Entries by loricrawford

Don’t Sell Yourself Short

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Short Sales in Trinity – Pricing vs. Value
For instance, a “short sale” does not mean it is listed at a better price than other homes in the neighborhood. The lender wants to recover as much of the money owed to them as possible, so the amount they agreed to accept from a buyer is typically pretty much in step with fair market value.

Short Sales Specialists

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Typically, buyers and sellers select an agent based on reputation and compatibility; but if you’re dealing with a short sale or a foreclosure or are looking to obtain advice on how to proceed with either, you need to make sure that the Realtor you select has the appropriate accreditations.

Realtors who seriously want to offer effective short sale and foreclosure services now pursue a focused course of education to earn approval as a Certified Distressed Property Expert.

Don’t Sell Your Home, Exchange It!

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What are the 1031 Exchange Timelines?
There are two:

The Identification Period – You must identify a selection of other replacement properties that you wish to buy. This period is exactly 45 days from the day that you sell the property; no exceptions.
The Exchange Period – This period ends exactly 180 days after the date that you close on the sale of the home (or is the due date that your federal tax return for the year in which the transfer of the property has occurred, whichever situation is earlier). This is the time period you have to finalize your new purchase transaction.
Please note that while none of these time frames are negotiable, it is a very clear cut process that can save you an extraordinary amount of money and even adds more appeal to this buyers’ market.

An Emotional Real Estate Market

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What I’m trying to say is: if you’re a buyer and have found a home you love or you’re a seller and have found a buyer that is qualified – you should try to work it out with both parties under the expertise of your realtors and the lender. Emotions get in the way too often.