Sell Property – 5 Ways to Successfully Sell in 2011 and Beyond

In this challenging real estate environment, which can be as nerve-wracking to navigate as playing a high-stakes game of poker, buyers seem to hold all the good cards.

But whether it’s luxury real estate or a rustic retro residence you’re looking to find a purchaser for, the key to “beating the house” and effectively unloading homes in a timely fashion today is knowing the best strategies for success. Here are the five proven ways nowadays to sell property fast, avoid the foreclosure process, and perhaps even cash in more chips than you came to the table with.

The traditional sale

The tried-and-true method of hiring a real estate agent and listing on the MLS continues to be popular. While the advantage to a traditional sale is that you get paid at closing as fast as possible, the disadvantage is that you probably got to the closing stage because you had to accept less money. Keeping your asking price low early in the game can result in a faster sale, but a steep price slash can be tough to stomach.

Following the traditional sale route can be frustrating in today’s market for reasons beyond high supply and low demand. It’s also about who’s setting the terms of the deal. In this market, the lenders dictate those terms. When banks impose stringent stipulations and lending requirements, you get fewer qualified buyers. They can’t get much wiggle room from lenders, so instead purchasers demand painful concessions from sellers in the form of a lower price, more favorable terms, and freebies thrown in the deal.

The lease purchase

An overlooked and underutilized tactic that can greatly benefit sellers and buyers alike is the lease purchase agreement, which essentially turns your property into a rent-to-own home for sale by owner. And when seller financing is offered, it completely eliminates the bank lender middleman, too.

When you rent out your home in a creative lease purchase arrangement, you’re likely to attract worthy candidates to buy, as their intention is to own, not just rent. These prospects are willing to invest non-refundable option money as a down payment that’s applied toward their purchase price, providing the tenant with the option but not the obligation to purchase the property within a predetermined time. In this transaction, you usually get a more favorable price for your home because you’re extending better terms to the tenant/buyer.

A twist on the lease purchase is the owner-financed home-which amounts to an upfront sale of the property whereby the seller holds a promissory note from the buyer that’s secured by the property as collateral, as a bank would, and title immediately transfers to the buyer. As with a rent-to-own home, the price and terms should be clear and mutually accepted in advance.

The difficulty with lease purchase agreements is that they require the buyer to be proactive, resourceful, and creative in generating an opportunity that otherwise doesn’t exist. Additionally, the terms and contract have to be carefully negotiated and structured to avoid legal problems.

The “pure” option

Another inventive way to attract the right buyer is to pursue a “pure” option. With this approach, you provide an “optionee” (who, in many cases, is an investor looking to sell the home to a third party) with a no-obligation, elective opportunity to buy your property at a predetermined price and within an agreed-upon time frame.

In exchange for receiving the option, the optionee should offer you some form of predetermined consideration, which can be upfront money and/or commitment to help promote your property (including any associated marketing/advertising/listing costs involved). The optionee can profit by selling his/her option to someone else if you agree upfront that this option is transferable.

The pros of the pure option are that you don’t have to recruit a real estate agent and pay a sales commission, saving you up to 6 percent or more on the transaction. What’s more, the optionee does the legwork of marketing to and finding a buyer for you, assuming he or she doesn’t personally purchase the home.

The cons are that you, the seller, have to fuel this opportunity yourself-in other words, it’s up to you to attract and appeal to prospective optionees, most of whom turn out to be investors. Another disadvantage is that you normally cannot sell your property to an outside party once your optionee has acquired the option on it.

The short sale

In a short sale transaction, the lender agrees to accept less on a property than what is currently owed on the mortgage. Banks would rather negotiate a short sale with you than engage in foreclosure because they typically net up to 15 percent more, on average with the former approach.

If you’re suffering serious financial constraints and risk having your home repossessed, you need to unload your property fast. The benefits of selling your home via a short sale are that you don’t have to endure the social stigma, stress, and severely damaged credit rating that accompanies a foreclosure, plus you’re eligible to buy another home in two years versus up to seven years if you had been foreclosed on. Additionally, thanks to the Mortgage Forgiveness and Debt Relief Act that expires after 2012, you won’t have to pay income tax on the dollar amount the bank writes off as a loss.

However, there’s no guarantee your bank will accept a short sale offer or work quickly with you, and if you don’t have the assistance of a skilled short sale specialist to guide you through the process, the likelihood increases that your short sale will fail.

