Real Estate Analysis and Commentary in New Jersey

4 Things To Know About Selling Your Distressed Property in New Brunswick NJ

One option a homeowner has available as a resolution to at least partly cover remaining debts in this situation is selling the home directly. Listing your home for sale can be burdensome, many owners of distressed properties find themselves feeling overwhelmed by the process. If facing the decision of selling your distressed property in Mercer County on your own, the task can be daunting, to say the least. We can help you, sell to The Cardwell Thaxton Group now and avoid wasting time, all of the inconveniences, and costly mistakes.

Distressed properties fall under one of three categories: foreclosure, short sales, or REO properties. Regrettably, the property can fall under foreclosure, due to failure to pay the mortgage or tax bills. Without any resolution being reached by the homeowner to rectify the past due to payments, a home could be put up by the lender for sale at a loss, or what is known as a short sale. If a home fails to sell at the foreclosure auction, it becomes what is known as a real estate owned or bank-owned property. 

Should you find yourself in this situation, there are 4 things you’ll want to know about before selling your distressed property in Mercer County. 

Holding the Bag

Should the property sell for less than the lender is due, you’ll still be held financially responsible for the debt remaining on the mortgage, even after foreclosure. This is known as a deficiency balance, which quite often exceeds the value of the homeowners remaining assets and could well lead to having to declare bankruptcy. Even with a short sale, unless it is agreed to prior, you could still end up owing this debt.

Time is of the Essence 

When it comes to taking action to ward off impending foreclosure, this isn’t the time to be indecisive. Don't hide your head in the sand and hope your troubles will go away. There truly is no time like the present. When considering selling your distressed property in Mercer County, don't hesitate. The bank has a countdown going that will not stop and you’ll be losing time and likely money the longer your home sits unsold.

Non-Cash Offers

When you are selling your distressed property in Mercer County, you’ll want to forego working with buyers who have funds that are based on non-cash investments. Time isn’t on your side and sidesteps stalling the sale of your home until they’ve liquidated their assets. You’ll want to be sure that you are spending this precious time wisely and only working with qualified cash buyers.

Assessing Price

It cannot be overstated that setting the price of a property on the market in Mercer County, is extremely important in accomplishing a quick sale. It takes a great deal of investigating to set the price correctly. You’ll need to understand the going rate on the current market, most especially for distressed properties, which often include repairs and other costs that aren't associated with traditional home sales. Making an error on the asking price can cause the property to sit. That is the last thing you want when you're facing the consequences that can come with going through foreclosure. You should be aware, when you are selling a distressed property, you can anticipate selling at below market value.

Listing a distressed property in Mercer County on your own can be brutal! If facing the decision of selling your distressed property in Mercer County on your own, the task can be daunting to say the least. Listing your home on the market is no guarantee that it will sell. Consider selling to The Cardwell Thaxton Group directly instead and avoid all of the stress.

If you need help selling a distressed property in Mercer County, reach out to us to find out what we can offer you! (908) 456 - 1593

 

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.


7 Documents You Need When Selling Your House in Pemberton NJ

Need to sell your house in Mercer County? Things will move along much more swiftly and smoothly if you are prepared from the start by organizing all of your documents.

Paperwork is a given during legal transactions and it’s no different when you’re selling your house in Mercer County. You’ll want to have the following 6 documents in hand, which are ordinarily required in the home selling process before you put your property on the market.

Contract

For a legally binding contract and the ability to settle any disputes after closing, be certain it is signed by both parties. Details on this document for your Mercer County house need to include, the closing date, price, date of occupancy. Additionally, add any conditions for termination as well as inspection dates. Out of state buyers necessitate your being aware that a uniform Commercial Code governs commercial transactions that cross state lines.

Disclose! Disclose! Disclose!

A property disclosure will detail any known defects or malfunctions on the home. Failure to do so can lead to legal entanglements and expenses when selling your house in Mercer County

Title

The deed to your property designates the legal ownership and must be presented to the buyer for careful review. The deed for your house in Mercer County must be transferred after the sale to the name of the new owner.

