How to Buy a Home With a Dark Past

On occasion you may come across a house that is perfect in every way, except for a few small details. A crime may have occurred there or someone (or a series of someones) may have died in the home. While most realtors will be up front about this reality you may have some concerns when it comes to buying a home with a dark past. There are many ways to alleviate the concerns you may have about your potential home, but in the end you may decide that the events that have occurred in your home make the home not worth buying.

When confronted with a home with a dark past people generally have one of two reactions. You may be interested in knowing what exactly went on in the home you are considering buying, and once the details are known you may reconsider. The home could end up being a perfectly wonderful home for you and your family, or you could be incredibly uncomfortable living in the house because of past events. You might even get a better deal on the home because of its dark past.

If the home has a history of violent crime the price may be lowered because of the negative publicity that has been centered on the home. While there may be no evidence that any violent crimes have occurred in the house there may still be a buzz around the location.

When looking at a home for sale the buyer has the ability to ask if the home has a dark past, and the seller must be honest according to the law. Houses that are rumored to be haunted are generally locations buyers will want to stay away from because of the uncertainty of the market value as well as the overall mystery of what is actually going on in the house.

If you’ve decided to dive in and buy a home that has a dark past you might find that repairing and restoring the house makes a world of difference. Doing routine maintenance like painting the outside of the house, replanting (or planting) a yard and landscaping can change the aesthetics of the house as well as the overall feelings people might have towards the property. The interior could also use a fresh coat of paint; use this time to create your dream home with the right color schemes, accent walls, new curtains, and more! You can also replace any insulation, windows, or other siding that may be worn out or need replacing.

Hire professional cleaners will also make restoring the house easier. Whatever you need to do in order to feel better about living in a house with a dark past is completely fine and up to you.

Buying a home with a dark past is the same process as buying a brand new home. Ask your realtor and the seller if there have been any criminal activities, violent crimes or other unfortunate events that have occurred on the property and use your best judgement.

Immobilienmakler Heidelberg

Makler Heidelberg

Buying Real Estate in Down Market

When you plan to buy a home in a down market condition, it is very essential that you know all the things that will help you earn great deals from it. When there is a sluggish real estate market, the prices of homes decline. This is the most appropriate time to purchase a property as you will be able to buy it at a cheap price.

It is absolutely essential that you do your homework before buying a property. Know an area well before making any move. Learn about the price range of properties in that area. It will help you in bargaining with the seller and you can get a house within your price range.

You should remember that you are not the only buyer hunting for a particular property. To be sure that you do not have a competitor, get your mortgage pre-approved so that the seller knows that you are financially sound. He will be more interested in selling his property to you.

You should always hire a professional real estate inspector to be sure that everything in the house is in a proper state. It may so happen that the roof or the doors and windows are cracked and that might cost you heavily in the long run. So check everything properly before purchasing a property.

Always take assistance from a professional real estate attorney who knows well the real property law associated with any real estate deal. He can do all the paperwork on your behalf for real estate laws are very difficult for a normal person to understand. It is also advisable to look out for motivated sellers.

A motivated seller will always be motivated to sell his home and that too at a lower price. The motivated sellers have some compelling reasons behind selling a home. It will be helpful for you in making a great negotiation with the seller. By purchasing the property from a motivated seller, you are also helping him at the same time.

While purchasing a property during a down real estate market condition, you need to take care of all these things to crack big deals. Real estate industry is a place where you can make really good investments provided you have ample knowledge and expertise.

You can also take advice from real estate experts as to how they were able to earn profits when the market conditions declined.

Immobilienmakler Heidelberg

Makler Heidelberg

Discover the Top 15 Secrets of Successful Commercial Property Ownership!

1.) What’s Your Type?

There are many different types of commercial properties that you can purchase including:

o Office

o Retail Space

o Warehouse Facility

o Restaurant

o Commercial Condo

o Strip Mall

The first step is clearly defining what type of property you want to purchase and how you want to use it. The following information will help you maximize your investment dollars to get the best possible deal when purchasing your property.

2. Build Equity With Your Investment

Equity is Money

Building equity is the primary if not the ultimate reason to buy instead of rent a commercial property. Let’s face it. It’s money in the bank. In fact, it’s better than money in the bank because you can’t get the same kind of return on your money when it’s sitting in the bank as opposed to when you’re building equity. Moreover, if you choose the right financing for your commercial real estate purchase, you can not only build equity through ownership, but you can also leverage your capital saving in order to grow your business, hire additional employees, or even purchase an additional location when the time comes.

Owning beats renting because you can sell your investment once you outgrow the space or sell the business. Even if commercial property in your area has not appreciated (which is unlikely), you can recoup your investment by renting out the space once you move out and by selling when the time is right.

If you plan on growing into your building, buy something larger than your current needs, and rent out the extra space until you need it for expansion. This will provide you with steady income that you can use to help pay your mortgage or invest in your business.



