Land Loan
E-Z No Qualify Private Money Construction Loans | Owner Builder | Construction Loan | Spec' Home Loan | Home Completion | Custom Home Loan | 1 to 3 Year Term | E-Z Loan package No Qualify "Private Money" Owner Builder, Construction & Custom Home Financing Loans Borrow $100,000.00 to $750,000.00 for 1-2-3 Years All over Northern California E-Z No Qualify "Construction loans" E-Z No Qualify "Owner Builder loans" E-Z No Qualify "Home Completion loans" E-Z No Qualify "Spec Home loans" E-Z No Qualify "Custom Home loans" E-Z No Qualify Loans "No FICO scores needed here" No Appraisal Fees (in Western Nevada County only) No Prepayment Penalties No Up Front Loan Processing Fees No Credit Report Fees No Income Documentation Tentatively Approve Yourself Now! (Northern California only ) Tired of the endless aggravation,frustration, verification and months waiting for a bank to fund your construction loanneeds? Apply online in one minute right now! or see answers to callers most frequently asked questions Brad Evans Real Estate Loans, Grass Valley, California 95945 Tele: 530-272-5916 in northern California only PLEASE! Why not pre approve yourself tentatively "online"right now for an E-Z Construction Loan of up to $750,000.00! Whether you want to buildyour dream home, build a four-plex, remodel your existing home, build 5 spec homes or just add on a den, It's EASY! Because privatemoney E-Z Construction Loans are approved primarily based on real estate equity thosein need of a loan can cut through all that usual red tape you used to haveto deal with in order to obtain construction financing! It's easy to tentatively approveyour loan needs online right now to build a new home, borrow to finish anunfinished home, land or other real estate paid for or not, completed ornot, or at any stage of construction! (some restrictions apply) E-Z(2 minute) online application! E-Z one page loan package References& Testimonials ReadYour Loan Approval Letter Now! Freehouse plans (some restrictions apply) E-ZLoan Rates (in Ca.) Faxyour E-Z application Whatthe heck is "Subordination"? Whatthe heck Is "Hard Money"? Answersto "Frequently Asked Questions" LoansOutside California, click here! 100%Construction Financing is possible? OwnerBuilder Center The3 steps to obtain your E-Z Loan! Mainmenu Sendus some © 2000 Brad Evans Award winning page by Motherlode Media CA Dept. of Real Estate, Real Estate Brokers license #00426805 DRE file #92-880 (CA Dept. of Real Estate, Tele: 916-227-0864)
Denver Real Estate Site
Loan Application Loan application Common Mistakes to Avoid Home buying mistakes can be avoided, you need to know what some of them are. Getting a Loan Follow these steps prior to applying for your home loan. The Mortgage Loan Application A few minutes of preparation can save you hours of hassle, here's the list of what you will need. Interest Rates Lock in your rate with confidence, after you have read these facts. Loan Approval What constitutes as loan approval in Denver? Earnest Money Why is it necessary to pay earnest money before I buy the house? Closing Costs Home buying costs vary by region, here are sample costs for Denver. Down payment for a mortgage Learn about the various allowable sources to obtain your down payment. What is PMI? PMI, do you really need it? FICO Scores FICO scoring is a standard, you need to understand the basics to protect your credit! The steps to getting a VA Loan The steps to getting a VA loan, do you need one? What does it take to get one? Reverse Mortgages Reverse Mortgages have many benefits for older home owners. Financial Glossary It's important to understand the language of finance. search Denver Real Estate Site Loan Application No one likes surprises (except on birthdays and Christmas!) By looking the at the attached loan application you can determine what information the lender is going to require of you. Loan Application HINT: if you plan on printing it out, legal size paper is what you need. Of course it is a "government document" what else would you expect??? :) Using my handy Loan Application Checklist will help to organize the documents