What's New

Archive for the ‘General’ Category

« Older Entries
Newer Entries »

Sell your Amarillo House FAST! | We can help you!

Tuesday, October 26th, 2010

Have you heard how long it takes to sell a house with a Realtor these days?  Some reports show 6 months… And that’s if your house is in good condition!  6 months of showings to picky unqualified buyers. 

 

If that doesn’t sound fun, give us a call.  We specialize in buying houses that need to be sold quickly, or that need work, or both.  We pay cash, close whenever you want, and pay the closing costs. 

 

When you compare our offer with what you actually walk away from the closing table using a Realtor you will be shocked.  If your house is in perfect condition, you want top dollar, and you don’t mind waiting for months then a Realtor will work fine.  If not, sell it to us, don’t list it!

 

Call us today and find out what other options you have.  Even if we don’t buy your house we can still give you some helpful ideas.

Call 806-359-SOLD (7653) today!  Or you can visit us online at sell my amarillo house.

Tags:
Posted in General | No Comments »

Sell Your Amarillo House | We need more houses to buy!

Monday, October 25th, 2010

If you need to sell your house in Amarillo or Canyon give us a call.  We are a local husband and wife team looking to buy houses in Amarillo and Canyon.  We can close on your house in as little as 3 days if you need us to. We are members of the Better Business Bureau. Here is what we offer:

 

  1.  We are super easy to work with! We make sure you understand all of your options.
  2. We pay cash!  You don’t have to worry about long drawn-out bank approvals.
  3. We close whenever you want! You are in complete control.
  4. We buy property in its as is condition. You don’t have to fix anything or clean anything!
  5. We don’t put a sign in your yard and try to sell your house to other buyers. WE BUY IT!

 

If you badly need to sell your house give us a call today at 806-359-SOLD (7653).  You can also visit us online and fill out a confidential request for us to bid on your house.  Sell Your Amarillo House

Tags:
Posted in General | No Comments »

Sell Amarillo House | Has our market slowed down?

Wednesday, October 13th, 2010

I was just setting here thinking about the Amarillo Real Estate market and business and life in general.   It occurred to me that our phones have been ringing a lot more than usual lately.  I was wondering why and this is what I came up with.  I can’t prove that these are accurate but I bet that they are.

  1.  The Amarillo Real Estate market has slowed down a little bit.  Now I’m not saying that it is time to panic, and I wouldn’t believe what the news media says, but I do think that things have slowed down.  If you need to sell your house you just need to plan on it taking longer.  Part of that has to do with the time of year.  School has started and the summer boom is over.  It will get even slower as we approach the holidays.  The end of the home buyer tax credit is another reason that things have slowed down.  The home buyer tax credit really did help our Amarillo market as well as the rest of the country.  Those were the good old days…  It is not really that a house won’t sell, because it will, it is just that it is taking longer and selling for less.  It has to be in better condition and marketed properly.  Finally, I think a lot of people are still on the fence.  Maybe they want to see what the economy is going to do.  Whatever the reason, they aren’t ready to pull the trigger and buy a home.

 

  1. People are tired of using Realtors.  You can have the best Realtor in the world but they still can’t guarantee that your house will get sold.  Realtors charge around 6% for their services.  They do a good job for the most part but it just takes them several months to get your house sold.  Sometimes it is because they are not marketing the property correctly or following up on showings, but other times it has nothing to do with the Realtor.  When you use a Realtor you can count on multiple showings.  Some people don’t want to keep their house neat and clean and be ready to show it with very little notice.  They also don’t want to make expensive repairs.  Most Realtors will want you to make repairs before they take on the listing.  For some people this is just not an option.   They need to sell their house much faster.

 

  1. People can’t afford their property.  This may be the number one reason that people need to sell their house.  Many people have no idea just how expensive it can be to own a home.  First you have your house payment, then property taxes (which are just about due), and then you have insurance.  These are the big three.  But don’t forget about maintenance!  It just flat out costs a lot of money to keep a house up and running.  Things break and need to be repaired.  All of these things add up.  I have talked to people before who decided to list with a Realtor instead of taking my offer.  Six months later they called me and told me that they finally got their house sold, but that after they paid their Realtor and paid their closing costs and made the repairs that they didn’t come out as well as they had hoped.  When they factor in 6 months of holding costs it is obvious that they would have been better off taking my offer and getting their money 6 months earlier. 

