Posted On: April 2nd, 2019 6:24AM
Hadi Bahadori(949)610-5720-Local Realtors In Aliso Viejo
Hadi Bahadori(949)610-5720-Local Realtors In Aliso Viejo
A good real estate agent can make or break your deal. We'll give you the best practices for finding the right real estate agent before you start shopping for a home. Some people, for their own reasons, don't trust real estate agents and don't really understand what an agent brings to the table that they can't do for themselves. Two of the biggest mistakes home sellers make when choosing a listing agent are selecting an agent solely based on the following Highest list price or Lowest commission. At first glance, a seller might say, "What? Are you nuts?" Because sellers want the highest possible price and to pay the least amount of commission. But those two criteria have very little to do with hiring a competent agent and, in many instances, are completely irrelevant. Agents can't tell you how much your home will sell for. That's a fallacy. A listing agent can show you comparable sales, pending sales, and active sales. But YOU choose the sales price and a buyer will tell you if the price is right. An agent can suggest the list price that will attract a buyer. Where it goes from there is generally left up to the buyer. Since agents can't guarantee your sales price, the listing agent who suggests the highest price could very well be untruthful. Ask the agent to show you numbers supporting that suggested list price. If the agent has no stats or the home sales are located in a different neighborhood, that could be a red flag. Look for a listing agent who gives you a range. There is often, but not always, a price range. It might be apart $10,000 on the low-end versus the high, or the spread might be greater. Many factors determine the range, among which are location, the temperature of the market, and improvements in the home. The best time for an offer is within the first 30 days on market. Twenty-one days is ideal. If the home is priced right, you'll get an offer. If it's priced too high, you might not get any showings at all; buyers will shun your home and you'll eventually end up reducing the price, leaving buyers wondering what's wrong with your house. Should You Choose an Agent-Based on Commission? Real estate agents are not equal; each is unique. Remember about 10% of the agents do roughly 90% of the business. Each has her own marketing techniques and advertising budget. By choosing an agent with a large advertising budget and company dollars to match it, you might gain greater exposure to the largest number of buyers, which is ideal. Reaching greater numbers of buyers equals better chances of a good offer. Why would an agent willingly work for less than competitors? There is always a reason why a broker or real estate agent would discount a real estate fee. Sometimes it's the only way the agent feels it's possible to compete in a highly competitive business because the agent can't otherwise stand apart from the competition on service, knowledge or negotiation skills. If the sole benefit an agent brings to a table is a cheap fee, ask yourself why. Is the agent desperate for business or unqualified? Do you want to work with a desperate agent? Sometimes full-service agents will negotiate a lower commission under special circumstances such as: You're buying a home and selling a home at the same time, giving both transactions to one agent. I don't give discounts like that*, but some agents will. You're willing to do all of the legwork, advertising, marketing, and pay for expenses related to the sale. You promise to refer more business to the agent, which would result in multiple transactions. You're selling more than one home. You don't have enough equity to pay a full commission. The agent accepts you as a pro bono case. The agent will lose the listing unless she matches a competitor's fee. The agent wants the signage (exposure to traffic) overcharging a full commission. If you are interviewing agents who offer similar services and can't decide between them, ask to see a track record of each agent's original list price and final sale numbers. Odds are the lowest-fee agent will show more price reductions and longer DOM. The difference between an agent who charges 5% and 6% is 1%. Ask yourself how you come out ahead if your price ends up reduced 2% because you chose a lower-fee agent who could not afford to actively market your home. Tip: If your home is located in a hard-to-sell neighborhood, consider an agent with experience selling hard-to-sell homes. Importance of Agent Marketing Beyond the expensive car or fancy clothing, a good listing agent lives and dies by marketing. Because marketing sells homes. Ask to review a complete copy of the agent's marketing plan. Precisely, what is the agent going to do to sell your home? If you like to have a private consulation about Local Real Estate Agent Aliso Viejo please feel free to contact Hadi now!
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Posted On: March 14th, 2019 11:55PM
Posted On: February 19th, 2019 8:39PM
There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale." When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales. If you are considering buying a <a href=”https://en.wikipedia.org/wiki/Short_sale_(real_estate)”>short sale</a>, there could be drawbacks. For your protection, I suggest that all borrowers: * Obtain legal advice from a competent real estate lawyer * Call an accountant to discuss short sale tax ramifications As a real estate agent, I am not licensed as a lawyer nor a CPA and cannot advise on those consequences. Except for certain conditions pursuant to the Mortgage Forgiveness Debt Relief Act of 2007, be aware the I.R.S. will consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid. In some states, this amount is known as a deficiency. A lawyer can determine whether your loan qualifies for a deficiency judgment or claim. Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect. Call the Lender You may need to make a half dozen phone calls before you find the person responsible for handling short sales. You do not want to talk to the "real estate short sale" or "work out" department, you want the supervisor's name, the name of the individual capable of making a decision. Submit Letter of Authorization Lenders typically does not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, title company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. The letter should include the following: * Property Address * Loan Reference Number * Your Name * The Date * Your Agent's Name & Contact Information Preliminary Net Sheet This is an estimated closing statement that shows the sales price you expect to receive and all the costs of sale, unpaid loan balances, outstanding payments due and late fees, including real estate commissions if any. Your closing agent or lawyer should be able to prepare this for you if you do not know how to calculate any of these fees. If the bottom line shows cash to the seller, you will probably not need a short sale. Hardship Letter The sadder, the better. This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior. Proof of Income and Assets It is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lenders are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving. Copies of Bank Statements If your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number of checks, it's probably a good idea to explain each of those line items to the lender. In addition, the lender might want you to account for each and every deposit so it can determine whether deposits will continue. Comparative Market Analysis Sometimes markets decline and property values fall. If this is part of the reason that you cannot sell your home for enough to pay off the lender, this fact should be substantiated for the lender through a comparative market analysis (CMA). Your real estate agent can prepare a CMA for you, which will show prices of similar homes: *Active on the market *Pending sales *Solds from the past six months. Purchase Agreement & Listing Agreement When you reach an agreement to sell with a prospective purchaser, the lender will want a copy of the offer, along with a copy of your listing agreement. Be prepared for the lender to renegotiate commissions and to refuse to allow payment of certain items such as home protection plans or termite inspections.
