About Short Sales

Let a qualified Dallas real estate agent help you find the best deals on New Homes in Dallas, TX for you and your family.

There are many new businesses that are relocating to Dallas and if your business is moving to Dallas and you’re being transferred then you should hire a Dallas real estate agent who can help you handle all the details of your move and can help you find a great new home in your price range.

If you’re not from Dallas and don’t live close to Dallas it just makes more sense to work with a Dallas real estate professional who knows the city and knows the neighborhoods that would be best suited to fit your needs and your lifestyles. Plus, often Dallas real estate agents will have the inside scoop on new Dallas real estate is going on the market before it actually goes on the market so you might be able to get the inside track on a great house or condo before everyone else gets a chance to buy it.

With many Americans relocating to Dallas for business nowadays having an insider’s assistance when it comes to buying new homes that haven’t even hit the MLS yet can assist you in getting a great deal on a house that you may not otherwise have been able to acquire. You can only get that edge when you purchase a home using the services and assistance of a licensed Dallas real estate consultant.

Did you know that real estate agents have more access to properties than anyone else? Many real estate agents who have the access to the MLS can find anything from a luxury modern home to a large ranch style home or even a little home at a really low price. For whatever you have in mind there is Dallas agent that is there to assist you.

Let’s focus on a very important task that your agent can help you with. Your agent has access to mortgage brokers that are willing to finance your home and the best price and rate. A good Dallas real estate agent can also speed up the approval process by making the necessary calls and guide you through the essential steps of buying a home. They are usually able to write up any contracts related to the sale without the need of a real estate attorney. Bottom line, if you’ve never purchased a home you’ll find that using a real estate agent can make the dull process of home buying seem more pleasant. Don’t miss out on the next great deal and hire yourself some help.

Purchasing any real estate anywhere over leasing a condo may seem like a terrifying thing to do. But remember that in the long run you will be pleased with the decision of buying over renting. Don’t hesitate; real estate is on your side.

A bridge loan is basically a short term loan — usually repaid in less than a year. The reason for a bridge loan, or bridging finance, is to cover the expenses of the borrower until a more long term loan or funding is secured. Bridge loans provide immediate cash flow for borrowers as payment for various abrupt financial obligations while waiting for the approval of standing deals or contracts.

You can expect your bridge loan to carry a high rate of interest, and you will need to secure it with collateral. Bridge loans work by bridging the gap between the time a borrower meets his immediate financial obligations until such time he can avail of a more permanent and long term loan. People use bridge loans in numerous financial situations.

Business owners may acquire bridge loans to finance the needed working capital of their business while awaiting equity financing deals which could only be completed after several months.

People often resort to bridge loans when they are planning to sell a home. The real estate market in a specific area can move slowly at times, or a home can just be difficult to sell. People who purchase a new home before selling their existing home may take out a bridge loan so that they can pay for their expenses and financial obligations until a sale is finalized on the existing home and they have access to the proceeds. A bridge loan may also be used as “chain breaking”, meaning a borrower may use it to purchase a new house even while their old house is still on the market.

Bridge loans are often used to protect or improve one’s credit record. A borrower may apply for a bridge loan to finance payment of an outstanding debt, thus making a good credit standing and allowing one to apply for other loans that are more permanent and larger in amount. While they are still moving from one job to another, or waiting to be hired, people may find bridge loans indispensable. Likewise, people can also use of these types of loans to cover cost of relocation demanded by a new job.

Bridging finance can often be acquired in just 24 hours, as the high interest rate, short duration, and collateral backing alleviate the need for extensive background checks and risk consideration.

If you’re presently a landlord or planning to be one, you need to protect yourself against the damages that can potentially occur to your properties and your overall financial health. It isn’t likely that you’ll need all of the forms of insurance I’m going to cover in this article, but you should know what each one can do for you in the event you ever have need of them.