Occupancy Rider

Timing doesn’t always work out and you’ll want to have n place document should detail responsibilities for any rent, utilities or additional costs or repairs, as insurance policies usually do not cover this period. Should you need to stay in the house after the closing date you will need a post-occupancy agreement. Conversely, should the buyer need to be in place prior to the completion of the sale of your house in Mercer County, this will require a pre-occupancy agreement. 

Third-Party Financing Clause

When you need to sell, you could consider getting a mortgage on your house as another source of financing for your buyer in Mercer County. Should you do so, your third-party financing clause or financing addendum should be attached. In the event your buyer’s traditional mortgage application for the remainder of the financing is denied, you’re protected.

Promise

The promissory note, obtained from the buyer, is a contract written to clearly outline the rights and duties of the parties, which must be signed and dated. For buyers who are purchasing through non-conventional means this is extremely important, as it enables using the seller as the financer, with the property itself acting as the security for the loan. This document should outline the amount of money to be paid, the date to be paid, or detailing the installments to be paid to the holder or payee.

Settlement Statement

HUD Laws now require very specific details of the transaction to be outlined in a closing or settlement statement. At least one day prior to the closing, the buyer has the right to review this statement, in order that consumers are aware of just what they’re being charged in fees at the closing and in financing interest for the term of the loan. Strict adherence to these laws will help you to avoid legal nightmares in the future. Be prepared at the closing, should the solicitor request you to show your proof of identity. The documents should be examined carefully before being provided to the buyer. The broker should verify the information and offer any input should they find errors or information lacking in the documents.

Ready to close on the deal? Gather the 7 documents you need when selling your house in Mercer County and give The Cardwell Thaxton Group a call at 908-456-1593 or send us a message at any time!

 

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.


STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.


Exploring All of Your Options When Selling Your House in Pemberton

It’s been said that selling your home can be more stressful than many other major life events. When you’re under duress and need to sell quickly, additional strain is added to the mix. We’ll help you by exploring all of your options when selling your house in Mercer County. 

Listing Agent

Let’s explore selling your house in Mercer County through a professional real estate agent, which is the traditional method. Agents are paid based on a percentage of the sale price in addition to other possible fees they or their broker may also charge. Market conditions can impact your asking price in this demand-driven market. You’ll need to invest in updates and repairs in preparation for showings while playing a waiting game until the right buyer comes along. Usually requiring inspections of the house, they may also require repairs prior to closing. Sadly, you could end up with a buyer that doesn’t qualify for the mortgage, after taking all of the steps to meet the qualifications from banks and waiting for the mortgage underwriting process and property inspection.

Cash Offers

Because professional buyers usually offer cash, you can expect a quick closing on your house in Mercer County. The sale is usually as-is, which speeds the process even further, saving you both time and money. This also alleviates you of the legal responsibilities associated with disclosure. Professional buyers are taking higher risks, offer faster cash sales, and usually pay the closing costs. For these reasons, their offers are usually lower than properties sold as FSBO or listed on the MLS. Regrettably, there are less than honest buyers who may try to take advantage of time or financial constraints you reveal to them, so research carefully just who you’re working with. At The Cardwell Thaxton Group, we are dedicated to making offers to homeowners that are fair and well thought out. 

For Sale By Owner

Selling a house in Mercer County on your own may sound appealing because you will be controlling everything. Professionals, such as real estate agents or auctioneers, charge fees for their services, cutting into your profits. Should you be experienced regarding legal issues where real estate advertisements and transactions are involved, you can save a great deal of money on the deal. However, it can be extremely costly and legally devastating to make an error on either advertising or how you handle all of the aspects of your sale with the buyer. 

Short Sale

Depending on the circumstances you find yourself in, you may be able to negotiate a short sale with your lender. You will want to note that this is a very slow-moving process which means that the lender has agreed to allow a sale for less than the remaining debt on the loan. 

Auction

Avoiding the headaches of showing your house is one of the favorable aspects of auctions. Additionally, these properties close quickly, selling as-is, so you won’t need to continue to pour time and money into repairs and upkeep of your house in .