3. Calculate Your Savings And Your Potential Profit

Lower Monthly Payments

Consider buying commercial real estate as a savings for your business. Real estate costs are the third largest business expense, behind payroll and taxes. Long loan amortizations mean that your monthly payments could wind up being less than what you would pay for rent, since landlords usually charge more than their monthly loan payment. In other words, owning your own commercial property may actually be more affordable, depending on current market conditions.

Ask your lender to provide you with an analysis of the current market in your area so that you can see which scenario is best for you (renting or buying). The lender should be able to explain your options in detail with examples of monthly rental costs vs. monthly loan payments and the benefits of each.

Analyze the Rent Value

Upon finding a property that peaks your interest, find out the status of the current tenants (if it is a multi-tenant property) in terms of how much rent they are paying. Check the current market to see if the rents are undervalued, meaning below what you can get in the current market. Your realtor or lender should be able to help you figure out how much you could charge for rent and determine how much of a profit you can make each month.

Tax Advantages

There are many tax advantages to becoming an owner of a commercial property. In most cases, you can deduct part of the value of the building at tax time, as well as improvements you’ve made as depreciation, which can save you more money on your taxes. Buying the property under your business or corporation’s name is also a better tax strategy than under your personal name.

4. Do Your Research

The more you can learn about property types and options, mortgages, financing, zoning and remodeling; the better position you’ll be in to make wise decisions concerning the acquisition of a commercial property.

However, you don’t have to know everything. That’s where putting together a powerful team of professionals proficient in their areas of expertise may be your most important step. Building a team of advisors – people you can trust to steer you in the right direction is critical to your success.

Understand Current Market Conditions

Keep your eyes open for news articles pertaining to the commercial real estate market. Is it „hot“ right now? Is it a buyers‘ or sellers‘ market? What kinds of interest rates are available?

The Internet is a great place to start. Conducting a Google search for „commercial real estate market,“ for instance, will give you results that include news and resources for national trends, analytics and market research.

In addition, many realtors, lenders and lawyers across the country offer free and timely articles on their websites that shed light on current commercial real estate trends nationwide. Again, make sure you listen to both sides of the story.

Tap Expert Resources

National market research companies can give you specific information about the area where you’re preparing to locate your business. You can also find information on demographics including the median age, household income, breakdown of ethnicities, and more from censuses available from the U.S. Census Bureau.

Also contact commercial lenders or realtors for additional resources. In looking for help, it’s usually better to talk to a lender or realtor with nationwide experience and up-to-date information than a small-time operation that might not have recent data for you. If the lender/realtor hasn’t gotten updated demographics since 1996, you’ve essentially wasted your time. Also, a lender or realtor that specializes in the type of property you’re looking for will be more likely to have the specific information you need, which will save you time in research.

Study the Current Vacancy Rate

Research what the vacancy rate has been over the past few years for the area you’re taking into consideration. If there seem to be high levels of vacancies, try to find why. Is it a bad neighborhood? Talk to store owners in the immediate area and find out how long they’ve been doing business there. Ask if they have any concerns that you as a potential property owner should know about the area.

Research Commercial Realtors

It’s important to research commercial realtors that specialize in the type of space you’re looking for. Grill the realtor you are considering selecting on the entire purchase process so you know what to expect. Ask how long the process usually takes so that there are no surprises. Check their references and their track record (more on finding a Commercial Realtor in #5).

Examine Experienced Commercial Lenders

Choosing a lender and financing program is just as important as choosing the property. Again, find out the entire process of financing, as well as your different options. Don’t assume that just because you’ve had a relationship with your bank for years that using their financing is the best choice.

Banks don’t always offer the lowest rate for commercial loans, and sometimes have a far longer turnaround than non-bank lenders. Some banks require that you transfer your accounts to them in order to qualify for a loan. Be aware of any stipulations when seeking a bank for a commercial loan.

5. Choose the Right Commercial Realtor

As mentioned before, you need qualified partners to help you with the process of buying commercial property. Start with a terrific commercial realtor.

Some commercial realtors work exclusively with individuals interested in investment properties. Others work with owners/users of commercial real estate, and among those some specialize in property management, which can be an added value to you.

Who Do You Know?

Referrals from trusted sources are usually the best way to find a good commercial realtor.

Ask Questions

Set up a meeting with more than one potential commercial realtor. Find out as much as you can about their professional background, education, and experience with your type of property. You can ask for a list of recent transactions to give you an idea of what they deal with on a regular basis, and how many properties they’ve actually sold in the last year or two. And most importantly, ask for client references (testimonials)! Real client feedback is the most effective measure for potential success.

The Right Match

Make sure you choose a realtor that understands your specific needs. If you are a small business, you don’t want to work with a realtor that normally handles multi-million dollar deals. Your project may become less of a priority when that particular realtor gets a bigger commission to worry about.

6. Consider Your Time Frame

If the reason you are looking for commercial property is because your lease is ending, think twice before jumping into a decision you might regret. Finding just the right space, securing financing and going through the process of obtaining a commercial property can take months. If you don’t have that kind of time, you may need to rent month-to-month for now.