Posted On: February 11th, 2019 4:08AM
The easiest method to begin a 1031 Exchange transaction is to contact a good Exchange Company. The information concerning the exchanger, time and place of the closings, and a copy of the contract to sell the relinquished property are the preliminary papers to start the process. Many investors understand that when they do an exchange, they can't touch the cash and most investors have to recognize what they are going to purchase within 45 days of the closing date of the residential or commercial property that is offered. While both of these may be true, there are some other things to understand ahead of time that will make it much easier to have a smooth and successful 1031 exchange. The 1031 exchange rules enable you to sell your "relinquished" home to someone and get your "replacement" home on a later date from a various individual. By signing exchange files and following the other rules, you can take what would otherwise be a sale followed by purchase and turn it into an exchange. It's necessary to sign exchange files on or before the date that you close on the sale of your relinquished home. Exchange documents include an exchange arrangement participated in between the real estate investor and the intermediary, a project of your rights under the agreement to offer the relinquished property and a notification to the purchaser of the project. When you are closing the deal on the purchase you will also require to sign a plan of your rights under that contract, and you will expect to give the seller notice of that project. There are some expenses that can be paid with the exchange continues that will not cause the deal to be partly taxable. For instance, brokerage commissions, escrow fees, exchange charges and transfer taxes are normally thought about to be this type of expenditure. On the other hand, when you are selling the given up residential or commercial property, if you give the purchaser a credit for down payment or pre-paid leas, you are using exchange profits for non-exchange costs and it might lead to your exchange being partly taxable. Because of that, it's best to come in with your own funds to pay these if you don't want to pay any tax. There are, of course, really particular requirements that you should follow so that your sale deal will qualify for 1031 Tax Deferred Exchange treatment under Area 1031 of the tax code. We can assist you to sort through it all! .
Posted On: February 5th, 2019 2:48AM
Buying Bank Owned Properties In Mission Viejo??
Where do most investors turn to when they seek preforeclosure opportunities? Sure, they take a look at free foreclosure listings or even sources of foreclosure listings that they pay for. While these sources may lead to productive and profitable deals, they also require extensive marketing and business promotion in order for an investor to tap into these preforeclosure opportunities.
To Get a Free Foreclosure and short sale Course including how to buy REO Properties, Go here Reo Properties
What other options do investors have? Well, in today’s market, more and more realtors are marketing properties as short sales in the MLS. While these do represent preforeclosure opportunities, I also think that this can be risky for the investor because many real estate agents are pretty new to the foreclosure world (and thus may just be learning what is a short sale) and you are taking a chance that the agent in charge of the deal actually knows what they are doing. Plus, you still have the emotional aspect of the sale, a natural by-product of foreclosures that can complicate deals in some cases.
A significant but often overlooked option available to investors concerns bank foreclosures. This umbrella term includes REO properties and HUD homes but it all ties in with the REO process, the phase of foreclosure that follows the auction and where a lender must then sell the foreclosures in their inventory.
Many investors shy away from REO properties or HUD homes because they feel they have less negotiating power or simply lack the capital to make aggressive offers and play along with the rules that REO lenders stipulate. While I favor preforeclosure and short sales myself, I also have a system in place that allows the machine to run on autopilot, a system that I can also teach you.
My efforts here are to assure you that there are indeed deals to be found within the realm of REO properties. The offer process in many ways is less complicated, there is little to no emotion on the part of the seller (the REO lender), and deals can be completed much more quickly. If that appeals to you, and capital is your primary limitation, then you owe it to yourself to check out my Preforeclosure Cash Flow System and the module within it that covers how to obtain unlimited amounts of capital for your foreclosure business.
In closing, the entirety of the foreclosure process is ripe with deals that are there for the picking. As rigid as REO properties or HUD homes may seem, the REO process is as much as part of foreclosures as the preforeclosure side of the business. Don’t limit your scope, learn from what I have to offer you, and I wish you the very best in success in real estate investing.
Hadi Bahadori / Home Smart Evergreen Realty
27802 Vista Del Lago E-2
Mission Viejo CA 92692
J9M4+33 Mission Viejo, CA, USA
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