New listing on Oresy.com - Italy - Fuscaldo Marina - Villa for sale

Sea side town Fuscaldo Marina, Comune of Fuscaldo, Province Cosenza

For sale a beautiful villa on three levels in a prestigious residence “Vaselle”.

The price € 500,000

For more information and to contact the seller, visit: Oresy.com

Tip of the day

Spread the message over and over again

Experts say potential customers need to hear about your business up to 12 times before they are ready to do business with you. So keep marketing and use as many venues as possible (especially the free ones) to get your message in front of the right people as often as possible.

18 Questions For Every Home Seller (Part 18) e-book

18.       What if winning bidder won’t buy?

Online bidders who have validated their identity and provided credit card information take auctions seriously and rarely try to renege on their winning bids. If they should do so, a $300 or $500 penalty will be assessed; the second-highest bidder is then contacted and allowed to purchase the property.

If the winning bidder backs out after they send the cashier’s check for the earnest money deposit, the sale cannot be cancelled without the forfeit of the deposit funds (which usually is substantial more than the credit card penalty.) The non-refundable nature of the deposit funds was made clear in the terms and conditions agreed to by the winning bidder.

Additional services

Sellers unsure about meeting all mandatory disclosures required by the state, looking for help with marketing that will maximize your pool of serious buyers or bidders, or hoping for help with contracts? Oresy.com offers these services at a fraction of what standard real estate brokerages charge. These optional services will be handled by a real estate professional in your area:

●     Promote and conduct two open houses

●     Post the property on Oresy.com

●     Create a YouTube video “walkthrough”

●     Market the property worldwide (making sure your property will be found by major search engines and be “search engine optimized” for maximum visibility)

●     Oversee the online auction or negotiate a traditional real estate sale online

●     Gather all disclosures mandatory in your state

●     Order ‘Natural Hazard Disclosures’

●     Post the property on MLS as any broker would

●     Revise contracts after you receive offers/bids

●     Guide your sale through the escrow process

Value

When it comes to the bottom line, what does Oresy.com deliver? Here’s a representative example of how much our selling methods will save you?

Example property sale price: $300,000

	Commission paid (traditional broker)	Total	Savings
Traditional broker	6% commission	$18,000
Scenario 1: Sell on Oresy.com with a buyer’s agent	2.5% to buyer’s agent ($7,500) plus Oresy.com fee ($1,500)	$9,000	$9,000
Scenario 2: Sell on Oresy.com without a buyer’s agent	Oresy.com fee ($1,500)	$1,500	$16,500

Conclusion

Enormous changes are taking place today in the real estate industry. The ‘network effect’ of the Internet promises easier sales and better prices for sellers that leverage the most appropriate of the selling methods now available. Partner with professionals as appropriate for your property, the market you’re selling in, and your level of confidence in doing some or all of the work once done primarily by brokers and agents by yourself.

Most surprisingly for many sellers, online auctions have become a great path for many; the cost of selling is reduced by thousands of dollars and sellers are able to select among several methods of auction.

Whatever options you exercise in the end, we at Oresy.com hope this guide has opened your eyes to new options, clarified issues of greatest concern to would-be sellers, and helped you begin to formulate your path to the handshake that sells your property.

George Avram

Broker/Owner/Real Estate Auctioneer

Continental Realty Inc.

16 Crow Canyon Court Suite 100

San Ramon CA 94583

DRE# 01422589

925-548-5461

www.24by7bid.com

18 Questions For Every Home Seller (Part 17) e-book

17.               How does the auction work?

Potential bidders are required to verify their identity and provide credit card information to guarantee a basic deposit; this discourages frivolous bids. Bidders are next briefed on what they are expected to do: thoroughly research the property and visit it if possible to verify its description and consider its value. They should review the preliminary title report to verify any that the title is clear of issues or at least as reported, and also to check zoning regulations and environmental credentials. The termite report and any disclosures mandatory in your state should also be reviewed.

An Oresy.com auction allows bid from the moment a property is listed until the closing second of the auction. When a bid is made, Oresy.com automatically confirms it with an email to the bidder and to you, the seller. Other potential buyers who have already bid will be notified that a higher bid as now been placed, prompting them for a response. In a typical online auction, bids are slow and low in the opening hours and even days, but bidding will intensify in the last day, hour, and quite likely even the last moments.

Important note: if a bid is placed at the last moment, the auction will be automatically extended by a few minutes to allow other bidders the opportunity to respond to the bid.

At the end of the auction, the system congratulates the winning bidder by email, and informs you, the seller, of the winning bid. Other bidders are notified that another bidder has won the auction.

