Susan Hilton College Station Real Estate
Realtor & Vice President of Sales
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Staging for a Loan or Staging to Sell?
August 13th, 2008 Categories: Real Estate True Tales
Real estate agents often suggest sellers use “Stagers” to assist with making the home for sale look more appealing to buyers so it will sell quicker and for the highest price.
Staging is one of many things a real estate agent works with sellers on. This is a good, reasonable and honest thing to do to showcase a home in the best possible light. But, staging a home for an appraisal is a completely different thing!
When a lender (mortgage broker) calls a staging professional to stage a vacant home to make it look like someone is living there, red flags should come up. Remember, it is very common for an AGENT to call and ask for a home to be staged. It is very uncommon for a lender to do so. It is especially odd when the staging is only needed for a few days and just long enough for a few photos to be taken while the appraiser is there.
Questions should be asked – is this vacant home being staged to sell or is it being staged for a refinance? Would the second one be wrong? YES!
When a property is staged to sell, it is showcasing the home to show the “highest and best use” of the property. When a vacant property is staged for an appraisal, there is a good chance some type of refinance scam is taking place.
Don’t participate! The housing market does NOT need any more problems!
Susan Hilton – Realtor & Sales Trainer for Century 21 Beal
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Wow…Thats crafty… But illegal
When can we get back to the “quick and easy” 5% interest rate no money down loans?
Staging for a Loan or Staging to Sell? | College Station Real Estate Blog About Homes for Sale
Staging is one of many things a real estate agent works with sellers on. This is a good, reasonable and honest thing to do to showcase a home in the best possible light. But, staging a home for an appraisal is a completely different thing!