I want to sell my house in Hampton – so where do I start? Well let’s get into this topic so you can sell your house as quickly as possible.
So I want to sell my house – where do I start? Perhaps a new addition to the family, you need another room, maybe the kids have gone off to university and it’s time to begin to downsize.
Well as these changes have come about in your life and you’re considering the next step, the first step you need to take is to make sure you get a good realtor to help you in this process with selling a house fast in Hampton.
There are a number of ways you can go selling a home.
One way is you can ask a friend or a family member that has dealt with a realtor recently and go with a referral like this, another way is just to call a few of them and interview them and just see if there’s a good connection between you all, but whatever you decide and however you go about this process, it is important that the realtor you find is a realtor who can aggressively market your home.
How to Sell Your House for More Than It’s Worth
Now you can put it on an MLS which is a multi listing service, your Realtor will help you do that, that’s not a problem.
We will all do that and just wait for the right kind of traffic to come across this and there you go, you’ll find somebody that may be willing to put down what you want or enter into negotiation for that house that you’re going to sell fast in Hampton.
But if you find a realtor who does more than this, a realtor who aggressively markets the house with various forms of media, that house is going to sell, and it’s going to be at the top of the pile and getting more traffic than homes that are just listed and using the old school method just waiting for traffic to go by and hopefully you’ll find somebody who will match up with the property well.
Can I Sell my House While my Divorce is Pending?
So choose wisely, make sure that you have a realtor who can do good marketing for your home.
So once you find your realtor it’s important to spend some time to speak to your realtor about your home and how you can better present that home.
You know today many people watch real estate programs on HGTV and various other stations and of course their expectations as a result are very very high. It’s ok that you want to sell my home as is in Hampton.
Talking about Model Homes and Selling Your Home Fast
Also many go to new builds and in those new build sites they have model homes and these homes are done immaculately so obviously their expectations are very very high.
But if you take the time to just walk through your home with your realtor, this can be very helpful. You’re almost ready to Sell Your House Fast!
If you do an assessment room by room you’ll know exactly what to take care of and this doesn’t necessarily mean that you’ll have to break the bank in order to do expensive remodeling or expensive staging of your home.
Just taking a little bit of time to take care of this in a good way with your realtor can make all the world of difference and get that home sold right away in Hampton!
In the description to this video you’ll find a link to our PDF on ‘How to Prepare Your Home for a Successful Sale’, this will really help you with this step.
Remember, it’s very difficult to change a first impression.
One of the most important things to get right is the pricing because you have to know that you can Sell My House Fast in Chesapeake or any area in Virginia.
Pricing your home right will determine whether or not it is sold quickly or it sits on the market.
The real estate market is soft. It is truly a buyers market. In addition, the ability for a buyer to secure a new mortgage has reached unprecedented levels craziness. To get a new mortgage these days, a potential buyer has got to have almost pristine credit along with backup savings and a long, stable work history.
I am in the business of buying investment homes and then selling them for a profit. In the following paragraphs, I am going to describe how you can sell your house quickly. You will not have to pay realtor commissions. You will not have wait 45 to 60 days while your buyer gets a blessing from his mortgage company. You will not have to put up with all the back and forth price dickering. You will truly have the upper hand here.
The very first you need to do involves some work. Your house needs to be marketable. Now, I am not going to go into all the specifics of updating your house here. You will find that in some of my other articles. Suffice to say, drive up appeal needs to be good, the inside of the house will need to be updated, uncluttered and clean.
Now that your house is ready, take pictures of the outside front, living areas, kitchen and baths. Take some time and search your area online for three good web sites to place an ad. Craigslist might be one of them. Your ad headline will read something like this: Rent To Own Home. Easy Qualify.
I know what you are thinking, I do not want to be a landlord. I know, I get it. But read on, it gets better.
The type of buyers we are going to attract are people who may be self employed. They make a good living and have cash but do not necessarily show a great deal of income, because of expense allowances, on their 1040 tax form at the end of the year. Your buyer may also be coming off a divorce that forced them to into a bad situation. There are other scenarios, but basically you have good people.
