With traditional property sales methods, the only way to prevent the property from sitting on the market indefinitely is to keep dropping the price. Unfortunately, this technique doesn’t always work – especially if the seller is unwilling to discount their house by much. In areas flooded with homes for sale, reducing the asking price slightly will not bring the desired result. In fact, it’s common that the property will continue to sit on the market without offers, alongside the multitude of other unsold properties with similarly reduced prices.

Anyone experienced in sales understands that making your product stand out from the crowd is a critical technique for success. But if there’s too much competition offering the same, the only logical way to attract the attention of serious buyers is to drop the price so that your property is a much better value than the competition. In cases where the seller is too inflexible with their asking price, this is not a practical solution. Without an alternative strategy, the seller is forced to keep the house on the market for an extended period of time with an unrealistic asking price, hoping for the right buyer to come along. And as you know, that person might NEVER materialize!

The solution to the problem is when sellers who want to both obtain their desired price and close on the deal quickly should consider seller financing. Seller financing is a powerful tool to remedy real estate situations that otherwise look grim. Many home sellers and their real estate agents do not see seller financing as a viable option. In actuality, seller financing can bring new attention to the listing and invite a different group of potential buyers – thereby opening up a unique, untapped market.

A large percentage of people throughout the country cannot get approved for bank funding to buy real estate because of their credit situation. Many of these people are still in the market to buy a house. The credit-challenged are often frustrated with the limitations of apartment living or being renters; as a result, many are willing to pay a higher price just for a chance to get seller financing and improve their quality of life.

An experience property seller who recognizes this opportunity can salvage an unfavorable situation and turn it into a bonafide seller’s market. By using this type of creative financing, the seller could actually end up getting more than the original asking price – without resorting to the questionable strategy of patiently waiting for the “right buyer”. Seller finance can enable homeowners to receive a favorable selling price despite bad market conditions. In addition, the real estate agent (if any) gets to close a deal and move on to other sales, while a home buyer with poor credit is able to become a home owner. It’s one of those rare situations where everyone at the negotiating table gets what they want.

Many home sellers never consider seller financing because they don’t understand the advantages. There are also common misconceptions that it’s much too complicated to attempt to orchestrate a seller financed deal, or that there are no buyers willing to sign a private note. Once a property seller takes the time to learn about the basic process, the advantages of offering financing instead of a lower price to sell their property become very clear. Plus, a little education about seller finance will make it apparent that drafting a secured private note is actually a very straightforward process.

The bottom line is seller financing can enable a home owner to have their cake and eat it too, sell at the desired price, close the deal quickly, and even receive additional income from interest payments to top that off.

So what makes a wholesale real estate investor different from the typical property investor? Basically, those who are into wholesaling properties are willing to take smaller profits through selling within a short amount of time. They find good deals on real estate and then market them to the typical property investors. It’s not uncommon for wholesalers to make a few thousand dollars in just three or four days of finding a good deal on a real estate property. Their buyers are those who are in the business of rehabbing properties and then selling them for higher profits. Wholesalers don’t have the kind of money and time that typical real property investors have to invest in repairing and selling real estate properties, so they are quite happy to make smaller, but faster, profits.

Many wholesalers are able to make a good monthly income by purchasing properties and then reselling them right away. Such wholesale property deals don’t require any money and credit. In the real estate business, if you find a good deal on a property, there is someone who is going to want to buy that property from you. It’s not uncommon for wholesalers to make at least $5,000 reselling property to another investor. And it doesn’t take long either. The entire process of finding a good deal to selling and closing usually takes 20 days or less.

Interested in getting into the wholesaling real estate business? Keep in mind the following tips:

* Avoid paying too much on a property. Remember that you will be reselling to bargain hunters, so you want to be able to sell them property wherein they would net a minimum of 20% on the sale price after they’ve deducted all expenses to fixing the property up. Of course, you want to make a nice little profit for yourself in the process.

* Sell properties on an all-cash basis, and quickly. Your wholesale buyers should be able to pay you in cash and not rely on bank financing. If a buyer can’t close on the property in 15 days, move on to another buyer who can.

South Carolina

It would be an understatement to say South Carolina played a major role in the Civil War. Battles raged across the land and the state has done much to preserve the history. While maintaining this history, South Carolina has also looked to the future. The state is the home of top notch resorts, golf courses by the billions and pristine beaches.

Charleston

Located on the Atlantic Ocean, Charleston is a city with a ton of history. Arguably, the Civil War started in Charleston via Fort Sumter, which is located in the harbor. A major shipping port during those times, the city is now one of the most attractive in the United States. The architectural style is definitely old south, but with a mix of influences. Certain areas of the town feel like New Orleans with garden areas and hanging patios. Other areas have a distinct Caribbean feel and yet others are stereotypical old south manner homes. Charleston is definitely a hot spot if you are considering living the South.

Myrtle Beach

Myrtle Beach is a take it or leave it place. The beaches are beautiful, but the area is severely over-commercialized. The area is family friendly most of the year, but the beach has become a hot spot for college students during spring break. If you don’t mind the ruckus, Myrtle Beach should be considered as a relocation spot because you will not find cheaper beach real estate prices anywhere.

