Duration : 42 sec

[veoh v174941899EeFT32R]

Duration : 3 min 20 sec

[veoh v16779960a8wsRByH]

Duration : 1 min 20 sec

[veoh v20646661mkS45t4t]

Duration : 1 min 56 sec

[veoh v17257512Hed9KHfd]

The stars have lined up against many would be buyers with the amount of baggage they bring to the table in the way of challenged credit. They want to buy something. They need to buy something. Whether it be a recent bankruptcy, repossession, foreclosure, large medical bill collections, identity theft or judgements or recent unemployment any one of which can plummet a credit score and put the would be buyer in a financial hole. In a soft real estate market where owners need to sell and have a high degree of motivation to dispose of their property. This is the opportunity that a buyer with challenged credit history can seek to “help” a seller out of their current dilemma by arranging sale terms that will help both buyer and seller. These scenarios may not work for anyone who has zero options, zero income and zero means to pay anything back. It is rather, for those who are fighting their way back and do have options, have income and now have means to meet their obligations on a negotiated deal. This will not work if a buyer throws their hands up and gives up to the possibility of buying a property. This opportunity will work for those buyers who have a need as well as a burning desire in their belly to buy something that will meet their family goals and will do what is necessary to make it happen.

A buyer needs to be aggressive in their efforts to take advantage of this temporary real estate market. Some areas of the country have more opportunities than other areas. However, there are deals in every area. A buyer needs to find them. There is little reward for a buyer to deal with an unmotivated seller. There must be pressure on the seller to move the property. Whether it be for reasons of health, estate situation, job loss, divorce, out of state move, downsizing, upsizing, budget, cash flow or other reasons if a buyer with checkered credit has a shot of doing something. A buyer early on will need to come to the conclusion that the chance of matching the perfect house with the perfectly motivated seller will be slim. Therefore, from the get go the buyer must be willing to compromise on the purchase. The buyer must realize that this is not the last home they will buy, it is the first home they will buy with a high degree of challenged credit. The buy decision, although well thought out, must recognize the purchase is not permanent and is not fatal. It is simply a means to get into a property and get on the equity accumulation train, which will help them over time. So the search begins to find a motivated seller while being somewhat flexible while not having unreasonable expectations that will not fly with the current credit circumstances.

Buyers can try to do it themselves or choose to bring in a professional realtor who knows the market. Right now a lot of realtors have a lot of time on their hands. Six months ago when the market was raging, that was not the case. What a difference a day makes. The criteria then on a broad based approach would be to find a vacant home, on a realtor lock box, with a lower mortgage balance and with a high seller motivational to move the property. If a property is not listed, then the seller may not be motivated enough for a buyer’s purposes. They are not serious enough. If a property has had three or four price reductions in the last few months in the Multiple Listing Service this would be a sign of a motivated seller. Likewise if a seller has indicated a willingness to pay for buyers closing costs, hold a second mortgage, consider a lease option or a lease purchase, these are all signs of the degree of seller motivation necessary for a buyer with challenged credit to find a workable property. Early on in the realtor selection process, a working relationship must be established with a realtor who is willing to make multiple offers and does not take rejection personally until an acceptable deal can be negotiated.

At the same time, a mortgage broker will need to be contacted to determine exactly what is possible in the way of a first mortgage. Banks are not geared to do what will be required to make a deal with challenged credit. It will be assumed that in spite of the past history, the buyer now can make a monthly mortgage payment and may even have some cash to work with. Cash can be gifted from parents or other sources if necessary. The results of the mortgage broker interview will dictate what and how the deal will need to be structured. Pulling credit will determine if the housing history is 0 x 30 (meaning no housing payments more than 30 days late in the last twelve months) or worse. Collections, judgements, repossessions or any other adverse challenge the buyer may face will be noted. From this exercise, a buyer will have a payment number in hand for their monthly housing expense including principal and interest, taxes and insurance and perhaps a maintenance fee (as found in an association or condo) all inclusive in the monthly housing expense. The mortgage broker and realtor will need to work in tandem to structure the deal that is achievable on part of the buyer. Many times, in the market place the deal is negotiated without any thought to the financing. Here it will be necessary to fix the financing first THEN find the house. Most buyers with a 580 score or better can get a 95% Loan To Value first that allows a 100% Combined Loan To Value. This will no doubt be a subprime type loan with the first being one loan with no Private Mortgage Insurance (PMI). An offer might look like something like this:

