Learn How To Sell Your Home

There are some companies who offer to buy your home for quick cash and no-hassle, but did you know that they could only be offering between 60% to 80% of your property's market value?

These deals may sound appealing, but you could be losing out on a substantial sum of your investment. Companies who advertise on billboards and signs on the side of the road are often looking to target sellers who are going through significant life changes and hoping to sell quickly, such as:

  • Sellers who are relocating for a new job

  • Sellers who are experiencing bankruptcy

  • Sellers who can't sell their homes

  • Sellers who are divorcing

  • Homes in foreclosure

  • Homes that are vacant

  • Homes that are damaged

These types of buyers may prey on homeowners who find themselves in a complicated and stressful situation. They might try to convince a seller that working with an agent will cost them more but sellers may actually earn more by hiring a listing agent which often results in as much as 125% of a home's fair market value.

Another strategy these companies use is offering to take the title “subject-to” your existing loan. Subject-to allows buyers to purchase a property without undergoing a credit report or assuming a loan from a bank resulting in a faster closing time on a financed home. This allows the buyer to become a homeowner and they will also agree to taking over your mortgage payments to your lender.

This sort of agreement is often discouraged by lenders who have written clauses to prevent buyers from taking over someone else's mortgage. If you agree to sell your home to one of these types of companies, you could still be held accountable for the mortgage payments as the original borrower if the buyer misses payments or goes under foreclosure.

It is always best to consult with a home selling specialist before selling your home. We educate you, we don’t cheat you. To learn more about your options, contact Qulia Bryant today for your selling needs! Call us: 833-704-HOME.

Source(s):

https://www.thebalance.com/we-buy-houses-for-cash-is-it-for-real-1799045

https://www.thebalance.com/buying-subject-to-an-existing-loan-1798423

https://listwithclever.com/real-estate-blog/how-does-we-buy-houses-for-cash-work-and-why-to-avoid-it/

https://www.carletonsheets.com/resources/articles/strategies/1031-exchanges-articles/what-you-need-to-know-about-subject-to-real-estate.html

https://www.groco.com/readingroom/realestate_subjectto.aspx

https://www.jwbrealestatecapital.com/what-is-subject-to-real-estate/

 

Six Steps to Buying a Home

Whether you are a first time home buyer or currently a homeowner searching for a new property in a better neighborhood, the home buying process can be an exciting yet overwhelming experience. That’s why we’ve broken down the home buying experience into six simple steps!

  1. Choose the right realtor. You want to make sure that your realtor understands your needs. They will work tirelessly to make the transition to finding your new home as simple and easy as possible. Which means less stress for you. Make sure your realtor is a professional who knows the market and can identify the best home for your value.

  2. Get Pre-approved. A pre-approval certifies that your lender has checked your credit and verified your documentation to approve a specific loan amount for your future home. This can be your bank, a mortgage lender, or local home buying programs.

  3. It’s time to shop! Now you can really begin your search for the perfect home and negotiate offers.

  4. Home Inspection. A home inspection is super important in determining if there are any defects to the property once you go under contract. There are a variety of home inspections including a full home inspection to radon inspections, so make sure you visit our post on the “Top 5 Home Inspections” you should consider before moving in!

  5. Home Appraisal. Getting a home appraisal provides a professional estimate on the value of the property. This will determine whether the home’s value is actually worth what you’re able or willing to pay.

  6. Congratulations you’re a homeowner! You’ve reached the final step. It’s now time to get the keys and go to closing.

To learn more from a qualified and experienced agent, contact us! Call: 833-704-HOME or email Qulia Bryant via quliasells@gmail.com for specific needs.

Source(s):

https://www.investopedia.com/financial-edge/0411/5-things-you-need-to-be-pre-approved-for-a-mortgage.aspx

https://www.investopedia.com/articles/pf/12/home-appraisals.asp

https://www.discover.com/home-loans/articles/the-home-appraisal-process

 

Location, Location, Location!

The search for your dream home can be an exciting, yet overwhelming experience. One of the key aspects of finding your perfect home is considering the location. Whether you’re hoping to live in a city, suburb, or rural area, there are important factors to keep in mind when determining your future place of residence.

Neighborhoods that stand out among others typically provide the lifestyle that buyers desire. They are often situated in areas that are accommodating and supply easy access to local recreation, shopping areas, education, and have high livable scores which are publicly available on sites such as areavibes.com and walkscore.com.

You may be more inclined to purchase a home in an area that is in walkable distance to your favorite beauty salon, grocery store, or has access to a community pool and parks, rather than a neighborhood that would require a longer commute to these niceties. The significance of these luxuries depends on your personal lifestyle and their proximity to the neighborhood where you choose to live.

Location also determines whether the value of your home will progress or regress.

The principle of progress estimates that the value of your home increases when found in close proximity to other high-valued properties in a desirable neighborhood. A modest or less expensive house in a pleasant neighborhood will increase in value when found among other nice and more expensive properties.

The principle of regress assumes that the value of your property will decrease when found among less-expensive homes in less-desirable neighborhoods. Investing in major remodeling or changes in a home that is situated in a neighborhood with less-expensive houses will bring the value of your home down.

Location and livability aren’t just factors that you should consider when purchasing a home. These features will also be important if you ever decide to sell your home in the future, since the community features and amenities will affect the resale value of your home. To learn more about finding the perfect location for your new home, check out our video on Popular Charlotte Neighborhoods.

Find Your Dream Home With Perfect House Realty

Home buying and selling can be an intimidating and complex process. The team at Perfect House Realty are committed to helping buyers and sellers in the Charlotte, North Carolina area understand their options. Call us at 833-704-HOME or find your dream home online.


Sources:

https://www.prepagent.com/article/principle-of-regression-progression

https://www.thetruthaboutrealty.com/factors-that-determine-real-estate-value/

https://study.com/academy/lesson/the-principle-of-progression-in-real-estate-definition-example.html