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Escalation Clauses - A Home Buyer's Secret Weapon
by Dallas Appraiser L.L.C. on 05/17/14
Title:
Escalation Clauses - A Home Buyer's Secret Weapon
Word Count:
584
Summary:
Today we discuss escalation clauses because much of the country is experiencing an extreme seller’s market.î By that, I mean there are more buyers than there are sellers, and that results in sellers getting more than one offer to buy their property. The seller can be picky about the terms under which he is willing to sell. A potential buyer is apt to make one or more offers which are rejected before making a successful offer. If you are a buyer, how do you increase the chances that your offer will be the acceptable one?
Keywords:
escalation clauses, #Texas_Real_Estate, #DFW, #Dallas, #Appraisal, #Appraiser, #Texas, #Tarrant, #Mansfield, #Arlington, #Fort_Worth, #North_Texas, #Home_Appraisal, #Home_Appraiser, #Real_Estate, #De_Soto, #Euless, #Johnson
Article Body:
Today we discuss escalation clauses because much of the country is experiencing an extreme seller’s market.î By that, I mean there are more buyers than there are sellers, and that results in sellers getting more than one offer to buy their property. The seller can be picky about the terms under which he is willing to sell. A potential buyer is apt to make one or more offers which are rejected before making a successful offer. If you are a buyer, how do you increase the chances that your offer will be the acceptable one?
The obvious things a buyer can do is to have a strong pre-approval lender letter, and make an offer that is full price and is as clean (has as few contingencies) as possible. Is there anything a buyer can do beyond that? You bet your bippy!
Escalation Clauses
A buyer who really wants to buy a property can do the above, plus add an escalation clause.î An escalation clause simply states that the basic offer is full price, but if the seller receives one or more other offers at full price or higher before this offer is accepted, then this offer is increased by $500, $1,000, $5,000 (or whatever figure you choose) above the other acceptable offer. Of course, you choose the amount of the incremental increase based on what you think till take to get the sellers attention given the original asking price of the home.
Now, I can hear you thinking, That is all very well. I can see where that will get me the winning bid, but how do I make sure there really is another contract? More importantly, how do I make sure I can afford the home? Is not this awfully open ended?î
Yes, it is. So let us fine tune the escalation clause idea a bit.
First, make the escalation offer such that it will increase the sellers net proceeds (not gross proceeds) by $500, $1,000 or whatever. That way, your price is not artificially increased by a higher offer that includes a provision for the sellers to pay some of the costs that are normally born by the buyer.
Secondly, name an upper limit to which your offer can be carried. For example, your offer could state that you will pay the sellers an amount that will increase their net proceeds by $10,000 above any other acceptable offer up to a total price of $1,500,000. That puts a cap on how high you are willing to go.
Prior to making an offer like this, be sure to have a conference with your lender to be sure you qualify for the highest amount required by your offer. Obviously, you also need to be sure you know and can pay the mortgage payments on that amount. It is also a good idea to get a lender letter for this higher amount, so that the sellers will be confident you can do what your offer says you are willing to do.
The third bit of fine tuning is to require that the seller provide you with a copy of the acceptable competing contract as signed by the other potential buyer. Make sure the buyer is not a relative of the seller! With the written offer on hand, you can be sure everything is on the up and up.
In this hot sellers market, escalation clauses can be the key to closing a deal on your dream home. If a seller is motivated by greed, you will have them dead to rights.
Clauses - A Home Buyer's Secret Weapo
Word Count:
584
Summary:
Today we discuss escalation clauses because much of the country is experiencing an extreme seller’s market.î By that, I mean there are more buyers than there are sellers, and that results in sellers getting more than one offer to buy their property. The seller can be picky about the terms under which he is willing to sell. A potential buyer is apt to make one or more offers which are rejected before making a successful offer. If you are a buyer, how do you increase the chances that your offer will be the acceptable one?
Keywords:
escalation clauses, #Texas_Real_Estate, #DFW, #Dallas, #Appraisal, #Appraiser, #Texas, #Tarrant, #Mansfield, #Arlington, #Fort_Worth, #North_Texas, #Home_Appraisal, #Home_Appraiser, #Real_Estate, #De_Soto, #Euless, #Johnson
Article Body:
Today we discuss escalation clauses because much of the country is experiencing an extreme seller’s market.î By that, I mean there are more buyers than there are sellers, and that results in sellers getting more than one offer to buy their property. The seller can be picky about the terms under which he is willing to sell. A potential buyer is apt to make one or more offers which are rejected before making a successful offer. If you are a buyer, how do you increase the chances that your offer will be the acceptable one?
