Selling your home doesn't have to be a nightmare. Can you live with about 93 per cent of the appraised value of your home? Would you like to sell it in about 2 weeks?
Through our affiliated funding source, Cash Out $ervices, we have a proven way for you to achieve these ends. Using 21st Century Methods to market your home, you can end the Frustrations and Losses that befall most homeowners.
This is how to do it - step by step. Bear in mind that we will provide all the documentation you need. Plus we will give you guidance with respect to the nuts and bolts of your transaction.
Scroll down for "Seller Assist" Questions and Answers and Examples of Note Purchase Transactions.
1. If you haven't got it, order our Blue Booklet - "How To Sell Your Home in 2 Weeks." It is FREE. For the online version, click here: How to Sell Your Home in 2 Weeks.
2. Send in Seller Registration Document and Credit Report Deposit to Cash Out $ervices. You must have a seller ID number, which we will provide, to communicate with Cash Out $ervices.
3. Order the Appraisal.
4. Using the sample classified ad in the Blue Booklet, design your ad and place it in your main newspaper for minimum 10 days.5. Add “Owner Will Finance” to any yard sign.
6. Make copies of Loan Application, Pre-Approval Document, Loan Information Sheet, Note Sale Funding Disclosure, Sales Contract, and other Property Disclosure Forms. We will provide these documents. Have carbon paper and paper clips so you can make your buyer a copy of the contract, and disclosure forms.
7. Have us consult with you about writing up a note structure for your home.
8. Take all calls live if possible, follow the Blue Booklet qualification questions and commitment statements to the letter. Don’t make the number one mistake many sellers make by changing the techniques in the booklet. This is the best way of selling your home; it works and has been proven over and over. Over 500,000 copies of this booklet have been distributed. It may look a little corny but it works like magic.
9. Arrange to have a person in each 30-minute segment of the evening of the next day, starting at 5:00pm to 6:00pm. Schedule appointments until 8:00 pm. Once those slots have been filled, start doubling the appointments but with a 15 minute difference from the original appointment.
10. Arrange a showing every other day or so depending on the number of calls coming in. Always insist that both husband and wife come together.
11. After the buyer has seen the home and starts asking about the monthly payment or down payment, ask the buyer to be seated so you can go over the numbers with them. Have two chairs ready for the husband and wife. You should be facing them and have all your paperwork on the table in front of you. Go over the numbers and immediately ask them each to fill out a credit application. While they fill out the credit application you start filling out the Real Estate contract. Use our sample as a guideline. When you get to the earnest money section (paragraph #2), ask them how much can they put down tonight as earnest money. Whatever amount they reply with, try to get more. You can say “I usually ask for $1,500 or more, how close to that can you come?" At this point you are simply assuming the sale. You must "assume the sale" on everyone no matter what they may be saying. Keep on writing until you have finished filling out the contract. Go over the credit application visually to make sure all blanks are filled in. Ask them to make the check out to you or the title company. Next, go over the contract with them. Paraphrase each clause. Get initials as you go. Have them sign it at the bottom. You do not sign the contract at this time. This now represents an offer to you to decide whether to accept or not.
12. Sign on all Disclosure forms. Explain that funding and possession will take 2-3 days after the closing at the Title Company. This time is needed to make sure all documents were executed correctly. The note funders require this.
13. You will now give them a copy of everything and tell them you will run the credit and get back to them within a few days.14. If during the time of filling out the paperwork with one buyer, another potential buyer is in the home, excuse yourself and let them know that you have not sold the home yet but that they are just filling out an offer. You won’t make your decision for several days yet. This keeps them interested in doing the same.
15. Phase I begins. After the showing, fax in all the credit reports along with the owner financing pre-approval document to Cash Out $ervices (if you have a deposit with them); or mail the documents in with the credit report costs.
16. Within 24 hours and many times within one hour, you will have a “Letter of Intent” to purchase the note to be created with the buyer. It will contain the description of the terms that will maximize the purchase amount of the note to you. If the buyer does not qualify on any of our programs a decline will be sent/phoned back.
17. You may take as much time as you wish to find the very best buyer for your home that will maximize the cash to you. You have 8 days according to the contract to make a decision.
18. Any buyer that has been declined for a note purchase transaction will require that you refund their earnest money minus any credit report fee.
19. All other buyers still in the running as having some kind of acceptance from us will not have their earnest money refunded until you make a decision as to which one you will accept. Once that has been done, you must return all the others earnest money.
20. This brings us to the end of Phase I. You turn in the Sales contract and earnest money to your local Title Company and request a Title Commitment be prepared. Let the Title Company know you will be using Cash Out $ervices and give them the phone number and address.
21. In Phase II, you simply put all the paperwork together and overnight the package to Cash Out $ervices.
22. Phase III is completed mainly by Cash Out $ervices.
23. In Phase IV, the Title Company will contact you to arrange the day and time of closing. We suggest having the closing done as early as possible in the day to speed up our document examination time. 9:00am is preferred.
24. Try arranging the closing day to be as close to the last day of the month as possible. But allow yourself and the appraisal company and any other parties enough time to complete their tasks. It is advised that you have your closing no less than 45 days from the time you start the showings. Remember you can always close “before” the stated time on the contract if everyone has completed ahead of schedule.
Old Proverb: "A journey of a thousand miles starts with a single step."
Seller Assist Questions and Answers
Examples of Note Purchase Transactions