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Ray's The Roof REI pays all closing costs and, in most cases, we do not use real estate agents to execute transactions. That eliminates fees associated with using a REALTOR®. Often, there is not a substantial difference between our offer and the net cash an owner would receive by listing their property with an agent. When listing with an agent, the owner will generally pay 6% of the sales price in agent fees and 2 to 4% in closing costs. Which can add up to a great deal of money. We usually close on a property within 10 to 21 days. The average time on the market for a house listed with an agent can vary from about 45 to 60 days in our regions, in addition to a 30-day escrow. Our all-cash offers with a fast escrow closings are often a good option for the owner-seller who benefits from a quick sale to cure their financial situation.
The first thing to know and be prepared for is the fact that an appraisal is a necessary part of selling a home or buying a home when a lender is involved. For lending purposes, the bank will consider the appraised value over the market value. For example, a house might go on the market for $200,000 and a buyer offers $150,000. If the seller agrees, both parties believe that the market value is around $150,000. What the bank will look at, however, is what the appraised value of a house might be, which potentially is a different number. The appraisal makes an educated guesstimate at what the property is worth and often decides what the home would sell for in the worst-case scenario an appraiser determines value by looking at important aspects of the home, such as the square footage and the overall condition of the house. Statistical data, like the number of bathrooms or bedrooms, can also greatly influence an appraisal and as comps in the area. A lender is simply not going to finance a loan without knowing this piece of important information.
An appraisal not only helps determine the value of your home; hiring an appraiser gives you direct contact with someone that can help you avoid problems in the future. As a requirement of the bank, one of the best things you can do is understand this process, which is far from glamorous but oh so, important, and prepare for it the best you can. Appraisals are a great way to give you and your lender peace of mind and ensure that everyone is getting a fair deal.
How can an appraisal potentially change your plans if you aren’t prepared? Often, the appraisal is not scheduled until a contract is signed; prices have already been negotiated and agreed upon. If the appraisal comes back with a completely different figure, the home buying process is derailed. According to the National Association of Realtors, each month about 1 out of every 10 real estate agents reports that low appraisal value damaged a home sale. It is best that you have an accurate picture of what your home could sell for by finding a qualified appraiser in your area before you list a home. A useful site is the Appraisal Institute, where you can search for appraisers in your area. Make sure you find an appraiser that has the right professional certificates. This helps to ensure that the price you are asking is not way out in left field and unrealistic. Additionally, usually the seller is the one who pays for the appraisal at closing, although know that often the buyer enlists one as well. According to the Cost Guide on HomeAdvisor.com, the national average cost for an appraisal by a licensed professional is between $300 and $600 and should require roughly two hours of inspection time to complete.
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During the course of a Real Estate transaction I was asked something I had never been asked before. I requested more details and as soon as the transaction was completed, I began doing research. I learned about a process some government agencies use keep funds that belong to private citizens. I don't like the sound of that and have decided to do something about it. By auditing government agencies around the country searching for unclaimed funds. We then locate the rightful owner of the funds. On on a contingency basis we file the claim, recover your funds and reunite you with them.This is a time sensitive matter since, if after a certain period of time elapses (varies State by State) and a request for disbursement of funds is not received by the agencies holding the funds, the agency gets to keep the funds. Not difficult to figure out why they are not very motivated to locate the rightful owners. There are no out of pocket expenses for you. We cover all expenses related to the claim until it is paid. We're PAID ONLY upon successful collection of your claim. For more details visit www.surpluscashrecovery.com