Real Estate

Once the tenancy period as stated in your rental agreement comes to a close, you’ll be left with two options, to vacate the premises or renew your tenancy. If you decide to renew your tenancy, a number of events follow. Here are the highlights.

1. A Rolling Tenancy Is Automatically Renewed

Under rolling tenancy, the clauses under the previous contract of your tenancy immediately become valid under the new one. This kind of tenancy is highly profitable for you as a tenant, as you get to continue staying in the same house without going through the hassle of renewing the contract. Another advantage is that the landlord doesn’t get a chance to increase the rent.

Note, however, that if you’re subletting the apartment from the original tenant, the rolling tenancy clause will not be applicable.

2. Tenancy Renewal Must Be Discussed With The Landlord Beforehand

More often than not, your landlord will intimate you about the impending cessation of the contract before the actual expiration date. If you wish to continue occupying the property, you’ll have to intimate the landlord of your intentions. Remember, just as you find relocating difficult, your landlord also dislikes the process of screening a new tenant every now and

Real Estate

‘Fraud’ is that one word you’d rather do without when it comes to making mighty transactions. And if we’re talking mighty, we’re talking real estate. Getting trapped in a real estate fraud is among the worst ways to lose large sums of money, and you end up not getting what you had paid all that money for. Here’s what you need to do to keep yourself out of such trickery.

Identify Whose House It Is, Really

‘Title Fraud’, also known as identity theft, is a property owner’s worst nightmare. Tricksters forge documents by changing the property owner’s personal details to match theirs. Once the property and all the documents are transferred to their name, they procure a new mortgage against this property and seal the deal. Taking back your house after that is quite a hassle. In fact, what if they sell your property?

In addition to thoroughly verifying who the property belongs to, you can opt for a ‘title insurance’, which protects your property title against fraud. This also guards a new owner against existing claims, such as unpaid property taxes, unpaid utilities, and unpaid mortgages.

Don’t Opt For Loans Offered In Disguise

a) Foreclosure Fraud

Cash-strapped property owners that can’t afford to meet

Real Estate

Brokers and sales agents are distinctly different in the real estate business. Many home buyers and sellers do not know the difference between an agent and a broker. Both brokers and sales agents help their clients with the buying, selling, leasing, and renting of properties, but brokers are licensed to manage their own businesses, whereas the sales agents must work with a broker.

In California, a sales agent must be at least 18 years old, with proof of legal presence in the U.S. They must then have successfully completed three college-level courses: Real Estate Principles, Practice and one of twelve classes, such as Property Management or Economics. These classes must be three semester units of four quarter units each. The classes must also be completed at an institution accredited by the Western Association of Schools and Colleges, by a regional accrediting agency recognized by the U.S. Department of Education or by a private school that has been approved by the California Commissioner. Then the agent must pass a proctored written examination. Those passing the exam, have one year to submit an application to the Department of Real Estate for a California Real Estate License. A salesperson must obtain a license

Real Estate

The many parcels of land being converted into beautiful residential zones make it a bit difficult for home buyers to choose their next communities. Beyond the main reasons like price tags and location, what makes up a community has also become a deciding factor in home buying. If you are looking for your next home in Coconut Creek, one of your best choices might be within The Township. Here are popular reasons why you should try your house hunting luck there.

It is a diverse community with a sure fit of a house to match your needs and finances.

When buying a house, personal and family needs are greatly considered along with the finances to back the purchase. In this well-planned community comprised of about 5,300 homes, you have the highest probability of finding the house you really want. Home choices range from exquisite villas and lavish condos to the more economical townhomes and single family homes. These residences also offer varied styles and sizes assuring home buyers of any family size to have a find.

Fantastic community amenities are available for use.

A great community has great amenities to offer to its residents to make their lives in that said community more

Real Estate

Have you always wanted to invest in real estate but don’t know where to start? Here are some of the different areas of the industry that you can invest in:

Areas That You Can Invest In

Residential: these are properties such as townhouses, apartment buildings and vacation houses. Here a person or a family will pay you in order to live in your property. The length of time that an individual lives in your house depends on your rental or lease agreement.

Commercial: commercial real estate consists mainly of office buildings. When you construct office buildings you can rent them to companies and small business owners. Again the length of time that the business owners use your property depends on your agreement.

Industrial: this one consists of car washes, storage units and any other special type of real estate where customers use your facility on a temporary basis.