you need. A Word or two of caution: When transmitting personal information over the Internet, be sure you know who you are sending it too. Shady folks are always thinking up ways to be evil...mailing the application, faxing or better yet hand delivering to a trusted, local lender is best. Continue to Steps to a VA loan . [ Click Here for More ] Home Buying Directory Buyer Broker Down Payment How to Qualify for a Mortgage Loan Application Locking in Interest Rate Earnest Money Loan Application Checklist Fico Scores Moving List Moving Pets What is PMI? Finance Glossary Financing Your Home Reverse Mortage Home Buying Process Closing Costs Kristal Kraft , ABR, CIPS, CRS Licensed real estate broker selling Colorado Since 1984 The Berkshire Group Realtors, Inc. 3801 E. Florida Ave, Suite 502, Denver, Colorado U.S.A. 80210 800-319-7738 toll free | 303-589-2022 direct | 720-554-7961 fax E-mail: Kristal Kraft, Realtor 1998-2005, © Reflective Motion Inc. | Privacy Policy | Site Credits | Disclaimer | Site Map ~2 ~3 ~4 Denver Relocation | Buy a Home In Denver | Sell a Home in Denver | Denver Map | Denver Neighborhood Profiles | Denver Sales Statistics | International Real Estate | A Bio | My Favorite Places | Real Estate Resources Denver Loft Homes | The Berkshire Group | Buy and Sell Denver | We Sell Denver | Denver Colorado Real Estate | Denver Blog
buy property with the
Advice for buying and reselling for a profit. - Oct. 14, 2004 Web CNN/Money Buying & Selling Investment Property Home Improvement Million $ Life Financing Best Places The art of the flip A new reality television show will follow real estate speculators as they buy, fix and "flip." October 14, 2004: 2:24 PM EDT By Sarah Max, CNN/Money senior writer SALEM, Ore. (CNN/Money) It's one thing to buy a house to call home. It's quite another to buy property with the sole purpose of turning around and reselling for a profit. It's called flipping, and in the coming months, a dozen aspiring real estate investors experience this firsthand -- on camera, no less -- as they attempt to buy, remodel and sell property within a period of six months. Flipping is the subject of an upcoming reality television series with the working title "Property Ladder," scheduled to appear on The Learning Channel in May 2005. "Everyone you talk to seems to know someone who has tried to flip property," said Char Serwa, the show's executive producer. In California, where most of show's subjects are buying, 2.6 percent of all houses sold during the month of May were owned for less than six months, according to DataQuick Information Systems, up from 1.9 percent the previous year. There are several varieties of flipping, said William Bronchick, author of "Flipping Properties." One is rehabbing, which is the focus of the show. Other flippers buy property that's in foreclosure or under construction and try to resell the property to other investors. "We're not advocating that people do this," added Serwa, explaining that each homeowner's story will be told in an individual episode, detailing the experience from purchase to sale. "This is truly an observational documentary," she said. "It's real life." Indeed, the homeowners featured on the show are not only footing the bill for the property and the cost of renovations, they're managing the projects on their own. Unlike other TLC makeover shows, seasoned carpenters and designers won't be pitching in to help. QUICK VOTE Have you ever bought real estate solely as an investment, and not to have a place to live? Yes No View results What the show's subjects do get is advice from host Kirsten Kemp, an actress, real estate agent and seasoned property investor. Whether the homeowners actually take that advice is another story. Viewers, meanwhile, may likely learn a few lessons as well, namely that buying, remodeling and selling property is hard work particularly when done in a matter of months. "A lot of things can go wrong," said Kemp. It's also financially risky. A slowdown in real estate means little to a homeowner settled in for several years, but it can be devastating if you're banking on selling for