2,99 €
Mehr erfahren.
You have probably been thinking about how you can invest in today's real estate market. You have been watching the news and reading the papers and probably by now realize that the residential real estate market has reached rock bottom. There are many more houses on the market than there are buyers. This means that this is the time to buy and not sell. It almost looks as if it is fruitless to want to invest in real estate in the market today...or does it? Perhaps you have heard some people talking about investing in real estate today and making quick money and thought that it was some sort of scam. After all, how can you invest in a down market and still be able to turn it around and make money? It has to be some sort of scam and must be impossible to accomplish. Or is it? If you have been looking for a chance to make a higher return on your money than you can get anywhere else on the market, including the stock market and with minimal risk, look no further. You can invest in today's real estate market and take advantage of the current situation. There are more foreclosures than ever in today's real estate market. Foreclosures have hit their all time high in states such as California, Florida and Nevada. Most of the states in the union have also been suffering from massive amounts of foreclosures. You have probably heard about people who are purchasing foreclosed properties and making money. But this can be difficult to do if you do not have an inside guide to the market. After all, the investors who know the market will be the first to grab the properties that are well worth getting. You may be able to buy a foreclosure, but you might not be able to get that good of a deal. There is a lot of competition out there for the foreclosure buying market. But what if you do not wait for a house to go into foreclosure? What if you have a method where you can purchase property that is in good condition for less than market value and make the seller and prior lender happy? Do you think this would work for you? This book will teach you everything you need to learn about a short sale, how to find a good opportunity and how to negotiate with the seller as well as the lender. It will each you how to find investors and what to look for when you are investing in a short sale property. All in easy to understand language that takes you through the short sale process step by step. There are many differnet ways you can make money in the short sale vehicles. You can use the properties that you buy to make money as a long term real estate investment or a short term investment. If you think that the buyer's market means that real estate investing days and making quick money are over, think again. You have the perfect opportunity for a quick turnover in a short sale.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Veröffentlichungsjahr: 2014
Ähnliche
Short Sales - Investing In Today's Real Estate Market
BookRix GmbH & Co. KG81371 MunichLegal Notice
This digital eBook is for informational purposes only. While every attempt has been made to verify the information provided in this report, neither the author, publisher nor the marketer assume any responsibility for errors or omissions. Any slights of people or organizations are unintentional and the development of this eBook is bona fide. The producer and marketer have no intention whatsoever to convey any idea affecting the reputation of any person or business enterprise. The trademarks, screen-shots, website links, products and services mentioned in this eBook are copyrighted by their respective owners. This eBook has been distributed with the understanding that we are not engaged in rendering technical, legal, medical, accounting or other professional advice. We do not give any kind of guarantee about the accuracy of information provided. In no event will the author and/or marketer be liable for any direct, indirect, incidental, consequential or other loss or damage arising out of the use of the information in this document by any person, regardless of whether or not informed of the possibility of damages in advance. Thank you for your attention to this message.
All Rights Reserved. No part of this publication may be reproduced in any form or by any means, including scanning, photocopying, or otherwise without prior written permission of the copyright holder.
Copyright © 2014 by Noah Daniels
Introduction
What is a short sale? You have probably heard this term used frequently lately and have no idea what it means. A short sale is a type of real estate investment that flourishes in a down market. Right now, most of the United States is in what is known as a buyer’s market. This means that there are more homes on the market for sale than there are buyers. When supply exceeds demand, the prices drop.
This is not the case in all areas of the United States. In some still coveted areas, the supply of home has not exceeded the demand and the housing values have stayed the same or even appreciated. For the most part, however, the residential real estate market has crashed. States such as Florida, California and Nevada have an influx of foreclosures. In many areas of Florida, short sales are the normal financial transaction for a real estate closing.
Many people are under the misconception that a short sale is only something that can only take place when someone is entering into foreclosure. It is important to realize that not all short sales are foreclosures or close to being foreclosed upon.
There is another misconception that you have to pay cash if you are buying a short sale property. Again, this is false information. You can finance a short sale property, but you have to be ready to buy the home in a short amount of time. In other words, there can be no financing contingencies on the real estate contract. And you will have to show proof that you are able to make this purchase either with cash or with approved financing.
Some people think that all short sales occur in blighted areas. Again, not true. As a matter of fact, most short sales in some states are in upscale neighborhoods.
Short sales are all different. Each person who is seeking to sell their home and is willing to go for the short sale deal has a unique situation. There is one constant with all short sales, however. This is that all of the owners of the property owe more money on the property than the property is worth. This is the constant and what makes them a short sale client.
This book will teach you not only how to find short sale clients, but also how you can negotiate with them, different financing options, how to get partners to invest, what type of documents you need to facilitate the short sale and even title issues that you should be aware of before you purchase a house “as is.” Everything that you need to know about a short sale is found right here in one book.
So sit back and relax and get ready to learn everything you ever wanted to know about the short sale.
What Is A Short Sale?
What is a short sale? The short sale normally occurs when a home owner is about to go into foreclosure. They may be desperate to sell their homes and are doing everything that they can do to get rid of the home. They actually owe more money on the house than the house is worth and are anticipating having to bring a check to the closing. This is not something that they want to do, but nor do they want to go through the trauma of foreclosure.
A foreclosure occurs when a mortgage company comes in and takes a house back from a borrower who has defaulted on his or her mortgage. The default is usually the case of them not paying their mortgage payment. Generally, mortgage company will begin foreclosure proceedings after a borrower has not paid their mortgage for two months.
Prior to the foreclosure, the homeowner has a chance to stave off the proceedings. They can, and usually do, try to work things out with the mortgage. The mortgage company will usually work with homeowners who may be facing tough times due to losing a job or some other catastrophic event, such as illness. In some cases, the mortgage company will suspend payments for a couple of months or ask that the borrower only pay interest. Sometimes this works to pull a borrower out of trouble, but it is usually stalling the inevitable.
The lender will stave off the short sale if the property is on the market. This may be able to buy a borrower a bit more time so that they can sell the house. In order for the short sale to work, the owner of the property has to be willing to walk away from the deal without any money. They will not be taking a check with them to the closing nor will they be getting a check from the closing. They will simply hand over the deed and the keys and the house will belong to the short sale investor. This is the only way for a true short sale to work.
Why would any home owner allow this to happen? Because they owe more on their property than what the property is worth. There are a variety of different reasons why this can happen. They are as follows:
They purchased a home during the boom and the house actually depreciated in value;
They have been behind in their mortgage payments and the loan is now backwards;
They have refinanced and borrowed against their equity to the point where there is not more equity;
When this occurs, the borrower often finds that they owe way more than the home is worth. The instinct is to just let the bank take it, but many borrowers do not want to go through the trauma of foreclosure and do not want to see this on their credit history. A foreclosure takes a big hit on the credit history of anyone who goes through it. It is much easier if you can sell the house by conveying it with a deed than having the bank take it. Your credit history will still reflect that you were behind on your mortgage, but the loan will be written off thanks to the negotiating powers of the short sale representative.