 

So the bottom line is this… our market is like the old gray mare… she ain’t what she used to be!  It is not as bad as it could be, all things considered, but it still isn’t great.  If you have a house that you need to sell quickly give me a call.  I can make you an offer the same day.  If you decide to accept my offer I can close whenever you want.  I pay all of the closing costs and handle all of the details.  I don’t ever require you to fix or clean anything!  You just sign and pick up your check and move on with your life.  If you are looking for a home buyer in Amarillo TX, I am your guy!  If you are even half way thinking about selling your home give me a call today at 806-359-SOLD (7653).  You can also get more information by visiting my website.  Sell My Amarillo House.

Tags:
Posted in General | No Comments »

Amarillo TX Real Estate Market. How long does it take to sell a house in Amarillo TX?

Friday, October 1st, 2010

I try to keep a close eye on our real estate market.  As a Real Estate Investor, I have to make sure that I know what houses are worth and how long it takes them to sell, which is just as important. 

When someone calls me to sell their house I like to give them options.  I not only give them a cash offer which I can close in just a few days, I also try to let them know about what their house would bring if they were to list it with a Realtor.  Then they can make a good choice based on the facts. 

It is usually pretty easy to tell someone how much their house is worth.  There are comparable market sales that help me determine that.  The harder question to answer is how long will it take to get the house sold. 

Right now in Amarillo it takes anywhere from 4 to 7 months to sell a house priced $200,000 or less.  You can figure that out by looking at the Months of Inventory in the chart below.  For example, look at the $70,000-$89,999 price range.  There is a 6.3 month supply of inventory.  What this means is that if there were no new listings that came on the market it would take 6.3 months for all of the current listings to be sold.  It is also a rough indication of how long it will take a house in that price range to sell.  It is not an exact science but it is pretty dang close. 

 

 

Sold

Average

Active Listings

Months

Listings

Per

Of
Price Class

Total

Month

Total

Inventory
$69,999 and Under

217

36.2

156

4.3
$70,000-$89,999

139

23.2

146

6.3
$90,000-$99,999

80

13.3

63

4.7
$100,000-$119,999

188

31.3

145

4.6
$120,000-$139,999,

203

33.8

151

4.5
$140,000-$159,999

137

22.8

157

6.9
$160,000-$179,999

97

16.2

91

5.6
$180,000-$199,999

96

16.0

86

5.4
$200,000-$224,999

74

12.3

64

5.2
$225,000-$249,999

68

11.3

71

6.3
$250,000-$299,999

69

11.5

99

8.6
$300,000-$399,999

61

10.2

93

9.1
$400,000-$499,999

14

2.3

47

20.1
$500,000-$699,999

6

1.0

32

32.0
$700,000-$999,999

3

0.5

27

54.0
$1,000,000 and Up

3

0.5

11

22.0
***Totals***

1455

242.5

1439

5.9
***Average***

$150,101

 

$203,192

 
***Median***

$129,000

 

$149,000

 

 

But remember, this is just a guide.  There are still free market forces at work.  If you have a very nice house that doesn’t need any work and you price it too cheap it will sell sooner.  If you price it too high and it needs a lot of work it will sell much later, if it sells at all.  There are houses all over Amarillo that have been on the market for a year or longer.  Many of these houses are not in good enough condition to be sold with a Realtor. 

In the end it really all boils down to condition and price.  If you price your house correctly you can expect it to sell in about 4-7 months if you use a Realtor.  Of course you will have to pay a Realtor fee of about 6%, plus you own closing costs of about 1%, plus buyer closing costs of 3-6%, and make any necessary repairs.  For some people it is better to take my offer and close the same week.  For others it is better to wait it out and use a Realtor. 

I can tell you this much, regardless of what the charts show, it has gotten much more difficult to sell a house in Amarillo.  Banks are looking for reasons not to make loans.  Buyers are expecting to find bargains and negotiate harder than ever.  They also hire inspectors and expect you to make a lot of repairs.  There just also seems to be more competition than ever.  Every month more and more foreclosed HUD houses come on the market that can be purchased for a discount.  This is stiff competition for you if the house you are selling needs work.

