5 Pitfalls to Avoid When Starting Out in Probate Investing in Fort Lauderdale

Buying probate sale properties is a great way to find eager sellers with properties in good locations. As with any type of real estate investing, setting the right expectations helps set the tone for success. Here are five pitfalls to avoid when starting out in probate investing in Fort Lauderdale.

Expecting a Fast Process

The probate process itself is bogged down with attorneys, executors, and courts. It isn’t a fast process. For anything to be accomplished and completed, the courts must approve it, including the sale of any real estate. Not only will the executor need to present the offer to the courts for approval, they must wait for court dates to open. The courts will review the offer, making sure it meets the cash requirement needs of the entire estate.

What that means for you is sitting and waiting. The courts might need to confirm all taxes, final expenses and other debts are calculated. It will want to see that the estate has enough cash proceeds to meet those needs. It can take months, sometimes more than a year for the probate process to finalize. Factor this into the offer and potential swings in the market.

Thinking Every Property is a Bargain

Once upon a time, investors heard “probate sale” and assumed that they could get a below market price deal for the property. When estate tax laws had low threshold limits, executors and beneficiaries often found themselves needing to liquidate quickly to meet the tax liabilities in a timely fashion or face fines and penalties.

This isn’t the case in most probate sales today. The estate tax threshold is in the millions and most probate property sales don’t need to worry about a quick sale to pay estate taxes. What this means for you as the investor is that you should expect to pay a retail price, or at least something close to it. In fact, know that many executors won’t consider offers without first listing the property for public sale. Multiple offer situations mean executors have done their job to see what the market will yield for the property, meeting their fiduciary responsibilities.

Read on to discover more pitfalls to avoid when starting out in probate investing in Fort Lauderdale.

Demanding Repairs or Credits

Executors are not homeowners. Beneficiaries are working quickly to sort through the items within the property. They then need to either hold an estate sale, donate, or dispose of these items. They are not in the business of fixing a home up for sale. Don’t expect them to.

When making an offer on a probate property, be sure to list “as is” as part of the terms and conditions. This makes the escrow process easier for executors who no longer need to worry about any requests for repairs or monetary credits in the process.

When making an “as is” offer, make sure you have done extensive due diligence prior to making the offer since your only options are to withdraw or keep an offer you weren’t comfortable with.

Failing to Understand the Probate Process

The probate process is very specific. Executors must follow the court rules and regulations. Failure to do so can result in personal liability. Understand that beneficiaries are not always the probate estate executor; they do not make the final decisions on these things. In fact, the executor might make decisions but these decisions need to be approved by the probate court.

It may take time for the courts to review and approve the purchase offer because the courts must look at the entire estate financial picture. All debts and bills need to be taken care of, as well as probate court costs. Learn the probate court system in Fort Lauderdale so you don’t frustrate executors.

Not Going Back to Previous Property Offers

Keep good records of when you make offers and what the circumstances are around the offer and why it might be rejected. Because the probate process takes so long, many investors make the mistake of removing themselves from the opportunity and moving on to the next quick investment.
Consider that the executor may have had deals get declined from the court or buyers back out upon inspections or appraisals. If you have good notes and remain professional, you can go back to the executor and renegotiate the deal. You might find them to be more receptive to your offer after the property has been sitting. When all other matters in probate are completed, the executor might be more willing to quickly liquidate the property and work with you on pricing.

Becoming an expert in probate home buying will be beneficial to your real estate investment career.

CONTACT US TODAY AT (954) 350-0000 OR BY OUR ONLINE FORM IF YOU ARE LOOKING TO SELL AN INHERITED PROPERTY FAST. WE CAN MAKE A CASH OFFER TODAY.

How To Use The Internet to Sell Your Home in Sarasota

Now, more than ever, people are finding success selling their homes online. But with the online marketplace being so hot, you are likely to face some stiff competition! We have put together our favorite tips to help you stand out and sell your home fast!

Go Where The Buyers Are:

There are many online listing portals to choose from. Look up some listings in your area. What sites show up first in the search results? Many times, the tops sites are Zillow and Trulia. Love them or hate them, they have a great grasp on generating real estate traffic. When you list something on the MLS, it is likely to be picked up by these major sites. Whether or not you are advertising with them, you’ll want to make sure your properties are showcased well.

There are services that will syndicate your listing to many top sites, so you only need to enter your information once. However, make sure to check your listing on all sites in which it was syndicated. Automation can sometimes lead to the data being jumbled.

Consider Premium Listings:

When you do a property search on any major website, you will likely see certain properties at the top time and time again. They paid to get that top spot. Just as the Agents you see over and over again paid to put their name first. If you want to give your property instant traction, it can be worth the extra cost to put your listing at the top.

