Grant Trevithick Real Estate Pro Tips

  Grant Trevithick is here to talk about how the process of owner finance actually works. I have been doing real estate in Carrollton, Dallas, Fort Worth, and all throughout Texas and I have come to realize that most people are not familiar with how owner finance actually works. I thought I would take some time and give a brief rundown of the process. Owner financing is a financing arrangement in which the seller of a property provides part or all of the financing to the buyer. This type of arrangement is sometimes called seller financing or seller carryback. Here is a brief overview of the process of owner financing: The buyer and seller agree to an owner-financing arrangement. This can be part of the purchase contract for the property. The seller provides the financing for the property, either in the form of a mortgage or a promissory note. The terms of the financing, such as the interest rate and repayment schedule, are agreed upon by the buyer and seller. The buyer makes monthl...

  Grant Trevithick Carrollton real estate investor here with another pro tip. Today we are going to be talking about some of the top cost effective home improvements that you can make that will add value to the price of your home. Remodel Your Kitchen - Buyers look most carefully at kitchens and bathrooms, so you should, too. You can recoup 82 percent of a minor kitchen remodel and 74 percent of a major kitchen remodel. If you’re selling soon, don’t overspend on your kitchen. You may be able to do a couple of relatively minor fixes, such as replacing the appliances and painting the cabinets, or just replacing the counters with granite to garner a good offer. Update Your Bathroom - While a full, upscale bathroom remodel project can cost over $50,000, you can make cost-effective minor upgrades. Get a 73 percent return on your investment with these bathroom upgrades: Replace your fixtures and your mirror, repaint the space, and jazz it up with some crown molding (depending on your hom...

  Grant Trevithick Carrollton Real Estate Investor here with another pro tip on how to avoid balloon payments and other mortgage pitfalls. Using a balloon payment with owner financing can be a valuable addition to a mortgage note or land contract. In all my years of experience selling homes through out Texas I've seen many sellers and buyers unknowingly combine a balloon payment with high risk factors turning a positive into a negative. Be sure to avoid these common pitfalls when considering seller financing with balloon mortgages. These risk factors will generally make it harder for buyers to refinance when the balloon comes due making delinquency or foreclosure more likely for the note seller or note buyer: Extremely Short Term – A balloon payment due less than three years from the date of sale can be viewed as a negative. The buyer needs sufficient time to address and fix any issues that might have disqualified them from a traditional home mortgage loan at closing.  No Down...