Beware of House Buying Scammers
Selling a Home As Is by tommy on Monday February 10th '14, 4:29 pm
Texas House Buyers: You may be under the stress of having to sell your house to get out from under a heavy mortgage obligation or to avoid foreclosure. Perhaps you’ve found a great job but it’s in a different state and the time is drawing near for you to move with no hopes of finding a buyer. Whatever the reason you must sell your house in a hurry, there are honest and very helpful real estate investors that are glad to help you. There’s something in the transaction that will benefit you both.
With a nationwide trend of difficulty in any circumstance comes the advent of scam businesses that want to jump on the opportunity to separate you from your money and your property. The worst part of this is the situation you may be facing, the stress your entire family is under, and their ability to take advantage of you in your weakest and most vulnerable moments.
Many people are quite happy to hear from an ‘investor’ who wants to buy their house. The ads come in the mail, they come by email, and they may visit your home and knock on the door, just as friendly and accommodating as you might imagine a con artist to be. They offer to ‘help’ you get out of your financial difficulty by taking the home off your hands or making some other slick arrangement.
Sad Truth About Real Estate Scams
The sad truth about many of these scams is that they look good to you and give you a big sigh of relief, but you may be asking for even more trouble than you already have. Some popular scams are called contract bait and switch, which involves the buyer giving you a verbal version of a contract that you can easily live with. He comes back in a few days with a ‘formal, legal version’ which has been altered.
Another involves the investor getting the deed to your home. He allows you to stay in the home, which sounds good, and pay the mortgage to him. He isn’t paying your mortgage with the money, however, and may be taking loans against the property, or uses your equity to buy himself some things, leaving you with the mortgage unpaid and he with the deed.Another scam is the Liberian FSBO, or Nigerian Scam. Someone out of the country offers to buy your house for cash. All he needs is the account number for your bank so he can ‘transfer’ your funds. Guess what comes next?
Selling A House as Part of an Estate
Selling a Home by tommy on Monday November 4th '13, 3:42 pm
Selling a house that’s been left to heirs in other locations can be difficult. Sell the house to a real estate investor for quickest and easiest solution to the problem.
Texas House Buyers: Every day someone passes on and leaves a house or other property to their heirs. In many cases, there are homeowners who don’t live anywhere near their relations or the property becomes part of an estate managed by the state in which it is located. If there is no will, the property automatically defaults to the executor provided by the law.
If there are two or more heirs and no one wants to use the house for their personal use or to use as a rental, it should be sold and then treated as a liquid asset.
If you are an heir that has been left a home you are unable to care for, you may want to sell it quickly to add the proceeds to the estate for disbursement among the listed and legal heirs. If there are two or more heirs and no one wants to use the house for their personal use or to use as a rental, it should be sold and then treated as a liquid asset.
This is a very common occurrence. The heirs, whether mentioned in a last will and testament or by proclamation through the state where there is no written will, will be entitled to the value of the property. They can use it as they see fit or they can sell it and keep the proceeds minus any inheritance tax that may be due as a result of the death of the estate’s owner.
§ The heirs, whether mentioned in a last will and testament or by proclamation through the state where there is no written will, will be entitled to the value of the property.
§ In the case of multiple siblings or other heirs, it is usually best to sell the house and add the proceeds into the total amount of all the estate’s holdings.
§ A real estate investor can handle the entire process from start to finish without the owner’s physical participation if it is indeed difficult or impossible.
In the case of multiple siblings or other heirs, it is usually best to sell the house and add the proceeds into the total amount of all the estate’s holdings. The problem with a sale is that the new owners are often located some distance away from the house. This makes it very difficult to facilitate the needed tasks involved in selling a home. The best course of action in this case may be to sell the house to a real estate investor.A real estate investor can handle the entire process from start to finish without the owner’s physical participation if it is indeed difficult or impossible. The investor will actually buy the home from the heirs as is. This includes any repairs or clean-out that is necessary. Sometimes the heirs wish to go through the property looking for heirlooms, mementos, and other family treasures that may be left behind. It’s up to the heirs whether they wish to do this. The investor can facilitate the process through to closing and can usually be finished in a week if there are no complications.
What's My Credit Future Like When I've Sold My House
Selling a Home by tommy on Tuesday July 23rd '13, 3:53 pm
The timing is what will determine your credit after you’ve sold your current house. If there’s no financial issue or late bills yet, it’s the best time to sell. Don’t wait too long and get behind on your payments.
Texas House Buyers: If this is the first time you’ve owned a home and the first time you’ve sold one, too, you may questions about where you will stand once the dust settles. Many people are somewhat vague on the question of their credit worthiness after they sell their house, especially if they are selling to avoid a bankruptcy or foreclosure.
The answer lies in the timing of your sale. If you suspect that you will not be able to keep up your current bills and get your mortgage paid on time and you sell your house, the chances are very good that your credit will not suffer. In fact, if you head the trouble off at the pass and sell before you start missing payments, you shouldn’t have any trouble in the future at all. It is a wise decision that many are reluctant to make. Your home is your sanctuary and understandably has sentimental value to you and your family. When the practical side of you realizes that the house is too expensive under your current income situation, you can sell and keep your credit intact.
