Tag: property

Property Leasing

One big reason to lease instead of buy your property is that the upfront cost of doing so is relatively less. Then over the course of time you also pay less than you would if you bought it. Much of the time the seller of the property will give you a better price to begin with if you lease it. After all; your current stream of cash is of the utmost importance, especially in the first few years. Going with the leasing concept is a crucial factor in doing this. With a purchase you have to contend with a down payment of a mortgage. When you lease you do not have this.

Along these lines you should also consider that your company is not yet established enough to receive a good credit rating; and, you may not be able to support a mortgage. Plus mortgage lenders might hesitate to grant your company credit. However; you will likely get a favorable decision from the property owner on whether or not to lease the parcel to you.

A second factor to consider is one you probably have not thought of: do you want the maintenance responsibilities that come with owning your commercial …

Problems With a Property Following Purchase

First, you have to be sure that the seller gave a sort of warranty and guarantee. This have to be on document. Otherwise, you’ll have a hard time proving it.

Should there be a strong proof of the said warranty, then you can have the seller liable for the undisclosed problems.

Fraud is another thing which you can have the seller accountable for. Under this instance, misrepresentations or omissions are committed with the intent of not allowing the buyer know of the flaws. There is a clear intention of hiding imperfections such that the buyer is made to believe that the house being sold is in either excellent or very good condition when in fact there are problems or defects.

Structural defects are the most common defects that are hidden through seller frauds. But be aware that some sellers might also be knowledgeable of the kinds of materials declared in the documents when in fact those are not actually the compositions or the types used. Omissions are considered fraud because of the similar intent of not disclosing a known problem.

To make it fair and square with sellers, they are not always liable when problems are discovered after the house …

Common Property Frauds

  • Executing the purchase and follow up activities
    Make sure your builder sticks to the possession date that he has promised because often builders delay when they do not find buyers or their resources dry up leading to no money left for completing the project. Getting possession of your house as soon as possible has several benefits, one being the tax benefits that kick in after possession. The period prior to the possession date has a different tax treatment as pre-construction period.¬†Once you get possession of your house, the builder is responsible for maintenance of the building for a period of 18 months after the Occupancy Certificate (OC) is given. By the end of the 18 months, the builder will initiate the formation and registration of the society, which will elect its representatives and take over the management of the society from then on. Once the society is formed, telephone and electricity bills will be given in your name. Hence, it’s important to ensure the society is formed within the stipulated time.
  • Deliberate Delays:
    Even though the builder may have a handful of successful projects, it is important to ensure that the builder lives up to his promises in the

Buy Overseas Property Safely

Get help from a financial specialist

Sort out your financial preferences that would help you allot a suitable budget to purchase the property. Get a provisional mortgage if you have plans to borrow money apart from what you plan to pay from your pocket. Ask your financial specialist to suggest a long term repayment plan that would be feasible for you as the lending criteria and the borrowing costs may change during those years.

Hire a foreign exchange specialist

If you borrow money overseas, but earn at home, you have to make sure that the rate fluctuations would not affect the value of your property. The difference in the value of currencies could take the property out of your hands as it goes beyond your budget. Discuss with a foreign exchange specialist and understand your risks and have a proper contingency plan to handle unpleasant situations.

Double-check the agent credentials

Apart from hiring an independent lawyer, choose a professional overseas real estate agent to assist you through the process. Place your focus on the agency rather than the property you want to buy. Question them in all possible ways to make sure the company or the agent is potentially the …

Buy New Property

The Facilities

Modern new properties come with a variety of facilities which directly determine how valuable they are. These amenities include pavilions, studios, gymnasiums, Laundromat, pools, groves, avenues, ponds, fitness galleries, jogging trails and spas among many others. The facilities that a property has determine its value and just how convenient it will be for you or the target market. Now-a-days people are paying more attention to luxury options when it comes to a property. It makes it important to choose something that will be most appealing.

Surrounding Property Value

Before buying a property, it helps to also consider the value of other properties in the same area or location. The worth of the neighboring houses can help you in putting an estimated value to the property. You however must consider the available facilities and factors such as the view that can be enjoyed from one property to the other to make a good estimate. New amenities can affect the value of the property. When you check around, you will also get to know about shared challenges or problems among the properties.