The obvious things a buyer can do is to have a strong pre-approval lender letter, and make an offer that is full price and is as clean (has as few contingencies) as possible. Is there anything a buyer can do beyond that? You bet your bippy!
Escalation Clauses
A buyer who really wants to buy a property can do the above, plus add an escalation clause.î An escalation clause simply states that the basic offer is full price, but if the seller receives one or more other offers at full price or higher before this offer is accepted, then this offer is increased by $500, $1,000, $5,000 (or whatever figure you choose) above the other acceptable offer. Of course, you choose the amount of the incremental increase based on what you think till take to get the sellers attention given the original asking price of the home.
Now, I can hear you thinking, That is all very well. I can see where that will get me the winning bid, but how do I make sure there really is another contract? More importantly, how do I make sure I can afford the home? Is not this awfully open ended?î
Yes, it is. So let us fine tune the escalation clause idea a bit.
First, make the escalation offer such that it will increase the sellers net proceeds (not gross proceeds) by $500, $1,000 or whatever. That way, your price is not artificially increased by a higher offer that includes a provision for the sellers to pay some of the costs that are normally born by the buyer.
Secondly, name an upper limit to which your offer can be carried. For example, your offer could state that you will pay the sellers an amount that will increase their net proceeds by $10,000 above any other acceptable offer up to a total price of $1,500,000. That puts a cap on how high you are willing to go.
Prior to making an offer like this, be sure to have a conference with your lender to be sure you qualify for the highest amount required by your offer. Obviously, you also need to be sure you know and can pay the mortgage payments on that amount. It is also a good idea to get a lender letter for this higher amount, so that the sellers will be confident you can do what your offer says you are willing to do.
The third bit of fine tuning is to require that the seller provide you with a copy of the acceptable competing contract as signed by the other potential buyer. Make sure the buyer is not a relative of the seller! With the written offer on hand, you can be sure everything is on the up and up.
In this hot sellers market, escalation clauses can be the key to closing a deal on your dream home. If a seller is motivated by greed, you will have them dead to rights.
Educated Consumers Can Save Money on Mortgages
by Dallas Appraiser L.L.C. on 05/17/14
Title:
Educated Consumers Can Save Money on Mortgages
Word Count:
663
Summary:
Smart homeowners and homebuyers see the current market as an opportunity to either take a second look at their existing mortgages or to shop around for new mortgages.
Keywords:
Mortgage,Refinance,finance,home loan,debt consolidation,cash out,equity line of credit,adjustable loan,second mortgage,#Texas_Real_Estate, #DFW, #Dallas, #Appraisal, #Appraiser, #Texas, #Tarrant, #Mansfield, #Arlington, #Fort_Worth, #North_Texas, #Home_Appraisal, #Home_Appraiser, #Real_Estate, #De_Soto, #Euless, #Johnson
Article Body:
Not only is owning a home an integral part of the American dream, but our home is likely the biggest purchase we will ever make and the biggest asset - or liability - we will ever have. Until about a year ago, of course, no one would have imagined that a home could be a liability. That's when housing prices started to drop and relatively new homeowners realized that it was only a matter of time before their adjustable rate mortgages would skyrocket.
Experts agree that house values haven't yet reached their nadir and that many homeowners are poised on the precipice. While some people might find it easier to stick their heads in the proverbial sand, smart homeowners and homebuyers see the current market as an opportunity to either take a second look at their existing mortgages or to shop around for new mortgages. Either way, it's important to learn all that you can about different ways to finance a home before you take the plunge. Here are a few scenarios that illustrate some of the choices available today.
Nine years ago, Sam and Jenny Thompson bought a home that was ten years old. They were savvy enough to buy their house just before prices went through the roof. They have well over $100,000 of equity in their home, but their home is showing signs of wear. It's time for a new roof, a new heating and air conditioning system, and they know that they need to have some dry rot repaired and have the house painted. They don't have much in savings, though, and want to borrow money so that they can get the repairs done.
