Stop Foreclosure Part 1: 4 Simple Steps You Can Take Right Now to Stop The Sale

Written by John Davis


Continued from page 1

4. Sell your home. I know sometimes this can be a tough decision, because you may have raised your family inrepparttar home or you may have inherited it. However, do not letrepparttar 138994 emotional attachment limit your options. For example, many people are so emotional about their home, they don’t even consider selling until it is to late. I do not want you to have to sell or to find another place, however if you are running out of options, then consider this one. If you are not selling because you feel that you have a lot of equity,repparttar 138995 amount of equity that you truly have is getting lesser byrepparttar 138996 day. Why? Because, it takes an average home buyer a minimum of 30 days to close their loan. The average home inrepparttar 138997 United States will sit onrepparttar 138998 market for an average of 120 days. Which means, on average, it will take you nearly 6 months to sell a home and then when you sell you will not getrepparttar 138999 full amount. Then you have to pay attorney fees, realtor fees, title fees, taxes, and deed preparation fees, not to mention your regular monthly obligations that you have by havingrepparttar 139000 house such as insurance, taxes, and your regular payments. Finally, if you are trying to sell your property, letrepparttar 139001 bank know that you haverepparttar 139002 property onrepparttar 139003 market to sell. If they know you are making an honest attempt to sell and get out from underrepparttar 139004 debt, while paying them off, they will be more willing to work with you. Even if you are not able to receive enough funds to payrepparttar 139005 lien off, letrepparttar 139006 bank know, occasionally they will work around it. If you need help with this, then feel free to vist my website www.48hourclose.com and receive our Free Report on "How To Win The War Against your Lender & Stop Foreclosure!"

Now you can stop your home foreclosure.

Free Report Tells you "How to Win The War Against Your Lender and stop Foreclosure!" at http://www.48hourclose.com

John Davis owns 48hourclose.com: a website devoted to helping families that are facing foreclosure.


"How To Never Overpay for A Home or Real Estate"

Written by John Davis


Continued from page 1

The bank can also forgiverepparttar debt that you owe. You are thinking this would be great – right? Well there is a catch- if they do this they will send you a 1099 forrepparttar 138993 difference for unearned income. I witnessed a seller get a 1099 for unearned income forrepparttar 138994 remainder ofrepparttar 138995 debt that was owed for over $67K!

Many of these scenarios would not happen if people would just not overpay for their property to begin with. What aboutrepparttar 138996 Realtor? I hear you ask. The realtor’s job is to sell houses. That is what they are there for, they sell. They will rely on you and your inspector to look things over. When you go get a loan,repparttar 138997 loan officer’s job is to sellrepparttar 138998 loan to you. When they callrepparttar 138999 appraiser, their job is to see thatrepparttar 139000 appraisal comes in enough to supportrepparttar 139001 purchase price. In some States,repparttar 139002 Law requires for appraisers to even seerepparttar 139003 contract. So,repparttar 139004 appraiser knows up front whatrepparttar 139005 house should appraise at and they will search forrepparttar 139006 comparable home sales that will support your purchase price. This does not mean that your house is worth what they say. I have seen 2 appraisals onrepparttar 139007 same house come back with a difference of over $90K!

So how can you know? Here arerepparttar 139008 steps that I would take: 1.Driverepparttar 139009 neighborhood that you are looking in. 2.Write down allrepparttar 139010 names, addresses, and phone numbers of allrepparttar 139011 properties that are for sale. 3.Find outrepparttar 139012 following: ·The age ofrepparttar 139013 home ·The condition ·The price that they are asking ·How long it has been listed onrepparttar 139014 market ·Feature ofrepparttar 139015 home 4.Go torepparttar 139016 courthouse and look atrepparttar 139017 tax assessor’s value. This is usually a little low but will give you a ballpark figure. Look atrepparttar 139018 other properties tax value and compare them all withrepparttar 139019 amount of land, square footage, buildings, etc. 5.Comparerepparttar 139020 homes torepparttar 139021 one you are looking at. 6.Go in and look at everyone ofrepparttar 139022 homes that are listed 7.Make note of everything thatrepparttar 139023 other homes have that yours don’t. 8.Look at how many daysrepparttar 139024 home has been listed. This part can be tricky. On allrepparttar 139025 data sheets ofrepparttar 139026 homes that realtors list there is a section inrepparttar 139027 top for DOM (days on market) that tells you how long it has been listed. Now, ifrepparttar 139028 seller only signed a 90-day contract withrepparttar 139029 realtor to sellrepparttar 139030 home, afterrepparttar 139031 90 days this number is reset. Point blank askrepparttar 139032 realtor to find out how many TOTAL days has this house been listed. If you see thatrepparttar 139033 home has been listed for over 120 days, there may be a chance that they are asking a little too much forrepparttar 139034 property. So keep this in mind when making an offer. 9.When making your offer, you want to figure in, if you were forced to sell in 6 months, what would you be able to get out ofrepparttar 139035 home? When you calculate this figure considerrepparttar 139036 following expenses: a.4- 6 months of mortgage payments b.4-6 months Utility c.4-6 months of insurance d.6 % commission to a realtor e.Closing Fees f.Advertising Cost if you do not list with a Realtor g.5% - 10% discount. Rarely do people pay full asking price, so count on taking at least a 5% discount.

10.You can also hire another realtor to do a BPO. This stands for Brokers Price Opinion, very similar to an appraisal withoutrepparttar 139037 expense. You typically can get a realtor to do a BPO for $50- $75. When you do this, get a realtor from a totally different organization. Usually Realty companies have 1-2 people allocated to do these BPO’s. 11.Now make your offer according to your research that would support you and your family. I once heard that when you make an offer if you are not embarrassed byrepparttar 139038 offer, you may be offering too much. I don’t know if this is true, however it is something for you to consider and think about when you are constructing offers.

The reason that I wrote this is because I felt obligated, compelled, and duty-bound to offerrepparttar 139039 advice that I have learned from years of buying and selling homes. I have seen good markets and bad markets; these arerepparttar 139040 same methods I use to make sure that I am not overpaying. After I met withrepparttar 139041 lady that over-paid for her property that I mentioned earlier, I felt responsible to educaterepparttar 139042 market on how anyone could easily get into this situation and how you can avoid it with a little bit of research.



Now you can stop your home foreclosure.

Free Report Tells you "How to Win The War Against Your Lender and stop Foreclosure!" at http://www.48hourclose.com

John Davis owns 48hourclose.com: a website devoted to helping families that are facing foreclosure.


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