It doesn’t matter where you own your property these days you are competing with foreclosures that have wiped your market value out with below market sales. A disregard for foreclosure inventory and pricing in comparison to your property can lead to extra long market times and carrying costs associated with unwanted real estate. How does one overcome foreclosure pricing. There are several ways:
1) Owner Financing and owner financial assistance. Many people are getting foreclosed because they are not able to refinance and many other people are out there trying to buy property but are not able to get financing. Helping buyers finance their properties is a great way to sell at your price or make up the difference in interest income. The most common way of owner financing is Contract for Deed. In short this is a sales contract where you the seller hold the deed until you are made good on the loan you provide to buyer to purchase your property. Many of the Sellers on Marketmaking.com real estate exchange can seller finance for buyers. This option is only doable if you have substantial equity in your property. We can help you navigate your options here and help you find the right buyer. Please call our expert agents to explain you the different options.
2) Lease to Own Option. Lease to own is to allow someone to lease your property for one to three years and give them the option to purchase the property at any time during that time for a price agreed upon today. For this option the renter and future buyer pays as deposit (“option fee”) which ranges from one to ten percent and is typically around five percent. This option fee is paid upfront and is applied towards the purchase of the home when the renter decides to buy the house by exercising this option. It is structured like a car lease. So the renter pays the option fee upfront, a monthly rent which includes an amount for using the property and an amount that goes towards purchase of the property should the tenant become a buyer and exercise this option. The option fee and additional rent that serves as credit towards purchase is non-refundable by the seller should the tenant decide to walk away and not buy the property or default on rent. Lease options are becoming more popular as it is difficult to get financing and can help buyers and sellers transact when financing or purchase is possible in the future. Our agents can help you structure deals with lease options and can help you if you are buyer or a seller.
3) Seller’s Incentives. Another popular and effective option is for the seller to provide incentives to buyers to buy their property. From closing costs to new carpet of choice the limit is sellers imagination. As expert negotiators and home sellers our agents can give you great ideas so you reach your goals.
4) Save money or real estate commissions. By using marketmaking.com and Rushabh Investments LLC you have made the decision to save money on real estate transactions, market your property to able and ready buyers and get more value out of your real estate. We can really make it easy.
We can be reached at firstname.lastname@example.org, 312-933-4448 or 800-840-9826. Contact us immediately so we can help you reach your goals.