Chattanooga-Cleveland TN Real Estate and Community News

 

The Differences Between a Homeowner Sale and a Bank Foreclosure

 

Today I want to talk about the difference between a homeowner sale and a bank foreclosure.

There actually is not much difference. However, there is an emotional side to a homeowner sale, while banks have a strategy behind how they liquidate the property for foreclosures.

Banks work with appraisers and brokers for opinions on price before they put the home on the market. They also check for any condition issues to reflect that in the price just like a homeowner would.

The only big difference is that banks want to compete in the market, so they will have a strategy to do that. They also make price reductions on a more regular basis because they may have a bottom line that they have to meet to pay off a mortgage.

“Banks do price reductions on a more regular basis because they may have a bottom line that they have to meet to pay off a mortgage.”

Writing an offer on a bank foreclosure versus an offer for a homeowner sale is still the same. The offer will still have to be presented to the seller, whether that’s bank or the homeowner themselves, and then negotiated out like any other contract is.

Do not be afraid of bank foreclosures. There are a lot of stories about whether they are harder to deal with, easier to deal with, or if you can get a great deal on a property. That all depends on if the bank has rehabbed the property and got it ready to sell or if it has bigger issues like any home could.

All in all, bank foreclosures are still good properties to buy. You just have to make sure, as with any other property, that you get a home inspection completed first.

If you have any additional questions or are interested in buying or selling, please feel free to reach out to me. I look forward to speaking with you soon.

 

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Oct. 3, 2018

Home Sellers: Don’t Hire an Agent Before Asking Them These 5 Questions?

Home Sellers: Don’t Hire an Agent Before Asking Them These 5 Questions

 

If you’re selling your home and you need to hire an agent, here are five questions you should ask them in order to find out if they’ll be able to sell your home quickly and for top dollar:

1. “How long have you been selling homes?” This will give you an idea of their experience level.

2. “Do you have a written marketing plan?” Agents who have a more detailed marketing plan for their clients are typically more successful in selling homes consistently.

3. “Do you work with a team or as an individual?”

4. “What is your list-to-sale price ratio?” This number will tell you how good of a negotiator they are.

5. “Do you have a written marketing analysis?” Asking to see a written marketing analysis will allow you to actually see what the market is doing instead of listening to someone tell you where it’s at.

“Agents who have a more detailed marketing plan for their clients are typically more successful in selling homes consistently.”

If you have any other questions about what you should ask your agent before hiring them or you have any other real estate needs, don’t hesitate to call or email us anytime. We’d love to speak with you.

 

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Posted in Real Estate Videos
Oct. 3, 2018

3 Things That Can Kill Your Home Sale

3 Things That Can Kill Your Home Sale

 

You may think that your house is ready to go on the market as-is, but little things you would not expect can end up being big deal-breakers for buyers. This is why today I want to take a look at three silly things that could sabotage your home sale if you don’t fix them:

1. A messy lawn. Buyers likely won’t forgive a messy lawn. Your home may even stand out if a buyer sees you making an effort to clean it up while your neighbor’s yard is still 15 inches deep in leaves.

“A buyer is going to wonder why you did not take the extra steps to hide dangling TV cords.”

2. Animals. While buyers may not mind if animals live in the home that they are considering purchasing, they don’t want to see or smell any evidence of them.

3. Cords hanging from a mounted TV. Do not be surprised if a potential buyer’s eyes go straight to the dangling cords as they walk in. At that point, they’re going to wonder why you did not take the extra steps to hide those cords.

If you have any additional questions, please feel free to contact me. And, if you are thinking of selling your home, please call or email anytime. I would be happy to help.

 

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Posted in Real Estate Videos
Oct. 3, 2018

Cleveland Chattanooga Homes

The Differences Between a Homeowner Sale and a Bank Foreclosure

 

Today I want to talk about the difference between a homeowner sale and a bank foreclosure.

There actually is not much difference. However, there is an emotional side to a homeowner sale, while banks have a strategy behind how they liquidate the property for foreclosures.

Banks work with appraisers and brokers for opinions on price before they put the home on the market. They also check for any condition issues to reflect that in the price just like a homeowner would.

The only big difference is that banks want to compete in the market, so they will have a strategy to do that. They also make price reductions on a more regular basis because they may have a bottom line that they have to meet to pay off a mortgage.

“Banks do price reductions on a more regular basis because they may have a bottom line that they have to meet to pay off a mortgage.”

Writing an offer on a bank foreclosure versus an offer for a homeowner sale is still the same. The offer will still have to be presented to the seller, whether that’s bank or the homeowner themselves, and then negotiated out like any other contract is.

Do not be afraid of bank foreclosures. There are a lot of stories about whether they are harder to deal with, easier to deal with, or if you can get a great deal on a property. That all depends on if the bank has rehabbed the property and got it ready to sell or if it has bigger issues like any home could.

All in all, bank foreclosures are still good properties to buy. You just have to make sure, as with any other property, that you get a home inspection completed first.

If you have any additional questions or are interested in buying or selling, please feel free to reach out to me. I look forward to speaking with you soon.

 

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Posted in Real Estate Videos
April 10, 2018

Home Warranty

Home Warranty

Posted in Preferred Vendors
April 10, 2018

Remodeling/ Contractor

Remodeling/ Contractor

Posted in Preferred Vendors
April 10, 2018

Financial Advisor

Financial Adviser

Posted in Preferred Vendors
April 10, 2018

Roofer

Roofer 

Posted in Preferred Vendors
April 10, 2018

Title Company

Title Company 

Posted in Preferred Vendors
April 10, 2018

Home Inspectors

Home Inspectors 

 

 

Posted in Preferred Vendors
March 23, 2018

Mortgage Lenders

Home Mortgage Solutions LLC 

John Bischof Jr. NMLS # 165831

Phone: 423-339-8086

Cell: 423-505-9811

31 Mouse Creek Road NW 

Cleveland TN 37312

Online: www.HomeMortgageSolutionsLLC.com 

 

Posted in Preferred Vendors