Sep
03
2022

Owner Financing Assistance – What Is It and How Does It Work?

The local real estate market may not look bad compared to many harder-hit locations in nation, but if you find yourself waiting a lot longer to find a buyer for your home, then it may be time to offer owner financing assistance. Owner financing can be offered to a potential buyer and help you move your property much faster in a sluggish market. It sounds pretty simple, but in reality it requires a thorough understanding of the risks.

Before you can put the offer on the table for owner financing assistance, it is important to protect yourself both legally and financially. This starts by doing a thorough review of the buyer’s personal background, including their financial assets and employment records, references, credit scores, and other relevant information. There is no reason why you shouldn’t perform as rigorous a review of the potential buyer’s qualifications as any other financial institution would.

Secondly, when offering owner financing assistance, the purchase contract must be very carefully prepared, including the details of the owner-financing loan. Be sure to include a “deed-in-lieu-of-foreclosure” clause in the contract, as well as the amount, interest rate and specific terms of the loan. This way, if the new owner were to default on his or her loan, you would be able to take the property back from the buyer. An agreement should also state that the sale is “contingent upon the approval of the buyer’s financial information”.

As tempting as it may be, do not enter into a situation where the buyer avoids a down payment. By investing a lump sum amount in the property, the buyer is more likely to feel ‘invested” in the property and this lessens the risk of default.

Also, remember you can ask for professional help in executing the contract and closing the sale. You may require the assistance of a title company and a loan servicing company, as well as a real estate attorney to help you with the closing paperwork and financial aspects of the sale.

A Realtor may be your best source of advice and support when you offer owner financing assistance.

Summary

Offering an owner financing assistance to a prospective buyer could be the fastest way to sell your home so that you do not have to wait too long. However, there are risks associated with this transaction, so you are expected to make the necessary review of the buyer’s personal background which includes financial background, credit score and others. You should also ensure that the purchase contract is very carefully prepared, including the details of the owner-financing loan. Lastly, the services of a real estate attorney will be very helpful in this case. It is worth the time, money and effort you will spend.

Aug
03
2022

New Small Business Loans Starter Guide: What Are Your Options for Financing As a New Business Owner?

It’s not easy at all for new businesses to get all of the funding they need. Even if you have excellent personal credit, you still might have trouble obtaining all of the business money you need. The good news is that there are a variety of options available these days, including online banks and crowdfunding. Just take the time to research all of the new small business loans and determine which ones you should try going for.

Microloans might be worth looking into as well. There are SBA microloans, which are typically available up to $50,000, as well as non-profit organizations that offer micro-lending options for up to $35,000.

Before applying to any kind of loan, there are a few factors you must consider about your own finances. In addition to your own credit report, you need proof that you will be able to repay the loan. Make sure you communicate any experience and expertise you have that will be directly applied to the business you are trying to establish.

You’ve probably come to the realization that new small business loans don’t come with the lowest interest rates. If you’ve been in business for less than two years, you will have a more difficult time qualifying for a big loan with a low interest rate. If your credit isn’t the best, you might have to put up some collateral and get a secured loan.

New Small Business Loans for Equipment

If it’s primarily equipment you need, then go for an equipment financial loan. This type of loan is specifically designed to help organizations pay for the equipment and machinery they need for getting started. They are similar in structure to a traditional loan, although the repayment terms can be for a longer period of time. Keep in mind that the proceeds can ONLY be used to purchase the machinery / equipment you need. The downside to an equipment loan, obviously, is that if you default, the lender has the right seize that equipment.

While some entrepreneurs actually take out a personal loan to fund their startup, this might not be the best idea considering that if the business should fail, you and you alone will be responsible for it. Not only will the business fail, but your own personal credit will be destroyed.

Your best bet is to look for new small business loans with online lenders, such as US Business Funding. There are many options available, such as vendor programs, equipment leasing and financing, working capital, and so forth. The approval rate is very high, and you can get started right away.

