Santee Fast House Sales

Helpful tips to sell your house quicker in 2015

Author: admin

Homeowner loans explained: all you need to know in 2015

Loans for homeowners

Loans for homeowners

There a 2 main category of personal loans available on the market today. The personal loan which is the common unsecured type of loan you’ll see typically offered by your high street bank or building society, and the secured loan which is only available for homeowners and buy to let landlords.

This article will explain what secured loans are and when you might need one, and we’ll explain how they differ from the range of unsecured loans you’ll typically see in the market place today.

Here are the all the facts you need to know:

 

  1. They are often referred to as homeowner loans as they are only available to those who own their own home. Both terms mean the same thing and are simply referred to and presented differently.
  2. They are similar to a mortgage in that the loan amount is security against your property. This could either be your home or a buy to let property. This means that the property becomes collateral for the loan.

 

  1. Similar to a mortgage lender, the secured loan lender will only borrow the applicant up to a limit based up loan to value percentage. For example the highest loan ratio currently available for smaller secured loans of up to £15,000 is 95% loan to value. The higher LTV you require the more you can expect to pay in interest charges for your loan as these types of loans carry more risk to the lender.

 

  1. Currently as of July 2015 the cheapest rates for secured loans start from 3.7% APR and rise to in excess of 30% APR for applicants with a poor credit record. The best and lowest rates are only reserved for applicants with an excellent credit score and who require a low property loan to value ratio of 70% LTV and less.

 

  1. They can be found, compared and arranged online in the same way most other financial products can. Many of the well-known and most popular financial comparison sites allow you to compare the loans on offer. They display the rates and details of each product so you can compare and choose the best loans online.

 

  1. They can be taken out over a longer period of time when compared with unsecured loans. A secured loan can be repaid over 3 – 25 years, while in comparison unsecured loans are 1 – 7 years typically.

 

  1. They are generally larger loans starting from £5,000 up to in theory Millions of pounds depending on the property to act as security and the affordability of the borrower to repay the loan. In comparison an unsecured loan for most lenders will have a maximum borrowing limit of £25,000.

 

  1. They carry more risk for the borrower as in the event you were unable to meet your loan repayments you home could be at risk of repossession. Your home could be repossessed to then sell and to repay back what you owe to the lender, plus the total of any interest and fees due.

 

  1. The most popular reasons why people take out a secured loan is for home improvement works such as home extensions, new conservatories and kitchens. Borrowers also use larger loans to consolidate existing and more expensive debts to make their loan repayments more affordably and easier to manage.

 

  1. If you have a low credit score or a history of bad credit then you have a greater chance of getting this type of loan when compared to a regular unsecured loan. This is because you’re able to provide the lender additional security and therefore this reduces the risk to the lender, which then in turn enables them to borrow you the money you need.

 

  1. Loans for self-employed people, on benefits and pensioners with repayment terms available up to the age of 85.
  2. Secured loans are organised by loan brokers who act as intermediaries between you the borrower and the lender. They are able to quote you the loan you require and will also deal with any issues on your loan application. Loan brokers charge a fee for this service which is generally up to 15% of the loan amount and varies depending on how much you wish to borrow. The broker and any lender fees are added to the loan amount.

 

  1. As part of the loan application the lender will require a home valuation is carried out to ensure there is adequate security for the loan. With this in mind, secured loans can take a little longer to process and arranged when compared to an unsecured loan.

 

  1. Like an unsecured loan the lender will require a credit check and will carry out an affordability test to ensure you can adequately afford to meet the loan repayments while taking into consideration any of your existing loans or credit commitments.

 

How to sell your house fast in a slow housing market

How to sell your house quickly

How to sell your house quickly

In situations of unemployment and economic hardships faced by the national or global markets, the number of people willing to buy a home may also decrease significantly. But, even when the market has decelerated, there are still enough buyers looking out for a nice home. The right steps and approach can help in boosting the chances of a sale. Performing a little extra effort is all what you need to sell your home in a depressed market. Here is a detailed guide about how to sell your house fast in a slow housing market.