Market Timing

It is among the most important. It is of great importance to time the property buying …

Quick Sale of Property

Plan of action for a quick house sale

There are some actions required on your part if you desire to sell your house as soon as possible. There are bound to be many sellers in the market offering a similar type of property. In order to complete your sale soon you need to compete with them and for that you need to stand out of the crowd. Following are some tips to sell a house quickly-

  • The first and the best move is to contact a real estate agent to plan your sale and know the market value of your property. A real estate agent will fetch a buyer soon for you and give you the best advices on your sale plan.
  • The next move is to enhance the appeal of your property and bring updates which are in your budget. For your property to be sold the major condition is that a potential buyer should like it. You should clean every corner of your home and beautify it before the buyer visits to check your property for the first time. Upgrades are important to add value to the appeal of your property. All this should be done taking the

Determine the True Worth of a Commercial Property

“Market value is what’s typically meant when referring to a property’s value and is the value used for loan underwriting purposes.” Market value is used to estimate the amount of money the fully developed project will bring in (upon its completion) when it comes time to sell it or rent out its individual units. There is an organization called the Appraisal Foundation where much more information can be found on market valuation of commercial properties.

“Investment value refers to the value to a specific investor, based on that investor’s requirements, tax rate, and financing.” Or in other words the amount of money that a particular investor would pay for the property in question, upon its completion. Different people have different goals when it comes to investing their money. Therefore the investment value of a specific commercial construction property can vary from one investor to another.

Other types of factors that make up the total worth of commercial property include: insurable value, assessed value, liquidation value, and replacement value. There is also the cost approach; or a value that is determined upon what it would cost to replace that particular building in accordance with the value of the land. There is …

Things To Do Before Investing In A Buy-To-Let Property

Work With Numbers

Do the math involved in the entire process of investing in a buy-to-let. You should ideally get a minimum valuation of the property done before buying it. You could also do some research on the rental rates in the locality to get a fair idea of the possible income flow from the property in the future. Then, approach the banks and negotiate appropriately. Keep in mind the calculation involving the parallel costs like mortgage arrangement fee, broker fee, stamp duty, legal fee, and survey fee.

Buy Lettable Instead Of Old

Think twice before buying an old house. They are not only difficult to rent out, but turn out to be of poor mortgage value. Always select a house that is lettable and matches your set of requirements.

Target Tenants

You must know what class of tenants you are planning to target with your buy-to-let property. It will give you a basic idea of what to expect from each party. For example, a student doesn’t seek luxury, but clean and accessible houses. If you are looking at young working professionals, the house needs to be comfortable to live in and stocked with amenities. If you are targeting families, …

Off Plan Property

Developers often market their properties this way because it provides the funds necessary to do the construction. Also, many banks won’t loan money to developers without at least 70% of the available units pre-sold.

Everyone wants a good deal so how this becomes a good deal for the apartment buyer is that the purchase is often discounted. Assuming the property market is stable or grows, this often means that the value of your off the plan apartment is worth more at completion than you paid for it. You have to admit, this is a good thing. Also, you usually get some say as to the fittings for the bathroom and kitchen, floor coverings, and colors which you wouldn’t have if you waited to make the purchase after the building was completed.

On the downside is that the actual construction can take a few years to complete depending on the size of the project. It’s also possible that the market value of your apartment could even go down. But, again, the upside is that you are buying at a cheaper price than you normally would and you also have several years to continue saving for the day your beautiful, luxury apartment

Real Estate Virtually

Internet has a major role in pacing up our lives almost on every front. The emerging virtual world of the real estate is a good example of it. People prefer to search for a product online before they actually buy it and it applies to property search as well. Online property search is catching up fast, be it a residential or a commercial plot, building, flat or office space. A customer can view all the options available on the internet and shortlist those which are relevant to his needs.

So for people, who want to sell or rent property, it’s an advantage to be on the internet because-

  • It’s a cost effective medium as compared to other advertising mediums like the newspaper or the TV.
  • Gives you more space to describe your property than a print media classified ad where you are being charged for each column centimeter.
  • You ad has a longer life on the net and can be viewed for months unlike a newspaper ad, which fails to survive beyond one day.
  • Buyers from any part of the country can view your ad thus increasing the reach of your ad exponentially.

Tips on Selling

  • Decide a selling price