Purchase price would be at say $225,000 with a 95% LTV first mortgage of $213,750 and allow a 5% LTV seller held second of $11,250. The rate on the first would be for this scenario 8.5% on the first and aggressively negotiate the same for the seller held second or less. A seller may rationalize that they were going to reduce the price another $10,000 in 30 days anyway and this way I get most of their cash now. Following then, the first mortgage of $213,750 with a rate of 8.5% with payments on a 2-year fixed ARM of $1,643.55/month. The second of $11,250 at say 8% on a 10 year basis would be $135.95/month for a total principal payment of the first and second of $1,779.50/month plus taxes of $300/month and insurance of $220/month for a total housing expense of $2,299.50/month in housing expense. With a subprime loan, collections and such are not included in the debt service calculation if they are old enough. So for a working couple if the lender allows a 50% debt ratio to income the minimum income on a full documented loan would be $2,299.50/. 50 = $4,599/month. Say the wife makes $3,000 per month and the husband makes $1,599/month then they would just make it. The seller would need to pay all the buyers closing costs and prepaids (tax and insurance escrows and advanced fees) and any buyer cash can be used for monthly lender reserve requirements.

In summary then, this is a temporary buyer’s market in most areas and to be successful buyers need to focus on motivated sellers. Even before looking at any property the seller’s agent must be interviewed to determine if there is a high motivation of selling the property by paying all the buyers closing costs and prepaids and perhaps hold a 2nd mortgage. If there isn’t, the buyer should not be looking at that property. If the buyer has a vacant lot, a small mortgage note, income property or anything of value like a boat or motorcycle can all be brought to bear on a deal. The barter and trading process is how America was built. Working in tandem with a professional realtor and a mortgage broker a buyer can enlist some professional help to meet the needs of their family even with challenged credit. It is not a static situation. During the first two or three years of this scenario the buyers need to put their financial house in order through family budgeting and planning with discipline to qualify for a better rate and terms on their mortgage and other credit needs for their families future. In a few years through a lot of hard work and sacrifice they can be out of their financial hole and back on an even keel.

Dale Rogers
http://www.brokencredit.com
http://www.sellerhelpsbuyer.com

Dale Rogers
http://www.articlesbase.com/credit-articles/buyers-being-creative-in-a-soft-real-estate-market-with-a-challenged-credit-history-65249.html

1.  Conclude that selling your business is the right step to take.

Selling a business is one of the greatest challenges and potentially, one of the greatest rewards any business owner will ever realize. Like marriage, career changes, and other major endeavors, it is not something that should be taken lightly. Serious contemplation of the risk vs. reward must be well thought out.

If there are business partners, their concurrence and support are, no doubt, essential. If you have family members directly involved in the business, their welfare and ongoing contributions must also be evaluated and taken into account. Selling your agency is certainly a decision that requires careful deliberation and potentially, collaboration among close associates, family members, and partners.

One of the biggest questions that you will face is whether the time to do so is right. Many dynamics dictate whether the timing is appropriate. Generally, the goal is to sell when the business is peaking on its trend of revenues and earnings. The old adage of selling high certainly applies here. Another adage to remember is that pigs get fed and hogs get slaughtered. The trick, more often than not, is staying ahead of the market curve, timing everything just right so that you can sell out just at the peak of the trend. Selling a business usually takes between four and twelve months, assuming everything falls into place. The risk to the agency owner, quite frankly, is that the acquiring entities are so tuned into industry trends that by the time the market begins signaling price compression, the acquirers are packing their bags, or at the very least, lowering their multiples. The valuation methodologies run concurrently with demand. If product demand or rate of return on revenue declines through market softening, the value of the distribution channel certainly will decline by relative proportions.

Sometimes the sale of a business is used as a succession-planning vehicle where the owner can easily liquidate his ownership interests in the business without disrupting the ongoing viability of the operations. This requires a careful fit between the buyer and the existing business. Most often, timing and market conditions are not as important; rather, it is up to the owner’s discretion as to whether it is right.

Often, agency owners face limited growth opportunities for their business due to the lack of capital. The desire to grow bigger is there but the capital is tied up in the business. By selling the agency interests to a larger, national company, this can release the liquidity from the company and allow the business owner to continue to manage it as a platform. Often times this represents a new opportunity for entrepreneurs to flourish. Being part of a larger organization brings new challenges; a change of business objective, and handsome rewards should the entrepreneur make a marked change in his new employer’s company.

