Sell Your Real Estate Notes

People sell real estate notes to raise cash quickly. A real estate note is just the loan document created when you financed the sale of your house or investment property. It could be a mortgage note, or a land-contract or contract-for-sale. The point is that the buyer is making payments to you, and you want to cash in.

You can sell the entire contract, or just a certain number of payments if you want. The buyer of your property will have the same terms and payments. He'll just be making those payments to somebody else.

Selling real estate notes can be an intimidating process. You know you won't get the full face value for your note, but will there be other fees you have to pay too? How do you know if the buyer is reputable? What is a normal discount on a note? Here are some guidelines to follow:

1. No upfront fees. If they ask, go someplace else. You should be able to find many note buyers who will check your buyers credit and give you a quote without charging you.

2. No other fees, with a couple exceptions. The buyer has already figured his expenses before making the offer, so there are only a couple fees you should have to possibly pay. First, you may have to pay for the title policy, if there are problems with the title that prevent purchase. Second, if the property appraises at less than the sales price, you may have to pay for the appraisal. You should only pay exactly what these cost the note buyer though.

3. Be sure that the note buyer gives you a written purchase agreement with the purchase price and contingencies. Ask questions about anything that isn't clear.

4. The note buyer should check the credit of your property buyer upfront. Unscrupulous buyers can quote one price initially, and then lower it later, using the excuse of the property buyer's bad credit score. This is called "bait and switch," and it isn't ethical.

5. Contact several note buyers for quotes. You'll need to provide information like the type of property, sale price, payment amounts, current balance, etc. They should respond within a day or two.

6. When you get a quote you like, you'll have to send copies of the Mortgage or Deed of Trust, the Note, the closing or Settlement Statement, and the Title Policy. If there is no recent appraisal, they will usually arrange for that.

7. Processing time varies, so ask. Usually, once you agree to the offer and send the documents (if done by mail), you can expect to receive a certified check or electronic transfer to your account within two to three weeks.

Get Top Dollar When You Sell Real Estate Notes

Notes with a balloon payment get a higher price. "Seasoned" notes sell for more too. Those are notes that have had payments made on them for a while. Some note buyers will buy new or "unseasoned" notes, but if you can wait until six payments have been made, you're likely to get a much better price.

Higher interest rates and shorter loan periods will get you more money too. This is something to consider before you sell the house, if you think you might sell the note in the future.

You can sell second mortgage notes, and other second-place real estate notes as well. Note buyers will look at these differently though. The first and second place notes can't add up to much more than 70% of the value of the property, or you'll be looking at a steep discount

Discounts, by the way, will almost always seem steep. It is common for note buyers to pay 20% to 30% less than the current balance on the note. I'll let them explain why. Suffice it to say, they need to make money on the deal, and you should be sure you have a good use for that cash before you sell those real estate notes.

Top 7 New Home Trends

New homes are the top tier when it comes to home buying because they afford you the option to customize your home to your liking with upgrades and you get to be the first owner of the home. As the real estate market continues on its path to recovery there are many home builders who are now reconsidering what to include in a new home's standard features list.

Many of these newly included standard features previously served as pricey options so new home buyers today are getting the latest in creature comforts without the heavy price tag. Check out seven of the latest new home trends and keep this list handy as you browse new homes to see what's included in the builder's standard features list.

Granite Countertops and Undermount Sinks in Kitchen and Baths - This premier touch surface of high end homes can be seen on the standard features list of townhouses and other moderately priced properties nowadays. A secondary benefit to granite countertop surfaces is the undermount sink which means you won't have any sink edges rising up past the countertop creating a very clean, modern look.

Living Room Evolution - Living rooms used to serve as the crucial gathering room but today's homeowners tend to gather in the kitchen instead. If builders are using a floorplan that includes a living room you can expect it to offer features unseen in living rooms of the past like ethernet wall ports and home theater system niches to hide home theater hardware.

Solid Wood Front Doors - The cold steel front door is more frequently being swapped out with the vastly more attractive solid wood door. Solid wood doors come in many styles ranging from intricate glass detailed doors to solid wood doors reminiscent of those seen in craftsman home design.

Hardwood Floors - During the middle and late 20th century it was all the rage to have carpeting throughout your home because it was a softer walking surface and kept the floors warmer than hardwood and tile during the winter. Now that radiant floor heating and the demand for low maintenance flooring have become more common it's expected that hardwood floors will replace carpeting in high traffic areas like foyers, hallways and family rooms.

