Whether you’re dealing with a short sale or trying to avoid paying a double mortgage after buying a new house, you’ve found yourself in a position where you need to sell your house and quickly. For great tips on how to speed up that sale, keep reading.
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The best way to proceed is to choose an agency first and then ask them to suggest a couple of the top agents. Stick with the person you choose. If you see a sign in front of a house with an agent listed, their responsibility will be to the seller first and you, the buyer, second. Let your agent know which property you are interested in and allow them to take over from that point.
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First of all nobody knows what the exact value of your house is! But you can get a good idea based on similar comparables and determining the ARV (After Repaired Value) of the property – in other words, the market value of the property after it has been renovated. The key word here is after renovations. The only accurate measure is to see what other similar houses have recently sold for in the area.
Its been said that it takes money to make money and although I don’t agree with that completely it does help – a lot. By refinancing your existing property you can get the capital to buy another. With property prices as cheap as they are right now you can easily afford to buy something very valuable for cheap.
In summary there usually is a marketing effort that goes into attracting the motivated sellers, time to look over deals, visit houses, negotiate deals, to find the few that provide some profit all of this needs to be factored into your profit. I’ve purchased hundreds of deals and regardless of what the seller made, I was happy with my profit. If you can purchase at a price that makes financial sense, then your profit should not matter. Just don’t expect to get rich off a couple of deals.
If you’re looking to purchase a cabin for sale, or perhaps you want that cottage feel, then you should know what the difference is. Does it really matter? It might.
Remember, do your own due diligence. Review the comps. Drive by each one to get a feel for the neighborhood, and what you plan to do. Determine your costs. Determine the price that works for you, then negotiate your best deal. When you follow this process, you’ll never worry that someone has taken advantage of you because you’ll know for sure that the deal is profitable.