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May 16, 2012
Ed Franklin
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Crafting a Note for Buyers
In previous issues, the best method for selling a home in a tough market with seller financing was explained. The benefits to the seller from involving a qualified cash flow finder with a seller financed deal and having a note buyer “on board” before the note is created were also covered. While using seller finance techniques to sell a property are no more difficult than a traditional real estate closing, following a logical and proven plan is the best method for ensuring a successful real estate sale with seller financing.
The sellers’ misconception
Many property sellers stay away from seller financing because they mistakenly believe that creating a note is not a viable solution for selling their home. After all, if they can’t walk away with enough cash to provide the down payment on another property, they’ll be powerless to replace the property they’re selling.
As a consequence of this common misunderstanding, many sellers feel compelled to stick with conventional real estate methods, limiting their options and missing out on the benefits that seller financing could offer them.
In actuality, many notes created through seller financing are quickly sold and the seller ends up with the cash they need. Even better, if the note is created with buyers’ purchasing criteria in mind, the seller could walk away from the closing table with cash in hand. This means that the net result is almost exactly the same as with a conventional real estate sale!
In the cases where the note holder does have a problem selling their monthly payments, the difficulty in liquidating the note is typically a result of one general problem: the note was not created with the buyer in mind. Instead, it was created with only the payer in mind. To ensure that a newly-created note will be attractive to potential buyers, it is important to recognize that their purchasing criteria are important as well.
Too good of a deal
For property sellers looking to sell their note immediately, it would be a grave mistake to create the note by prioritizing only the payer’s demands. A buyer must have a compelling reason to agree to collect payments in order to buy a note, such as a substantial down payment, a respectable payer’s credit score (to minimize risk), a competitive interest rate, or a fairly short term.
An example of a “bad note” from a buyer’s point of view would be a seller financing situation where no down payment was collected, the payer’s credit score was not checked, and the interest rate is fixed at 3%. Basically, this is TOO good of a deal! Even payers that qualify for loans from traditional lending institutions would jump at this offer with no out-of-pocket money required and a rate below prime.
Clearly, the note payer and note buyer are looking for very different things. Payers would love a “no money down” purchase with financing at a low interest rate, but most buyers wouldn’t want anything to do with this sort of note simply because it is a bad deal for them.
In a situation without a reasonable down payment there is nothing holding the payer to their obligation. After all, a payer involved in a “no money down” purchase could walk away and lose almost nothing financially. Abandoning their obligation to pay may hurt their credit score, but it was their substandard credit that forced them into a seller-financing situation in the first place.
When there is no equity in the property (buyers will use the lower of the property value or the sales price to calculate equity), all offers to purchase the secured note will be discounted substantially in order to compensate for the buyer’s risk of default. A heavily discounted buyout offer often means the seller will not be able to get the money they need.
If the seller of a private note needs a large amount of cash immediately, they must be able to sell the note as soon as it has been created. And to quickly find a buyer, the note must meet the general buying parameters of these people, which include a solid down payment, a decent interest rate, and typical terms.
Creating notes that can be sold
Every buyer has their own criteria that determine what they will or won’t buy, but a down payment of at least 10% is a good minimum figure when creating a note. This upfront payment immediately creates equity in the property which acts as the buyer’s safety net in a foreclosure. A competitive interest rate is important because it will make it easy for the buyer to purchase the note and yield the desired profit without much of a discount to the note holder. Finally, keep in mind that people typically avoid notes that do not follow a traditional term (amortized over 120 months, 180 months, etc). A two-year, interest-only balloon term is a perfect example of a note that most buyers would avoid.
The points described above are only a rudimentary starting point for note creation; there are certainly other things that buyers look for when considering a note. It is always a good idea for the seller to contact a qualified note finder in order to get the specific information they need.
The finder will be able to utilize their experience in working with buyers to give the seller general guidelines about what should meet most buyers’ parameters. Of course, there are no absolute guarantees of a quick sale, but when the seller creates a note with the buyer.s needs in mind, it should not be a problem to locate an interested buyer who will give the seller the cash settlement they need.
