In Real Estate, What is A shrt Sale?
916571
A short sale is the sale of a property for less than what was owed. This is very common right now and with the increasing foreclosure rate it will be so for some time. The orginal note holder must contact the lender and request the short sale. The lender then approves the property to be sold at the reduced amount to liquidate the loan. They then 1099 the original note holder for the difference and they take it as ordinary income. This is still far better than the alternative which is a foreclosure.\n\nI write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
94714
The answer to this question depends on the market.  Some markets are "seller's markets".  If you are in one, you will probably have to offer MORE than the asking price.  You may ask your agent to provide an MLS list of homes that have recently sold in the specific area you are considering.  Look at the days on market (DOM), the asking price, and the sale price.  If the days on market are low, you are probably in more of a seller's market.  Even so, look at how close the asking and sale prices are.  Take the sales in the last 30 days for that area and find the average cost per square foot for the type of home you are considering and use that average as a guideline (new construction cost per sq ft is usually higher than resale cost per sq ft. but consider recent renovations and lot size).  Always make the contract contingent upon a home inspection. There are some markets that are so favorable to sellers that buyers will waive this...I do not recommend doing that on a resale buy.  Always ask the seller to give you (at least) a one year home warranty.  Good luck!
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You may want to try listing it on the internet site \n \nhttp://ired/int/   that will give you a much larger pool of people to draw from, other sites are available to do the same thing just do a web search for international real estate listings and choose the best one for you. I hope I have helped some,  good luck with your sell!!\nTrisha
172948
It is a company that handles the transfer of real estate from one party to another.
1139907
garage and yard sales.  Estate sales.
912684
Research your options.  Basically, the best coverage is to do a for sale by owner,using a service for a fee that puts your home in the multi list, agreeing to pay a commission if a realtor brings you a buyer.  You are always in control of the selling price though.  Good luck.  In my personal experience, I adverstised a summer home in the Sunday paper with a photo and got a lot of calls.
707279
What is a "short sale"?\nIs there a "long sale"?
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Most typically used with FHA loans, non-profit groups like Nehemiah allow sellers to increase the sales price of the home  to allow the seller to contribute 3% toward the buyer's downpayment and still receive the same amount for their sale.\n\nHere's a simplified example: Seller wants to get $100,000 for their home. The buyer needs a minimum 3% into the transaction (according to FHA loan requirements).\n\nThe seller agrees to write the contract for a sale price of $103,100. The seller "contributes" $3,100 toward the buyers downpayment. Buyer gets their downpayment covered and the seller nets the same amount - $100,000.\n\nReal estate agents love it because the commission is paid off of a higher amount.\n\nThis is all legit and intended to encourage 1st time homebuyers.\n\nCheck out more info at www.getdownpayment.com
224402
Realestate is available everywhere ... not just other places
715069
purchase power - sales opportunity
1047902
I think what you are referring to is a “Short Sale” this is when the lender agrees to a certain amount of money to pay off the loan in it’s entirety or partially.\n\nA person goes in talk to the current owner of a property that is in foreclosure or about to go into foreclosure. \n\nThis person gathers information about the property, by inspecting it for any damage, records this information as well as the cost to repair any and all damage.  Take several pictures of the property to include damage inside and outside the property.\n\nHe then call the lender and request a “Short Sale” indicating all damage to the property cost to cure the damage, back payments that are accumulating on the property, tells them the owner is planning to move which more damage will be done to the property since no one will be living there.\n\nThe lender takes all this into consideration, makes a decision to find out the value of the property do they send a realtor that is familiar to the area out to inspect the property, take a few pictures of the property. The realtor once he has completed his evaluation of the property along with the pictures he has taken send this information to the lender. While the realtor is at the house the person that want to conduct the short sale is there also pointing out any damage they think is important to be included in the evaluation report to the lender.\n\nOnce the lender has received this information, he has to make a decision as to go with the short sale or continue to lose money in the foreclosure, knowing the owner is scheduled to move and a possibility of more damage.\n\nThe lender agrees to the short sale, he and the person putting together the short sale agree on a price of $250,000 as what the lender will take to pay off  the loan and any other fees owed to the lender. The real value fixed up is some where around $330,000.\n\nNow the person putting this sale together goes back to the current owner, tell him a short sale is possible and what does he desire for his equity in the property. They agree on a figure of $10,000 for him to move.\n\nThe person now advertise that a house is available for sale below market value. A buyer emerges to purchase the property. The person selling the house make a deal with the new buyer of $320,000 and a $10,000 toward the repair of the property.\n\nA closing agent is retained to do the closing as well as title company to take care of the title work in transferring the title from the old owner to the new owner.\n\nThe transaction is complete, the closing officer pays the lender $250,000, the past owner $10,000, credit the new owner with $10,000 at closing, and pays the person that put the “Short Sale” together the remaining money of approximately $50,000. Now there is closing cost that someone has to pay so that will have to be paid.\n\nEveryone is happy the old owner got $10,000 to start over as well as his name is no longer on the mortgage. The lender is happy they are paid off, the foreclosure is  over, they don’t have an REO. The person that purchased the house is happy even though they will have to do some repairing of the property they got $10,000 to assist in that as well as $10,000 worth of equity. The person that put the short sale together is happy because he got paid for making everyone involved in the transaction happy.\n\nI hope this is of some use to you, good luck.\n\n"FIGHT ON"
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Contact your real estate broker, they're usually experienced with things like this.\n\nMy understanding is that usually there's a clause in the selling agreement that if the buying party can not full fill the payment required the transaction may be canceled.
677212
Letter of Intent\n\nKind of like a pre-contract where you agree to purchase (real property or goods) at certain basic terms, with the rest of the terms to be agreed in the final contract.
844781
Your best bet is to get the information directly from the folks that do this for a living. Try looking at this site:\nAmerican Moving and Storage Association: http://www.moving.org/ \nYou should be able to find information they provide to the public relating to your question.\nIf you wish to conduct a more detailed free research on your inquiry you should go to our educational real estate research page http://www.realestateformnm.com/ResearchLink.html there you will find more links for real estate related research than any other site.
441241
Okay here we go.\n\nA 1031 exchange is a method of selling one house and buying another without being subject to taxes typically imposed.  It appears your buyer is in such a situation.  When he sells his property the proceeds go directly to the Exchange Company.  When his purchase of your home is to close the Exchange company uses these funds for his down payment.  The closing statement will actually show the exchange company as the buyer.  This is not a concern for you.  \n\nGenerally this purchasing method is used when a buyer is a real estate investor and he is exchanging one rental property for a new rental property.  Again, this is an outside issue and should not impact the sale of the home or hinder the proceeds you receive.\n\nRead the contract thoroughly.  If necessary have it reviewed by an attorney.  Based on what you have said it does not appear your interest in the property will be comprised.\n\nIf you have any-other questions feel free to contact me and if I know the answer I'd be happy to help.
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A Realtor is supposed to work for you.  \n\nConsider them your employee.  They only make money if they sell your house.  \n\nIF they have found a buyer at the higher price, and are trying to make a larger profit by buying from you cheaper then selling to them, that is unethical.  It's also called flipping and in most states is not legal
317814
You are asking the Million Dollar question. But from my personal opinion, Real Estate Market is slowing down it shows signs of decress in growth each year. However, decress in groth means that it does not go up as much as last year but it's still going up. Last year there was a 13% increase in home price in LA county, and 15% the year before, and 20% the year before that. So house price is still going up. Make sure you invest in good location. \nAfter all, real estate is all about location.