Take Your Time

While you may be in a hurry to move into a space, take your time. Buying any kind of property is a major decision, and buying commercial property is even more important for the development and growth of your business. Selecting a property in the wrong area, or a space that doesn’t allow you to grow can hinder your company and even cause it to fail, so plan carefully.

If the realtor or lender gives you an estimate of three months from start to close, plan for longer – just in case. Keep in mind there are many people involved in the process of buying property, from the seller, realtor, lender, appraiser, surveyor, paperwork approvers, secretaries, and more and this process can often take slightly longer.

7. Location, Location, Location

One of the most important factors in considering commercial property is location. If a property is located on a busy corner that is difficult to get to, your business may not do well (in fact, that’s probably why the property is for sale). If you want to operate a dog kennel and the property you’re considering is in a residential area, not only will your business disturb the residents, the zoning laws may prevent you from operating there.

Foot Traffic

For a retail business, look for areas with high foot traffic that will give you the exposure and increased walk-ins you need to be successful.

If you are looking for an industrial or manufacturing facility, then you can stay out of the retail limelight and buy something in a warehouse district. These areas are usually cheaper than retail space.

Easy Access

Make sure your location has easy access from the road. Look to see if the site is at a difficult intersection. Is there construction going on that seems like it won’t be ending any time soon? On the other hand, what’s the potential once the construction is completed?

Check out the Competition

If you want to open a bistro in a neighborhood that has several bistros, you might want to try somewhere else with less competition. However, a healthy population of restaurants usually means a healthy population of customers.

Know Your Customer

Find out the demographics of the area you’re interested in. If you want to move your sports apparel shop to a new location, you’ll probably want an area with a high percentage of youth and active adults. An urban area with a lot of pedestrian traffic might be better for this kind of retail shop than a suburban area in a retirement community.

8. Free Parking

We’ve all spent time driving around and around looking for a parking spot. It can be very frustrating, especially when you’re running late. Whenever possible, you want a location that has ample parking for your visitors.

If you have a retail store, restaurant, or other high-traffic business, estimate how many customers or visitors you’re likely to have at any given time and consider rejecting any properties that have fewer available parking spaces than your estimates. Again, use your best judgment and consult your realtor.

Avoid Headaches

Also pay attention to how your parking is situated. If it’s located just off a major road, it may provide a headache for people trying to back out of the parking space, and may even cause accidents. When visiting the property, see how well you can maneuver the parking. If it’s a hassle for you, it will be doubly so for a potential customer or visitor.

9. Get in the Zone

Before you begin the negotiation process for a commercial property, make sure to investigate the zoning laws, as well as what types of businesses you are able operate there. There are zoning laws about the type of business that can be conducted in certain spaces.

For instance, some spaces do not permit food and beverage to be served, or may have restrictions on how late a business can operate. The typical zoning districts in most cities include: residential, commercial, industrial and mixed-use.

Don’t Assume

Zoning can be tricky, so do your due diligence on this topic. Don’t assume that just because the previous tenant of the space had a restaurant that the property you’re looking at is necessarily zoned for food and beverage. Many businesses slide under the radar for months or years while violating zoning laws. Making assumptions can cost you big time and big money when it comes to zoning.

Regulations

Zoning laws can regulate not only the type of business that can operate, but also parking, signs, water and air quality, waste management, noise, appearance of building and more. Find out any and all regulations regarding the property in advance.

Visit your local library or zoning office to get information on all the zoning laws, rules and regulations that apply to the property you’re considering for purchase. Talk to people at the zoning office if you have concerns or questions prior to making the investment. Ask your realtor to double-check your efforts to ensure you’ve covered all your bases.

10. Inspection

Normally, if you are considering buying a home, you have an inspector look at the structure, pipes, electrical system, etc. A commercial property requires even more of a stringent inspection, not only to meet your needs, but also the requirements of the local government.

Before purchasing commercial property, hire professionals to thoroughly examine the electrical system, including the sprinkler and security system, as well as the plumbing, phone, and Internet systems. Since you will have already done your homework on zoning and regulations, you will be aware of the building codes. With the results from your various inspections you can get an estimate of how much work, if any, will need to be invested in order to get the building „up to code.“

A Good Foundation

Hire an architect or engineer to examine the foundation and structure, especially if you have frequent natural disasters such as earthquakes or hurricanes in your area of the country.

Communication

If you are looking at an older building, there may be quite an investment up front to either meet city standards or meet your own standards. Don’t overlook the importance of a high-tech phone and Internet system, especially if you have a lot of employees. If there is not already a T1 or fiber optic network in place, build this cost into your purchase, as it will save you money and headaches in the long term over more traditional (and older) phone and Internet systems.

Make sure to hire an expert to tell you if the changes you need are possible and within your budget. With most commercial real estate loans, you can include these remodeling costs in your financing. Again, make sure to ask.