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ED FRANKLIN’S land note/contract sales get cash now
land contract
A land contract is a contract between the buyer and a private seller of a property, wherein the seller holds the title or deed to the property until all agreed upon payments have been made in full
This property may be improved or unimproved, vacant, or a home or a commercial
Land contracts began to disappear when loan requirements softened and rates dropped below 8%
But they have not vanished all together and, in fact, tiptoed back into the market in 2006
Land contracts or contracts for deed are a security agreement between a seller, called a Vendor, and a buyer, called a Vendee
The Vendor agrees to sell a property by financing the purchase for the Vendee
Sue Heimbichner, an escrow officer at Chicago Title in Sacramento, has been in the business since 1976 and has watched the popularity of land contracts come and go
An agreement between a buyer and seller of property in which the buyer makes payments toward full ownership (as with a mortgage), but in a land contract, the title or deed is held by the owner until the full payment is made
This type of contract is technically not a legally binding agreement and, therefore, many different types of payment formats can be found
As in a standard mortgage, there is an agreed upon price and payment schedule, but the payments are often not amortized evenly, so that a large balloon payment may be required to complete the purchase
Also known as an installment purchase contract or an installment sale agreement
A land contract can be thought of as a “lease with an option to buy”
Certain states have more generous legal rights for land contract holders than others
As a result, the world of land contracts can be difficult to navigate
As such, as land contract buyer must be very careful to ensure that the terms of the contract are legally binding in case a dispute arises in the future
Land contracts are often used by purchasers that would not otherwise qualify for a mortgage, or by investors who wish to complete a purchase faster than a regular mortgage would allow
In some parts of the country it is known as a “Contract for Deed” and in other areas it is known as an “Installment Contract
” This form is designed as an agreement between the Seller and the Buyer for the purchase of real property in which the payment of all or a portion of the purchasing price is deferred
The purchase price may be paid in installments over the period of the contract, with the balance due at maturity
When the Buyer completes the required payments, the Seller must deliver valid legal title by way of a deed
During the period of the contract, the Buyer makes installment payments on the purchase price and to possession and equitable title to the property
The Seller holds legal title and continues to be liable for payment of any underlying mortgage or loans
The Buyer may assign and convey his/her interest in this “Contract” or any part thereof provided, however, that such assignment or conveyance should not result in any impairment of Seller’s position
Under no circumstances shall any assignment or conveyance release the Buyer from obligations under this “Land Contract” unless the Seller specifically releases the Buyer in writing
Can you read an existing agreement or contract and tell the difference between what and what is not
If you don’t understand all that legal language, you’re not the only one
Whether you are the buyer or seller, the language of any LAND CONTRACT can be confusing
Unfortunately, most of us cannot afford to hire an attorney to help us
Unless you know and understand contract law, it is very hard to write or sign any kind of agreement and be sure you won’t be in trouble later
You don’t have to know all the rules, because our easy-to-use land contract form contains all the legal language you need
All you have to do is fill in your information
Don’t be mislead by all the free and cheap real estate forms available on the Internet
Most are not worth your time or effort and will ultimately get you in trouble
Our Official LAND CONTRACT forms contain all the legal language and protection you need
That old saying about “how you get what you pay for” has never been more valid
The entire process to obtain a valid land contract form is quick, easy, very affordable and most of all USER FRIENDLY
Keep reading and we will explain how everything works
Your land contract is only a click away
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Please be assured that we will NEVER sell, share or promote your e-mail address to anyone
Often times, home buyers are in a financial position to afford the monthly payments associated with home ownership, but they lack the down payment necessary to purchase a home
Or, the buyer’s credit score or rating may prevent he or she from obtaining traditional bank financing required for the purchase of a home
In those cases, it often makes sense for the buyers to consider purchasing a home or piece of real estate and have the owner/seller provide the financing for the purchase
Likewise, selling a home by way a land contract can prove beneficial to the seller in many ways
Likewise, real property sold on a land contract can often be priced higher than sales with bank financing since the seller provides the all-important financing and the buyer is often times not required to come up with a large down-payment, thereby permitting a higher asking price for the property
So how does a land contract work
Land contracts are common throughout the United States
In some states, they are called Trust Deeds, Contract for Deed, Deeds of Trust, Notes, or (privately held) Mortgages, but they all represent the same thing: a way of selling property where the buyer “borrows” from or relies upon the seller for the financing rather than paying cash up front or borrowing from a bank
The seller and buyer enter into a contract that normally states that the seller shall transfer ownership of the property to the after the buyer has fully paid the seller the agreed upon purchase price
In most cases, the contract requires the buyer to make a modest down payment and then to make monthly payments over time
The land contract can require the buyer to pay the seller interest on the money owed (just like a bank would)
During the term of the land contract (i
while the contract is in force and effect, the buyer is not in default and until all of the payments are made), the buyer holds legal possession of and occupies the property
The land contract can call for transfer of the property once the seller has received all of the required payments or can call for the transfer at some time sooner, with the seller then holding a mortgage on the property to ensure that the balance of the purchase price will be paid in full
Whatever the terms agreed upon for transferring ownership, when the agreed upon transfer date is reached, the seller tenders (or gives) a deed to the property to the buyer who then records the deed in the county recorder’s office or the real property office of the county where the property is located
While the benefits of land contracts are many, there are some potential pitfalls to a land contract that the parties must be aware
If the buyer misses any payment under the land contract, he or she may lose the property (the right to have the deed transferred to him) and the seller may keep the money paid up to that point as rent
Thereafter, the seller would not be required to transfer the deed to the buyer
Some states have laws providing that if a buyer makes a majority of the payments under a land contract (which cover a large percentage of a purchase price of the property), the seller may not be able to keep or refuse to transfer the deed if the buyer can make payments on the contract price at a later date (known as the right of redemption)
