Why Rent Out an Inherited Home?

When you discover you are inheriting a home, you have a few options. You can:

• Occupy the home
• Sell the home
• Rent the home

There a number of reasons people choose to disclaim, sell, or rent out a home. They may already have a house, the home may be underwater or require extensive (and often expensive) repairs, or the taxes and mortgage may simply be beyond the person’s budget. Finally, there may a dispute among siblings about the house and renting it could be way of appeasing all parties involved, and making a little extra income in the process. Of course, there are definitely pros and cons to this route. You should weigh them both carefully before deciding to rent the property out to prospective tenants.

http://www.elitehomeoffer.com/blog/

9 tips to help you sell your property fast

• Accept the current market conditions.   Remember, you need to sell quickly, and that means you’ll probably have to settle for less than you’d like. The worst thing a person who is serious about selling their home can do is price it too high!
• Stage your home.   Although you don’t want to sink a lot of money into it, you can make it look as nice as possible. There’s a lot that can be done with little effort which will help in attracting offers. Just cleaning up the yard and getting rid of clutter can add value to your home selling experience.
• Make obvious  If you are going to try and sell your house on the open market, it is important to make those repairs which you know will turn off a buyer.  For example, fix any holes in the walls or broken windows.  If your yard is overgrown, cut it.  Of course, if you are selling to our Company, we don’t need you to make any repairs!  You can sell your home to us in “as-is” condition.
• Use good marketing tools.  Use the power of the Internet to list your home on as many sites as you can. Zillow, for example is a good place to not only list your house for sale, but also get an idea of its value. There are also plenty of other non-realtor sites you can use to sell your house free.  Put a sign in the yard, pin up flyers, and let every friend on your social media sites know you’re trying to sell.
• Use graphics in your marketing. These days people want to see pics and videos. Buy a decent camera and do a walkaround of your home both in still pictures and in video, and incorporate them into both your online and print listings.
• Hold an open house.   Invite the neighbors and their friends, and advertise it with all the resources you used to list your house.
• Use a realtor.  Really, the best way to get the highest price for your house is to hire a professional realtor.  Assuming your home is in good enough shape and you have the time, this is your best bet to get top dollar.
• Consider an investment group.  A good choice if you really need to sell fast. Real estate investment groups can be found in every city, and they’ll offer you a reasonable price, though not what you might get through a realtor. But, they’ll typically buy as is, pay all of the closing costs, take care of the paperwork. I know our Company will even let you stay in your house after the sale, to help you make a smooth transition.

The bottom line; there are plenty of ways to sell your home for a quick cash sale. If you use a little imagination and are willing to do a little bit of work, you will find the best alternative to meet home selling needs.

http://www.elitehomeoffer.com/blog/

Cons When Selling to Real Estate Investors

Investors Do Not Need a License to Buy – NOT ALL CASH INVESTORS ARE CREATED EQUAL! This means that, as the seller, you research and learn about the person/entity offering to buy your home. Some investors highly qualified and well funded organizations, that have built a good and trustworthy reputation – while a lot of “cash investors” are merely people out to make a quick buck – they are not rated by the Better Business Bureau (BBB) don’t have the funding to make good on their offer and are only going to try and sell your contract to an able buyer (this process is called “assigning a deal”). These types of “investors” are cause for concern for many sellers because they tarnish the principles by which most reputable home buyers operate.

There are Plenty of Scam Artists Posing as Investors – There’s a risk of fraud in any financial transaction, but it’s especially critical to avoid scams when dealing with your largest asset. To avoid any issues, get the name of the investor and do research online to see who they are, ask for references and look them up with the Better Business Bureau. Any reputable business will have a rating with the BBB. If they don’t, then they are just lazy – which is never a good sign.

Homeowners Will Likely Sell Below Market Value – Investors have their own costs to contend with and you can be assured that those costs will be factored into their offered price. Investors are also aware of the power behind their cash offer and the fact that they are taking a risk by purchasing “as is.” They may be relying on your motivation to get out quickly. Whatever the reason, it is unlikely that an investor will pay market value for a home in its peak condition. Just like any other business and/or industry, the home investor needs to make a return on their investment. Otherwise, in all honesty, the professional home buying industry would not even exist.

Even though I have merely scratched the surface with respect to the differences between a cash home sale and a traditional home sale, I hope that you have found this information helpful. There are so many different aspects to the sale of real estate that it is very difficult to cover all of the questions one may have in one article.

As a successful real estate investor I think that it is important for you to know one guiding principle as it pertains to selling a house (or anything, for that matter) – It is your home, you are in control of theprocess. You don’t have to sell your home for any price that you don’t believe is fair nor should you sell to anybody you don’t trust.

So please, do your research and act wisely as this may be the biggest sale you ever make. Until next time, happy selling and god bless.