All this being said, market conditions, personal and financial objectives all have to be carefully evaluated prior to making the commitment to sell.

2.  Consult with a business advisor and M & A lawyer.

This can be an important, often overlooked, consideration. Once you are determined to sell your business, it may be worthwhile to should seek the guidance of a business advisor and an attorney who is specializes in mergers and acquisitions. Many times, business owners depend on their local CPA and corporate attorneys. While these people are highly important and may have created value for the organization in the past, it may be better to have experienced specialists who can navigate through the acquisition process. The acquisition process encompasses many components and requires the understanding of the sequential events that generally occur during the process. These events consist of the business valuation, assessment of seller’s market opportunities, preparation of offering memorandums, review of the tax implications of a potentially complex transaction, and legal and financial due diligence. Additionally, there is much drafting, review and negotiation required for the definitive, employment, non-compete and option agreements. Arming yourself with these professionals will most likely provide you greater consideration, which will outweigh their costs by reasonable proportions.

3.  Clearly recognize the value of your business.

A business advisor can guide you here. Although this is not rocket science, it is important to be well armed with a clear understanding of the value parameters of your business. Acquirers will sometimes reduce their valuations to an “art form” and will not specifically disclose how they appraise your business. Establish benchmarks for an acceptable selling price that you are willing to tolerate. It is not an expensive to obtain a valuation, and well worth the investment when it comes to comparing it with a buyer’s offer.

4.  Avoid reactive selling.

It is highly recommended that you take the initiative and go to market under your own volition. Typically, this will provide a much greater chance of optimizing your sales proceeds. Being reactive and allowing the buyer to initially approach often puts the buyer on the defensive where you are subject to buyer timelines and pricing methodologies. They have you right where they want you; you are in their pipeline and they maintain control over the process. Do not hesitate to take the offensive and find the buyers before they find you. There is an overwhelming abundance of buyers in the marketplace; therefore, consider shopping among multiple suitors. A business advisor will prove to be extremely helpful here. Depend on your advisor to maintain control of the selling process while diligently and vigorously representing your interests.

5.  Present your company properly.

Typically, a business advisor will recommend putting an offering memorandum together after you conclude that selling your business is the right direction for you. An offering memorandum includes historical financial performance; business and market trends, ownership interests and pertinent tax information; forward projections; a narrative overview; and other historical information on the business. Additionally, it includes certain key metric information that is key to the business. The biggest mistake made by entrepreneurs is that they open their books and immediately provide an internally generated, cash basis, financial statement to a prospective buyer. The primary goal of any small to mid-sized business owner always should be to minimize their tax liability while maximizing their personal cash flow out of the business. Often, this skews the presentation of the business from a GAAP accounting basis, which really should be the means in which an agency is valued on. A business owner should carefully evaluate and quantify all personal expenses charged to the business and treat these as “add backs”, which ultimately increases the book income of the agency. Add backs are adjustments that a purchaser usually makes in “normalizing” the income of a business. More often than not, many add backs are over looked. If a buyer pays a multiple of earnings, the seller faces the prospect of leaving significant sales proceeds on the table.

Did you ever think about how other financial dynamics may misrepresent the performance of your agency? Remember taking Accounting 101 and learning about the matching principle? This states that in order to fairly present your financial statements, costs should be proportionately matched with revenue as it is earned. Insurance agencies are inherently put at odds with this principal when they present cash-basis financials. Think in terms of where the preponderance of expense is generated in an agency…creating a sale or placing business. Yet, when an insured elects to defer payments to monthly, quarterly, or even semi-annual mode, the agency commission income will follow the same payment cycle. The agency has expended a large amount of resource placing the business, yet they may have received only as little as 1/12th of the actual annual commission due. In order to clearly “match” costs with revenues, numerous adjustments such as accounting for deferred commission revenues, or alternatively, deferred acquisition costs, need to be taken into account to properly present the true earnings of the business. Remember, every buyer will value your business based on earnings. It is extremely important that you include all details that will assist in optimizing your agency’s earnings. One final and equally critical component of the offering memorandum is its ability to accentuate value creation for the buyer. In other words, to bring to the surface certain intangibles or revenue components that can and may create exceptional value for a prospective buyer. Recurring revenue is something that makes all buyers salivate. If the selling agency has a seasoned book of business with a robust renewal stream, this is a primary example of economic value creation. This may help to significantly increase the profit margins of the buyer. Examples of intangibles that may create value are the professional credentials or industry presence of the agency owner(s). If a buyer is looking to create a platform or to have the buyers business play a key role in their operating scheme, the intangible value of a mature, well respected, management team is an intangible that will receive higher consideration.