11. Map Out Your Plan

As a business owner, you understand the importance of carefully planning every move. Buying a property requires no less preparation. Before you begin looking for a building, sit down with your finances and figure out how much of a mortgage you can afford to take on.

Create a Budget

When calculating your budget for buying property, don’t leave out taxes, insurance premiums, and repair and maintenance, as well as costs involved in customizing the space to meet your needs. Failing to create a budget for these often overlooked expenses will quickly put you in the hole with your new property. If you need help creating this budget, ask your realtor or your commercial lender for advice.

Room to Grow

To determine the amount of mortgage you can afford, assess your income and expenses. Your mortgage and property expenses should leave you enough room to operate your business without cutting into your normal expenses.

Sometimes it is necessary to take a cut in profit in order to purchase the kind of space you need to grow. Think of it this way: buying a larger space will allow your company to stretch its wings, which will result in more profits down the road. It’s a risk you sometimes need to be willing to take if you want to grow. Remember, if you buy more space than your company needs immediately, you can acquire tenants who will provide rental income that can significantly offset your monthly mortgage obligation.

Planning Ahead

It’s almost always a good idea to buy slightly more room than you currently need. You can lease out the additional space until you need it. If this is your plan, map out how this will bring in income to help subsidize your mortgage. Remember, however, that you may have periods when some of the space is unoccupied, so don’t rely on the rent coming in to cover your mortgage every time. Make sure you can cover the mortgage on your own.

Have an Exit Strategy

So, how does it all end? Hopefully with big dollar signs. After all, that’s why you’re investing, isn’t it? To eventually cash in on your investment. Therefore, you need to have an exit strategy.

You might choose to hold onto your commercial property through retirement, as real estate is a great asset that can provide you with a steady passive income stream: a lucrative retirement strategy.



12. Before You Sign on the Dotted Line

Having a carefully drafted contract is key in your commercial real estate deal. You are required by law to have a written sales contract, and it is to your advantage to have one with each detail of the transaction documented.

Also, make sure to leave ample time for due diligence and closing, especially if any construction is involved!

Details

Despite the stories of real estate contracts being thicker than phone books, all you really need is a contract that lays out the important elements of your agreements. First, it needs to describe the property and the purchase price, as well as whether the price is due at closing or in installments.

Equipment, etc.

The contract should include any equipment, machinery, or personal property that is included in the purchase price. It should list any contingencies that must be met prior to completing the purchase. A common example of a contingency is whether you are able to obtain a loan to finance the purchase.

Don’t Forget…

The contract should cover how the property taxes and utility bills will be pro-rated between you and the seller, as well as what type of title insurance you must provide. The date for closing and delivery of possession should be in the document, as well as what legal recourse either the buyer or seller has in the event that the other party defaults on the agreement.

And Always…

Once the contract has been drafted, have a lawyer review it prior to signing it. A lawyer may be able to help you negotiate a better deal than what is originally presented.

Unfortunately, not all property sellers are honest, and some will try to hide their true purpose in technical legalese within a contract. Having a trusted lawyer and commercial realtor review your contract will keep you safe in your transaction.

13. Choose a Lender with Care

There are many types of lenders available to assist you with your commercial real estate financing. But keep in mind: not all are created equal. Do your homework in finding a lender that meets your specific needs.

It’s important to find a firm that can give you broad access to capital, understand your priorities, offer you the best deal on your loan and complete the process in a timely manner.

Types of Lenders

There are three basic categories of lenders: direct lenders, indirect lenders and hybrid lenders. Direct lenders lend their own funds. Some examples of direct lenders include commercial real estate lending institutions, banks, and private lenders. Indirect lenders place funds on behalf of others, and include mortgage brokers and mortgage bankers, as well as financial intermediaries. Hybrid lenders both lend their own funds and lend on behalf of others, and include certain investment banks, investment advisors and credit companies.

Banks usually generalize in services, and offer a wide array of products. While this may sound good, think about it for a moment. Would you rather have a lender that knows a little about many financing options, or a lot about three or four products designed specifically for you?

Lending institutions are more specific in nature, and are experts in the products they offer. Banks are more traditional in their financing products, while lending institutions are more entrepreneurial and creative.

Banks often require that you move all of your financial relationships under their umbrella, including deposits, LOCs, etc., while non-bank lenders only work with your real estate loan.

The U.S. Small Business Administration (SBA) is a great resource for small companies looking to expand their business or purchase real estate for commercial use. The SBA offers tools that can help you plan your next move, as well as loan programs for a variety of business purposes. The SBA itself does not offer loans, but works through banks and non-bank lenders to provide small businesses with loan programs that meet their needs.

Get Started Early

It is important to choose your lender early in the process so that you can maximize leverage and get a lower cost of funds. Your lender will ask for certain forms in order to determine your eligibility for financing, as well as to figure out what kind of deal you can negotiate.

