Buying a home involves a lot of fun and games and by fun and games, we mean trials and tribulations. Once you find the home that you want to buy and that you can afford, you might think your troubles are over. Not so, because you still need to put an offer in on the home and get it accepted. Then, you’ve got to find a mortgage lender to get the rest of the money to pay for the property. When you have that finalized, you still need an inspection, solicitation and a moving team. Do you see what we mean by fun and games? But, if you know how the market works most of the problems can be avoided, so let’s get started.
Likeability Is Important
Did you know that whether or not the homeowners like you can be very important when buying a home? Estate agents aren’t usually swayed by different personalities. But the property sale might be represented by the owner. In these cases, it’s important to try and make a personal connection. Find similarities in your situation and try to relate with issues you’ve both experienced selling. If you do this, there are two things that might happen. First, they might give you first refusal on the home, no matter what other offers come in. Second, if there are two or more similar offers at the same time, they might choose you over other buyers.
Brokers Have Additional Access
Getting a mortgage can be like getting a book deal. If you want to get a book deal, you need a literary agent. Otherwise, publishers aren’t going to look at you at all. If you want to get a mortgage, you need a broker you to get through the gates lenders have. The best mortgage deals are behind these metaphorical gates, and you’ll only gain access if you find a mortgage broker. These deals are not even advertised or spoken of if you ring up the lender yourself. This is just one of the advantages of having a professional on your team when you’re buying a home.
Gazumping Is Common
Gazumping is still common and legal in most places. When you put an offer down on your house, and it is accepted, the house might stay on the market. At that point, buyers can still put in offers and outbid the price you’ve agreed with the seller. It’s a nasty practice, and it happens more often than estate agents would care to admit. There are a couple of ways to avoid it. Ask the estate agent to take the home off the market after the offer is accepted or refuse to make an offer. Make sure the buyer likes you enough that they wouldn’t want you to go through being gazumped. Finally, get your paperwork and solicitation sorted out as quickly as possible. Do all of these things and you should avoid being outbid after an offer is accepted.
Estate Agents Have, To be Honest
If you want to find out if there are any issues with a house, an estate agent must tell you. However, they are only legally required to tell you if you ask the question. An extreme example would be a house where someone has been murdered. Unless you ask if there have been any crimes on the property, they don’t have to say. That’s why you must make sure any questions for estate agents are direct and specific.
Tags: assets, budgeting, buying, investments, loans, money, mortgage, property, real estate, selling
Investment, Loan, Money, Mortgage, Property, Real Estate
Anyone that invests in property wants to sell it on for a profit. That is rule number one in the real estate investment handbook. Yet, it is something that lots of investors can seem to do for neither love nor money. In fact, thousands of investors in the real estate market end up losing money. Why? They lose money because they don’t make the right moves. Selling a property is a like a game of chess, and only the grand masters win. If you want to sharpen your skills, take a look at the following.
Think About The Resale Value
The fact that you have bought the property for X amount of money means you need to upgrade it to get your money back. Houses are like cars in the sense that no one will pay the same amount for it if it is second-hand. The only way to boost the price is to add features that homeowners want and will pay extra for to save them the hassle. For example, a conservatory will add a lot onto the value of your home. But, it saves them from paying for it and having to build one. In the end, everyone’s a winner. The trick is to find the features that add money and don’t cost a fortune.
Sell It Quickly
Sorry to be the bearer of bad news, but a slow sale isn’t good for business. That is bad news because properties don’t tend to go that quickly anymore. In fact, some can stay up for sale for months and years. The longer it goes on, the more you have to cut the price. Otherwise, you won’t be able to entice a buyer into making a bid. The perceptive among you will understand that you have to sell your home fast to make a profit. A quick sale prevents the sale from going down dramatically. For more info, follow the link above.
Find A Good Realtor
A good realtor is worth their weight in gold. The first thing to note is that they are professionals with skill and experience. So, they know how to sell a property. And, they also know how to spark interest in a property. From your point of view, that is brilliant. It is brilliant because the demand bumps up the cost of the property. When you have a multitude of interested parties, you can start a bidding war. At the end of the war, the one with the most money wins. Can you already see money signs in your eyes?
Choose When To Sell
Just like a chess game, you have to decide when to make the right move. You want to make a move sooner rather than later. At the moment, people are feeling better about their finances. As a result, interest in the housing market is starting to boom again. If you leave it too late, you could miss out on this initial boom. That will leave you with negative equity on a property that you can’t sell for years.
These tips won’t assure you a profit. But, they will make it more likely to happen.