So how long will it take you to sell your house on your own or with a Realtor?  I would say pretty close to 4-7 months if you price it correctly and it is in sellable condition.   It may take longer or it may be sooner.  If you would rather have your money this week then let me make you an offer.  When you compare my offer with the amount that you would actually net if you used a Realtor, you will be very surprised.  If you want more information call me today at 806-359-7653.  Or you can check out our website at Sell My Amarillo House

 

Tags: , , , ,
Posted in General | No Comments »

We Buy Amarillo Houses – Why should you work with us?

Wednesday, September 29th, 2010

I know that if you are looking to sell your house that you have a lot of choices.  There are a lot of ‘We Buy Amarillo Houses’ companies out there.  I also know that at the end of the day, the highest bid is what you are looking for, and I understand that.  I want you to know that I consistently offer the most money of any investor in town.  But that is not the point that I am trying to make here.

If I were in your shoes I would probably feel a little overwhelmed.  I would want to get the best price for my house but I would also want to make sure that I was dealing with the right company.

I would like to share an e-mail that I received yesterday.   This lady had been trying to sell her house with a Realtor for months.  She had really gotten the run around!  She was shocked at how good of an offer I was able to make her and how quickly and easily we closed the deal.  I can go on and on about how I pay the most and how I am a member of the Better Business Bureau and how my deals close on time.  But really, what other people say about my company is more important than what I say about it.  So I am sharing this e-mail that she sent me so that you can see what she thinks.

Wade,

I was out of town on Saturday when my check arrived.  What can I say Wade?  You made everything so easy for us and when we had a question you were right there to answer it.  We cannot thank you enough.   We would not hesitate for one minute to recommend you.    We do hope you will find a family that will love the house as much as we did.   We moved there when I was in sixth grade and I was there until I got married.  Over the weeks when my sister and I would talk about the house and you, we both expressed the same thought, “Wade was a life saver for us.”    Do you mind if we write a review on your web site?  Thank you again and if you need anything else from us, please call.

L. Stephens

 

I cannot tell you how happy that makes me feel!  I have a ton of testimonials just like this one.  I have a list of references, including this person, who you can call and find out for yourself just how we do business.

Selling your house is a very important decision.  If you are going to sell it to a real estate  investor you need to make sure that you are dealing with the right people.  If you have a house to sell in Amarillo, Canyon, or Lubbock, give me a call.  Let me explain what we have to offer and you can decide if you want me to make you an offer or not.   You can call me at 806-359-7653. If you are a little shy but still want some more information you should get a copy of my free report “Sell Fast in a Slow Market, 6 Ways to Make Your House Disappear.”  It will help you understand if your house is marketable or not.  Click here for your copy!  Sell My Amarillo House

Tags: , , , ,
Posted in General | No Comments »

We Buy Amarillo Houses! If you need to sell your house, call 806-359-7653.

Wednesday, September 8th, 2010

It’s no secret that the real estate market has cooled off.  Even here in good ‘ole Amarillo Texas we have seen the housing market slow down.  Several years ago you could just put a sign in your yard and your house would just about sell itself.  That’s definitely not the case today.  Some houses are taking 6 months or longer to sell.  For some home owners waiting for months to get their house sold is just not an option.  If you need to sell your house sooner rather than later then give us a call.  We buy fixer-upper houses.  We buy pretty houses.  We buy just about every kind of house except mobile homes.  Here is what we offer.

  1.  We pay cash so we can close whenever you want.  In as little as a few days if you need to close that fast.  You are in complete control of the closing date.  There are no banks to complicate the transaction.
  2. We take the house as is.  You don’t have to fix or clean anything.  We take care of that for you.
  3. We pay all of the closing costs.  Most people don’t realize how much the closing costs on a typical transaction can add up to!
  4. We take care of all the paperwork and handle all of the details.  All you need to do is focus on your next move and then come sign and pick up your check.  We make it very easy.

Often people tell us that the biggest benefit we offer is the peace of mind that comes with knowing that your house will be sold for sure on a certain date, no if’s, and’s, or but’s!  Sometimes life can throw you a curve ball.  You get transferred with your job or you fall behind on your payments and want to avoid foreclosure.  Those are the times when you need to know for sure that you can count on your house being sold.  That is perhaps the worst thing about working with a traditional buyer.  So many times a buyer’s financing will fall through at the last minute.  Sometimes they just change their mind and back out.  We are not that way.  We close on time, every time.

