Real Estate Blogs

Marketing: It’s All about the Numbers So what does it take to get a homeowner who is in foreclosure to actually call you? There are a lot of people in the sales industry who will employ certain marketing strategies to get customers, and that totally makes sense. But at the end of the day it boils down to this: it’s a numbers game. And it is, isn’t it? Whether you’re trying to buy houses or doing marketing to homeowners, the more prospect clients you have, the more chances you’ll have to get positive results. Look at it this way: it’s like mining for gold. You don’t know where exactly the gold is, but if you have a larger area to dig through, you’ll more likely to succeed. Do marketing, marketing, and more marketing. It’s that simple. It’s just sensible to diversify and actually utilize different marketing approaches. It won’t do much good, however, if you get stuck analyzing foreclosure...

Practical Advice on Judging a Foreclosure File People usually think that the first thing to do when dealing with foreclosure properties is to decide which one to actually consider buying. Actually, it’s not. The first thing to do is do NOT even attempt to pass judgement just by looking at a foreclosure file. It simply doesn’t make sense to try distinguishing the difference between a good prospect and a bad one simply by the figures and details available on hand. If you’re considerably knowledgeable on the matter, you may be able to discern which properties have more equity than another – but that doesn’t mean you’re going to get a nice profit just because of that. Analyzing data doesn’t cut it; actually writing an offer for a property does. For example, you may consider a house that looks like it’s a great deal on paper – maybe it boasts of a lot of equity –...

Many home buyers, and even some investors, seem to approach a real estate purchase offer as just an opening of negotiations. It can be this, of course, but it is also a legally binding contract the moment the seller signs it. You don't get to change the terms after that, or back out of the deal. That is, unless you have the right language in the offer to begin with. Purchase Offer Clauses To Protect You 1. Inspections This is perhaps one of the more important clauses in a purchase offer, and is common. But make sure you get the wording right. Ask for help if necessary, but the point is to make it possible to cancel the offer if any inspections show problems you don't want to deal with. Such a clause might read something like this; "This offer is contingent on the buyer's approval of the results of a termite inspection...

Foreclosure is a court action taken by the mortgagee or the lender asking the court to cancel the equity of redemption to the mortgagor. The second and third mortgages should have a clause saying that if first is in default, the others are automatically in default too and they can take action against the borrower or the mortgagor. Redemption is the right of the mortgagor to have clear title to the property after paying the loan fully. Redemption period is usually provided to pay off interest, fees and back payments. There are basically two types of foreclosures. The first one is called Judicial. In this type of foreclosure, the mortgagee petitions the courts and begins a lawsuit against responsible parties. The second type is Non-judicial. With this, the power of sale has the processes covered in the mortgage documents. Lenders have the right to sell the property. On the power of sale process, happens quickly. It...

Selling a distressed home can be a little different than your every day home transaction. When you have a home in good condition, no legal or financial problems, it can be beneficial if you have the time and patience to list on the MLS and Maximize your profit. When selling a distressed home this can make things a little more difficult. 1. Time When listing your home on the open market you could be waiting months if not years depending on many different circumstances including, market, location, homes shape… If you have a home in good condition that isn’t facing foreclosure, or have a re -possession pending, this is most likely your best option. Most Distressed Homeowners don’t have this kind of time. Once a mortgage payment is missed your on the clock before the foreclosure process begins. Homeowners wait too long to find alternative routes to foreclosure and tend to lose their homes to the...

We firmly believe that all Canadians deserve a place they can call home. Our main goal here at Calgary Rent To Buy is to transform current renters into future homeowners through our unique and customizable Rent to Own Programs. Entering into a R2O (Rent to own or lease option) can be a great option if you’re not financially ready to buy a home yourself through a traditional mortgage. The structure of the program is the tenant buyer enters into a lease agreement with an exclusive option to purchase the property within a specified time period and at a specified price. We realize that every family has a different combination of assets, limitations and dreams. Our job at Calgary Rent To Buy is to understand your unique needs, so we can formulate the perfect Rent to Own program for you. We have evaluated the merits of various Rent to Own concepts and decided to implement and adopt only the most...