Published at Saturday, February 16th, 2019 - 15:26:29 PM. House. By .
How to Sell Your House Privately : To sell your house privately can be an exciting challenge for most people but can also be a daunting task especially if youve never done it before. While selling your house privately is never as easy as you think, its certainly a feasible way to avoid paying thousands of dollars in commission to a real estate agent. If youre confident you can do it or just want to give it a go, youll need to know the ways in which you can market your house so that you receive a quick hassle-free sale as well as achieving the best sale price possible. Here are several ways that you can market and sell your house privately... Sell Your House Privately - Tip # 1: Internet The Internet is probably the most utilised form of contact for buyers looking for a house so you should have your house listed on the Internet, but on probably no more than two websites (any more than two is unnecessary). Unfortunately the major sites realestate.com.au and domain.com.au dont allow private sellers to list their houses for sale. However there is a loophole...several private listing real estate websites actually subscribe as members to the above websites. So if you list your house with these private listing sites theyll automatically list your house on whichever of the major two sites that theyre subscribed to (for a price). Otherwise you can simply list your house for sale on a private sale website such as PrivateSales.com.au. Sell Your House Privately - Tip # 2: Flyers/Leaflets According to statistics, something like 80% of homebuyers buy a house within 5km of where they currently live. This being the case, its a great idea to create your own flyers using Microsoft Word or Microsoft Publisher and have them printed professionally by a printer. Flyers are usually dirt cheap so shop around for the best deal. Youll probably need around 5000 to make a splash in the area (in metropolitan areas) and something like 15,000 flyers would create a good coverage of your local area. You can deliver them yourself (if you have the time), or you could use a mailbox distribution company such as Salmat or PMP Distribution (These are Australias two largest distribution companies). Your cost of delivery will probably be a minimum of 5 cents per flyer under a certain delivery amount (say 30,000). This is quite cheap when you consider that youd either have to deliver them yourself (you could probably only deliver a few hundred per day) or have to pay a commission to a real estate agent. For ideas on how to design your flyers, simply copy the best ones that you receive in the mail from the larger franchised agencies such as Ray White, LJ Hooker etc. Remember to use a catchy headline at the top of your flyers eg. HUGE family house on a BIG 1200sqm block. Expect a 1% response rate on your flyers eg. Deliver 5,000 flyers and you likely receive around 5 calls. Sell Your House Privately - Tip # 3: Newspaper Newspapers are the most traditional way of advertising a house for sale. There are two ways you can advertise in the newspaper. You can have a display ad which is simply a picture ad along with a certain amount of text allowed (these are the most expensive ads but you can specify the unit size of the display ad from a small one unit up to an entire page depending on your budget). The other type of newspaper ad is a classified ad. A classified ad is a text-only ad that allows headings, bolding, underlining, bordering and even some coloured text to make the ad stand out. All of these features come at an additional cost but classified ads are the cheapest types of newspaper ads available. Prestigious and/or expensive houses usually work best as display ads since this is where your target buyer is looking for these types of houses. Sell Your House Privately - Tip # 4: Magazines Advertising your house for sale in magazines is a more niche way of advertising your house simply because magazines usually have a specific niche that theyre targeting their publication to eg. Country Property Magazine. This is not necessarily a negative; in fact it can be very positive because you have more qualified homebuyers looking in these publications for a house. Most magazines will have display ads as well as classified advertising available; again it depends on your budget as to what ad youll use. Sell Your House Privately - Tip # 5: Word of mouth Word of mouth is often overlooked as a possible way to market a house. You can spread the word through family, friends, workmates, business colleagues, schools, membership clubs that youre involved with, sporting teams. You could create some flyers and hand them out, send out a broadcast email for friends to forward or even organise a private open house for friends and friends of friends. Sell Your House Privately - Tip # 6: Signage Signage is a great way to attract local interest in your house. Itll create a stir in the neighbourhood and may even help you achieve a sale if one of your neighbours friends wants to move to the area. You can have a sign made by most printers; the material or product to ask for is a corflute sign to advertise a house for sale. Most printers are probably involved with a local real estate agency and create them often. It may set you back a few hundred dollars but shop around and see what you can do. Sell Your House Privately - Tip # 7: Open House Your end goal with all of your marketing is to get potential buyers to inspect your house and one of the most common ways for buyers to inspect houses for sale is through open houses. They offer buyers a somewhat anonymous way of inspecting a house without any sales pressure. Its a great way to screen buyers to see which ones are ready-to-buy so that you can spend the most time with those buyers. Create your own Inspection Register and get the names and contact