So if you have a house in Amarillo, Canyon, or Lubbock that you need to sell, stop what you are doing and call me.  My web guy tells me that I need to also tell you to send me an e-mail or to visit my website at Sell My Amarillo House and so I’m telling you to do that.  But it’s just way better to pick up the phone and call me.  I’m a nice guy and I won’t try to force you to take my offer.  I can probably give you some ideas that you haven’t thought about, even if I can’t buy your house.  You can call me at 806-359-SOLD (7653) or toll free at 1-866-554-SOLD(7653).

Tags: ,
Posted in General | No Comments »

Sell your Amarillo House Fast- How do you know which house buying company to work with?

Wednesday, September 1st, 2010

I recently bought a house in Amarillo from a lady who needed to move closer to her children.  She was a really nice lady and I was happy to work with her.  When she first called me she was a little skeptical about working with a Real Estate investor.  When I drove out to take a look at her house I soon found out why.  I noticed a for sale sign in her yard and asked her if she had received any good offers.  She told me that it wasn’t HER sign, it was another investor’s.  She told me that she had signed a contract with this guy and she thought that he was buying her house.  As it turned out, he was just trying to sell it without buying it.  He wanted to be a middleman.  He put his sign in her yard and showed prospective buyers the house  but in the end, could not get it sold.  Now I understood why she was a little nervous.  Three days later when she signed the papers and picked up her check she thanked me for doing what I said I would do.  I went home and thought about it and it made me upset.  That’s why I’m writing this.

I get calls every month from people who tried working with some rinky-dink ‘we buy Amarillo houses’ company.  This investor made big promises but in the end, the deal didn’t close and the homeowner was left hanging.  They call me looking for help.  The problem is that many investors can’t get loans to buy houses, so they just try to make a quick buck by selling the house before they buy it. They just want to be the middle man.  They have no intentions of closing on the houses they put under contract.  It sounds crazy but it actually happens.  .  If you are selling to a Real Estate Investor, how do you know which company to work with?

You have got to make sure that you sell your house to an established, reputable company.  You need to make sure that they have the funds available to close and that they do indeed plan to close on the house  themselves.

Here are some things to keep in mind:

1.  Try to deal with only local companies.  This makes checking up on a company much easier.  I personally wouldn’t sell my house to someone who wasn’t local.

2.  Ask for and call references.  A good company should have plenty of satisfied customers.  I can give you a list of references a mile long.

3.  Check with the Better Business Bureau.  Just because someone has a ‘we buy Amarillo houses’ ad does not mean that they are a real company.

4.  Insist on using a local title company.

5.  Meet the person face to face if possible.  There are too many scams out there.  Meeting face to face makes it much harder to be scammed.

6. Ask lots of questions.  Don’t take anything for granted.

7.  Have a local attorney review the contract if anything looks suspicious.

8.  Don’t work with anyone who wants to put a sign in your yard and sell your house to someone else.  That is just ridiculous.  Why not just call a Realtor?

It is important to remember that not all real estate investment companies are bad.  When we write a contract on a house, we intend on closing that deal.  We have the funds available to buy it.  Sometimes we even advise people to do something besides selling us their house.  They just look at us kind of funny,  but that’s just how we do it.  We have to live and work here in this community with the same people we help.  We are very much a local company.  People can stop by our office for a cup of coffee anytime.  But the bottom line is that our deals close on time.  We do what we say we’ll do. That’s why we are still in business.

If you have a house to sell in Amarillo, Canyon, or Lubbock, give me a call.  I would be happy to make you an offer.  You can call me at 806-359-7653. If you are a little shy but still want some more information you should get a copy of my free report “Sell Fast in a Slow Market, 6 Ways to Make Your House Disappear.”  It will help you understand if your house is marketable or not.  Click here for your copy http://www.sellmyamarillohouse.com/index.php

Tags:
Posted in General | No Comments »

Sell my Amarillo house fast—Should you sell your house to a Real Estate Investor?

Thursday, August 19th, 2010

I get calls every day from people who want to sell their house.  Most of these people are tired of playing all of the Realtor games and they don’t want to wait for 6 months to sell their house.  They want it sold in a few days.  That’s why they call me.  Of course I want to buy every one of them, but sometimes it just doesn’t make sense to sell to an investor.  How can you know when selling your house to an investor makes more sense than selling by using a Realtor?  Well it’s pretty simple really.

