Withthe state of the economy and housing market, foreclosures are top of mind ... foreclosures on back taxes in ctforeclosure mountain homes for sale in north carolinagovernment tax foreclosure ...
This is a very difficult decision to make, but from experience with clients of mine I can tell you that
many of my clients in a similar situation as yours have opted for becoming a landlord although they have never before been one, and it is not as easy as it sounds...
It may take a while for you to find the right renter, good credit, good background check, good income,
you want to make sure that they not only can afford your rental property but also will take care of it and pay the additional fees of electric, gas etc.
You definitely should try to refinance to a lower interest rate, and to make it acceptable to a renter you may want to make sure that it is inviting and pretty, so a bit of paint will go a long way, and new carpeting that is easy to clean like some of the berber type is a good idea, you can include a cleaning fee for the home at move out, and you will get a security deposit usually one month rent. You also want to make sure what to do if your renters have pets, what do you accept and what do you not accept, if you do accept pets, you can ask for an additional pet rent, or an additional pet
security deposit... If you have never been a landlord, you may want to list your rental with an
experienced Realtor in your area, familiar with the rental market, so that you are asking for the right rent, and also to have the renter sign a detailed lease agreement.... That agent will then also
take care of getting a fully filled out application, and will run a credit and back ground check on
your behalf.... And who will take care of repairs? Would you want to get a Home warranty, and the
tenants pay the service call fee only if anything breaks down, or do you want to take care of repairs
as they come on?
And before you rent, where do YOU go?
All the best to you, if you need the recommendations for a local Realtor feel free to contact me and
I will be delighted to forward some good ones in your area to you.
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties, 30 Green Bay Rd, Winnetka, Illinois 60093 ---- EdithDoesItRight@yahoo.com or EdithSellsHomes@gmail.com Check out my website at htttp://www.tinyurl.com/MeetEdithHere
get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)... more
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A word to the wise …
Elvis knows what he is talking about with pictures but I know I am a Realtor and not a photographer so I always use a professional. To answer your question though-Yes I agree with him, they still need work. If you have the tools I would give it another shot on your own. Remember that everyday potential buyers are seeing your home on line & if they don't see anything they like they are moving onto the next home. I would not waste any time in getting the best pictures possible. I know I offered before but I would still be happy to supply the info. for the company I use if you decide to go that route.
I would also suggest thinking outside the box to get people into your home to view it. I am not sure what the company selling your home offers but have you had any open houses? I will be the first person to tell you I am not a fan of them because I have not seen much success but giving it a try won't hurt! You might want to think about enticing people to show up too...like a drawing for a gift card etc...... more
ok some advise from one homeowner to another yes it is bueatiful out here and homes are getting cheaper by the dozen but unless you are JOB SECURE and FINACIALLY SECURE seriously think about it and research it. oh and as well as having perfect or damn near perfect credit....if you can take the heat and think that your lil ones can as well then definately by all means do so look into a mortgage like we did where u can get both the pool AND house in one lump sum (trust me a pool out here is like cell phones are in CA) (im from there as well ventura county) and look for a mortgage co who is flexable or can be in the future in case you hafta refi DONT GO W N FHA like we have and most ppl do get if there credit is less than perfect our subdivision is MATTAMY homes AZ and seriously compare forclosure homes are a good deal but only if you are tim the toolman taylor of handymen....i can send some pics of the area if your interested from a persons point of view instead of the usual internet research....either way happy house hunting and happy new year :)
oh and NEVER NEVER rent from a 3rd party there have been MANY of times that ppl (including 2 friends of mine) would come home one day from work and there would be either a for sale sign , up for auction or foreclosed all together.....(email@example.com)... more