In today’s recession hit real estate market it is becoming increasingly difficult to sell property at the desired rate as people are unable to raise finance to pay for those large amounts and also with the credit bubble bursting, there is less enthusiasm to get financing from banks. In this situation the way you market your property is becoming an increasingly sought after art and more and more people are using new unconventional methods to sell their properties and even in this recession some people are able to sell their properties at their desired rates. It just takes a bit of imagination and forward thinking. Some of these unconventional methods are listed below
Housing for international students
It is well known that education in the United States Of America Is considered as one of the best in the world. According to statistics available on the internet more than 200,000 international students have entered into the US to study this year alone. These students when come to a foreign land require accommodation and most of them book houses or apartments for themselves over the internet. So by targeting these international students, houses and apartments can easily be sold at affordable prices as many of these students can afford the prices and with more then 150,000 plus students entering the United States every year and looking for accommodation there are plenty of opportunities to sell.
In today’s fast changing world with the advancement of technology and easier communication links with the rest of the world there is an increase of property buying for international clients. For example many businessmen from many oil rich nations such as Saudi Arabia, Bahrain, and UAE etc. are looking to invest in property in the developed world (USA). As they feel there is a lot of potential in our market and also that our real estate market is a safer investment and returns are greater than in their own markets. So by advertising to these international clients a person can sell his property at the required amount as these clients generally are not that well aware of the prices and also because there main aim is the safer investment environment rather than cost.
Offering seller finance option
In the current market position financial institutions such as banks are hesitant to lend you the finance to buy property due to the ongoing economical climate and also because of the risk of bad debts. That is why in order to facilitate the easy selling of your property you can offer seller finance facility. In this financing method the buyer and the seller have a direct contract without the involvement of any financial institutions and the seller lends the money to the buyer upon the payment of a certain amount of money. They then work out the interest rates and repayments plan among themselves and then once the buyer fulfills the repayment plan he owns the property outright. Basically this is a kind of a mortgage except that there are no banks involved and the buyer and the seller are the ones who make up the conditions.
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