Stone Exteriors and Accents - Vinyl siding is very low maintenance and styling options have grown in recent years. Even so, full stone exteriors or stone accented exteriors are hot because they give a more substantial curb appeal to a home and help break up the monotony of some home designs.

Solid Interior Doors - An increasingly popular trend in new home design are solid interior doors. Solid interior doors are different because they create a stronger sound barrier between rooms and are more durable.

Nine to Ten Foot First Floor Ceilings - Feeling cramped inside a home is the number one reason homeowners opt to move up into a larger home. One way builders are countering this concern is to raise ceiling height by one to two feet bringing the total floor to ceiling distance to nine or ten feet. This creates a vastly more open space and the cost to builders is minimal.

Utilizing this list of the seven latest new home trends, many of which can now be found standard in new homes, you will have the distinct advantage of buying the most house for the money and owning a home that will require few, if any, updates should you decide to sell in the future.

Property In Liverpool

Property investment in Liverpool, brings you onto the doorstep and into the vibrant community and vast landscape of property offerings in the big metropolitan city of Liverpool. Here, there are real cultural and estate movements underfoot. A whole range of physical, economical, social and environmental changes are happening, to revitalize this historic city . It is breathing life into what the European commission has toted typically, as a socially deprived neighborhood and community. The time is now for prospective homeowners, investors, developers and even non-resident investors to get involved to optimize this growth and initiative, by investing in property in Liverpool.

True examples of this are The Liverpool Neighbourhood Regeneration Programme (LNRP) and affiliated initiatives that are transforming the inner city core, from heart to outskirt. The Liverpool City Council describes it as an innovative approach to tackling the problems faced by the most deprived communities in the City. Drawing also on the European funding or approximately £34million from the Merseyside Objective 1 Programme, this area will see a definite upswing, as different players start to address key regeneration priorities. This will certainly drive property values up and owning property in Liverpool becomes a smart investment decision, almost overnight!

This has huge application and implication for property development and property investment in the city of Liverpool, off-pan purchases, buy to let and other iterations to balance your investment portfolio. The implied growth and new development projects infuse into this local economy, will translate in higher property values and potential for profit, especially if you get in early.

There are many government-assisted housing projects, choice based let, housing allocations, rent, resale and new developments in town and outskirts, as well as surrounding areas alike. Liverpool is known for its shopping, waterfront and impressive architecture, and yes of course, do not forget the sports! From Albert Dock, Church Street and Bold Street to Paddy's Market, known as the birthplace of The Beatles and the home of Liverpool Football Club, you have lots of neighborhoods and property in Liverpool, to choose from.

It is known throughout the world as one of the most popular places in England to visit and they have a plan in place to become the first city of offer totally free internet access ‘on every street corner’ – being totally connected and free of charge – a modern icon. Chosen as the 2008 European City of Culture Liverpool also offers lots of short and medium term property investments options, within easy reach of even the non-resident property investor. It is hard to imagine anyone not wanting to be part of the pulsing UK city and choosing more often to own property in Liverpool, even if not for their own residential purposes, but as income properties.

Property management and residential let in Liverpool, is very popular. This great UK city sports and specializes in affordable housing, making it a priority and a buy to let paradise. Its slightly bigger neighbouring city, Manchester, is also attracting lots of attention, but at the same time also local opportunity and employment, away from Liverpool. This is happening in particularly the banking and service industries, but tides are also constantly changing, opening the doors that much wider for property investment in Liverpool and upgrade or even new construction projects, which all bring life back to old run-down areas. With it increased property values and the potential for profit taking and appreciation, growth and investment dollars.

In the past, the docks closed and diminished some of the mainstream income for many, causing unemployment and layoffs. Today the landscape is shifting. Warehouse apartments in Liverpool’s China town, offers great opportunity for creative and savvy investors, as would the north docks lofts. All these factors will drive property values up in the next five years, making it even more attractive for potential investors.

Austin Real Estate Outlook

Recent headlines suggest that home sales could be on the rise in some parts of the country, particularly in the South and Midwest. While analyst are being cautious not to sound too optimistic, the number of pending sales in December was up 6.3 percent according to the National Association of Realtors. This increase was largely credited to falling prices along with lower mortgage rates.

Austin home prices are actually on the rise, according to the most recent housing statistics from Yahoo. The median price for a home in Austin is currently $299,000, a 3.1 percent increase over January. While this may not be good news for bargain hunters, it was a positive sign that the housing market is still doing well in Central Texas.

