Uncategorized Archives - Nyahwa Properties

How To Avoid Running Into Mortgage Paying Trouble for Georgia Homeowners

jenglish647 — Wed, 28 Jun 2023 19:59:46 +0000

You may think it’s only the tenant who has a hard time paying the mortgage, but as a real estate investor or landlord, there may be times when it’s hard to pay the mortgage on your end as well. Here are some things you can do to avoid facing difficulty in paying your mortgage each month.

Keep your properties full. While it may sound overly simplified, this is the most obvious method for ensuring you’ve got rent money coming in each month to cover your property mortgage payments. Don’t allow yourself to get slack on advertising for new tenants. And don’t put off screening applicants or filling your properties because you get busy or overworked. Recognize filling your vacancies as a major aspect of your REI business success and deal with it quickly and efficiently every time.

Do your best to find quality tenants. While you want to keep your properties full, finding good quality tenants is key. By “good” it means they pay their rent on time, keep the property maintained and don’t abuse the lease. By using background and credit checks, you can find the best tenants available and thereby do what’s possible to keep your rental fees coming in regularly, which will help you pay the mortgage when it comes due.

Look for longterm tenants. Don’t assume that quality tenants will necessarily be longterm ones. Some good renters may know they can’t stay over a few months at most. They may be students or working a temporary job. They may just be living in an area waiting to move or retire somewhere else. Whatever the situation, opt for longterm renters when the choice is available. Doing so will make filling a vacancy at least a more infrequent possibility.

Keep the property well maintained. If you want good tenants, longterm tenants and tenants who pay their rent on time, do your part to keep them. Deal with maintenance issues quickly. Make repairs as necessary. Upgrade appliances or at least ensure the ones you provide are in good working order. Respond to your tenants’ calls quickly, or if you can’t be sure they know you’ll be unavailable for awhile.

Being a good landlord will go a long in way in developing lasting relationships with your tenants, which will in turn, help you keep them in your property longer. Often a tenant and landlord relationship can turn an average tenant into a great one simply because they want to keep that relationship intact.

In a tough economy, it’s important to do all you can to avoid facing the difficulty of paying the mortgage. That applies just as much to an REI professional as it does to the average renter. These simple tips can help as you work to develop lasting, longterm, rent paying tenants to keep your properties bringing in the income you need every month.

The post How To Avoid Running Into Mortgage Paying Trouble for Georgia Homeowners appeared first on Nyahwa Properties.

How Does Foreclosure Work In Georgia?

jenglish647 — Wed, 28 Jun 2023 19:51:24 +0000

If you find yourself facing foreclosure (or even threatened by the prospect of it), it's absolutely critical to understand how the foreclosure process works in Georgia.

Understanding the Foreclosure Process in [market_state]

What is foreclosure anyway?

Legally, foreclosure is the official process by which a mortgage lender attempts to take back real estate property (a home) securing a loan (a mortgage) - usually after a borrower (or a homeowner) stops making payments.

By no means is foreclosure fun, but it's not the end of the world.

By knowing how foreclosure works in Georgia... you'll be much better equipped to navigate it well and come out on the other end in the best position possible.

Stages of the Foreclosure Process

Foreclosure works differently in different states around the country, but there are a few stages that are important to any foreclosure process.

There are generally two ways different states use to foreclose upon a property: judicial sale or power of sale.

Connect with us through our contact page or by calling us at (678) 665-4177 to have us walk you through the specific foreclosure process here in Georgia.

In either scenario, a foreclosure action typically doesn't make its way to court until 3-6 months of missed payments. Usually (but not always), a lender will send out several notices letting you know that you're overdue or behind in your payment.

Under Judicial Foreclosure:

Your mortgage lender must file suit in the court system.

You'll get a letter from the court demanding payment.

You'll have 30 days to bring payment to court to avoid foreclosure (sometimes that can be extended).

If you don't pay after this period, a judgement will be entered and the lender can request the sale of your property - generally through an auction.

Once the property is sold, the local sheriff serves an eviction notices and you must vacate the property.

Under Power of Sale (Non-Judicial) Foreclosure:

The lender serves you with a notice demanding payment, and the courts are not required - although there may be some level of judicial review.

After the established waiting period has gone by, a deed of trust is drawn up and control of your property is transferred to a trustee.

The trusteed can then sell your property to the lender at a public auction (notice must be given).

So, What Happens After A Foreclosure Auction?