Sam and Jenny have a few options to pay for home improvement. They can refinance their home and get cash out for the repairs, they can get a home equity line of credit, or they can get a second mortgage. Which option is best depends largely on that status of their current mortgage. If they have a low interest, fixed rate loan, it probably doesn't make sense to refinance. If they're planning on staggering their home improvement over the next two years, it probably doesn't make sense to get a lump-sum second mortgage. Instead, a home equity line of credit might work best. On the other hand, if they have an adjustable rate mortgage, it might be financially prudent to refinance to a fixed rate loan and cash out part of their equity to make their home repairs.
Cynthia and Bill Williams have owned their home for five years, but are concerned that Bill might be laid off in the next six months. They have quite a bit of money in savings, but have racked up considerable credit card debt. Because they're paying a high interest rate on their credit card debt, they may want to use a home equity line of credit for debt consolidation purposes, and to have a cushion in case Bill does lose his job.
When Rebecca Richards bought her home two years ago, she thought housing prices would continue to soar and interest rates would go down. She bought her house with an adjustable loan and is terrified that, when the loan adjusts later this year, she won't be able to make her payments. In this scenario, Rebecca needs to meet with her lender now, rather than wait for the other shoe to drop. If possible, she should convert her adjustable rate home loan to a fixed rate loan.
The bottom line is that, whatever your circumstances, you need to learn all that you can about the options available to you. Thankfully, there are resources on the Internet that not only have a library of informative articles on mortgages, but that also provide the calculators and tools you need to find the answers to your questions. The best sites even offer a variety of loan programs and will prepare a personalized quote for the types of mortgages that you might be interested in.
Down Payment Gifts
by Dallas Appraiser L.L.C. on 05/16/14
Title:
Down Payment Gifts
Word Count:
344
Summary:
One of the biggest hurdles to getting into your first home is the down payment. Down payment gifts represent one way of dealing with this issue.
Keywords:
real estate, homes, houses, down payment, payments, gifts, sellers, buyers, non-profits,#Texas_Real_Estate, #DFW, #Dallas, #Appraisal, #Appraiser, #Texas, #Tarrant, #Mansfield, #Arlington, #Fort_Worth, #North_Texas, #Home_Appraisal, #Home_Appraiser, #Real_Estate, #Burleson, #Crowley, #Johnson
Article Body:
One of the biggest hurdles to getting into your first home is the down payment. Down payment gifts represent one way of dealing with this issue.
Down Payment Gifts
Down payments can be one of the hardest things to overcome for first time homebuyers. Down payments can be extremely expensive, but the problem is they are extremely important. Although no down payment mortgage loans can be sought out, those loans are tricky and generally carry high interest rates meaning many avoid them. However, first time home buyers still need a way to be able to meet the down payment so they can proceed with purchasing their home. One of the forms of assistance that can be found to achieve this is down payment gifts.
Many organizations offer down payment gift options to home buyers. Also called a down payment grant program, down payment gift programs are offered by many organizations which essentially allow sellers of homes to help buyers with the down payment so they can sell the home to the buyer. You see, technically, sellers are not allowed to help with the down payment costs of buyers. However, through these down payment gift programs, sellers can go through a third party organization and the organization will handle the down payments and charge a small fee for doing this process. This is completely legal and there are no problems with doing this.
However, there are some things to know. The home buyer must qualify for a loan that allows gift funds. The funds provided can be used for down payments and/or closing costs. These funds can be used for new or existing homes, and any funds not used must be returned to the organization.
Down payment gift programs are just one way to help encourage new buyers to go through with their objective to buy their very own home. Buying a home can be expensive and extremely difficult, especially for new buyers, and down payment gift options are just one way to help make the process a little bit easier and more manageable.
Double (Glaze) Your Home's Salability
by Dallas Appraiser L.L.C. on 05/16/14
Title:
Double (Glaze) Your Home's Salability
Word Count:
430
Summary:
One sure way to add value to your home is to install attractive double glazed units; these will lower your heating bills which will increase the desirability of your property.
Keywords:
green homes, double glazed home, double glazed units, #Texas_Real_Estate, #DFW, #Dallas, #Appraisal, #Appraiser, #Texas, #Tarrant, #Mansfield, #Arlington, #Fort_Worth, #North_Texas, #Home_Appraisal, #Home_Appraiser, #Real_Estate
Article Body:
One sure way to add value to your home is to install attractive double glazed units; these will lower your heating bills which will increase the desirability of your property.