numbers of everyone who inspects your house. This is not only good for the sales process but also for general security of your house. Have a set presentation for when you first meet potential buyers to let them know about some of the features of your house. Its a good idea to have brochures or flyers on hand to give to buyers. Questions to ask potential buyers are: Have you been looking for a while or are you just getting started? (if theyve just started looking they will need to be educated about prices in the area. They can potentially be time wasters as they dont have any reference points to compare your house with others. In addition to this, the type of house they think theyre looking for could be completely different from the one they actually buy after theyve completed some research. Are there any features that you particularly like about the house? How does this compare to other houses youve seen? Sell Your House Privately - Tip # 8: Investor Groups There are always investor groups or buying clubs that have a database of members that are constantly on the lookout for investment opportunities and could be suitable for you to approach to sell your house. A few downsides to these groups is that theyll want to buy the house for the lowest possible price and generally wont be emotionally driven to buy the house which can affect your end selling price or even negotiating power. If you have a particular urgency in selling your house then this option could be for you. A lot of these types of clubs promote the fact that they buy houses for cash with a quick settlement period. Several of these groups include WeBuyHouses.com.au and The Investors Club Sell Your House Privately - Tip # 9: Postcards Postcard marketing is a more unique and modern way of promoting your house for sale. They work the same as flyers except that your ad is printed on postcards that are then distributed to letterboxes. Its best to have them distributed by companies such as Salmat and PMP Distribution. Sell Your House Privately - Tip # 10: Publicity Publicity is probably THE most underutilised way to sell a house privately (or through an agent). Publicity is great for a number of reasons; first of all, its free, and secondly and most importantly, publicity promotes your house from a third party perspective. Instead of you saying my house is so great... you have a third party saying this house is great, you should go and see it!.
Everything You Need to Know About Section 8 Housing : For years, youve worked persistently for long hours yet your pay is just not enough to take care of your expenses. Health care, utilities and rising food prices are barely covered by your wage. Pretty soon, your take-home pay wont be able to keep up with your familys growing expenses. This distressing scenario plagues millions of American families today. Their salaries just cant be stretched enough to adequately provide for housing expenses. If you are a legal United States resident and dont earn enough money to cover rent or mortgage payments, you may want to consider applying for the federal governments Housing Voucher Program, which is also referred to as section 8. What is Section 8? The Housing Act of 1937 provided for financial aid to be paid by the federal government to local housing agencies or LHAs to make the living conditions of low-wage earning families better. Section 8 of the Housing Act of 1937, usually just referred to as Section 8, mandates the payment of federal housing assistance to landlords for the benefit of about 3.1 million families with low income. It makes housing assistance possible through various programs, with the Housing Choice Voucher program being the largest, which subsidizes most of the rent and utilities payments of about 2.1 million families. The Department of Housing and Urban Development (HUD) manages and funds the Section 8 programs. There are about 2,400 public housing agencies (PHAs) that administer the program locally. A Brief History of Section 8 Section 8 housing had its beginning during the Great Depression. The passing of the U.S. Housing Act by Congress constituted the start of federal housing assistance in the country. It furnished the money to build quality yet affordable low income housing apartments for financially-challenged wage earners. These units are administered and maintained by local authorities. The U.S. Housing Act was revised in 1961 to give way to the Section 23 Leased Housing Program which allowed low-income earners to take up residence in private low income housing apartments leased by local authorities. Tenants agree to pay a certain percentage of the rent, while the difference between the tenants payment and what the landlord would have normally received in the open market. Building maintenance were also performed by the local housing authorities. In 1974, the Act underwent another revision which provided for the creation of Section 8. Rather than build and manage public housing, it aimed to assist low-earning tenants who were allotting the greater part of their earnings on rent payment. Federal funds were now used to pay a portion of the rent in housing units chosen by the renters on the open market. Since then, several more legislations were passed to amend and refine the Section 8 program. The Critical Need for Housing Assistance The 2005 HUD report to Congress stated that the almost 6 million renter families in the country who dont benefit from public housing assistance suffer from worst housing needs. A huge bulk of these families have undergone severe rent burden which HUD describes as paying in excess of 50% of the wage-earners income for rent. Other households made their homes in second-rate buildings. Groups being given priority by Section 8 are composed of low-income households with children, senior citizens and handicapped individuals. Likewise, the Department of