a quick profit. Buy it, fix it and sell it. Kristen Kemp, host of TLC's 'Property Ladder,' shares tips on flipping properties. Play video (Real or Windows Media) Factor in the transaction and renovation costs and there may be little profit at all. Any profit you do make, mind you, will be taxed at ordinary income if you sell in less than a year, noted Ron Phipps, of Phipps Realty in Warwick, RI. In seven years, Kemp flipped 40 properties, not always successfully. "I made money about 70 percent of the time, and 30 percent of the time I broke even or lost money." Here's a sneak preview of some of the lessons Kemp hopes to bring home. Leave your emotions at the front door When shopping for investment property, you want to find a house that tugs at you emotionally, said Kemp. If a house rouses your emotions, chances are it will do the same for future buyers will as well. When it's time to make an offer, however, your emotions cannot get the best of you. "You make money flipping in part by buying low," she said. "The people who say 'I just have to have this house' are the ones who overpay.'" Don't overdo it when renovating See the average cost for 15 common projects and how much they can add to the value of your home. Type of project: Bathroom Remodel - Mid-Range Bathroom Remodel - Upscale Bathroom Addition - Mid-Range Bathroom Addition - Upscale Maj. Kitch. Remod. - Mid-Range Maj. Kitch. Remod. - Upscale Master Suite - Mid-Range Master Suite - Upscale Family Room - Mid-Range Deck - Mid-Range Basement Remodel - Mid-Range Siding Replacement - Mid-Range Window Replacement - Mid-Range Window Replacement - Upscale Attic Bedroom - Mid-Range Average job cost (2003 Natl Avg): $ What will you get back? % Cost recovered % Value at sale $ Get your local results from Remodeling Online's 2003 Cost vs. Value Report "This is not the time to create your dream house," said Kemp. "You don't want to fix the property to a level that is not necessary." This is a dilemma many first-time flippers struggle with. On the one hand, they want to do a good job on the renovation. On the other hand, they don't want to put money in expensive light fixtures or elaborate built-ins if they aren't going to recoup the time or money they spent. That said, you don't want to cover up serious problems with a new coat of paint or a well-placed picture. "You want to attack anything thing that would be a red flag at closing," said Kemp. DIY when it makes sense The more work you can do yourself, the more money you'll make on the flip, said Kemp. Still, even do-it-yourselfers need help sometimes. Develop a list of reliable contractors, plumbers, electricians, drywallers and other experts to call on. Kemp, for one, says she has her own contractor to thank for getting her through many projects. While you're at it, find a good real estate agent, she said. "They can help you understand what is selling and what's not," she said. "They'll do a good job because if they do, they know you are going to list the property with them when you're ready to sell." Price the property to sell You give your blood, sweat and tears to a house, but it's no excuse to overprice it. "I encourage people not to get greedy," Kemp said. In fact, she recommends pricing property a little under market value. "Every day your house is on the market you're losing money." What if "Property Ladder" homes don't sell in time for prime time? That's just part of the story. And in real estate, sometimes that's the reality. --* Disclaimer Try an issue of MONEY magazine - FREE! More on REAL ESTATE • How to buy and build on rural land • Most overvalued housing markets • When booms go bust... TODAY'S TOP STORIES • Most overvalued housing markets • Risks to the economy in 2006 • Which was the worst ad of all in 2005? CNN Money contact us | subscribe to Money magazine advertising -- | site map | glossary | RSS | press room OTHER NEWS: CNN | SI | Fortune | Business 2.0 | Time © 2005 Cable News Network LP, LLLP. A Time Warner Company ALL RIGHTS RESERVED. Terms under which this service is provided to you. privacy policy Reprints of site stories are available.
