You May Be Able to Stay in Your Property After a Quick Property Sale

One of the most valuable processes that you can use with regards to avoiding repossession is to look into getting into a quick property sale. This is a type of sale that can be used to help you with getting your property sold off quickly. However what you might not know is that in many cases you may actually be able to stay in your property for a short period of time after you complete a quick property sale.

What happens here is that you can work to set up an agreement with a quick property sale provider to help with getting your home sold off in as little time as possible. After you do this you will be able to get your home sold off and be able to avoid having to deal with repossession.

However the thing about a quick property sale is that it can be something that can happen in such a flash that it can be a real challenge for you to be able to find a new property before the sale ends. As a result many quick property sale providers will work to help with allowing a person who has completed a quick sale to focus on finding a new home while being able to continue to live at one’s old home for a short amount of time.

Here is a look at how this can work for your needs. First you can sell off your property through a quick sale process. After you do this you will then be able to get your ownership of the property relieved so that you will successfully get the money needed to remove you of your debts to a creditor so that you can avoid repossession. However after this is done you will need to look into finding a new place to live.

There are many different sites around the United Kingdom that you could move to. However it can be a real challenge in some cases to get into those places in the event that you do not have too much money after handling your debts in a quick property sale. In this case the property sale provider can help out with your property search by allowing you to stay in your property without having to pay rent for a period of time.

This is beneficial to you in that with this time period you can focus on finding a new property and getting money ready to help pay for it. In addition to this the provider of the sale will benefit off of the transaction. This comes from how the provider will have more time to prepare a listing for the property that it has just bought up so that it will be able to sell off that property later on.

The amount of time that is going to be involved here is something to be aware of. In most cases a provider will allow the seller of one’s home to be able to stay in the property for a time period of up to six months. This time can vary according to the needs of the person who is selling one’s home. It will help to check on the property sale contract one is dealing with for more information for a specific need.

Overall the ability to stay in one’s property for a few months after a quick property sale is a notable benefit to see. With this you can get your home sold off, avoid repossession and be able to have time to find a new home and be able to get some money that can be used to pay that home off.

How To Buy A House 2.0

The housing market has shifted yet again, but unfortunately it has continued to shift downward. Today potential house buyers are faced with even more choices when it comes to the mechanics of home buying. It is no longer as simple as the old real estate moniker location, location, location, now house buyers need to learn an entirely new vocabulary and more importantly actually understand what all the definitions mean and how they can relate to and affect their choice of selecting a new house. Here are some of they new house buying terms or more aptly referred to as house buying 2.0.

Over the last two years alone we have a plethora of new terms. In a future post I will give an in-depth explanation to each of them, but for today lets just introduce you to them and how and why the are now part of House Buying 2.0. Here is a quick list: Foreclosure, Short Sale, deficiency, Mediation, As-is, Show me the original deed, Under water, BPO, Cash for keys and Deed in-lieu. There is no doubt that you maybe familiar with some of these terms as they are not used exclusively in just real estate, however even if they did not originate in real estate because of the current housing market we have now shoe-horned them into House Buying 2.0

Before the current housing crisis, you did not often hear the term foreclosure, if you did more than likely it was because some lowly person or company had scammed a bank or mortgage company or they were losing the property due to other unlawful activities. It was almost considered the “black plague” to have your home foreclosed on, very taboo if it were. Today, almost no has been untouched or knows at least 3 or 4 people that have had their house foreclosed. Even people with good paying jobs who can afford their homes are letting the house go into foreclosure just because the house value is so far “underwater” or they know they can buy a better house (usually with cash) at a much cheaper price then they paid for their current home.

The first reason stated (under water) simply means the house is now worth less than what the outstanding mortgage is on the house. This, if the owner stays in the house and wants to try and sell it so that the bank can re-coup at least some of its money is typically referred to as a short sale. It’s the same situation as being under water (actually you must be under water and there needs to be a few other key components in effect) in order for the bank to consider a short sale agreement.

Should they agree to a short sale, you can almost be guaranteed that there will be a deficiency. A deficiency is the difference between what is owed on the mortgage(s) and what the house will sell for. So if there is a $100,000 mortgage and the house sells for $80,000 there would be a $20,000 deficiency. In the old days, just two years ago, a bank would rarely look to the owner for the deficiency. Rather they would, simply send off a 1099 miscellaneous form to the IRS in the amount owed. This in effect was income you benefited from and the IRS would try and collect it from you. That has pretty much changed. The IRS got tried of chasing people with no money (hence that’s why the house was sold as a short sale).