Keep in mind the usual fee for their service is a rather high 10 percent of the final purchase price. Because most auctions charge their fees to the buyer, lower bids are likely to be made in the attempt on the buyer’s part to pay a lower fee. Make sure you’re aware ahead of time if you’ll be responsible for their fee, which takes more away from your bottom line. Actually, realizing a sale of the property at auction isn’t guaranteed, there could be low attendance or several properties up for auction at the same time, leading to lower bids.

We’re happy to further explore all of the options for getting started now on selling your house in Mercer County. Just call The Cardwell Thaxton Group today at (908) 456-1593 or send us a message to learn more!

 

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.



A Direct Sale vs. Hiring an Agent When Selling Your House in Pennington

Considering selling? You may be wondering about which is the better option, a direct sale vs. hiring an agent when selling your house in Mercer County. Life events can change your housing situation, at times despite your wishes. The time required until closing with each option is just as much of a consideration as the effect each has on your finances. 

Showing Appointments

You’ll need to ask yourself if you are willing to make yourself and anyone else in your household invisible, while keeping your home spotless at all times? Despite how much you may wish to sell your house in Mercer County, nobody enjoys the hassle of jumping into action and preparing for a showing after a long day at work. Likewise, if your buyer falls in love with your furnishings, they may consider one or several of your beloved possessions as deal-breakers. Along with the agent selling your house, you will need to deal with buyers' agents, who will be the ones showing the home. It’s highly likely they’ll call to schedule the appointment during your very important family time. 

If you’d like to avoid this inconvenience altogether, you may be happier with a direct sale, you won’t need to remain constantly on top of your home’s appearance or worry about staging. You also won’t have to worry about storing anything you don’t want a buyer to catch sight of and decide they’d like “tossed into the deal.”

Investing More Before Selling

Updates to make your home more attractive on the outside and inside add to the expenses of selling your house in Mercer County with a real estate agent. You’ll need to be on top of any necessary repairs. If you don’t pass the inspection which is usually ordered, you could be required to spend even more on repairs in order for the property to qualify for the mortgage loan. Don’t forget, you need to concern yourself with exterior curb appeal and may be advised to cover the additional expenses of staging your interior. You may even be required to cover the costs for professional photography and advertising the property.

When working with a professional buyer, none of the concerns or costs associated with curb appeal or updates will be an issue. Major or minor repairs can be forgotten and worrying in general about your home’s appearance will fly out the window when you sell your house in Mercer County through a direct sale. 

Professional Expenses

Real estate agents charge commissions as well as other charges. Buyers' agents nearly always order inspections.  Inspector's fee is usually your responsibility as the seller. Appraisers and those handling closings charge fees as well, all adding to the cost to sell your house in Mercer County. 

Making a direct sale commonly means that there are no commissions and no inspections, repairs or even the initial investments involved in updates and making the overall appearance of the property appealing.

Delays 

Due to the nature of traditional listings, there is no ETA on the closing when selling your house in Mercer County through a real estate agent. Additionally, depending on the buyer’s circumstances, there may be delays in the actual closing date. 

An upside of selecting a direct sale for your property is that you’ll sell your house in Mercer County within a short time frame and there won’t be any delays in closing due to failed inspections or financing issues. 

We’re here to assist you with any questions or concerns you may have about the choice ahead. Call The Cardwell Thaxton Group today or send us a message to learn more about a direct sale vs. hiring an agent when selling your house in Mercer County. (908) 456-1593

 

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.



5 Ways A Direct Sale Will Save You Money in Pennington

So, you find yourself ready to sell and while you don’t want to pay all of the commissions and fees that come along with a traditional real estate agent, you also dread all that is involved with listing the property as for sale by owner. At The Cardwell Thaxton Group, we’ll take the time to listen to all of your questions about the process and the potential savings involved with a direct sale, get started today by calling (908) 456-1593.

Besides avoiding all of the headaches of listing your home on the market, as a seller, you can save yourself money in the following ways by making a direct sale of your Mercer County property. There are 5 ways A direct sale will save you money in Mercer County.