foreclosure property There are
Is Foreclosure Investing for You? Online Catalog | Shopping Cart HOME | Foreclosure Investing | Short Sales | Articles | Financing | Commercial | Mobile Homes | Cash Flow | Legal | News Group CRE Online > Money-Making Ideas > Is Foreclosure Investing for You? Is Foreclosure Investing for You? by Ronald Starr If you are new to real estate investing and considering buying foreclosure properties, you need to be realistic about what you are facing. If you feel more sober about foreclosure investing after reading what I have written below, I will have accomplished my goal. Foreclosure investing is not a good investment approach for beginners. I recommend that you have at least a couple of years' experience with more traditional real estate investing first. The profits from foreclosure investing can be huge. That makes foreclosures attractive. There is an awful lot to know in order to avoid the problems that can occur. If you don't know what you are doing, one disastrous foreclosure investment can wipe out your capital and your enthusiasm for all real estate investing. Three ways to buy a foreclosure property There are three basic approaches to buying properties in foreclosure depending on the stage of the foreclosure process: buying pre-foreclosures, buying at the foreclosure auction, and buying from lender after the foreclosure sale. If you buy from the delinquent property owner before it goes to auction, you have bought a pre-foreclosure deal. Buying at the auction is self-explanatory. If nobody bids, the lender ends up with the property. Buying from the lender after the auction is called buying REOs (real estate owned) or Repos, (repossessions). Sometimes you will see them referred to as "corporation owned" or, my favored term, "lender owned." REOs are the least risky way to buy foreclosures You may have more risk than you would in a regular real estate transaction, but REOs are less risky than in buying at the auction. Since REOs are somewhat similar to a regular sale, they can be pretty safe. You might not get a seller's disclosure. In California, a lender who acquires a property through foreclosure does not have to offer a disclosure to you as a buyer. But, if there are problems after you buy the property, you might be able to sue the lender who sold you the property, or at least threaten to sue them, and they might make things right or pay part of the cost. There's a good chance they will still be around after the sale. The risks of buying pre-foreclosure real estate The next riskiest foreclosure purchase is the pre-foreclosure. If an owner of a pre-foreclosure disappears, you risk not getting anything from him after the sale. A pre-foreclosure seller might be desperate and lie to you about the condition of the property and the neighborhood. There might be liens on the property that the seller "forgot" to mention. The big utility bills become the buyer's responsibility if the pre-foreclosure investor failed to check them out. Ditto for unpaid property taxes. There may be another person on title who did not sign the deed, and so on. In California and, I believe, some other states, there are special laws related to dealing with and buying a property from a homeowner occupant who is in default on a loan. If the contracts and the sale are not done according to the law, the seller has the right to rescind the sale and could, long after the sale, sue to have the sale reversed. There are extreme penalties for violating the law. Remember, "Ignorance of the law is no excuse." You need to know the state law when you do pre-foreclosure investing. Can the seller can legally deed the property to you? What if the seller is already in bankruptcy? The deed is likely not valid unless it has gone through the bankruptcy court. You have to call the local bankruptcy court to check for a possible filing. And, of course, the seller could have filed bankruptcy in another bankruptcy court that you did not call. And, even if the seller does not file bankruptcy until after your purchase, you may have to deed the property back to the seller up to three years after you bought it. If selling the property made the seller destitute, and the seller sold for much below market value--which you hope he did so you could make a good profit--the bankruptcy trustee can require you to deed the property into the bankruptcy estate on the grounds that the sale was a "fraudulent transfer," wherein the seller deprived his creditors of an asset which could help pay the debts. At that point, you become a creditor of the bankruptcy estate. Is this really what you planned when you bought the "great pre-foreclosure deal"? A lot of pre-foreclosure buyers may forego some of the inspections because they are hurrying to buy before the foreclosure auction. Sometimes the buyers will give money to the owner, get a deed, and record the deed themselves in the land records office of the county. The pre-foreclosure buyer has to be very alert to a lot of possibilities and check them out. You must have superior knowledge of real estate investing before you start doing pre-foreclosure investing. But, if you sign a proper sales contract with the owner, get appropriate inspections, go through an escrow with a knowledgeable escrow agent, and look at the property yourself, you probably will not be at great risk. If you use the safeguards above, you are going to have less risk than in most foreclosure auction buys. The risk of buying at the foreclosure auction Buying at the auction is the riskiest foreclosure purchase. At the auction you have