Typically, the original contract will have a provision allowing amendment of the contract and may also set out an amendment procedure
This assignment is designed for those situations where the purchaser of residential property decides to assign all his rights and interests is
As one of the nation’s undisputed high volume mortgage acquisition companies Land Contract
We are the buyers of land sale contracts
When we buy your land sale contract, we put CASH in your hands
Formerly, the buying of land contracts was just a tool for banks, real estate agents, mortgage brokers, attorneys and financial planners
Now we offer YOU the ability to sell your note directly to us, the buyer, via this site (LandContract
This site is a member of WebRing
Land Contract InformationA land contract is an agreement for the sale of an interest in real estate in which the purchase price is to be paid in installments and no promissory note or mortgage is involved between the seller and the buyer
Generally under such agreements, the seller is called the vendor and the buyer is called the vendee
Buyer DefaultWhen a buyer default occurs (failure to make payment or other breach of the contract) a seller should look to the remedies provided in the land contract
It should be read carefully to determine the parties rights and obligations
Generally, a land contract will give the seller at least three remedies to pursue if a buyer has failed to meet the requirements of a land contract:
Specific performance of the land contract (If the seller does not want to regain possession of the property, then the seller may sue for the balance due under the land contract or to enforce the provision breached
);Forfeiture of the land contract; or Foreclosure on and sale of the land contract property
Generally, a seller must use the court system in order to regain possession of the property and evict a land contract buyer who has failed to meet the requirements of the land contract
Land Contract Forfeiture Seller may regain possession of land contact property by forfeiture if:
The land contract expressly provides for forfeiture and termination of the contract; and The buyer has failed to make payment of any moneys required to be paid under the land contract, or has materially breached the land contract (Example: a failure to pay real estate taxes or to keep the property insured)
Before a seller may begin the procedure to regain possession of the land contract property the seller must:
Provide the buyer with a written notice of forfeiture describing the default; and Provide the buyer with a minimum of fifteen days (or more if the land contract provides for a longer period) to correct the default
It is important that a buyer respond in writing to a notice of forfeiture even if it may have been sent by mistake
If the buyer fails to respond to the notice of forfeiture or otherwise fails to come to an agreement with the seller within the time stated in the notice, the seller may take legal action
To do this the seller must file a summons and complaint, together with a copy of the land contract, the notice of forfeiture and proof of service with the appropriate court
The court will deliver or mail to the buyer (defendant) the summons and complaint
The summons states the date and time on which the court will hold a hearing (usually called a summary proceeding)
The seller and buyer should appear at the court on the date and time state in the summons and should be prepared to state their positions to the court
At the court hearing, if the seller is successful the buyer will have a certain amount of time (90 or 180 days depending upon the amount the buyer has paid on the contract) in which to pay the missed payments and court costs and/or to correct any other material breach of the land contract
A buyer who fails to pay or correct the breach within the stated time period may be evicted in the same way a tenant is evicted from rental property
Generally, when a seller has regained possession of the property after forfeiture the buyer has no further liability under the land contract
Land Contract Foreclosure Land contract foreclosure is generally a more complicated and lengthy remedy to regain possession of the property than forfeiture
A significant difference; between forfeiture and foreclosure is that in a forfeiture a buyer may prevent the loss of the property by merely paying past due installments, while in foreclose the buyer may be required to pay the entire balance due under the land contract
In addition, in foreclosure even if the property is returned to the seller the buyer may remain liable to the seller for the portion of the balance due under the land contract which was not satisfied by the sale of the property
Seller DefaultGenerally, upon a buyer’s fulfillment of the land contract the seller should give the required deed conveying the property free of liens created by the seller
A seller who fails to provide the required deed may be in breach of the contact
If the seller is unwilling or unable to give the required deed the buyer may have various options including legal action for:
Specific performance of the land contract (including a court order directing the seller to give the required deed);Quiet title;Cancellation of the land contract (seeking the return of then money paid by the buyer in exchange for all of the buyer’s rights in the property);Money damages
Above all, both the buyer and the seller may be able to avoid problems if they talk to each other when questions or concerns arise regarding the land contact
This should not be used in place of legal assistance
In the event of a land contract dispute, seek legal advice
Legal Services of Northern Michigan may be able to assist you with land contact problems
Click for free Michigan legal help and legal aid, or go to lsnmirp
Land contracts vary widely from transaction to transaction
In most cases, no grant deed is recorded
The buyer rarely obtains a new mortgage loan at the time of purchase
Instead, the new owner makes payments to an intermediary, who then makes payments on the sellers mortgage, which is still in place
Keep in mind that such an agreement usually violates the lender’s guidelines
If the lender becomes aware of a transfer of title on the property (which is why you usually don’t record the grant deed), they can exercise the “due on sale” clause of the note
This would require you to refinance the loan or sell the property
Since many who buy on land contracts have problems qualifying for a mortgage, you can see how this can lead to problems
At the same time, lenders generally only check for transfers of title if the loan becomes delinquent
Within a certain number of years, it is expected the buyer will be able to qualify for a loan
At that time, they will obtain a new mortgage and pay off whatever amount the land contract requires
Then a grant deed is recorded and full ownership is conveyed
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contract for deed or “installment sale agreement”) is a contract between the owner of the real property (called the “vendor” or the “seller”) and a person who wants to buy the property (the “vendee”, “contract purchaser”, “purchaser” or “buyer”)for an agreed-upon purchase price
Under a land contract the vendor grants equitable title to the vendee (which consists of virtually all rights and benefits to the property), and the vendee agrees to pay the purchase price to the vendor over time, usually in monthly installments, by a certain date
When the full amount of the purchase price is paid, the vendor is obligated to deliver legal title to the vendee by an actual deed, and upon delivery of the deed, the vendee owns equitable and legal title to the property
