Combination Plans

Sometimes the best way to have your cake and eat it too is by using a Combination Plan. Combination plans generally combine 2 or more strategies at the same time. Using this strategy the seller has more options (and more chances for success more quickly) than with one single strategy. We came up with this option after studying and helping many homeowners navigate difficult situations. In some cases, this is how we best serve our clients and that’s why it’s become a popular choice.

_____________________________________________________________________________________________

Combination Plan Example #1

- Current Appraised Property Value: $200,000

- Existing loan(s) payoff: $175,000

- Typical costs of sales: ~$20,000

- Sales price needed to break even: $195,000

In this example, the seller wants to SELL FAST and wants to sell for FULL PRICE, but unfortunately lives in an area where there is more than 10 months of inventory on the market.


Solution:
 
Combination Plan: Traditional Listing and Wrap Around Mortgage

- List home with Realtor in MLS for $200,000

- Offer home to investor with financing for $210,000

By listing the home in the MLS at full price the seller “may get lucky” and find a buyer within his timeframe. As a backup plan, the seller also offers the home with a wrap-around mortgage through an investor. Because the second option includes owner financing, in general such a property will sell FASTER and at a PREMIUM PRICE. Of course if the seller does not feel as comfortable with the backup plan, he may opt to try plan A for some pre-determined period of time first. For example he may say “I want to try a traditional listing for 60 days, and if we don’t get an offer, we offer the owner financing as well.”


Combination Plan Example #2

- Current Appraised Property Value: $150,000

- Existing loan(s) payoff: $140,000

- Typical costs of sales: ~$15,000

- Sales price needed to break even: $155,000

In this example, the seller wants to SELL FAST and needs to sell for a PREMIUM PRICE because of the amount owed on the loan(s).


Solution:
 
Combination Plan:
Traditional Listing and Mortgage Payment Assignment Sale

- List home with Realtor in MLS for $155,000

- Offer home to investor with financing for $140,000 with a $10,000 + down

This is a very common scenario. By listing the home in the MLS at full price the seller “may get lucky” and find a buyer within his timeframe – although this is not likely because most buyers are looking for “deals” and there are plenty out there.

As a backup plan, the seller also offers the home with a mortgage payment assignment program through an investor. Because the second option includes owner financing, in general such a property will sell FASTER and at FULL OR A PREMIUM PRICE. Of course if the seller does not feel as comfortable with the backup plan, he may opt to try plan A for some pre-determined period of time first. For example he may say “I want to try a traditional listing for 60 days, and if we don’t get an offer, we offer the owner financing as well.”


Combination Plan Example #3

- Current Appraised Property Value: $300,000

- Existing loan(s) payoff: $240,000

- Typical costs of sales: ~$30,000

- Sales price needed to break even: $270,000

- Seller is BEHIND ON PAYMENTS – 2 months, $6,000

In this example, the seller needs to SELL FAST to avoid foreclosure and would like to receive some equity if that is possible.


Solution:
 
Combination Plan:
Traditional Listing and Mortgage Payment Assignment Sale and Short Sale (TRIPLE COMBO)

- List home with Realtor in MLS for $290,000

- Offer home to investor with financing for $250,000+ with a $20,000 + down payment

This is another very common scenario. By listing the home in the MLS at full price the seller “may get lucky” and find a buyer within his timeframe – although this is not likely because each month the seller falls further behind on payments and the property gets closer to foreclosure.

As a combo plan, the seller also offers the home with a mortgage payment assignment program through an investor. As a second backup, the investor also begins to negotiate a short sale.

If a traditional buyer is not found it is likely a owner finance buyer would want the property and the home can be purchased through the mortgage payment assignment program.

If a mortgage payment assignment buyer is not found quickly and with sufficient money to pay for the closing costs, fees, and back payments, then the home can still be sold through a short sale – which will allow the seller to avoid foreclosure.

Now that’s getting creative! As you can see, finding alternatives that meet the needs of our clients is our #1 priority. We know how difficult and frustrating selling a home can be, especially if there’s not a lot of equity. That’s why we’ve studied the market and come up with solutions that work for our clients and ultimately enables them to move to the next stage of their lives

IT'S ALL ABOUT HOMES, LLC can recommend a Realtor to manage combination plans. Because it will be a Realtor that we also have a relationship with, there will be no additional charge to you for doing a combination plan with us. In other words, if plan A works – great, the property is sold and the Realtor is paid by you. If plan B works, great, the property is sold and the Realtor is paid by us (and the new buyer).

