You're not required to have an attorney, but your home is one of the biggest purchases you make. Your attorney will check the title, review documents, order surveys and negotiate through home inspection issues.... more
Are you getting ready to sell your home? Staging the home will give you certain advantage in this competitive market and add 10-15 percent more to the price you expect for your home. Hiring a professional
Besides repairing, decluttering, and staging, a deep cleaning of the exterior is also necessary to sell your home. One of the most quickest and cost-effective ways to remove the dirt and mildew around
Every year homeowners spend thousands of dollars on renovating their home, but often forget that many renovations can put money back in their pocket while saving the Earthâ€™s resources. While many
Spring is the perfect time to consider putting your home on the market and with home prices starting to come back up from the housing crisis; you may be considering selling your home yourself. While
Doing your own home projects is a great idea. It helps you save money, get a custom look to your home and it gives you a sense of pride. The only problem with DIY projects is that they all have a level
Selling your home is often a challenge and trying to set the scene for what homebuyers want can feel like a guessing game. While it seems like you have no idea, the reality is all homebuyers are looking
I will be happy to assist you if you want to have your own Realtor.
Please feel free to contact me anytime~!
Cindy Wang Do Yim, Broker/Owner
http://cindyyim.topseller.net/ (For All MLS active listings, click to Search for Homes)
Cindy's Residential & Commercial Realty... more
Someone has asked me the other day whether new construction houses in Champaign-Urbana are overpriced compared to recent past. I think this is a great discussion topic in todayâ€™s real estate market.
Yes, I'm a regular, you might even say avid, blogger. But my blog is on another site. If you're interested in reading, I hope you'll pop over to my real estate blog. There you'll find info on our local
If you sign a listing agreement with a new agent once your first one expires, you are under no obligation to pay the first agent. If you sign a contract with a buyer under the new agreement (with your new agent), you will then owe the agreed upon commission. The first agent will not be able to ask for a commission.... more
if you sell the home to your tenants, on contract, you would be locking in a set price for the home and you would not have to incur time/expense of marketing it to other prospective buyers. you continue to own the home right up until the buyers make their final payment, in full. if the buyers break the contract, anywhere along the way, typically, you would be entitled to keep ALL of the money paid to you (even if it were 99% of the whole amount). you win, buyers lose.
if (when) the buyers stop paying, you can go to court to evict them and you can sue them for the breach of the contract. you would AVOID any of the formalities or costs or delays involved in foreclosing on a mortgage. its annoying, expensive and takes time, but much less so than if you sell the house outright and give the buyers a mortgage.
you state the most obvious "con" is in your question. if the buyers are not paying rent now, what would be any different if there were a sales contract? another disadvanatage is that you must continue to own the home, and manage all of this until the contract is closed. (i have had some clients sign 12 month contracts, others for 2 or 5 or 10 years). again, not substantially worse than managing the property as a landlord, but if you had a straight up sale, you would get all your proceeds up front, one lump sum, and you can wash your hands of the whole thing. its just neater and cleaner that way.
installment contracts of this sort are really, almost always, a transaction of last resort for buyers, more so than sellers. way too much risk for the buyer. i have only known one buyer in 23 years who actually completed a transaction. every other stopped making payments for one reason or another and lost everything they invested in their deals.... more