Thinking to Sell Your House, consider these things

Selling a house is always a tough decision for an individual. There may be several reasons for every individual to sell their house such as urgent need of cash, due monthly mortgage payments, your inherit property, need to stop foreclosure, being promoted and relocation to a new place.

In such cases, you need not to run here and there, as you can have several options to sell your property. The most popular way of selling the property nowadays is to take the help of professionals who buy houses in cash. Before picking up random numbers of any of the agents, make sure to check with whom you are dealing with. As it is always a smart move to do a thorough check before signing up a deal. So make sure you are working with licenced and legitimate real estate investor.

Now if you are wondering, how they are going to help you sell your house then you must read on the illustrated benefits below:

• Fast selling - The main advantage an individual can get from such real estate agents is fast house sale . One gets to sell their property without any hassle and in an appropriate way, which is the biggest advantage. If anyone wants to desperately sell his or her abode or avoid foreclosure then this can be the best option. Moreover, one can get their required cheque or cash as per the commitment mad by these agents.
• No broker commission - As compared to the usual brokers who charge hefty commissions for the tasks, these agents buy house in cash and don’t ask for any commissions. Thus by contacting these agents one can avoid themselves from the payment of real estate brokerage commission.
• No extra expenses - Once you have decided to sell the estate there is need to repair the property, then you need not to worry about those expenses as these agents help to save you from all those extra spending.
• Experienced in their field - These professionals are highly experienced in the field and can help you sell the property on no time. With their contacts, they can get the most efficient price in the market for your property.
• Save time and money: selling property on your own would be time consuming. So, if you are running out of time and you need urgent money, then you must contact these real estate agents, as they would provide you with the money at the required time.

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Guide to do Short Sale For Home Sellers

A short sale is a process of selling real estate for less than current mortgage balance. It occurs when the owner of the property is unable to make payments to the loaner as per the loan agreement and there is no other option left for the borrower but to sell it.

Let's understand the process. The process of fast house sale starts by contacting the money lender (in most cases, a bank that has given you money for purchasing any estate) to communicate about the possibility of the short sale.

The owner needs to hire an agent who will represent you in this process. You can hire a real estate agent or a lawyer who has experience in handling such kind of matters. The professional will help to make accurate assessment regarding the value of the property. Market value of the building is usually evaluated by comparing it to the houses located in that area & properties that have recently been sold in that domain. For accurate price evaluation, agent needs to do comparative market analysis.

After completing the assessment, your agent will advertise the estate for selling. Property owner needs to issue an authority letter to the buyer that allows revelation of personal information about the building.

On receiving an offer from a potential customer, you need to take it to the bank (loaner). The lender may ask you to pen point hardship letter that contains detailed information about your financial difficulties. The main purpose of this procedure is to authorize the borrower’s situation by examining his investment accounts, bank statements, receipts and other financial records.

After examining the financial situations of the borrower, the condition of the assets and its market value, the loaner can contact with the real estate agent to obtain exact information about the price. Above all, property owner has to be patient during the whole process because it may take some time for the successful completion of the process.

After the complete process, a sales contract with selling amount of the house is sent to the bank is signed. On completion of the whole procedure, it now resides on the lender who has to decide whether to exempt any remaining liabilities on the borrower or not. The lender may settle only for the money received from selling the house and thus the borrower needs not to pay the exact sum of money borrowed at the time of buying the house.

If you are looking for a perfect solution for a fast house sale in the region, then log on to http://licashbuyers.com

Planning to Buy a house in cash? Consider these pros and cons before you

Buying a house in cash is becoming more and more common these days. If we look at the statistics, then the results are astonishing. Within the last one year, there has been a 6% rise in the number of buyers who bought their house for cash, according to the National Association of Realtors. If you are also looking to buy a house in cash , then you must be aware of the pros and cons related to it. Let us have a look at them:

Pros – 1.

Financial Security – Owning a property gives you a sense of security. If you choose to mortgage a property or plan to get a bank loan for the house, then you are always at a risk of foreclosure in case you miss your payments. Buying a house in cash can get you rid of all this, as you already own the house. Even in case of any financial downfall, you can be sure that you have a place to live that is going to be yours forever.

2.Ease of Buying – Buying properties that are available for sale in cash is a quick and efficient procedure. People who are in need of quick money tend to sell their property for cash. So, if you are in search for quick property, then you must consider buying a house in cash.

3.Credit history – if you plan to buy a house on loan, then the bank would need a good credit history. For people who have poor credit history for any reason, then you cannot get a loan. Hence, buying a house in cash can be the best option for you under such a situation.