If your house is in a nice area, in good condition, and (here is the big one) you have time to wait for a higher offer, then you need to list it with a Realtor.

On the other hand, if your house is in a marginal area, or it needs repairs, or you just want to get it sold quickly, then you need to let me make you an offer.  But a Realtor can get you way more money, Right?  Well, let’s take a look and see.

First of all, the nation average for discounting a home is 5%.  Most Realtors are going to charge you 6% to sell your house.  You can figure about 1% to pay your own closing costs.  You can also count on buyers needing you to pay up to 6% for their closing costs.  If you don’t believe me just ask around.  That’s the new way the Real Estate world goes around.  Buyers just don’t have the money to pay for their closing costs.  So you are losing around 18% to the transactional costs.  Then you get hit with a list of repairs from the new buyer.  This can add up to some serious money.  Even if you don’t pay the full 6% for buyer closing costs and you don’t negotiate the full 5%, you are still going to lose around 15%.  And you will sometimes have to wait up to 6 months or longer for your house to sell.  Many people aren’t in a position to wait that long.

People who sell to me have several advantages.

  1. They get to pick when they close. Since I pay with cash I can close in as little as 3 or 4 days or I can close in 2 months. But they get to pick.  Some people need to be able to know that their house will sell, for sure, on a certain date.  The timing in a Real Estate transaction can be just as important as the price.
  2. I take the house in it’s as is condition. That means that the seller doesn’t have to make costly any repairs.  They don’t even have to clean up.  This saves a lot of time and money for the seller.
  3. I handle all of the paperwork and details. I make things as easy as possible.  From writing the contract to working with the title company, I handle everything.  The seller can just focus on other more important things.

Now I know what you are thinking.  You are thinking that I offer half of what the houses are worth right?  I mean, if I were in your shoes I would be thinking the same thing.  So the million dollar question is, “How much do you offer for houses?”  I get that question a lot.  It depends on the area and the condition of the house.  I do have to get the house for a price that allows me room to fix it up, put it back on the market, and babysit it until it sells.  So yes I have to buy at a discount.  But when you compare my offer  with what you would actually NET (walk away with) if you were to sell using a Realtor, you would see that my offers are very reasonable.  I am doing the job of a general contractor and a Realtor all in one.  If you were to add up what you would really spend if you were to call a contractor to make repairs and then sell using a Realtor, you would see that selling to me is not such a bad idea.  And the big bonus is that you can have your money now instead of 6 months down the road.

If you are still on the fence, you should give me a call.  I would love to visit with you.  You can call me at  806-359-7653.  You should also get a copy of my free report “Sell Fast in a Slow Market, 6 Ways to Make Your House Disappear.”  It will help you understand if your house is marketable or not.  Click here for your copy http://www.sellmyamarillohouse.com/index.php or better yet, just call me.

Tags: , , ,
Posted in General | No Comments »

Real Estate Amarillo TX. How to know when to list with a Realtor or sell it yourself.

Wednesday, July 28th, 2010

Every month I get this question probably more than any other.  “Do I need to use a Realtor to sell my house?”  Like so many questions in life, the answer is…. well…it depends!

If you are selling your house you must first begin by asking yourself who will buy this house?  What kind of buyer will I be looking for?  If your house is in great condition and in a nice area you can be pretty certain that you are going to sell to a homeowner.  In this situation I think you are crazy to try to sell it on your own.  Here’s why.

  1. Realtors can usually make the house bring about 10% more than you can.  They charge you 6% to sell it, so you do the math.  Plus they do all of the work for you, which is the best reason of all to use a realtor.
  2. A good Realtor, and I mean a good one, is an expert on the entire house selling process.  You want them in your corner.  They can save you time and money and help you avoid a lot of mistakes.  Most transactions are not too complicated.  Sometimes however, a transaction can become very difficult.  It is when things start to go wrong that you really need an expert in your corner.  When the ‘fur starts to fly’ a good Realtor is worth his or her weight in gold.  Realtors can also help you price your house correctly and give you advice on how to stage it properly.  When a house is priced right and staged correctly it is much more likely to sell.
  3. When you list with a Realtor, your house gets more exposure to potential buyers.  Realtors enter your house into the Multiple Listing Service, also known as the MLS.  This computer database makes your house available to every Realtor in your area.  Now you have hundreds of Realtors working to sell your house.  Every time a Realtor searches for a house in your price range they will see your house.  All of this exposure will help your house to sell in less time and for more money.
  4. Realtors have all of the buyers!  Well, maybe not all the buyers, but most of them.  When most people decide to buy a house, they call a Realtor.  They are too busy to look at all of the houses on the market.  They need a Realtor to help them narrow down the list.  Besides helping them find the house, home buyers need Realtors to help them obtain financing, negotiate the contract, meet inspectors, and take the deal all the way through closing.  That is why buyers use them.  When you list your house with a Realtor you have access to this huge pool of buyers.

