How To Sell Your House In Just 7 Days
When real estate agents place a house on the market, they essentially network to find interested buyers. Sure, they may create full-color flyers and brochures and plant a For Sale sign on the front lawn, but they connect to most prospective buyers using a networking tool called the MLS (Multiple Listing Service). When a seller works through an agent, the agent posts the listing on one or more MLS. Buyers' agents can then pull up these listings to find houses for their clients. The top agents also network with large companies that have relocation divisions. In Chapter 19, I strongly recommend that if you decide to sell your foreclosure property, you work through an agent who has access to all of the multiple listing services in your area. Using the MLS enables you to tap the power the most powerful networking tool for selling the property quickly and for top dollar.
Chances are you have already encountered some of the many pitfalls in selling your home. Perhaps the first problem you encountered was listing your home with a local Real Estate agency. The agent probably had a few showings and maybe he even presented you with an offer. But it was so low you were shocked. Inside these pages is a step-by-step method to sell your home We will gladly answer any additional questions you may have and go over the procedures with you. We look forward to talking with you and can instruct you further on how you can sell your home in the next 2 weeks. Call James at 205-819-1694for the details on this exciting way to sell your home fast 7. Take all calls live if possible, follow the little booklet qualifications questions and commitment statements to the letter. Do not make the number one mistake many sellers make by changing the techniques in the booklet. This is the best way of selling your home, it works and has been proven over and over. We have had over...
The multiple-listing service contract provides for selling agents to split commissions with the listing office when a sale takes place. Obviously, the multiple-listing book provides the maximum exposure for the property owner every licensed agent is a potential seller. The value to me is keeping an eye on properties that stay in the book for a long time, say six months or even a year. Sellers who can't sell in that length of time often become extremely motivated. Offers they never dreamed they'd accept when they listed the property somehow become much more acceptable to them after a long dry spell.
Estimating the market value of a house is easiest with the assistance of a real estate agent who's knowledgeable about property values in the area. A qualified agent can pull up MLS (Multiple Listing Service) sheets on comparable homes that have recently sold in the same neighborhood and quickly provide
Under current tax law, you can also pocket substantial tax-free profits when you sell your home for more than you originally paid plus the money you sunk into improvements during your ownership. Specifically, single taxpayers can realize up to a 250,000 tax-free capital gain married couples filing jointly get up to 500,000. In order to qualify for this homeowner's gains tax exemption, you (or your spouse if you're married) must have owned the home and used it as your primary residence for a minimum of 24 months out of the past 60 months. The 24 months doesn't have to be continuous. Additionally, the IRS now provides for pro-rata (proportionate) credit based on hardship or change of employment. Also note that the full exemption amounts are reduced proportionately for the length of time you rented out your home over the five-year period referenced above.
Your agent has immediate pipeline knowledge of when a bargain property is listed for sale, either as a member of the multiple-listing service or by networking through associates and contacts. You'll get the information quickly, so you can write an offer fast if the property is right for you. Being first, or near first, is very important in this business.
A number of good Web sites can lead you to potential commercial real estate deals. The most well known is www.loopnet.com, which is sort of a multiple listing service for commercial real estate properties. Another well-known online resource is CoStar.com (www.costar.com).
In many metropolitan areas, looking at the properties on a Multiple Listing Service (MLS) or in the newspaper or online listings isn't enough. The best deals are often the ones that don't make it into these sources. This is where the insider information from real estate sales agents can make you the bride and not the bridesmaid. (Of course, many brokers are themselves interested in investing in income producing properties, and they have the first chance at the best deals.)
You do not need a real estate license in most cases. I have bought and sold a lot of properties. I can put them under contract or option and sell them to somebody else. A real estate license only lets you go to the Multiple Listing Service (MLS) and make commissions off the sales of properties that are listed. This book outlines other creative ways to make money in real estate besides using MLS.
And that is exactly why my rich dad said the average investor does not make much money in the market. Rich dad said, The average investor has the count your chickens before they hatch mentality. They buy items that cost them money each month, yet call them assets based upon opinions. They count on their house going up in value in the future, or they act like their house can be sold immediately for what their real estate broker told them it is worth. Have you ever ended up selling your home for less than what your broker, or banker thought it was worth I have. As a result of basing financial decisions on these opinions and expectations, people lose control over their personal finances. That to me is very risky. If you want to be rich, you must take control over your education as well as your personal cash flow. There is nothing wrong with hoping the price of something goes up in the future as long as you do not lose control of your finances today. He would also say, If you're so...