Zillow shows that overall home values in the Austin area were down 3.6 percent at the end of last year, a sudden change after a steady climb in prices over the last three years. The stock market collapse last fall caused home values across the country to plunge in November and December of 2008. This was also the case in Austin, making the numbers in the local housing market look dire for the first time in years.

In other parts of the country the numbers at the end of last year were much worse. Boston home values were down 9.6 percent, while Santa Barbara, CA values were down 21.5 percent. While the housing crisis has been felt across the nation, the pain has certainly been deeper is some cities.

Lower new home starts and less inventory on the market both contribute to the better numbers in housing markets across the country. A recent Associated Press article noted that pending home sales were up in the South and Midwest, but fell 2-4 percent in other parts of the country. Finding the good news in the economy all depends on where one looks.

The vote this week to give a tax break to home buyers should be good news across the country. The new bill would provide a tax credit of 10 percent of the value of a residence, up to $15,000. This is an increase over the current $7,500 credit, which applied only to first time buyers. This amendment to the economic stimulus package being hammered out in Congress would apply to any home buyer of a primary residence this year. The hope is that this tax incentive will encourage banks to make loans thus stimulating the housing market with new buyers.

According to Senator Isakson, R-GA, who pushed hard for the tax credit, it will help the housing industry and the economy. A statement on Isakson's website says, "In the mid-1970s, America faced a similar housing crisis when a period of easy credit and loose underwriting flooded the market with new construction. Interest rates rose, the economy slowed and America was left with a three-year supply of vacant homes. Congress responded by passing a $2,000 tax credit for anyone purchasing a new home for their principal residence. Isakson believes the results were clear and swift as home values stabilized, housing inventory dropped and the market recovered." All of this can only be good news for the Austin housing market.

Getting the Best Deals in Turkey Property Market

Are you looking for new homes or searching for properties in Turkey? Turkey is fast becoming one of the most popular vacation spots in Europe, and one of the top ten holiday locations in the world with an excess of 26 million annual visitors. Turkey has experienced a 15% to 20% annual increase in tourism and the introduction of the low cost airlines in this country is expected to increase the numbers even further. With over 300 days of sunshine, an abundance of long golden beaches, yachting and one of the most diverse and wonderful cultures, Turkey has excelled in its unique capability of attracting tourists from every corner of the world.

Along the West Mediterranean and Aegean there are numerous unspoilt areas which are covered in pine trees, with many olive groves and citrus orchards. Turkey's most stunning beaches can be found along the Mediterranean coast, whilst the Bodrum region benefits from a number of peninsulas and deep bays making wonderful views and idyllic for sailing. It is no wonder that many of the tourists end up purchasing villas and property in this wonderful country so that they can have a permanent home in the sun.

If you are considering moving overseas or investing in a luxury villa or home, then Turkey offers significant advantages. With over $4 billion invested in the Turkey Property market over the past few years, it has transformed into one of the fastest rising property markets, becoming one of the most fashionable markets for both investment and lifestyle. Prices are still cheap in comparison to other similar locations in Europe, and have been experiencing 20% to 30% annual property price increases over the past few years.

In Turkey there are two very different large property markets. The major cities, of which the most significant is Istanbul. It is very short of high caliber properties and this combined with a strong local rental demand has resulted in a significant property prices increases, as high as 85% in some parts with rental returns as high as 8% to 10%, depending upon quality where they are located. Villas and Holiday homes by the coast and in particular Bodrum and West Mediterranean provide the other major property market in Turkey. Overseas investment has been driving this property market and as such it has benefited by solid growth during the most recent three years. The level of investment in this region has been a major driver in the immense growth in tourism.

There are numerous options to consider when looking to buy your dream home in Turkey, you need to decide what the main purpose of your dream home is, and if you want to be by the sea, mountains or located in the heart of one of Turkey's major cities. Buying an investment apartment in Istanbul is very different from buy your dream holiday villa by the sea, and you need to take into consideration completely different factors such as catchment area, transport links, proximity to schools, shops, parks versus how close the dream villas is to the beach, restaurants, cafes and shops are. You will find numerous property agents that specialise in various regions and specialise in Investment and lifestyle. They are very useful in providing you with information and guidance as to what regions or types of Turkey property best suit your needs and budgets. Property in Turkey is both available and affordable compared with most locations in Europe and the internet is an invaluable tool to access the numerous informative websites. These sites should be enriched with information on homes in Turkey, thus ensuring that you can find your dream home or Villa in the sun.