One word of advice if you are going to buy a foreclosure or short sale, there are many, many mechanics that go into the process. You really do need an experienced person (consultant) or agent to help guide you through it. Just because some has a real estate license does not mean they can successfully transacted the deal for you.

A BPO, Short Sale, As-Is and Mediator are all components of a short sale. The BPO (Brokers Price Opinion) is a price opinion performed by 3 different brokers on the same house so the bank can determine the market value and thereby know what to sell or agree to sell the house for.

As-Is well that’s pretty self explanatory. You are buying the house as-is, where is and how-is. The bank (or owner) will not make any repairs or concessions on repairs or credits for repairs. As we get deeper into House Buying 2.0 the banks etc, may state this upfront, however they are increasingly giving in to buyers requests for some repairs and or credits.

Show me the original deed, Cash for keys and Deed in-lieu are all related to a foreclosure. Using these terms at the right time or in negotiations for the stopping of a foreclosure or to purchase of one are key elements to successfully dealing with the transaction, depending on which side of the coin you are in the process. Again, here it is most important to have a skilled and experienced consultant, real estate agent or attorney help you through this process.

The one thing that has dramatically changed in all of House Buying 2.0 is that now it is a much longer process not only for the seller of the house but also the buyer. So patience is now a huge part of House Buying 2.0.

What to Mention in a Commercial Property Sales Pitch

When it comes to a sales pitch in commercial property, it is essential to convey the total offering as effectively and as clearly as possible.

The sales pitch for the agent or broker will normally be for an appointment in property leasing, property sales, or property management services. It can also be part of the closing process on a contract or lease. Given that they are both quite different we will handle the listing process and sales pitch.

Other Agent Competition?

In this property market, a few real estate agents would normally be quoting on the same property listings. This then makes the sales pitch more important than ever before. You really only have one short opportunity to connect and convey the benefits of your services. You have about 3 to 5 minutes in the pitch to capture the attention of the other party. In that time it is really important to keep the conversation focused on the client and their property. Anything you want to say about your skills or relevance to the task should be left to the end or a later point in the presentation.

Essential Stages to Your Pitch

Here are some key elements or stages in the pitch process. They can be adjusted for the particular property and also the property location.

  1. Question the client or the prospect regards their expectations and factors that must be satisfied from the commercial property transaction. Without this information being provided at the very start, the sales pitch becomes far more difficult.
  2. Restate the client’s property facts and expectations in your own words and in your own way, so that the client can see your total understanding of the current situation. Normally that would include a summary of the property type, the property location, levels of improvements, timing of the decisions and required results.
  3. Market trends and outcomes with other properties should be explained so the client knows what activity is really out there.
  4. Competing properties should be identified that may have an impact on the overall outcome or process of the subject property marketing.
  5. Staff to be involved in the listing and marketing should be identified together with their relevant experience and skills for the property type.
  6. Given the benefits of the property, show the client the size of the relevant target market. Your database here will become a pitch tool so let them know just how you will tap into it and how many people you will be approaching regards the property.
  7. Marketing alternatives today are many and varied subject to the demands of the property and the target market. Have 2 or 3 marketing alternatives and budgets available for the client to consider. The client will then make their decision based on a balance of cost and effectiveness.
  8. Pricing or price ranges should be discussed so you both know that you are not on totally different ‘wavelengths’ when it comes to reaching a successful listing and sale solution.
  9. Methods of sale chosen or recommended for the property should be based on the local property market trends and the target market. The best method of sale recommended should be centered on known results from similar properties.
  10. Timing of sale will be based on seasonal factors, locational trends, and the target market that you are chasing.
  11. Key facts to be addressed by the client before the marketing commences should be made as recommendations with a suggested time frame for completion.
  12. The ideal stages to move the property listing through can be displayed on a Gantt chart. This helps the client see the way of progress and outcome.
  13. Always be prepared for the close and acceptance of your recommendations. Always have a completed listing appointment ready for the signature of the client.

These points can be dealt with in a different order and be added to as appropriate, subject to the prospective client, their property, and precinct activity.

Use your local transaction knowledge and property awareness to tell stories of relevance to the client. It is surprising just how stories of similar properties and clients will help the progress of your sales pitch.