The easiest way to understand a short sale is the sale of a home in which the proceeds from the sale are less than the balance of debts secured by liens against the property and the home owner cannot afford to pay the liens in full.
Believe it or not, foreclosures can actually be a smoother transaction than a short sale. A foreclosure, sometimes referred to as a REO, is a property that is owned by a lender. If you’re considering the purchase of a foreclosure, it’s important to understand that most are sold “as-is”.
When buying a home, it’s strongly recommended you have a Realtor. There are many reasons why you should have a Realtor represent your best interests when buying a home. Keep in mind, all Realtors are not the same!
Without a doubt, one of the most popular questions among consumers is how is the real estate market doing. Even if you are not going to be selling a house anytime soon, people that know you are a real estate agent will ask this question...
This is one of my favorite questions from home sellers. Why? I will answer honestly while most agents will always say “right now.” It is still easy to spot an agent that gives advice based on what’s best for them.
What real estate agents do and what appraisers do are a bit different. The result, however, is getting to what a buyer will most likely pay for a property. Both appraisers and real estate agents use what’s called comparable sales or “comps” to determine fair market value.
The list price is the price you list the home for sale. It is the reasonable goal you set for your sale, one you hope to get close to as you make the transaction. The sale price is the price that you actually sell the home for, after negotiations...
It is essential for you to find out what commission the real estate agent will be charging. You might be thinking that is would be great if you can find an agent who will charge a lower rate than everyone else.
Many homeowners think that an open house is an essential marketing activity. They are not! Who can blame a seller though when a significant percentage of real estate agents promote them like they are necessary to sell a home.
One of the most vital things when hiring a real estate agent is proper communication. The agent you hire should ask up front how you prefer to keep in touch whether it is email, text or an old fashion phone call.