Jul
04
2022

Benefits Of Getting Sales Tax Audit Defense Services For Your Business

In any kind of business, being prepared for any eventuality, regardless of whether it is for economic downturn or perhaps a natural disaster, is very important. It is because it can help a commercial enterprise survive as well as continue to do business. One of the most crucial areas where your company needs to be fully prepared is with a tax audit, and doing such implies getting professional sales tax audit defense services.

A sales tax audit is guaranteed for businesses, meaning, it is not something you can hope to avoid nor even should you avoid. Also, it is not something that will always go over without a hitch. If you receive notice from the Department of Revenue, you have to expect that you need to employ an experienced and competent tax auditor who will look over your uncollected tax on taxable sales or perhaps determine if you are underreporting. If you happen to be less knowledgeable or are actually going through your very first sales tax audit, the whole process may provide a nerve-wracking experience as well as an unfavorable result.

Thus, you really have to get the services of an experienced and reliable tax consultant. By doing so, you can get a tax audit procedure in place as part of your business process. A tax audit specialist will certainly help your business perform pre-audit risk assessments, lodge audit protests, do audit notice responses, along with other services that will let your organization to become fully prepared for routine sales tax audits.

Apart from that, a tax consultant will likewise give you pertinent advice or recommendations about resolving liabilities through the Voluntary Disclosure Agreement or simply VDA. This is a program that assists taxpayers, both businesses and individuals, to obtain certain benefits if they proactively acknowledge prior tax liabilities. Your firm will gain immensely from the insight, ideas and expertise of your tax consultant in reducing your tax liability via an ideal VDA settlement agreement and in guaranteeing that your firm adheres with all future tax obligations.

Indeed, staying on top of your sales tax and accomplishing your tax obligations are just as significant to your business as the investments that you make. Regardless of whether you have a clear grasp on routing sales tax audits or perhaps a better understanding about how the VDA works for your business, it would be a wise move to get an interstate tax consultant to give you leverage. With a professional and experienced tax consultant on your side, you are inevitably preparing to succeed. For more information, click here.

Jun
03
2022

Benefits Of Getting Sales Tax Audit Defense Services For Your Business

In any kind of business, being prepared for any eventuality, regardless of whether it is for economic downturn or perhaps a natural disaster, is very important. It is because it can help a commercial enterprise survive as well as continue to do business. One of the most crucial areas where your company needs to be fully prepared is with a tax audit, and doing such implies getting professional sales tax audit defense services.

A sales tax audit is guaranteed for businesses, meaning, it is not something you can hope to avoid nor even should you avoid. Also, it is not something that will always go over without a hitch. If you receive notice from the Department of Revenue, you have to expect that you need to employ an experienced and competent tax auditor who will look over your uncollected tax on taxable sales or perhaps determine if you are underreporting. If you happen to be less knowledgeable or are actually going through your very first sales tax audit, the whole process may provide a nerve-wracking experience as well as an unfavorable result.

Thus, you really have to get the services of an experienced and reliable tax consultant. By doing so, you can get a tax audit procedure in place as part of your business process. A tax audit specialist will certainly help your business perform pre-audit risk assessments, lodge audit protests, do audit notice responses, along with other services that will let your organization to become fully prepared for routine sales tax audits.

Apart from that, a tax consultant will likewise give you pertinent advice or recommendations about resolving liabilities through the Voluntary Disclosure Agreement or simply VDA. This is a program that assists taxpayers, both businesses and individuals, to obtain certain benefits if they proactively acknowledge prior tax liabilities. Your firm will gain immensely from the insight, ideas and expertise of your tax consultant in reducing your tax liability via an ideal VDA settlement agreement and in guaranteeing that your firm adheres with all future tax obligations.

Indeed, staying on top of your sales tax and accomplishing your tax obligations are just as significant to your business as the investments that you make. Regardless of whether you have a clear grasp on routing sales tax audits or perhaps a better understanding about how the VDA works for your business, it would be a wise move to get an interstate tax consultant to give you leverage. With a professional and experienced tax consultant on your side, you are inevitably preparing to succeed. For more information, click here.