Resources for Homeowners - Full Price Offer Ninja ™

SELF-HELP TIPS for Homeowners

Relocating? Need to Sell Your House?

Here are some of your options when you are relocating and need to do something with your current house.

So, you found yourself relocating and aren’t sure what to do with your current house? It’s an unnecessary stress for many. But don’t worry – there are solutions that you can choose from.

If relocating, you always have the option to sell your current house. But did you know that there is more than just one way of selling? We’ve researched most common ways of selling your property after relocating!

Sell Your House Using a Realtor

Selling your house through a realtor is an option for those who don’t want to or don’t have the experience in house-selling. You get get to choose how much you want to be involved in the process, however, there are some pros and cons you have to consider if you wish to sell your house after relocating.

Pros:

Cons:

Sell Your House For-Sale-By-Owner

Selling your house independently will give you a chance to get more experience of the real estate market. This is a perfect choice for those confident in their selling skills.

Pros:

Cons:

Sell Your House To A Cash-House-Buying Company

Another option is to sell your house to a house-buying company that pays cash. This gives you the best of both worlds.

Pros:

Cons:

Rent Out Your House

If you don’t feel like selling your home is the best option now, renting out your house is an ideal alternative.

This might mean you will need to have a hands-on approach as you will become the landlord. Renting out a house would suit best those who are still staying in the area after relocation. However, there are options you can take such as hiring an extra property manager.

Pros:

Cons:

Tips For Renting A House:

Make sure you inspect the entire property and renovate what is necessary.
Pick the right tenants! You are able to run all necessary checks possible to ensure your future tenant is able to pay his or hers rent.
Get familiar with the landlord-tenant laws.
Prepare a ‘renting’ fund - make sure you are always able to afford any necessary repairs.
Hire a cleaning service before and after the tenants move out of the house.

If none of the above options work for you, Full Price Offer Ninja will be able to help by providing you the best of all – a full market-value offer, quick close, and no listing or showing hassles. You can get an offer in one day and close whenever you want.

If you need to sell your house fast and would like to get a no-obligation full-price offer click the link below to fill out the form and we will be happy to help answer questions you might have about the process whether you decide to sell your house to us or not.

Facing Foreclosure?

Has your ARM reset to a rate you can’t afford? Have you experienced some sort of financial setback? Are you a veteran facing foreclosure?

Don’t worry – you don’t have to foreclose your home. There are solution to your problem. In this article you will learn how to stop home foreclosure proceedings, how to avoid them and how to get help from the government, including help for veterans. I will closely look at all processes and help you get back on track fast. So, read on.

What Is Foreclosure?

According to Investopedia, Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property. Typically, default is triggered when a borrower misses a specific number of monthly payments

Types of foreclosure

There are two types of foreclosure – judicial and non-judicial

Judicial Foreclosure:

A civil lawsuit is formed against the borrower.
Everything is handled by the legal court system.
A notice of pendency is performed.
The court agrees or disagrees on the lender’s decision of foreclosure.
The notice of sale is published.
The process takes from 4 to 8 months.

Non-Judicial Foreclosure:

A deed of trust conveys an interest in real property to a third party to hold as security for repayment of a debt.
The trustee is able to begin foreclosure.
Notice of Default is recorded and the borrower is given a deadline to repay what he owes or object.
A Notice of Trusteee’s Sale is recorded and the auction is decided on.
The process takes up to 12 months.

How to avoid foreclosure?

If you have current difficulty in paying your mortgage, contact your loan servicer immediately. Federal Deposit Insurance Corporation states that you have to make sure you work directly with your servicer or counseling agency. Offers which are too good to be true are usually a scam. Stay safe and trust only reputable services.

You should also carefully study your budget – track your expenses and see which spendings you can minimize or eliminate.

How to get help from the government

U.S department of Housing and Urban Development presented several programs, implemented by The Obama Administration, which will help you avoid foreclosure. The list includes Making Home Affordable © (MHA) Program. Its strategy is to “help homeowners avoid foreclosure, stabilize the country’s housing market, and improve the nation’s economy.” Companies like Federal Deposit Insurance Corporation also work towards helping you make easy and affordable repayments to your home.

How to stop foreclosure?

UAC (Urban Affairs Coalition) created a Resource Guide which will help you stop foreclosure. The guide features up-to-date information on how to avoid and stop you from losing your home.

Here are some tips on how to stop foreclosure:

Contact the lender as soon as possible.
Consider loan modification, a repayment plan, a reinstatement, forbearance and any other options available to you.
Refinance your loan.
Sell your home.

If the fourth option seems the best, you’re in for a treat. Full Price Offer Ninja buys houses that are behind in payments or upside down and can help with foreclosure. We can solve your foreclosure problem and take that house off your hands in just a matter of days. To find out more click the link below to fill out the form and we will be happy to help answer questions you might have about the process whether you decide to sell your house to us or not.

CAN YOU SELL AN INHERITED HOUSE BEFORE PROBATE?

Individuals who ended up with an inherited home often can’t or don’t want to keep it. It could be their parent’s home where both parents are now deceased. One option is to put the house on the market but the question is, “can you sell an inherited house before probate?”