South Carolina Real Estate

Considering the great location, South Carolina real estate is cheap, cheap, and cheap. Single-family homes average under $200,000 throughout the state with the exception of Charleston and the luxury resorts. A home in Charleston will average $300,000 while property in the resort areas varies wildly.

Appreciation rates for South Carolina are neither great nor terrible. For 2005, property has appreciated at an average of eight percent, but varies by location.

Columbia is South Carolina’s capital, and a lot of people choose to live here. It’s centrally located to the beach and the mountains. It’s one of the biggest cities in the state, and the population has grown to just over 120,000. Some of the biggest employers in the area are the University of South Carolina, the state government, and the hospital systems. Columbia (and Greenville) are the most affordable places to live in South Carolina that are also relatively good sized cities.

Greenville is located at the foot of the Blue Ridge Mountains and has cooler weather than the coastal areas of South Carolina. It snows usually about once or twice a year in the uppermost part of the state, and Greenville is the largest city in the upstate. It has an estimate of about 60,000 residents. This area has seen some of the largest growth for non-coastal areas in South Carolina, and it’s expected to grow even more in coming years. The city has plenty to do and lots of nice areas, but it’s also considered an up and coming area simply because of its past and projected growth.

Myrtle Beach is one of the most popular tourist areas in South Carolina. Every year, more than 15 million people visit South Carolina’s coast, and Myrtle Beach is at the top of the list of beaches, statistically speaking. Although a lot of people in Myrtle Beach live there year round, it’s considered more of a vacation spot. You’ll find putt-putt courses and beach shops sprinkled throughout the area. It also has a lot of large hotels and condo complexes right on the beach. Myrtle Beach is the most coastal city on this list. The residential population is estimated around 23,000.

Charleston is known for its history and culture. Its economy is also based largely on tourism, and it has started to make its way into the international tourism and real estate markets as it’s become the cultural hub of the state. You’ll find historic sites, museums, and art galleries throughout the main peninsula and surrounding areas. Charleston is considered more of an upscale port city and has 6 beaches along its coast (plus several islands and towns further inland). Charleston is comparable to Columbia in size, at just under 118,000.

Hilton Head does not attract as many tourists, and it’s known as a smaller and quieter coastal area. The AARP often lists Hilton Head in its top places to retire, but you’ll find a mix of people there. Its population is estimated at about 33,000. Real estate prices are relatively high, as the town has strict development and commercial guidelines. The town incorporated these rules in an effort to preserve the natural setting that people associate with Hilton Head.

South Carolina

It would be an understatement to say South Carolina played a major role in the Civil War. Battles raged across the land and the state has done much to preserve the history. While maintaining this history, South Carolina has also looked to the future. The state is the home of top notch resorts, golf courses by the billions and pristine beaches.

Charleston

Located on the Atlantic Ocean, Charleston is a city with a ton of history. Arguably, the Civil War started in Charleston via Fort Sumter, which is located in the harbor. A major shipping port during those times, the city is now one of the most attractive in the United States. The architectural style is definitely old south, but with a mix of influences. Certain areas of the town feel like New Orleans with garden areas and hanging patios. Other areas have a distinct Caribbean feel and yet others are stereotypical old south manner homes. Charleston is definitely a hot spot if you are considering living the South.

Myrtle Beach

Myrtle Beach is a take it or leave it place. The beaches are beautiful, but the area is severely over-commercialized. The area is family friendly most of the year, but the beach has become a hot spot for college students during spring break. If you don’t mind the ruckus, Myrtle Beach should be considered as a relocation spot because you will not find cheaper beach real estate prices anywhere.

South Carolina Real Estate

Considering the great location, South Carolina real estate is cheap, cheap, and cheap. Single-family homes average under $200,000 throughout the state with the exception of Charleston and the luxury resorts. A home in Charleston will average $300,000 while property in the resort areas varies wildly.

Appreciation rates for South Carolina are neither great nor terrible. For 2005, property has appreciated at an average of eight percent, but varies by location.

Median price for Columbia foreclosure homes remain at $130,000. In comparison, median for the rest of the state is $160,000. Hold on to you seat because price median for South Carolina foreclosure homes for sale in Myrtle Beach, a remote town, is at $307,000. Analysts and market observers assert that price discrepancies could be because there is a glut of Columbia foreclosure homes for auction. Basically, home buyers and investors are focused at the seaside, outside the city, where the view is scenic, quaint and historic. Most South Carolina foreclosed homes outside Columbia are turned into vacation and retirement homes.

Auctions for foreclosed homes across the state are offering about 20% to 25% discounts to price tags. However, if sellers or auctioneers of the foreclosed homes are experiencing financial pressure, homebuyers and investors could secure up to 50% price off on foreclosed home values. That could translate to really hefty savings. In South Carolina, many home buyers are also opting to snap up homes that are in the initial pre-foreclosure stages. This way, buyers get security and certainty that their target foreclosed homes will all be theirs.

The balmy air in South Carolina simply oozes with charm. The capital and largest city of South Carolina, Columbia, has one of the most appealing urban areas in the whole continent and is often cited as one of the “Most livable communities” in the whole of the United States. All parts of the state are friendly and many cities are generally laid-back complete with an old-South feel.

Located close to the Atlantic, South Carolina has a humid subtropical climate. In the summer the state is hot and humid, averaging around 90F during the daytime. With very mild winter temperatures, many residents of other colder states flock towards South Carolina for vacations.