It may also get you into the 'green home' section, and then the environmentally aware will be interested and more buyers will come to view your house.
Double glazing is also commonly referred to as IGU which stands for Double Glass (or Glazing) Unit. In Europe they are called DGU and referred to as double glazed units, or double glazing.
There is no mystery about the way insulating or double glazing works; we could liken it to the way that a feather duvet works! Between the body temperature warmth in a bed and the cold air in a room is a layer of feathers. The secret is that the feathers are holding a layer of air between you and the room. This air has a buffeting effect, and keeps the warm air and the cold air separated.
This is how double glazing works, the glass is just ordinary glass, but there are two sheets of glass and the buffeting air layer is contained in between the glass sheets. In very cold places there is such a thing as triple glass units!
In these days of energy and environment concerns, it may be worth mentioning that solar radiation can still be encouraged with IGUs. For this you have to order special glass called Low-E glass. Low E stands for low emissivity and it allows solar radiation to enter through the glass. Inside the unit, there is a thin coating that reflects thermal radiation and allows solar radiation to enter the room. This means the heat loss is protected but your room can still be warmed by sunshine.
It may surprise you to know that in some areas, the Government may be interested in your double glazing ideas! For instance, if you have sash windows, or live in a conservation area, you may need permission to change your windows.
If you live in a sunny area you can install IGUs that are tinted to cut down on sun glare. The tint is not enough to darken your view, but it will save on your air conditioning bills.
The cost of installing insulated windows is not cheap, but if you approach the change with prudence, you could actually offset the expense over time by saving on your future heating and cooling bills. As a possible 30% of heat loss can be escaping through your windows, some of this expense could be re-couped pretty quickly!
Do Not Let Emotions Ruin Your Purchase or Sale of A Home
by Dallas Appraiser L.L.C. on 05/15/14
Title:
Do Not Let Emotions Ruin Your Purchase or Sale of A Home
Word Count:
460
Summary:
Buying and selling real estate undisputedly has an emotional element. If you let emotions run you, there is a very good chance everything will fall apart.
Keywords:
real estate, selling, buying, contracts, mortgage, loan, homes, houses, seller, buyer
Article Body:
Buying and selling real estate undisputedly has an emotional element. If you let emotions run you, there is a very good chance everything will fall apart.
Do not Let Emotions Ruin Your Purchase or Sale of A Home
One of the biggest stumbling blocks in the sale of a home is the emotional reactions of the parties. It does not matter if you are buying, selling, using a real estate agent or handling it on your own. If either party lets emotions rule the day, things will fall apart. If both parties let it happen, the transaction will get very ugly.
For sellers, emotions arise from the fact that they typically have lived in the home for some time. Major life events may have occurred in the property including raising a family, weddings and so on. In simple terms, sellers do not view the home as a property to be sold. They view it as a part of themselves, which they are letting go like a child going off to college. This personal attachment leads to ruffled feelings when a buyer offers practically any criticism of the property.
For buyers, emotions arise from the conscious or subconscious nervousness about taking on such a big debt. Whether you like to admit it, committing to a ton of debt is a scary experience. Inevitably, this emotion is expressed as suspicion that the seller is trying to pull a fast one or there is something wrong with the property. Regardless of the manifestation, such emotions are the stuff of failed, nightmarish real estate transactions that often end up in court.
For example, a couple I am friends with recently sold a very pricey home they had lived in for over 14 years. Simply put, there were a lot of memories from that time period. On the other side, the buyers were making a major step up in price from their previous home. In fact, they were committing to well over seven figures of debt with their mortgage loan. Put in simple terms, both parties were keyed up and sparks eventually flew.
I will not get into the details in respect for their privacy, but the deal almost fell through over an argument about who got to keep three bar stools. Three-bar-stools. This was a million dollar home! In the end, the seller kept them and then realized they did not go with their new home. In retrospect, they now realize that the conflict with idiotic and really had nothing to do with the stools. Instead, it was emotions that almost ruined the day.
If you are going to buy or sell a home, make sure to control your emotions. The transaction is a business transaction, not a personal insult to your pride.