Retail: it consists of trip malls, shopping malls and any other retail storefronts. When you construct a mall, you can rent it to a person interested in running it or you can run it yourself.

Mixed-use: this is where you combine any of the above categories into one project. For example, you can construct a storied building

Real Estate

You have bought a beautiful house and everything’s working perfectly. But lo, it rains and your house is flooded with water! Yes, waterlogging issues can be an unforeseen problem that can arise after you have moved into your new apartment. Most common during seasonal rains, waterlogging can leave you stranded when you get out of your house. It’s true that most of us are still in the dark when it comes to dealing with this issue. Keep reading to find out some of the most effective techniques that you can use!

Understanding The Issue

Waterlogging in your house can be caused due to many reasons such as storm runoff, sullage, or damaged drain sewers. Apart from the short-term effects like hampering your daily routine, it also causes other serious damages like weakening the foundation of the entire house. When water mixes with other garbage and wastes, this can pose a great threat to your health. So, it is always important to understand these risks and deal strategically with water logging issues.

Effective Precautions And Strategic Troubleshooting

Once you know what the problem is, it becomes easier to take steps to troubleshoot. Some effective solutions to prevent water logging in your home are given

Real Estate

Choosing the perfect investment avenue for yourself can be a strenuous experience, if you are not aware of the various options available. According to most investment experts, real estate and stocks are the best bet, when looking for a new investment. While both have their advantages, you cannot overlook the negative aspects as well. Here is a comparative analysis of property investments and stock investments-

Real Estate

The Benefits

1. Middle-Class Friendly

Real estate includes houses, apartments, hospitals, and other tangible things that middle-income and even lower- income groups are familiar with. This is in stark contrast to stocks, as the general population knows minimal about the latter. Hence, they prefer investing in property over stocks.

2. Safer Investment

Compared to stocks, which have a higher risk factor involved, property investments are relatively safer. While both real estate markets and stock markets are quite turbulent, the former has a bigger safety net. The reason being that with property investments, not much is left to chance.

The Drawbacks

1. More Research Involved

Stock investments are pretty straight forward and don’t require excessive research on the investor’s part. However, real estate investments involve a lot of hard work. From deciding on the property type to finalising on the mode of

Real Estate

An important aspect of hiring a contractor to do work in your home is to understand what permits, special requirements or licensure are required for each job. Once that’s understood, you can know whether it’s best to hire a licensed contractor or a handyman.

REFERRALS
Be sure to ask for referrals and references and know the relationship of those referring parties to the contractor. Ask for pictures of installations on similar jobs that have been performed for others and give those referring parties a call or visit to ask how the work was performed, the attitude during the job, coming in on budget and wrapping up on time. Discover if there are any negative remarks online or with the BBB. Be sure he or she is qualified to handle the scope and type of work needed, especially with regard to special conditions such as lead based paint, asbestos, mold, etc.

IDENTITY
If the home is occupied, if personal items are stored there or is otherwise notid_verified vacant, be sure to qualify your contractor if he’s unknown to you through online services such as mysmartmove.com or others. Get a copy of the contractors driver’s license and have him sign a w-9 to

Real Estate

An apartment building can still be a good investment today. Why? For starters, there are still a lot of people who are still looking for homes to rent. In addition, the units of an apartment building do not just have to be spaces for residence or homes for families and individuals. By getting the right permits, units in an apartment building can be rented out as commercial spaces.

First-time buyers of apartment buildings will certainly have high expectations regarding this particular investment. This is mainly because they will invest a significant amount of money for this venture. As such, if you want to make sure you will own the right apartment building that can help you find success in the field of property rentals, make sure you avoid these common (and costly) rookie mistakes:

Not looking into the history and reputation of the apartment building’s builder or developer.

As a first-time owner of an apartment building, the last thing you want to happen is to stumble upon some structural problems or system failures. As such, it is important to check the background, capability, and reputation of the company that constructed the whole property. Going online and asking companies or individuals that have

Real Estate

Want to learn how to deal with a low home appraisal? In a competitive real estate market, a home being sold may enter into a multiple offer situation which could potentially raise the purchase price above the comparable sales in the area. In a situation like this, it is possible that the home appraisal for the buyer’s mortgage lender will come in lower than the purchase price. In a real estate market that favors buyers (home prices are soft or declining), sellers can also face a home appraisal that is lower than what they paid for the home if they bought the house at the peak of the market. Be aware that a low home appraisal can happen in any type of real estate market.

