Talk to a Lender Before You Sell Your Home

If you're looking to sell your home quickly, and for top dollar, the best thing you can do is to be able to offer your buyers some sound financing options. That's why developing a relationship with a lender can be the key to a quick sale, and to more money at closing.

Some of your potential buyers will have already gotten themselves preapproved with a lender, but many won't, and being able to offer financing options will open up a number of possibilities for selling your home. The easier you can make finding a loan for your potential buyers, the better your chances of selling your home.

Find out what type of loans are available at your local lending institutions, and what kinds of programs they can offer buyers. Ask about income qualifications, credit scores, down payment requirements, both for buyers with good credit and for those whose credit is less than perfect. Ask if the lender will allow you to contribute to the buyer's closing costs.

Get an Accurate Appraisal

If a banks or mortgage company uses in-house appraisers, it can sometimes cost you a considerable amount of money at closing. For instance, my husband and I once allowed buyers to use their own lender and ended up netting $13,000 less because of a low appraisal. We discovered later that the bank was known for understating appraisals.

Don't sign a sales contract contingent on the appraisal of a buyer's lender; draw up your sales contract with a firm price and then give the buyers a specific time to arrange financing, based on that price. You don't want to have to lower your sales price to reflect a lower appraised value. Make sure that your lender's appraisers consider properties sold, but not yet closed and competing listings of similar properties when doing their appraisals, and not just past sales, because past sales alone may not give an accurate picture of your home's true market value in a fast-moving market.

Even if buyers say that they are prequalified through a lender, it's worthwhile to explain that your lender may be able to offer better financing, and that you're willing to pay a certain portion of their closing costs for them if they'll use your lender.

Having a relationship with a lender who is willing to help your buyers finance your home will give you an edge on your competition, and will go a long way toward selling your house quickly, and for top dollar.

(c) Copyright 2004, Jeanette J. Fisher. All rights reserved.

Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhouse fordollars.com/pages/5/index.htm

---

The Psyche of The Seller and The Tenant Buyer

For those of you who were not psychology majors the... Read More

Buying A Home ? What Is That Noise!?!

You've found the perfect home, closed escrow and just finished... Read More

Buy to Let Property Investment

In recent years buy to let has been a popular... Read More

Pricing Your Property

A house properly priced is half sold. But there are... Read More

How to Decrease the Value of Your Own House

Owning a house is part of the American Dream. Depending... Read More

Where Does Your Real Estate Commission Fee Go - Why is The Commission so HIGH?

Many who have bought and sold properties through Realtors numerous... Read More

Why Use a Property Manager?

Most experienced property investors use property managers. Why? Because they... Read More

Investor Banned From Offering Property For Rent

Do you realize that you might be prevented from renting... Read More

Real Estate Business

Starting real estate business is not that simple. Multiple aspects... Read More

Home Inspections or Home Warranty?

Homebuyers are a curious lot. They routinely ask thought-provoking questions.... Read More

Real Estate Negotiation Secrets

When you bought your home, you offered less than you... Read More

Investment Real Estate -- A New Twist: Be the Bank, Not the Landlord, and Get Rich Without the Work!

I was a landlord for a decade, and I believe... Read More

Conventional Financing For Wholesale Deals

This info is very important for both new and experienced... Read More

The 21st Century Way To Build Equity

Here to stay and firmly established in the U.S. mortgage... Read More

Taxes When You Sell Your Home

What's the difference between death and taxes?Death doesn't change every... Read More

Invest In Real Estate - But Where?

Where should you invest in real estate? If you know... Read More

Purchase Your First Home with Confidence

If you are making the transition from renter to homeowner,... Read More

How To Buy Property in Spain Safely

Buying property abroad is not an undertaking one should embark... Read More

How To Build A Million Pound Property Portfolio

Looking to quickly build a million pound property portfolio? You... Read More

Real Estate Investing with No Cash and No Credit

Lots of folks think it can't be done.How in the... Read More

How To Get The Best Rental Accommodation In The Area By Using Your Capital

My report is for you to use your power to... Read More

Real Estate Investing ? The First House Purchase

Real estate investing usually begins with the purchase of a... Read More

Selling a Home ? What Personal Property Stays?

The home selling and buying process can be confusing, particularly... Read More

Buying Land Online

In the old days people generally only bought land and... Read More

Realty Agents: Don?t Ask Don?t Tell?

Real estate stories radiate from the water cooler and cocktail... Read More

Wealth Building ? An Advantage of Home Ownership

As you grow older, the issue of wealth building comes... Read More

Do You Speak Real Estate?

Anyone interested in real estate should be able to talk... Read More

Renting a House

Renting a house or a room in your home is... Read More

Much Ado About Mansionization?

Is there a perpetual shadow hovering over your house? Do... Read More

Is An Old Home for You? ? The Pros

If you prefer a home that is unique and has... Read More

Location, Location, Location

Location, location, location - known as the 3 most important... Read More

One Stop Shop for Buy to Let

As the buy to let market continues to go from... Read More

10 Important Tips to Successful Real Estate Investing

When it comes to investing, everybody has certain goals and... Read More