks when selling a home as for sale by owner is that many sellers failed to get proof from potential buyers that the sale will actually be successful. Before taking your home off the market as being sold, you should always make sure to get a prequalification letter from any potential buyer. Failing to do so may result in the risk of a failed closing and you may lose the motivation to continue marketing your home for sale.
Real estate for sale by owner in Rhode Island can be handled easily with the help of a real estate professional. There are many companies in the Rhode Island area that provide FSBO assistance to sellers who would like a smoother transaction. Contact a local agent to discuss your options and learn the best way to sell your home quickly and easily.
The state of Massachusetts is showing strong signs of an improving housing market. In fact, the Boston area is one of the most promising locations in the state due to solid job growth and a low vacancy rate which has spurred much construction in the area. As more and more young adults in Massachusetts are returning back to the workforce, the rental demand increases as well as the need for new construction. If you are a homeowner and you feel that it is right time to sell your property, you may be asking yourself, “What is the best way to to sell my house fast in Massachusetts?” Here are a few answers.
Clean the Clutter
If you want buyers to picture themselves living in your house, then it is important to remove clutter from the home.
Tasks may include:
– Removing furniture to give the room a bigger appearance
– Cleaning the exterior (Removing leaves, trash, or any other debris)
– Putting away family pictures or other personal items
– Improve landscaping
– Hiring a stager
Separate Yourself Apart from the Neighbors
To more your home more memorable and attractive to buyers, consider additions or custom designs such as high-grade windows, a new roof, or improved landscaping to improve the home’s aesthetics. These additions or improvements will more than likely add more value to the home as well. Since improvements should be intended with the buyer in mind, take time to find out which improvements or additions appeal to the widest audience of buyers.
However, it is important to keep in mind to not overdo it. You should only invest in improvements that will be most likely to give you a good return. Make sure to do your research. If you have made additions or improvements to your house, then make sure it is included in the listing information for the home. Since the real estate market is competitive since there are many other sellers, you want to do everything you can to get a small edge.
Make it Ready to Move In
You should make sure that electrical and plumbing fixtures, doors, and appliances are all in working condition and in compliance with current building codes. You want to give the buyer the impression that the home is ready to move into right now and there will be no need to spend time and money doing repairs and fix-ups.
Improve External Appearance
As mentioned before, the exterior is important since this is the first thing the buyer sees. Make sure that the house fits in with the surrounding neighborhood. If the house needs a fresh coat of paint or if the bushes and lawn need a manicure, make sure to have this done before attempting to list your house for sale.
Consult a Local Real Estate Agent
To get the best results and totally streamline the process, consult a local real estate agent and see what other similar homes are selling for in your agent. A reliable agent is your resource for learning the best way to sell your house fast. Using these tips along with an attractive price, you will be far ahead of the game to sell your house fast.