How to sell your home effectively (mobile home loans)

October 31st, 2009 admin Posted in realestate |

By byownersmls byownersmls

According to the National Association of Realtors, about 12% of home sellers decided to sell their homes without the help of a real estate agent. Since these figures do not include those sellers that put their homes on home listing databases, the percent is actually a bit closer to 21%.

Despite the large percentage of home owners that are deciding to sell their homes on their own, however, many choosing to sell their own homes are struggling a bit in our current economy. Just a few years ago, For Sale By Owner homes were practically selling overnight. Todays sellers, however, have to work a little hard to get their homes to sell. If you are trying to sell your home in todays market, these five simple tips are sure to help.

Tip #1: Determine the Right Price

If the price you are asking is far more than the value of the home, you certainly will never find a buyer. Therefore, it is important to do your homework and determine the proper price for your home. During this step of the process, you might want to consult with a real estate agent in order to learn the prices of homes in your area that are similar to yours.

Tip #2: Place Your Home on MLS

In the past, selling your home without a real estate agent was as easy as putting a sign in your yard and an ad in the newspaper. In todays market, you are going to have to cast your net a little further. By placing your home in an MLS, you will be able to reach more potential buyers and increase your chances of selling your home.

Tip #3: Stage the House Before Showing It

When you sell your home, you need to see it through the eyes of the buyer. It can be difficult to separate yourself from your home, so you may want to get the help of a friend who isnt afraid to be honest with you about what needs to be changed in your home. Make sure your home is clutter-free and smells fresh. Complete any necessary repairs and make certain every room is designed in the way that is intended.

Tip #4: Choose Renovations Wisely

While making some renovations to your home can really give its value a boost, going overboard can coast you more than you get back in return. Bathrooms and kitchens are good places to make renovations. Landscaping can also go a long way toward increasing the homes value and can be done fairly cheaply when you do it yourself. In addition, it will increase the curb appeal of your home, which will help draw in potential buyers.

Tip #5: Do Your Research

Before you get involved in selling your home yourself, make certain you are fully aware of what you are getting involved with. Selling your home on your own can be a time consuming process. Also, be prepared to hire a real estate lawyer once you have a serious buyer. This way, you can be certain you are following the proper legal procedures.

ByownerMLS brings houses home for sale by owner home, apartment, condo, find for sale by owner property, maps, low mortgage rates, advertising, appraisal, and title, Find homes with no real estate agent and save money.

How Foreclosure Works with Manufactured Homes

By Nick Adama

Although the main focus of the foreclosure crisis has been on residential homes and, increasingly, on commercial property, there is a large segment of the market that is covered by manufactured homes. Close to eighteen million people live in manufactured homes. The target market for many of these properties are people with low income who are otherwise unable to afford a single family house.

When these homeowners default on the home, there are a number of differences between the process of foreclosure used on a residential property and the process used to take back a manufactured home. State law may affect the creditor’s rights to a far greater extent, depending on what type of property the home is considered, where it is located, and what ownership rights the owners have on the land.

For instance, in many cases, individuals that own a manufactured home end up with two creditors if they borrow money to purchase the home. They will be paying the loan for the manufactured home, as well as on a lease or rental agreement for the land that is being used. Depending on if the owners default on the land agreement, or the home loan, different rights can apply.

Manufactured homes may be treated as personal property when they are purchased. Ownership is transferred through a certificate of title as if a car or other automobile was being sold. Creditors, in the case of a default, would be able to repossess the property, but would not have to go through a formal foreclosure procedure according to state foreclosure laws.

Other states, however, consider manufactured homes real property, and ownership is transferred through a deed recorded with the county recorder or clerk’s office. If the homeowners default on their loan, the creditor would have to go through the foreclosure process according to the laws of the state, either by filing a lawsuit (judicial) or providing the property public notices (nonjudicial).

To complicate matters further, though, state laws treat manufactured homes very differently in some circumstances. Many state statutes allow for the conversion of a manufactured home from personal property to real property. And how the home is treated may be different in terms of the credit transaction. Manufactured homes, even if treated as personal property, are usually taxed in similar ways as real estate by local authorities.

Courts also play a role in determining whether property is real or personal when it comes to manufactured homes, especially if there is a question of foreclosure or repossession. This usually revolves around the issue of fixtures — is the home so attached to the surrounding property that that it has to be considered a part of the real estate? If so, it will most likely be considered real property for the issue of default.

A big factor when it comes to the default on a loan of a manufactured home is whether it is treated as real property by any other type of state statute. For instance, if the home is sold under a certificate of title (personal property), but is taxed by the local government as real estate, courts will be more likely to consider it real property because of how it has been treated by other state actions. How the home was transferred in the past will be taken into account, but how it is currently treated may be more important.

The most important reason to determine if a manufactured home is real or personal is due to how the collection process will proceed in the event of default. The federal Uniform Commercial Code will generally be followed if it is treated as personal property, while state foreclosure laws will be used in the case of real estate. Homeowners may have an easier time defending the home depending on the applicable law.

Future articles will go into more depth as to the differences among states in how they treat manufactured homes, as well as how conversions are treated in different areas. Despite the large number of people living in these types of residences, the information on foreclosure or repossession of manufactured homes seems to be sorely lacking. But these homeowners need to be aware of the issues affecting their houses in the event they face a financial hardship and default.

Nick publishes articles for the My Personal Bankruptcy Lawyer website, which aims to teach borrowers how filing for bankruptcy will affect their lives. The site examines the various forms of bankruptcy, how to prevent filing, and the best resources borrowers can utilize if it becomes necessary. Visit the site today to learn more about financial setbacks, foreclosure, debt settlement, and more: http://www.mypersonalbankruptcylawyer.com/

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