You will need to provide your income and expense statement, balance sheet and personal financial statements from all prospective owners of the property. If you don’t have them written already, you will need to create profiles of the management team, including information on education and employment background, as well as experience relevant to your business. Other documents needed include a property appraisal, contract of sale, and plans for the use of the property. Providing these documents early can help streamline the process. Again, your realtor and lender will help you through the process.

14. Know Your Financing Options

While you are in the „shopping“ phase of looking for a commercial property to purchase, you should begin to research your financing options. There are many kinds of commercial financing options available, so it is important that you find the one that best suits your needs. It’s also very important to know how much you’re qualified to borrow. This will help you and your real estate broker find the right type of property for you faster.

No matter what type of loan you wind up getting, negotiating the loan will be based on the same basic factors: anticipated use of the property, expected returns from the property or business conducted there, geography, type and size of real estate, perceived risk to lender and market conditions. There is no one rate applicable to all commercial financing. The rate you receive will be based on your specific situation.

If interest rates are low, securing a low fixed rate will mean you pay less interest over the entire mortgage. A variable rate, which is considered by some to be more risky, can give you a lower payment for a period (before it increases), which will let you use the money saved for other investments.

In weighing your financing choices, remember that some debt is good. Don’t assume you should take the loan with the highest down payment requirement so you can „pay off your debt faster“. Putting down more money means you have less to invest in your business.

Term Loans

Based on how much money you need to borrow, there are different financing options available. One option is a term loan. Term loans can be used for a variety of purposes, including financing permanent working capital, new equipment, refinancing, expansion, acquisitions and, of course, buildings.

There are loans specifically designed for commercial real estate or equipment. Banks typically lend up to 80% of the value of the real estate to be financed, and the loans must be repaid in 15 to 20 years. If you are able to come up with the remaining 20% on the cost of the property (and don’t have anywhere better to invest the money), this is an option to consider.

Up Up and Away

Beware of balloon payments. While paying a very low monthly amount at the start sounds great, you often end up spending additional money to refinance your commercial mortgage as lenders reset interest rates or reexamine you and your business over the life of the loan.

Credit Line

If you want a more flexible loan, you may have the option of a credit line that can provide you with cash on an as-needed basis, up to a cap amount. Credit lines almost always have a variable rate, and have interest-only payments for the first one to three years.

Equity Financing/Joint Ventures

Equity financing involves joint ventures with investors that have the capital you need. Usually, the investor will receive a percentage of your business‘ profit in exchange for the capital you need to purchase the building or stock in the company if it is public.

Some investors will take a back seat to your executive decisions, while others will want a say in the operation of your company. Joint ventures are not for everyone, so keep in mind all of these factors when considering one.

The SBA 7(a) Loan Program

The SBA has a variety of financing products that are ideal for small businesses. The most commonly used SBA loan is the 7(a) Loan Program. The loan is provided through banks or non-bank lending institutions.

In order to be eligible for a 7(a) loan, your business must be for profit, and you cannot purchase real estate for investment purposes. There are many other guidelines to qualify for a 7(a) loan. The maximum amount a business can borrow from a 7(a) loan is $2 million. Furthermore, all SBA 7(a) loans have prime-based floating interest rates. This type of interest rate structure can leave you vulnerable to monthly/quarterly interest rate swings that can have a significant impact on your monthly mortgage payment.

Now you can see why it is so important to find a commercial lender who can help you digest all of this information and take the time to explain your options.

15. The Best Kept Financing Secret

One of the main reasons small businesses choose to rent instead of purchase their own commercial real estate property is the perception that they can’t afford the down payment. Many of them are not aware that SBA-guaranteed loans are available to qualifying applicants and can provide up to 90 percent loan to cost financing.

In fact, the 504 loan program was designed to assist small businesses in building or purchasing properties while spurring business growth in the local economy.

Only 10% Down

While in some parts of the country, use of the 504 loan program is widespread, there are other areas, such as those east of the Rocky Mountains, where this program isn’t getting the attention it deserves. If you are unable to put down much of the loan cost, the 504 is worth looking at: it only requires 10% – and there are no closing costs in addition to the 10% down! (Please note that there are certain basic criteria you will need to have to qualify for the 10% down program. A good lender work with you to do his or her best to help you qualify for this benefit.)

The other 90% of the financing comes from two places: up to 50% of the total cost (land, building, renovations, and soft costs) is paid for by a senior lien from a private-sector lender, and up to 40% comes from a junior lien from a Certified Development Company (this portion is backed by a 100 percent SBA-guaranteed debenture).

Smaller Payments

Since most banks and loan programs require a minimum of 20-30% of the property cost, and do not fold in soft costs and closing fees, 504 loans are a great way to get the best of everything: by paying only 10% down, you retain more capital and are able to make smaller payments over the life of your mortgage.

Because you have two separate loans with the 504, you end up getting a blended rate that is below market. The first loan is either fixed or variable, and is at or slightly higher than conventional financing rates. The second mortgage (the 40% loan) is considerably lower than market interest rates, and is fixed for the life of the loan. Having a lower interest rate lets your company retain more capital.