Housing and Urban Development and the U.S. Department of Veterans Affairs have a Section 8 program called the Veterans Affairs Supportive Housing (HUD-VASH) which distributes a number of housing vouchers to qualified homeless U.S. armed forces veterans. The Housing Voucher Program The main Section 8 program is currently engaged in the housing voucher program. Housing choice vouchers are locally distributed and managed by public housing agencies or PHAs. The Department of Housing and Urban Development (HUD) provide federal funds to these PHAs to manage the voucher program. A voucher can be project-based which means its use is confined to a particular apartment complex. PHAs may appropriate up to 20% of their vouchers for this. A voucher can also be tenant-based where the tenant can freely choose any housing that passes the criteria of the program and is not restricted to units within subsidized housing projects. The tenant may choose to rent a housing unit in the private sector, is not confined to any particular apartment complexes, and can choose to live anywhere in the U.S as long as the total rent meets the standards established by HUD. This can include living in Puerto Rico which has a Section 8 program managed by a public housing agency. Under the housing voucher program, households or individuals who are eligible for Section 8 funding are given a voucher which allows them to find and rent a unit where they will be responsible for paying 30% of the rent. The housing voucher will pay for the remaining 70% of rent and utilities. Most families pay for section 8 housing using 30% of their adjusted income, which is a familys total earning less the deductions for dependents below 18 years old, senior citizens, handicapped individuals, full-time students, as well as medical expenses and disability assistance. The voucher program is currently subsidizing the rent payment for nearly 2.1 million households in the United States. Whats more, these vouchers can be used at times by low income households to pay the mortgage or purchase a house. Prioritization of Housing Voucher In many instances, your local public housing agency will receive more applications than it can afford to approve vouchers for, and will as a result create a waiting list of applicants. PHAs can move certain applications forward or put them way back of the waiting list, and may choose to grant priority to households who are presently without a home or are residing in second-rate housing, wage-earners who spend more than half their income in rent, or individuals who are displaced against their will. Know more about prioritizing by inquiring at your local public housing agency office. Since section 8 isnt actually an entitlement benefit, people who become eligible for a housing voucher cannot be 100% sure that theyll get one. According to the latest figures, only 1 out of about 4 households who qualify for housing assistance receive it. Waiting lists can take long to be processed. In several places, eligible applicants fiercely compete with other applicants for vouchers. Due to the huge volume of demand, some LHAs have entirely ceased taking in applications. For instance, in New York where rents are exorbitant and oftentimes beyond reach of low-income earners, many households set their sights on section 8 vouchers. Today, as the country teeters toward the reality of the sequestration cuts to the federal budget, it seems that New York City may miss out on up to 6,000 section 8 vouchers that were intended to be made available this year. In Chicago, more than 2,300 households are on the waiting list. Recipients are picked out of the list by a lottery held every month. Only when the list is exhausted will the application process resume. Requirements to Qualify for Rent Assistance Putting these realities on one side, if you belong to a low-income bracket and you require rent subsidy or other support provided by the voucher program, you first need to make sure that you have what is financially required to qualify for Section 8 housing. Whether you qualify or not is dependent on certain factors which include your total household income, how much rent you are paying, the members of your household, the average income in your locality, and your assets. Income requirements differ from place to place, but as a rule you will need to have a total household earning of not more than 50% of the average income in your locality. The program is open to all U.S. citizens and people with legal immigration status. Another criterion is the number of your household members. Your Section 8 income limit gets lower as the members of your household gets fewer. Other factors are also put under consideration by HUD and its local agencies when checking an applicants qualifications. Generally taken into consideration are homelessness and other factors that are linked to a particular location like involvement in a local welfare-to-work program. Other criteria that may help you get considered for assistance are: • presently living in a homeless shelter • working over 42 hours each week • being a veteran of the U.S. Armed Services (widow or widower) • suffering from disability • being a senior citizen 62 years old and over • having children LHAs should also give priority to very low-income households whose total earnings dont even amount to 30% of the average income in the area. 75% of the new applicants that get qualified for housing assistance each year must be near or at the lowest-income level. If you think you have every reason to qualify for a housing voucher, you must go and get in touch with the public housing agency in your locality. You can get all the information you need on the HUD website including local office address, toll-free phone numbers, and email addresses. Dont get yourself fooled by professional con artists. There are fly-by-night agencies that will promise to help you to get all the Section 8 paperwork done for a certain fee. You can get all the help you need to apply for a housing voucher at no cost just by visiting your local public housing authority or your federal HUD office. Bear in mind that no person should ever ask you for money for a low income housing assistance application. Anyone who charges you for a voucher or an application can be arrested for fraud. Obligations Since a public housing authority approves the housing unit of a qualified household, the landlord and the family head sign a lease agreement. At the same time, the PHA and the landlord sign a contract for housing assistance payments that will run concurrently with the lease. This demonstrates that the PHA, the landlord and the tenant all have roles and obligations they must fulfill under the program. 