All posts by schatzi

Why Stamp Duty on Property Changes Can Benefit You

Back in 2008, there were widespread changes made to the traditional stamp duty on property laws. These were believed to be enacted in order to bring more people into the housing market, which they did, but they also left more people “upside down” in their mortgage and in financial trouble. However, now that it appears that much of the housing bubble is gone, the stamp duty on property changes can really help many people and if you are looking at homes in the lower end of the market, they can help you out a lot.Traditionally, stamp duty on property has been one of the major hurdles that home buyers in the United Kingdom have had to deal with because it is a fee that is payable to the government at the time of the sale and is not rolled into the mortgage. As the price of houses goes up, the price of the duty goes up, so much so that some people pay up to 5 per cent of the price of their home as duty.But the recent changes have made buying inexpensive homes a lot easier on the finances of many families and it is now possible to buy a piece of property without having to pay stamp duty on property or paying just a little (sometimes just 1 per cent of the property sale price). This doesn’t happen by accident, of course, and if you are looking to take advantage of some of these law changes, you will need the assistance of a stamp duty mitigation agent.Although the changes to the laws were made to make it easier for people to buy property, in reality they made it much harder because the laws are difficult to discern for the first-time home buyer and the duty often comes as a surprise well into the purchase process. But by getting help from an expert, you could be one of the thousands of people who are able to buy their home without paying tens of thousands of pounds in tax.Currently, there are discussions about raising the bottom end of the stamp duty on property threshold to 150,000 pounds, which would make even more properties available at better prices. With the goal of propping up the economy and creating more homeowners, this change will enable more lower-end homes to be sold, and there are even further exemptions for people who have never bought a home before.Any estate agent will tell you that in order to gain exemption from stamp duty on property, it is a good idea to talk to a stamp duty mitigation expert or someone who really knows and understands the stamp duty laws in your particular area of the country. Because each region is different, it is important that you speak with someone who has experience with buyers in your region and at the price level of home that you are buying. This is the only way that you can buy a home without being subject to this tax.

Great Ways to Find a Short Sale Listing Expert

If you are financially distressed and need to sell your home short, do not go to your local “listing specialist”! In this situation, you need a short sale expert – someone who understands the process and knows what will help your lender co-operate.A short sale listing expert does a lot more than fill out some forms, place your home on the MLS and stick a sign in your front yard. This expert understands the short sale process, what documentation to send the 1st mortgage, how to clear the 2nd mortgage, who the loss mitigators are, etc etc. A short sale is a lot more involved than any regular listing and sale.If you know a real estate agent, ask them what their short sale experience is. Have they received additional training? Do they keep a database of the loss mitigation contacts? Do they know the full shortsale and foreclosure procedure in your state? Do they know how a short sale can effect your credit compared to a foreclosure? I love my family doctor, but if I have a heart problem, I will see a heart expert – real estate should be the same.In some areas, there are more distressed property sales than other sales! In some areas of Des Moines, appraisals are becoming difficult because the only recent sales are foreclosures! Perhaps you have a friend or family member that has experienced a short sale distress. Ask them if they would refer their agent.The Internet can be a great source for an expert. Those of us that specialize in short sales love to blog about it. We are proud that we help people keep their homes instead of losing them! When we meet, I will consult with you and try to find a way to keep you in your home (if that is what you want). If we are unable to negotiate a short refi, loan mod etc, we can discuss shortsale. Did you also know that a foreclosure affects your credit FOREVER! You can qualify for a mortgage in a little as 2 years after a shortsale!Some investors will prey on those unfortunate enough to be in financial distress. Many times, the investor is unable to negotiate the short sale and the homeowner ends up in foreclosure. Good short sale experts can also have investors. These investors are often able to step in at the last minute to stop your foreclosure. Please beware, not all investors are the same. Beware of foreclosure rescue scams – help really can be FREE.

Five Things to Know About Making Property Listings Stand Out

When it comes to property listings, there are many factors which come into play when selling. The process can be daunting, but here are five helpful tricks to making sure your home or land is sold quickly.Get the Right AgentReal estate agents often specialize in different areas of property sales, such as residential, commercial, and land sales. Meeting and interviewing with various agents can help you find the right person to sell your home. A realtor who specifies in your particular property type will know how to list your place in unique ways.Sell the LocationThe central selling point of many places is often the setting. Making sure that property listings describe the location in accurate and creative language is important. For example, referring to a rural area with few convenient stores as the “serene, secluded countryside” sounds much better, and it markets to a specific audience.Appearances are EverythingMaking sure the home or land is in top shape will obviously help it to sell, but it can often be overlooked by the homeowner. An experienced agent will make sure to stage your home during open houses or advise you on the best ways to spruce up a piece of property. An experienced realty professional will also help you to highlight the unique features of your home and provide tips on how to bring out the best of your property. Showing potential buyers what their future home could look like is a great way to put your home at the head of the pack.Create a Marketing PlanConsult with your agent on their marketing plan for your home. How will they decide to advertise? What’s the going rate for homes in your area? How many open houses do you plan on having? These are important questions to ask when it comes to property listings. Working with your agent to prepare a solid plan on how to get your home or property seen and sold is vital. Good communication between both parties can spark ideas and creativity when it comes to getting your place sold.Do Your ResearchWhen you are ready to sell your home, do your research. Get recommendations from family or friends who have recently had houses on the market. When you find an agent that you would like to work with, look online to see their credentials. By looking at a particular realty agent’s site, you can see their current listings, as well as homes they have just sold.No matter your realty needs, finding the right person to list your property takes a bit of work. However, using these five steps will certainly make the overall process simpler and lead to an easy sell.