Dealing With Unpleasant Negotiators
by Dallas Appraiser L.L.C. on 05/14/14
Title:
Dealing With Unpleasant Negotiators
Word Count:
663
Summary:
Selling your house yourself can be intimidating if you're doing it the first time. Here's how to deal with unpleasant negotiators.
Keywords:
selling your house, #Appraisal, #DFW, #Tarrant_County, #Arlington, #Euless, #Dallas, #Mansfield, #Appraiser, #Grapevine, #Home_Appraiser, #Home_Appraisal, #Forest_Hill, #Kennedale, #Texas, #North_Texas
Article Body:
Selling your house yourself can be intimidating if you're doing it the first time. Here's how to deal with unpleasant negotiators.
Unpleasant Negotiators
Sometimes you encounter someone who is not going to be happy unless he maneuvers you into accepting less than your home is worth or doing things for his benefit that are unreasonable. Then what? Well, first let's discuss the most common forms these nasty types take and then we'll talk about what to do with them.
One frequent form the unpleasant negotiator takes is the person who tries to intimidate you and disparage your property. Red flags should go up if someone works hard at trying to get you on the defensive. I'm not talking about an occasional negative remark. What I'm talking about is a whole string of them and the attitude that goes with it. Even if it's cloaked in the appearance of classic good manners and charm, you're dealing with a rascal.
The second typical form an unpleasant negotiator takes is the "nibbler." You think negotiations are over and that the two of you have come to a mutually acceptable agreement. Then at various points as you progress toward completion of the sales process, the other person "nibbles." They usually pretend they had no idea that the carpet needed to be stretched, the roof needed to be replaced, the crystal chandelier in the dining room did not convey, or fill-in-the-blank, and use that as an excuse to change things. This process can and does continue right up to the point of settlement or the point the deal falls apart, whichever comes first!
The Walk-Away Secret
Sometimes you get these two nasty types in one negotiator, but don't despair. You can cope with them. The first thing you need to do is to stay in a calm, evaluating frame of mind. At each step along the way, ask yourself, "Is this reasonable? Am I willing to do this in order to make a sale?" Proceed as long as the answer is "yes."
Be willing to walk away if the answer becomes "no." I cannot over emphasize the power of "being willing to walk away" from negotiations. Don't read that phrase too quickly. Be "willing to walk away." It is one of the strongest negotiating tools on the planet. It's simple. It does not require being nasty. However, what it does require is that you not consider your home sold (or bought, for that matter) until all negotiations are really over.
Think about it. You put yourself in a "losing posture" with a nasty negotiator the moment you emotionally consider your house sold. So long as you're willing to walk away, you have power that is as strong as the buyer's wish to buy. If such a "deal" blows up, so be it. You weren't going to get what you wanted from it anyway.
Now, a word about "nibbles." There is a civilized way to cope with this. Don't hop into doing it until you really feel it is a nibble or you become a nasty negotiator yourself. However, a nibble can be dealt with by inquiring blandly, "If I do that for you, will you do 'fill-in-the-blank' for me?" Your goal is to convey to the nibbler that each successful nibble will cost him something. Make it something significant relative to the nibble request.
If you don't think fast on your feet, you can always say, "I'll get back to you on that." Don't allow yourself to be rushed if you think best when you mull things over. Stay calm and thoughtful. No one can force you to make a sale or purchase that's not in your best interest. Keep evaluating the situation, and stay open to the possibility that you may need to walk away until the sale is complete. That way you won't force yourself to do what's not in your best interest either. It's not easy, but it's very simple. Stay in control of yourself.
Good Faith Deposit in Real Estate Transactions
by Dallas Appraiser L.L.C. on 05/14/14
Title:
Good Faith Deposit in Real Estate Transactions
Word Count:
372
Summary:
In a real estate transaction, a touchy issue is how much trust the seller has in a buyer. The existence of a good faith deposit helps put a seller at rest.
Keywords:
Good Faith Deposit, Real Estate Transactions, #DFW, #Dallas, #Fort_Worth, #Appraisal, #Appraiser, #Arlington, #Real_Estate, #Home_Appraisal, #Home_Appraiser, #Euless, #Grapevine, #Mansfield, #Burleson, #Texas, #Home_Value
Article Body:
In a real estate transaction, a touchy issue is how much trust the seller has in a buyer. The existence of a good faith deposit helps put a seller at rest.