No Repairs or Renovations

Inspections and appraisals are an integral part of the traditional home selling process, leading many to put thousands of dollars into a home that they’re ready to walk away from. In order to pass inspections, it’s possible that you could end up facing overwhelming repair bills for an issue you weren’t aware of previously. Real estate professionals know that many buyers won’t be able to realize the potential you may feel your property possesses because they can’t see past anything that is outdated. These upgrades can be anything from aging cabinetry to apparent wear and tear in flooring, woodwork, and even the paint on the interior and exterior of the home.

Pack and Go

Cleaning? Sell direct and forget it! Experienced real estate agents know that most buyers don’t have the vision to see beyond your clutter or any apparent decorative flaws. They’ll advise that nearly every surface be free of objects. Most especially photographs or items that are of a more personal nature. Today’s real estate professional will likely advise that you store your own belongings and spend further on staging the home, both for advertising publications and showings. In addition, you’ll need to keep up the exterior curb appeal for these reasons. This allows the buyer to more easily visualize themselves living in the home. You can save all the costs involved in a deep clean of your Mercer County home when you sell directly. In many cases, you can just leave behind any items you’d rather not take along to your new residence. 

Forget Closing Costs

You’ll save money when you sell directly in Mercer County by eliminating most of the normal fees associated with traditional closings. You’ll also forego the fees normally associated with the required reports from appraisals and inspections in most cases. Especially on newer or more recently renovated properties. 

No Marketing Expenses

Whether you are working with a real estate agent or selling your home on your own, any marketing expenses will be passed on to you. Naturally, the more you spend, the better your advertising vehicle and reach to the public. As a part of the marketing plan, you’ll need to have your home picture perfect. 

Monthly Costs Eliminated

The monthly costs of homeownership can add a lot of pressure, especially if you’ve already had to relocate for work or personal reasons. These costs can run into the thousands, including taxes, mortgage, insurance, utilities, and maintenance. If your home is aging, repair bills are usually depleting your funds on a more regular basis and can be extremely expensive. The financial burden and personal stress can add up quickly. By choosing a direct sale, you could quite literally save yourself thousands!

Just pack what you want to keep and sell your Mercer County property directly. You can leave the monthly payments behind sooner than you think. Call The Cardwell Thaxton Group today at (908) 456-1593 or send us a message to learn just how quickly we can help you start saving money!

 

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.





STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.


4 Ways a Foreclosure Will Impact You in Perth Amboy

There are 4 ways a foreclosure will impact you in Mercer County. Besides the obvious strain and emotional impact, the situation can have on your family and personal relationships, foreclosure can also devastate your finances. From the clothes you wear to the car you drive, or even where you reside or work, it will have a residual effect on your life for years to come. 

The Cardwell Thaxton Group is here to listen to you and can address any questions you may have about your specific circumstances and what you can do to avoid these ramifications. Just call 908-456-1593.

By having a better understanding of what lies ahead, you will be better equipped for taking immediate action against the negative consequences of foreclosure from the start.

Your future self will thank you for taking the time to learn more about your options during the process. We’ll cover 4 ways that a foreclosure will impact you in Mercer County.

Denied 

Having a foreclosure in Mercer County appear on your credit reports will cause you to be considered a bad risk. Once this appears in your credit history, it will impact your overall purchasing power. Bad credit often leads to credit applications being denied for credit cards, loans or mortgages. Any financial institution that is willing to approve consumers with bad credit usually charges exorbitant interest and annual fees that those who enjoy good credit avoid. Additionally, it could possibly be a reason you are passed over for employment opportunities. 

Financial Loss

Among the top reasons for home ownership, your equity builds up over time as your debt decreases, and Mercer County property values rise. Your financial gains could be an amount in the hundreds of thousands. Equity is the difference between what your property would bring in the current market, and the amount that is still owed on the mortgage. Depending on your circumstances, a foreclosure will impact your equity either partially or in full, which could be a significant financial loss. 

