Notes

When Seniors Sell THEIR HOUSE - What to Do Next to Keep up with the Money THEY Receive From the Sale
The problem is replacing the home will eat up all the money they have received from the sale of these home! Well it does not have to happen, there is a way to keep the majority of your profits and live in a home of one's choice without having to pay cash.

First let's consider the options

If you purchased your house 30 years ago you almost certainly paid a lot less then your neighbors in the area. So lets say you purchased your house for $100,000 which twenty years ago is a high end home. Now we experienced the years of tremendous appreciation and perhaps you had the chance to sell your home in 2005 for $750,000 but, you decided that you would hold out for more. Then it hit; the devaluation period that started in late 2006 and in a few areas of the country is still going on today. So now you're thinking you better sell before you lose any more money rather than have any left to purchase a replacement home.

Determining today's value

You paid $100,000 for your home twenty years ago; now take that 30k and calculate 4% each year compounded over 30 years this might be about what your house ought to be worth today. You have calculated the worthiness you should be looking at a house worth around $220,000 in the current real numbers predicated on 4% appreciation, or consider it in this manner 100% return on your home purchase. Remember just forget about what you could have gotten back in the boom most or even each of the value in those days was false or inflated. Now you have a value that you can realistically depend on receiving today if you sell! So now what now ? to replace your house. Well do you know the choices and what's the net that you'll have to work with in the end is said and done.

Time to Sell First you need to take a look at your home as if you were going to buy it today! Walk around your house inside and out just like you are seeing the house for the first time, one important things take the emotions out of what you are looking at and think buyer not you. If you believe you can't do that they get your friend or generate a Real Estate agent and tell him you want to hear the truth not just what they think you wish to hear just to obtain the listing. Have them provide you with a honest evaluation of the problem and make suggestions that they think will enhance your sell ability and appeal. Again take the emotions out of this it should not be studied personally this is the real business decision.

Now that you know what you someone else thinks about your house and what it may need to improve its market ability make a list with cost. Once you have the list with the price associated with the changes determine what you are ready to do and everything you are not. Remember there are a lot of things you can do to your home that will not require a lot of capital to fix, plastic surgery can go quite a distance. If you actually want to go one step prior to the rest of the homes available to buy hire a reputable home inspector to come into your home and execute a complete inspection. read more is going to be achieved by the customer so get a join it and also have it done first. In this manner you can advertise the home being an inspected home or you will have a tool in your hand when it comes to negotiating the sale. Now together with your repairs some should be down if they're important functionally or cosmetically to boost the value for sale. The main thing is realize everything you are prepared to spend and get these exact things done before you list your home. Also you want to think what you will not do and remember if they're big expensive items then determine if you're will to credit the buyer for these items.

Given that you have been through the list and completed the items that you are willing to do and determined how much you have not done and if you will see a cost connected with those items, this is the time to list your house. Assuming you have not yet found an agent or if you're going to try to sell it yourself, that is not really a good idea if you don't are experience and so are ready to be considered a marketing person. So lets say you don't want to do it yourself and you also want to hire a specialist. I take advantage of this word loosely I mean professional!

Top Ten Questions to Ask

If you are going to use a Realtor you then need to hold interviews with several agents and brokers to find out who can get the job done in today's markets.

Here is list of things to ask!

1. How many years have you been in the business?

2. How many sales perhaps you have completed within the last year?

3. What were your average days on the market?

4. That which was the percentage of list price verses sale price?

5. What have you any idea about my home area?

6. What is your marketing program, and are you experiencing a detailed plan?

7. Do you have any suggestions about my home which will make it sell faster?

8. Do you promote my home online, real important the stats are 85% of most buyers are online looking for homes!

9. Do you have detailed report of the value of my home?

10. Do you negotiate your fee if my home does not sell for the suggested list price?

This is just the most notable ten things you should ask a Realtor when you are interviewing them for the job, and remember tell them you're interviewing them before they even come your house. At this point you have the tools you must get not only get yourself a good agent to sell your home, you might also need the house cost for repairs and you know about how much your house should sell for today. Real important also think about financing options you are willing to except from the buyer, usually do not limited your options, except almost everything that is available today. Your agent must have the knowledge of the different options, but whichever offers you desire to entertain the buyer will need to have an approval at hand no exceptions. Usually do not except any offers where the buyer has a mortgage approval contingency it will only be contingent upon an appraisal, title, and a home inspection for those who have not offered the one that you had completed. One more thing always and After all always provide a Home Warranty from the good company on the house, piece of mind for a buyer is worth thousands to you.

Now you have your price and you also have determined just how much you should have in your pocket to get a replacement home. You know what you will need and where you want to go. Now go out and look at homes, do not put any offers on homes if you don't have the money you will need in hand. Now here is where you could really make a good deal on a house, and keep the majority of your cash in your pocket. Once you find that home you want to purchase and you have determined the purchase price that you are willing to pay as well as your home is under agreement to close then make your proceed to buy. Never get yourself caught in position that you must sell your home merely to get out as you have to choose your new home, this is to stressful also it gives you a bad position with buyers of your house.

Here is where you can keep most of the money you receive from the sale of your house.

In the past a lot of people who were investing in a new home had basically two options they either paid cash for the house, or they put enough down and took out another mortgage with payments and as a senior neither of these options are viable for a person who is going or is in retirement. Just what exactly is it possible to do! Think backwards today seniors are the only ones which have a third option that's really the only solution to keep the money in their pocket. THE GOVERNMENT has a program that may allow you to buy a home rather than make another payment for the others you will ever have and keep a more substantial portion of the proceeds that you receive from the sale of you home tax free. That's right the proceed or the appreciation of the worthiness of your home around $500,000 for a couple is your to help keep tax free. Now here's where one can really capitalize on your purchase and keep more of one's money for you're retirement! Think Reverse Mortgage purchase mortgage, you need to use this program and make your offer to purchase being an approved buyer prepared to buy. Under this program you just need to have a down payment on the average at age 62 of around 40% of the price or the appraised value which ever is less and finance the total amount with a Reverse Mortgage and never make a mortgage repayment for the rest of your life. The very best part is you get to keep the balance of your money that you receive from the sale of your home tax free for your retirement. So when you choose to sell and buy a replacement home think in Reverse of what you did once you purchase your home 20 year ago and go and revel in the rest you will ever have and truly make sure they are the golden years. Oh one thing I forgot to say this mortgage have not income, credit to qualify all you need to have is the money for the down payment and be at least 62 years of age, how easy it that to purchase your new home.

Tim Robbins,Sr I am a senior Reverse Mortgage Specialist. My main goal is to supply the best education resources available and to always place the seniors interest first of all. My website was created to give you all the available information that you can review either in print or video by visiting [http://bestmortgageplans.com] for all you senior resources you might need for a good life. Also contact me Toll free at 800-610-3599 for a free of charge Report ABOUT Reverse Mortgages Visit me on my website there it is possible to talk to me live via a toll free call or it is possible to connect to me live via my exclusive video live connect Ask Questions Check it out
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