|How to Sell A Hpme With No Equity|
How to Sell a Home with No Equity
by Phill Grove
Understanding How to Sell a Home with No Equity in Today's Economy Provides a Valuable Service to EveryoneDo You Know How to Sell a Home with No Equity in Today's Market?
Consider this scenario: As a real estate professional, you find a distressed homeowner who wants to sell his or her house but has no equity. The market value is $125,000 and the mortgage note is $124,500. If they sell conventionally, the seller would have to pay closing costs, and that would run them close to $10,000. The seller cannot pay $10,000 to cover Realtor fees and other closing costs. If you understand how to sell a home with no equity, then you make this real estate transaction occur, and the seller, new buyer, the neighborhood, and you all win. If not, then this distresses seller's house will go to auction, and everyone involved loses. The difference between foreclosure and a successful sale is the knowledge of the real estate professional. If you don't understand how to sell a home with no equity, then you owe it to this industry to educate yourself, or you will be providing a disservice to all real estate professionals.
How to Sell a Home with No Equity | The factsIf the answer is 'I don't know' or 'I can't sell this house', then you are leaving hundreds of thousands of dollars on the table. In fact, you're doing a major disservice to the industry and every homeowner because your lack of knowledge is leading to more foreclosures. More foreclosures lead to lower median housing prices, which eats away at people's equity, and leads to more underwater homeowners...in which you have no solution for. It is your responsibility to be educated and understand how to sell a home with no equity.
Unemployment is high and will continue to rise, causing more distressed homeowners who need to sell to downsize their expenses. Foreclosures are increasing, and will continue to do so until jobs are created again. Home values are dropping and are at their lowest levels since 2002, and according to an article in USAToday.com, Robert Shiller, the economist who co-founded the S&P/Case-Shiller index, said a further decline in property values of 10% to 25% in the next five years "wouldn't surprise me at all." The situation we are in now will be here for about 5 more years. If you have not adopted your real estate strategy and learned how to sell a home with no equity, you will not be able to provide a service for your clients.
How to Sell a Home with No Equity | The solutionThe solution on how to sell a home with no equity is to be able to create a real estate transaction that involves owner financing. In addition to a large amount of distressed homeowners who want to sell but can't come out of pockets, there are many motivated buyers who still want their piece of the American Dream and have money to put down on a house but can't qualify for traditional financing.
The real estate professional who knows how to get between these two motivated parties will make millions of dollars in performing real estate transactions during this down economy.
But it's more than just money. Understanding how to sell a home with no equity provides a win to all parties involved. If you know how to sell a home with no equity, then a homeowners can sell an 'unsellable' house instead of losing their home to foreclosure. The banks win because they'll continue to receive payments on a note. The new buyer wins because they are able to purchase a home they otherwise couldn't qualify for through traditional means. The neighborhood wins because a distressed house was sold at market value. The educated real estate professional wins because they turned a bad situation into a situations where they created a profitable transaction for themselves. Understanding how to sell a home with no equity provides a valuable service to the entire economy.
About the REI Maverick, Phill Grove: Phill Grove’s claim to fame is that he has conducted over 1,000 short sales over the last 8 years, as well as 200 other residential & commercial transactions. More recently, Mr. Grove has become a highly sought after speaker and trainer in real estate investing circles nationwide, teaching his ’12 Ways to Buy and Sell Real Estate’ and most recently his ‘Assignment of Mortgage Payments System.’ The Assignment of Mortgage Payments system is designed to teach people how to sell a home with no equity. His Phillosophy (pun intended) is that “the biggest opportunities for wealth exist for those that solve the biggest problems during the biggest times of need, and there has never been a bigger opportunity than now to grow rich while helping others.” If you're interested in learning more on how to sell a home with no equity, then please visit www.REIMaverick.com today.
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