Tag Archive | "mortgage buyer"

Seven simple Fixes To Dramatically Improve A Homebuyer’s Initial Impression

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What do homebuyers see when they look over your home? Is it clean and uncluttered? Does it look well maintained?

What kind of impression is your home exibiting when prospective homebuyers look at it?

Why does it really matter?

Why can’t buyers see the potential?

The answers to all of the previous questions may mean the difference between your home selling quickly, or selling very slowly, if at all!

That cut point is a huge deal.

The things you do before you put the house on the market will matter more than you might imagine. Consider your product, the home you are trying to sell as a series of photos. That’s how prospective buyers will see your product. Buyers will see a group of images that they either care for or don’t care for. Make sure all the images are appealing photos. Every door a buyer walks through is an opportunity for you to stage a beautiful image to be remembered.

1. The first image a prospect will see will be the outside of your home. It may be the most important image or photo of your home the buyers will see. If you have trouble visualizing what buyers will think of your home, take a photo yourself and correct anything that doesn’t look appealing. Paint and landscaping are very inexpensive fixes and can make a huge impression on prospective buyers. And remember the colors of the driveway, the sidewalk, the exterior siding, the landscaping and even the roof colors all must coordinate well.

2. Then a prospect who likes the exterior of your home will want to go into the front door. What is the next image they see? Is it the tangle of video equipment and wiring that make up your home entertainment system? Is it stacks of shoes and clothing? Or is it a beautiful entry that would make anyone proud? Make it look good. For houses with a formal entry way a nice rug and a nice table set with some fresh cut flowers may be all you will need. If your door opens straight into your living area, make the wall on the other side of the door as attractive as possible. Put your AV equipment in an inconspicuous spot or remove it entirely.

3. The next big deal may be the kitchen. Kitchens tend to have a lot of visual clutter. Clean and clear away all the stuff. Take the [flour and spice] canisters and appliances that sit on the counters and store them somewhere else. You want homebuyers to see a kitchen that shows as beautiful and as updated as you possibly can make it look.

4. The next photo that is really important to buyers is the master suite. What will be the first thing a homebuyer notices when they peer into the space? It should be a luxurious bed with a headboard, 2 side tables with lamps and maybe a nice piece of art over the headboard. This room is supposed to be an escape from the problems of the world. This illusion is better for resale as well as your checking account.

5. All bedrooms in your house should be staged with a bed, some bedside tables and lamps on the other side of the door. Most homebuyers are looking for at least 3 bedrooms. If you have more than three you can set one up as an office. But remember, you cannot leave an office with a mess of personal papers when your house is for sale. Besides being a security risk for your personal business, it won’t be a very nice picture. A staged home office has a desk with a lamp and a desk chair. That’s it. The desk must be facing the door with the chair behind it also facing the doorway.

6. The next most important rooms are the bathrooms. They need to be clean and appear near new. Nasty stains will send buyers running for their cars, not buying it. Small repairs and fix ups will serve you best. Do not litter the bathrooms with cleaning items and various appliances. Pretty soap dispensers and fresh linnens are OK, but nothing else. Clean, clean, clean!

7. Dens and rec rooms are the next most important pictures. If your family room is a wreck it will turn off homebuyers. These rooms often end up being collecting area for all the stuff you bring into a home. Schoolbooks, sporting equipment, briefcases, purses, work papers, AV equipment and wiring. Clean, declutter and make it look like a relaxing family space.

Those first impression photo opportunities are critical for your goal of selling your house. Make sure each and every doorway leads to a pretty picture. Notice that many of our suggestions are about cleaning, polishing and getting rid of clutter. When you want to sell a home less is more. When homebuyers are buying a home they are trying to achieve a dream. Don’t present them with a nightmare. Let them see their dream images.

One last thought. Taking care of all of the above will greatly improve your chances of a quick home sale as well as a good price. However, there are two little words that by themselves will get you a flood of prospective homebuyers. Those two words are, owner financing. Now don’t hit the back button, hear what I have to say. By offering owner financing does not mean you will have to wait 20 or 30 years for your cash. You can easily sell the private mortgage created from the home sale to a mortgage buyer or as many call them a note buyer. There will be a discount on the sale and you may have to hold the mortgage for a couple of months for it to “season” but you will most likely 1) Get you top dollar for your home, 2) Not even need a real estate agent and their commission, 3) Sell your property much quicker saving you monthly carrying costs, 4) Receive monthly income during the seasoning period and 4) Receive a down payment (you should get at least 10% down.) at closing. So if you don’t have a very large mortgage on your home, this is a terrific way to once and for all be rid of the home and end your frustrations. Oh, and imagine putting together the above preparation steps with owner financing. The results might just blow you away.

How To Sell A Home On Your Own Quickly In A Slumping Real Estate Market

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People trying to sell their home tell me this all the time. I just can’t sell my home on my own, particularly in this housing market. But your average real estate agent may not be successful in selling your house either. If you are hoping you don’t need to do anything but list your house with a real estate agency, you may be disappointed. The more difficult the market, the more you need to cover all the angles to sell your home. And you know what, you still have to do these things whether you sell through a Realtor or sell the home on your on.

Recent home sales are slower than they have been since the 1980s when rates were in the teens, in spite of today’s record low interest rates, however there are a number of tasks you can do to help your home sell and sell quickly, too.

1. First, add some great street appeal before you put your home on the market. Without good curb appeal, most prospects won’t bother to come inside

2. Set the price for your house right. The key here is a realistic view of your competition. An overpriced home is the most common issue that results in a slow sale whether you are going to sell your house yourself or through an real estate agent.

3. Put a fresh coat of paint on the outside and inside of your home if it’s been some time since you’ve painted. Neutral, fresh paint will look good to potential home buyers. Skip exotic or wild paint treatments and wallpaper. Buyers don’t go for them. Do it yourself if you can do a good job. The big home centers can help you with these important tasks.

4. Clear out all that excess clutter and junk, enough to leave your closets, the garage and even interior rooms a bit empty. Closets should also have nothing on the floor.

5. Give your home a thorough cleaning and stage your house like a model home. Have it available for a prospect with virtually no notice. The previous item will make this process much easier.

6. Make everyone aware your home is listed for sale. You never know, your neighbors may want to pick their new neighbor and help themselves as well as help you. This worked great for one of our homes in the slow upper Midwest real estate market. Our home was sold and closed in 4 weeks surprising the selling agent we hired who had nothing to do with finding our buyer. To show just how slow the market was, the home across the street from ours had been for sale for over a year and was still on the market when our moving van left.

7. Put an advertisement for your home in the local papers. It worked for us again in a slow market. We didn’t bother with a real estate agent this time. We received an offer from the first looker and closed within 6 weeks.

8. If your area’s real estate market is really slow, consider offering owner financing if possible. Those two little words can do more than nearly anything else to get tons of prospective buyers. Many home buyers in the current real estate market, even ones with decent credit have difficulty getting a loan. This is particularly true for self-employed buyers who many times have enough money for a good down payment. Solve their problem if possible. You can still effectively get all cash for your home by selling your private mortgage note to a mortgage buyer. One thing to keep in mind. You may have to hold the note for 60 to 90 days for it to “season” a many private mortgage note want this seasoning before you sell a note or sell private mortgage to them.

We are in DIY times and home selling is no different. If the normal sales just aren’t happening you can take charge and make things happen for you through FSBO! Take that last point seriously. Your work can have a much greater impact on selling your house than any real estate company or agent.

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