There are a hundred other reasons why it just makes sense to use a Realtor to sell your house.  The bottom line is that Realtors are professional house sellers.  They can sell your house faster and for more money than you can on your own.  If you are serious about selling your house and your house is in good condition, you should consider calling a Realtor.

So when is it not a good idea to use a Realtor to sell your house?  Remember the first thing that you need to do?  Think of who will be buying your house.  What type of buyer will you be looking for?  What if you can’t sell to a homeowner?  In some cases it may be better to sell to an investor.    So you ask, when is it best to skip the Realtor and call an investor?

  1. Your house needs a lot of work.  If your house needs too much work, you will probably end up selling it to an investor.  Homeowners do not have the desire or ability to make too many costly repairs.  Even if you find someone who is willing to do the work, the house will not pass FHA inspections.  This is a real deal-killer.  Most homeowners want a house that is in good condition and is move-in ready.  There are plenty of nice houses on the market to choose from.  Under these circumstances, you need to sell directly to an investor like me.  I buy properties in their ‘as-is’ condition.  You don’t need to fix anything or clean anything.
  2. Your house is not in a good area.  Some low to middle income areas have been hit especially hard by the recent lending crisis.  There are plenty of people who will want your house, but not too many that can qualify for a new loan.  Most of these people will want you to owner-finance your house to them.  If you own your house free and clear this may be an option that you should consider.  If not, you may end up selling to an investor simply because you cannot find a qualified buyer.
  3. You need to sell your house quickly.  One of the biggest problems with using a Realtor is how long it takes to get your house sold!  In many areas it is taking between 6 months and a year for a Realtor to sell a house.  That’s a long time.  Some people need to sell much sooner than that.  This is when you should consider selling to an investor like me.  I can close a deal in as little as 2 or 3 days, or longer if you want.  Basically, we can close on whatever date you choose.  Sometimes people face situations where a quick sale is very important.  There is nothing quick about using a Realtor.
  4. You fit two or more of the above scenarios! If you fit more than one of these scenarios I can tell you right now that listing with a Realtor is a waste of time.  For example, your house needs a lot of work and you need to sell it fast.  Or if your house is in a not so good area and it needs work.  You get the idea.  If this is the case, you need to call me before you list with a Realtor.  I can save you time and a lot of trouble.

In these situations, you need to realize that if you list with a Realtor, you will probably still end up selling to an investor like me.  This really stinks.  I cannot pay extra just because you have it listed.  Why not save the 6% that most Realtors charge and put that in your pocket?  Most home buyers will need you to pay an additional 6% in closing costs.  If you sell to an investor like me, you don’t have to worry about this.  I pay all of the closing costs.  Here is what you should do….  If you think you may have a hard time selling to a homeowner, or if you need to sell fast, then give me a call.  Let me make you an all cash offer on your house.  If my offer is not right for you then I can recommend a good Realtor based on the location and price range of your house.

I hope these ideas are helpful.  As you can tell, I think that you have two choices.  Either list with a Realtor and sell to a homeowner or sell directly to an investor.  From my experience, people who try to sell their house on their own usually don’t have very good luck.   You have to decide who is most likely to buy your house… a home buyer or an investor.  If you are having trouble deciding, give me a call.  I would love to visit with you.  You can call me at 806-359-7653.  You should also get a copy of my free report “Sell Fast in a Slow Market, 6 Ways to Make Your House Disappear.”  It has a ton of good information in it, and it is F-R-EE!  Click here for your copy http://www.sellmyamarillohouse.com/index.php

Tags: , , , ,
Posted in General | No Comments »

How to stop a foreclosure in Amarillo. Amarillo home owners facing foreclosure fight back against greedy banks.