6.  Evaluate all aspects of the offer in detail.

If you elect to subscribe to the recommendations set forth thus far, the next step is to send the offering memorandum out to prospective buyers. Generally, buyers will need to perform preliminary due diligence prior to formally presenting an offer. This will occur after receipt of the offering memorandum and prior to the offer. Offers generally are presented in a non-binding letter of intent (LOI) and are generally time sensitive requiring the agency owner’s acknowledgement and acceptance of the offer in writing. The best way to characterize this stage is to compare it to getting engaged. There is intent for the two businesses to formally proceed, but either party can terminate it at any time prior to closing. A LOI is always contingent upon the buyer’s satisfactory completion of legal and financial due diligence. Is the LOI negotiable? Absolutely. Again, the value of a business advisor can be enormous during this phase. They can draw upon their experiences and recommend items which should be negotiated. There are numerous components included in a LOI that go well beyond the price offered for the sale of your agency. All of these components are critical and need to be carefully evaluated. Some examples are the long-term value of stock options, employment agreements, non-compete covenants, deferred purchase consideration, hold-back provisions, base compensation and benefits, contingent bonuses or performance incentives, and the tax treatment of the transaction. Examine how deep the acquiring entity goes in your business to make offers of incentives, employment agreements, stock options, etc. It is important that you evaluate these matters carefully. Remember the importance of your key people in the day-to-day operations of the business and be mindful of how their continued contributions are key to your ongoing success.

A business advisor can guide you through the technical aspects of the proposed offer(s). Often, a key-determining factor behind selecting to sell to a specific buyer is the reputation of the organization in the market. Take not only the economic elements of the offer into consideration, but give considerable weight to the reputation of the buyer.

7.  Negotiate!

If you have made your decision and are about to sign the LOI, do so without any material concessions. An advisor can help you negotiate for higher consideration such as splitting synergy, which is the revenue or expense benefit gained by the buyer through the combination of the two businesses. Do not be afraid to counter-propose. It is extremely important to remove any obstacles from an impending transaction before the commencement of legal and financial due diligence. If there are any issues that make you uncomfortable, raise them now. This will save you time and money in the long run. Whether the concern is your compensation, consideration, or transaction structure, these issues really must be addressed and presented in a revised LOI. Don’t be afraid of the buyer closing down the deal. Rarely will a buyer walk if you are within a 10 percent tolerance on offering price. They have opportunity cost tied up in you and do not want to lose the deal.

8.  Get your house in order.

Be prepared for a convergence on your internal business operations. While the next steps of a transaction are usually smooth and relatively painless, it requires probably the greatest amount of hands-on effort. Once you sign the LOI, the buyer will schedule a formal legal and financial due diligence visit to your operation. The primary goal of the buyer is to completely validate everything that has been represented about your company. This almost always requires a several day site visit for the buyer’s team to review systems, contracts, accounting records, articles of incorporation, employment files, payroll records, bank statements, etc. Not only do they want to validate the financial statement representations, but also to do risk assessments such as production concentration, personal production levels, any threatening or pending litigation, etc. Another drill that the buyer will perform is an overall assessment of personnel and their related skill sets. This is primarily directed toward the management of the business, but is seen as a critical element of the review. The buyers team must come away with an affirmative view of the management’s depth of knowledge; experience level; technical skills; work ethic; stability, and commitment to the business. The due diligence review lists are generally pretty exhaustive and can range from having you prepare information on as few as 40, up to 150 individual categories. The best tactic to adopt here is to be proactive and to solicit due diligence check lists a few weeks prior to the scheduled visit. This gives your staff appropriate time to pull all of the materials together. Once you sign the LOI, the first call you should make is either to the legal counsel or senior finance representative of the acquiring entity to ask them to provide you with the list. If you don’t call them, more than likely, they will be the ones calling you to schedule the due diligence visit. A few things to remember are to provide ample time to compile all the requested materials for due diligence; communicate with key office staff of the impending events to allow them to get prepared; and to coordinate the due diligence activities with the schedules your lawyer, business advisor and accountant. While it may not be critical to have them on site for the entire visit, they must be accessible in the event that they are needed. In general, the formal legal and financial site visits last two to three days. The salient matter is to be prepared and have all permanent file information readily available. Most buyers are sensitive enough to conduct most of the activities at a neutral location if you are uncomfortable with announcing the visit to general employee population.