Create a Property Specific Website:

A unique and interesting way to sell your home using the internet would be to create a property specific website. A basic website and domain won’t cost you much to get started. With a little SEO, content, and imagery, you can quickly build a site to rival the big advertisers when it comes to showcasing your house!

Use Amazing Photos:

They say a picture is worth a thousand words, and they are absolutely right. Make sure the words used to describe your house are “Stunning, spacious and immaculate!” not “Dated, cramped and dingy!” When buyers see a photo of your home, it tells them whether or not they want to pursue it further. For many buyers, it is not easy to picture themselves in the home if they are seeing your personal belongings. Get a head start on packing by putting your knick-knacks and decorative items away. Get rid of all the clutter, then hire a professional photographer to take photos of your home. Look through a few listings. Notice who paid for a professional job, and who took cell phone photos from the street.

Use an Accurate Description of the Property:

Be as detailed and as accurate about the property as possible. Disclose any defects but also make sure not to overlook the details that may be a selling point for a certain buyer. If you have recently re-done the roof, mention it. If there is a large and bright kitchen, you should mention it.

Watch Your Words:

When people are house hunting, the listings can all begin sounding alike and running together. A lack of adjectives will cause every property to be “beautiful” and “cozy.” Don’t blend in with the crowd! Use colorful language to make your listing stand out from the rest. Don’t just gloss over the ad, using generic words to describe your property.

Use Data To:

Acquiring, understanding and using data will almost guarantee you a quick sale. Using data, you will be able to:

• Run comps of recently sold properties in the area.
• Locate and contact the best agents in town. Online reviews will ensure you find the agent that is best for you!
• Study market trends for real estate in your area. Ask questions such as: when is the best time of year to sell my Sarasota house? What are the current buyer demographics?

Are you ready to sell your home in Sarasota? We are ready to help! Fill out this form, or give us a call now! (954) 350-0000

Selling My House Fast in Melbourne

You need to sell your Melbourne house fast right?  If you’re saying… “I’m having the toughest time selling my house fast in Melbourne“… you’re at the right place 🙂
These tips will help you get your property sold.
[NOTE: Most important – if you really need to sell fast, consider the option of selling for cash offer to a qualified local investor like "Your Trusted Home Buyer"

Selling My House Fast in Melbourne - Your Options

Lately the financing world has been really screwy. Lenders change program requirements at the last minute – and for normal purchasers, that could delay your sale.
Keep in mind that anyone can write a cash offer, even if they’re borrowing money to purchase the property.  So when you’re selling a house through a real estate agent to an end buyer… be prepared that if the buyers financing falls through… you’ll have to start the sale process all over again… adding more months to the process, more holding costs you have to pay for, and more.
To avoid having the buyer pull out at the last second because of financing… one option is to sell your house to a local investment firm like us.

Often, qualified investors have access to multiple lines of credit with public and private lenders that is secured by other assets.

That means we can close quickly and we don’t have to wait for a bank loan to come through. You get your sale done and cash in hand quickly.

You’ll have to do some due diligence to make sure you’re dealing with a qualified local investor. Qualified investors will have no problem providing you access to bankers and references who can verify the investor’s ability to close on the loan.
If you’ve taken a cash offer with an earnest money deposit, you might be entitled to keep the deposit if the buyer can’t close on the purchase.

But how do you get cash offers fast?

You can get a fair cash offer from us actually today.  We’re buying properties in the [market_city] [market_state] area, which we’re local to… and we buy Melbourne houses … then we either hold them as rentals for ourselves… or we’ll repair / remodel the house if it needs it and sell it to someone who loves the house.

If your local Melbourne property qualifies, we can buy your house fast.

Just fill out the form or pick up the phone and call us anytime at (954) 350-0000

What is Market Value vs Assessed Value in Sarasota

When it’s time to sell your Sarasota home, there can be some confusion when determining the value. If you REALLY want to know what it is worth, you can pay to have an appraisal done. An agent should be able to provide you with detailed CMA reports, letting you know what is going on in your neighborhood. Knowing the differences in these home values can set you set your ideal asking price! 

What is Market Value vs Assessed Value in Sarasota

Market Value by Definition:

According to Fannie Mae, “Market value is the most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.”
Basically, this is the amount you can expect to get if you keep your house on the market for a few months provided everything goes smoothly and you have potential buyers coming to see your home on a regular basis.

Assessed Value by Definition:

According to Investopedia, “An assessed value is the dollar value assigned to a property to measure applicable taxes. Assessed valuation determines the value of a residence for tax purposes and takes comparable home sales and inspections into consideration.”

Understanding assessed value can be a bit confusing. County property accessors give values to homes for tax purposes, however, these values are not reflective of changes in market value. The difference between the assessed value and the market value is known as the equalization rate. This rate is used by the county to figure your actual property value.

