Tips on Sale Your House Yourself

1. Tips on Sale Your House Yourself www.uniquemallorca.com

2. A Rent to Own option on a property you can no longer afford is a fast and easy win/ win situation for you and for the person who "buys" your home. If you need to get rid of your home immediately without the long wait of finding an approved buyer and a formal sale and cannot afford the upkeep on your home by turning it into a rental property, selling your home as a "Rent to Own" can be done without the expense of a lawyer and the responsibility of financially maintaining the home will go to the "buyer." This option is an excellent opportunity to avoid foreclosure www.uniquemallorca.com

3. The Potential Buyer Many displaced families with damaged credit and moderate income in today's uncertain economy would prefer to buy a home rather than rent. Most do not have the option of obtaining a traditional mortgage and are denied financing. To ascertain the buyer's credentials, income, and credit history, it is important that any person interested in your home complete a buyer's application. After you determine the value or pay off on your home and the monthly rental payment you wish to collect, you are ready to advertise your home and put the process in action. www.uniquemallorca.com

4. Advertising Your Home When listing your home as a rent to buy property, expect to be inundated with calls from interested buyers. If you do not want drop in visitors who wish to inspect the property on the spot, it is highly recommended that you do not put a sign in your front yard. www.uniquemallorca.com

5. The Most Important Step: The Rental Application The most important step in selling your home as a Rent to Buy property is utilizing the Rental Application. This crucial tool will assist you in carefully screening prospective applicants who are interested in Renting to Own your home. It is vital that you collect information on all members of the family over the age over 18 if you plan to run credit and background checks on those coming into your home. Make sure to acquire social security numbers and driver's license and tag numbers of each adult living in the home in the event that the renter/ buyer abandons the property and the contract. www.uniquemallorca.com

6. The Rent to Own Contract Rent to Own Contracts can be customized for your state and purchased online for a minimal fee. It is important to read and understand any form you may purchase. A rent to own contract can include any terms you wish to include as the seller. Before choosing and finalizing a rent to own contract, check with your insurance agent to see if you have to upgrade your insurance policy for additional coverage on your “renters.” Make sure to include the stipulations of your insurance company on your rental contract. For example, if your home insurance policy forbids trampolines or pools on the property, you will want to include that in your lease as a stipulation. www.uniquemallorca.com

7. Closing on a Rent to Own Contract When the contract is fulfilled, it is time to initiate the closing process. The seller must have a clear title to the property and the mortgage must be made in full. Both parties can go before a Title Management company to transfer the title. At this point, an inspection must be done. Careful planning in the early steps will ensure this process goes smoothly for the seller. Damages done by the renter/ buyer while living in the home will be covered in the lease and if so deemed in the lease, it will be his or her responsibility to repair. Fees can be split or negotiated. www.uniquemallorca.com

8. Contact A Unique Mallorca Real Estate SL 43 Gran Via, El Toro, Puerto Adriano, Calvià, Mallorca, Spain Phone: +34 615231617 Website: http://www.uniquemallorca.com www.uniquemallorca.com