9.  Perform your own due diligence on the acquiring entity.

If you are going to be directly involved in the acquiring entity, post-transaction, this is a must. While they are kicking your tires, you should be reciprocating. Do not allow the transaction process to go by without satisfying yourself that the buyer’s operating model is conducive to you and your business’ culture. You should visit the buyer’s headquarters, meet their key people, and ask about their plans for integration. Be certain to ask about any employee casualties that may be a result of any integration activities and be absolutely sure that the buyer has a track record of handling these situations with class and dignity. (Be certain that there will be a grand fathering of tenure for severance purposes) Additionally, look at their benefit plans, evaluate their communication methods, and review their complete operating cycle. Ask to talk to other former business owner’s whom they have acquired. It is recommended that you obtain the buyer’s permission to speak to these people before hunting them down. Speak to at least two former business owners in a one on one format and you will learn more about your prospective employer’s culture than any brochure could ever convey.

10.  Take it slow.

It is the best and only way to conduct a serious transaction. Haste never benefited anyone. Carefully evaluate every aspect of the deal along the way. Generally, companies who acquire on a frequent basis will put the offer out for a few days, or weeks or threaten to walk if there isn’t a quick decision. Put this into perspective, they are asking you to make one of the biggest commitments of your life in the matter of days? This is typically a tactic used to keep the deal momentum going in hopes that there is no seller remorse or slow down for further contemplation. They own the momentum and you, the seller, really should be the one synchronized with the schedules, not being drug along without an understanding of what is next in the sequence of events. This puts sellers in an unfair disadvantage. The secondary reason why things are generally rushed is because of the fear of other parties coming into the mix with offers, which could potentially raise the stakes. Take it slow, rely on experienced advisors who can bring intermediary experience to your side, and evaluate every single aspect of the transaction, at your own pace.

Selling your agency can and should be a very rewarding experience. Trust your instincts and stand firm on your convictions. This is a life-changing endeavor and should be dealt with very cautiously. If you are uncertain of which direction to take, stand still and seek the guidance of a professional to make recommendations to you.

