Real Estate Deals
Real Estate transactions come in all shapes and sizes. They can range from just a Regular Joe selling his house, so he can move to his new job, to a Commercial Real Estate Investor flipping a multi-million dollar property for a huge profit.
In most parts of the world real estate (real property) is one of the places where true wealth is stored. Don’t let the mortgage crash of the mid-2000’s fool you. That was just part of the cycle and the real players were there to pick up the pieces at big discounts. Once all the properties are absorbed back into the marketplace and prices stabilize, the half price sale will be a thing of the past. Many will be wondering why they did not pick-up a few deals themselves while we were in the bargain basement of prices.
In most parts of the world real estate (real property) is one of the places where true wealth is stored. Don’t let the mortgage crash of the mid-2000’s fool you. That was just part of the cycle and the real players were there to pick up the pieces at big discounts. Once all the properties are absorbed back into the marketplace and prices stabilize, the half price sale will be a thing of the past. Many will be wondering why they did not pick-up a few deals themselves while we were in the bargain basement of prices.
What If I Need To Sell Right Now
The flip-side of that coin is people that need to sell their house right now. There is a lot of competition out there with all of the low priced real estate on the market. Ideally you did not plan to sell your home for less than you paid for it. Depending on your situation there are other options, ranging from a lease purchase agreement to owner financing with a wrap-around mortgage. Some of these can even help you get a much higher price because you will be one of the few offering these options. If you do just have to have that all cash buyer immediately, all is not lost but you do have your work cut out for you.
Make It Shine
You have probably heard the term good curb-appeal and knew it was true, but have you really taken it to heart? People make the decision to buy their personal residence with emotion and then justify it with logic the best they can.
Unless the purchaser is a handy-man or bachelor searching for a low priced pad, they are not looking for the best deal on the block. They may think they are, but unless it is grossly overpriced the prettiest house in the neighborhood always sells first. People want to move in on Friday and get back to work and their normal-life on Monday. They are not usually looking for a fixer-upper unless they’re in the rehab business.
Most any bank own property that is on the market needs a fair amount of work, even if it is only a few years old. People are just not concerned with the condition they leave the property in when they are being foreclosed on and evicted.
Unless the purchaser is a handy-man or bachelor searching for a low priced pad, they are not looking for the best deal on the block. They may think they are, but unless it is grossly overpriced the prettiest house in the neighborhood always sells first. People want to move in on Friday and get back to work and their normal-life on Monday. They are not usually looking for a fixer-upper unless they’re in the rehab business.
Most any bank own property that is on the market needs a fair amount of work, even if it is only a few years old. People are just not concerned with the condition they leave the property in when they are being foreclosed on and evicted.
What If You Are Looking To Buy
If you do have the time and some extra money after the down payment for some remodeling, there are some great deals out there. Most lending institutions are in the business to receive monthly payments. They do not want to hold an inventory of vacant houses.
Don’t get hung up on one property. Find several different houses you would buy if you could get a deal on one. Make an offer on one with a 4 or 5 day expiration date to your offer. If you don’t get that one, make an offer on the next one the following week, and so on. You will probably land a great deal after just a few offers.
Don’t get hung up on one property. Find several different houses you would buy if you could get a deal on one. Make an offer on one with a 4 or 5 day expiration date to your offer. If you don’t get that one, make an offer on the next one the following week, and so on. You will probably land a great deal after just a few offers.
