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Tips In Real Estate – Short Sales Explained

Real Estate Tips

Real Estate Tips

One thing that buyers may come across in their search for a new home is the short sale. A short sale is a situation where the previous mortgage home owners have been foreclosed on and now the financial lender is looking to cut their losses and sell the home quickly and usually for less than it is worth. Basically you are trying to turn a bad situation into something that all sides can be happy with.

Arranging a short sale can be complex thing usually involving a lot of negotiation with the lender. You will be working with a certain department of the bank that’s sole purpose is to deal with loans that have gone into default. In a short sale you will have to convince the bank that there is not enough equity in the property for the current owners to get out of their debt and that their best course of action is to sell the home and cut their losses.

The bank has already taken their chance and lost out of not only the interest that they would be collecting but the property now becomes a drain on them costing them money every day that they possess the property. This is where the smart investor comes in and offers to take the property off their hands so that they can get on with business. In this kind of investment more than any other in real estate, an investor needs to know their business. Dealing with banks and lenders when THEIR profits are concerned is quite different than applying for a loan. You are now talking about their money and as such you have entered a completely different world.

In their ideal situation the original owner would be able to find a way to pay them the owed mortgage and get back onto their payment schedule, allowing the bank to start making money off the property again. Once this possibility is ruled out it then becomes a matter of the bank trying to recoup their losses and if you can make them an offer that makes sense to both you and them then you may just be able to arrange yourself a great deal on a home for less than what it is worth. This kind of property is tailor made for a home flipping situation as with time on your side, you should be able to fix up and resell the home for an excellent profit.

Preston Guyton is a professional RealtorĀ® serving the Myrtle Beach real estate market. For more information on Myrtle Beach homes & properties, contact Preston today or visit http://www.prestonguyton.com


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Filed under Mortgage Rates and Updates, MyrtleBeachRealEstate

Add Glitz to Your Holiday Staging

Staging a home for sale during the holidays has its challenges. You want to create an atmosphere that say’s “Christmas”, but not to

Holiday Staging

Holiday Staging

distract potential buyers from the actual house. Take a look around your home this season, have you decorated with the same garland, red bows and cute little snowmen statues that you use every year? Tradition is a wonderful practice, but maybe it’s time to shake things up a bit. The holiday is full of glitz and sparkle, and maybe it’s time to make your home stand out by adding some to your decor.

Before you begin stocking up on Christmas sparkles, remember the decorations you add should enhance your current decor, and not try to overpower it. If your walls are a more neutral color, splashes of gold, silver or shiny blues and reds can make the room come alive.

Taupe colored walls with dark trim can be jazzed up with accents of royal purple and copper.

Try to use different mediums to add glamour to your decor; this year feathers are all the rage. Try weaving an old boa around your traditional green garland or use colorful strands of feathers around the bases of candles. Add sizzle to a bouquet of poinsettias by adding silver or gold feathers to the arrangement.

Is it painful to toss those old ornaments? Not to worry, they can be recycled. Make patterns out of white glue on your old Christmas balls and cover with sparkling glitter.

Take some interesting shaped fruits and vegetables such as pineapples or artichokes and spray paint them with metallic gold or silver paint and arrange on an interesting platter.

Don’t forget when setting a holiday table to dust the tablecloth with glittery sprinkles and use metallic colored candles and napkin rings.

Many people limit their holiday decorating to the living room/dining room area, but this is a missed opportunity. Pepper your house with glamorous seasonal touches throughout. Get some ultra chic hand towels for the powder rooms and add some flowers to the bedroom.

Adding holiday glamour to your decor will make your home stand out amongst the others, and most importantly, to those potential buyers.

Let South Carolina Realtor Preston Guyton, help you with your search for Myrtle Beach real estate. He can provide helpful background information on the local communities including Litchfield real estate.

Article Source: http://EzineArticles.com/?expert=Preston_Guyton

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Filed under GardenCityRealEstate, MyrtleBeachRealEstate