Good Faith Deposit
If you are selling your home, condominium or other real estate, you should always require a buyer to make a good faith deposit. The good faith deposit simply establishes that the buyer is serious and, to some extent, has the financial capacity to follow through on the purchase.
The amount of the good faith deposit is dependent upon the agreed sale price of the real estate. Although percentages vary from state to state, a cash deposit equal to three percent of the sales price is typical. For instance, the deposit would be $9,000 for home selling at a price of $300,000. As with most transactions, this percentage is negotiable. I do not recommend that you accept anything less than two percent.
Once the buyer and seller agree to the amount of the good faith deposit, you have to figure out what to do with the deposit. Importantly, the seller should not hold the deposit as doing so could make the buyer very uncomfortable. Instead, the money should be deposited with a third party and held ìin trust.î Potential third parties include escrow and title insurance companies as well as an attorney if your state requires their involvement.
A good faith deposit acts like an insurance option for a seller. Moving through escrow can take 30 to 60 days, during which the property is off the market. The good faith deposit essentially compensates the seller for this time in the event the buyer is unable to follow through on the purchase of the property.
Depending on the laws in your state, a buyer who canít close will lose the deposit. Typically, the only exception to this is when the seller allows language indicating the deposit will be returned if the buyer canít get a home loan. Of course, including such language can open the seller up to repeated frustration when bad credit buyers repeatedly fail to get funding.
Good faith deposits are a fundamental part of a real estate transaction. Buyers should expect to pay them and sellers should demand them.
What You Should Know About HUD Properties
by Dallas Appraiser L.L.C. on 05/13/14
Title:
What You Should Know About HUD Properties
Word Count:
404
Summary:
HUD properties are available all over the United States, and make great investments for anybody that is interested. These homes often times get a bad rap for being in bad condition, but in all actuality they are not any worse than other foreclosed homes that are available. Just like anything else, there are some HUD properties that are in good condition, and some that are in need of a few repairs. It is simply a matter of how well the past owner cared for the home.
Keywords:
HUD properties, #Texas, #DFW, #Real_Estate, #Dallas, #Appraisal, #Appraiser, #Pantego, #Tx, #Forest_Hill, #Kennedale, #Fort_Worth, #Tarrant, #Watauga, #Euless, #Haltom_City, #Benbrook, #Keller, #Grapevine, #Irving, #De_Soto, #Lancaster, #Midlothian, #Waxahachie
Article Body:
HUD properties are available all over the United States, and make great investments for anybody that is interested. These homes often times get a bad rap for being in bad condition, but in all actuality they are not any worse than other foreclosed homes that are available. Just like anything else, there are some HUD properties that are in good condition, and some that are in need of a few repairs. It is simply a matter of how well the past owner cared for the home.
HUD properties are homes that had loans which were insured by the Department of Housing and Urban Development. But when the owner fails to live up to the financial obligations that are expected, the bank then takes over the home and it becomes an HUD property. At this point, the Department of Housing and Urban Development is in charge of repaying the lender any money that they lost on the deal. So as you can see, the Department of Housing and Urban Development sticks their neck on the line when they insure the loans on these homes; if the owner does not pay, they are stuck with owing money to the lender.
Investors are particularly fond of HUD properties because they are a great way to make them a quick profit. The way this works is quite simple. Since HUD properties can be bought at a great discount, investors will purchase as many as they can afford. They will then fix these homes up just enough so that they can sell them back to the public. But the catch is that they sell them for the market value. This means that their profit equals the difference between the market value cost and how much they actually bought the home for. In many cases this can be tens of thousands of dollars. By doing this on several houses a month, HUD property investors can make a lot of money.
If you are not an investor and are just in need of a new home, you may also want to consider HUD properties. Even though you may have to put some work into repairing the home, you will save a lot of money on the initial cost. With the money that you save you will easily be able to make the necessary repairs.
HUD properties can be found all over the United States, and offer great buys to interested parties.
What You Should Know About Foreclosure Listings
by Dallas Appraiser L.L.C. on 05/13/14
Title:
What You Should Know About Foreclosure Listings
Word Count:
392
Summary:
Foreclosure listings are essential to anybody that is looking to invest in real estate. Even though foreclosure listings are nothing more than a list of properties that are available, they will go a long way in ensuring that you are successful in this industry. Detailed below is a way for anybody to get their hands on foreclosure listings in their area.