Steven Wevodau

How To Sell Your Home Fast
& Get Top Dollar
Add Sparkle – Sparkle Sells
First Impressions:
It is worth repeating, “You Never Get A Second Chance To Make A First Impression.”
This statement is never more true then the moment a prospective buyer arrives at your property.
Every detail leaves an indelible mark on the buyer’s psyche, and buyers buy on emotion.
Their first impression of your house is critical to their buying decision.
You are trying to create a powerful first impression for the buyer
One that invites them to buy
The yard, the driveway, the windows and the exterior must sparkle.
Buyers look for reasons to eliminate the property from consideration.
They look for reasons to discount your asking price.
By making your property sparkle, you hope to stop the buyer’s discount clock from ticking.
You want the buyer to add up the benefits of buying your property. You want them to want yours rather than the one down the street.
(At the end of this article are Valuable Links To Resources)
Consider:
Replacing Appliances
Carpet
Fresh Paint
Windows Professionally Cleaned
Landscaping
Garage Floor Cleaned or Resurfaced
There are many things you can do to make the property more presentable and desirable.
Consider the following:
STUFF TO DO TO MAKE IT SPARKLE
MirrorsMirrors make small areas seem large. Use mirrors extensively. Call a local glass company for pricing.
House NumbersGet new large house numbers. Be sure they are visible from the street.
Odors – SmokeQuit smoking indoors while your property is on the market. Many buyers are allergic to smoke. You might lose a willing and able buyer if they detect smoke odors.
Odors – PetUse a mild constant flow deodorizer. Keep litter boxes, bird cages, and kennels clean.
EntryConsider installing mirrors or recessed lighting. Consider a skylight.
StuffCollections, walls lined with photos, overstuffed chairs etc. are disadvantageous to showing the property. Rent a storage unit, remove clutter. Clean off the kitchen counter tops and put away small appliances.
Nail holesFill nail holes with putty or toothpaste.
ChildrenToys must be picked up. Keep all rooms clear of clutter.
ClosetsThin out clothes and shoes. Clutter creates a fear that there is not enough space.
Yard saleConsider having a yard sale. You might even find a buyer at the sale.
FurnitureArrange furniture in a manner that keeps walking areas clear. Think open space.
InsuranceBe sure your home owners insurance covers mishaps to visitors
Guns and JewelryPlace such items in a safe deposit box or other safe place while on the market.
PetsPets must be kept out of the way while showing the property. Birds must be in cages.
Repair check list:
The first thing you need to do is make a list of all things that need:
Repair
Replacement
Cleaning
Removal
Your next step is to make a complete repair list.
Every property has items that need repair. Get rid of these psychic sappers. You may have learned to live with them, but the buyer hasn’t.
Grab a notepad and start a thorough inspection of your property.
List everything that needs repair or replacement.
With your repair item check list in hand, begin your inspection:
Start at the driveway
Look critically at the front yard
Are the sprinklers working?
Does the lawn look good?
Is it mowed?
Does the driveway have oil spots?
You get the idea.
Now start with the roof
How are the gutters and down spouts?
Go inside the property and complete the same careful inspection
Include minor and major repairs
Look at the property as if you were the buyer
Be meticulous. Remember buyers are looking for ways to discount your asking price
Make notes of everything that needs repair. List every item – Estimate the cost – Check off items as you complete each repair.
It is a good idea to save repair receipts to show the buyer.
REPAIR CHECK LIST
Begin outside the property.
Write down every flaw, repair, or maintenance item.
Start with the roof and work your way down and around the house.
Include yard maintenance.
Go inside the property and complete the same careful inspection.
Include both minor and major repair items.
Look at the property as if you were the buyer.
Be meticulous. Remember buyers will look for items to justify discounting your asking price.
Sample Repair Item Check List
ITEM FOR REPAIRFIXCOSTDONE
Leaky faucets
Grease spots driveway and garage
Worn siding
Carpet (clean or replace)
Windows clean with ammonia and water
Replace cracked window panes
Fresh flowers in window boxes and planters
Replace torn screens and clean existing screens
Replace front screen with a decorator door
Clean yard (mow and get rid of weeds)
Haul away ALL junk and debris
Repair roof (flashings, gutters, and down spouts)
New roof (provide buyer with a roofing warranty)
Old appliances cleaned with undiluted bleach
Old tubs treated with a new porcelain coat
Clean mildew from grout or recaulk
Buy a new shower curtain
Service heating and air conditioning system
Paint exterior or give a power pressure bath
Paint interior (off white)
Paint or replace mail box
Bold wallpaper/drapes make room look small
If money permits, complete all repairs. If money is in short supply, consider:
A quick cash loan of a few hundred dollars
A equity loan if repairs are a major expense
It will be well worth borrowing from your equity as it will allow you to get top dollar for the property.
Generally speaking you should complete all repair items.
Leave nothing for the buyer to use to discount your asking price.
Completing needed repairs will get you Top Dollar.
In my years of selling houses, it’s been proven over and over that if a house is immaculate and if there is nothing to repair, the buyer will be reticent to offer less than your asking price.
Conversely, if there are a lot of little things that need repair, the buyer will use those items to justify offering you less money.
The condition of the property not only determines whether a buyer will buy.
The condition absolutely determines the price they will pay.
Leave nothing for the buyer to discount. Completed repairs equals a good return on your investment.
As I said, in my twenty plus years of experience if a property is in perfect condition, the buyers are embarrassed to offer below the asking price.
By following this repair procedure you stop the buyer’s discount clock from ticking. The buyer will add up the benefits of buying your perfect property.
Buyers don’t want to make repairs; they don’t want to spend money on leaky faucets and torn screens. They would rather buy new furniture.
Let the buyer see value everywhere. Make them want to buy your property. It Is Simple:
Before You Put The Sign In The Yard
Either Complete Repairs Or Discount Your Price
Buyer Loan Information
Help your buyer.
Many lenders will prepare loan information flyers for you to hand out to buyers. They will include several different financing options.
Interview at least two lenders. Ask about alternative methods of financing.
Find out which loan person you’re most comfortable with then ask them to prepare flyers for your property.
In turn, you will give the buyer their information along with your property flyer.
You may discover financial alternatives for yourself when you interview lenders.
For instance:
You might decide to refinance your present loan
Or you might decide to get a swing loan to remove contingencies from your purchase.
A swing loan is a short term loan which will be paid off at closing
You might take out an Equity Loan. Have your cash before closing
It can provide money for repairs
It can provide money for a deposit or down payment on your new home
It allows you to buy without making a contingent offer
Check with lenders to determine if such a loan might benefit to you.
When you find a serious buyer, ask the lender you have chosen to pre-qualify your buyer.
Do Not Enter A Contract With Any Buyer Unless They Have Been Pre-Qualified
Assure the lender who helps you, that you will make every effort to direct buyers to him for a Loan Pre-Qualify.
Buyer Pre-Qualifying cannot be over emphasized.
I’ve seen sellers accept a contract – take their property off the market – only to find out thirty days later, the buyer can’t qualify.
This is emotionally and financially devastating.
.
Homes That Sell Quickly:
Look Great
Are Priced Right
Are Easy To Show
Have Flexible Terms
Sparkle
For complete step by step details on how to seller your property, consider a economical $27.00 investment in our “How to Sell Real Estate by Owner” book