I can’t stress enough the importance of having adequate insurance, especially if landlording is your entire livelihood. Compared to catastrophic losses (fire, floods, tornadoes, liability suits, etc.), insurance costs are definitely a bargain!

Insurance Types * Title insurance-this establishes who owns the title and prevents you from throwing away money on a property that might legally belong to someone else. * Fire insurance-never skimp on protection in this area! Recommendation: insure your properties for top value, or the insurance company may discount their payment. For example, if you paid $100,000 for a house and it’s worth $120,000, but you insure for only $100,000, then that hundred-thousand is all you’ll get. * Liability insurance-always have this insurance. My recommendation: read the policy carefully and note any exclusions! If necessary, pay the extra money to have specific exceptions included in the policy. If you do any building, remodeling, or painting, you may also want to get a separate contractor’s insurance policy * Extended coverage-this insurance is also called “comprehensive” coverage or a “package policy.” Quite often, it’s offered along with the standard fire insurance policy, and it’s an investment well worth the price. This type of coverage can protect you from damage caused by a variety of phenomena–hail, windstorms, smoke, rioting, falling trees, vandalism, freezing temperatures, landslides, accidental water discharge from burst pipes, etc. Tailor the coverage to your particular geographic area. * Earthquake coverage-this is always a separate policy. If you live in an earthquake-prone area, you should obviously have this policy. Nature’s might can destroy your property in a matter of seconds! * Flood insurance-insurers consider flood damage different from water damage caused by burst pipes and such. So, if you live in a flood-prone area, make sure you have this coverage. * Vandalism/malicious mischief-this is cheap insurance and worth the price. It can pay for repairs caused by vandals who damage or destroy your property. * Property improvements insurance-a standard building policy doesn’t cover damage to such items as swimming pools, fences, signs, parking lots, and other areas. So, because weather can badly damage these items, it pays to have them covered as well. * Business interruption insurance-this is “loss of rent” coverage. Here’s an example: if a fire damages one of your properties, making it unlivable for a while, then you’ll lose rent until that damage is repaired. In the meantime, fixed expenses keep piling up! With business interruption insurance, the insurance company compensates you for loss of rental income over a specified period. * Mortgage insurance-the objective of this insurance is pay off the balance of your outstanding mortgage if trouble strikes. Believe me, it’s well worth the price. Check with a lender for the type you need. * Boiler/machinery insurance-this is wise coverage to have with larger properties. Boiler explosions can have horrific results. Needless to say, claims can be large for these awful accidents, and you definitely don’t want to shoulder the expense. This insurance is also a good idea because the insurance company will inspect the equipment on a regular basis. In effect, the insurance company becomes your partner in maintenance and safety.

Other Forms of Insurance to Consider * Management insurance–if you manage properties, get management insurance so the insurance company handles any lawsuits for you. * Umbrella policy-this is called “umbrella” insurance because it’s designed to give liability protection above and beyond the limits of other insurance policies. That is, it kicks in when the liability on other polices has been exhausted. Depending on the insurance company, you can get an umbrella policy with an additional one to five million in liability protection. * Workers compensation insurance–a definite must if you have employees and/or contractors working for you. As far as accidents are concerned, it’s better to be safe than sorry. This insurance also protects you against frivolous lawsuits. * Legal Protection–legal protection is a kind of insurance so it pays to have the services of an attorney for two reasons: to handle lawsuits and to handle insurance companies reluctant to pay in the event of covered damages. If you find a personal lawyer too expensive, an alternative is to use pre-paid legal services. They’re relatively inexpensive, charging a monthly fee in the range of $10-30 a month. Check out the American Prepaid Legal Services Institute for a partial listing of plans and services. Or try Pre-Paid Legal Services, Inc. for coverage of civil cases or work-related criminal cases.

Key Idea: Don’t be “penny wise and pound foolish.” That is to say, never skimp on insurance coverage; your property investments are far too valuable to worry about saving a few bucks on premiums.