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

 

The Importance of a Home Warranty

A home warranty is one of the best forms of risk protection next to homeowners insurance. Once you become a homeowner, you’re investing in a property that requires proper care and upkeep. That’s why it is important to acquire a home warranty plan to help keep you prepared for unforeseen incidences and maintenance issues. So many homeowners save on out-of-pocket costs because they are covered by a home warranty plan. But what is it?

While home warranties and homeowners insurance both protect against unexpected circumstances, a home insurance policy covers any accidental damage to your home and belongings due to theft, storms, fires, and some natural disasters. Homeowners insurance will help repair any wreckage to your home or personal property that was stolen or damaged. This may also include liability coverage which can help cover legal and medical fees if someone is injured on your property.

Home warranties are not required but are highly suggested because it will provide coverage on expenses related to HVAC systems (heating, ventilation, and air conditioning), plumbing, and home appliance repairs or replacements. This is an annual renewable contract that provides assistance in repairing electrical issues, leaks, and faulty appliances or will replace systems in your home that are beyond repair if they break down, such as a dishwasher or washer and dryer.

For all of those who are currently a homeowner or potential homeowners, please make sure you have a home warranty. Negotiate that within your contract and if you already own a home continue to renew your home warranty policy because it will definitely save you money in the future.

To learn more make sure to check out our video on “The Importance of Home Warranties” or reach out to our trusted agent, Qulia Bryant for more realty tips! Call us: 833-704-HOME or find your dream home online!

Sources:

https://www.ahs.com/home-matters/cost-savers/whats-the-difference-homeowners-insurance-vs-home-warranty/

https://www.allstate.com/tr/home-insurance/home-insurance-vs-home-warranty.aspx

https://www.thebalance.com/home-insurance-vs-home-warranty-4135608