Cons -

1.Tax Disadvantage – the most negative part of buying a house in cash is that you do not get tax saving advantage. In United States, mortgage interests are deductible on income tax. Hence, if you have a good source of income and fall under high tax bracket, you cannot benefit from these deductions if you buy a house in cash.

2.Liquidity – if you are limited on cash, then this is not the option for you, rather mortgage is the best option for you. It would free up your cash, so that you can invest and make more money

Above mentioned are some of the pros and cons of buying property in cash that you must consider. Depending upon your priority and your financial options, you can make your choice.

LI Cash Buyers are known to buy and sell house for cash in Long Island . Log on to www.licashbuyers.com to get in touch with them.

Homes For Sale – A Smart Option To Buy Homes At An Affordable Price!

Bank foreclosure is a legal process that comes into play when a borrower is unable to make the payment of loan to the lender. When such a situation arises, the lender has this option to sell the property of the borrower, which was used as a security for the loan so that he can recuperate the money he had lent.

For someone who is looking to buy property, foreclosure homes for sale are just the perfect option. If you are wondering what makes these bank foreclosure homes for sale such a smart choice, then you must keep in mind that these houses are available at an affordable selling price.

However, a question might arise here in your mind, and that is why these bank foreclosures for sale are so cheap?

The answer to this question lies in the fact that these properties are owned by people who are unable to pay their installment to the lender from whom they borrowed the money and left this property as a guarantee. In such a situation, the lenders who want to recover their money as soon as possible are left with no other option apart from selling the property. Most of the lenders sell the properties at prices equal to the left over amount that was not paid by the borrower/ owner of the property. Thus, one can get these foreclosure homes at a much cheaper price, sometimes at a price which is almost half of its value in current market.

So, if you are also looking to buy your dream home and have limited amount of funds by your side, then searching for bank foreclosures can be the perfect choice for you.

Wondering how do you get to know about these? Well, a local real estate agent can be your guide to locating foreclosure properties.These agents have contracts with banks and the banks provide them with a list of properties in the region that are available for a foreclosure sale.

You can even get online help as well, as there are many websites from where you can gather information about foreclosure properties. Many websites offer free one-week trial, however, in case you are unable to locate any desired property within that period, you might have to pay a minimal fee to continue getting the updates.

Whether you take the help of a real estate agent or choose to search online, the bottom-line still remains that buying foreclosure properties is going to be a smart decision.

LI Cash Buyers have been in the business of buying and selling of bank foreclosures for sale for over 30years now. log on to http://licashbuyers.com to have a look at the services they provide when it comes to buying and selling of properties.

Looking out for Bank approved short sale on long island?

Often shopping for a home, you may notice labels as bank approved short sale on long island, short pays and per-foreclosures. All these terms mean the same thing: the seller is attempting to negotiate a deal with the lender in the hope of avoiding foreclosure.

A short sale occurs when a homeowner is no longer able to make their mortgage payment. In such cases, the bank or lender agrees to accept less than the amount owed on the mortgage. This transaction is beneficial to the bank as it avoid Bank foreclosures for sale on long island , which is often expensive and time consuming.

So if you are interested in buying a property that is listed as a short sale, then here are some points that are needed to be considered.

First of all, buying short sale property is a simple way, where a contract would be made that specifies the terms according to lender’s approval.

Along with this an individual should have all necessary documents that are needed to precede further for short sale i.e. a contract of sale and purchase, HUD-1 settlement statement, detailed information on the financial condition of the seller (pay checks, bank statements, and personal financial statement).

For a layman doing short sale by themselves is difficult. So to be on a safe side, it’s a must, to find a short sale agent as they are the ones who handle negotiations with the bank. Further read on the points in this article, so as to find a reliable agent:

• Contact the local agents: as your friends and family about good agents and further make a list of all agents who are specialized in short sales. Ask those agents how many short sales they have handled in the last year so as to know their experience.
• Market the property: hiring a good agent is must, as he/she would know how to effectively market your property. Thus ultimately would help you get right property value.
• List of past clients: one must ask list of past clients with whom the agents have worked. Thus by interviewing the agents it helps to know the record of short sales done by agents. Thus one must call these clients and ask them if they were happy with the service they received. Along with that one must query about the time period taken by the agent to buy or sell residences by short sale.

Log on to http://licashbuyers.com/ and find out the best long island Bank approved short sale or foreclosures properties on long island.