504 loans can close in 30 days or less, saving you time, and helping you get into your new property sooner. Another advantage is that there are usually fewer „hoops“ to jump through to get approved, as long as you are dealing with a lender who specializes in this type of loan as opposed to one who might process one or two a year. The specialist knows this loan inside and out and can streamline the process, as well as make sure you are receiving all the benefits.

Immobilienmakler Heidelberg

Makler Heidelberg

Best Ways to Sell Your House During COVID-19

With the COVID-19 pandemic slowing down the real estate market, selling a house has become a herculean task for many homeowners. Not to mention, in today’s economy, some homes are remaining on the market for months. However, even though selling your home during COVID-19 can be tricky, it isn’t impossible. With a little know-how, you will be able to sell your home quickly.

Furthermore, selling a house during COVID-19 may sound tough initially, but it is not that difficult to do. Listed below are four tips to sell your home during COVID-19.

1. Advertise properly- While technology and the Internet have made it easy to list real estate for sale online, you need to pack a greater punch to get buyers to take notice of your property if you want to sell your home during COVID-19. From putting up a for sale sign and advertising your home on as many of the major property websites as possible to advertising your home for sale on social media, make sure you leave no stones unturned in terms of advertising your home for sale. Furthermore, you should also distribute flyers and even put an advertisement in the local newspaper. This will allow you to reach out to more people and so, there will be chances of more offers.

2. Virtual tours- Virtual tours are very effective when it comes to marketing and selling your home during COVID-19. Furthermore, a good virtual tour will grab a home buyer by hand and lead them from room to room, whether it is 360 or a video.

3. Be an aggressive home seller- Let’s face it, waiting for the home buyer to come by will not get you anywhere. You need to go all out to spread the word. From putting up a for sale sign to repainting and remodeling your home, do everything within your power to sell your home fast during COVID-19.

4. Declutter and keep your home clean- Nothing can turn off home buyers faster than a home in disarray. Furthermore, whether or not you are currently living there, make sure you take the time to declutter, deep-clean and spruce up. In addition, when cleaning your home, make sure you also remove photographs and other personal information that may be visible, as you want to make buyers feel comfortable when viewing your home.

While selling a home during COVID-19 can be tricky, if you spend some time and effort in creating that perfect atmosphere for your house and keep in mind the above-mentioned tips and tricks, you will be able to sell your home in no time.

Immobilienmakler Heidelberg

Makler Heidelberg

Benefits of Selling to a Property Buying Company

Selling your home to a cash for property company can be advantageous for many reasons, and doing so doesn’t necessarily mean that you have to pack up and move out either. Nowadays, there are several property buying companies who are willing to buy your home from you and often times will allow you to rent the house from them after they take ownership.

One of the advantages of selling your home to a property buying company that you can get it done quickly. In today’s market, homeowners sometimes have to several months or even years to be able to sell their homes. If you’re able to sell your home quickly, you won’t have to worry about missing out on your dream home. Not to mention that any offer you make to a seller will be taken more seriously as they know you have the funds – you may even be able to save some money too. The process of selling your home to a property buying company usually takes less than two weeks. Plus, there are no real estate commissions to pay since no agent is required and the property buying company pays for all the legal fees involved.

Many of us often get into bad credit card or other debt and many times take out loans that use your homes as collateral, so falling behind on payments puts you at risk of losing your home. Selling your property for cash quickly can also help you avoid foreclosure and get you out of any other debts you have.

Another reason to sell your home to a property buying company is if you have to sell quickly due to divorce or separation in a relationship. Selling to a property buying company ensures that you will receive a lump sum of cash for you property in as little as two weeks. After the sale, you can either move to another location or rent the home from the property buying company, which should certainly be more affordable than a mortgage.

If you have to move because of a job relocation, quick cash for your property can be a huge relief. Doing so means you don’t have to worry about carrying a second mortgage or managing a bridge loan. You also wouldn’t have to worry about trying to keep your first property maintained while waiting for it to sell.

There are several reasons why it could be beneficial to sell your property to a property buying company. Quick cash for your home releases the equity in your home allowing you to settle your debt and start fresh. It’s up to you, though, whether to find another residence or to remain in the home paying a lower rental rate instead of a mortgage.

Immobilienmakler Heidelberg

Makler Heidelberg

What Should Your Real Estate Agent STAND For?

Although, there are many licensed, real estate agents, etc, the reality is, all agents are not created, or perform, equally! Since, for most Americans, the value of their house, represents their single – biggest, financial asset, wouldn’t it make sense, to carefully, select, and/ or, choose, the individual, who might best represent their interests, in the best possible way? Besides, the many skills, expertise, and experiences, a quality agent, should possess, and needs, to exceed his client’s expectations, he must have the quality of character, and principles, which differentiate, him, not merely by his rhetoric, and/ or, promises, but, rather, by what he truly, STANDS for? With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means and represents, and why it’s important to you.