Equitable title, for all intents and purposes, makes the purchaser the “owner” of the property
There are several “land contract friendly” states in the US, while other states make it extremely difficult to sell or purchase real property by means of a land contract
Michigan is a “land contract friendly” state and has a long history with land contracts
It is estimated that about 18% of all real property (residential & commercial) in Michigan transfers by way of land contract
Often a Vendor will also collect 1/12th of the estimated property tax payments with every monthly installment
The Vendor will then pay the property taxes when they become due
It is a way for the Vendor to make sure that taxes are paid and do not create a lien on the property
Closing costs, prepaid items, and other fee’s are typically a lot lower when purchasing real property through Land Contract
Most all of the costs paid at closing, directly benefit the purchaser in one way or form
The most important feature of an agreement like this is the Seller does not deliver the deed to the Buyer at closing
When the contract is fulfilled, the Seller, or Vendor, gives the Buyer, or Vendee, the deed
The widest use of an Installment Contract occurs when the Buyer does not have the full purchase price in cash or is unable to borrow it from a lender
Historically, a Conditional Sales Contract was used to sell vacant property, or land, where the Buyer put modest amounts of money down and the Seller agreed to receive the balance as installment payments
Additionally, an astute Buyer will require that a collection account be used to collect the Buyer’s payments
This is done using a neutral third party
The Seller may insist that the Buyer place one-twelfth of the annual property taxes and hazard insurance in the escrow account each month to pay for these items
The Buyer will want to record the contract to establish the Buyer’s rights to the property
If a Land Contract agreement is used for the purchase, or sale, of real estate, it should be done with the help of legal consul
When the final payment is made to the Seller (or the property refinanced through an institutional lender), title is conveyed to the Buyer
land contract noun a contract in which a purchaser of real estate, upon making an initial payment, agrees to pay the seller stipulated amounts at specified intervals until the total purchase price is paid. If you’re buying or selling land, try to finance the property through an installment purchase contract, known as a land contract
Flag Article Instructions Difficulty: Moderate Things You will Need: Legal Counsellors Purchase Agreement Tax Services Paper And Pencils Writing Pens Business Plan Software Step1Agree on a sales price for the property with financing terms that provide a designated number of payments at predetermined intervals at a specific interest rate
Step2Realize that in a land contract, the buyer receives the legal deed to the property only after the seller receives most or all of the installment payments
Step3Include a clause in the land contract that allows you to prepay the contract amount without penalties
This allows you to improve the property and pay off the loan early or at the time of resale
Step4If the seller does not agree to prepayment terms, negotiate a release clause that permits you (the buyer) to subdivide and sell lots while allowing the seller to release the land to the lot buyers and accept the money from lot sales as installment payments
Step5Review the terms of a land contract with a real estate attorney or agent before making or accepting any offers
Tips & Warnings Because income from the sale of land is taxed as ordinary income, many sellers prefer receiving payment in installments through a land contract instead of receiving payment in a lump sum
Seek legal advice about the terms of a land contract to avoid potential problems
on 10/11/2007where do I get a form for land contract sales or see a sample
This Comment this comment has been flagged
on 7/18/2007 When selling land by owner, I used a pre-filed land contract to get me started
This form is what I use now to sell with owner financing
Just change the form to fit the property description
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‘land contract’ appears in the definitions of these other terms on Business Dictionary
Learn the steps how to make a sound financial decision when buying a house
Understand what considerations are needed when it’s time to decide how much to spend and whether it is better to rent or buy a home
Looking to sell your home or just to find out the best practice for the process
Learn the steps you need to take to sell your home, and how to get the best price
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BAE Systems in West Manchester Township is part of a $538 million contract from the Department of Defense to remanufacture Bradley fighting vehicles and provide spare parts through June 2010, the company said today
Final assembly, integration and testing of the vehicles is scheduled for the West Manchester Township branch of BAE
The contract provides the option of adding more vehicles and spare parts to the order
If all options are taken, the contract would be worth about $1
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Thexton (May 2008), the California Court of Appeal ruled that a particular purchase agreement containing a discretionary, unilateral “entitlements” contingency, is void
Start New SearchView the full text of this article The views expressed in this article are solely the views of the author and not Martindale-Hubbell
This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance
Except in counties where deeds or other instruments are required as provided in this section, a land contract that is recorded in the office of the county recorder may be cancelled, partially released by the vendor and vendee, or assigned by either of them by writing the cancellation, partial release, or assignment on the original land contract or upon the margin of the record of the original land contract, and by signing it
That cancellation, partial release, or assignment need not be acknowledged, but if written on the margin of the record, the signing shall be attested to by the county recorder
The assignment by the vendee, whether it is on the land contract or upon the margin of the record of that contract, or by separate instrument, shall transfer the right held by the vendee under the land contract in the premises described in the contract unless otherwise stated in the land contract or in the assignment
For copying the cancellation, partial release, or assignment upon the margin of the record, or for attesting it, if written upon the margin of the record, the recorder shall charge the fee provided by section 317
A land contract that is recorded in the office of the county recorder may also be cancelled, partially released, or assigned by deed or by other separate instrument, acknowledged as provided in section 5301
Unless in the form of a deed, a separate instrument of cancellation, partial release, or assignment shall be recorded in the book provided by section 5301
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Protected: Crafting a Note for Buyers
ED FRANKLIN’S cash flow note sales get cash now
Crafting a Note for Buyers
In previous issues, the best method for selling a home in a tough market with seller financing was explained. The benefits to the seller from involving a qualified cash flow finder with a seller financed deal and having a note buyer “on board” before the note is created were also covered. While using seller finance techniques to sell a property are no more difficult than a traditional real estate closing, following a logical and proven plan is the best method for ensuring a successful real estate sale with seller financing.