Your offer to a potential rent to own buyer is this: You will lease the house to them for a specified period of time. Typically, one year is good. The amount of rent paid should be more than the amount you need to pay each month on your mortgage. That includes taxes, insurance, p.m.i. or other monthly expense you incur on the house. Positive cash flow is essential. You should expect to make at least $100.00 to $300.00 per month in positive cash flow.
The damage deposit you will require will be high. Typically a deposit is one month rent. In your case, because you are offering to sell the house on an option, the damage deposit will also function as the option deposit. The amount can be anywhere from $2500.00 to $30,000.00 or greater. I like to see a minimum of 5% of the purchase price paid upfront.
The wording of the lease must also include a statement that the renters, because they are buyers to be, will be responsible for all upkeep, maintenance and repairs. In other words, they do not call you when the water heater goes out or the toilet backs up. They agree to take on all those responsibilities.
You will then write up a separate option agreement. The option period should coincide with the term of the lease. the option allows the renters to buy your house in a specified period of time at a set price within that period of time. The option agreement should state that the damage deposit from the lease agreement is to be applied to the purchase price of the house. The agreement should read that the option deposit is nonrefundable.
If your would be buyers turn out to be not so good or walk away from the lease, remember that you have a very sizable damage deposit with which to get the house ready for a new buyer and pay for your mortgage during the down time.
This is a great deal for the buyer who cannot quite qualify for a mortgage. They get to move into a great home right away with very little resistance. Meanwhile, the option allows them time to fix their credit report and lower their debt to earning ratio or whatever else they need to do to qualify for a bank mortgage.
But most of all, this is a great deal for you! You set the price. You get a substantial amount of money upfront. The renters pay your mortgage for you. You make an additional monthly income on the positive cash flow from the rent. You do not make repairs or become a landlord. When it comes time to sell, there are no realtor commissions to pay, among a host of other normal costs like a homeowner warranty.
When the day arrives that your renters call you and say they are qualified and ready to buy the house, you will meet with them and write up a purchase agreement. The purchase agreement will state the price they will pay for the house, which side will pay for each type of closing costs and the date that the closing will take place. Everyone involved will need to sign and date. If a person is married, most states require the spouse to sign as well. Take the purchase agreement to a title company and inform the new mortgage company where the closing will take place.
Also, remember that the income you receive from your renter pays for your mortgage liability and then some. Therefore, there should be no problem being able to secure a new mortgage for you when you move into your new house because the house generates income over and above the liability.
The pricing of your home must reflect the true market value.
You know today many people have access to a lot of applications that help them see what’s on the market in a particular area, to know the homes that are there and what they’re being sold for, so it’s important that you do a little homework yourself, get informed of the market area where your home is located, find out how much the homes are being sold for in that area, but most importantly here is where you’re agent, your Realtor is so important in helping you get Cash for Home Fast.
You know yourRealtor is very informed of the market area, I mean this is what they do for a living day to day, they will be able to get the home priced right.Adam Buys Houses CompanyBlockedUnblockFollowFollowingJul 24, 2017Avoid the wolves in sheep’s clothing.
You want to sell your house but are wondering how you know it’s one of those “we buy houses scams”.
Be aware of those we buy houses scams. This is a very important topic to cover. I wouldn’t feel like I’m doing sellers any justice as a real home buyer unless mentioned ways to avoid predatory scams in Denver Colorado. As the market here gets hotter and hotter, more and more people want to take advantage of the situation in a bad way.
Have those advertisements for people saying, ‘we buy houses’ caught your eye and made you question whether they are we buy houses scams? This is a very real concern for people considering this kind of service.
Trying to sell your house fast in Denver? Are you concerned that you might get taken advantage of or have the wool pulled over your eyes?
Join the club.
The traditional way to sell a house is using a real estate agent and having them list your house.
