Let's share some idea's.
Similar to the process of getting a mortgage or purchasing a home, selling a property has several steps and details to be aware of.
The following simple checklist will help you gather your thoughts before you start interviewing Milwaukee real estate agents about selling your property.
Define Why You Need to Sell
Understand The Economics of Selling a Property
Plan Your Selling Strategy
What is a Short Sale?
Many homeowners have found themselves in a situation over the past few years since the real estate crash where they owe more on their home loan than their property will appraise or sell for, yet they are still in a position of needing to sell due to a hardship, change in employment or lifestyle.
A Short Sale is one of a few alternatives to foreclosure where the seller and bank negotiate the terms of selling the property for less than the amount owed on the mortgage. Banks choose to negotiate a short sale because it typically saves them time and money as opposed to going through a lengthy and sometimes costly foreclosure process.
Some States allow for Renovation Loans (like the FHA 203K renovation loan in Wisconsin) which allows borrowers to finance additional renovation costs into a loan amount that may be needed for financing, basic cosmetic upgrades, fresh paint, new carpet, cabinets, kitchen remodeling, etc. In Wisconsin, the FHA 203l loans, allow for buyers to buy foreclosures and short sales that are vacant due to any rehab work needed to make the property move-in ready.