In today’s challenging housing market, with tough negotiations and even tighter financing options, I find that clients are navigating interesting waters and many needing creative solutions for their particular real estate needs.
For example, many international buyers who are buying property as an investment, not as a primary residence, often consider forming a corporate entity to purchase the property in order to limit personal liability. Although the upfront cost of incorporating is an additional fee, many consider the long-term protection to be worth it.
For residential buyers who find themselves in a market where multiple offers are becoming more common, they often seek ways in which to make their offer more appealing. One way to sweeten the offer usually comes down to the financing options. With today’s strict lending regulations, sellers may be more inclined to accept an offer from the buyer who can ensure that the transaction will successfully close. Some buyers actually get a mortgage preapproval from lenders to show good faith and solid financing. To this end, more and more lenders are participating in the preapproval process.
As the housing market shows signs of recovery in many areas, buyers – whether savvy investors or first-time home buyers – look for effective ways to protect their assets and get the deal done efficiently. For more information on personalized solutions to your unique real estate needs, please contact Felix Nihamin & Associates, P.C. at 212-502-4868 ext. 302.