This is probably the most common reason why your home won’t sell, especially if you’re not willing to come down on the price. To drum up business, banks and other lending institutions are willing to give homeowners second, or even third mortgages, that exceed the actual value of the property. Then, when the homeowner wants to sell their house, they need to receive the full amount of the mortgage in order to pay it off. So then, the seller needs to find a buyer who is willing to pay more than the actual value of the house. Obviously, most people who are in the market for a house are savvy shoppers who refuse to overpay. So, unless you can come down on the price, your house is going to be vacant for awhile.
Make sure your site looks nice and is easy to update. An old http://thelittlehousecompany.com/page/Sell-Your-Own-Home-Privately-Online-Homes-Flats-Pr/384/ website that is from 1995 is not going to make your potential clients feel like you are up to date with your real estate marketing.
Pretty simple once you ingrain it into your life. But like anything worth while… you need to work at it at first… but once you set it into your daily life… it is soooooo easy.
Here the lender may require cross collateralization and a lower to loan to value ratio. However, these might be arranged very quickly and more over borrower needs to submit little documentation to be approved for loan. Thus you can avoid major complications when you acquire such loans.
It’s now a more difficult task and more expensive to borrow money than it was only a year ago. New mortgage fees have kicked in for people with low or marginal credit scores, bumping up the cost of their mortgages by thousands of dollars. You might want to consider some serious efforts to raise your credit score, if your below 700, before you get into a mortgage.
Anyhow, I’ve gone on way longer than I thought I would… but that is the basic 5 step system I used to finally get out of my rut of in-action… and still use to this day to always progress toward my targets.
Foreign countries also mean foreign languages. Your readiness in learning a new language or making an effort to communicate with a person who has an entirely different language will be a challenge. So, you need to consider and reconsider if you want to live with this situation.
There are far too many factors in buying a home to discuss in this quick article. If you are long term then now is a great time to buy a home. If you are an investor the risks will always be there, but the risk is much less now than it was a year ago.