Eager Lender

Sell house fast is rapidly becoming one of the most frequently searched terms online. With the constant influx of foreclosures, borrowers are frantically trying to find tips and resources to help them sell their house and prevent foreclosure. One of the biggest challenges homeowners face is locating a qualified buyer.

Although many reasons exist to sell house fast, the most common is to stop foreclosure. Mortgage lenders can elect to extend the offer of short selling real estate to borrowers who have fallen behind with payments and owe more than their property is worth.

Short sales can be a saving grace when borrowers are struggling to meet financial obligations. When properly executed, short sales offer benefits to all parties involved. Buyers are able to become unsaddled from the responsibilities of homeownership. Lenders can recover most of their financial investment and buyers can purchase real estate at discounted prices.

The majority of mortgage lenders require homeowners to have a buyer lined up before granting short sale approval. A few banks will allow borrowers to list their property through a realtor and give them a few months to locate a buyer. If the house is not sold within the established timeframe, lenders will commence with foreclosure proceedings.

Regardless of lenders’ short sale policies, borrowers must sell house face to satisfy the agreement. Finding a qualified buyer with today’s economic conditions can be challenging at best.

Many Americans would love to take advantage of discount real estate. However, with rising unemployment rates and continuously falling housing prices, most people are not prepared to take the risk.

Those who do have the funds to purchase real estate can find it challenging to obtain a mortgage loan. Banks have denied credit to individuals with exceptional credit and high FICO scores unless they are able to provide a substantial down payment.

Economic turmoil combined with an abundance of discounted properties and few qualified buyers has created an oversaturated market. Qualified buyers have carte blanche and can choose from a wide assortment of real estate. How can homeowners ever hope to find a buyer, let alone find one to satisfy a short sale?

One little known resource is real estate investors. Many investors seek out short sale and foreclosure houses because they are sold below market value. Additionally, several investors buy homes with cash in order to obtain bargaining power and expedite the transaction.

It is relatively easy to locate real estate investors. Start by asking friends, family, co-workers or neighbors for referrals. Contact local realtors or mortgage lenders for recommendations. Use the Internet to locate local investors or investment groups. Attend investment group networking events to meet investors in person.

It is important to engage in due diligence when selling real estate to investors. Capitalize on the power of the Internet to conduct research. Check government agency websites to validate credentials and ensure investors are licensed to conduct business in your state.

Financial experts recommend interviewing a minimum of three investors. Request a list of referrals and successful real estate transactions from each. Take time to contact each referral. Legitimate real estate investors are eager to share their achievements and referrals.

The key to sell house fast in a recessed housing market is working with a professional real estate investor; particularly one with experience in short sales. Taking time to verify their credentials is the key to achieving a successful outcome.

Originally published here.

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Simon Volkov

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Lake Havasu Todays News Herald
The owner of the English Village isn’t the only thing on the way out. Maritan owner Chris Read confirmed Friday that he stopped making payments which will shift control of the property to its lender, St. Louis-based Virtual Realty Enterprises.

Published Feb 23, 2011.
Read more: Today’s News-Herald