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5 Helpful Real Estate Articles You Don’t Wanna Miss

5. A Guide to Owner Financing

$25.9 billion of owner-financed loans were created in 2018 throughout the United States.

What is owner financing and how does it work?

Owner financing is a method of financing a property in which the owner of the property holds the buyer’s loan. It works like bank financing, but the buyer repays the seller by making monthly payments over an agreed-upon period with a specified interest rate and terms.

Owner financing can also be called seller financing or seller carryback financing (because the owner “carries back,” or holds, the financing).

While this way of financing properties is less common than traditional methods, it’s a viable option and more common than you might think. According to Advanced Seller Data Services, $25.9 billion of owner-financed loans were created in 2018 throughout the United States.

There are no restrictions on who can use owner financing or what type of property can be bought or sold with it. Read on

4. 5 Unique Down Payment Sources To Consider

A down payment is a cash payment you’ll make on closing day that goes toward the total purchase price of your new home.

The more you put down up front, the less you’ll have to borrow, the lower monthly mortgage payment.

While you commonly hear about a 20% down payment for conventional loans, there are some great loan programs out there, like the FHA loan, which allows you to put as little as 3.5% down. On a $200,000 home, that would be a $7,000 down payment – which is still a pretty penny! Read on for some creative ways to source the down payment you need.

3. How To Sell Your House “By Owner” – By Yourself, Without A Realtor!

If you want to sell your house without an agent, you’ll need to know exactly what you’re doing in order to get the money you deserve.

The single most obvious reason to sell your house yourself– is to avoid having to pay the real estate commission. In most markets, the typical real estate commission is six percent of the sale price. That means that if you are selling a house for $400,000, you will have to pay a commission of $24,000 ($400,000 times six percent).

That may not seem like a lot of money on a $400,000 sale. But this is where it’s important to remember that though the commission is based on the sale price of the property, it’s actually paid out of your home equity.

While selling your house yourself is a challenge, thousands of people do it every month. And once you know the process, it’s actually very doable. You basically need a strategy, and that’s what we’re providing here.

2. Avoid These Mistakes When Selling Your Home

Selling your home can be surprisingly time-consuming and emotionally challenging especially if you’ve never done it before. At times, it may feel like an invasion of privacy because strangers will come into your home and poke around your closets and cabinets. They will criticize a place that has probably become more than just four walls and a roof to you, and, to top it all off, they will offer you less money than you think your home is worth.

With no experience and a complex, emotional transaction on your hands, it’s easy for first-time home sellers to make lots of mistakes. But with a little know-how, you can avoid many of these pitfalls altogether. Read on to find out how you can get the highest possible price for your home within a reasonable timeframe—without losing your mind.

1.Home Buying And Selling In The Time Of Coronavirus

Rachel Manning lives less than four miles from the center of Boston, in the popular city of Somerville. Up until about a month ago, she planned to sell her 1,900-square foot, three-bedroom condo and relocate to Washington, D.C. this spring. Her Somerville condo could attract a high enough sales price that she planned to use the proceeds from the sale to cover her down payment on a new home in her new city.

In the past few weeks, though, housing transactions in Boston and other cities around the country have struggled to adapt to the economic and logistical realities that COVID-19 has imposed.

Up to this point, the actual repercussions have emerged unevenly, in part reflecting the uneven timing of the virus’s spread: In some cities, housing activities have remained surprisingly immune to dire coronavirus news, with the parties involved just completing tasks through “contactless” methods. But in other cities, stay-at-home orders and nonessential business closings have delayed or entirely derailed purchases and sales. Read on….

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