Resources Link
http://www/sell-fsbo.com/id73.html

Blank
http://www.articlesbase.com/business-articles/home-seller-financial-resources-73351.html

The economic crisis has finally come out of the “denial closet” as the President of the United States of America was pressured by Wall Street to bail them out of their “sub-prime” shell game of who’s holding the bad loans. Like Clay Akin, finally coming out of the closet and proclaiming his true sexual preference to the world, a fact that everybody already knew, President Bush in an emergency meeting was heard to say, “This sucker is going down”. At the heart of the economic melt down the entire national real estate market has come to a complete stop. Buyers, sellers, and agents are all looking for a savior.

Spending countless time researching solutions to this now admitted disaster, we found and answer, a tool, a savior to regain success. Exclusive marketing. While the world looks to American politicians for an answer, a bail out, we went to the free market, to entrepreneurs, to people, to patriots and revolutionaries for our answers. Again and again we found the road littered with the carcasses of copy caters, cloned sheep, followers of outdated, overused, and under realized marketing methods that where nothing more than cash cows for profiteers feeding off unsuspecting millions of hard working honest Americans wanting provide a better life for their families.

Traveling and navigating through the dark foreboding carnival fun house of fear and false solutions searching for an exit from the self-imposed terror, a pinpoint of light appeared. Myhomesearches.com, the lone glowing ember of exclusive marketing for the national real estate crisis stood out as the patriot, the solution, and the savior for buyers, sellers, and real estate agents. The research proved that there was hope, an answer to success, exclusive national real estate marketing.

From a humble, simple, concept; provide an unfettered, uncluttered, honest hub for exclusivity on the Internet; Myhomesearches.com continues its meteoric rise in the national real estate rescue. In 2006 while all the rest of the United States was still swaggering from its rape and pillaging of the American middle class, Myhomesearches.com saw the future. Their sobriety among drunken hordes of profiteers birthed a simple concept, exclusive marketing at an unmatched value. While greed and slothfulness were the mantras of the masses, Myhomesearches.com embraced the motto, affordable simplicity. Their mission, to provide a unique exclusive marketing service hub for the national real estate market that was committed to the success of its members and their future clients.

Savior indeed! In our research we were amazed to find Myhomesearches.com standing tall will the giants of the real estate industry. Using the web ranking research tool provided by Alexa.com we discovered among the 2 billion web sites on the Internet Myhomesearches.com opened in 2006 at a ranking of 5 million and at time of this release has a ranking of just over a weekly average of 50,000. On Yahoo, the number one search engine, Myhomesearch.com is rated 2nd and 3rd, on MSN it is rated 1st and 2nd for home searches and 2nd and 3rd for real estate agent searches, and on Goggle they are ranked 4th for nation wide realtors, 2nd and 3rd for homes searches, and 1st for loan agents.

With this knowledge, it is apparent, that its members who have already staked out their territorial claims with Myhomesearches.com are in position to lead the national real estate market back from collapse and prove once again that Patriots, the American spirit, and all the United States stood for, are alive and well and fighting back against Wall Street profiteers, international financial vultures, and blind politicians who care only for their own personal egocentric careers. Myhomesearches.com stands out as an answer to success, a solution to the greed of CEOs, a savior for national real estate professionals and their clients to again gain control of their future.

