A Look at the Short Sale Process
If you do not know much about real estate in Atlanta , the process of buying or selling a home may feel somewhat overwhelming at times. Fortunately, a short sale real estate agent can help you get through the procedure and be satisfied with your results. Watch this video clip for a quick look at the short sale process.
The short sale process can help you to sell your property at its current market value and in a timely fashion, and it can help you even if your debts on the property are not fully paid off. You may work with an individual caseworker, a buyers’ agent, and other real estate professionals that will guide you as you create a short sale package and list your home. Your short sale real estate agent will also help you secure a buyer and a short lender’s approval so that you can finalize the deal.
Moving into the realm of real estate in Atlanta can be a personally fulfilling and financially rewarding experience, especially when you go into it with the proper skills, knowledge, and mindset. If you are considering becoming a landlord for the first time, be sure to conduct some research so that you are equipped with these tools before beginning the process. Keep reading to learn a few tips for first-time landlords.
Use a Property Manager
When you first become a landlord, you will be charged with the task of finding tenants to rent your property. This may be difficult if you have no prior experience in real estate, but there are options for even the freshest of faces. Consider hiring a property manager to direct attention towards your rental property and find tenants to occupy your house or apartment. Although hiring a property manager may be an expense you had not considered, it is one that will pay for itself over time. You’ll be able to rely on your property management firm to find you tenants and address their needs.
Consider Your Location Carefully
If you are looking to purchase a property to rent, be sure to pay extra attention to location. Beachfront properties with gorgeous views always tend to garner attention, and city apartments keep people right in the thick of the action. Since your rental property is an investment, it is crucial that you consider the prospect of your property appreciating. Stable areas or neighborhoods that are on the rise have a greater chance of appreciating in value over time. Although appreciation is never a guarantee , general inflation may appreciate the values of many different areas.
Account for All Expenses
As the landlord, it is your responsibility to make sure that the property stays in reasonably decent shape. Keep in mind that there are many factors at play in this situation, and not all of them are controllable; you must be able to afford any repairs that your property requires so that you can continue to rent it out.
If you are selling your home, you should make it as attractive and appealing as possible! Potential buyers want to see a clean and tidy home that they can picture themselves in. This is easiest when the home is kept clean and free from clutter that can take away from a space.
As you will see in this video, it is a good idea to start cleaning and caring for your for-sale home as soon as you list it. You never know when potential buyers might drive by, and a first impression can make or break your sale. Make sure your front yard looks great and use paint to touch up any marks or scrapes on your home’s exterior. Work with your family to clean and de-clutter your home’s interior for potential buyers.
A real estate agent can help you figure out what to do to make your home as appealing as possible, leading to the best sales in the shortest amount of time.
Answers to Your Questions About Real Estate
Whether you are interested in buying or selling a home, it is important to know how to get answers to your questions! You are likely to have a lot of questions during this process, but a little research and the right team can help you answer these questions and have a successful experience.
One of the first questions buyers and sellers have pertains to the difference between a realtor and a real estate agent. In order to become an official REALTOR®, agents must meet certain expectations set forth by the National Association of REALTORS®. Another common question asks about the differences between being pre-qualified and being pre-approved. The first simply means a loan officer has helped you figure out what you can spend. The second means a lender has approved your financial situation.
Do you have other questions about real estate ? Working with a professional real estate agent is the best way to get the answers you need to find the home of your dreams or sell your current home for your dream price!
Get Around Your Upside Down Mortage
It is common these days to hear about people who owe more on their house or real estate investment than it is currently worth. This is known as negative equity. A property management company in Atlanta can help determine the right course of action if you find yourself struggling to pay your mortgage and dealing with negative equity. Continue reading to find out more about tackling this issue.
When this situation arises, there are loan programs that may help. If you are able to renegotiate your loan, a lower interest rate may make it possible to catch up on your mortgage payments and avoid foreclosure. Some loan options to check out if you find yourself with an upside down mortgage are the Freddie Mac Relief Refinance Mortgage, the Fannie Mae Refi Plus, and the FHA Insured No Appraisal Streamline Refi. Another choice that some homeowners consider is to return the deed to the lender in lieu of foreclosure.
If renegotiating your loan is not an option, you may decide to rent out your home with help from a rental management company. If you are unable to do this, however, you might want to consider contacting a short sale real estate agent.
The Seller’s Guide to the Short Sale Process
Working with a real estate agent is the best way to navigate through the selling or buying process. These experts can also provide extra support and knowledge when going through the process of a short sale. Check out these tips for getting through the short sale process with your real estate agent near Atlanta:
Learn About Your Options
Is a short sale really your only option? It is a good idea to meet with a real estate agent to learn more about short sales and discover any other options you might have. Some homeowners are able to renegotiate with their lenders and choose a loan modification instead of going forward with a short sale. Even if you decide to go through with a short sale, this step will help you feel more confident with the process!
Get Your Documents in Order
A short sale is different from a traditional sale, which is why your real estate agent should help you determine what documents you need for the process. Your lender will decide what documents you will need in order to comply with their terms for completing a short sale. Lenders typically require homeowners to provide at least a couple of months’ worth of bank statements along with income tax records, a copy of the purchase contract, listing agreement, proof of assets, and a letter detailing their current financial situation which resulted in the need for a short sale.
Once you have completed the steps set in place by your lender, you and your real estate agent can focus on attracting buyers to your home. No matter what type of sale you are holding, it is important to make sure your home is in great condition so that it attracts as many potential buyers as possible. If you are happy with an offer, you and your real estate agent will work together to complete a proposal packet for your lender. If the lender is happy with the packet, you can move forward with the sale.
Owning real estate in Atlanta can yield a tremendous profit. Renting out property requires a certain degree of expertise, however. In order to maximize on the potential of your rental, you will want to make sure that all property-related business is executed in an efficient and timely manner. A management company may help save you a lot of valuable time and energy.
What are the top websites for finding tenants? What kinds of photographs are most likely to attract the kind of prospective renter you are looking for? How much information is too much on an ad? These kinds of questions can be difficult to answer on your own. A rental management company will help fine-tune your advertising process so that your rental is presented in the best light, and all of your properties are filled.
Sometimes, more than a gut reaction is necessary when finding the right tenants. It is important to pay attention to a potential tenant’s credit score, history of litigation or eviction, and income. A rental management company can provide tenant screening to help ensure that rent is paid consistently and reliably.
Whether you are the landlord of a single-family home, a duplex, an apartment building, or a variety of properties, a management company can help make sure your real estate remains in good shape. It takes a lot of time and experience to find the right companies to execute property maintenance and repair. It is also a bit of a hassle to juggle multiple requests for maintenance all at once. Your property management company will already know of reliable local contractors, and will manage maintenance requests for you. When repairs are handled quickly and successfully, tenants are more likely to remain where they are.
Dealing with Evictions
If you find that someone has not paid rent, it may be time for eviction . However, asking a tenant to leave requires a detailed understanding of the lease agreement. Rental management companies have experience with the ins and outs of the eviction process, and will correctly initiate this process on your behalf.