Contact the winning bidder immediately to congratulate them and to arrange a meeting to sign the Purchase Agreement and to collect the earnest money deposit. The earnest money deposit should be in the form of a cashier’s check. If the high bidder is out of the area, and it is not possible to meet that day, you should email or fax the purchase agreement to the buyer and have the buyer return a signed paper copy, along with a cashier’s check for the earnest money deposit, within 72 hours.

The deposit should be made out to the escrow company; once the purchase agreement has been signed, the escrow process begins.

George Avram

Broker/Owner

Continental Realty, Inc.

16 Crow Canyon Court Suite 100

San Ramon CA 94583

925-548-5461

www.24by7bid.com

DRE# 01422589

18 Questions For Every Home Seller (Part 16) e-book

16.            What should I do after the sale?

Taxes

Since 1997, individual home sellers in the United States can hold on to $250,000 in profit free of Federal tax. Couples can hold on to $500,000. The requirements are simple: the seller or sellers must have resided in the home for the last two years and the sellers cannot have employed the same exemption in the last two years.

File the form 1099-S to detail the transaction, then calculate capital gains and losses based on the “cost basis” of your sale. This means tallying expenses associated with the transaction. Did you run an ad in the paper offering your home for sale? Did you pay excrow or title fees as the seller? Consult a local tax accountant to understand which other expenses are currently allowed in your cost basis calculation; you will also want to ask about applicable local and state tax codes for such profits.

Closing papers

As we’ve mentioned, you are advised to work with a local closing agent to complete your transaction. No general book can detail a complete checklist of to-do items, which vary substantially by state.  

Oresy.com

Traditional sales online have the advantage of using web marketing techniques to augment the familiar sales process of price - advertise - show - wait for offers. The downsides, as we know, are significant costs (including compensation for brokers and agents that is rarely proportional to their contributions) and an open-ended sales period. Auction-based sales are unfamiliar to many sellers, and can also be very costly given the steep up to 10% fee charged by most auction services. The upside of auction-based sales: accelerated transactions rather than open-ended waiting for offers, the sense of urgency inherent in the process that drives buyers to make competitive bids, and a variety of auction types.

Oresy.com allows you to leverage both traditional and auction-based options while minimizing your cost of doing business. The site’s traditional listings are free and auction services are far cheaper than other major auction options.

So are you ready to save thousands in fees while nabbing an optimal price for your property and selling it faster? That’s our whole sales pitch, because as long-time professionals in online systems and real estate, it has been clear for some time that homeowners could us an open portal to avoid middlemen and connect with serious buyers just as many do when selling a car themselves.

But real estate is a bit more complicated than Buicks: inspections, tax issues, and complex financing are just a few of the barriers to going it alone when selling a property. So we created the “Online Real Estate SYstem, or Oresy.com, to streamline the process of traditional and auction-based transactions. We offer discounted professional services if and when you need them.

In the pages that follow, we’ll outline the selling options and the steps you’ll need to take online. Our service supports both strictly FSBO (“For Sale By Owner”) folks who take over most of the duties of a listing and selling broker, as well as those who don’t want to hire a pricey broker but need help with some aspects of the sale.

Traditional listings on Oresy.com

Registered users can post property listings for free on the site. You will enter the address, specify square footage, number of bedrooms and baths, and age of the property. Also enter a description complete with highlights and upload photos.

Specify dates for upcoming open house events and specify an asking price; keep in mind that because this is a traditional sale listing, prospective buyers will make offers at, above, or below this price.

You’re done when you click “Save & Checkout” but you can update the listing with new information at any time. Of course this is really just the beginning; once the listing “goes live” you are strongly advised to market the property elsewhere both online and off. And you can go back and enhance the Oresy.com listing at any time -- unlike many services it is yours to modify at any time.

Still wondering if you have pulled out all the stops to market your property? Oresy.com charges a nominal fee to assist with your online marketing efforts: we can create and post YouTube videos, optimize search results for your listing, and expose your property to potential buyers worldwide.

What to look for in an online auction provider

Of course every online auctioneer notifies you when you’ve placed a bid, been outbid by another buyer, or won an auction. It should also notify you if you didn’t win an auction, and provide the complete bidding history for review. But Oresy.com believes real estate auctions online have several special requirements:

●     The extension of the auction by a few minutes if a bidder drops a last-second high bid so that all bidders can place their final bids. In other words, nobody can “steal” a house by topping the current bid by a dollar. For the seller, this means you will realize a higher price; for buyers, this discourages “gaming the system”.

●     Once a bidder has placed a bid in an auction, the system must notify them as higher bids are placed and provide an opportunity to outbid the current highest bid. Since most buyers are away from their browser for much of the auction, this helps keep bids flowing so that the maximal value of the property can be reached by the bidders.

