A short sale occurs when a homeowner owes more on their loan than a property is worth. In this situation, a short sale real estate agent will talk to the lender to try to get them to accept a lesser amount to close the property.
In many cases, banks agree to short sales to avoid the process of foreclosure. These sales can also help banks retain properties without ending up with deferred maintenance. Check out this video to learn more about short sales.
If you are in a tricky financial situation, it might be time to short sell your home. Find a real estate agent serving Atlanta so you can figure out the best way to sell your property and start improving your finances.
Deciding Whether a Short Sale is Right for You
Short selling a property helps you get rid of it quickly so you can avoid further mortgage payments and move on to the next phase of your life. Use this guide to decide if you should start the process of finding a short sale real estate agent so you can find a buyer fast:
You Can No Longer Afford Your Mortgage Rates
If your adjustable-rate mortgage has suddenly expanded out of your financial reach, a short sale can help you get back on your feet. The real estate agent will work with you to sell your home for less money than you owe on your mortgage and the money from the sale goes directly to the lender. In many cases, the lender will forgive the difference that you owe. If the lender does not forgive the remaining amount, you must pay it.
Your House is Worth Less than Your Mortgage
Sometimes homeowners have no choice but to sell their homes. If you have to sell your home but it is currently valued less than the mortgage, a short sale might be your best option to avoid foreclosure. Talk to a real estate agent about your current situation and he or she will help you decide if the short sale option is the right one for you.
Your Financial Situation Has Changed
Whether you lost your job or are facing high medical costs after an accident, if you can no longer afford your monthly mortgage payments, short selling can help you avoid further financial peril. Find a reputable real estate company to help you sell the home before your financial situation gets any worse.
When you work with a real estate company in Atlanta when you need to short sell a property, you get a caseworker assigned specifically to your case. You can also work with a buyer’s agent, a closing coordinator, and the billing department to ensure that everything goes smoothly and you can sell the property as quickly as possible.
Property Management Services from Realty 1st
Realty 1 st is dedicated to bringing you real estate agents and rental property management services that can help you with every aspect of buying, selling, and owning a home. If you are looking to rent out your home, our property management makes it easier than ever to find quality tenants and to keep them happy in your house.
With these services, you can find a manager for single-family homes or apartment buildings. Our rental property management services can also serve as a liaison between you and your tenants so all of their complaints and maintenance issues are handled smoothly. We can even find tenants for you, take care of property maintenance, and handle evictions so you do not have to do it.
Whether you are looking for someone to manage your rental property or you want to completely sell it, Realty 1 st has some of the most respectable and hardworking real estate agents in Atlanta. Turn to us to handle your property issues so you do not have to get as involved in the process.
How To Rent Out Your Home
If now is not the time to sell your home, you might want to consider renting it out. With the help of a rental property management company, you can find renters for your home who can help supplement your income. Use the following tips to successfully rent out your space:
Find a Quality Real Estate Company
The first step toward successfully renting out your home is to find a real estate company to handle all of the legal aspects of the transaction. You can retain ownership of your property and leave them to handle the logistics of the rental. It is up to you to decide how much of the rental process the company takes on. If you prefer, they can completely deal with the tenants so all you have to worry about is how much you want to charge for the rental.
Clean Up the Property
If you want to get your asking price for your rental, you have to make sure it looks the part. Spend some time cleaning out the property so it looks its best. If you are renting out a furnished place, make sure the furniture is in the best condition and that all of the accessories work well together. The better the interior looks, the faster you can rent out the property.
Decide on a Maintenance Plan
As a landlord, it is your responsibility to ensure that nothing goes wrong on your property. To do this, you must set up a maintenance plan. Whether you want to handle the repairs on your own or you want to leave it to the rental property management company, it is important to decide before you find a renter to live in your home.
Working with a real estate company in Atlanta helps you figure out the best way to rent a property. Once you make a connection with a reputable company, they can continue to help you for as long as you want to rent out the home. If you ever decide to sell it, you can easily find a real estate agent with which to work.
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When you’re in the market for a new place to live, one question often looms large: should you rent or buy? Real estate agents and Atlanta-area property management companies can lay out all of your options for you. This video will also help you decide what your best choice is.