If a will exists chances are a family member who is close to the deceased is aware of this important document. It may be that a particular person is named as the executor in the will. The executor has the duty and obligation to see that the last wishes as outlined in the will are fully carried out. If property is involved in the estate, such as a house, this most likely will have to go through a probate process.

Individuals who have inherited a house may not realize that it has to go through a probate process They may attempt to put the house on the market for sale. If they use a Realtor to attend to this, an experienced agent will know that the house must go through the “selling a house before probate” process. This is in order for a sale to be legal.

The probate laws are in place to ensure that the wishes of the will are carried out as intended. This is the main reason why selling a house before probate is not allowed in many states. Check with your local attorney if there are any exceptions to this rule.

Can You sell an inherited house going through probate in NJ & PA?

The answer to the often-asked question is “Yes.” But you must adhere carefully to your state’s pertinent rules and regulations. The probate court will monitor every step and all aspects of the sale, and if you’re the executor, you, too, must monitor and approve all the terms of the sale. It can be a complex process, but understanding it will make things a little smoother.

Appointment of Administrator/Executor

If the decedent’s will designated a specific person as the executor and that person is willing to act in that capacity, then he or she is officially appointed as the executor. If on the other hand, no one has been designated as executor in the will, then the court and/or other relatives will appoint a near relative to act as administrator or administratrix.

Appraisal

The next step is to have the property appraised. But you must make sure the appraiser you choose is a licensed, reputable appraiser. The property must sell at a price that is at least 90% of the appraised value, so you need an appraiser who can get it right.

Sale

This is the step where the answer to “Can a house be sold while it is in probate in New Jersey NJ?” begins to become a reality. And you’ll start by having your agent list the house on a multiple listing service so that buyers will know it’s a probate sale.

An interested buyer makes an offer along with a 10% deposit, an offer which you can accept or reject. If you do accept it, the offer is then subject to court confirmation. You must submit the offer through your probate attorney to the court for confirmation. If everyone is in agreement, then a date is set for the sale to be finalized in court.

When the offer on the house in probate has been accepted and confirmed by the court, a Notice of Proposed Action must be mailed to all the heirs. This document states all the terms and conditions of the proposed sale. Heirs then have 15 days to review the notice and raise objections if they have any. If none of the heirs has any objections, the sale can go forward without a court hearing.

Overbidding

Now, here’s where it gets a little complicated. Before the court confirms and approves the original buyer’s offer, the judge will ask those present in the courtroom if any of them would like to bid on the property. If no one does, then the sale proceeds in the standard fashion mentioned above.

If, however, there is an overbid, the original buyer’s 10% deposit must be refunded before the new sale at the new bid price can proceed. When the overbid is accepted, the new buyer must then put up a 10% deposit, which is required to be a cashier’s check. This check for the accepted overbid deposit is presented to the executor/administrator at the winning bidder’s acceptance hearing.

Upon court confirmation and approval, a contract can then be signed. But it is a specialized kind of sale contract because it cannot have any contingencies, and escrow closes soon after the hearing, usually within 15 days.

As you can see, there are some complicated rules for selling a house while in probate. It is advised to consider contacting an attorney for more specific help.

We’re ready to help you reach your real estate goals and will be glad to answer any and all questions. Contact us by phone at

Can An Executor Sell An Inherited House Before Probate?

Individuals who become an executor may find different types of property that needs to be dealt with.

They first have to understand what their role as executor is.

Being an executor doesn’t mean this individual inherits any of the property. Sometimes an executor is named by the deceased. At other times may be appointed by the courts.

In most cases probate is needed. If so, then the executor must attend to this either doing it themselves or retaining a lawyer to do it.

One of the questions raised by an individual with this responsibility is, “can an executor sell an inherited house before probate?”

It may be that the inheritors of the will want the sale of the house done quickly so they can receive their share of the sale that was allotted to them through the wishes of the will.

Throughout most states the probate rules and regulations are pretty much the same. There are some differences that do exist in some of the states about selling an inherited house before probate.

In conclusion, the administration of an estate or trust can be a daunting task for some fiduciaries. While other fiduciaries will find the process to be more routine. The overview above is intended solely to highlight the general tasks that the fiduciary will have to undertake. However, with the proper guidance from an attorney or other professional skilled in trust and estate administration, the basic tasks of estate and trust administration, as well as any more complex issues that may arise along the way, can generally be handled with relative ease.

If you feel overwhelmed or simply want to be done with this process quickly, Full Price Offer Ninja will be able to help by providing you the best of all – a full market value offer, quick close, and no listing or showing hassles. You can get an offer in one day and close whenever you want.

OPTIONS FOR SELLING A HOUSE DURING DIVORCE

Going through a divorce is tough by itself. But selling a house during divorce just adds to the stress. Even under the best conditions, there are always challenges along the way. Sometimes, couples are forced to stay together financially due to home ownership. Below are a few options that can be provide a solution to your specific situation.

Pay It Off Or Get A Short Sale

While you have many choices, the best option is to sell. Holding onto the home doesn’t help in moving on. However, it might not be so easy in the current market, especially if you owe more on the mortgage than your house is worth. If this is the case, you’ll need to pay off the difference on the loan or go for a short sale.