Your Friend at EliteHomeOffer.com

http://www.elitehomeoffer.com/blog/

TOP TACTICS USED BY HOUSING SCAM ARTIST

Although there are multiple strategies used by these unethical groups, here are the ones typically used.

They told me on the phone it was an all cash offer

These guys will tell you whatever you want to hear in order to get a foot in the door. However, once they are in the door, they will undoubtedly try and persuade you to sell your house to them with owner-financing. They will try to have you deed the property to them while leaving the mortgage in your name.

Solution: There are times when owner financing makes sense. However, if they told you they would have a cash offer, then make them sign the contract showing all cash and have them provide a bank statement showing proof of funds.

They have the perfect solution for me… for a small upfront fee

After you are done explaining your situation to them on the phone, they let you know that they have the perfect solution for you and it will solve all your problems. All they require is a small upfront fee and they will give you the solution you have been looking for all along.

Solution: The Federal Trade Commission (FTC), the nation’s consumer protection agency, has a Rule in place to protect homeowners called the Mortgage Assistance Relief Services (MARS) Rule. MARS makes it illegal for companies to collect any fees until a homeowner has actually received an offer of relief from his or her lender and accepted it.

That means even if you agree to have a company help you, you don’t have to pay until it gets you the result you want. If you’re struggling to make mortgage payments or facing foreclosure, the FTC wants you to know how to recognize a mortgage assistance relief scam and exercise your rights under the new Rule.

And even if the foreclosure process has already begun, the FTC and its law enforcement partners want you to know that legitimate options are available to help save your home.

They need to send a few people over to look at the house.

After signing the contract they are planning on sending several people over to the house to view it. Translation: They are sending actual real investors to your house. Then they are planning on selling the contract to them for a wholesale fee.

Solution: If it is a wholesaler you are dealing with then you can expect that they are trying to get your property under contract with as little money and risk as possible. If they want an option period for more than 7 days, make sure you charge them a fee that they will not be ready to walk away from.

Also, you do not have to give them permission to have several people walk through your home. Typically, the only people that should walk through are a home inspector and any contractors they are using to get bids for repairs.

http://www.elitehomeoffer.com/blog/

IT MUST BE A TRUE WIN-WIN SITUATION

Obviously, even an legitimate ethical ‘We buy houses’ company is not going to pay full price for a house. They are in the business to make a profit just like everyone else. Now that said …keep in mind that a negotiation is only successful if both parties feel that they got a fair deal.

If you need to sell your home, possibly needing repairs, and reasonably quick, you will have to accept a lower price than you would typically list it with an agent. With the lower price you are offering, these companies are willing to accept the risk of paying cash to buy the house as is, no repairs, and provide quick relief to you.

When these companies make you an offer they use a formula that helps them to come up with the price. They consider the value of your home, the potential value once any repairs are made and the cost to make the home ready.

When you list your home with an agent or even a for sale by owner you incur costs than can include minor or major repairs, marketing fees, you pay commissions and you are in a waiting game not knowing when or if it will sell.

So what does that mean for you? If you are not restricted by a timeline it may be best to invest the time and money to “prepare” your home for viewing and list it on the market. If you are on a short timeline for any reason there are legitimate companies out there that can help. Just make sure you check them out.  If you are looking to sell your house, check us out, we are a professional home buyer who is highly trusted and rated A+ by the Better Business Bureau.

http://www.elitehomeoffer.com/blog/

COMPANIES THAT OFFER TO BUY YOUR HOUSE. HOME SELLER BEWARE!

Should consumers be cautious of companies that offer to buy your house? Absolutely!

Dishonest people prey on vulnerability. Consumers should always be cautious of business transactions, especially one of this magnitude!

What does that mean? The Internet is filled with personal accounts of people that have been taken advantage of and who feel like they have been scammed. You need to be armed with enough knowledge so that you can recognize a scammer and their tactics.

http://www.elitehomeoffer.com/blog/

Simplify the Process of Selling An Inherited House

Selling an inherited house to an investor is very common. When a seller considers the expenses and timing above, it really makes the most sense for many people to sell to a home buying company. Many inherited houses need repairs and updating, and that costs money. While you can avoid these updates and try to sell below the market price to get the house sold fast, you would still have to pay legal and real estate agent fees.

If you are considering selling your inherited house to an investor, check out Peggy’s story. As the executor of the estate, Peggy had a lot on her plate when her dad unexpectedly passed away. Her story represents a great example of the benefits of selling an inherited house to an investor.

As we mentioned, many of the homes we purchase are inherited. Not only are we experiences in facilitating seamless real estate transactions, but we are also Pinnacle Award Winners with the Better Business Bureau. When you sell your house to us, you are working with a company you can trust.