The sellers’ misconception
Many property sellers stay away from seller financing because they mistakenly believe that creating a note is not a viable solution for selling their home. After all, if they can’t walk away with enough cash to provide the down payment on another property, they’ll be powerless to replace the property they’re selling.
As a consequence of this common misunderstanding, many sellers feel compelled to stick with conventional real estate methods, limiting their options and missing out on the benefits that seller financing could offer them.
In actuality, many notes created through seller financing are quickly sold and the seller ends up with the cash they need. Even better, if the note is created with buyers’ purchasing criteria in mind, the seller could walk away from the closing table with cash in hand. This means that the net result is almost exactly the same as with a conventional real estate sale!
In the cases where the note holder does have a problem selling their monthly payments, the difficulty in liquidating the note is typically a result of one general problem: the note was not created with the buyer in mind. Instead, it was created with only the payer in mind. To ensure that a newly-created note will be attractive to potential buyers, it is important to recognize that their purchasing criteria are important as well.
Too good of a deal
For property sellers looking to sell their note immediately, it would be a grave mistake to create the note by prioritizing only the payer’s demands. A buyer must have a compelling reason to agree to collect payments in order to buy a note, such as a substantial down payment, a respectable payer’s credit score (to minimize risk), a competitive interest rate, or a fairly short term.
An example of a “bad note” from a buyer’s point of view would be a seller financing situation where no down payment was collected, the payer’s credit score was not checked, and the interest rate is fixed at 3%. Basically, this is TOO good of a deal! Even payers that qualify for loans from traditional lending institutions would jump at this offer with no out-of-pocket money required and a rate below prime.
Clearly, the note payer and note buyer are looking for very different things. Payers would love a “no money down” purchase with financing at a low interest rate, but most buyers wouldn’t want anything to do with this sort of note simply because it is a bad deal for them.
In a situation without a reasonable down payment there is nothing holding the payer to their obligation. After all, a payer involved in a “no money down” purchase could walk away and lose almost nothing financially. Abandoning their obligation to pay may hurt their credit score, but it was their substandard credit that forced them into a seller-financing situation in the first place.
When there is no equity in the property (buyers will use the lower of the property value or the sales price to calculate equity), all offers to purchase the secured note will be discounted substantially in order to compensate for the buyer’s risk of default. A heavily discounted buyout offer often means the seller will not be able to get the money they need.
If the seller of a private note needs a large amount of cash immediately, they must be able to sell the note as soon as it has been created. And to quickly find a buyer, the note must meet the general buying parameters of these people, which include a solid down payment, a decent interest rate, and typical terms.
Creating notes that can be sold
Every buyer has their own criteria that determine what they will or won’t buy, but a down payment of at least 10% is a good minimum figure when creating a note. This upfront payment immediately creates equity in the property which acts as the buyer’s safety net in a foreclosure. A competitive interest rate is important because it will make it easy for the buyer to purchase the note and yield the desired profit without much of a discount to the note holder. Finally, keep in mind that people typically avoid notes that do not follow a traditional term (amortized over 120 months, 180 months, etc). A two-year, interest-only balloon term is a perfect example of a note that most buyers would avoid.
The points described above are only a rudimentary starting point for note creation; there are certainly other things that buyers look for when considering a note. It is always a good idea for the seller to contact a qualified note finder in order to get the specific information they need.
The finder will be able to utilize their experience in working with buyers to give the seller general guidelines about what should meet most buyers’ parameters. Of course, there are no absolute guarantees of a quick sale, but when the seller creates a note with the buyer.s needs in mind, it should not be a problem to locate an interested buyer who will give the seller the cash settlement they need.
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Seller Financing to the Rescue
The Problem
When it comes to selling real estate, one of the most difficult and frustrating situations for sellers is when market conditions make it nearly impossible to sell at the desired price point. A high initial listing price might be because the seller simply has an unrealistic idea of how their house stacks up against the competition in the area, or because the owner needs to sell for a set minimum price in order to pay off their loan against the property.
With traditional property sales methods, the only way to prevent the property from sitting on the market indefinitely is to keep dropping the price. Unfortunately, this technique doesn't always work - especially if the seller is unwilling to "discount" their house by much.
In areas flooded with homes for sale, reducing the asking price slightly will not bring the desired result. In fact, it's common that the property will continue to sit on the market without offers, alongside the multitude of other unsold properties with similarly reduced prices.
Anyone experienced in sales understands that making your product stand out from the crowd is a critical technique for success. But if there's too much competition offering the same attributes, the only logical way to attract the attention of serious buyers is to drop the price so that your property is a much better value than the competition.