It is very difficult to find apartments these days because most people are coming to India for education and job purposes and people want to buy more than 1 apartment just because the projects and properties look very promising. Even the builders of this country as well as each and every city have specialized in making projects for the Indian public according to their demand, their choices and their preferences. Moreover the real estate industry of this country is a strong one and also a developed one. Hence more and more people are coming to India in search for good apartments. Even though the entire country has unstoppable demand for projects there are some cities that have a crazy demand for apartments and are regarded to have higher demand than other cities.
Kolkata is one such city which is supposedly having the highest demand in current times. The reason for this could be the amazing universities and colleges in the city. Lots of students look for universities and colleges that will provide them a brighter future and a better life and such promising colleges can be found in Kolkata. Other reason for people going to Kolkata is that the living expenses in the city are next to nothing. You can easily afford a 1BHK for rent in Kolkata. There are good colleges and universities in Mumbai and Pune too but the living expenses and the day to day expenses of the city are very high and hence one can simply not afford to spend much. The rates in Kolkata are affordable but that does not mean that the quality of apartments is not good. The quality and space factor of the apartments is classic with an abundant of space in the apartment and strong buildings.
There are some more reasons why people generally shift to Kolkata. The companies and the offices that are situated in this city are providing excellent salary packages and that attracts most fresh graduates and people who are not very happy with their existing job to come and apply in these companies. When such people go to the city, they go to the city in the view of settling there and hence in few years they start looking for a permanent job and they shift from their 1BHK for rent in Kolkata to a 2 BHK or 3 BHK depending on the size of their family. This finally leads to populating the city and hence there is a demand for more and more apartments in the city.
If you are going to Kolkata soon then you might want to pre book an apartment or pre book a flat on rent through the real estate portals on the internet. The real estate portals are also known as the property websites and the housing websites. They provide you every detail about the real estate industry. Right from looking for a flat on sale to looking for a rented apartment or a serviced flat you can do anything and everything related to the real estate industry. You can even look for land on sale on these websites. These websites have so many users that they have officially surpassed the company websites. With their various features you can post an advertisement of your flat and can post a request of the flat you wish to have. When looking for a flat in Kolkata simply type “1BHK for rent in Kolkata” and press the search button. Wait for the results to pop up and once they are in front of you evaluate every option and then take your decision.
As there is only a finite amount of high quality land, it will always be a profitable investment even when the world’s economy appears to be turning upside down. When making a land purchase, always make sure it is a clinical process and not an emotional one. If you can hire professionals such as appraisers, engineers, realtors and real estate attorneys before the process begins, you will save yourself a lot of legal headaches down the line. Follow the tips below and you will hopefully purchase good quality property for a reasonable price.
Aims of Deal
Before buying any piece of land, you need to be 100% sure about the purpose of the purchase. For example, are you planning to build a retail space or office building? If so, is there any real competition in the area? If you are up against established rivals, you will have a hard time defeating them since they have a major head start and the advantage of being known in the area. Before signing on the dotted line, make sure that your plan for the land is a viable one or else you will be wasting time on a money pit.
Location
It is important for your land to be easily accessible by road or else transporting building materials during construction will be a time consuming and costly enterprise. The topography of the land also needs to be thoroughly investigated before making a purchase. It should be obvious that marsh land and low land need to be avoided as it is difficult to build anything safely on this kind of surface. If you want the land for agricultural purposes, it makes sense to check the soil type and quality. When buying land for commercial or residential reasons, it is a good idea to think from a landscaping view when evaluating the area.
Get a Copy of Covenants & Restrictions
You need a realtor or an attorney on your side to find out if there are any restrictive covenants as well as determining what you are allowed to build on the land. Zoning ordinances and regulations will define the way you use the land and you may have to change the zoning to fit your needs. For example, you may be looking at land that is zoned for a retail outlet but you wish to build an office building. Zoning ordinances can also limit the total height of the building or have a minimum parking space limit.
Even when you have reviewed the property, performed a cost analysis and are satisfied that the land you seek is worth the price, there is still the small matter of legal red tape. Never try to buy land for commercial use without a qualified team behind you or else long and costly legal battles could be the result.
Tags: assets, buying, house, investments, loans, money, mortgage, property, real estate, selling
Mortgage, Property, Real Estate
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Buying a home involves a lot of fun and games and by fun and games, we mean trials and tribulations. Once you find the home that you want to buy and that you can afford, you might think your troubles are over. Not so, because you still need to put an offer in on the home and get it accepted. Then, you’ve got to find a mortgage lender to get the rest of the money to pay for the property. When you have that finalized, you still need an inspection, solicitation and a moving team. Do you see what we mean by fun and games? But, if you know how the market works most of the problems can be avoided, so let’s get started.
