THIS ISSUE: Avoid End-Of-Month Closings / Mortgage Brokers ARCHIVES: www.privatelist.com/newsletter.htm AVOID END-OF-MONTH CLOSINGS If you have the option, arranging a non-traditional closing and possession day for your real estate transaction can save you a lot of potential headaches. Registry offices, moving companies and real estate lawyers all tend to be their busiest at the end of the month (especially in summer), increasing the chance of delays in the processing of your paperwork and the delivery of your keys - and furniture! So if you can possibly do it, select some other time during the month for your closing. Taxes, mortgages and utilities payments can easily be adjusted to suit, and you’re much more likely to have things complete on schedule. By choosing to complete during a slow part of the month, you may even be able to obtain slightly lower bids on, say, moving services. MORTGAGE BROKERS As a home-seller, you can help protect against deals falling through by encouraging prospects to pre-qualify for their financing or at least review the mortgage basics presented through our mortgage page. One of the most vaulable pieces of advice you’ll likely encounter is: - the idea being that lenders are often able to offer interest rates substantially below advertised levels. This fact is critical for you too, as even a half-percent difference in rates might determine whether or not your buyers can complete their offer on your house. Of course, not every buyer is a hard-nosed negotiator ready to take on the money-men, no holds barred. But what if there were a way to have the bankers come to the buyer, tin cup in hand? Enter the modern mortgage broker. Far from being an expensive, back-alley shark, preying on those with no money and no credit, todays reputable mortgage broker can often secure extraordinary savings for ordinary borrowers. Center-stage is their ability to offer your anonymous mortgage application electronically to several - perhaps dozens - of lenders, who then engage in a blind-bid competition for your business. The result can be a superior combination of low rates and attractive terms that can save your purchaser thousands of dollars over the life of their loan. Better yet, the service, for borrowers in good standing, is usually FREE, with the broker being compensated by way of a finder’s fee from the winning lender. As a seller, familiarize yourself with the services offered by a few brokers in your area (see your Yellow Pages), and mention two or three firms to prospects who come through your home. Then, when it’s your turn to buy, include mortgage brokers in the hunt for your best financing option. Here are links to a few possibilities:
FRIENDLY REMINDERS . . . Are the thousands of dollars you'll save by selling privately worth, say, an hour each week-end, spent reviewing your progress to date and mapping out your continuing campaign? It's important to maintain an active marketing focus until your property is sold. Therefore, each e-mail version of this newsletter links to a series of reminders, tips and tools that lead to a sale! To access these resources, press here.
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