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Real Estate Information |
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Why You Need a Lender to Sell Your Home
Home sellers who are prepared to help buyers find financing will sell their homes faster, and for a larger selling price. Think about your potential buyers: some of them will have already arranged for financing, but many don't know how to buy a house. By offering financing options and being able to help with buyer closing costs, you can open up new possibilities for selling your home. This isn't as difficult as it might sound. By contacting local banks, mortgage companies, and lenders, you can easily find out what type of loans they offer. Also ask about credit scores, income and down payment requirements, special loans for first-time homebuyers, and if they allow you to contribute to a buyer's closing costs. The Most Important Issue for You is the Lender's Appraisal Many banks and mortgage companies employ appraisers who only work for them, but that practice can cost you money as a seller. For instance, I once sold a house to buyers who were financing through a bank that used an "in-house" appraiser, and I lost $13,000 in profit because of a low appraisal. Only later did I learn that the bank commonly understated appraisals, in order to protect themselves in the case of foreclosures. Many appraisers use only past sales when conducting their market analysis, but in fast-moving market areas, those prior sales amounts may not reflect current sale prices. A more accurate appraisal will also take into account sales that haven't yet closed and the list prices of similar properties on the market, which will give a better reflection of a home's true sales value. What about Buyers with "Pre-Qualified Letters?" Before you agree to sell your home to a buyer who comes with a preset lender, make sure their bank uses accurate appraisals. Don't sign a sales contract contingent on that bank's appraisal. You don't want to end up having to reduce your sales price, based on a low appraised value. You can avoid that situation by including a firm price in your sales contract and giving your buyers a set amount of time to arrange for financing before the sales contract becomes void. Finding a lender that offers a wide variety of loan programs and an accurate appraisal will go a long way toward selling your home quickly and at a higher price. It will also make it easier for buyers to purchase your home when you can tell them that your lender may be able to offer better financing and that you're prepared to pay a set amount of their closing costs if they'll use that lender. (c) Copyright 2004, Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
MORE RESOURCES: Experts predicted Minnesota real estate agents would quit, 5 INVESTIGATES found a different reality 5 EYEWITNESS NEWS Altadena’s rough real estate market: Slower sales, lower prices, lottery winner plucking up properties Los Angeles Times Real estate expert warns socialist mayoral candidate could trigger massive NYC exodus - Fox Business Real estate magazine reports Les Wexner as Blue Heron buyer The Martha's Vineyard Times Canadian psychologist Jordan Peterson sets up shop in the Valley, records show The Business Journals Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem - Crain's Detroit Business Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem Crain's Detroit Business Office real estate wide open in Denver as vacancy rate hits 36 percent Colorado Public Radio Vail Valley real estate inventory is on the rise VailDaily.com NAR Real Estate Forecast Summit National Association of REALTORS® Real Estate Partners Dollar Tree Let's Talk Business: June residential real estate sales lagging, heritage grants and more Pueblo Chieftain A New Perspective: Here Comes the Groom | Real Estate Insights Piedmont Exedra Boston Real Estate Times Unveils 2025 Excellence Award Winners: Honoring the Visionaries Shaping New England’s Future Boston Real Estate Times State lawmaker joins Westport commercial real estate brokerage as vice president Hartford Business Journal Dawson County weekly real estate transactions, July 18 Central Nebraska Today Private Credit Surges in 2025 as Real Estate Developers Bypass Banks The World Property Journal Real estate news: Senior apartments in Tustin sell for $83M; Fullerton Metrocenter snares $118M Orange County Register New York Housing Market Trends 2025: Is the