1. Price The Property Wisely

The first and foremost element of working towards selling your house in a slow market is to understand the market thoroughly as well as to know what is happening. Gaining a deeper insight into the same increases the chances of a successful sale as it enables you to plan out the budget accordingly. Make sure you don’t set the price of the house above the current market value as an overpriced property is likely to languish on the market. It is important to set the prices for your home in a competitive way. Although, realistic and reasonable pricing is always crucial to selling a house, it becomes even more necessary when you are selling it in a slow market. If there are similar property listings in the nearby areas, then you should select a price that is a little below that of the most comparable properties to yours. Just a little under-pricing of your house relative to others being offered in the same location can significantly help in cracking the deal.

2. Find The Right Agent

Finding the right real estate agent or consultancy with supportive services can actually make the whole process of selling the house and getting potential buyers very easy on a slow market. You can always seek recommendations from your friends, neighbours and workmates when it comes to hiring an efficient agent. Whenever you meet an agent in person, make sure you discuss about the marketing plan in detail. A good real estate consultancy will possess more operatives and a huge database of potential buyers, which makes them different from small property brokerage firms with limited resources and network.

3. Adopt Efficient Marketing

Selling your home fast in a slow housing market requires efficient marketing techniques and exposure to a large audience. Some ways that can present your house to thousand of potential buyers in a very short span of time are listed below :

– Listing your house on different listing services
– Marketing on real estate websites
– Posting ads in local newspapers
– Distributing flyers
– Employing community publications

Also, you must present and market everything that’s good about your house. For that, include as many pictures as you can with your listings as it helps in cutting out the buyers who won’t like your property. You surely would not like wasting your time in displaying your house to people who are seeking something different. Posting a lot of photos also helps in generating the interests of those buyers who are looking for a place like yours. You must not presume that people will already know the little things, instead showcase the curb appeal and home staging, while making sure to point out all the big and small features.

4. Make Your Home Stand Out

When the housing market is down and the demand is low, it is quite essential to make your home look appealing and presentable. A well-maintained and clean property always attracts potential buyers. The right staging also involves removing the personalization you have done to the house as far as possible as prospective buyers are willing to visualise a house with their own belongings and identity in it. Remove all personal items such as drawings or photos on the walls or stickers on the fridge. Make sure you keep only those items in the house that enhance its value.

Also, it is more cost-effective to make a small investment in enhancing your property than going for a price reduction. Fix all issues associated with improper window frames, cracks in the masonry, water seepage, loose railings or plumbing. With so many choices available on the market, buyers prefer to go with a house that is move-in ready and doesn’t require much of effort and expense on refurbishing and repairs. Appointing a professional stager can be very helpful in providing you with all the required advice when it comes to working on the look of your property.

5. Offer Negotiations And Incentives

Being a little flexible when it comes to the terms and conditions can make huge impacts on a buyer’s market. Most buyers are likely to look for some scope for negotiation. Usually, a home has chances of being ignored by potential buyers if it is priced too high and the seller refuses to negotiate on terms. Be open to making slight changes to the price that you have set as well as try offering an extended closing date for the financial terms if required. It is advised to offer an an adjustment to the terms of the sale in order to counter an offer that asks for a cost reduction.

The next thing that can help is to offer potential house buyers some attractive and interesting extras that sound great to them, but don’t cost you too much. Offering to pay for some of the buyer’s closing costs, paying for a renovation on upgrade to the house as asked by the buyer and giving seller-funded property warranties are some of the common incentives in today’s housing market. Particularly, when the housing market is slow, buyers find it quite attractive when the seller offers closing cost assistance.

Undoubtedly, it is quite a stressful task to sell your home in a slow housing market. But, at the end of the day, a good property will always have its potential buyers. So, avoid showing any signs of desperation and employ the right resources. All you need is to keep patience and be flexible with the different aspects of the whole process.

The Advantages of Selling Your House Quickly To a Cash Buyer

Sell your house for cash

Sell your house for cash

Selling your home can prove to be a complicated and a stressful experience. You may have to look for a reliable and trustworthy agent, have your home correctly appraised so as to know its real value, make sure your home is good looking, advertise the sale of the house, and wait for the offer for it to be done hoping that the prospective buyer will get a mortgage for the transaction to go through. This endeavours not only do they take much effort but also take a lot of time to finalise; as a matter of fact, the process can take months or perhaps years.