no real estate agent to lead you through the process. You have no escrow and no title report let alone title insurance. In most jurisdictions it is an all cash sale. In some states you may have a week to a month to come up with the full purchase price. If you do not raise the money, you lose your deposit. At the auction the people conducting the sale will announce that the successful bidder will receive NO WARRANTY OF ANY KIND. You have no assurance that there are not other liens or loans on the property. You do not have any inspections by contractors, roofers, pest inspectors, building inspections, water well, or septic system experts. You get no disclosure from the seller as to the condition of the building or what is happening in the neighborhood. Usually you cannot see the inside of the building; perhaps not even the back of the outside. You know nothing about the electrical system, the plumbing, the heating, or air conditioning. If you buy an occupied property, you have to do an eviction, which, in some states, can drag out for a while, preventing you from getting into the property quickly to prepare for resale. Sometimes the occupants, if they are former owners, will vandalize the properties before leaving or steal items, such as cabinets, doors, fixtures, lamps, etc. If you are buying to resell the property quickly for a profit, you had better know if your buyer can readily get title insurance when buying your foreclosed-upon property. When you get a very good deal at a foreclosure auction, you may find that the former owner files a lawsuit to attempt to overturn the sale. So be prepared to hire an attorney and fight for your profit. Experience and knowledge build your foundation Now do you begin to understand why I recommend that beginners not start investing in foreclosures? Start with simpler buying approaches and get some experience with properties, laws, ordinances, deeds, and loans, and so on to provide a foundation. Learn to do title searches as fast as the professionals. Get to know intimately the government offices that have property records and tax assessment rolls. Get to know the property values in an area where you invest. Learn about the problems with properties in different neighborhoods, such as bad soil, poor construction in certain subdivisions, problems with septic systems and wells, and soil contamination. When you have learned all that, start studying up on foreclosures. Study the foreclosure laws in your state. Study law books on the priority of liens, bidding at auctions, title insurance, and bankruptcy. When you fully understand foreclosures, start buying them. I am not trying to stop you from investing in foreclosures. They can be profitable for those who can practice it well. But, few beginners can do it well. I'm telling you to be realistic and get the background that will allow you to be successful in foreclosure investing. The field is rife with risk. You can easily lose your whole investment if you make a single mistake. Please believe me, even with all my years of real estate investing experience, it has happened to me. Good Investing, Ron Starr MORE INFORMATION More on this topic... Customers also bought...
Selling Home
Preparing Your Sellers for Home Showings - Real Estate Agent Tips You are here: About > Home & Garden > Home Buying / Selling > Real Estate Careers > Presentation Skills > Listings > Preparing Your Sellers for Home Showings - Real Estate Agent Tips Home & Garden Home Buying / Selling Essentials 10 Things Home Buyers Shouldn't Do Best Tips for First Time Home Buyers "Must-Do" Tasks Before You Sell How to Buy a Home, Step by Step For Sale by Owner Advice Articles & Resources How To Buy a Home How To Sell a House Celebrity & Historic Credit Reports & Scores Design & Remodel Home Maintenance Inspections & Appraisals Investing & Foreclosures Modular & Manufactured Mold, Radon, Lead, etc. Mortgage Advice Moving & Relocation Real Estate Careers Real Estate For Sale Vacation Homes Buyer's Guide Before You Buy Top Picks Home Buying Books Foreclosure Books Mortgage Books Product Reviews Forums Help FREE Newsletter Sign Up Now for the Home Buying / Selling newsletter! See Online Courses Search Home Buying / Selling Stay up to date! Email to a friend Print this page Suggested Reading Interviewing for a Real Estate Position How To Calculate Real Estate Commissions Getting the House House Ready for Showings Suggested Reading Real Estate Appraisal Methods Fair Housing Issues for Real Estate Pros How To Measure a Home's Square Footage Recent Discussions Excellent credit, no savings- help!! Buying an out of state home ? Re-financing... Related Blogs Mortgage Fraud Blog The Real Estate Blog The Money Pit Most Popular Modular and Manufactured Homes Finding Your Best Place to ... Home Buying Don'ts First Time Home Buyer Tips Before You Sell Your Home What's Hot Coping with Unethical People How To Buy Land Real Estate Appraisal Before You Buy a Log Home Package Home Buying / Selling - GuideReviews Related Topics Home Repair Architecture Credit / Debt Management Housekeeping Landscaping Preparing Your Sellers for Home Showings From Janet Wickell , Your Guide to Home Buying / Selling . FREE Newsletter. Sign Up Now! Introduce sellers to the realities of showing their home You've already talked with your sellers about the physical work involved to get a home ready to show, but have you mentioned other events that may take place while the house is on the market? Giving home sellers a basic education in Buyers 101 will help prepare them for the realities of showing their house.