In cases where the seller is too inflexible with their asking price, this is not a practical solution. Without an alternative strategy, the seller is forced to keep the house on the market for an extended period of time with an unrealistic asking price, hoping for the right buyer to come along. And as you know, that "Mr./Mrs. Right" might NEVER materialize!
The Seller Finance Solution
Property sellers who want to both obtain their desired price and close on the deal quickly should consider seller financing. Seller financing is a powerful tool to remedy real estate situations that otherwise look grim.
Many home sellers (and their real estate agents) do not see seller financing as a viable option. In actuality, seller financing can bring new attention to the listing and invite a different group of potential buyers - thereby opening up a unique, untapped market.
A large percentage of people throughout the country cannot get approved for bank funding to buy real estate because of their credit situation. Many of these people are still in the market to buy a house, however. The "credit-challenged" are often frustrated with the limitations of apartment living or being renters; as a result, many are willing to pay a higher price just for a chance to get seller financing and improve their quality of life.
A savvy property seller who recognizes this opportunity can salvage an unfavorable situation and turn it into a bonafide seller's market. By using this type of creative financing, the seller could actually end up getting more than the original asking price - without resorting to the questionable strategy of patiently waiting for the "right buyer".
Seller finance can enable homeowners to receive a favorable selling price despite bad market conditions. In addition, the real estate agent (if any) gets to close a deal and move on to other sales, while a home buyer with poor credit is able to become a home owner. It's one of those rare situations where everyone at the negotiating table gets what they want.
Paper Tigers
Many home sellers never consider seller financing because they don't understand the benefits. There are also common misconceptions that it's much too complicated to attempt to orchestrate a seller financed deal, or that there are no buyers willing to sign a private note.
Once a property seller takes the time to learn about the basic process, the advantages of offering financing instead of a lower price to sell their property become very clear. Plus, a little education about seller finance will make it apparent that drafting a secured private note is actually a very straightforward process.
The bottom line is seller financing can enable a home owner to "have their cake and eat it too" - i.e., sell at the desired price, close the deal quickly, and even receive additional income from interest payments as well.
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No where else will you find "real" leading edge marketing technology like you will receive from Veretekk services. Traffic Portal marketing is one such innovation. People have become desensitized to the massive amount of bulk email and spam that finds it's way to their mailbox each day. After all, who cares if you have 1 million email addresses, if none of the recipients will ever read anything you send to them!
So how are Traffic Portals different? Simple - because at the heart of it, Traffic Portals allow you to offer something of real value to a prospect. This then allows for an increased level of communication between you and that prospect - setting you further and further apart from the masses of bulk email they receive. Your ability to offer more and more of these valuable services to the prospect continues to widen the gap so that eventually you develop a very strong sphere of influence.
Veretekk has developed a large flotilla of unique, valuable, web based services on a large array of subjects and domains. Each Traffic Portal is equipped with it's own set of automated advertising and marketing tools, and the leads they generate are easily managed with Veretekk's intuitive Lead Management system.
But, it is the viral nature and potential of Traffic Portals that will allow you to truly explode your business. Traffic Portals are designed so that they are not only valuable to your prospect in a direct way... they compel them to use the service in such a way that they are effetively promoting your Traffic Portals for you! Imagine 1,000s of people attracted to you through these Traffic Portals... for the direct value potential... but also for the value they perceive in actually promoting your services to other people. This allows you to turn 1,000s of prospects into promoters for you!
The quality of the leads these Traffic Portals produce is also unique. You are not sharing them with anyone else. No other solution comes close to the value, service and price Veretekk delivers. If you're serious about building a successful online business, your first priority is an Veretekk subscription. Unfair Advantage? There is nothing unfair about taking your time and doing it right. You have to experience it yourself! Give Veretekk a test drive today! It is absolutely free. No obligations whatsoever.
Veretekk was an early pioneer of search engine optimization (SEO) systems, deploying a range of tools beginning in the mid-1990's that allowed subscribers to generate massive backlinks to their webpages and quickly increase their search engine results page (SERP) rankings. Of course Google wasn't even around back then, and thus a great deal has changed in the world of SEO!
Professional SEO experts know that ultimately you can't trick the system! Black hat techniques are risky at best, and search engine spamming will get you banned more effectively than it will increase your ranking. There are a number of proven techniques (even recommended by Google itself) that true professionals are aware of and focus their activities around which will produce good results through consistent effort over time.
That said... Veretekk's Market Manager will greatly streamline your SEO efforts and amplify their effect! The system allows you to leverage the power of around 100 separate high value domains, producing massive (quality!) backlinks to help your PageRank, but also instant and effortless configuration of webpage attributes (title, meta tags, etc.) and massive link swarming tools that daisy chain your portfolio of SEO assets in an optimized way.
Search engine spiders gobble it up! Using the Market Manager, it's not unusual to obtain very high search engine rankings in a matter of hours for well selected keywords. This, the result of a sophisticated web of syndicated pages, each publishing RSS feeds that you control and have easily optimized to maximum effect for the keywords you are targeting. Blog templates allow you to further leverage the system and expand the reach of your feeds out on to as many additional websites and domains you may also own.
Plus the system is packed with other value added SEO tools. The Page Maker function allows you to establish a literally unlimited arsenal of keyword targeted pages for each of your SEO campaigns. The SEO Drill lets you systematically place thousands of keyword rich backlinks into authority site domains. Plus website redirection tools for controlling traffic flow... You won't believe the power of this system!