The “subject to” sale

A “subject to” sale involves you drafting a contract to a buyer, who acquires your property’s deed but not the mortgage loan, which remains in your name.

Here’s how everyone benefits: The buyer makes your monthly loan payments in exchange for having a controlling interest in the property. The lender is paid on time in full every month and satisfied. You’re able to preserve your credit. Plus, after you inform your lender that you’re engaging in a “subject to” arrangement, you reduce the risk of the lender invoking a “due on sale” clause that normally happens when a property is sold. This provision permits the lender to demand immediate payment of the mortgage balance, which would be terrible timing for you.

Aside from the fear of an impending due on sale demand, the primary caveat of the “subject to” sale is payment uncertainty. While the buyer is liable for the title in a “subject to” arrangement, if the buyer doesn’t pay the monthly mortgage on time, they’re not liable to the lender-you are. It may be wise to secure an intermediary like a loan servicing or trust company that can collect and disburse the mortgage payments. In most instances, a buyer who is a professional investor will have these services in-house or a company that leverages these services.

Don’t go it alone

Smart sellers are wise to consider utilizing creative real estate strategies to unload properties in 2011 and beyond.

But you don’t want to pursue these maneuvers without the guidance of a real estate and investment expert who knows how to properly structure the transaction. A skilled professional can help you determine the best approach that fits your risk profile, understand the complex mechanics involved, and compete and succeed in a difficult and competitive market.

Sell Property Fast: Getting It Right!

You may need to sell property fast, for whatever reason and there are a number of strategies that you can employ in order to at least optimize or maximize your chances of success in getting the sale. Whether the property is vacant land, a second home or even your existing home, the need does arise and some pointers that may help are detailed below.

First and foremost it does not matter whether or not you are selling through an agent, realtor or broker or whether you will be marketing and selling the house yourself through the myriad of tools available today, you have to prepare the property itself to ensure that it is in the best possible state to attract the potential buyer. In the case of a vacant stand, you will want to make sure that it is at least neat with no garbage strewn across the lot as well as any unsightly bushes, weeds or grass being cut back. If you are selling a property with a house on it, then a little clean up together with a coat of paint may make the difference of whether or not you sell property fast or whether you will have to wait for someone to appreciate the diamond in the rough status that it may be in.

Within the case of a house a little maintenance will also go a long way, albeit on a purely superficial or cosmetic basis. Basic repairs such as plastering over cracks, fixing leaky faucets and replacing cracked windows will certainly go a long way in making the place look a lot better than a possibly dilapidated look that will for all intents and purposes drive potential buyers away. It is not necessary to spend a fortune on these repairs, but at least try to give the place somewhat of a makeover or face lift before even trying to sell the property.

A number of other tactics exist when looking to sell property fast, such as that of confirming the zoning of the property. In some instances land has been zoned for a variety of purposes including both business and residential, in which case you stand to benefit from targeting both residential and commercial buyers. Although this may not be the case of every property the potential thereof should be investigated, and the discovery of such may be the help needed to sell property fast or not.

Besides these very basic strategies that may be taken into account, you could furthermore opt for a lower sales price, depending on how desperate you are to move the property. Additionally the use of online advertising, marketing and exposure will also add value to your efforts in market exposure of the property in question.

For whatever reason you may have to sell property fast, take the time to prepare the property as well as yourself in terms of price acceptance and work required to make the property as attractive as possible and you will increase your chances of a quick sale, and hopefully a profitable one too!

Sell Property Quickly – Discover 5 Super Tips And Tricks!

After showing recent signs of recovery, it seems Britain’s property market is, in the words of Ben Hudson, a member of the Royal Institution of Chartered Surveyors (RICS), “once again on a knife edge.”

So if you need to sell property quickly, whilst there has been an increase in the number of properties being listed in the market, there is no sufficient demand from buyers, so prices are expected to drop further. “First-time buyers are in particularly short supply as the high deposits required by lenders prevent them from taking their first steps on the property ladder,” Ian Perry, a spokesman for the RICS, told The Telegraph. “Without sufficient demand property prices continue to slip back.

It’s very much a buyers market at the moment.” So if you’re selling your house, you cannot just sit back and let your pro estate agent do all the work. To get the best and quickest result, you need to be on top of the situation, take control and micro-manage if you have to. Here are five simple ways to help you sell house quickly.

