A lot of desperate \”Buy My Home\” schemes have been popping up lately. As a real estate investor I\’m always on the lookout for good deals, but some people are taking things to an escalated level.

Recently, I saw a man wearing a \”Buy My Home\” sandwich board. He was parading up and down the street handing out flyers. His walking billboard was covered in photos of his house. I\’ll give the man credit. His marketing strategy was unique, but I\’m not so certain it was very effective.

Last month, a real estate investor friend told me about an investment group that offered chartered bus tours to Las Vegas. Tour participants weren\’t heading to Sin City to gamble. Instead, they were touring neighborhoods with high rates of foreclosure in search of cheap homes for sale.

According to my investor friend, about 20 investors boarded the bus and visited six residential communities. He stated that homeowners marched in front of their houses carrying \”Buy My Home\” picket signs. Some went so far as to bribe investors with freshly squeezed lemonade and homemade chocolate chip cookies.

I don\’t know about you, but I find that somewhat disturbing. Has the market gotten so bad that people have to stand in front of their home vying for investors\’ attention? Unfortunately, the answer is yes. Homeowners who need to sell their house must find creative ways to attract buyers.

There is no doubt the real estate market is in total chaos. Banks are being investigated for improper foreclosure. The Fed recently announced they have ordered 17 major mortgage lenders to make monetary restitution to foreclosed homeowners who were illegally forced out of their house.

Many lenders are holding repossessed houses instead of releasing them for sale. California is witnessing a housing inventory shortage although the Golden State ranks at the top of states with highest rate of foreclosure.

Many people who want to buy a house are unable to obtain bank financing. New construction is nearly at a standstill across the nation. With all the excess inventory of real estate and all the people who want to buy a house, sales are at an all-time low.

While some homeowners are turning to radical schemes to attract attention, there are easier methods. Those who cannot wait until the market rebounds might want to consider entering into some form of creative financing. This might include offering seller carryback mortgages, lease purchase option agreements, Subject to, or take over payments.

Seller carry back mortgages require homeowners to act as the mortgage financier for all or part of the purchase amount. Lease purchase options allow buyers to reside in the home as tenants while having a portion of rent money contributed toward the purchase.

Subject to and take over payments allow buyers to assume homeowners\’ mortgage payments until they can qualify for bank financing. These types of real estate contracts should always be executed by a lawyer to ensure compliance with state and federal laws.

Homeowners who want out of their mortgage and have no desire to engage in long-term contracts may find it beneficial to seek out real estate investors. While investors rarely buy houses at current market value, many do buy houses with cash. Cash sales are beneficial for all parties involved. There is no need to pay realtor commissions or finance costs.

Sellers can avoid engaging in radical \”Buy My Home\” marketing strategies by taking time to learn about creative financing strategies or selling to real estate investors.

Author Bio: Simon Volkov is a California real estate investor residing in Orange County. He offers a comprehensive \’Buy My Home\’ article library covering topics of owner will carry financing, lease options, seller carry back mortgages, subject to, and take over payments at www.SimonVolkov.com.

Category: Real Estate
Keywords: buy my home, real estate investors, seller carry back mortgages, lease purchase option agreements