'Our intention is that anyone who sells us a house fast will do it correctly and not be subject to penalties,' He said. 'In addition, we will strongly suggest anyone selling us a house close with a board certified real estate attorney.'
Dunedin, FL (PRWEB) December 16, 2013
Advanced Realty Team, Inc., yesterday announced that it will continue to offer a service to people who want to sell houses fast even after Jan. 10, 2014 when the seller finance provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act become effective.
“With an estimated 81 per cent of the U. S. population unable to acquire financing from a bank, seller financing is more important than it has been since the hyper interest rates from the Carter administration,” said George Beardsley, President-Broker of Advanced Realty Team.
Beardsley has just returned from a three-day seminar on emergency seller financing in Jacksonville, FL sponsored by Global Publishing, a leader in creative real estate education.
“In my opinion the typical person who wants to sell their home fast will be ‘exempt’ from the Act, however everyone who sells with owner finance even those who are ‘exempt’ must comply with certain provisions of the new law,” Beardsley said.
“I know that sounds complicated, but this is federal legislation, so what do you expect?” he said.
Beardsley said the bottom line is home owners who want to sell fast and for top dollar will still be able to do so.
“Of course there will be numerous people selling with owner finance who have no idea that there is now a law affecting this method of selling,” he said.
“And, like driving 95 miles an hour on the Interstate, many of the people will not be observed and not subject to fines, penalties and fees,” he said.
“Our intention is that anyone who sells us a house fast will do it correctly and not be subject to penalties.” He said. “In addition, we will strongly suggest anyone selling us a house close with a board certified real estate attorney.”
When Advanced is buying with owner finance, it will provide for the seller and the seller’s title agent the provisions that must be in the note as well as other actions required by the newly effective legislation.
Advanced Realty said it will begin to post provisions of the act to its web sites hopefully by the end of the week and will also prepare a brief report available in about a week.
ABOUT ADVANCED REALTY TEAM
George and Maryan Beardsley, two former stock brokers, founded Advanced in 1996 after spending several years working for a national franchise real estate firm and gradually doing a larger portion of their business buying and selling homes for themselves and financing sales for other Realtors. They entered the real estate business the hard way, owing a home in Boca Raton Florida within a mile of the site for a planned garbage burning incinerator.
The Realtor they hired suggested owner financing which Maryan and George said sounded “stupid and scary.” But having little choice they sold and held the mortgage and the more they learned about creative financing, the more it seemed to be an important tool, especially when it is difficult to sell houses.
Eventually the buyer of their home refinanced and the Beardsleys received the full amount of cash for the sale, at top price and during a period when no one had been able to sell. “That really got our attention and we left stocks, commodities and bonds for real estate,” George said. The firm offers a number of ways of buying houses fast and lately has been offering affordable homes programs, using homes bought as rentals and rent to own homes.
George Beardsley holds the U.S.Patent Office Trade Mark for the Famous Rent to Own on Steroids Program™ where all rent paid in the entire first year becomes down payment and the tenant-buyer can earn a mortgage by making 12 consecutive monthly payments on time and maintaining the home as though they already owned it.
In the last year, the firm has added a Internet marketing division to use some of the experience the firm has developed in marketing both the purchase of houses fast and the various rental programs offered, including the Famous Rent to Own on Steroids™ and the Famous Foreclosure Rentals program.
Advanced is currently promoting Dr. Robert Anthony’s course, “Secret of Deliberate Creation,” and offering it with a 60 per cent discount. Advanced also offers a service for local merchants where they guarantee the local firms’ website will be on the first page of Google.