After a foreclosure is complete, the amount of the loan is paid off with the proceeds from the sale of the property.

Sometimes, if the sale of the property isn't enough to pay off the loan, a deficiency judgment can be issued against the borrower. A deficiency judgement is where the bank gets a judgement against you, the borrower, for the remaining funds owned to the bank.

Some states limit the amount owed in a deficiency judgement to the fair value of the property at the time of the sale, while other states will allow the full loan amount to be asssesed.

Here's a great resource that lists the state by state laws when it comes to deficiency judgements.

Generally, it's best to try to avoid a foreclosure auction. Instead, call up the bank to negotiate, or work with a local, reputable real estate firm like us at Nyahwa Properties LLC to help you negotiate discounts off the amount owed to avoid having to carry out a foreclosure.

Experienced invested can help you by negotiating directly with the banks - or even eliminate the prospect of a foreclosure, even if your home is worth less than you owe.

If you're currently facing foreclosure and need to sell a property near Georgia, please let us know. We can help!

We buy houses in Georgia like yours from people who need to sell fast!

Give us a call anytime at (678) 665-4177 or fill out this quick form to get started today! >>

The post How Does Foreclosure Work In Georgia? appeared first on Nyahwa Properties.

I’m Relocating And Need To Sell My House In Georgia

jenglish647 — Wed, 28 Jun 2023 17:25:49 +0000

Relocation is a complicated exercise in coordination. We get local Georgia home sellers calling us or submitting their house info on this website every week saying "I'm relocating and need to sell my house in Georgia ". The great thing is that we're able to help a good many of those sellers sell their house quickly (because we're actively buying houses in Georgia right now!).

There’s an insane amount of details to keep together, plus the stress of whatever is making you move in the first place – often it’s a new job or a sick relative, but the true need to move always comes with a dramatic change.

So how do you make the most out of a difficult situation?

Don’t Agonize – Organize.

You don’t want to be in a situation where you end up paying to own and maintain a vacant house for 2 years. That gets expensive and it doesn't have to be that way.

Although the market is relatively stable right now in Georgia, things can change in the blink of an eye. We’ve heard some serious horror stories over the past couple of decades. Unless you’re filthy rich, you probably can’t afford to wait it out.

So how do you make the right choices when you're relocating and need to sell your Georgia house fast?

Relocating And Need To Sell My House Fast In Georgia... Your Options And Steps

First...

Find out what your house is worth: To do this you can contact a reputable real estate agent or connect with us and we can give you a no cost no obligation valuation on your property. Once you know what the house may be able to sell for in the current market... that sets the basis for how long you may or may not be able / willing to sell the house.
Decide how fast you need to sell your house after you relocate: This is a biggie. I've seen professionals who moved out of state for a job who had their house on the market for over a year before selling it for a much much lower price than they hoped. Decide how fast you need to sell your house... and how long you're willing to keep making 2 mortgage payments, insurance payments, etc.
Find a solid real estate agent BEFORE you start packing boxes: Get the ball rolling early so you don't waste any time. Every month that you wait or every month that it takes to sell the house... costs you money. Or if you don't want to use a real estate agent to sell... we are a reputable local house buyer and we'd love to make you a fast-fair all cash offer. Just fill out the form through this link to get started >>
Calculate the value of selling your house fast vs. "waiting it out" for a dream price: We all want to sell our houses for as much as possible. But one thing many people forget to do is come up with the $ amount of how much it costs you to hold onto this house. The costs involved include the mortgage (which if you're still within the first 10 years of the mortgage, the majority of your payment interest and not hardly going to principal at all), insurance, taxes, maintenance, etc.Lets say you want to sell your house for $200,000... and your mortgage payment is $1,200/mo, taxes $200/mo, $100/mo for insurance, and $100/mo for maintenance (lawn maintenance, repairs while you're gone, etc.).Those expenses add up to $1,600/mo in "non equity building" expenses.If it takes you 7 months to sell that house through a real estate agent for that $200,000... it cost you $11,200 in DIRECT "holding costs" + you had to pay $12,000 in real estate agent fees (assuming 3% for the buyers agent and 3% for the sellers agent).Totaling $23,200 in LOST money. That doesn't even account for the value of your time, your stress in thinking about that property sitting on the market, the opportunity cost of what you could have been doing with that extra money during those 7 months, etc. So the real cost to you was likely closer to $30,000.But, what if you were to sell your house next week and avoid all of that?Even if you sold for a discount below the retail price (lets say... $175,000)... you're still ahead of the game by selling the house NOW at a discount to a home buyer like our company vs. 7 months later at full price (and paying holding costs and real estate agent fees).Make sense?
Take action!: Whatever you decide... decide and take action. If you want to go the real estate agent route, great! Find a reputable local [market_city] [market_state] agent. If you'd rather not have to wait and not have to pay real estate agent commissions... then a viable option may be to sell your house to us 🙂