Debt

By taking quick steps to resolve a pending foreclosure, you can make the decisions on how your home is sold and for how much. Open your mail before it’s too late! Keep the lines of communication open so that you can be on top of what actions your lender may be ready to take and how much time you have to change the outcome in your favor. After a foreclosure you’ll have no such control. Should your Mercer County property sell for less than is still due on your mortgage, you will still be required to make payments on this debt. This is known as a deficiency debt and can have an enormous impact on your lifestyle and family. Not to mention eating into your budget. Additional liability on your credit report will only increase the higher costs associated with having bad credit.

Future Housing 

Foreclosure impacts your housing options in many ways. In general, landlords run credit checks as the first step when interviewing tenants. Naturally, your financial history will make you a higher risk and may cause you to be passed over for more desirable properties. Additionally, your choices in financing will be highly restricted should you wish to purchase another home. Fannie Mae is among the largest in the nation and offers a program with several financial benefits. Should you have gone through foreclosure and seek a mortgage lender, you should be aware that Fannie Mae will require a waiting period of 7 years before you will be eligible under their guidelines. 

Facing the possibilities of a Mercer County foreclosure alone can be very stressful and inaction on your part risks your financial future. Don’t wait until foreclosure begins, let The Cardwell Thaxton Group help lessen your burdens today. Send us a message or give us a call today at 908-456-1593.

 

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.



How To Sell a Probate Property in Perth Amboy

After facing the loss of a loved one who didn’t have a will or investments protecting against the process altogether, probate can mean long drawn-out proceedings, especially with larger estates. 

It can be costly to go through, so avoid making the mistake of skipping any of the legal requirements which can further tie up your property. You’ll need to be patient as the assets of the deceased are analyzed and the rightful inheritors of the estate are determined. Executors may need to liquidate the real estate, leading to the probate court distributing the funds evenly among those beneficiaries.

Should you find yourself in this position, read on for information on how to sell a probate property in Mercer County.

Certain aspects of this real estate law are common among all jurisdictions, for a valid sale, you’ll want to ensure you’ve rigorously followed all of the legalities for selling your probate property in Mercer County.

Certified Appraiser

Your first step will be to locate an independent certified appraiser. You can either reach out through phone listings or word of mouth among probate property real estate professionals in Mercer County.

Petition

Once you’ve obtained your certified appraisal, you’ll next want to proceed by filing a petition with the court to sell the probate property in Mercer County. While filling out your petition, be certain the information includes any pertinent information about the property along with the method that will be used to complete the sale, be it at an auction or on the open real estate market. Submit your petition along with your certified appraisal. Once you’ve obtained the court’s approval, you may then proceed with the sale.

Offer the Property

For sale, with conditions! Now that you can finally take action and sell your probate property in Mercer County, you’ll want to make certain to disclose to your potential buyer that the court’s confirmation of the transaction is required before you can accept, making the offer conditional.

Court Confirmation

Commonly, once you’ve petitioned the court for a hearing to confirm your sale, you can expect delays on the court calendars ranging from between 20 to 40 days, from the filing date.

Deposit

Plan to collect a 10 percent deposit from the buyer at this time, which is based on the purchase price.

Advertise

Because the ultimate goal of the sale of a probate property in Mercer County is to garner the highest amount possible for the estate, you must advertise your court hearing to the general public for a process known as open bidding. This allows any additional interested parties to participate in the purchase of the real estate, aiding in raising the final purchase price.

Court Hearing

Now you’ll need to attend the court hearing and wait until the unconditional bidding has concluded and a cashier’s check is presented for the final figure. Your buyer will be able to participate along with any member of the public who so chooses, bids increase by $500 at a time. 

Refunding the Deposit

Should a new buyer overbid your buyer during the court proceedings, be prepared to refund their 10 percent deposit. Otherwise, should your original buyer maintain the highest bid, the funds you previously collected from them would be applied to the purchase.

Closing

Finally, you can close on the contract for your probate property in Mercer County. Be certain that the costs of the property are covered by the financing. You’ll also be responsible for placing the full amount into the estate fund.

We’re here to assist you during this difficult time and make the process easy. Call The Cardwell Thaxton Group today at 908-456-1593 or send us a message to sell a probate property in Mercer County.

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.