●     Automated bidding. In other words, you can bid $200,000 to place the highest bid, but you can also specify a maximum bid that’s even higher. If you enter $250,000 as your maximum and nobody outbids your offer of $200,000, you win at that amount. If another bidder offers $210,000, a slightly higher bid will be placed on your behalf. This continues until another bidder offers more than your maximum or you have won the auction.

●     The process of creating a property listing must be self-explanatory, including the posting of an unlimited number documents and multimedia files, such as photographs, reports, and disclosures. The multimedia is crucial marketing: it’s based on these that prospective buyers will decide to visit the property in person before the auction.

Despite these differences, listing process for auction-based sales is similar to traditional listings. in many way. You prepare the property for auction, document it with photos, and describe it in your listing just as if you were preparing for a traditional sale. Next, select one of the three “auction types” which include absolute, minimum bid, and reserve. Each has its advantages:

Absolute Auction

Two huge benefits from this auction type: it will generate the strongest response from the marketplace, and the property will definitely be sold. Anyone who has used ebay.com is familiar with the absolute model: bidders from all over have the opportunity to place bids on the property within a set frame of time. At the end of that time, the house will be sold at the winning price. Bidding starts at zero and, theoretically, the property could sell for $1 since the winning buyer is contractually obligated to buy the property for the final price and the seller is obligated to sell at the winning price. In practice, as seller you would be unlikely employ this method unless you were certain that multiple buyers were ready to make reasonable bids.

Minimum bid

This type of auction is very popular for real estate auctions since it provides a baseline minimum that bidders must match or beat before their bid can be accepted. Of course this means response may be less enthusiastic than for an “absolute” auction, and there is no guarantee that the minimum bid will be met and that, therefore, the property will sell. So if you are serious about selling, set a low minimum bid; advertise this low-ball prices wherever you list your Open House and you are sure to attract many to view the potential bargain.

Reserve

Want to keep your options open and rethink whether you wish to close the deal once the auction is over? Consider this auction type. It is more difficult to entice bidders since they know that winning the auction at a bargain price will probably result in the seller refusing to sell. You might steer more interest towards your reserve auction with a low starting bid -- bidders may access public records on the property you’re selling and see how much is owed on this property; start bidding at or just above that amount and potential buyers will realize you actually may sell at this price. (Of course, the property should qualify for an auction sale, which means that the property should have equity 25-30%, allowing the starting bid to be 25-30% below the market value.)

Setting auction dates

When setting the auction dates, keep in mind the following for residential single-family homes and condos:

●     Give yourself sufficient time to prepare for and advertise the first preview (open house), typically 7-10 days. If you start advertising the property only two or three days before, you are unlikely to attract a sizable pool of potential buyers and, therefore, a less competitive number of bidders.

●     Some properties require just one or two open houses to generate a sufficient pool of bidders, while others may require three or more. The relative desirability of the property and local level of demand are the determining factors. Rural properties, for example, may require several preview events, while suburban properties rarely require more than two. More showings is not always better; dragging out the open house marketing process may cause potential bidders to lose interest.

●     Experience shows that the best time to end an auction is a day or two after the last open house. I you have only one preview event, market the property for seven to 12 days and finish the auction on the 14th day. This is the minimum recommended marketing time for an auction.

●     If you have two preview events, allow seven to 10 days before the first preview to market the property and then another seven days to market for the second event. Again, end the auction a day or two after the last event.

●     Land, agricultural, commercial, and industrial properties usually take longer to market. Allow at least 30 days; many such properties will require 60 days or more.

●     Of course every property and every market is unique. The above guidelines have worked well for many sellers, but of course it’s up to you to judge your circumstances.

●     The best days for an auction preview are when most potential buyers have time to attend: weekends from 9 AM to 1 PM or from 1 PM to 5 PM. During these hours, you’ll draw “street traffic”who see your signage while driving by in addition to those who’ve read about your open house in advance.

●     If you sell land rather than a built property, you won’t need formal open houses by work with interested parties to show the property on request.

George Avram

Broker/Owner

Continental Realty, Inc.

16 Crow Canyon Court Suite 100

San Ramon CA 94583

925-548-5461

www.24by7bid.com

DRE# 01422589

18 Questions For Every Home Seller (Part-15) e-book

15.            How do I close the transaction?

Hire a closing agent

Non-professionals will generally need help with the final stage of the real estate deal. Laws vary greatly in different places about what is required to complete such deals. Find a lending institution, lawyer, or escrow or title insurance company before a single buyer bids on your property. Your closing agent will gather necessary information, including buyer qualification, to certify the validity of your transaction and, working with the buyer’s agent, will wrap up the contracts, title searches and insurance, and other details that will finally allow them to determine the net due to you, the buyer, at the end of the transaction.