To get a no risk, free quote regarding how to sell an inherited house from your friends at Elite Home Offer, either call us at 916-239-2274 or fill out our Quick Offer form and we will have a quote to you within minutes.

http://www.elitehomeoffer.com/blog/

Can I Sell an Inherited Home?

Yes. In fact, many people choose to sell an inherited home to avoid the issue of property taxes or mortgage payments. Others may just have no need for an additional home or wish to settle a dispute with siblings over ownership of the home. Once the probate process has ended and the home belongs to you, you can sell the home with the help of a real estate agent or via short sale, which is faster and involves selling the home for the amount owed or at a reduced price. You can also sell the house while it is still in probate, hut this will involve a number of additional fees and court costs. If you think you may be interested in selling a home, you can contact Elite Home Offer to request a cash offer. We’re happy to answer any questions you may have about the process of selling a home.

http://www.elitehomeoffer.com/blog/

How Should I Sell My Inherited House?

Selling an Inherited Home for Cash can be the best option for settling the estate in a timely manner, without a lot of added expense.

How To Sell An Inherited House: What You Need to Know

Have you inherited a house from a loved one? If you have, you’re probably beginning to weigh your options. If you’re wondering how to sell an inherited house, selling to an investor can have many benefits. In fact, in many cases, it usually makes more sense to sell the property to an investor than other options because you can prevent out of pocket expenses, you can close much faster, and the process is goes much quicker. Let’s unpack why.

Prevent Out of Pocket Expenses

When you sell with a realtor, they will insist that you do all the necessary repairs and cleaning of your house before they ever agree to show it. When it comes to how to sell an inherited house with an investor, you can sell the house-as is without doing any repairs. When someone dies and the house is left vacant, his or her vacant property deteriorates. House maintenance usually ceases, and the homes could even be vandalized. Selling to an investor will prevent the house from remaining uninhabited and vulnerable to deterioration.

Selling the house to an investor also prevents the need to hire a real estate agent. Some investors, such as Elite Home Offer, even assist in changing the title over to the heirs, free of charge. Attorney’s fees can become costly, and if the estate is simple, a good investment company can help you transfer title without paying attorneys and court costs.

Close the Property Faster

If the house goes to probate, the property must be maintained even while no one resides there. Someone still has to pay the property taxes, homeowners’ association fees, insurance, utilities and lawn care. The probate process can take as long as six months or more, so families are paying for the maintenance of the home in addition to legal and other fees associated with owning and selling a property.

Then, once the probate is complete, you may need to repair it, hire a real estate agent and then sit on the house while the agent finds a buyer. And many agents will not list a house until probate is complete- so it is very likely that you may have to hold this house for up to a year before selling. Those carrying costs and commissions will add up fast. But if you sell to a solid investment company, you can have it closed in weeks rather than months.

Simplify the Process of Selling An Inherited House

Selling an inherited house to an investor is very common. When a seller considers the expenses and timing above, it really makes the most sense for many people to sell to a home buying company. Many inherited houses need repairs and updating, and that costs money. While you can avoid these updates and try to sell below the market price to get the house sold fast, you would still have to pay legal and real estate agent fees.

If you are considering selling your inherited house to an investor, check out Peggy’s story. As the executor of the estate, Peggy had a lot on her plate when her dad unexpectedly passed away. Her story represents a great example of the benefits of selling an inherited house to an investor.

As we mentioned, many of the homes we purchase are inherited. Not only are we experiences in facilitating seamless real estate transactions, but we are also Pinnacle Award Winners with the Better Business Bureau. When you sell your house to us, you are working with a company you can trust.

To get a no risk, free quote regarding how to sell an inherited house from your friends at Elite Home Offer, either call us at 916-239-2274 or fill out our Quick Offer form and we will have a quote to you within minutes.

http://www.elitehomeoffer.com/blog/

What is the “Single-Action Rule”?

The “one-action rule” is law that is unique to the state of California. The state passed the law to protect homeowners from multiple legal actions on a single debt. Essentially, this law forces lenders to choose one action to pursue in their attempts to collect debts on a home. They may pursue:

• A judicial foreclosure – Lenders may apply for a court order that allows them to foreclose on a property and seek the monetary difference between what the home is sold for and what the mortgage is worth from the homeowner. This course of action is rare, however, as the process is both expensive and time-consuming.
• A non-judicial foreclosure – Lenders generally choose not to pursue foreclosure through the courts, preferring instead to collect what they can on their investment by selling the house through a trustee. Because they are limited to one action in California, lenders cannot sue the homeowner for the difference between what they recover and what was owed on the loan. (Separate actions can, however, be taken against second or third mortgages.)

It is important that you know and understand your rights as a homeowner.  The California one-action rule is meant to protect you from harassment.

http://www.elitehomeoffer.com/blog/