How To Sell A Distressed Property in Robbinsville Township

Life can bring unexpected changes that leave you searching for solutions. Homes can fall into states of disrepair that are far beyond the owner’s capacity to handle. There could have been a death, divorce, illness, or job loss, leading to lost income or a forced relocation at play.

For those who need to know how to sell a distressed property in Mercer County, we’ll cover the options you have available. Traditional listings for this type of property are not suggested as they don’t attract most buyers, take far too long, and are too costly for most owners of a distressed property.

Professional Buyers

There are always two sides to everything, and this holds true when considering how to sell a distressed property in Mercer County. Let’s explore using the service of a professional cash buyer when you’re selling. Due to the nature of cash sales, you’ll benefit timewise because of the ability to perform extremely quick closings. Additionally, the sale is as-is and there won’t be any downtime waiting for the right buyer. Nor will you be required to make the investment of your precious time and money in repairs. Another advantage is you’re not carrying any legal risk, as with selling on your own and since most professional buyers pay all of the closing costs, you’ll save even more.

Now, because the professional buyer is taking all of the risks, and offering the advantages of cash sales, their offers are below the prices being realized in the current real estate market. A word to the wise, do your research on who you’re dealing with. Regrettably, there are unscrupulous buyers who may try to take advantage of time or financial constraints they learn you’re up against. 

Do-It-Yourself

Selling a distressed property in Mercer County on your own may sound appealing because you’re in charge. Additionally, you won’t be responsible for an agent or auctioneer fees, which can negatively impact your bottom line on the sale. If you’re knowledgeable on marketing and all of the legalities involved, while you may need to invest a great deal of time, you can save money by handling everything yourself.

Conversely, inexperience in marketing and the legal details, selling on their own often leads owners to failure. Not only don’t they realize the highest profit on their property through their errors, but they could also end up in a legal nightmare with no way out.

Professional Auctioneers

Property auctions rarely imitate art, where fantastic prices are realized in movies and on television. Avoiding the headaches of showing your property is one of the favorable aspects of auctions. Additionally, these properties close within 30 to 40 days and sell as-is, so you won’t need to continue to pour time and money into repairs and upkeep of your distressed property in Mercer County.

While there are advantages to using a professional auctioneer, keep in mind the usual fee for their service is a rather high 10 percent of the final purchase price. Should the bidder be responsible for the auctioneer’s fee, lower bids overall are incentivized. Otherwise, you’ll be responsible for their fee, absorbing additional costs. Due to the nature of auctions, the outcome isn’t guaranteed, you may be up against the issue of low attendance. There is also the innate competition when a high volume of properties is up for auction at the same time, leading to lower bids.

No matter which you choose, make educated decisions by taking the time to understand all of your options. Would you like to learn more about how we can help you sell a distressed property in Mercer County? Just call The Cardwell Thaxton Group today at 908-456-1593 or send us a message any time!

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.



5 Things You Should Know About Buying Foreclosures in West Windsor, New Jersey

An interesting way to invest in real estate is by buying foreclosures in Mercer County. You see it on reality TV shows where investors can pick them up at a low cost, invest some money in repairs and upgrades, then turn around and sell them for a large profit. There are five things you should know about buying foreclosures in Mercer County.

Inventory is Dropping

The first thing you should know about buying foreclosures in Mercer County is that the overall availability of foreclosed properties is shrinking. There are fewer and fewer foreclosures every day, and the ones that are available are getting snatched up by cash buyers that move extremely quickly. We can help you locate foreclosures in Mercer County, give us a call at 908-456-1593 right now.

Buying at Auction

Unless you are an experienced real estate investor with a large amount of cash to drop on a property, buying foreclosures at an auction is probably not a good idea. At the foreclosure auction, you are not allowed to enter the house nor, have it inspected, so if you do win the property, you have no idea what condition the building is in and you may ultimately lose out. 