If this is an option you wish to explore, Contact Us! We are part of a national network that buys and sells large volumes of properties. Our network has gone through the painstaking process of interviewing and even hiring scores of realtors, to determine who the VERY BEST ONES are, and we would be happy to refer these Realtors to you at no charge.

Contact Us

 Privacy Policy

SellMyHm.com Privacy Policy

This statement discloses the privacy practices for SellMyHm.com. 

We takes privacy very seriously. Any user information we collect is considered private and is not used or shared, except as permitted herein, without the user's permission. We use personal information to provide the best quality service possible.

Information Collected:

SellMyHm collects user information from several areas including the 'New Member Registration' area (where user's name, street address, email address, the adding and editing of property information; the adding and editing of personal profiles and any surveys or contests that we may sponsor. SellMyHm may track the IP address of a user's computer or place a "cookie" in the browser files of a user's computer. This is required by our services to provide automated features.

Use of Information Collected:

Collected information helps us better understand its users' needs in order to improve its product and service offerings. Email addresses are used by members to login to the SellMyHm service.

  • Your email address will not be sold to anyone.
  • Email addresses are not revealed to users of the website or 3rd party affiliates or companies
  • Users of the system may be referred to by their first name only
  • Last names are not revealed to users of the website or 3rd party affiliates or companies
  • Communication occurs through an internal messaging system to protect privacy
  • Information provided in buyer profiles or property profiles, such as property criteria, personal buying    criteria, keywords, comments, and property photos will be made available to users of the website.
  • Property profiles that have been designated as 'Public' will be available to search engines, including Google, Yahoo, and others
  • Use of Communication Tools:

    You may NOT use the communication services or other email services that we offer to send spam (i.e. unsolicited commercial email) or otherwise send content that would violate SellMyHm's Terms of Use.

    Shared information:

    Though we make every effort to preserve user privacy, we may need to disclose personal information when required by law wherein we have good faith belief that such action is necessary to comply with a current judicial proceeding, a court order or legal process served on our Web site.

    While we endeavor to work with other sites and companies with a similar respect for user privacy, we cannot be responsible for the privacy practices of other sites.

    Please be aware that in the event SellMyHm merges with a third party, or in the event all or substantially all of our assets are acquired by a third party, customer information, including personally identifiable information, will be shared and/or transferred to such third party. The information may only be used or shared by such third parties for the primary purpose for which the information was originally collected. If such third parties, or if SellMyHm for its own business needs, desire to use the personally identifiable information for another purpose, you will be notified prior to the information being used for a new purpose, and you will have the opportunity to opt out of such new use of your personally identifiable information.

    Security of personal information:

    SellMyHm's clients and their personal information are considered to be our greatest asset and thus their privacy is treated with the utmost regard and respect. We'll take every reasonable precaution to secure personal information within both its computers and its physical premises.

    We follow generally accepted industry standards to protect the personal information submitted to us, both during transmission and once we receive it. No method of transmission over the Internet, or method of electronic storage, is 100% secure, however. Therefore, while we strive to use commercially acceptable means to protect your personal information, we cannot guarantee its absolute security.


    Testimonials:

    We post customer testimonials on our web site which may contain personally identifiable information such as the customer's name. We do obtain the customer's consent to post their name along with their testimonial prior to any posting of such testimonial.

    Opting-out, editing, updating or deleting personal information:

    SellMyHm utilizes email as a vital and primary communication channel with registered users and customers. As a registered user/customer, you hereby acknowledge and grant SellMyHm the permission to communicate with you via email (as well as other communication channel such as phone and fax) for any purposes SellMyHm determines to be relevant including, but not limited to, system messages, product updates, service announcements and other marketing messages. SellMyHm will use best efforts to honor customers request to opt out of marketing messages, but under no circumstances will SellMyHm have any liability for sending any email to its registered users/customers.

    You may correct or update your personally identifiable information by making the change on your member profile page. 

    Changes to this Privacy Statement:

    SellMyHm reserves the right to modify this privacy statement at any time, so please review it frequently. If SellMyHm decides to change its privacy policy, we will post those changes to this privacy statement, the homepage, and other places we deem appropriate so that you are aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it.

    Make a Free Website with Yola.