Probably you may be in need of cash immediately or really need to delink yourself from your home immediately due to factors such as nearing foreclosure, divorce, avoiding the need for a realtor, making the process easy and simple for yourself or other financial difficulties which may increase you anxiety exponentially. In such cases, you will need to look for alternatives methods to sell your home in the shortest time possible. One of the most reliable methods that will provide a solution in a very short timeframe is looking into direct sales to cash for houses buyers.

So, what are the advantages of selling your house quickly to a cash buyer?

  1. Fast and guaranteed house sale

When selling your house to a cash buyer, you cut down lots of process including approving financing, home inspection, appraised values and many others. Cutting all this process expedites the transaction process considerably. Therefore, instead of having to wait for someone to make an offer and crossing your fingers so that the deal may go through as planned, a cash sale is the best option to avoid all this hassles. The good thing with a cash sale is that, after the cash offer for your home has been accepted, you can get your cash in the shortest time possible. When in difficult financial circumstances or you need to delink yourself with your house as quickly as possible in order to relocate, then the speed of sale is essential and can only be guaranteed by a cash sale. When you sell your house to cash buyers, you’ll get the needed money in the quickest time possible to avoid getting into financial crisis and inconveniences.

  1. Helps one Avoid disappointments and complications

Selling your home can come with different difficulties and frustrations. For instance, a buyer can make a very attractive offer and after a while ends up declining to enter into an agreement. Others even decline at the very last moment. This means that you will have to start all over again taking offers, leading to time and effort wastage thereby prolonging the sale process. This can be avoided by just selling your house to cash buyers. Once the buyer makes the effort of paying the cash, they cannot back out or decline to honour the agreement as they have already paid the needed cash to you. Avoid these complications by choosing to sell your home in cash.

  1. It is the most convenient way

A cash sale is the most convenient method to sell your home, both for the buyer and the seller. Cash sale means that you don’t have to worry about repairing your home as most buyers want it the way it is.it also saves you time and money required to advertise it in the showrooms. By opting for this method of selling your home, you save money and time spent in keeping the house in the standards required by the showroom to sell it; decorations and repairs. You may get lesser money as compared to the current market cost, but it will have saved you time, the cost of repairs and decorations which will be passed over to the buyer. In fact, if you balance your figures well, you’ll probably get that the cost of decorating, advertising, and repairing, cancels out the money foregone by opting to sell it at price slightly below the market cost.

  1. It reduces the number of negotiations 

After the buyer assesses the home and makes their offer, you either accept or decline. There is very little negotiation with this process. Often, serious buyers will not come quoting an offer that may sound ridiculous, Most even don’t have time to haggle because the value of the home is well known to both of you. If you intend to sell your home quickly and efficiently, selling via cash sale is an excellent option.

  1. It helps eliminate the uncertainty of buyer’s financial strength

Cash payment helps the seller to eliminate most of the uncertainty surrounding the financial strength of the buyer. This is because a cash offer deletes the instances of the mortgage contingencies. Once the buyer enters into this deal, it becomes hard to cancel the transaction or back out from it.

With that in mind, you can now opt to sell your home through cash sale rather than through realtors or other complicated methods, but what are some of the things you should do before entering into this kind of transaction.

Hire a qualified surveyor to value you home- never trust the buyer to give you the real value of your home. Having information about the current value of your home will give you a clear picture of the offer to expect from the buyer.

Be accompanied by a lawyer when finalising the deal- a cash sale follows a similar procedure to that of the mortgage agreement. Have a lawyer to act as your witness and to ensure that all the legal documents are in place.

Ensure that the money is in your bank account before signing the transaction document- in most cases; the payment is done by a cheque. Ensure all the legalities are followed and the cheque has matured before penning down your signature on that sale document. In the case where a buyer who had accepted the transaction and deposited a cheque changing their mind and asking for a refund, never refund the cash until the cheque clears with the bank.

Suspicious payment- if you suspect any fraud on cash payment for a home, report the matter to the authority. The money could have originated from illegal activities such as drug trafficking or money laundering. If this is found to be true, you will be termed as a collaborator and you could even lose your home.

Conclusion

A cash sale is the most convenient and fastest way to sell your home. When you opt to sell your home for cash, you will have avoided the long process of selling a home in traditional way and this will save you time and stress that accompanies all the hassles you may have to go through and lots of paperwork.