Keywords:
Foreclosure listings, #Appraisal, #Appraiser, #Real_Estate, #Texas, #Tx, #DFW, #Dallas, #De_soto, #Cedar_Hill, #Duncanville, #Arlington, #Grand_Prairie, #Irving, #Fort_Worth, #Burleson, #Crowley, #Mansfield
Article Body:
Foreclosure listings are essential to anybody that is looking to invest in real estate. Even though foreclosure listings are nothing more than a list of properties that are available, they will go a long way in ensuring that you are successful in this industry. Detailed below is a way for anybody to get their hands on foreclosure listings in their area.
1. Foreclosure listings can be found online in two distinct places. The first place you can check is on a free website that offers foreclosure listings. The good thing about these services is that they do not cost you any money to get started. On the other hand, the information that they offer is usually not as comprehensive as paid sites, which is the other option available. The foreclosure listings on paid sites offer top notch service to customers, as well as a detailed list of properties.
2. Another great way to find foreclosure listings is by compiling your own. You can compile your own foreclosure listings by scouring the courts, checking the internet, and reading the real estate classifieds. Finding foreclosure listings this way is sometimes difficult because it can take up a lot of your time. But then again, you will not have to pay for your listings if you decide to exercise this option.
3. Finding foreclosure listings can also be done by calling lenders direct. By doing this, you will be able to get up to date foreclosure listings that you can use right there on the spot. The main advantage of foreclosure listings obtained this way is that you know they are quality because they are coming straight from the source. The difficult part about obtaining listings this way is that you will have to locate the lender, and then find the right person within the company. This can sometimes be very difficult the first time you try it.
Foreclosure listings are very important if you are serious about investing in real estate. By having these lists, you will be able to find all of the properties in your area without having to spend too much time and money. Even though it may take some effort to obtain foreclosure listings, it is well worth it. You will be sure to agree the first time that you make a large profit on a home that you found on a list!
What You Should Know About Foreclosure Investing
by Dallas Appraiser L.L.C. on 05/13/14
Title:
What You Should Know About Foreclosure Investing
Word Count:
395
Summary:
Are you in the market for your first new home? Do you want to buy a home, but are not sure if you have the finances to make it happen? If you answered yes to either one of these questions there is an easy solution to your problem; you can look into foreclosure houses in your area. There are a few good reasons that foreclosure houses are great for people that are looking for their first property.
Keywords:
Foreclosure Investing, #Appraisal, #Appraiser, #Duncanville, #De_soto, #Texas, #Arlington, #Dallas, #DFW, #Tarrant
Article Body:
If you are interested in a way to get involved in the real estate industry you should look into foreclosure investing. Many people avoid this type of investing because they are not aware of the details that go along with it. By simply learning about foreclosure investing, you will be able to join this industry in no time at all.
The first thing that you need to know about foreclosure investing is who you will be buying the house from. Foreclosed homes are properties that have been taken over by the bank because the past owner failed to pay his or her mortgage. When this happens, the bank then needs to sell the property back to the public so that they can start to collect a profit again. The longer that the bank sits on a foreclosed home, the more money they are going to lose.
Being that banks are always in a hurry to sell properties back to the public, the buyer definitely has a huge advantage; this is what makes foreclosure investing so profitable for thousands of people ever year.
When you are looking to get into foreclosure investing you should realize that you will be able to find properties that are greatly discounted. It is not uncommon for a buyer to be able to find a property for up to 40% off of the market value cost. By purchasing properties at this price and then selling them back to the public, you can make a lot of money.
Another reason that foreclosure investing is so popular is because there are a lot of these properties to go around. In almost every city in the United States there are foreclosure properties available for purchase. The only thing that you have to do when getting into foreclosure investing is find the homes that you want, and decide how much you are willing to pay for them. This can be done by simply scouring your newspaper, or joining a service that will supply you with homes in your area.
Overall, foreclosure investing is a huge industry at the present time. There are people all over the country that have turned their love of foreclosure investing into a full time job. If you are interested in getting involved with the real estate industry, there is no better way to do it than by investing in foreclosed properties.