Figure 4.1 shows the financial breakdown of a real property that we will use throughout the rest of the book as an example. It consists of two houses on one lot in Lawndale, California. Lawndale is in the South Bay area of Los Angeles and is a microcosm of demographics for most communities. It is an entry-level city for home ownership and first-time investors. Note that these are actual numbers from a real property taken from the Greater South Bay Regional Multiple Listing Service in 2002.
When given the choice to be a professional or to be an ordinary person, be an ordinary person. People don't want to sell their house to a professional. Not only are they afraid that the professional might be so sharp as to take advantage of them, they also find it difficult to build an emotional connection with a professional. Instead, be a person, an ordinary individual. Most beginning investors fall into the trap of putting on their professional persona almost like a suit of armor. They feel that this armor will protect them from the discomfort of a seller saying no to them and from the anxiety of looking like they don't know what they are doing. Little do they know that this armor that protects them also keeps the
In the real estate investment community, the REO people often form their own little exclusive club. REO officers may pass along leads for the best properties to their friends, relatives, and other well-connected individuals. REO brokers (who list the properties for the banks) have been known to omit certain properties from the public MLS (Multiple Listing Service), so they can privately offer the properties to their clients of choice.
We have bought notes secured by real estate through probate, and the usual way we found those was through estate attorneys who were handling the probate process and representing the estate. In addition to finding these opportunities through estate lawyers, you can also find probate property through the Multiple Listing Service (MLS, www. mls.com). The property isn't listed as probate property, but you can use the MLS to first find available property in the area in which you're interested in buying and then working through your local courthouse to determine which of those MLS-listed properties are currently in probate. This information is all a matter of public record.
If you took my advice and hired a top-notch seller's agent to list your property, she can handle the marketing for you, primarily by creating an MLS listing. If you decide to sell the home on your own, the marketing job falls on your shoulders, and without access to the MLS, you have to ramp up your
It's easy to look for a house online in any city. You just go to the city's multiple listing service (MLS) and see what's out there. With this service, you see prices, pictures, property features you name it. But for commercial real estate, no such service exists in each city. The next best things are independent online listing services for commercial real estate. Two companies have filled this niche, and they did it in a big way. One company is LoopNet and the other is CoStar Group.
You can also lend money directly to people, without going through this type of group. For example, you could contact local real estate brokers who can put you in touch with local mortgage brokers who have people who need a loan to facilitate a transaction to either sell their house or buy one.
In reality, not only do we not want you to sell your home, we want you to start thinking about all the additional things you would like to have or do if you were retired and had the time and money. We're not just talking about dreaming here, we're talking about dreaming big. For many of you that lump-sum gap may seem so large that you're thinking it would be completely foolish to dream about other things at this point. Nothing could be further from the truth. Dreams are what make us truly live. We don't work hard because work is fun we work hard to get the money to pay for the things that make us happy. The Reverend Robert Schuller said, It's unfulfilled dreams that keep us alive.
In General First of all, you need to determine how much you can afford to risk in general. This is money you have dedicated just to trading and is your total risk capital. You may have 400,000 available to you after selling your house. The question you need to ask yourself is how much do you want to trade with and ultimately risk 10,000, 50,000, 100,000, or the whole 400,000 Whatever you decide on you must know that there is a chance that money will be lost if you are trading actively. If you are investing in stocks, your risk of losing it all is small compared to trading futures, but it is still there. If you cannot stomach losing X amount, lower your total risk capital. Some people are comfortable putting all their money into one stock and holding it for a while. While others may only want to trade with 10,000 for kicks.
How to Make Your Home Sell
In order to revive the nearly unprofitable real estate market it is important that more and more homes are staged. This is a simple concept that ensures that a particular house that is for sales find appeal with more and more buyers. Apart from getting a large number of buyers so that the seller can strike a good bargain, it is also equally important for the seller that his house gets sold of quickly. It is important to increase the demand so that the market can get more lucrative.