Appraised Value:

But wait, there’s more. Your appraised value can differ from both of these. An appraisal is done by a licensed professional who rigorously checks all aspects of the home. While they might be 100% correct, this is still the opinion of one. Whereas other methods are mathematically calculated based off of your home’s history and market conditions.

What The Internet Has To Say About It:

The large real estate sites have their own formulas for determining property values. These values are broad, and based on market conditions and information entered by users on the site directly. They do not always accurately reflect YOUR home personally. Think of it as Kelly Blue Book for cars. It is a close guess but determining what the ACTUAL market value can be much different. People report seeing these numbers off by $20k, $50k and even more!

What it Means For You As A Seller:

Do your homework! Make sure you have all the numbers listed above and understand terms such as the equalization ratio and fair market value. Make sure you are working with a true professional who can help you to accurately determine the market value of your home.

Setting a great asking price is critical. You do not want to set it too high and have to repeatedly lower it to get buyers in the door. Your pricing history is public information, and repeatedly lowering your price can make buyers think there is something wrong with it. And for obvious reasons, you don’t want to set your asking price too low. To get the price you want you must exercise patience and make sure you are working with a true professional in Sarasota.

If you want to learn more about the best ways to sell your Sarasota home, send us a message here or give our office a call now! (954) 350-0000

How to sell your House Quickly in South Florida without any Hassle

Are you worried on how to sell your house quickly in South Florida without any hassle?
In this article I’ll dive into some ways you can start to look at to sell your local house more quickly.
There are lots of reasons people need to sell their house fast.

For instance, some of these reasons may include:

• need to relocate to another city because of a job change
• vacant property is being a burden on you
• divorce
• financial hardship
• you inherited a house that you don’t want to keep
• … among other reasons for needing to sell your house

So, if you’re looking to sell your local house fast (which who wants to sell their house slowly anyway?)… check out some of my tips below in this quick article.

Leverage The Web To Get The Word Out

Stats have shown that over 80% of house buyers go to the web first to research and find houses.
So if your house isn’t on the web… how are buyers going to find out about your house?

There are lots of ways to get your house online. You can list it on websites like Zillow, redfin, Craigslist… or even setup your own website for the property.

Then, take that property listing and get it everywhere online that you can. List it on all of the classifieds websites (again, Craigslist, Backpage, etc.).

Total Cost: FREE - Cheap (most routes are free, but some of these sites have paid versions)

Use Facebook To Spread The Word About Your South Florida House For Sale

One of the best ways to sell a house is through word of mouth.

Tell all of your friends and family that you’re selling… and have them tell everyone they know.
Also, hop on your Facebook account and share the property listing with your friends and ask them to spread the word for you to all of their friends who may be interested. What you need to do is simply send your link to your Facebook friends.

There may be a person in dire need of a house. Besides, you may also get a friend who may link you up with a buyer. The importance of using Facebook over other social networks is that it is free and you only need to be connected to the internet in your computer.
Total Cost:  FREE

Use of Local Dailies (Newspapers, Magazines, etc.)

One of the things we’ll do whenever we need to sell a house fast is also get our property in the local newspaper. It gets your house in front of lots of people… and one place lots of buyers look for houses is in the “homes for sale” section of the paper.  Put your phone number… a link to your online listing if you have one… a picture (ads with pictures get many many more responses than ads without the picture of the house).

Add in a few of the best parts about your house… the price… and end with a clear call to action on how they can setup a time to come check your house out.
Total Cost: Under $100

Get Your House On The Local South Florida MLS

The number one place buyers look for a house is the “multiple listing service”. That’s the fancy name for where houses go when real estate agents “list” a house.

A listing for your house will go into a central database that all local South Florida real estate agents in our area will have access to… so they can bring their buyers to the houses on the MLS that fit what they’re looking for.

You can get your house on the MLS without hiring a real estate agent to sell your house.  Some agents will let you pay a few hundred bucks to just list your house on the MLS for you and take no commission on the sale.

Sell Your House To A Reputable Local Property Buyer Like "Your Trusted Home Buyer"

Last, as another option to sell your house… if you really need to sell your South Florida.
We buy houses in and around South Florida, and can close quickly.

If you want to sell your house and are curious on how the process works… and want to see what we can pay you for your house… you can get that ball rolling in a couple ways.

1. Give us a call today at 954-350-0000: We’ll ask a few basic questions about your house… and within 24 hours we’ll make you an offer on your house. No Obligation at all. If the price works for you. Great! We can close on your timeline… in as little as 7 days.
2. Go fill out this really short and simple form with your basic house info: We’ll evaluate the property as soon as we get it today… then we’ll call you with a formal offer on your house in less than 24 hours.