Veretekk 2.0 is "the social system" for professional online marketers. As such, it's designed to maximize the community experience and benefits each member receives from being part of it. Veretekk attracts business people of all backgrounds... from the work at home Mom that just started a new business to the seasoned advertising executive. That's because the power and effectiveness of the system is surpassed only by it's ease of use.
Sharing between members has a profound effect. After over 15 years in business, Veretekk has an extremely loyal worldwide customer base that benefits every new member through the wealth of knowledge, feedback, marketing tips, and advice generated by the community. The various social tools built into the community (i.e. Friends, Groups, Videos, Credentials, Walls, etc.) help to leverage the massive knowledge bank represented by Veretekk's subscribers so that each new member can soak up the valuable information at their own rate. But Veretekk is much more than an isolated community...
Veretekk allows you to manage and control ALL of you other various social systems from one place! That's because a wide range (and ever increasing) collection of features are embedded throughout the system that allows for instant publishing to your other social accounts like Facebook, Twitter, Google+, LinkedIn, and so on. Push button publishing to all other systems allows members to use Veretekk as their central command center for all of their online marketing efforts! Whether it's direct marketing, search engine optimization, lead generation, product branding, or anything else... Veretekk's social integration technology allows you to harness the power of social networking in today's world.
Explode your business with viral growth! Beyond the direct effects of these social tools, the seamless integration with systems like Facebook allow you (and your customers) to share and spread the word about your business, promotions, products, etc. at lightening speed! Veretekk lets you take advantage of the social phenomenons occurring through advancements in systems like Facebook, but at the same time control and track everything specifically from a professional marketer's point of view!
"Evaluation" is the key to consistent improvement and results. Most people recognize that it does no good to generate thousands of leads if your inadvertently running them right off the cliff! Likewise, there's no better way to squander your marketing efforts than not occasionally stopping to evaluate what's working and what's not. Even if your overall end result is good... it can usually be a lot better if you simply make some minor adjustments to further optimize your campaign.
That's where VereTracking comes in... Long before Google Analytics, Veretekk created a very simple but effective visitor tracking bug that is inserted into all of your various traffic portals and webpages. This simple mechanism allows you to closely evaluate the results of your marketing campaigns. What worked? What didn't? Where is the real traffic coming from and what should you focus on to generate even more?
The Code Tracker system takes it a step further... and allows you to place a small snippet of code pretty much anywhere you want - your own websites, into marketing emails, etc. and funnel the statistics all back to your VereTracking system for analysis. Unlike more robust and heavier systems, the VereTracking code does not delay page load time or otherwise interrupt the functionality on your sites.
The possibilities are endless. Veretekk's web analytics technology is designed to be very simple, yet powerful. This also makes it extremely portable for use in pretty much any application you can imagine. While it's embedded as part of your Veretekk portals and websites, by using it in other systems and services outside of Veretekk you're able to manage the results of everything you do... all from one place!
Detailed statistics reveal all... Veretracking includes all of the key vital stats you need - referring page, visitor's IP address, date and time of the visit, etc... and none of the "fluff" that just gets in your way. Cut through all of the secondary factors and focus on what matters... getting more customers and growing your business!
You are NEVER alone at Veretekk! This thriving community of professional online marketers includes a never ending pool of resources that stands ready and able to assist you. Whether you have a general marketing question or something more specific, you'll find no shortage of "real people" available 24 hours and day, 7 days a week to help you out. Why? Because Veretekk is the real deal. And that attracts serious minded professionals.
Customer support is #1. That's why Veretekk offers multiple ways to get you the help you need... whenever you need it. Center stage to assist you is the Support Wall where posts are often responded to in seconds. If there are any temporary system issues, you can quickly find out all about it as well. Veretekk also offers Skype support for the same purposes.
Live web training conferences! Veretekk goes way beyond just offering customer support. There are up to 100 professional VereTrainers from around the world that offer live training for virtually every aspect of online marketing! Events are easily identified through the calendars at the bottom of this page, and even include events open to the public!
The VereConference rooms are built to impress... And based on member feedback, they do just that! Each state of the art conference room features live VoIP voice communication, text chat, whiteboard illustration, screen casting, synchronized browsing, and more... All of this, developed for the express purpose of sharing valued professional marketing information amongst members.
Members helping members... This is what really sets the Veretekk community apart from anything else online. Legitimate marketing pros know that they can expand their success by networking with other marketers, sharing techniques, and hearing about other people's results... not isolating themselves in an attempt to hold on to their "secrets". Thus unlike other simplistic systems, people come to Veretekk to share and to learn! The community support this fosters is truly unrivaled.
Veretekk is all about "Spam free" marketing. For years as other systems used a single email verification process, Veretekk went further to employ a double-opt in model that prevented 100% of false submissions from ever getting on a member's email list. Furthermore, Veretekk is the only provider of permission based email marketing services that provides the public a simple email lookup tool that lists the date/time and IP address of each submission to the system from that account... along with local and global opt-out functions to prevent abuse.
