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Real Estate Information |
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Talk to a Lender Before You Sell Your Home
If you're looking to sell your home quickly, and for top dollar, the best thing you can do is to be able to offer your buyers some sound financing options. That's why developing a relationship with a lender can be the key to a quick sale, and to more money at closing. Some of your potential buyers will have already gotten themselves preapproved with a lender, but many won't, and being able to offer financing options will open up a number of possibilities for selling your home. The easier you can make finding a loan for your potential buyers, the better your chances of selling your home. Find out what type of loans are available at your local lending institutions, and what kinds of programs they can offer buyers. Ask about income qualifications, credit scores, down payment requirements, both for buyers with good credit and for those whose credit is less than perfect. Ask if the lender will allow you to contribute to the buyer's closing costs. Get an Accurate Appraisal If a banks or mortgage company uses in-house appraisers, it can sometimes cost you a considerable amount of money at closing. For instance, my husband and I once allowed buyers to use their own lender and ended up netting $13,000 less because of a low appraisal. We discovered later that the bank was known for understating appraisals. Don't sign a sales contract contingent on the appraisal of a buyer's lender; draw up your sales contract with a firm price and then give the buyers a specific time to arrange financing, based on that price. You don't want to have to lower your sales price to reflect a lower appraised value. Make sure that your lender's appraisers consider properties sold, but not yet closed and competing listings of similar properties when doing their appraisals, and not just past sales, because past sales alone may not give an accurate picture of your home's true market value in a fast-moving market. Even if buyers say that they are prequalified through a lender, it's worthwhile to explain that your lender may be able to offer better financing, and that you're willing to pay a certain portion of their closing costs for them if they'll use your lender. Having a relationship with a lender who is willing to help your buyers finance your home will give you an edge on your competition, and will go a long way toward selling your house quickly, and for top dollar. (c) Copyright 2004, Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
MORE RESOURCES: Jeff Bezos' secret $190M Seattle real estate empire revealed Business Insider I'm a Real Estate Investor: Don't Pay Off Student Loan Debt — Buy Properties Instead - Yahoo Finance Real Estate Transfers ~ through Nov. 23 The Bedford Citizen Francisco Real Estate: Why Homeowners are Selling at a Loss The San Francisco Standard New Legislation Proposes to Take Wall Street Out of the Housing Market The New York Times Dodge County real estate transfers Fremont Tribune RNR Real Estate Briefs – Texas & more Realty News Report Eastern U.P. real estate remains stable despite shifting national trends Sault Ste. Marie Evening News Real estate transfers: Dec. 8, 2023 RiverheadLOCAL Real Estate Transfers: August 1 - 15, 2023 The Owensboro Times Real Estate Sales Include Wealth Management Center Complex, Ranch For Vets Jamestown Post Journal Real estate: Foreign LLC buys Pizza Hut property in Perry Township Massillon Independent How a Kitchen Refresh Can Help Close a Real Estate Deal How a team approach brings sales, success Behind The Hedges Real estate records, 12/10 Lincoln Journal Star McColly Real Estate Holiday Celebration 2023 | LaPorteCounty.Life LaPorteCounty Life Massachusetts real estate transactions for Hampden, Hampshire and Franklin counties Dec. 10, 2023 edition MassLive.com OT Real Estate Spotlight of the Week: 4404 Fairbairn Court The Owensboro Times PTK spotlight: 50 commercial real estate projects to know in 2024 Arizona Big Media Real Estate Transactions for Dec. 9-10 | News, Sports, Jobs Nashua Telegraph XPO buys Yellow's Real Estate For $870 Million The Real Deal I'm a Real Estate Investor: Don't Pay Off Student Loan Debt -- Buy Properties Instead GOBankingRates NJ real estate: $20M Alpine mansion for sale. See listing NorthJersey.com Routt County real estate sales surpass $13.4M from Dec. 1-7 Steamboat Pilot & Today Chad Tredway Rejoins JP Morgan Asset Management as Head of Real Estate Americas | Chief Investment Officer Chief Investment Officer Real Estate Roundup, Retail Theft Arrests The Eastsider LA Jef Conn: From Lubbock commercial real estate to Texas Chairman of the Board Texas REALTORS KLBK | KAMC | EverythingLubbock.com Charlottesville real estate investor Phaedrus Acgtblu dead in apparent homicide - The Daily Progress A Strong 2024 Market? Get a Real Estate Coach Now | Florida Realtors Bezos Leaving Behind A Massive Seattle Real Estate Portfolio As He And Lauren Sanchez Plan Move Miami Yahoo Finance The Pickleball Courts Outside Our Townhouse Are TOO LOUD! The New York Times Greenwich Real Estate Inventory to Hit Zero in March 2024 Greenwich Sentinel Bay Area real estate: Where rent or mortgages hurt residents most San Francisco Chronicle Chad Tredway Rejoins J.P. Morgan as Head of Real Estate Americas, J.P. Morgan Asset Management PR Newswire Real Estate Property Transfers in Franklin for November 13, 2023 Williamson Source What's a Real-Estate Fund Worth? Depends on Who's Doing the Math The Wall Street Journal Coral Springs Real Estate Market Defies Economic Predictions • Coral Springs Talk Coral Springs Talk Is Jeff Bezos shopping for real estate in Palm Beach? The New York Post thinks he is Palm Beach Daily News Pacaso, The Real Estate Marketplace, Releases Report That Identifies Fast-Growing Luxury Second Home Markets Crowdfund Insider Could Bitcoin Cause Real Estate Prices to Collapse? DataDrivenInvestor Real estate news: DoubleTree near South Coast Plaza, JWA getting a $12 million makeover - OCRegister Viral New Berlin jungle home back on market after sale fell through: Open House - Milwaukee Business Journal The Business Journals Wheeler Development exec balances careers in real estate, folk music - Crain's Grand Rapids Business Wheeler Development exec balances careers in real estate, folk music Crain's Grand Rapids Business New Castle News | Newspaper Ads | Classifieds | Real Estate for Sale | BERKSHIRE HATHAWAY Home Services The ... New Castle News Valley real estate community steps up to support Operation Santa Claus ABC15 Arizona in Phoenix Ares Banks $3.3 Billion to Buy Real-Estate Fund Assets - WSJ The Wall Street Journal Apply for the Longtime Owner Occupants Program (LOOP) | Services Philadelphia Water Department REAL ESTATE | VIDEO | Charming and inviting 2-story home in West Bend, WI | By Wendy Wendorf, Homestead Realty washingtoncountyinsider.com Opinion | Real-Estate Collusion Is Finally Coming to an End The Wall Street Journal San Francisco's Russian Hill Mansion Sells for Half Its Asking Price Amid Real Estate Shift Hoodline Canadian Apartment Properties Real Estate Investment Trust Un stock rises Friday, outperforms market MarketWatch What Accreditation Shift Could Mean for Real Estate Investors Kiplinger's Personal Finance New York City Law Against Body-Size Discrimination: What the Residential Real Estate Industry Needs to Know Jackson Lewis REAL ESTATE BRIEFS: DEC. 9 Las Vegas Review-Journal Jeff Bezos's Homes: Inside His More Than $500 Million Property Portfolio Architectural Digest 20 Young Leaders Transforming the Real-Estate Industry in 2023 Business Insider Are Virtual Tours Still Worth It in Real Estate? Evidence from 75000 Home Sales Harvard Business School Working Knowledge |
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