Be Ready to Show at All Times
Sellers should be aware that same-day and even last-minute requests for showings are common, so a seller with a '24 hour notice to show' stipulation often cuts himself out of a good chunk of the buying market. The only standard hefty lag time that should be necessary is when you must give ample notice to a tenant.
Once a house gets tagged difficult to show by agents, you won't receive as many calls to show it. If sellers choose to make showings difficult, be sure to tell them now that it will cut down on showings--and fewer showings equals fewer potential buyers.
Keep it Flexible
Explain to your home sellers that most agents do try to arrive within the scheduled showing time, but sometimes it isn't possible. They may get stuck in traffic, or the house they saw prior to your showing took longer than expected. It happens, and sometimes it happens too late to be fixed by a phone call.
Encourage sellers to stay away from home a little longer than they think is necessary, just to make sure they don't interrupt a showing.
Sellers Who Want to Be Present
This is nearly always a bad idea. Sellers think agents and buyers won't be able to find everything, that they must be there to point out important features. Truthfully, most just want to be present to see buyer reaction firsthand.
Sellers should be aware that at the very least buyers feel uncomfortable when they are present, and that it can actually kill a sale. Buyers often won't even open closet or cabinet doors when the seller is home, and when they cannot view a house comfortably, they'll hurry up and move on to the next one.
Sellers want to talk, and not just about the house. You never know when a buyer will be turned off by the mood of the seller, or by a statement the seller makes. Buyers are there to look at the house, not chit chat about hobbies or the weather or worse--politics and other controversial topics.
If sellers must be home during a showing, counsel them to go outside or stay put in one location, not wander around with the agent and buyers.
Sellers Who Want YOU To Be Present for All Showings
If you're selling a large estate or complicated property, it might be the norm to plan on being present for all showings, but it's not necessary or smart for the typical house.
Explain that other agents generally feel uncomfortable with the selling agent hanging around, listening to and participating in conversations with potential buyers. If the other agent is representing the buyers as a buyer's agent, she won't be free to have open discussions about the house in front of you.
There's another negative that may be more important: busy agents don't have time to work around your schedule. Requiring the listing agent to be present for all showings is another way to give the house that difficult to show reputation.
If your sellers are worried about theft of small items, they should store them away . Packing up collections and small personal items is part of the process they should have already gone through to prepare the house for showings .
Pets Must Be Controlled
Pets should be out of the house during showings, especially large dogs, since many people are afraid of them. A gruff bark coming from inside the house is enough to make some home buyers turn around at the front door.
If there are pet odors, talking with your seller about the subject can be tricky, because most people are not aware of odors in their own home. You may need to conjure up your best be-tactful mode to deal with that subject, but it must be dealt with. Your sellers don't want buyers to remember the home as the house that smells .
Gaining Seller Cooperation
Share showing information in a 'did you know this about buyers' tone, rather than simply telling a seller what he must do. Explaining why these steps are important helps sellers realize that it's in their best interests to comply.
Consider putting showing advice on paper in an easy-to-read format. Give the seller a day or so to digest the information, then ask if he has any questions about the information.
Show that you respect the seller's opinions by asking what he thinks are the home's best features, then spotlight those features in a flyer or brochure that can be left on a table for prospective buyers.
Sellers usually just want to help. It's up to you to figure out a way to give them a role in the sales process, one that is truly helpful and that won't have a negative impact on showings. Important disclaimer information about this About site. Topic Index | Email to a Friend Our Story | Be a Guide | Advertising Info | Work at About | Site Map | Icons | Help User Agreement | Ethics Policy | Patent Info. | Privacy Policy | Kids' Privacy Policy ©2005 About, Inc., A part of the New York Times Company . All rights reserved. Around About Oprah's Life Vacation Ideas Shop Safely Online VIDEO: Craft Rooms VIDEO: Christmas Traditions What's Hot Coping with Unethical People How To Buy Land Real Estate Appraisal Before You Buy a Log Home Package Home Buying / Selling - GuideReviews