We take ethial online marketing seriously... Veretekk's terms of service include strict anti-spam requirements. No one likes receiving unsolicited email. Plus, from a marketing perspective... untargeted bulk email blasting simply doesn't work! For those looking for that type of system, we encourage you to engage in the Veretekk community and you will find out about a wide range of other techniques that no only respect people's privacy, but actually produce successful results for your business!
VereMail verification systems. There are, however, a range of applications for which bulk emailing still applies. For example, uploading an email list of your existing customers (that have already granted permission to receive your email), or simply sending out your company newsletter to people that have signed up to receive it. Veretekk provides a full featured email publishing system, including an intuitive HTML editor for designing professional email templates. Each email you send out also gets published on its own URL, which can be used for SEO campaigns or simply archive purposes.
Create your own signup forms! With Veretekk's portable group form code, you can quickly and easily place code into your own websites, allowing visitors to signup for more information, request your newsletter, etc. When they do, the verification system will email them and when they click the link, they are added to your lead database and available throughout the rest of the system for use with any of the Lead Management tools.
Experience live web conferencing! The Veretekk community is much more than blog posts and activity walls... The VereConference system allows members to come together in an even more personal and direct way. It's literally like walking into a room and meeting with other members! Full featured VoIP technology causes you to feel as if you're literally sitting across the table talking to someone. And with webcam support, streaming video lets you see them too!
The training experience... More than anything else, new members want to know "what to do" in order to start successfully using the system and growing their business. That why Veretekk has numerous professional online marketers that have volunteered to become "VereTrainers" and provide online training and workshops on a wide range of marketing topics. Whether you're a newbie that just needs some help with basic HTML for your website, or a seasoned veteran interested in hearing the latest and greatest on how socially integrated marketing can grow your business... there are training events for you!
Conference room functionality. Veretekk's web conference rooms come with a full set of functional tools to heighten the experience for everyone involved. Moderators can push webpages for attendees to see... or upload a quick screen capture for all to see, and pull up the whiteboard to draw on it and better express the talking points. Screen casting allows the moderator to literally show everyone something they are doing on their own computer... or follow along as they browse the web or perform a specific function for all to see.
Plus as a Veretekk Gold subscriber... You get your very own room! And beyond all the tools that come with it, you have the ability to fully customize the conference room itself - style, format, colors, URL of the home page, security and permissions for using video, voice, text, moderator controls, etc. All of this, just another part of the Veretekk system.
Web hosts are all the same... When it comes to web hosting... the service has become a true commodity... meaning, pretty much all web reputable hosting services are the same. There may be small differences in the options and functionality available to you based on the management software each service makes available to you... and some hosts bundle other functions like domain registration and/or simple website templates... but when it comes down to it the main difference between web hosts is just price.
VereHosting is truly unique! You get all the same domain management tools as anywhere else, but Veretekk includes a number of value added features as part of the package. For example, the ability to create webpages on 12 additional aged domains that provide a big SEO advantage! Plus highly differentiated plugins you won't find anywhere else... beyond Fantastico for WordPress blogs, phpBB forums, Drupal systems, etc. you get the integrated VerePress feed publishing system, Veretekk phpBB system, and more!
Green is the future! Veretekk's servers are housed in a completely green and secure facility. The entire company is built upon the focus of a very small footprint on this earth. Our data center is 100% off the grid running entirely on wind energy and geothermal heating and cooling. We also take security very seriously when it comes to hosting services and have developed many unique server MODs to prevent hacking and injection phishing sites. The server farm is fully secured including constant 24/7 monitoring to assure you that your websites are in good hands with Veretekk.
But perhaps the greatest benefit of all is the Veretekk community itself. Unlike any other web host, with Veretekk there is a huge community of other members that can help you with most any question related to hosting. Whether you simply need to set up a new domain, or have a more advanced question about how to make a cron script run... or get your VereBlog feed posting into your phpBB forums... there are many others that have already walked those steps and can help out. Just imagine a virtually limitless pool of resources to answer your hosting questions... and you'll begin to understand how VereHosting is different!
Veretekk created the first self-replicating eBook in the late 1990's. The technology was still in its infancy (PDF files were not even widely used by many people!) Since then, Veretekk has released a small library of professional eBooks, each containing valuable information on a range of marketing topics.
Professional topic and content. Over the years eBook titles have included Building a Better Website, Marketing Masters, Niche Marketing, Web Conferencing, Automated Marketing, Money Machine, and vPanel Hosting... just to name a few!
Viral lead generation. But what makes these eBooks "self-replicating" is the fact that each one contains your own promotional information. Thus, as your prospects download and utilize the free ebooks, each one contains tags and links that funnel them back into your own website and system. When they share the eBook with someone else, the same thing occurs and your lead database just continues to grow.
Veretekk places the power in your own hands. More recently Veretekk released the PDF Duplicator, which allows you to create your very own PDF templates that are tagged with your own promotional information. These PDFs are then available throughout the system for any purpose your choose. Whether you want to write your own eBook, or simply create marketing flyers, mail merge letters, etc., you have the ability to do so with Veretekk.
Continuing education... As time and technology march on, more and more resources are added to the Veretekk portfolio - all of which are immediately available to members. By facilitating a lead generation function, Veretekk's eBooks will always go beyond the basic goal of providing information. They can be a viral component of any marketing campaign and quickly grow your business.