If you've got a lot of time on your side and a really great property, you might want to test the market by offering it out at a high price. There’s a small chance someone might just fall in love and be willing to overpay – people do crazy things for love.

Most properties are pretty average, in reality. They tend to be like the other houses around them, in the same way that people who live near each other tend to have a lot in common too. So unless your property is truly exceptional, as in magazine-quality extra-special, you won’t capture the most money in the market by pricing at the highest point.

You can also win by marketing your property for rent and sale at the same time, just to see what happens first. You have to maintain control of the process, which can confuse even seasoned real estate brokers.

In certain situations, we may partner with property owners to help secure lease option agreements where highly qualified purchasers rent the property for an agreed time before buying.

In other cases, we may help renegotiate a loan, help make monthly payments or conduct a short sale with a bank.

We love helping people solve complicated problems.

Creative solutions can bridge the gap to get you where you need to be.

Who Is Nyahwa Properties And How Can We Help You If You're Relocating And Need To Sell In Georgia?

We’re investors. We support our families and beautify neighborhoods by buying houses from Georgia home owners who need to sell fast for one reason or another.

The types of sellers who tend to work with us include people who...

Need to sell fast (we can close in as little as 7 days if you need us to)
Don't want to hassle with listing a property with an agent
Don't want to pay real estate agent fees
Can't sell their house for one reason or another (we buy houses in as-is condition)
... or a variety of other reasons

But we’re passionate people, and we believe in the Georgia community.

We’re honest and straightforward.

We’ll quote you a fair price, and we can close fast with cash.

If you’re prepared to wait and can hire professionals to help, you can manage the sale of your property from a distance. In certain circumstances that risk can pay off.

We’re happy to help you find answers to your toughest questions about your Georgia real estate, so please feel free to call us at (678) 665-4177 and chat with us anytime.

The post I’m Relocating And Need To Sell My House In Georgia appeared first on Nyahwa Properties.

Selling My House Fast in Georgia

jenglish647 — Wed, 28 Jun 2023 16:45:59 +0000

You need to sell your Georgia house fast right? If you're saying... "I'm having the toughest time selling my house fast in Georgia"... you're at the right place 🙂

These tips will help you get your property sold.

[NOTE: Most important - if you really need to sell fast, consider the option of selling for cash offer to a qualified local investor like Nyahwa Properties LLC

Selling My House Fast in Georgia - Your Options

Lately the financing world has been really screwy. Lenders change program requirements at the last minute – and for normal purchasers, that could delay your sale.

Keep in mind that anyone can write a cash offer, even if they’re borrowing money to purchase the property. So when you're selling a house through a real estate agent to an end buyer... be prepared that if the buyers financing falls through... you'll have to start the sale process all over again... adding more months to the process, more holding costs you have to pay for, and more.

To avoid having the buyer pull out at the last second because of financing... one option is to sell your house to a local investment firm like us.

Often, qualified investors have access to multiple lines of credit with public and private lenders that is secured by other assets.

That means we can close quickly and we don't have to wait for a bank loan to come through. You get your sale done and cash in hand quickly.

You’ll have to do some due diligence to make sure you’re dealing with a qualified local investor. Qualified investors will have no problem providing you access to bankers and references who can verify the investor’s ability to close on the loan.

If you’ve taken a cash offer with an earnest money deposit, you might be entitled to keep the deposit if the buyer can’t close on the purchase.

But how do you get cash offers fast?

You can get a fair cash offer from us actually today. We're buying properties in the Georgia area, which we're local to... and we buy Georgia houses ... then we either hold them as rentals for ourselves... or we'll repair / remodel the house if it needs it and sell it to someone who loves the house.

If your local Georgia property qualifies, we can buy your house fast.

Just fill out the form or pick up the phone and call us anytime at (678) 665-4177

The post Selling My House Fast in Georgia appeared first on Nyahwa Properties.