Pensacola Real Estate

There is help for Desperate Sellers!

No doubt this is a troublesome market for many homeowners. The question often arises "what do I do when I can't make a payment or I get behind on my payments?" First of all...don't wait and to nothing. Doing nothing will definately increase the intensity of the situation. 2nd, call your lender and tell them what is going on. They are in this too and may have a way out for you. 3rd, If you have income and are able to construct a plan to catch up, present the plan to your lender. 4th, Expect the unexpected! Lenders will sometimes surprise you with what they will do. Don't give up, there is help out there but you have to be ahead of the curve to really get the best out of your lender! If you need to sell you house contact me today. I am in the business of selling property and will help you get it done!   

Estimating Net Proceeds…What will you take away?

Once you’ve been given an estimate of the market value by your Realtor, you can get a rough idea of how much cash you might walk away with when the sale is completed. This can be particularly useful when you start looking for another home to buy. Every realtor should be willing to provide you an estimate of net proceeds. This is a very important part of the selling process.

This is how to figure your net on your own. To estimate your net proceeds, from the estimated sales amount, subtract the applicable costs in the three sections outlined below: seller’s costs, buyer’s/seller’s costs and closing costs.

Seller’s Costs: Subtract the following costs as applicable.

·        Payoff of your current loans

·        Broker’s fee

·        Prepayment penalty if any

·        Attorney’s fees or title company fees

·        Unpaid property taxes

Buyer’s/Seller’s Costs: Your Realtor can tell you whether local customs or rules dictate whether the buyer or seller pays for the items listed below. Subtract the following costs as applicable.

·        Title insurance

·        Transfer taxes

·        Survey fees

·        Inspections, repairs, etc.

·        Recording fees

·        Homeowner association fees

·        Home Warranty

Closing Costs: As far as closing costs are concerned, you and your eventual buyer may agree on any arrangement that suits you. Everything is negotiable. Remember, your net will vary depending on the final purchase price. Price your property according to market selling value and not only will it be more likely to sell, you will be more likely to take away more proceeds from the sale!

Pricing your house to Sell...CMA or Appraisal

Price against Comparable Sales in Your Neighborhood! No Matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay in the past few months, (the past 30 days in our market) in your neighborhood. Your Realtor can furnish data on sales figures for those comparable sales and analyze them to help you come up with a suggested listing price. The decision about how much to ask, though is always yours. A CMA, Comparative Market Analysis is a list of comparable sales your ATR Realtor brings to you, along with data about other houses in your neighborhood that are presently on the market. The other option to a CMA is an appraisal. An appraisal differs from a CMA in several ways. One major difference is that an appraisal will be based on past sales. Also, an appraisal is done for a fee while a CMA is provided by your Realtor and may include properties currenly listed for sale and those currently pending sale. For the average home sale a CMA will probably give enough information to help you set the proper price. In addition the CMA can be run frequently to help determine changes in the market. The market we are currently in is changing daily. Having your Realtor run a CMA often will help you know exactly where you are in comparison to other homes on the market. Be prepared to adjust your price as the market changes.