Maybe you would rather skip the hassles and sell to a Denver cash home buyer instead. Every year, thousands of people sell their homes directly to investors rather than listing with an agent. In fact, nationwide, 5.5% of home sales were to investors according to a report by RealtyTrac.
If you’ve never sold a home before or never sold one without the services of agent, it can be quit scary. It can seem downright overwhelming. Most people may be buying or selling a property a couple times in their lifetime.
I’m going to share some tips for you to make sure that who you are working with is a legitimate house buyer and not someone looking to scam you. By the end of this article, you’ll be armed with what you need to know to choose the right company to buy your house.
The Sniff Test For We Buy Houses Scams
There are a lot of legitimate house buyers in Denver, but there are also some people that are running we buy houses scams. It can be difficult to know which one you might be dealing with.
The stakes are high. People have lost lots of time, money and even their houses to scams run by people that don’t have any sort of moral compass.
It can be difficult to determine if who you are dealing with has your best interests at heart. Most of the time there are “tells” that will clue you in to their true intentions. These signs can mean you are caught in some of the we buy houses scams being used today.
The Three Most Important Things to Look Out For
- Upfront Money and Application Fees — If a house buyer wants you to pay them any kind of fees to evaluate your house, run away as fast you can. This person is likely a scammer. Honest home buying companies don’t make money charging application fees or asking for money. They make their money from buying houses, fixing them up and either renting or selling the house. I’ve had many sellers in the past even mention to me that they were told to put up the earnest money deposit to sell there house. Again, run fast if you’re ever asked to give any money.
- “Kitchen Table Closings” — If a buyer wants you to sign over the deed to your house anywhere other than a title company or attorney’s office, you’re likely going to be making a costly mistake. Any sale you have should happen at a title company so that you can make sure the paperwork is handled properly and all liens are taken care of. The sale must be recorded with the government to prove new ownership and the sale of the property. If the government must know that why would you sell in secrecy?Please do not mistake this for signing a contract to sell your house. A Purchase and Sale Agreement is the very first step in the process to selling your house. That can and probably will happen at your house. Just don’t sign any Warranty Deeds, Quitclaim Deeds without the services of a real estate attorney or title company.
- Too Much Information is Given — Phony bank statements and pre-approval letters for loans are given without being requested from untrustworthy real estate investors. These investors present these documents to make them appear legit but these documents can easily be faked. There is no reason for an investor to asks for driver license numbers, social security numbers or even your date of birth. The title company will be the only one asking for that for verification of owner on title. The only thing the home buyer should legitimately ask about is your situation and the condition of the property so they can find a solution to your problem with what you need and so they know how much they can pay for the home.This occurs a lot when the supposed “investor” lives in a different city than Denver Colorado and communicates almost entirely by email. I don’t know about you, but I’d rather work with somebody local that I can meet face to face. Just because they are not local doesn’t immediately make them a scammer, but I sure would rather know who I’m dealing with. With technology nowadays it should be difficult to make a phone call or use an app like FaceTime or Skype to communicate from a distance.
Scammers Don’t Always Look and Act Like Used Car-Salesmen
It’s not always easy to pick out who the scammer is in a crowd.
Sometimes it’s the overly nice person.
Sometimes it’s the straight and to-the-point always in a rush person.
Don’t let your guard down just because someone smooth talks you. You need to get the facts about who they are and what they can do for you.
We will discuss exactly what to ask for to determine whether you are dealing with the right kind of house buyer or not later in this article.
It may seem impossible to determine whether someone is genuine or running we buy houses scams…but it’s not.
One way is to trust your gut. If something doesn’t seem right…it probably isn’t and could be one of those we buy houses scams. It also could be someone having a bad day or simply just needs to use the restroom. Okay, all kidding aside it’s best to at least be aware of we buy houses scams and that’s the point.
Another way is to determine whether their actions match their words. Actions always speak louder than words and I’ve found them to be very telling about people.
If a Denver home buyer says he or she is going to meet you at your house at 2:00pm on Wednesday and they show up at 2:40pm.. they certainly don’t value your time or respect it.
