Most people do not know enough to sell their own house. Heres why. 1. They Cant List It! Only licensed brokers and agents can create a listing in the MLS sale-by-owner houses will be invisible to agents and unavailable on the Web. 2. Agents Wont Show It. Typically, a buyers agent gets part of the commission paid to the sellers agent. Sale-by-owner houses do not have that commission commitment so a buyers agent might not get paid. No agents makes the pool of buyers MUCH smaller. 3. It is Probably Overpriced. Most homeowners do not have enough data and emotional distance to put a market price on their own home. and overpricing is another deterrent to potential buyers. 4. Buyers Prefer Neutrality Buyers will spend less time in the home and be less likely to make an offer because owners arent neutral about the transaction. 5. Legalities & Complexities. Real estate transactions are complicated. Most homeowners do not know enough to avoid potentially expensive liabilities Overlooking a form or required disclosure exposes the seller to lawsuitsAFTER the transaction is closed. There are buyers with enough real estate experience to sell their own homebut if you havent ever sold someone elses home you probably shouldnt try selling your own.

Today, your first showing will be on the Internet - you are watching this on the Internet, right? Your price, listing descriptionand PHOTOSdetermine whether someone will visit in person. Consider professional staging advice or help. Prep for photo- and video-shootsjust as carefully as real visits. Ask your realtor if they usea professional photographer If they dolook at prior photosand pick someone who understands the job. Photos should make the most of your homes featuresand give prospective buyersan emotional connection that invites them to visit in person. Help them envision their lifestylein the housenot just the counters and walls. If your realtor recommends video,just as with photographystage it carefullyand hire a professionalit will pay off. And look over your listing when it goes liveon a computer AND a mobile deviceto make sure it is accurate, pleasantand compels people to show up. Remember - your first showing these days will be on a screen.

As we show you in this video, start several months before the property is made available. Look through the eyes of a buyer What needs to be cleaned? Repainted? Repaired? Or tossed? Ask yourself - or a friend If you were buying this house what would you want to see? The goal is to show a home that looks good makes the most of it is assets like space and location and attracts as many buyers and as much demand as possible. Allow yourself enough lead time - not just a day or two - to make the most of the sale. And get help from a real estate agent - early.

Buyers generally seek the least expensive home in the best neighborhood they can handle. Like the guy in the video says, you want to present a home that fits in the neighborhood but doesnt stand out too much. For example if neighbors are all 4 bedrooms, 3 baths and 3000 square feet additions that make your home 5, 4, and 4000 will make yours harder to sell. Improvements should make it show well and fit well in the neighborhood. Last-minute capital investments in large structural changes arent likely to pay off. But cosmetic upgrades like paint and landscaping help a home show better and often do pay off. Of course, all systems and appliances should work to get a top price. To make your home competitive and attract buyers and bids work with a professional real estate agent and start early.

As the video says - NO. Buying rental property may be a great financial strategy but VA mortgages arent intended for this purpose. The VA loan program started after World War II to help eligible veterans secure homes and that is still the primary aim. There are exceptions for houses still being built but the general rule with a VA loan is that you must occupy the house within 60 days of loan closing. So rental property loans will require conventional financing options based on income and credit.

The COE is the key document that verifies to lenders that someone is eligible for a VA-backed loan. Servicemembers, Veterans and National Guard and Reserve members may apply online or through their lender; most lenders have access to the system and can verify eligibility IF the VA has records on file. The VA also maintains a hotline for assistance. Surviving Spouses can use VA Form 26-1817 to request determination of their eligibility for VA Loan Guarantees. Your lender may be able to assist with processing or contact the VA for information this video did not address.

Even though this video simplifies things to help you remember, FHA closing costs are similar to those of a conventional loan, with the exception of an FHA mortgage insurance premium. As of 2013, the FHA requires a single, upfront mortgage insurance premium equal to 2.25% of the mortgage to be paid at the closing (or 1.75% if you complete the HELP program). If the loan is paid off in full within the first seven years, this initial premium may be partially refunded. If your mortgage is longer than 15 years or if you have a 15-year loan with an LTV of more than 90%, you will have to pay an annual premium after closing. This premium is paid monthly.

"Assumable" means "someone else can take over the loan when they buy your home." As this short video explains, FHA loans are usually assumable. If you have an FHA loan, particularly one with favorable terms, and it is assumable, you may have another tool in your selling negotiation. The process of assuming a loan can be easier, and sometimes less expensive, than starting a completely new loan. This is good for the buyer! Assumption requires a credit check, but home appraisal and other processes and costs can be skipped. Interest rates will affect the value of assumability. If interest rates have dropped since you originated the FHA loan, of course, there will be less interest in assuming it. Know the interest rate and terms of your FHA-backed loan, and read the loan terms to see if it is assumable, before selling. It may help you sell. And if you are in the process of buying with an FHA-backed loan, ask whether the loan is assumable. If interest rates rise, that assumable loan may become a valuable asset when you sell in the future.