Issues with Short Sales

The downside of a short sale when you divorce selling a family home is that both of your credit scores are impacted. In addition, you both could still be responsible for the difference the house sells for and the amount still owed on the mortgage. However, the bank could always decide to release you from the liability during the short sale.

Refinancing Your House After Divorce

Attempting to refinance your house after a divorce is another option as long as you’re not underwater on the mortgage. This only works as long as one of you agrees to let go of the house and the other, who’s refinancing, has good credit and income. If you plan to keep the home, you’ll want to make sure you can afford all of the expenses on your own.

One Spouse Keeps The Home

If your spouse keeps the home, don’t expect it to be smooth sailing in getting a mortgage for another home. Sometimes, it’s not so easy getting your name off a mortgage and qualifying for a second mortgage can be tough unless you have a high income. Your spouse might have to apply for another mortgage just so you can get your name off of it.

Consider Where You Are Going To Move To

Another thing to consider when selling a house during divorce is housing options in the community where you plan to live. If you decide to buy another home or rent, will your monthly payments be more or less? If you have kids, can you find similar housing in the same school district? What about the costs of moving or even renting a storage unit?

Consider Tax Consequences Of Selling A House During Divorce

You may be in love with the house now and want to stay, but what if during the next two years, you must sell it? You could end up with an expensive capital gains tax. You might be better off trading the house for other assets.

As if selling a house during divorce isn’t stressful enough, selling assets before a divorce can also be challenging. If not done correctly, there could be serious tax implications. Liquidating assets, though, should be a last resort due to taxes.

However, if you do liquidate assets, make sure you know what you’re dealing with when it comes to investable assets and the costs associated with it. Also, know the cost of a real estate asset and what the capital gain will be when you sell the house. Get a good business valuation and appraisal for any collectibles you may have. Don’t liquidate a 401K or fail to get fair price when you sell an asset. When selling a house during a divorce, again, you also don’t want to acquire a huge capital gain with what you sell.

Keep in mind, you don’t have to worry about taxes if you transfer assets back and forth with your spouse. Collaboration is when you and your spouse decide what something is valued at. In most cases, a judge does not get involved.

How To Sell Your House Fast

Many real estate agents agree that couples who argue, while selling a house during a divorce, often don’t agree when it comes to routine decisions about fixing up the house, repairing, and even listing the property. This could jeopardize a potential sale and worse yet, the home could fall into foreclosure. So, set aside your differences and sell the house or agree to turn the house over to your spouse or yourself.

Hire a Realtor to Sell Your House

Traditionally, many couples who divorce selling a home hire a realtor they pay a commission to. This is a good option in a hot market, but if there are more sellers then buyers you’d have to consider selling at a discount or being ready that the house will sit on the market for a few months before it will sell.

However, if you find yourself in a situation where time is of essence, consider Full Price Offer Ninja. Not only we can close fast and solve your problem, but we also can pay full market value which leaves you with the most cash. All you need to do is fill out the form to get the process moving.

TIRED OF BEING A LANDLORD?

Owning investment property can cause serious anxiety. There is constant home maintenance and hiring unreliable property management companies. There is also dealing with bad tenants. Sometimes leasing out your rental home isn’t a sound or lucrative decision. So what do you do when you’re tired of being a landlord?

There are several reasons a homeowner might be tired of being a landlord. One of the biggest reasons includes losing capital to maintain your property. Most landlords expect to pay for minor repairs, landscaping, and other consistent home maintenance. However, unexpected expenses can damper your perceived profit margin. Replacing faulty appliances or repairing a leaky roof can create a negative cash flow. The following are what you can do to change your situation.

Property Management Companies

Seek the services of third parties to manage your estates. The benefits are many, from saving time spent on answering tenants’ calls to hiring contractors to fix basic issues. But hiring property management companies can also be a more costly and unsatisfying solution to conflicts.

Expect to hear quotes ranging between 5% and 10% of what you collect in rent revenue”. Dealing with tenants is one of landlord’s most burdensome duties. When hiring property management make sure you vet them properly to avoid costly mishandling or neglect of your property.

Selling with a Real Estate Agent

This is a good option in a hot market, but if there are more sellers then buyers you’d have to consider selling at a discount or being ready that the house will sit on the market for a few months before it will sell.

Selling to a House-Buying Company

If selling your property is the best option when you’re tired of being a landlord, how do you sell your house most efficiently with tenants? In many circumstances, selling to a house buying company is the best option. Utilize the offers made by a house buying company. It’ll often give you the simplest and least stressful solution to many property problems. You’re able to sell to a house buying company without evicting tenants. Rid yourself of bad tenants and costly property management fees in a quick, easy sale without using an agent. House buying companies buy homes as-is, even those in poor condition due to disrespectful tenants.

The only downside to this option is that you’d most likely get a discounted price offer.

You also have the option of selling to Full Price Offer Ninja. We offer all the benefits of a house buying company, but also give you your asking price – no need to discount it. You get to close fast and keep the more of your money. All you need to do is fill out the form to get the process moving.