If they walk through your house and tear it apart with harsh words about the house or your situation, you are probably dealing with someone that could care less about your feelings or what you get out of the deal.
Harsh words about your house are solely intended to force you to lower your opinion of the value of the house. This type of investor may as well be wearing a plaid suit and lots of gold chains.
A respectable and reputable real estate investor will always treat you with respect. They will show up on time and show empathy. When viewing houses, trustworthy house buyers will look for the positive aspects of the house as they know full well they will be making repairs and breathing new life into the home.
Other Not-so-obvious Semi-We buy houses scams
There are many other situations that I call ‘semi-scams’ to watch out for. These may not be illegal or full-blown we buy houses scams but are intended to take advantage of you and your situation.
It’s best to avoid these at all costs with we buy houses scams.
- Sub2 or Subject To Scams — Some investors use a strategy called ‘Subject To’ or Sub2 when using shorthand. This is where they buy your house from you “subject to” the existing mortgage. They will want you to deed them the house without paying off your mortgage.The biggest problem with this is that the mortgage is in your name and, if it goes unpaid, directly impacts your credit!It’s pretty easy to see why this type of deal is important to avoid. You would basically be trusting an almost complete stranger with your credit. No thanks!
- Conflict of Interest Scams — One I often hear about is a real estate agent not disclosing they are an agent and offering to buy the property. Only later to say they changed their mind and would rather list it. This goes against the NAR Code of Ethics 2016. What is happening is they are looking for a way to make money no matter what happens and are only looking out for their best interest. People should be absolutely clear on their intentions from the start. Too much wishy washy commitments usually means something is wrong.
- Short Sales Scams — Short sales are where a bank or mortgage company agrees to release their lien on your house in exchange for less than the principle balance of your loan. Typically, you have to pay off any principle balance and interest due for them to release the lien. When they agree to accept less, you are performing what is called a short sale.A short sale in and of itself is not a problem, it’s when this is attempted when it doesn’t make sense that causes a lot of problems for Denver Colorado homeowners.If you are behind on payments but have a lot of equity and a home that doesn’t need any major repairs, you might have an investor convince you to attempt a short sale.Short sales can drag on for months and the bank may wait until just before a foreclosure auction to deny it. Then what are you going to do? You won’t have time to sell it. It’s almost certain to be lost to foreclosure.Some careless investors don’t give you all the facts when they attempt a short sale on your house. You also need to be aware that even if the bank agrees to take less for the lien to be released, they could put a deficiency judgement on you for the amount the loan was shorted. You will probably also have to report the amount shorted as income which could cause your income tax owed to be a real problem for you.
How to Avoid These Potential Scams
Do your homework to avoid we buy houses scams.
With some quick research you can easily determine whether somebody has a history of doing what they say. You can also find out if they’ve been in business for a while which shows they are stable and worthy of your business.
Crooks rarely stay in business long and almost always have negative reviews.
- Check testimonials — Be sure to look for online reviews and testimonials for the house buying company you are considering. Any reputable business will have statements from previous customers that can attest to how they do business. You can read dozens of reviews from customers upon request from Adams Buys Houses. Take a look at them for an example of the types of things you will find for any honest business owner.
- Check the Better Business Bureau — The Better Business Bureau (known as the BBB) allows consumers to leave reviews and rate local businesses. You should only work with house buying companies that have a strong rating with the Better Business Bureau. If they don’t have a rating they may be new or not have an LLC yet but it’s still a great thing to look into.
- Make sure to close at a title company — There is so much legal talk in contracts and deed documents that you simply must have a title company or real estate attorney handle the closing.This is to ensure that everything is done properly.The last thing you want is for something to be done incorrectly that you have to deal with years down the road.You could even run into a situation where you are sued because something wasn’t handled properly.Title companies provide title insurance that will protect you from most of these problems. It’s definitely worth it.