Your financial situation is one of the biggest factors to consider when you’re deciding whether to rent or buy. If coming up with a down payment or having enough money for home maintenance is an issue, renting could be your best choice. If those concerns aren’t an issue, contact real estate agencies to see what is on the market in your area. You should also consider things like how long you plan to stay in a property and whether you’re ready for the commitment of owning a home. Be sure to also check with a real estate agent about closing costs and property taxes in your area and to factor those into your budget.
When you’re ready to move, selling your home isn’t your only option. Renting out your current home lets you relocate while using your former home as an extra source of income. Which option is the right one for you? Start by finding a real estate agent near Atlanta who can help you understand the market and how property management works. As you weigh up your options, here are a few factors to keep in mind.
Is Your Move Permanent?
If you know that you’re only going to be moving away for a few years, renting out your house can save you time and money in the long run. You’ll earn rent on the property and avoid the hassle of trying to find a new home when you return to the area. However, if you’re moving away for good or relocating in the same town, selling your home could give you a large lump sum immediately to invest in a new property.
Are You Prepared To Be a Landlord?
As a landlord, you’re responsible for repairs and maintenance on the property, so these costs should be factored in when you’re considering how much you can make in rent. You are also responsible for everything from screening tenants to adhering to local rental laws. A rental property management company can handle many of these responsibilities on your behalf, but for some people, simply selling the property and moving on is more appealing than taking on the role of landlord.
Is Your Home in Good Condition?
If your real estate agent has told you that your appliances need to be updated or repairs need to be made to make your home competitive on the market, then renting the property could be a good solution. Renters are more likely to accept outdated appliances and minor flaws since they are not making a long-term commitment to the property. A property rental company can help you set a realistic rent rate for your property’s condition. If you’re still interested in selling, ask a real estate agent to help you weigh up the cost of modernizing and making repairs.
What happens when unexpected circumstances mean that you need to sell your home fast? A short sale could be the answer. With a short sale, you can get out of your home for less than you owe on your mortgage. There are several advantages to this kind of move, but it’s crucial to work with a short sale realtor serving Atlanta so you’re protected in the process.
One of the biggest benefits of a short sale is that it helps you get out of debt. If financial difficulties have made paying your mortgage impossible, a short sale will remove that burden from your shoulders. Shore sales also protect you from the stress of foreclosure. With the help of a short sale agent, you can obtain authorization to sell your home for less than the outstanding mortgage amount and move on to a fresh start as soon as possible. If you’re considering this step, talk to a short sale realtor about the process and what to expect so you can determine if this is the right choice for you.
Tips for Selling Your Property
When you’re selling your home, anything you can do to make it stand out in the market will bring you closer to a sale. For starters, trust the advice of your real estate agent serving Atlanta . Real estate agents know their markets and understand what buyers in their areas are looking for. If you want to cash in on a fast sale with your home, keep these other tips in mind.
Boost Your Online Presence
Buyers are turning to the internet in increasing numbers to check out available homes, so having an online presence is a must. Work with your real estate agent to create an online profile of your home that includes multiple pictures—buyers are much more likely to view a listing if it has at least six pictures than if it has fewer. Be sure to also include relevant information about your property, like square footage and school districts, to make your listing as compelling as possible.
Stage Your Property Inside and Outside
Real estate agents have long recommended that sellers turn their homes into blank canvases, so buyers are better able to picture themselves in the property. This means painting your brightly colored walls a neutral color and boxing up most of your personal items. However, while indoor staging is important, don’t overlook your outdoor area. Clean up your landscaping and listen to your real estate agent’s advice about repainting your house. Buyers love the idea of outdoor entertaining, so set up a seating area in your backyard to show them how the space can be used.
Open Up to Viewings
If you make it difficult for buyers to view your property, they will move on to the other homes on the market. Work with your real estate agent to provide flexible hours for viewing your home. Be prepared toaccommodate last-minute showings so you don’t miss an opportunity to open the door to the perfect buyer.
The Steps of Choosing Tenants for Your Rental
When you own a rental property , choosing the right tenants is the key to your success. One of the best indicators of prospective tenants’ abilities to pay is their credit score. Watch this video to learn how to obtain credit scores for prospective renters.
Start by getting applicants’ permission to check their credit. You’ll need a signed release form that you will keep on file. Pull reports from all three credit agencies. There is a fee for checking credit, which you can pass along to prospective tenants as an application fee.
You can also hire a real estate agent to handle this task for you. An Atlanta-area rental property management company can process applications, collect rent, and more. Real estate companies also have real estate agents who can take care of property maintenance and eviction issues.