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Alternative Homeownership Program

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How Realtors Can Help Homebuyers Make Tough Decisions

Real estate agents do more than just show homes and write contracts. Realtors get to know homebuyers and their families, guide them through a complicated process that is both stressful and emotional, and help them make tough decisions throughout. The expertise and experience of real estate agents is vital to a buyer’s success.

tough decisions
photo credit: @rodnae-prod accessed 9/23/21 via CC0

So how can agents help homebuyers make those tough decisions, when emotions are running high and so much is at stake? We’re sharing a few tips from McKissock.

How to Help Homebuyers Make Tough Decisions

  1. Keep them informed: Involve buyers in all parts of the homebuying process, not just touring homes and closing. Keep them updated throughout, and be available to answer questions.
  2. Help maintain perspective: It’s easy for buyers to get caught up in the cosmetic details of a home that aren’t really relevant to their goals and needs. Remind them of their “must-haves” if they start to get off track.
  3. Be honest: Honesty can ward off confusion and disappointment later in the buying process. Be upfront throughout the process.
  4. Be patient: Homebuyers won’t have the same level of understanding about the buying process, even if they’ve been through it before. Answer their questions patiently and kindly, and they’re more likely to remain calm and level-headed.

If you have clients who are unable to qualify for a mortgage, consider the Slow Flip contract for deed. Contact us to learn more!

The Slow Flip contract for deed program helps families in the Twin Cities metro area of Minneapolis, St. Paul and surrounding suburbs purchase a home using a contract for deed, or CD, when a mortgage is not possible.  The Slow Flip contract for deed can be an ideal tool to purchase a home when buyers need time to adjust their income, credit, debts or other financial components so they can eventually qualify for a mortgage.

Are you or your clients interested in learning more about the Slow Flip contract for deed? Contact us at 952-417-0000 today.

A Moving Timeline to Make Your Move Easier

Whether you’re relocating across the country or down the block, moving into a new home is a big and daunting task. But after helping dozens of families find new homes, we at Slow Flip have learned a lot about the moving process – and what makes it easier. Follow this general timeline for a smooth and stress-free move.

moving timeline
photo credit: @cottonbro accessed 6/29/21 via CC0

A Timeline to Make Moving Easier

Two Months Before Your Move

  • Create a moving budget and source materials
  • Get familiar with the new home’s floor plan
  • Schedule repairs and cosmetic upgrades
  • Complete change of address forms
  • Transfer medical records and prescriptions, if necessary

One Month Before Your Move

  • Hire a moving company (or secure help from family and friends)
  • Declutter and donate unwanted clothing and home goods
  • Locate and gather all essential documents
  • Start packing!

Two Weeks Before Your Move

  • Pack everything except the items you use every day
  • Arrange for a dumpster or additional trash disposal
  • Make preparations for your pets on moving day

Moving Week

  • Pack everyday essentials to unpack in the new home first
  • Confirm all moving day plans
  • Clean your home or hire a cleaning service
  • Once empty, defrost refrigerators and freezers

The Big Day!

  • Take a final walk-through of the new home
  • Keep valuables and important papers with you at all times
  • After items are moved, check for any damage
  • Settle in and enjoy your new home!

The Slow Flip contract for deed program helps families in the Twin Cities metro area of Minneapolis, St. Paul and surrounding suburbs purchase a home using a contract for deed, or CD, when a mortgage is not possible. The Slow Flip contract for deed can be an ideal tool to purchase a home when buyers need time to adjust their income, credit, debts or other financial components so they can eventually qualify for a mortgage.

Are you or your clients interested in learning more about the Slow Flip contract for deed? Contact us at 952-417-0000 today.

How to Buy a Home Before You Sell

There are many good reasons to buy a new home before you sell your existing house. Not only will it make your offer more attractive, but it will make the moving process easier. And it could result in higher offers when you put your house on the market.

However, without income from the sale of an existing home, it’s often difficult to find enough money for a down payment, and you may not qualify for a mortgage on the new home. But that doesn’t mean it’s impossible. Here are a few ways to buy a home before you sell.

buy a home before you sell
photo credit: @cottonbro accessed 02/15/21 via CC0

Take out a home equity line of credit

This is an essentially a second mortgage on your current home. The cash received from the loan can be used for any purpose.

Put down a smaller down payment

While most people put down 20%, it isn’t always required. There may be situations in which 15% or even 10% is permitted, with varying terms and conditions.

Borrow from your 401(k)

Not all plans allow this, so the first step here is to talk to your HR department or plan administrator. This is probably not a good option if you can’t quickly repay your 401(k).

Use a gift from a family member

Many mortgage lenders will allow you to use a gift from a family member for a set portion of the down payment. However, this must be a true gift, not a loan. Also, consider that you may be subject to IRS gift tax regulations.

Contract for deed

Because a contract for deed is not subject to mortgage regulations, there is no consideration of a debt-to-income ratio or similar requirements. As long as buyers can raise the required down payment, a contract for deed is an excellent way to buy before you sell, allowing you to buy a new home, move, and then focus on selling. Once the old house sells, simply convert the CD to a mortgage.

If you think a contract for deed could help making your buying, selling and moving process easier, contact your realtor or give us a call.

The Slow Flip contract for deed program helps families in the Twin Cities metro area of Minneapolis, St. Paul and surrounding suburbs purchase a home using a contract for deed, or CD, when a mortgage is not possible.  The Slow Flip contract for deed can be an ideal tool to purchase a home when buyers need time to adjust their income, credit, debts or other financial components so they can eventually qualify for a mortgage.

Are you or your clients interested in learning more about the Slow Flip contract for deed? Contact us at 952-417-0000 today.

Small Changes That Add Big Value to Your Home

Whether you’ve just moved into a new home or you’ve lived in your house for years, the prospect of making upgrades can feel daunting. But you don’t need to make major changes to see improvement to your home’s value – or your enjoyment of it. Realest has a rundown of easy changes you can make to add value to your home, which we’ll summarize below.

value
photo credit: @karaeads accessed 11/15/20 via CC0

Add Light to the Living Room

Because living rooms are often central within a home, they can feel dark and closed off. Adding lighting, either via lamps and overhead lights, or a skylight or suntube, can make a big difference in the feel of the room.

Upgrade Bathroom Fixtures

A complete bathroom overhaul can be expensive. To get a fresh feel in the bathroom without undergoing a major renovation, simply upgrade the fixtures. This is also a great way to make your bathroom more eco-friendly by adding low-flow and sensor-activated fixtures, which could be a huge selling point.

Clean Up the Yard

The yard is the first thing that potential homebuyers see when they arrive at a home. Creating a functional and livable outdoor space will add significant value, and it’s relatively easy to do. It’s also a great idea to add a patio or deck that connects to the house, creating additional space for living, dining and entertaining.

Address Pain Points

Are there parts of your home that make life more difficult? Are there any small changes that could make living there more pleasant? Any upgrades you make will boost your home’s value – and allow you to enjoy it more.

The Slow Flip contract for deed program helps families in the Twin Cities metro area of Minneapolis, St. Paul and surrounding suburbs purchase a home in Minnesota using a contract for deed, or CD, when a mortgage is not possible.  The Slow Flip contract for deed can be an ideal tool to purchase a home when buyers need time to adjust their income, credit, debts or other financial components so they can eventually qualify for a mortgage.

Are you or your clients interested in learning more about the Slow Flip contract for deed? Contact us at 952-417-0000 today.