If you suspect that you will not be able to keep up your current bills and get your mortgage paid on time and you sell your house, the chances are very good that your credit will not suffer
This is a wonderful time to do so. There are so many other houses on the market for you to choose from that will possibly be much less costly than the one you currently live in and may have just as many square feet and similar features. The only thing it may not have is the expensive monthly mortgage payments. As long as you have not damaged your credit since you took out your original mortgage, you should have no trouble buying a different house for less money.
If you wait until you have lost a job or incurred expensive medical bills or college tuition, though, that stretches your budget every which way from Sunday, the tendency is to start paying for common items with credit cards. This could get you into grave trouble financially and ruin your credit. You can still sell your house to an investor at this point as they can get the deal done quickly and before you get into real trouble with the lender.The timing is everything when it comes to selling your house to improve or maintain your good credit rating. Waiting until the lender has to come and get the house from you is not a good option if you want to save your credit. Try to think ahead and do what is needed at the optimum time.
House Selling Tips
Home Selling by tommy on Tuesday July 23rd '13, 3:50 pm
House Selling Tips – House Buyers: Experts in home sales have differing opinions about many things when it comes to selling a house. There is one thing on which they all seem to agree, however. The house shouldn’t be shown with Fido and Tabby at home. Whether your buyers act as though they don’t mind, the fact is they may just be acting in a polite manner and won’t really tell you what they think.
People who are allergic to pets shouldn’t be exposed to yours, especially when you’re trying to sell the house. In fact, they may just go on to the next house if yours contains family pets as they will be certain of the allergy factor if they were to choose your house and move in. You should always disclose that there are pets living in the house but putting them in front of the buyers is another story.
Not everyone is comfortable with cats and dogs.
Are your potential buyers coming back for a second time to see the house again? If your dog wasn’t around the first time, don’t make the mistake of believing that you are now buddies with your buyers and think they won’t mind if the dog stays home this time. You could be making a big mistake. It could cost you the sale of the house.
Not everyone is comfortable with cats and dogs. You may not be able to wrap your mind around that, but do your best to consider that you are trying to sell your house and the market is very tough for sellers. Buyers are too rare to take a chance on turning away an interested buyer because you believe people should like your cat.
Do the best job you can do to provide a neutral environment for those you show the home to. Everything possible should be lacking personal detail so the buyers can imagine themselves living there. If they dislike animals and yours are wandering around the house while they are there, they may have a harder time imagining themselves in the house.That’s the ultimate goal when you show the house. You want the viewers to start picturing how their sofa will look along that wall, or what color drapes they’ll put in the master bedroom. Make it as easy as possible for them to dream of living in your house. Find a good place to take your pets while you show the house and be sure to pick up the toys, clean and hide the litter box, and pick up the waste from the yard.
Traditional Versus Investors
How To Sell By Owner by tommy on Tuesday July 23rd '13, 3:49 pm
A legitimate and reputable real estate investor will not make you feel pressured to sign something you don’t understand.
Sell Home Fast : The traditional method of selling a house will cost you both time and money. If you have the time, funds, and patience, it could work for you. If not, you might want to enlist the help of a real estate investor instead. You’ll receive a discounted amount for your house, but once you calculate the costs involved in a traditional sale you might find that you end up better off in the long run. It also requires less of your actual effort.
Real estate investors charge no fees. That might seem hard to believe, since they do so much when they offer to buy your house. Investors handle most paperwork and legal filings. They get the contract in order and are very good at explaining the details to you. A legitimate and reputable real estate investor will not make you feel pressured to sign something you don’t understand. If that happens, beware. Call someone else and don’t sign the contract. Investors are in competition with each other in most areas, so if one isn’t satisfactory you can call another who is bound to give you better service. It’s your house and you can sell it to whom you wish.
“Selling to a real estate investor, may be a better choice for you if you are in a hurry to sell or don’t have the resources to pay for what’s necessary when you sell traditionally.“
Commissions paid on traditional real estate sales can equal 3 to 6% of the total sale price. Along with that are the closing and filing costs. With that you may also be asked to do extensive repairs and even remodel if the house is outdated. The average house for sale in the traditional market can easily sit unsold for a year or even longer. That will cost you money, too, as you will be paying utilities, mortgage payments, and other expenses to keep the house up while you are selling it.Selling to a real estate investor, on the other hand, may be a better choice for you if you are in a hurry to sell or don’t have the resources to pay for what’s necessary when you sell traditionally. Since you need to move into another house, it could be a better deal for you to sell your house at a discount, get the mortgage paid off, and move on to your next place of residence. The other great thing about using a real estate investor to sell your house is that they can almost always complete the sale within a matter of days, not months or years. This will save you a great deal of time, money, and hassle.