1. Service; solutions; strength; stronger; selling/ sales: Your agent must prioritize, offering the finest service, to you, based on your personal needs, priorities, and situation! He must have the strength of character, to provide viable, quality solutions! This must make the selling potential of your home, stronger, and more meaningful, and bring about a sale, which produces the best combination, of, price, process, less stress, and bringing about the best deal, available!

2. Time – tested; timely; trends; training; teamwork: An essential responsibility of the individual, you choose, and hire, should be, training you, to join, with him, with the teamwork, which places you in the best position, possible! He must know, and use the time – tested, ideas, etc, and proceed, in a well – considered, timely manner! Recognizing relevant trends, and using the most applicable ones, differentiates an average agent, from the rest – of – the – pack!

3. Attitude; aptitude; attention; articulate; actions; action plan: It takes a positive, can – do, attitude, combined with a well – developed, relevant aptitude, to make the finest representation! Both agent and client, must pay keen attention, and be prepared, by agreeing upon, and using the best possible, action plan, and taking timely, well – considered, actions!

4. Needs; nuances; niche: Agents must know, recognize, care about, and address the needs, and perceptions of their clients! They must identify the property’s niche market, and proceed, with the nuances, which might best fit, the specific set of circumstances, etc.

5. Delve deeply; discover; determine; deliver; dollars: You are generally, best represented, by someone, who delves deeply, in order to discover, and determine, the best course of action! Instead of over – promising, hire someone who will deliver, and bring you, the dollars, and other terms, you seek!

Know what you want your agent to STAND for, and hire the right person, to best serve and represent you! Protect your investment, reduce stresses, and choose wisely!

Immobilienmakler Heidelberg

Makler Heidelberg

Some Pros and Cons With Bull Terrier Puppies

Overall, I think bull terriers are an exceptionally good breed – they are smart and loyal and friendly – still, it is always a good idea to consider every aspect of a breed when considering getting a dog. Some dogs are good choices for small living spaces while others are definitely not. Some dogs are very docile and mellow while others are just buzzing with energy and the need to be active. All of these things and more need to be considered when thinking about getting a dog. Here are some pros and cons to a fairly popular breed, the English Bull Terrier.

On the plus side, bull terrier puppies are loyal and friendly with people. That makes them a good choice for a busy, more public lifestyle. The pups also tend to be extremely good with children so they are a good choice for families with small children. These little dogs are also very intelligent. This intelligence, coupled with their love of people, make them very easy to train, thus making them a good choice for a person new to dog ownership. Other characteristics that I consider very positive are that they are short-haired and do not shed very much – this makes for a dog who is easy to groom and take care of. And, let’s face it, not everyone who wants a dog has the time to brush it three or four times a day as is required for longer haired dogs.

On the other hand, puppies of this breed do have some potential challenges. These are not things that make it a „bad breed“, I don’t believe any animal is bad. These are just things you need to keep in mind and prepare for if you choose a bull terrier for sale for your next dog.

These puppies do not tolerate isolation very well. Being left alone too long can lead them to destroy things by chewing. They are also too short-haired to tolerate too much cold weather so, if you live in a cold climate with a bull terrier, you probably want to keep doggie sweaters on hand for it. Probably the biggest concerns with this breed are the fact that they can be chasers, meaning that they might chase and accidentally hurt smaller critters that look like prey to them. They might also be runners, meaning that they may chase after something that catches their scent and they might show affection by nibbling on your hands. Not to worry though, it is very easy to teach them good manners and appropriate behavior. Besides, every single dog breed in the world has pros and cons, bull terriers are no exception.

Immobilienmakler Heidelberg

Makler Heidelberg

Short Sales vs Foreclosure – What Are The Effects On Your Credit?

Homeowners looking to stop foreclosure are faced with a number of options, one of which is doing a short sale. Some people, depending on their situation, may allow a property to go into foreclosure instead of attempting a short sale. One reason is they don’t want to keep the home in the first place. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. The primary consideration above all is the affect both can have on your credit score.

The Basics Of A Short Sale

The concept of a short sale is fairly simple. A short sale occurs when the sale proceeds of a house fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. A few words of warning are in order. Not every lender will negotiate a short sale. If for example your payments are current, yet you foresee imminent cash flow problems arising that will affect your ability to make your monthly mortgage payment. Lenders have no interest in negotiation unless your payments are several months late. Another consideration is you may be held liable for taxes on the difference between the sale amount and the original loan amount. Short sales require nerves of steel.

The Credit Affects

Foreclosure

Without a doubt sellers will incur more damage on their credit report by going through foreclosure. Typically your credit score will take plunge between 200 to 300 points.

Short Sale

Short sales have a far less damaging affect on a seller’s credit report. Credit scores typically lose between 80 to 100 points. What happens to your credit down the road? It is takes around three years after a foreclosure before a lender will offer a sensible interest rate, whereas for a person who went through a short sale typically waits around 18 months to buy another home at a good interest rate.