1. Keep your agent on a tight leash.

Choose an agent who is not only smart, knowledgeable, and experienced, but one who you’re comfortable working with. Make sure he or she pre-qualifies buyers before opening up your house for pointless viewings. Ask your agent to find out what buyers will list their own property for. Make sure also that the agent brings buyers that have loan pre-qualification from a real, credible lender. Many people now get quick pre approvals from online lenders but these may not hold as they are based only on the buyer’s credit score.

2. Provide proof for what you’re saying your home is worth. Your asking price needs to be based on prevailing conditions in your local market and the actual worth of your house, so you need to be able to prove to your buyers that your asking price is fair. To this end, arm your agent with all the supporting documentation: receipts for home improvements, new appliances and maintenance, photos of both your house and the neighborhood, recent sales price of homes similar to yours,top rankings for area schools, and even low crime statistics.

3. Stage your home. Moving your furniture around, repainting your walls, and mowing your lawn for a picture-perfect exterior may just be for show, but it’s a show that can up the value of your home and help make a quick home sale. Some estate agents stage your home as part of the package, but if not, you may want to consult a stager or hire him or her to do the actual staging. Of course, that is going to cost a few hundred pounds for services alone, so if you think you can do it on your own, here are some tips to follow: Visit stagers’ web sites to pick up ideas. See how they arrange furniture to draw the eye to a room’s focal points by looking at before and after photos. Remove accent lamps from your bedside tables. Place them in shadowy corners instead to brighten and highlight special features. Put something intriguing, like a picture of a celebrity who has passed away or a drawn-back curtain that frames a beautiful view, to pique buyers’ interest and get a conversation going.

4. Price it right. You need to be ahead of the market, not in the middle of the pack of a falling market, for example, which is what characterizes the current property market. Try to figure out how fast it’s falling and start there. Mark your price at the current market value or at one percent (or more) below it if you want to be able to sell fast.

5. Sell to a cash home buyer. If you’re slashing your asking price anyway, it does not make sense to have to pay an estate agent commission when you can sell to a cash home buyer, does it? Cash home buyers will purchase your property at slightly lower than the market value, but with cash on hand, can complete the sale in a matter of a few days. You can keep the commission for yourself, and you won’t even need to spend for home staging, as they buy houses in any condition. With the economy not looking to improve anytime soon, the name of the game is quick home sale, and there is no quicker, more reliable, and hassle-free way to sell your house than to sell to a cash home buyer.

Selling Properties Quickly Through the Internet

There would always be times wherein you would be forced to sell your property for a variety of reasons. It could be that the job you landed on requires you to move to a very far off state. There would also be times that due a death of a family member or relative, which you will be forced to relocate and eventually sell your property. Regardless of the reason, selling properties is not a walk in the park, especially with the current economy.

Though one can employ the services of real estate agents for assistance, properties, houses still remain unoccupied and unsold. Not to mention that such individuals are only interested in their own cut and when a buyer appears. There are numerous people out there who lose opportunities in obtaining huge profits just because of their properties not being sold for the same amount as they were being originally sold before. The property stays unoccupied and unmaintained for years thus; it loses its original value.

At the same time, it is also difficult for interested buyers to purchase the property due to financial difficulty caused by the decline in the economy and of course, their own individual businesses. And even if they opt for a loan, banks, mortgage company and other lending institutions are very stingy when it comes to qualifying applicants. Though homeowners have the option to sell their properties for a lower price or commonly referred to as “For sale by owner”, it still would take time before the house gets sold, and even so, this is discouraging since these properties have their own sentimental value both in its historical background and of course, its monetary value.

Thanks to technology’s fast-paced development, the internet was invented and people can effectively sell their properties online through it. A person utilizing any search engine can definitely get potential buyers in a very short period of time. Furthermore, this guarantees that the buy gets direct contact with an interested buyer.

This is more financially favorable since the property owner need not pay for the services of a third party. In addition to this, you could also look for promising investors since these people don’t usually care the quality of the property as long as they find the price reasonable. And after purchasing the the building or house, they can just spend a bit to make some quick renovations which would definitely increase the value of the property overall. Whereas selling a damaged property to a standard individual would likely hold off from purchasing it since they prefer the product to be in great shape.

Overall, the best alternative to make quick money when selling your property is through surfing online. Not only can you have access to a wide selection of potential buyers but you also have access to potential investors who would not think twice in paying a short period of time. At the end of the day, it is still a win – win situation.