1. Tenant Expect some delays before you receive the final decision on your application. Many applicants can be on the section 8 housing waiting lists for months, or possibly even years. If your application gets approved by the local PHA and you have received a housing voucher, you have to be absolutely sure that your present or future living situation meets HUD safety and health requirements. If you are renting, youll be asked to sign a one-year lease with a willing landlord who will be obliged to provide you with safe quality housing and fair rent. The landlord may require the tenant to pay a security deposit. After the first year, the landlord can draw up a lease renewal contract or allow the household to reside in the unit on a monthly lease. Know how much rent youll be paying. Section 8 housing requires you and your household to pay 30 percent of your monthly adjusted gross income on rent and utilities. The voucher you received will cover the rest of the cost. Visit your local PHA if you need help in determining how much you need to allocate each month. When the household has moved into the new home, each member is expected to abide by the lease and program rules, keep the housing unit in good condition, pay the percentage of rent promptly, and inform the PHA of any changes in family composition or income status. If you need to, you can move to another area without losing your eligibility to Section 8 housing. Just be sure to inform your local PHA ahead of time, terminate your lease according to its provisions, and look for another housing that will comply with HUD safety and health criteria. 2. Landlord The landlords responsibility in the voucher program is to provide tenants with a suitable, sanitary and clean low income housing unit with a fair rent. The living space must meet the HUDs housing quality criteria and must be kept up to those criteria for as long as the landlord receives housing assistance payments. Whats more, the property owner will extend the services that were agreed upon as was mentioned in the lease signed with the tenant and the contract signed with the public housing authorities. The landlord cannot charge the tenant any extra money except that of the reasonable rent and cannot accept any amount of payment that is outside the contract. Although required to follow fair housing laws, landlords are of no obligations to take part in the housing voucher program. Therefore, some landlords can refuse to accept Section 8 tenants. This may be due to several reasons such as: • Not desiring the government to get involved in the landlords business, as in conducting a full inspection by government workers of the premises for HUDs housing quality standards and the probable redress that may follow. • Concern that the tenant or members of the household will fail to keep proper maintenance of the unit. • Finding that the programs rent price is below the landlords expectation. • Not willing to take matters to court to evict a tenant. According to HUD requirements, judicial action is required to evict section 8 tenants, even if there were other legal procedures allowed. • Depending on state laws, it may be against the law to refuse to accept a tenant just because they have Section 8. Landlords have only past eviction, credit, criminal history and other general means of disqualifying a potential tenant. Other landlords, however, seem to have no beef against accepting Section 8 tenants. This could be because of: • The long waiting list can provide a vast reserve of potential tenants. • Generally on-time payments sent by the PHA for its share of the rent. • Tenants are motivated to take care of the low income housing unit to avoid paying for damaged property. Owing a previous landlord money can be ground for a tenant to be disqualified from the program. 3. Public Housing Authority The public housing program manages the voucher program locally. It provides a qualified household with housing subsidy that allows the family to look for a decent housing unit. The PHA signs a contract with the landlord promising to provide regular housing assistance payments for and on behalf of the tenants. Should the landlord fail to comply with their lease contract obligations, the PHA can immediately discontinue sending assistance payments. The PHA will re-assess the households income and composition for any changes at least once a year and must conduct an annual ocular inspection of each unit to make sure that it complies with HUD quality standards. Research appears to suggest that the section 8 program has yielded a lot of happy and productive results. It helps millions of households live above poverty level, have more money to spend on food and health care instead of rent, and improve their quality of life. It has helped families to move into safer neighborhoods and has reduced the number of homeless people. As a result, it has also lowered the incidences of anxiety, depression, and other mental and emotional problems.
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