When you are trying to sell the house and get immediate cash in just a few days is not a very big difficult nowadays. There are certain tips the can help you sell the house faster and get good cash. As the market is very high, investors are always looking to buy houses for cash. You can also make a profit here.
The Appraisal Process: Your lender will call for an actual appraisal to be conducted by a licensed real estate appraiser. If your huis te koop Meerssen has done a great job on the Comparative Market Analysis (CMA) then you should be in the same ball park as the appraiser. The appraiser is what your lending institution is using to ensure that they have a good investment in this property since it is the collateral they are loaning the money on.
It is advisable to interview several real estate agents before you commit to using one. Remember that the agent will be representing you in all real estate transactions. You want to find one who understands your expectations and who can represent you effectively. By interviewing each agent, you can determine which one is the easiest for you to work with.
So what happens now your fifteen viewings are out of the way, and you have now found your buyer? All cut and dried? Certainly not. Your buyer will need to make arrangements for his mortgage, and deal with selling his own house. This can delay the process for up to a further two months. All this time the buyer is still under no obligation to go through with the deal, leaving you with the stress of still paying your mortgage, still uncertain whether you have a sale or not. And herein lies another problem. Buyers are notorious for pulling out at the last minute, changing their minds at the eleventh, most inconvenient, hour. It may not totally be their fault. They may be part of a chain that has fallen through. According to some recent statistics, one in three property transactions fall through.
Spending an amount big enough to finance a home is something a lot of of us cannot afford right on the spot. That is why, asking for a loan is crucial for most of them. In order to be accepted, you need to make sure your credit record is as clean as possible. It is advised that you have copies of your credit report some months before you begin shopping for a home so you know what to expect.
Again, it comes back to demand. Online rental postings for studios run $1100 – $1200, while two bedrooms suites are $1700 – $1900. It seems tenants are willing to pay a good price per square foot so as not to put up with roommates that eat their food and don’t pay rent on time. The fact is, if they could afford almost $2000 a month themselves, they’d probably buy their own two bedroom condo.
In researching my morning paper Sunday in the Real Estate section, I found a quick article naming the top foreclosed subdivisions in my county. Finding this information will give you an idea of where the opportunities to find a deal are. Supply and demand do play in the economic environment of real estate which by theory means that if there are 100 foreclosed properties in a town of 10,000 homes, you would have more leverage that if that same town only had 1 foreclosed home.
It has been a long road to buy this short sale house. It has been a great financial move for my wife and I. We have purchased this house at 120K less than it is assessed at. But it was a long road and we had to be ready within a moment’s notice to close. As soon as the bank accepts the offer, they want to close and get the liability (house) off their record books. If you have the option of buying a short sale house, I recommend it, but remain flexible. Don’t try to buy one if you need to move right away. And always remember that no matter what the seller’s situation is, you are helping them out also and they too are humans.