Learn About Selling Rancho Santa Fe Homes

Rancho Santa Fe Homebuyers Quandry

Armed with the Comparative Marketing Analysis, it is time to approach your lender to see if you can get financing without selling your current Rancho Santa Fe. In most cases, financing will be contingent upon selling your home but you may be able to obtain interim financing sometimes known as a Bridge Loan.

Rancho Santa Fe. How Much Should You Offer?

Or more precisely, what does the seller owe on the property. If a seller owes $400,000 on the Rancho Santa Fe real estate he or she is not likely to welcome an offer for $350,000. If you want to negotiate price, make sure you don’t waste your time negotiating where there is no room to budge.

Even if the loan is high, if the seller is in default there is a possibility of a short sale as many lenders will reduce the loan balance in order to move the property. Most lenders do not want to foreclose and manage homes and the Rancho Santa Fe market is no exception.

Rancho Santa Fe. How Much Should You Offer?

Comparable sales figures is a good guide for homeowners who are pricing their Rancho Santa Fe and a good guide for prospective buyers. Make sure you compare homes that are similar to the one your are considering...the same neighborhood, the same size, the same condition. Also, make sure you compare sales within the past six months.

Ask your REALTOR for a comparison of the list price and sales price of comparable Rancho Santa Fe sales. This information may give you a trend and a guideline for your offer. For example, maybe homes in the area have consistently listed for more than they actually sold for. If that is the case, find out what percentage of reduction occurred. Use this information as a basis for your offer.

Bitten by the Rancho Santa Fe Home Improvement Bug?

Maybe, like millions of Americans, you can’t help it! You live in your Rancho Santa Fe home for several years and before you know it, you find yourself thinking about how the kitchen would look with new cabinets and a granite countertop. Should you start with the kitchen or would it be better to add a home office to give the family a little more room? There seems to be endless options for the creative Rancho Santa Fe homeowner bitten by the Home Improvement Bug. Once you get started thinking along these lines, it usually doesn’t take long before the ultimate question pops up. Is it better to improve your current home or simply sell and buy a bigger, newer or more desirable Area home? Here are some issues to help you make that all-important decision.

Buying a Rancho Santa Fe Fixer-Upper

Finding the right Rancho Santa Fe fixer upper often involves finding a seller who is in financial difficulty and wants to sell in order to protect their credit or to avoid foreclosure. Various government agencies such as VA, HUD, IRS and others offer homes in foreclosure for sale and these homes can make excellent fixer-uppers. Bank owned properties known as REOs, real estate owned, offer good opportunities since financial institutions want to eliminate their real estate holdings by selling foreclosures quickly.

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The Benefits of Selling Rancho Santa Fe

In order to sell Rancho Santa Fe as your personal residence, you must have lived in it for two out of the five-year period ending on the date of the sale of the property. This means that you can buy a second home and live in it as your personal residence while renting out your first home. If, in a couple years you decide to sell your first Rancho Santa Fe personal residence you can sell it and still benefit from the $250,000 to $500,000 Capital Gain tax exclusion. The law says that the home must be your personal residence for at least two out of the past five years.