Sebastian Worthy
http://www.articlesbase.com/real-estate-articles/national-real-estate-savior-buyer-seller-agent-exclusive-marketing-answer-to-success-713915.html

The first thing that you want to do if you decide to sell your home during a recession is to hire a good Denver real estate agent. Look for a Denver Realtor that is successfully selling homes at this time. Find out what they think about putting your house on the market. Find out how they plan on marketing your home.

Your agent should be able to help you get an idea of how much other comparable Denver houses are selling for in the area. Be sure to figure in money that may have been deducted from the price because of any agreements that the seller may have made with the buyer that may have raised or lowered the original price. This might have an effect on your listing price.

It may take a while to sell your Denver home during a recession. Give it some time before making any decisions to change your price or remove the house from the market. Houses are big ticket items and you aren’t necessarily going to have buyers knocking down your door on the first day. It can still take some time to sell a property during good financial times, so it may take some months of being on the market before you get some bites.

Let your agent know if you have made any changes to your Denver home or property while it is being listed. This might be information that the agent wants to make public in the listing. If there hasn’t been a picture taken since the last season, ask your agent to take a new picture an feature that with the listing. Buyers will be able to tell that the house has been on the market just by the season of the picture.

Special deals will attract more buyers. You can offer something tangible like a car, big-screen t.v. or even a month free mortgage in order to sell your Denver home in a tough market.

Be flexible on the amount of the down payment you are requiring. In a recession people have less cash in their checking and savings accounts. They may be able to get the financing and be otherwise willing to buy. A high down payment may be the one obstacle that is keeping them from making an offer on the house. Some buyers may offer you a tangible item like a car or boat as part of the down payment. These can be very profitable deals for the seller.

Even in a recession it is possible to sell your Denve home. Times may be tough but people are still changing jobs and locations, getting married, divorced and other life changing occurrences that makes one need to look for other residence. The key to selling successfully during a recession is to stand out in the crowd of other houses that are being sold in the area. Adjust your price so that you are one of the cheaper homes offered compared to the value of the home.

Keep a positive attitude, get a Denver real estate agent that is willing to work with you and stay flexible to offers that come your way. You will find that you can successfully sell your house in the recession.

Bruce Swedal
http://www.articlesbase.com/real-estate-articles/how-to-sell-your-denver-house-during-the-recession-723726.html

If you are looking to save money when buying a home, now is a good time to explore foreclosures. The amount of homeowners foreclosing on their homes has dramatically increased in the last few years, and while that is not usually a plus for the economy, it could be fortunate for you. Whether you want to buy your first home at a bargain, or are involved in the real estate market in some way already, getting to know a little more about foreclosures can always be an advantage.

Conserve Finances with a Foreclosed Home

If your aim is to buy a home without breaking the bank, it can be accomplished with a foreclosure. Most foreclosed homes are sold at about 25 percent beneath their typical value on the market. However, saving money immediately may come at a price in the long-term. Initially, you typically need to have the whole amount of the cost upfront at the home auction, usually in either cash or a cashier’s check.

When you bid at the auction, you also do not usually have admittance to the home, so you cannot examine what you are getting. You might know the floor plan and what the house looks like on the outside, but you do not know what the inside looks like, or what other problems the home has. For instance, its former owners could refuse to vacate the home, forcing you to pay to take legal action. There could also be difficulties with the title, or liens on the home. There could be expensive repairs to make that you can only examine from the inside of the house. If you are the highest bidder, you might have to handle such problems, so there is a risk.

Suggestions for Getting the Most Out of a Foreclosure

If you are still attracted to buying a foreclosed home, it is wise to learn from the experiences of other people when it comes to such a big decision. One of the more cautious ways to buy a foreclosed house is to consider the history of the former owner.

In case where the previous owner of the home bought the house with zero money down, or has owned it for less than two years, you will probably not save much money when you buy the house, even as a foreclosure. This is because there will not be much equity built up yet. Try to only weigh homes formerly owned by people who put at least 10 percent down and have owned it for at least a few years.

On the whole, foreclosures are wise for investors to explore, since they do not have to worry about small details that they may or may not like about the property, condition of schools in the area, or what the neighbors might be like. Most experts concur that if you plan to live in the house for a while, buying a foreclosure is risky. However, if you find a house that seems perfect for you, you have the money up front, and it just happens to be a foreclosure, there is nothing wrong with saving some money while gaining your dream home.

Lee Bell
http://www.articlesbase.com/real-estate-articles/buyer-beware-research-foreclosures-before-buying-742834.html