- Five Things That Nobody Told You About Real Estate
A real estate agent can help you identify the right property within your budget. Their services become inevitable in the event of buying or selling a property. Local real estate agents can quickly complete deal to the satisfaction of both the buyer and seller. Though, one must remember that their interest lies in clinching the deal for their own benefit. The first step to buying or selling a property is to know complete details about the property. Question your agent and they need to be candid about all the information they know about the property be it good or bad. Every statement needs to be backed by evidence.
Most real estate agents work with jargon not commonly understood by a layman. While buying or selling a property you may come across new terms that can be confusing. Property transaction involves lot of paperwork and this process is pretty complicated unless you are an expert in dealing with such documentation. Some of the most common terms used while transacting with property are net sheet, escrow, contingencies, pre approved and earnest money deposit.
Net Sheet is the amount the seller gets on hand after deducting all the fees and closing cost. This is the take home money for the seller. In a net sheet, you can find items tagged with costs that estimate you carry home money. Any seller should first check the net sheet. Similarly, a buyer should check the cost sheet that shows the final cost that the buyer will pay for the prospective home this includes closing cost. It also tells you when you have to pay the money.
Before the contract is closed, the money is kept in possession of a third party that is called an escrow. Once all the obligations mentioned in the contract are completed, the party hands over the money to the seller and property transaction is complete. The period until which the money is held is also mentioned in the escrow.
Contingency is a preset condition for sale and either party can walk out if the terms and conditions are not met. This could be loan contingency, inspection contingency, appraisal contingency and a host of other factors. It is vital that both parties stick to the dates to complete the property transaction in full.
Pre approval is taken from a lender that states that you will be offered a prescribed loan amount. Pre approval should not be confused with pre-qualification, as it is more of credit check and documentation proof for assets, income and debts. Earnest Money deposit is a amount deposited with the escrow company to show that the buyer is serious about the transaction. The bigger the amount, the higher the seriousness of buying the property.
- Luxury Real Estate Has Never Been More Attractive
Luxury homes are considered the playgrounds of the rich, mainly because of its splendid beauty and uniqueness. The fine art with the blend of exceptional design and architecture goes side by side in luxury homes. Some of the serious art collectors ensure to decorate their homes with art galleries. One of the finest agents for exquisite real estate is http://www.sailfishrealty.com/ and you will appreciate their grasp of market dynamics.
The luxury market was established in the year 2013, whence it has witnessed high growth with more than US$1 million home sales. The major reasons for its growth are, low interest rates, pent up demand and limited inventory. It has attracted three buyer groups – overseas buyers, millennial buyers and local buyers.
The luxury real estate established a strong connection with the best fine art market against the general housing market. It is very strong, especially in the urban centers, and recently the resort areas are now changing to luxury residential space.
The luxury market is leading in places like Hong Kong, Los Angeles, New York, Paris, Sydney, Toronto, Miami and Cote d’Azur.
Here, let us discuss some of the luxury homes around the world.
Floating house concept: This is an innovative concept that blends modern design and sustainability. This concept was actually created and conceptualized by a French firm and built by a famous Singapore architect. The stylish and luxurious floating home consists of two bedrooms, spacious living room, modern kitchen and contemporary bathrooms in each room. You can watch the natural surroundings in 360 degree views. This beautiful house was designed to meet the highest standards of Eco friendly and sustainable impact.
Rotating home concept: This is another all new creative concept designed to follow the sun. If you are crazy to take bath under the sun, then this is the best option to satisfy your cravings. It was designed by a group of creative architects who wanted to redefine the traditional concept. In this home, the roofs automatically turn to 90 degrees to get natural light during the morning hours. This house has seven floors and three floors have the capacity to turn according to the face of the sun.
There are more than 160,000 luxury living spaces in about 97 countries. Interested buyers can browse and get in touch with the architects who develop world class luxury homes. Most of the agents display their properties on a single website to reach millions of consumers. It is recommended to depend on independent and trusted professionals when planning for luxury real estate.