Salvaging your credit should always be the primary concern when making the decision between a short sale and stopping foreclosure. The savings in interest payments alone should be convincing enough for most people, not to mention your buying power in the near and distant future.

Immobilienmakler Heidelberg

Makler Heidelberg

Foreclosure Statistics for the State of Maryland

Across the country, there has generally been improvement in the level of foreclosures. Of course, this varies widely on a state by state basis. In fact, most people are surprised to learn which state has the highest foreclosure rate. Currently it is Maryland which has the highest foreclosure rate in the entire country, which would not be the average first guess.

Most people associate the highest foreclosure rates with states such as Florida and Nevada, or perhaps New Jersey. All three are in the top five, along with Delaware, but it’s Maryland that outpaces them all in the wrong direction.

All of the statistics here are from RealtyTrac, and reflect the latest available data for April 2016. According to these figures, the rate in Maryland is one in every 535 homes is in foreclosure. Nationally, the figure is one in every 1,212 homes, so Maryland’s rate is more than double the countrywide rate,.19% versus.08%.

As mentioned, Maryland is followed by Delaware, with one in every 579 homes, New Jersey, with one in every 662 homes, Nevada, with one in every 702 homes, and Florida, with one in every 727 homes.

Within Maryland, there’s of course a wide disparity in foreclosure rates for different cities and counties. The five highest county rates within the state are Baltimore City, with one in every 287 homes, Prince George’s County, with one in every 357 homes, Charles County, with one in every 395 homes, Washington County, with one in every 457 homes, and Calvert County, with one in every 459 homes.

Meanwhile, Montgomery County has only in every 1,359 homes in foreclosure. Not only is that less than half the rate of Maryland as a whole, but it’s also better than the national rate. Still, digging into the city statistics, there are specific towns within Montgomery County that have far worse foreclosure rates, such as Barnesville, with one in every 89 homes in foreclosure, or Garrett Park with one in every 324 homes. That same level in disparity will be seen in other counties as well.

For homeowners who are facing foreclosure, there are many different potential courses of action to take. One may be to file bankruptcy before the foreclosure auction is completed. In this case, it may be possible to stop the foreclosure, and even to keep the home. Be sure to consult with an experienced bankruptcy and foreclosure attorney in your local area who will be able to instruct you on what’s possible, and provide you with the assistance you need.

Immobilienmakler Heidelberg

Makler Heidelberg

5 Keys To Effectively Selling A Home

As a Real Estate Licensed Salesperson, in the State of New York, for over a decade, I realize, it is a professional’s duty and responsibility, to effectively, professionally, represent clients and customers, either buying or selling. Many of our clients make the decision, for any of a multitude of personal reasons, to sell their homes, and their desire, is nearly always, to receive/ get, the highest possible price (related to existing market conditions), in the shortest, reasonable period of time, with the least amount of hassle, and/ or aggravation! To do so, professionally, and properly, there is a need, to both understand, and utilize, the 5 keys, to effectively, selling a home.

1. Strategy: The finest representation, requires a clear – cut, focused, meaningful, relevant strategy, based on a number of relevant factors, etc. The process must begin, with a discussion between agent and client, and agreeing to proceeding, on the same page, focused on the best way, to market a specific property, in order to achieve one’s needs, and objectives.

2. Pricing: Creating the best, initial listing price, means doing so, not based on emotion, and/ or pie – in – the – sky, wishing, hoping, greed, or unrealistic expectations. Quality agents will discuss pricing strategies, and which, might make the most sense, in the specific market, local area, and time. A meaningful rule – of – thumb, should be, to price a house, right, from the start!

3. Marketing; same page: Successfully marketing and selling a specific home, requires agent and client, to be on the same page, and commit to their agreed – upon, strategy. Homeowners must do all they can, to make their houses, readily available, so the most, qualified, potential buyers, are able to view it. When you get many views, you optimize your marketing efforts and possibilities! Homeowners should interview potential agents, and have a thorough discussion on how, a particular agent, might market the house, and the reasons!

4. Competitive; comparables: Remember, houses are not sold in a vacuum! There are generally several houses, for sale, in your area, and, you will, get your best possible results, when you are competitive, and make your home, stand – out, from the pack, in a positive way! Don’t guess about listing price, but examine and consider comparable properties, so you position your specific home, where, you’ll get the best results!

5. Strong negotiator: As the song goes, You’ve got to know when to hold them, know when to fold them, so, homeowners, must seek agents, who are, truly, strong negotiators. You need someone, who will effectively, fight, for your best interests. This individual must be ready, willing and able, to suggest to you, when you should accept a particular issue, and when to hold – out!

The better one recognizes and accepts, these 5 keys, the more capable he becomes of having his home, effectively marketed, and sold! A homeowner’s best interests are served, when he, and his chosen agent, consistently, persistently use a quality approach!

Immobilienmakler Heidelberg

Makler Heidelberg