- Don’t sign documents you don’t understand — This one seems to be common sense but is definitely not common practice. If you don’t understand something, don’t sign it.This is also where a good real estate attorney or title company can be worth their weight in gold. They should be able to break it down for you in layman’s terms so that you know what you are getting into.Great house buying companies will also take the time to clearly explain everything you are agreeing to in a way that makes sense to you. They are not in a rush and don’t sound confusing. If you find you are working with someone not willing to do that, don’t work with them. Find someone else that buys houses.
When selling a house fast to a local house buying company, you should be aware of the signs of potential we buy houses scams.
Armed with the knowledge from this article you are much better prepared to find a great house buyer for your house that will treat you with respect and do what they say they are going to do.
If you would like to get a fair cash offer for your Denver house, do not hesitate to give us a call at 303–558–5843. We would be glad to answer any questions you have and help you in any way we can whether you sell to us or not.
I Want To Sell My House in Chesapeake - Where Do I Start?
That price will reflect the true market value
If your home is sitting way too long on the market, what’s going to happen is that a prospective buyer is going to start to think, hey what’s wrong with this house, why isn’t it selling and these questions are going to really cause traffic to diminish. It’s tough to simply want to Sell My House Fast and expect to have eager buyers wanting to pay Cash for Home Fast too.
Research shows that between the third and sixth week of the marketing process that’s when the most potential buyers are attracted, so it is important that, first your home has the right pricing and second that there is good aggressive marketing behind it.
You want to maximize traffic that’s going to view your home, draw them in to visit the home and put an offer on that home.
As I mentioned earlier, the visual presentation of your home is very very important.
You know first impressions are very very hard to undo so you always want to create the best possible first impression.
For this reason I don’t recommend that you do mobile phone pictures.
Get a realtor who is going todo professional quality pictures.
You know today on search engines when people are looking at multi listing services and they’re viewing the pictures, usually when a picture is presented if it’s of poor quality they’re probably only going to view the first few pictures and they’re gonna move on to the next property, and this is something you don’t want to happen to your property.
Getting good quality pictures will keep them glued to that screen and they can really consider your house the way it should be considered, and actually today even video production is a very important part of the marketing process, so if your realtor is able to produce a video for you, this is ideal.
You know this will really maximize the amount of eyes that will be looking at your property and considering it for the next purchase.
When it comes to marketing your home, gone are the old days of sitting in the backseat of your real estate agents car or following along behind and looking at multi homes.
Today the Internet has changed the whole experience for good.
Today people are on multi listing services, they are also watching videos that are aggressively being marketed through social media, so it is important that you’re estate agent, your Realtor is up-to-date with all the modern modes of marketing, so make sure you make this one of your criteria in choosing your real estate agent.
That way the right kind of marketing will be put forth and experience maximum exposure of your home and really entice those buyers to come and put an offer on your home and get it sold quickly.
If you found this video helpful, please subscribe, we’d love to have you on board with us, we have a lot of helpful videos coming out that will have information that you’ll find useful whether you’re a buyer or you’re interested in selling property.
Also share this with a friend and leave a comment in the comment section, also if you’d like to call me, call me at the number that you see below, I’d love to hear from you and talk property with you, also remember that there is a PDF thereon ‘How to Prepare Your Home for a Successful Sale’, anyway, until next time, all the best!.
Sell My House Fast For Cash – Can I Do That in Hampton?
Hi I'm Meagen Mackenzie and this is the channelwhere you will get useful tidbits to help you buy, sell or simply love your home.
Andon this week's tidbit, I'm going to go over the must do repairs for selling your home.
A beautifully staged home is the perfect wayto wow buyers.
But just because it looks nice, it doesn't mean a buyers going to overlookareas needing repair.
So it's really, really important that you prepare your home so thatit passes a buyers white glove inspection.
Fix any leaking faucets.
Buyers will definitelypick up on that and wonder why it hasn't been fixed and whether or not there are other leakingproblems under the sink.
Clean and re-caulk bathtubs and vanities.
