When it comes to real estate, 9 out of 10 buyers look for properties online. With the Internet reducing travel time and distances to our fingertips, it makes sense to bring out property sale to a wider market. A well-planned and executed listing online could make a difference by creating an impression in the eyes and minds of potential buyers sitting across many cities in front of a computer or a mobile phone.
Here are few simple and time-tested strategies for listing properties and lands for sale online:
Photos: Many good quality photographs, taken from different angles attracts attention. A couple of decades or so back, there weren’t many options to take good photographs. Times have now changed and so have the way in which real estate is being marketed. Whether you are selling your own land or you are into the realty business, placing drone shots would certainly attract a lot of potential buyers. Take enough photographs of amenities around as well. Photographs of the neighborhood are also crucial. People make decisions to buy lands/homes also based on how safe the neighborhood is.
Detailed description: Once the pictures have attracted the attention of a potential buyer and he or she clicks on the land listed for sale, it is important to give all relevant details that are basic and vital for a buyer to make a decision. Remember most buyers are looking at multiple or sometimes hundreds of pictures online and the details provided could be the one that makes the buyer proceed one step closer to strike a deal—details like total area, buildable area, sitemaps are crucial when listing a land for sale. Most websites also allow uploading of documents. All these put together can interest the buyer and helps them assess the property and take one more step to shortlist the said land on sale.
Choosing the right website: To ensure that the property gets maximum visibility, choosing the right website to display your ad becomes crucial. Identifying sites that specialize in the type of land that is being sold is the best choice so that there are genuine buyers who are looking for exactly what is being sold.
Impress the buyer: Customizing the property listing with correct tags and keywords to be visible to the probable buyer is very crucial. With the right information and pictures, it is more likely to catch the attention of a potential buyer
Stay patient: Online websites have a huge database of properties. Once your listing reaches the website and its database, the probability that the listing will get an immediate response is not very high. Keep updating the listing with newer pictures. Moreover, make sure that the price quoted is competitive so you get a good deal on your land sale.
A reverse mortgage is a type of loan that allows homeowners to receive payments on their house as opposed to them making payments to the lender. At first glance, this option seems too good to be true. But, before committing to it, there are some nitty-gritty details that people must consider when opting for this type of financing. So, here is some information regarding the pros and cons to consider when getting a reverse mortgage.
Advantages
Disadvantages
A reverse mortgage is a loan that allows individuals older than 62 to improve their financial well-being. They can convert part of their home equity into lump sum cash, fixed monthly payments, or line of credit, according to their preference. The money can be used to pay for medical bills, in emergencies, or to pay off a mortgage. Here’s what you should know about reverse mortgages in case you’re looking for one.
How much can you borrow?
For reverse mortgages, the loan amount can’t exceed the value of the property against which it is borrowed. Federal regulations require lenders to ensure that the loan amount doesn’t exceed the value of the house by structuring the transactions accordingly. Additionally, these regulations state that the owner/borrower is not liable to pay off the balance amount in case it exceeds the property value.
How are reverse mortgages paid for?
A reverse mortgage is payable when the borrower sells the house, relocates permanently, or dies. Unlike forward mortgages, reverse mortgages don’t need the borrower to make any monthly payments. They are only liable to pay interest on the money received, which is rolled back into the loan balance. While the owner gets to keep the title to the home, their home equity reduces over the loan tenure.
Who can take a reverse mortgage?
This type of loan is ideal for seniors and retirees whose net worth comes mostly from the value of their home. Seniors who don’t qualify for a home equity loan or can’t refinance due to limited cash flow or poor credit can opt for reverse mortgages. Home Equity Conversion Mortgage (HECM) for purchase is a reverse mortgage that allows seniors to buy another property. That said, it is complex, and you should study the risk factors before getting one.
What are the risks associated with reverse mortgages?
Reverse mortgage scams are not unheard of. Unreputable vendors could offer to help seniors secure reverse mortgages by undertaking house repairs. They don’t provide quality results and get away with the homeowner’s money instead. For spouses living together in a home with only one spouse named as a borrower on a reverse mortgage, the other spouse can lose the home if the borrowing spouse dies first. Besides, reverse mortgage lenders charge fees and closing costs and may also charge mortgage insurance premiums for federally-insured HECMs.