| Believe it or not, the most stressful part of real estate | | | | is a sellers market, on the other hand, you might be |
| investing is making a sale. During this phase of the | | | | able to fetch more than the market value of the |
| investment there are so many things that can go | | | | property. |
| wrong, and your profit depends on making a smooth | | | | Once you have settled on a price, you need to market |
| and quick sale. While most sales do go through | | | | the property. This involves advertising the property and |
| smoothly,the uncertainty and anticipation can keep you | | | | showing it to perspective buyers individually and at |
| worrying late into the night. This is especially true if you | | | | open houses. During this phase you should also |
| choose to bypass an agent and sell your property on | | | | contact your attorney to draw up the necessary |
| your own. | | | | purchase contract forms. This purchase contract will |
| A brokerage agent does do a lot of leg work during a | | | | need to be signed by you and the buyer once you |
| sale, but all of it comes at a cost. Hefty brokerage | | | | have negotiated an offer. |
| commissions turn many investors off of the idea of | | | | After you have negotiated an offer, the real work |
| using an agent and onto the idea of selling the property | | | | begins. Now it is time to close the deal. To do this, you |
| themselves in the hopes of increasing residual income. | | | | will need an escrow company to perform the closing. |
| If this sounds like something that you would like to do, | | | | This is the time of paperwork as you will need to |
| follow the following steps for selling your investment | | | | provide the buyer with disclosure statements and he |
| property. | | | | will need to provide you with a loan commitment letter. |
| The first thing that you need to do to make your first | | | | Inspections are also performed during this time and a |
| sale in real estate investing is to calculate the asking | | | | title search will be completed by your escrow |
| price for the property. You can do this by hiring a | | | | company. Next, you will need to meet with the escrow |
| professional appraiser to price the home or by | | | | company and buyer to sign the paperwork, pay closing |
| checking the sales prices of comparable homes in the | | | | fees to the escrow company; pay off the mortgage; |
| same area of your property. This is normally done at | | | | and pay or put aside any taxes owed. |
| the court house by comparing similar recent real | | | | As you can see, the closing phase is the busiest time |
| estate sales prices within a few miles of your | | | | of selling your first property in real estate investing. But |
| property. You should also take into consideration the | | | | it is also the most exciting. This is where all of your |
| current real estate market. If the market is a buyers | | | | hard work pays off and you get to walk away with |
| market, you will probably have to lower your price. If it | | | | the profit. |