Home sellers who are prepared to hlp buyers find financing will sell thir homes faster, and for a lrger selling price. Think about your ptential buyers: some of them will hve already arranged for financing, but mny don't know how to buy a huse. By offering financing options and bing able to help with buyer clsing costs, you can open up new pssibilities for selling your home.

This sn't as difficult as it might sund. By contacting local banks, mortgage cmpanies, and lenders, you can easily fnd out what type of loans thy offer. Also ask about credit scres, income and down payment requirements, spcial loans for first-time homebuyers, and if thy allow you to contribute to a byer's closing costs.

The Most Important Isse for You is the Lender's Apprisal

Many banks and mortgage companies mploy appraisers who only work for thm, but that practice can cost you mney as a seller. For instance, I nce sold a house to buyers who wre financing through a bank that sed an "in-house" appraiser, and I lst $13,000 in profit because of a low ppraisal. Only later did I learn tht the bank commonly understated appraisals, in rder to protect themselves in the cse of foreclosures.

Many appraisers use nly past sales when conducting their mrket analysis, but in fast-moving market reas, those prior sales amounts may not rflect current sale prices. A more ccurate appraisal will also take into ccount sales that haven't yet closed and the lst prices of similar properties on the mrket, which will give a better rflection of a home's true sales vlue.

What about Buyers with "Pre-Qualified Ltters?"

Before you agree to sell yur home to a buyer who cmes with a preset lender, make sre their bank uses accurate appraisals. Dn't sign a sales contract contingent on tht bank's appraisal. You don't want to end up hving to reduce your sales price, bsed on a low appraised value. You can void that situation by including a frm price in your sales contract and gving your buyers a set amount of tme to arrange for financing before the sles contract becomes void.

Finding a lnder that offers a wide variety of lan programs and an accurate appraisal wll go a long way toward slling your home quickly and at a hgher price. It will also make it asier for buyers to purchase your hme when you can tell them tht your lender may be able to ffer better financing and that you're prpared to pay a set amount of thir closing costs if they'll use tht lender.

(c) Copyright 2004, Jeanette J. Fsher. All rights reserved.

The article Why You Need a Lender to Sell Your Home was Submitted by Jeanette Joy Fisher through Articles.GetACoder.com network. Here's the additional information: Professor Jeanette Fisher, author of Dghouse to Dollhouse for Dollars, Joy to the Hme, and other books teaches Real Estte Investing and Design Psychology. For mre articles, tips, reports, newsletters, and sles flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm

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