Buying Bank-Owned

You can still get a good deal on a foreclosure if it is bank owned, but you may have to make a higher bid if other foreclosures are selling fast. This means other people are buying up foreclosures quickly, and if you really want to get in on this action, you may have to start off with an offer that is close to, or at asking price. If there are multiple offers, you may have to offer higher than asking price and try to keep the contract contingencies to a minimum if you really want that foreclosure. Remember, location and amenities matter, other foreclosures may be selling quickly if they’re in a great spot.

Get it Inspected

In most cases, the seller of a foreclosure is a bank, so there is not a traditional seller to make repairs before closing. The bank will not likely fix anything wrong with the home. They are selling it to try to make as much money back on their investment as possible. Make sure you include an inspection contingency so you can hire an inspector if you are making an offer on a foreclosure, that way you will know exactly what you are getting into if the bank accepts your offer. 

Hidden Costs

Buying foreclosures in Mercer County may come with additional costs above and beyond the purchase price and closing costs. If the owner couldn’t make the mortgage payment, you can probably assume he or she did not pay the real estate property taxes or homeowners association fees if the foreclosure is in a community. You might also become responsible for any utility bills, home equity lines of credit, or other liens on the property. Make sure the title company takes these factors into account when preparing the title commitment. 

You will also have to take into consideration the additional cost of making the necessary repairs or cleaning when you buy a foreclosure. There is no cleanup requirement when these properties are seized, and the previous owners might be a little upset about the bank foreclosing on them and take it out on the property. Repairs to the home might also increase the assessed value and raise the taxes.

At The Cardwell Thaxton Group, we make it easy to buy a foreclosure. Call us today at 908-456-1593 or send us a message to discuss these things you should know about buying foreclosures in Mercer County. We can find the perfect one for you!

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.



5 Signs of A Great Deal When Buying Willingboro Real Estate

As an investor, you are always looking for a great deal, but how can you tell? Here are 5 signs of a great deal when buying Mercer County real estate.

No Zoning Issues or Liens

It is important that you research a potential investment for any zoning issues or liens on the property. If the property you are interested in doesn’t have the right zoning, you may not be able to use the property for your original plans. It is also very important that your intended property does not have any liens on it, for if you did purchase it, they would then become your responsibility to pay, and that would cut into your return on investment.

No Expensive Repairs

If a property you are interested in does not have any serious structural issues, then it is probably worth submitting an offer, even more so if the price is right! Even if the property has a slightly outdated kitchen, you don’t have to replace it if it’s still functional or not destroyed. You don’t have to follow the TV hype of remodeling every kitchen and bathroom of every investment property you purchase. It is ok to remodel them as your budget allows, even if it takes years. You have to make sure the property is profitable first before investing any more money than absolutely necessary.

Priced Near Assessed Value

If a property is priced at or below the county assessed value, you can be sure it is a great deal! Market value is usually between 10-25% above the county assessed value. You need to be careful, because if a property is priced that far below market value, it may have some damage or some other reason why it is priced so low. You may be lucky and have a seller that is extremely motivated with a great property. On the other hand, you may have just found a bank-owned property and it might have some damage.

Passes 1% Rule of Thumb

There is a general rule of thumb that real estate investors use when determining if the price of a property is a good deal. They say that the property should rent for about 1% of the purchase price. For instance, if a property should rent for about $1,400 then the ideal purchase price would be about $140,000 for it to turn a profit. In order to use this rule, you will have to analyze the fair market rental potential of the property.

Curb Appeal

If the property already has fairly decent curb appeal, then that is just icing on the cake! That is hundreds or possibly thousands of dollars saved from potential renovation costs. You will also want to take a look at the overall silhouette of the home and make sure it looks square and healthy. Another important factor of curb appeal is a straight roofline. Sometimes when additions are made or the property withstood damage, the roofline may slope slightly, or might not match the overall composition of the house. Another thing to watch out for is different siding treatments on the home. This may also indicate an addition that lends itself to having structural issues.

If you are a real estate investor looking for a great deal when buying Mercer County real estate, then call The Cardwell Thaxton Group today at 908-456-1593. We will handle all of the legwork to look for your ideal investment property, simply provide the features you are looking for and we will provide you with some options.

Please call us or send us a message to discuss these five signs of a great deal when buying Mercer County real estate.

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.


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