Becoming a landlord is an option worth looking at if one is looking for a second source of income. Owning and managing a rental property is not an easy job. Landlord and tenant rights must be fully understood in order to make it work. Being a landlord comes with its…
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A below market value property is a property owned by a distressed seller who has probably fallen behind on mortgage payments and is looking to sell the property as soon as possible, even at a loss. These sellers are keen on getting rid of their properties at a price that…
For everyone that rents out a home, the worst nightmare can be to have a tenant that doesn not pay the rent. There are basic steps that can be taken to evict a non-paying tenant but these steps can be changed according to the tenant, state law, and the particular…
Lately, a lot is being said about real estate auctions. Buyers are finding this option attractive mostly because of pricing, especially in times of economic distress when everybody is looking for bargains. However, there are several risks associated with buying properties this way. First, some auctioneers do not give the…
Looking around your home, you might see a hundred different areas and aspects that could be repaired, upgraded or improved upon. Everything from the light fixtures and towel racks could be changed out, and from paint colors to appliances could be updated. So where do you begin? To determine the…
The short sale is a situation that occurs close to the early stages of a foreclosure. A lender allows the homeowner to sell the property for less than the amount of the outstanding principal on the mortgage. Biggest Benefit is Time-Sensitive The lender will accept proceeds of the transaction and…
As the name suggests, a Quit Claim Deed is a contractual document that is most commonly used to relinquish or “quit” a claim to the deed of a piece of real property. By signing a quit claim deed an individual or “grantor” is releasing any claim on the property in…
A short sale is the sale of an asset, in this case, your home, for less than the remaining loan balance. Qualifying for a short sale is limited to individuals who have suffered long term hardships and are now unable to maintain their loan and to those individuals who must…
We have all seen housing prices drop the past few years, as home owners watch as their net worth falls as the price of their homes plummet in value. As the credit markets slowly begin to thaw, and as banks and other lending institutions implement new policies on home loans,…
Flipping a house will be successful in any kind of market. It follows a process that is not linked to any particular time period or economic condition. The success in buying a home, fixing it and reselling comes from finding the value in the home and creating value in a…