Foreclosure and preforeclosure are two terms that are commonly used in the real estate industry. While these terms may sound similar, they have very different meanings and implications for both homeowners and potential buyers. What is Foreclosure? Foreclosure is a legal process that occurs when a homeowner is unable to make their mortgage payments. When … Continued
Stopping the foreclosure process of your Virginia home can be difficult, but not impossible. Dealing with the banks, negotiating terms, and stressing over your mortgage can feel completely unbearable, but luckily you have lots of options available to you. Foreclosure is more common than you might think and can affect millions of Americans every year. … Continued
If you own a home when you file for bankruptcy, it becomes part of the bankruptcy estate, the property or assets you own. In October of 2022, there was a twenty-seven percent increase in chapter 13 bankruptcy filings over the previous year. Bankruptcies, including all chapters, total a seven percent increase overall, which correlates strongly … Continued
Home sales usually fall into one of three main categories: traditional sales, short sales, and foreclosures. For buyers, each has pros and cons, though generally speaking the cheaper properties are short sales and foreclosures. But if you’re a buyer, you need to keep in mind that these properties are usually cheaper for a good reason. … Continued
Owing more than your house is worth is not a favorable position if you should need to sell, even more so if you are under pressure to sell quickly for personal or financial reasons. Often already under a great deal of stress, taking on the sale of a house can seem like an overwhelming proposition. … Continued
If you’re concerned about your property going into foreclosure due to circumstances beyond your control, the optimum scenario would be to work with your lender for a resolution before things go any further. However, going through the foreclosure process can be made easier when homeowners understand what lies ahead, so read on as we explore … Continued
In order to bring more long term value to the rental property–especially if you’d like to sell in the near future–it’s often recommended a landlord should keep up with regular maintenance any ultimately make the necessary repairs. You can find ways to save money making repairs in order to always keep your property in tip-top … Continued
For those who may be ready to sell yet can hold onto a house that is ready for rental for a few years longer, the rent-to-own scenario provides some perks that make rent-to-own an option worth considering. There is a large buyer pool waiting for these opportunities, seeking to attain the lifestyle that homeownership affords … Continued
Anyone who’s been a landlord for any length of item knows that headaches and hassles are simply part of the job description. And number-one among those headaches/hassles is problem tenants. For truly bad tenants in Virginia, eviction is always an option. But that can be a lengthy and expensive process, so it’s better to find … Continued
There are a variety of reasons why your tenant may ask to sub-lease in Virginia. Some landlords are fine with it, while others are not. Learn more about the process in our latest post! Sublets can work out just fine so long as the tenant has received the permission of the landlord. All contracts need … Continued
There is a great deal to learn about the real estate investment business. While everything can look great about your investment property on paper, dealing with people is not so cut and dried as working with numbers. Whatever you do, do not skip any step in screening tenants, especially checking references and contacting previous landlords. … Continued
The exit strategy you use to sell your house can make all the difference in earning the highest possible returns on your real estate investment. An extremely lucrative alternative to selling your house outright, lease options offer a way for you to earn a higher return on the sale. At the end of the agreement, … Continued
Need to sell your house quickly in Hampton Roads? Offering owner financing can help you sell fast, while still getting the price you want. Learn more about the process here!
Going through a divorce can be an emotionally taxing experience. It can also be financially draining, especially when it comes to dividing assets such as your Virginia home. In fact, one of the biggest assets that couples have to navigate during a divorce is their shared home. However, selling your house directly in a divorce … Continued