Some people are wondering if luxury homes can also be subject to short sales. The answer is yes. But it has to be done properly because it is sensitive. There are more factors involved. With the use of our technamicra and marketing strategies, we will find qualified buyers. A short sale can work to the advantage of any property. But they vary in terms of the property situation and the goals of the owners. How? It will not cost the seller. The bank will pay the realtors when the house is sold. It’s probably the fastest way to sell your home if you’re trying to avoid foreclosure. This proviees a way out from financial burdens and start anew. You can still stay in the house for free while the short sale is still being processed. Losing your home to a short sale may not be easy but it could solve
For a seller who has a house in the market for quite a while, it’s exhilerating to get a call telling you that someone is making an offer. You go through a series of emotions – intitially you feel ecstatic, the next moment when everything sets in, you start to worry thinking that the offer may may not be as good as you were hoping for. Agents usually don’t tell you the price offer over the phone because there are other things to consider aside from the price – contingencies, seller concessions and real property requests. Don’t stop at the price. Look at the rest of the offer. Focus on how much net you’re going to get. Your agent should be able to explain to you the parts of the contract. But it’s better if you already have prior knowledge about real estate contracts. They could vary depending on your
If you’re thinking of selling your home, prep up your kitchen. Homebuyers put a premium on the kitchen. Families do a lot of things in the kitchen – preparing meals, sharing meals, sorting through bills, and just hanging out. According to a recent survey by SieMatic Corp., 85% respondents said that the condition of a home’s kitchen is a major consideration when making a purchasing decision. You don’t have to give your kitchen a major overhaul. There are other things you can do to make your kitchen look attractive without tearing it down. Give it a fresh paint. Painting your kitchen new is one, inexpensive way to prep it up. Choose a neutral color since potential buyers have different preferences. Give your countertops a fresh look. Take a good look at your countertop. Does it need new tiles? Find inexpensive ways to improve it. It won’t cost much especially if your counter
Determining the price of your home is crucial to the sale. Wrong pricing could either cause your house to stay longer in the market or could mean getting less from the actual value of your home. This is why sellers opt to pay $300 to $400 to have their homes appraised before putting it on the market, says Alan Hummel, past president of the Appraisal Institute and chief appraiser for St. Paul, Minn.-based Forsythe Appraisals LLC. He said presale consultations in their firm increased in the first quarter while the real estate market for residential properties slowed down and properties in the market increased. Real estate agents can also do the appraisal for you. But going to an appraiser will give a more accurate and unbiased assessment. Usually, agents also turn to appraisers or suggest this to this clients especially if the house has stayed in the market for quite
When you sell your home, especially at a time when your taxes are due, you could get financial shelter. Thanks to The Taxpayer Relief Act of 1997, the real estate sector can receive what is considered the best tax shelter through their homes. According to the federal tax law, when you sell your home, you can keep, tax free, capital gains of up to $500,000 if you are married filing jointly or $250,000 for single taxpayers, or married taxpayers who file separately. To qualify for the $250,000/$500,000 exclusion, you must have lived in the house (as your primary residence) for at least two of the prior five years. The best part is, it’s not a one-time benefit. You can use this benefit as often as you qualify – every two years, to fulfill the owner-occupied-two-out-of-five-years requirement. For example, if you have two homes and you live in one of them
There are many good ways to invest in real estate. Hopefully you got some of your insight from us. There are a lot of mistakes sellers can get into when they put up their house for sale. There was a seller in Virginia who had a half bath that was originally placed at the front of his house. He thought that it would be better if it was moved to the back of the main level. All the other similar models had the powder room in the same place for the past 20 years. It cost him thousands of dollars to move it, thinking it will get his house off the market sooner, but it didn’t. It became an expensive mistake. Sid Davis, a real estate broker and author of “A Survival Guide to Selling a Home,” points out seven costly mistakes that sellers often make with regards to selling their home.