Selling a Home by Filip First

As you consider selling home perhaps you think to settle all your piece of furniture and anything else in your lovely home. Ok, You have some reasons but selling home implies also to remove all the clutters, repair all the damages in the house and decide what price wills your home. The most important is making the advertisement in a real state website and if you want on a newspaper or magazine, too.

You need a long time preparation period and you should do it long time before you want to sell it. You must throw away your emotion with your home and think about it as a marketable house. Who want to buy your home should think as their great new home not yours old home.

Now it's time to clean your old clutters in your home. I know you're emotionally attached with some of these clutters and I remind you once more you should throw away your emotion. Give away to someone that has less than you. Think about all clutters in the closets, garage, attic, and basement. The new buyer doesn't need to see some of the clutters in those places.

All you need to do now is repair all the broken things. Repair the damages for selling home doesn't mean you do anything costly such as remodeling your house. You need to save your money to buy your new home or to obtain new loan. So, checking lights, pumps, closets, floor, wall, ceiling, windows, doors and toilets is a must do for selling home.

One of the most difficult things to do in selling home is to decide the price of your home. Don't set the selling price too high because you might get difficulty to get a buyer. Dropping the price later it might be too late. In average, it take about six months long to sell a house and if there's no one who buy your home in this period of time the other buyer may think that you will be desperate and they'll make a lower offer. Do a research for prices near you and consider talking with an expert. Setting the price of your home is very important to make a good sell.

Next thing is to make advertisement about your selling home in the internet, newspaper or magazine. You should make an attractive but not exaggerating because buyers might think it doesn't make sense if you make advertisement like that. There's someone who wants to buy your home, go show your home to them. Don't be at home when they come to see the home. Before they arrive, open the windows to bring some fresh air inside the house. Keep the house clean and throw away the kitchen trash. If You follow all this important steps You will sell your home in a breeze.

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Tips To Improve The Value Of Your Property by Eze Ikechukwu

In ordinary business, price and value may mean the same thing, but in real estate investment, they are really worlds apart. While price is the amount the owner is ready to part with his property, value is the quality or worth of the property, and this is what determines the price of the property. With the right knowledge of the vital tips, one can turn a property around for maximum profit, while a novice may look at that same property and consider it of low value. Adequate knowledge of these is very vital for making a wise investment.

One of the factors that can add value to a property is proper landscaping. This includes having a flower garden, surrounded by pre-cast kerbs. Carpet grass or another type of flower at the center will add beauty to the property and attract buyers (quality buyers) to your site. Also, cementing the entire outside of the property with concretes adds value to it. Using interlocking paved stones improves the beauty and value of the property, and the other good side of this is that it is cheaper than concrete. This could be used to construct beautiful walk-ways and car parks. When these are in place, the bargain price will be to the favor of the seller and to the delight of the buyer.

As a seller, you must be able to be in charge of your emotions in order to make good profits. Don't be in a haste to sell your property. There are some investors with cash waiting to increase their portfolios, and when they see any desperation in the seller, they will price the property down and later sell high to their own advantage. Know that property investments takes time to grow, just place adverts in the right mediums, tell your agents to source for buyers, but let them know that you are not desperate to sell, relax and wait for the best offer before selling. Understanding these simple but fundamental principles, just like in any other business will make an investor in real estate to succeed.

Ikechukwu Eze is a pastor, motivator and inspirational speaker.

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Home Improvement Money Is Available by Jamie Woods

Buying a house that needs repair is often very challenging, because lenders won't lend the money to buy the house until the repairs are done, and the repairs can't be completed until the house has been bought. Also, in today's quirky market, getting home improvement money from a bank or lending source if one already owns the home is near impossible because banks and lenders are only issuing (approved) home equity or standalone second loans up to 85%, sometimes 90% of the properties current market value, and even if such a loan is made, the rates and terms are daunting, thereby putting such loans out of reach for most homeowners. Credit card companies are reducing people's limits, always changing their terms and are not viable options for home improvements. Not to mention, who can or wants to borrow megabucks on a credit card?

The Office of Housing and Urban Development's (HUD) 203(k) program can help you with this challenge and allow you to purchase or refinance a property PLUS include the cost of making the repairs and improvements. The FHA insured 203(k) loan is provided through approved mortgage lenders. It is available only to approved people who intend to occupy the home. Multi-family properties and mixed-use properties also may qualify, under certain conditions.

The down payment or equity requirement is 2.25%.

In short, the 203(k) loan includes the following steps:

- A potential home buyer finds a home and executes a sales contract after doing a feasibility analysis of the property with their Realtor and chosen contractor(s). The contract should be contingent upon the borrower's 203(k) loan approval. Also, the seller needs to allow visits from a HUD consultant & contractor to analyze the cost estimate and extent of work needed and or wanted.

- The home buyer then selects an FHA-approved 203(k) lender or broker and arranges for a detailed report showing the scope and type(s) of work to be done, including an itemized cost estimate on each repair or improvement of the project.

- An appraisal is ordered to determine the as is value as well as the value of the property after renovation.

- If the borrower is approved, the loan closes for an amount that will cover the purchase or refinance cost of the property, the improvement costs and all allowable closing costs, which is generally about 3% of the loan amount. The amount of the loan will also include a contingency reserve of 10% to 20% of the total remodeling costs and is used to cover any extra work not included in the original proposal. Any unused funds from this reserve account at work completion are used to pay down the loan balance.

- At the closing, the seller of the property (or the homeowner's current lender, in the case of a refinance) gets paid off and the remaining monies are put into an escrow account to pay for the repairs and upgrades during the rehab period.

- The mortgage repayment and construction begin right after the loan closes. The borrower can choose to have up to 6 mortgage payments (principal, interest, taxes and insurance) put into the cost of rehabilitation if the property is not going to be or cannot be occupied during the improvement process, but it can't exceed the length of time it is estimated to complete the improvements.

- Escrowed funds are disbursed to the contractor during the construction through a series of HUD-approved draw requests for completed work. To ensure completion of the job, ten percent of each draw is held back; this money is paid after the lender determines there will be no liens on the property.

If you're a homeowner or prospective buyer of a "fixer upper" and you are seeking home improvement money, you should strongly consider exploiting this resource. Note: self employed applicants are extremely difficult to qualify due to their absence of declared net income. These are fully documented loans only, no "stated income" or "ALT-A" home improvement loans like this exist, unfortunately.

If you are a home improvement specialist that is losing jobs because of the demise of homeowner equity and a lack of homeowner payment options, you really should read up on this a bit more. If you are a Realtor who knows of fixer upper properties, you also should research this a bit more. It's what the market right now is starving for!

As always, I'm here to help!

~ Jamie

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