Listing Courtesy of JACK LINGO REHOBOTH
Relocating to Rehoboth Beach can be an invigorating fresh start: an opening to unexplored opportunities and a brand new community filled with tomorrow’s life-long friends. Then again, faced with a sudden onslaught of details and decisions, it can be an experience that falls just short of overwhelming. Every year, 43,000,000 Americans move to a new home, yet the Employee Relocation Council says that moving is the third most stressful event in a person’s life.
If you are relocating to Sussex County anytime soon, there is much that you can do to ensure the more positive outcome. Whether you will move for professional reasons or just to take advantage of the lifestyle the region offers, you will cut down on anxiety when you take positive steps to orient yourself ahead of time.
If at all possible, make a few excursions to Rehoboth Beach well in advance of your move. Make them mini-vacations: when you check into a local hotel or motel for a few days with no pressing agenda, you’ll be free to learn a lot about your new town, discover some of what will become your new favorite place, and just plain get familiar with what is where (and how to get there). Later, when you’re in the midst of relocating to Sussex County, there won’t be any free time for that kind of leisurely investigation.
Be sure to visit our Rehoboth Beach Chamber of Commerce early during your first stay. You’ll find loads of resources to help you familiarize yourself with the whole region. From welcome packets that include coupons and a list of things to do, to specific question-answering advice and help, the C of C is a great free resource for future residents.
Even further in advance, once relocating to Rehoboth Beach looks likely, whether you plan to buy or lease, get in touch with a Rehoboth Beach Realtor®. There is no better source for insider guidance on schools, which neighborhoods are the best for your needs, and invaluable help in finding and landing your new residence.
Advance planning will make relocating to Rehoboth Beach a positive and efficient experience— and it’s my business to help that happen for my clients. Contemplating relocating to Sussex County? Call/text 302-228-7871or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.
The recent Mortgage Credit Availability Index shows a slight relaxation in lending standards — but as most Delaware home buyers and sellers will agree, getting a mortgage is still difficult. With mortgage availability benchmarked at 100, although it’s currently at 111 ½, compared with the 800 it stood at in 2007, today’s is still a tough environment.
That’s why Delaware seller financing is being considered by more homeowners. When a home is owned outright, seller financing can draw a higher selling price (with future interest payments as a bonus). But before making such an offer, Delaware homeowners need to consider all of the ramifications: there is more involved than just the assumption of added risk.
Of course, ordering and examining a buyer’s credit report is the starting point. If the story it tells needs too many explanations, it’s time to walk away. Foreclosing on a seller-financed home can be more difficult than through a traditional foreclosure —particularly if the financing documents are substandard.
At first blush, seller financing might seem to simplify the whole transaction, but in fact some details usually handled by a bank must be hammered out:
Those issues point out why a “handshake deal” can’t be recommended for a Delaware seller financing arrangement. Just consider the last two points: if the deed hasn’t been transferred and taxes are in arrears, whose credit is harmed?
A good attorney will draft an agreement that nails down responsibilities and penalties for a buyer default as well as a detailed payment structure. A well-drafted seller financing agreement protects both parties by preventing misunderstandings and providing an unambiguous inducement for good behavior.
Given the right buyer, clear communicating and a framework cemented by the proper paperwork, Delaware seller financing can provide the missing element that makes a sale possible. If you will be listing your own Delaware home, give me a call /text 302-228-7871 or email me, Russell Stucki, REALTOR® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.