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For Sale By Owner (FSBO) - Why to Use a Realtor Anyway

By: Gerald Meyer

For Sale By Owner (FSBO) is just as it sounds, a homeowner trying to sell their home without the assistance of a Realtor.

Can you do this, sure!

Typically, are FSBOs successful? No.

About 80% of all FSBO’s end up listing their homes with a Professional Realtor.

Here’s why:

1. I do not have the time to make appointments during the day or during normal business hours.
2. How do I know if these potential buyers can qualify for my home?
3. I am not aware of the legal documentation that should accompany a contract.
4. How do you pick a Title Company, and who is suppose to pay their fees?
5. What if the Buyer backs out of the contract?
6. Can I sell my home for market price without using a Realtor?
7. What coverage do I have if the Buyer sues me a year after closing?
8. Is it worth having a home inspection before putting the house on the market?
9. Who does the home warranty really protect?
10. Will I really be saving the real estate commission if I try to sell myself?

These are some of the many questions that homeowners have to ask themselves before embarking on this endeavor without a professional.

What some homeowners don’t realize is that most Realtors do care. This is our livelihood. We want to sell your home for the highest possible price; our commission is based on sales price.

So when we say the house is overpriced, it is!

Our goal is to have a smooth transaction, and you be happy with the outcome so the next time to have to buy or sell, you think of us.

Still, anyone can put a sign in the yard and try to sell their home, and some may actually get it sold in a reasonable amount of time. But as with any profession, if you decide to take on the role yourself, you are opening yourself up to potential risks.

Licensed Realtors are just as such, a licensed professional who is capable of guiding you thru the process and assessing the transaction with the least amount of risk possible.

We help get your home sold in the least amount of time, for the highest possible price. We ensure that the buyers are qualified to purchase the home and walk you thru the closing process step by step.

Some FSBO’s think that since they have sold houses before in other states, that it will be a walk in the park anywhere. Not so. For example, Texas is one of the most demanding states when it comes to selling real estate. We as agents, are required by law to have all of our ducks in a row before even placing the house on the market. Here’s a few things we’re required to do:

1. Checking the mortgage balance to see if it the seller is even in a position to sell at the current market.
2. Verifying ownership.
3. Does the property have clear Title.
4. It this a saleable property, what work needs to be completed prior to listing.
5. What is the current market price to allow a quick sale.

In closing, just know that there is a Realtor out there for each situation. From leases to commercial property, we are licensed to assist with all your real estate needs.

Author Resource: Leanna Meyer is with Re/Max Cross Country and can help you find Flower Mound, Lewisville, and Dallas Texas Real Estate.

Article From RealEstateArticles4U.com

Technorati Tags: For Sale by Owner, FSBO, Realtors

Mortgage Questions to Ask Your Lender

By: Gerald Meyer

Buying and financing a home today can be overwhelming.

Here are some questions to ask your lender so that you can make informed decisions.

• Are both fixed-rate and adjustable mortgage loans available? What is the interest rate?
• How long can I “lock-in” the financing at the current interest rate?
• Is a float down lock available in case rates drop after I have locked in?
• What are the other fees a lender may charge me in conjunction with my loan?
• Are funds for a second mortgage available?

On Adjustable Rate Loans:

• How often will the interest rate be adjusted?
• Is there a maximum limit on each rate change?
• How often will the monthly payment be adjusted?
• Is there a ceiling on payment adjustments?
• Can the term of the loan be extended?
• What is the maximum rate that can be charged over the life of the loan?
• Is there any potential for negative amortization?
• Is there a pre-payment penalty clause?
• This involves extra charges for paying off the loan before maturity. About 80% of all loans in the United States are paid off early.
• What is the “grace” period? How late can a monthly payment be made before a late charge is assessed?
• What will happen if a payment is missed?
• If you sell your house, will the new buyer (if he/she qualifies) be able to assume your mortgage at the same interest rate?
• Do you have to pay “points” to get your new mortgage? Usually lenders charge points for the cost of giving you a mortgage loan. A “point” is 1% of the loan.
• Will the lender require mortgage insurance?
• Is the loan serviced locally or is the servicing sold?

Ask for a written “Good Faith Deposit”.

Author Resource: Leanna Meyer is a Realtor with Re/Max Cross Country and can help you find Lewisville, Flower Mound, Lantana and Dallas Texas Real Estate.

Article From RealEstateArticles4U.com

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Bad Credit Does Not Mean You Are A Bad Person

By: Cornelius P Crumpacker

Credit Repair Tips

Have you recently applied for a loan only to hear the dreaded word “denied”?

This type of situation is one that can be devastating. It doesn’t mean you are irresponsible or shirk your bills. Regardless of the stigma attached to a low credit rating, there are probably logical reasons for your less than flawless credit. Still, the damage has been done. Now it’s time to fix it. If you follow some simple credit repair tips, you could be on your way to mending your credit.

#1. The first credit repair tip to remember is that you can dispute any items on your credit report. The credit bureau must prove any claims. If they cannot prove them, they must remove the items from your credit file. If they don’t respond within one month of your disputing of an item, they must remove that item from your credit report.

#2. Another credit repair tip is to contact any creditors with which you have outstanding accounts. Sometimes, being candid about your financial woes is the best option. Schedule a payment arrangement on the contingency that they update your credit report to reflect the account as being up to date. Make sure to keep your new payment arrangements.

Getting behind again is the worst thing you can do when trying to boost your credit rating.

#3. A simpler credit repair tip is one that might appeal to you if you are overwhelmed by the prospect of contacting creditors. You always have an option of having someone do the “fix-it” work for you. You can approach a credit repair company. Just be sure that you read all the fine print in any agreement. Remember that according to the Credit Repair Organization Act of 1997, credit repair companies are prohibited from accepting a dime from you until service has been rendered. Make sure that they have given you documentation of all payments, contract terms, etc. They should also be able to give you an estimated time frame of how long the reconstruction process will take.

Of course, no credit repair tip can magically erase the blemishes that taint your credit report. However, following these few simple credit repair tips can help shape your credit into that of a more desirable candidate.

Take steps toward making your loan application disappointments turn into a thing of the past. Before you know it, you may hear that magic word “approved”!

Author Resource: Cornelius P Crumpacker

More Than 100 tips To Help Repair Your Credit
http://www.usacreditinfo.com

Article From RealEstateArticles4U.com

Technorati Tags: Credit Repair