Why Do Low Appraisals Happen?

Here are a few reasons why a home appraisals may come in low:

  • Inflated home price because of multiple offers.
  • Declining real estate market due to a large inventory of homes and not enough buyers.
  • The seller has overpriced the home.
  • The real estate appraiser lacks experience and doesn’t understand the influences on value.
  • The real estate appraiser incorrectly selected his comparable sales for his report which may have resulted in a lower home value than
Real Estate

A home appraisal is a critical component of any real estate transaction that involves a mortgage loan. If you are refinancing you will need an appraisal, if you are selling your home to someone that needs to get a mortgage, he or she will need to have an appraisal done.

What Is a Home Appraisal?

A home appraisal is an opinion on value by a qualified, unbiased third party. Mortgage lenders require an appraisal to be completed when you are refinancing your mortgage. An appraisal is also completed in a transaction when someone is buying a home to make sure they have not over paid for it.

Mortgage Lenders require appraisal to ensure that homeowners are not over paying for a property because if the borrower stops paying for the mortgage the lender will take action to remove the borrower from the home and sell it to recoup their money, this is why it is important for the home to be worth more than the money loaned. In essence, a home appraisal is a lawyer of protection for the mortgage lender.

The Appraisal Process and How Appraisal Values Are Determined

These are the main factors that influence your home’s appraisal value: current market trends

Real Estate

Independent house valuation is one method which is being adopted by those who are willing to buy or sell a house. This is one method, which gives them a clear and comprehensive idea about the value of the property with regards to the market rate. Most of the people are not aware about the technicalities that go in when it comes to house value assessment; however, most of them know that is an important thing to do while buying or selling a property. When it comes to know the value of properties, there are numerous aspects which need to be considered. In the following sections, an insight will be presented on house valuation.

Income Method – What is it?

This is one method which is used for the property valuation. Here the total worth of a property is being estimated based on the revenue potential. The income which is calculated can either be generated as rental income or from re-selling the property. This is quite a complicated method; however, it is quite frequently being used by the investors when they are to fix a value on a property or when it comes to assessing the profitability of their investment in the

Real Estate

There are no yardsticks to measure the value of a freehold property. This is because evaluating a freehold is not an accurate science. However, you can follow certain guidelines on what you need to take into consideration when valuing a freehold, which is produced by the advisory services that give free advice to leaseholders. You must also take these three factors into consideration:

1. The current value of the property

2. The annual ground rent

3. The number of years currently left on the lease

Also, evaluate the expected percentage increase in property value that results from extending the leases of different lengths, along with forecasted long term interest rates and inflation rates.

Take help from an expert valuer rather than trying to work out a figure all by yourself, to present before the freeholder. An expert valuer will be able to give you the best advice, which will enable you to make a practical offer.

You will find expert valuers online. They will help you with the entire process of negotiation and buying the freehold.

For the benefit of the freehold, most surveyors add a little extra to a property’s value. This is done after comparing it with similar property with the same number of

Real Estate

OK OK… I don’t really mean to not trust your Realtor or other advisors, unless they give you really bad advice, like the three mistakes outlined in this article. Many Realtors understand how to value real estate and can be a great asset (especially the ones that focus on real estate investors), but the unfortunate truth is that many investors and agents make these common mistakes:

· Add value to a property for a bedroom

· Incorrectly adjusting for square footage

· Compare non similar style homes with no adjustment

Add value to a property for a bedroom

This is by far the most common error that I see. In some cases a bedroom will add value but normally you cannot count on it. If a house has more bedrooms it is likely bigger and the large home is more valuable, but the bedroom itself is not adding the value, the square footage is. If two houses are the same size and one has an additional bedroom it is lacking something else OR has much smaller rooms, which will deter some buyers. It is basically a wash for valuation purposes. The one exception to this is if the house does not conform to the neighborhood.

Real Estate

Buying a house is a major financial decision that will not only give you a peace of mind, but also a wonderful place to live, and of course, the perfect location to start a family for those who are planning to settle down. Sooner or later, you will have to decide to settle down on your own home that will be considered as the best location to start a family.

That being said, it is important to greatly consider the factors that will affect your everyday living experience. The following tips will help to get your search of to the right start. While it is important to note the number of rooms, the size of the yard and the layout of the kitchen, there are several important things you need to consider before making an offer.