Housebuilders

'For businesslike buyers in a position to proceed, this could be the best time in a generation to pick up a genuine bargain'

With new-home sales at a 50-year low, housebuilders are desperate to move stock. Reductions of up to 30 per cent are commonly available in London and the South-East, while in the Midlands and some northern cities much heftier discounts are being negotiated on individual sales.

Reduced by £73,000: a one-bedroom flat at Elektron, Canary Wharf, is £329,000 (020 7987 1855)

For businesslike buyers who are in a position to proceed, this could prove to be the best time in a generation to pick up a genuine property bargain, a home with a high spec, built on the assumption that the builder would get the money back for the highly styled interior.

Some beleaguered developers are so keen to shift unsold stock that they are resorting to the equivalent of Blue Cross Days, the high-street tactic of offering “further reductions”.

Taylor Wimpey is promoting “one day only, change your life” deals across the Home Counties. “Selected properties will be available at reduced prices only for the day of the promotion and will revert to their original prices the following day,” explains a spokeswoman.

At The Edge in Edgware, Bryant Homes is offering a special half-price deal to first-time buyers who have a minimum five per cent deposit: a £180,000 one-bedroom apartment has been cut to £89,975. At Campbell Square in Milton Keynes, a two-bedroom apartment costing £174,950 now costs £92,475.

The virtual shutdown in the mortgage and credit markets has brought the housebuilding sector to its knees over the past few months. For volume housebuilders, the crisis is deepening.

Profits and share prices have plunged, land in many cases appears worthless, and with no income stream from ongoing sales, builders are in danger of breaching their banking arrangements, which could lead to them going bust. There is even talk of a government bailout, with housing associations mopping up unsold homes for much-needed social housing.

Reduced by £82,000: a two-bedroom flat at Campbell Square, Milton Keynes, is £92,475 (0845 671 3197)

“I have been in the industry since 1981 and have never seen anything like it,” says Alistair Leitch, finance director of Bellway, the UK’s fourth-biggest housebuilder.

Whereas in the past, builders could avoid the embarrassment of making price cuts by instead offering incentives such as free furniture, these sweeteners are no longer enough to entice buyers.

Moreover, under a new industry code of conduct introduced in September 2008, all incentives or “freebies” have to be declared to a buyer’s solicitor and mortgage lender.

Lenders will not include the worth of any incentives when valuing the property, meaning that the mortgage advance is based on the actual net price paid by the buyer, not an “artificially high price” that includes the incentives.

Declaring the value of incentives will drive down prices further, believe industry insiders. One said: “The push for transparency will result in developers lowering prices - I don’t see any other way around it.”

Barratt is making no bones about offering a fire-sale of properties at developments across London. “We are pricing to sell because that is the right commercial approach,” says managing director Adam Lawrence. “Above all, we want people to know that they can buy at today’s price, not yesterday’s price.

Reduced by £92,000: a one-bedroom flat at Viridian in Nine Elms is £250,000. Call 020 3177 1052

“Buyers have to take a view of where the market is. Are we close to the bottom? Probably, yes. Property is a tangible asset, more so than shares, and most people recognise it comes good over the medium to long term.

What we know for sure is that there will be a huge undersupply of homes in the future. At the moment we are selling mainly from stock rather than off plan.”

Any “overcapacity” will eventually disappear, meaning fewer opportunities to buy cut-price new-build homes. Estate agents say there could be a significant shortage of new homes in the South-East within a year or so.

The number of new private homes built in 2009 is expected to fall to a record low of less than 50,000, about third of this year’s output.

“Over the short term, prices are going down but, long term, if there are insufficient numbers of houses around, then property will become more valuable,” says Steve Nickell, chairman of the National Housing and Planning Advice Unit and warden of Nuffield College, Oxford.

'Clearly, it is worth negotiating hard where the price is marginally above the stamp-duty thresholds'

At Viridian in Battersea, Barratt has dropped prices by 27 per cent. A year ago, one-bedroom flats there were selling for £342,000. Today, they can be picked up for £250,000. For more information, call 020 3177 1052. The scheme of 180 apartments is in Nine Elms, directly opposite the famous power station and close to the site chosen for a new US embassy.

Lawrence says that “incentives are less of a clincher” in today’s market. But Barratt will tailor a deal to suit a buyer’s individual circumstances. “Come and speak to us. You’ll be surprised how much support we can give.” Ultimately, the only way to be sure a deal is a good one is to know the local market, prices and specification, inside out.