Wednesday, July 28th, 2010

A new day has dawned in the land of bank foreclosures.  Homeowners are arming themselves with information and fighting to prevent foreclosure and keep their homes.

In the past, many homeowners simple ignored letters from their bank and watched helplessly as their house was auctioned off.  Well not any more.  With all of the free information available on the internet, homeowners now have turned the tables on banks.

As it turns out, homeowners now have more rights than ever before.  A great majority of those who fight back actually achieve some level of success.  Many are able to keep their homes and avoid a foreclosure all together.  Foreclosure help is just a click or phone call away.

We work with people facing foreclosure in Amarillo and Canyon.  What we have seen lately has been amazing.  People are educating themselves and fighting back.  And they are getting great results.  It has made our jobs so much easier.

We start out by helping educate homeowners on their foreclosure rights.  In the past, we had to really try to educate people and then get them to take action.  Now we just point them in the right direction.

We help people avoid foreclosure in one of two ways.  First we show people how to do a loan modification or a forbearance agreement so that they can keep their house.  We don’t charge anything for this.  If that doesn’t work we can then offer to buy the house so that the homeowner doesn’t end up with a foreclosure on their credit.  Even if they owe too much we can usually still work a short sale with the bank and get it done.

When it comes to stopping a foreclosure, the creative possibilities are endless.  Where there is a will, there is a way.  It is important to start by understanding the foreclosure process.  This is a very important first step.  In the end, most experts agree that homeowners have 5 basic options to choose from.

1. BRING THE LOAN CURRENT

This is also known as a reinstatement.  It means that the loan is brought current by paying the total amount past due.  Most banks will help you find a way to do this if you are able to start making payments and can afford to pay extra towards the amount you are still behind.

2. WORK OUT A FORBEARANCE PLAN.

Think of this as pressing a giant pause button.  A forbearance agreement is a formal, written agreement between you and the bank to reduce or suspend monthly payments for a specific period of time.

3.  WORK OUT A LOAN MODIFICATION WITH THE BANK.  A Loan Modification is when the bank agrees to change the original terms of the loan.  This gets the loan reinstated and lowers the monthly payments.  If the mortgage is an adjustable loan, the lender might freeze the interest rate before it increases or even lower the rate.  A lender might also extend the amortization period.  Loan Modifications are a great way you to permanently lower their house payments and keep their house.

4. SELL THE HOME

If you have enough time to work and there is equity in the property  you can sell your house to a homeowner.  If there is not enough time or equity you can sell your home to an investor.  Many times it may be necessary to do a short sale.  In a short sale transaction, a bank agrees to allow a homeowner to sell a house for less than the balance of the note.  In return, the homeowner is released from any liability.

5. FILE FOR BANKRUPTCY

It is important to understand that a bankruptcy does not prevent foreclosure by itself.  It only delays the foreclosure process.  If you cannot resume making regular payments then a bankruptcy just buys you more time.  This option is only good if your financial situation is about to improve.  Make sure to find a good bankruptcy attorney if you choose to file for bankruptcy.  Even then, proceed with caution.  Many bankruptcy attorneys who are out to make a fast buck will often recommend bankruptcy even though other options are available.   Homeowners sometimes end up losing the house in the end any way because they still can’t afford the payments.  Now they have a foreclosure and a bankruptcy on their credit.

If I could tell homeowners one thing, it would be to just take some form of action.  There are still a lot of people who just wait until there is no time left.

Amarillo homeowners looking to stop foreclosure, or wanting foreclosure assistance can call us at 806-359-7653 for a free consultation. We offer solutions such as loan modifications, short sales, aggressive listings, cash offers, and a variety of other services.  We educate homeowners on the foreclosure process.  To learn more about how you can avoid foreclosure and save your home and credit get a copy of our free report “5 Fastest Ways to Stop Foreclosure” at http://sellmyamarillohouse.com/foreclosure.php Or better yet, just pick up the phone and call us today!

Tags: , , , ,
Posted in General | No Comments »

« Older Entries
Newer Entries »
Better Business Bureau LogoAmarillo Chamber of Commerce LogoTwitter LogoGoogle Plus LogoFacebook LogoYouTube Logo