Avoid trying to time the market

– Trying to time the market when you are planning to purchase is impossible. Considering whether the market drops low or gets too high will only prolong and possibly make you lose your chance of owning your perfect house of choice. The best time is when you find the best one that you can afford. The real estate market is

Real Estate

A lot of business owners wish to have a wonderful office. Of course, having such office can help them experience a better and comfortable work area. Not to mention, good offices can attract potential clients. However, in order to attain this, it is important for business owners to have good building creative concepts. But, there are numerous factors you need to consider to get the best results. Below are some of the things you need to consider.

Identify potential needs and problems

First and foremost, when making building creative concepts, it is imperative for individuals to identify potential need and problems. Knowing needs allow individuals to determine what things must be included in the designs. Not to mention, individuals can also create a better perspective on how buildings must be constructed. Apart from that, identifying problems before starting the project can help you reduce your expenses. Plus, reducing problems can also increase safety in your work area.

Create the right design

After identifying potential needs and problems, it is now time to create your design. Of course, when designing, you need to be cautious. This is essential to ensure that you will all have the features you need which can match your budget.

Real Estate

This is an activity that is purposely done to misrepresent information on real estate documents. It also involves the money transfers. It is also called mortgage fraud. The reason that it is referred to as this is that the fraud generally takes place with the mortgage application. Real estate fraud, in the United States, can have heavy penalties like imprisonment and large fines.

Such a crime can be committed in many different ways. It appears to happen more often when property prices are on the rise. Because of the simplicity of the fraud, some types are seen more than other frauds. Some are not as common because they are more complicated. One of the common forms of such fraud, according to the IRS is preparing two settlement statement sets that are different from each other. In one of the statements, the accurate property-selling price is written, which the buyer receives. The other one will depict a higher selling price that is exaggerated. When the mortgage lender approves the loan for the exaggerated price, the seller is given the amount that is stated in their copy of the settlement statement. The one who committed the fraudulent settlement statements will keep the

Real Estate

If you are a builder or Fix and Flipper, you have undoubtedly thought about whether or not to outsource the General Contractor role on your projects. The obvious benefit to not hiring a General Contractor is the money you will save, but what is the cost to save that money?

A General Contractor is someone that will oversee your project. They will manage all the subcontractors and help get you to the finish line. They are generally not as skilled at specific tasks, like plumbing or electrical, but might be more organized and should understand the basics of the entire project.

BENEFITS OF ACTING AS YOUR OWN GENERAL CONTRACTOR

In most cities you will be allowed to act as your own as long as it is a smaller job or you hire and manage licensed subcontractors. General contractors will want to be paid for the value they bring to your project so if you choose not to hire one, that savings will go directly to the bottom line. Paying less for the rehab could mean more profit for you.

Another benefit of acting as your own is the experience you will gain. As a real estate investor, it is a good idea to have

Real Estate

One question that every homeowner is faced with when buying a new home is whether or not they should get home warranty coverage. Well, there are plenty of things that factor into making that decision, but most people would agree that having coverage is well worth the cost.

For those of you new to warranties, basically it’s a type of “insurance” the provides coverage for major systems and appliances in your home. For example, lets just say you have a built-in dishwasher that is causing you problems. You can either pay to get it fixed, or depending on the condition of it, you may end up getting a new one. But having warranty coverage enables you to get it fixed or replaced at a fraction of the cost.

Also, most providers have a network of companies they are affiliated with who provides consumers with the replacement parts or repairs. So it eliminates the hassle of trying to find a reputable repair company. It may not seem like a big deal, but every day people spend countless of hours trying to find a company that has good reviews and have a decent price. And having warranty coverage provides you with top notch contractors

Real Estate

This tends to be a pretty controversial subject, and for good reason. When I was getting started in the business, I was young and broke and had no credit to speak of. I was not qualified to borrow money, yet I figured out how to buy properties, and I bought a lot of them. It was not long before I became a full time real estate investor, and on paper, I was a millionaire long before my 30th birthday. I accomplished this with a lot of hard work, education and tolerance to take the risk.

With all this said, just because you don’t need money to buy houses, does not mean you should have no money. I am a big, big believer in this. You see, although I was a millionaire at a young age, I basically lost it all when the market shifted. I was too aggressive with my growth, and did not establish an appropriate amount of reserves. After starting over, I structured things differently and am in a good position to not only survive a down turn, but to thrive in it. In this article, I will briefly walk through 4 ways to buy rentals with nothing out