Tide Turning for Buyers? Norada Real Estate Investments 5 Essential Tech Tools for Real Estate Agents National Association of REALTORS® Los Angeles Water & Power commits $100 to real estate debt Pensions & Investments Property management with an owner’s mindset J.P. Morgan Today’s Mortgage Rates: The States Offering Lowest Rates – July 18, 2025 Norada Real Estate Investments SRS Real Estate Partners Arranges $4.53 Million Ground Lease Sale of Walmart Property in Deltona, FL citybiz Real Estate Market Report (June) highlandscurrent.org Corcoran McEnearney Announces Evan Lacopo to Lead the Number One Real Estate Office in Alexandria, Virginia Alexandria Living Magazine Licking County real estate transfers for June 30-July 4 range from $200,000-$14.6 million The Newark Advocate Banner Real Estate Group Breaks Ground on 334-Unit The Faywell Multifamily Development in The Heart MultifamilyBiz Bridgemarq Real Estate Services® Declares Dividend Yahoo Finance CBRE Announces Strategic Leadership Appointments Across U.S. & Canada Advisory Business Boston Real Estate Times Moon Becomes Next Real Estate Frontier, NAR Reports Higher Foreign Investment In US Huntsville Business Journal Gravelle advises on current real estate market in Grant County Columbia Basin Herald Bard College hires real estate advisor and broker to sell Simon’s Rock campus - The Berkshire Edge GenesisM Breaks Ground on 154,000-Square-Foot Biomanufacturing Facility in Bedford, MA Boston Real Estate Times Mapletree Sells Sun Belt Warehouse Portfolio to EQT Real Estate for $241M Commercial Observer AGC MA Announces 5th Annual Building Advancement Externship to Bridge Educators with STEM Construction Careers Boston Real Estate Times What's the most expensive property sold in Rhode Island? July 18 real estate transactions The Providence Journal Operation Pawssible: Greenbrier Humane Society gets a boost from local real estate company Mountain Messenger The Pipeline: Commercial real estate roundup for 7.18.25 Richmond BizSense LOCAL REAL ESTATE TODAY 7.18.25 KQEN News Radio Home Buyers: Stop Freaking Out After the Home Inspection National Association of REALTORS® Miami-Dade’s self-storage surge a boom for real estate IslanderNews.com SRS Real Estate Negotiates $4.5 Million Sale of Walmart-Anchored Property in Metro Orlando Shopping Center Business Home Buyers May Have Accepted a New Norm on Rates National Association of REALTORS® Tips on spotting real estate investment opportunities and avoiding risks, from experts at GR Property Group Community Impact Stage Point Europe Launches Its RWA Token $SPET, Setting it up as a Bridge Between Crypto and Real Estate Morningstar Frederick Ford, real estate executive and first Black Union League Club president, dies at 98 Chicago Tribune Hunt Companies Acquires Controlling Interest in Carter, Strengthening Real Estate Development Platform Business Wire New plans unveiled for Water Street’s second phase Tampa Bay Times Top Stocks for Real Estate Investment Elite AI Stock Forecasts - Massive wealth growth Jammu Links News July Economist Snapshot: What Will the Big Beautiful Bill Mean for Commercial Real Estate and Housing? Urban Land Magazine Vend Leans Into Verticalisation As Real Estate Revenue Grows 11% In Q2 onlinemarketplaces.com Wood County Recorder reports on second quarter real estate activity BG Independent News Is Apollo Commercial Real Estate Finance Inc. a good long term investment - Explosive market performance Jammu Links News Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 - The Courier-Journal Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 The Courier-Journal Vendor & Real Estate Partners Dollar Tree Choice Properties Real Estate Investment Trust 2025 Q2 - Results - Earnings Call Presentation (OTCMKTS:PPRQF) Seeking Alpha Development Services Offers Online Early Assistance for Commercial Real Estate Projects Prince William County Government (.gov) Manitowoc's real estate transfers include a sale of nearly $1 million to Riverside Dairy Herald Times Reporter Real estate transfers: Lake Township condominium complex sells for $5.61 million - Canton Repository Youth Real Estate Academy in Flint abc12.com CCI Real Estate Obtains $67M in Construction Financing for Mixed-Use Community at University of Georgia REBusinessOnline Stonelake Capital sells dozens of industrial buildings across US for $920 million The Business Journals |
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