Because these are high traffic areas, sometimes the caulking can discolour and peel.
A nicewhite fresh caulking around the tub cleans and brightens it right up.
Clean the gutters.
Although you can't seeinside the gutters from the ground, you can easily see them from an upper floor window.
Or a home inspector will surely identify gutters that have't been maintained.
Don't leave abuyer any reason to question how well the home has been cared for.
Patch and fill any holes or scuff marks onthe walls and repaint them if necessary.
Scuffed up walls are a real turn off to buyers.
Scrub and repaint the front door if necessary.
It's the first thing that buyers will see, so if it's in rough shape, give it a quickfacelift.
Touch up all the baseboards.
These can getscuffed up pretty easily.
A good scrub and some fresh paint will make them stand rightout.
These are just a few ideas but because everyproperty is different, the list of repairs will be different.
A good realtor will walk through your homewith you and give you a list of things that you should do to prepare and repair your hometo list.
I hope you enjoyed this week's tidbit andif you did, please like, share, subscribe or sign up to receive weekly tidbits to helpyou buy, sell or simply love your home.
Thanks for watching and we'll see you nextweek.
What All Millennial Home Buyers Should Know
This is a very common situation, these days; and it will become an epidemic.
There are millions of adjustable rate and Option Adjustable rate mortgages that will be "resetting" to a normal interest rate as their "teaser rates" expire over the next couple of years.
This will put severe financial pressure on families who were able to buy their homes only because of those artificially low payments in the first place.
Many will be unable to refinance or even sell their homes because of the looming glut of homes on the market and the stalling of price appreciation.
Many of these people have little or even negative equity in their homes, which compounds their difficulties as realtors will not list their homes, as they see no way the home owner can pay their commissions.
These people also have little to no flexibility to reduce the price of their properties because the mortgage payoff and the closing costs will require them to bring cash to the closing to buy their way out of their homes.
Also, these homeowners will have a diminished fervor to stick it out through the hard times just around the corner if they have no equity, abandoning their homes and adding to the greater problem.
The ultimate nightmare is for people in this situation to be forced to sell their homes for financial reasons. They are headed straight to financial ruin; bankruptcy, foreclosure or both.
Selling a house is a Marketing problem. If I recall from Marketing 101, a product will be successfully sold when you position it as the most competitive product in front of the largest possible market. Painting the porch is not going to make your house the most competitive; everyone else is painting their porch too.
What if you could offer your house for sale and the buyer did not have to qualify for a new mortgage, do you think that would make your house stand out from the rest of the competition? This one change would also double or triple the size of your potential market of buyers. There is a "shadow market" of people who would love to buy a house like yours only they will not or cannot go through the "inquisition" of being qualified for a bank mortgage. These people include small business owners, self employed professionals, including real estate investors; foreigners and, yes, those with stinky credit!
They have the cash to put down and the ability to carry the payments, they just don't want to hassle getting a mortgage and they will be very grateful to be given the chance to buy a property with no bank involvement. How grateful? We have found that they will jump at the opportunity, pay 15-30% more than the appraised price of the property and will also pay a higher monthly payment as well, which can spell P R O F I T in addition to a quick sale at or above market value. There is only one way that will allow you to sell your home without paying off the mortgage and that is with a properly structured land trust. The trust will prevent the bank from foreclosing on your mortgage for violating the due on sale clause.
An added bonus is that when you sell the property in a land trust, there is no tax due on the gain; especially important if it is an investment property or a residence that has appreciated beyond the statutory exclusion of $250 or $500,000. Now, you can sell your property quickly, take a nice down payment, receive hassle free monthly payments; in excess of your mortgage payments for years and possibly another lump of cash when the buyer sells the property or refinances your mortgage. I say, "hassle free" payments because you will have no tenant, toilet or trash responsibilities to the new buyer. You don't call the bank that holds the title to your car if your water pump fails, do you? This has been the way out for many of our clients who were trapped in their homes and can work for you as well. Discuss this option with your realtor or lawyer.