Flats at Great West Quarter, Brentford, have been reduced by £50,000 (020 8326 7277)

Clearly, it is worth negotiating hard where the price is marginally above the stamp-duty thresholds of £175,000, £250,000 and £500,000. Barratt is refunding stamp duty on homes worth up to £1 million as well as paying legal fees and moving costs.

Part-exchange deals, where the developer agrees to buy your home at 100 per cent of market value, can be a boon because you get a hassle-free, guaranteed sale with a Home Information Pack paid for. But normally you have to trade up to a new property that is at least 30 per cent more expensive.

At Elektron in Canary Wharf, Barratt has dropped the price of one-bedroom flats from £402,000 to £329,000, a reduction of 18 per cent.

‘The financial downturn is a buying opportunity’

Chiswick residents Martin and Mary Collis got £50,000 off a one-bedroom flat at Great West Quarter, a 773-home scheme in Brentford. The couple are
buy-to-let investors and paid £199,995.

“We’ve targeted this regeneration area because it lies midway between Heathrow and central London,” says Martin, a financial adviser. “For us, the market downturn is a buying opportunity.”

Russia's richest

Russia's richest woman buys Fame Academy mansion for £50m

What property slump? Russia's richest woman buys Fame Academy mansion for £50m - only a year after it was sold for £32m

Wealthiest wife in Russia: Elena Baturina is worth £1.3billion

With most homeowners worried about the plunging price of their property, there's always the exception that proves the rule.

After being sold last year for £32million, the biggest private house in London bar Buckingham Palace has just been bought for £50million - a 56 per cent rise in 12 months.

Witanhurst, a 90-room Grade II Queen Anne listed mansion in Highgate, is the latest investment by the Mayor of Moscow's wife Elena Baturina.

She is the richest woman in Russia in her own right with a fortune of £1.3billion.

The property has been used for the BBC's Fame Academy in the past and the Queen even played tennis there as a girl at a pre-Wimbledon party hosted by a former
owner.

It is in a dilapidated state, with holes in the ceilings and crumbling cornices, and no work has been done on it since it was bought from an Arab family by property developer Marcus Cooper last July.

But with her company, Inteco, said to be the most successful building conglomerate of the post-Soviet era, 45-year-old Miss Baturina should have no problem restoring Witanhurst to its former glory.

Something of a controversial figure in Russia, Miss Baturina is said to have her pick of many of the more lucrative construction contracts in Moscow.

Earlier this year, she and her husband - who have links to London's former mayor Ken Livingstone - also bought a home in Holland Park.

It is thought that Witanhurst with its many high ceilings will provide ample space to display Miss Baturina's lavish art collection.

Its renovation will be on a grand scale since she does not do things by halves.

When, for example, she and Luzhkov failed to find a suitable school for their two daughters, she decided to build her own, complete with state-of-the-art security.

Witanhurst is set in seven acres in a conservation area on Highgate West Hill. The main house dates back to the early 18th century and has featured in period dramas including Nicholas Nickleby, the thriller Dead Gorgeous and lesbian bodice-ripper Tipping The Velvet.

Biggest house in London (except for Buckingham Palace). Witanhurst has 90 rooms

Lavish: Witanhurst has 40,000 square feet, with a grand reception hall, 25 bedrooms, 12 bathrooms, five acres of gardens

Soap magnate Sir Arthur Crosfield bought the building in 1913 with the intention of creating a house to impress the highest echelons of British society.

He commissioned architect George Hubbard to come up with a Queen Anne- style extravaganza.

When he finished in 1920, Hubbard did not disappoint.

Guests would drive up through a three-fingered gatehouse and would be ushered into a teak hallway so big that it would leave even the brashest, self-important guest gasping.

Witanhurst has 90 rooms spread across three floors, including 25 bedrooms. One of the largest is the 70ft Grand Ballroom. There are also extensive terraces.

Entertainment: The mansion has a huge amount of space to entertain guests

It has oak flooring and the timber wall panels are in walnut, with carved cornices embellished with gold leaf.

Sir Arthur's wife took full advantage of her home. She held the must-be-seenatparty before Wimbledon each year.

It attracted, among others, the future Queen, Princess Elizabeth, who was snapped heading up the steps to the house from the tennis courts in 1951.

Wealthy family: Moscow Mayor Yuri Luzkov, with his wife Elena Baturina (right) and two daughters

Eventually, however, it fell into disrepair and had been on the market for some time when Mr Cooper bought it on July 18 last year. Six weeks later he put it back on the market for a rather ambitious £75million.

At the time he claimed that, once restored, it would be worth £150million.