It’s really simple.  You pay no fees. No commissions.
We just agree on a price that works for both of us and that’s it.

Let us make you an offer on your South Florida area house (we buy in other parts of Florida as well). You don’t have anything to lose. And you can have your house sold by this time next week (if you wanted us to close that fast) rather than having to wait months and months to market your house yourself the traditional way.

Understanding the Foreclosure Process in Sarasota

Understanding the foreclosure process in Sarasota is an important part of navigating your own home foreclosure.
Before we dive in…

What is foreclosure anyway?

Foreclosure is the legal process that lenders use to take back property securing a loan, generally after the borrower stops making payments.

Foreclosure is no fun.  But just know that it’s not the end of the world.
When you know how foreclosure in Florida works… it arms you with the knowledge to make sure you navigate it well and come out the other end as well as possible.

The Basic Stages of A Foreclosure

There’s a few stages that are important to any foreclosure process.

Foreclosure works differently in different states around the country.

The two ways different states use to foreclose upon a property are: judicial sale or power of sale.
Connect with us by calling [phone] or through our contact page to have us walk you through the specific foreclosure process here locally in Sarasota.

In either scenario, foreclosure typically doesn’t go to court until 3-6 months of missed payments have elapsed. Usually (but not always), a lender will send out many notices that you are in arrears – overdue or behind in your payment.

Under Judicial Foreclosure:

• Your mortgage lender must file suit in the court system.
• You’ll get a letter from the court demanding payment.
• Assuming the loan is valid, you’ll have 30 days to bring payment to court to avoid foreclosure (and sometimes that can be extended).
• If you don’t pay during the payment period, a judgment will be entered and the lender can request the sale of your property – usually through an auction.
• Once the property is sold, the sheriff serves an eviction notice and forces you to immediately vacate the property.

Under Power of Sale (or Non Judicial Foreclosure):

• The mortgage lender serves you with papers demanding payment, and the courts are not required – although the process may be subject to judicial review.
• After the established waiting period has elapsed, a deed of trust is drawn up and control of your property is transferred to a trustee.
• The trustee can then sell your property for the lender at a public auction (notice must be given).

Anyone who has an interest in the property must be notified during either type of foreclosure.
For example, any contractors or banks with liens against a foreclosed property are entitled to collect from the proceedings of an auction.

What Happens After A Foreclosure Auction?

After a foreclosure is complete, the loan amount is paid off with the sale proceeds.

Sometimes, if the sale of the property at auction isn’t enough to pay off the loan, a deficiency judgment can be issued against the borrower.

A deficiency judgement is where the bank gets a judgement against you, the borrower, for the remaining funds owed to the bank on the loan amount after the foreclosure sale.

Some states limit the amount owed in a deficiency judgment to the fair value of the property at the time of sale, while other states will allow the full loan amount to be assessed against the borrower.
Here’s a great resource that lists the state by state deficiency judgement laws, since every state is different.

Generally, it’s best to avoid a foreclosure auction. Instead, call up the bank, or work with a reputable real estate firm like us at www.yourtrustedhomebuyer.com to help you negotiate discounts off the amount owed to avoid having to carry out a foreclosure.

Experienced investors can help you by negotiating directly with banks to lower the amount you owe in a sale - or even eliminate it, even if your home is worth less than you owe.

If you need to sell a property near Sarasota, we can help you. We buy houses in Sarasota, FL like yours from people who need to sell fast.

Give us a call anytime 954-350-0000

Other Foreclosure Resources For Sarasota, FL Home Owners:

• Resources On Avoiding Foreclosure from the U.S. Goverment >>

We Buy Houses Palm Beach

Sometimes selling a house in Florida can be stressful. Sometimes conditions are unfavorable in life and if you are thinking to sell your property for urgent cash than Sell Your House Fast In Palm Beach. We buy houses palm beach quickly and pay cash back to you. It doesn’t matter in which condition your house is and where is the location for your house, we are ready to help you at Sell Your House Fast in Palm Beach

We are Your Trusted Home Buyer, a professional house-buying company, and we’d like to make an offer on your house to buy it right away…

We offer you simple and easy procedure so that you skip the conventional home selling hassles, you don’t need to buy your house through agents and it's not a good option because it takes lots of time-consuming processes and sometimes proves to be costly. In this case, you just need to know the accurate estimate of your home and then sell your home at Sell Your House Fast In Palm Beach. We offer you the fair price for your house. The best thing is all the paperwork is completed in less time and you will get the cash amount in minimum time. 

So if you are facing trouble in selling your home then contact at trusted home buyer.   

We commit to give you a premium experience which will be fully focused on you only during your entire journey at trusted home buyer. So from now on, all you have to do is to be excited about what’s coming next only as all your worries belong to us now. No more agents, no more open houses, no more inspections and no more waiting.