- Profiting From Disaster: Buying Commercial Property at Auction
When a homeowner whose house has been bought on a bank loan fails to make payments, they are likely to have the property seized. This legal process known as foreclosure is a potential investment opportunity many will not want to miss. Every month, many commercial facilities are put up for auction at above reasonable prices. Potential investors need only go over the many commercial property auctions London has to offer and find the most attractive one.
Why should I buy Commercial Property at Auction?
There are many advantages of buying real estate at an auction. Some of these benefits involve the process, whereas others only concern strictly financial aspects.
Open and Public: many people are attracted to auctions because they feel safe to do business in a fair and open bidding setting. There are many types of auctions but real estate auctions are fun to attend and are easy to understand.
Good Bargain Opportunities
Real estate auctions generally lead to potential bargains that would not have been possible in other more traditional types of environments. Even when buying commercial property is usually regarded as being much more costly than purchasing a private home; at auctions, these prices are a lot more affordable. In fact, many properties can be bought at prices well below their market value. These types of bargains make great investment opportunities for those who are seeking to acquire a cost-effective commercial property.
Quick Transaction Time Frame
Once the auction is over and the hammer falls down, the completion is generally achieved within 28 days, on condition that you pay the remaining balance. Since private transactions can be lengthy, this is a good way to ensure swiftness.
High Degree of Certainty
Many certainties come hand in hand with the auction process. First and foremost, you will know exactly how much the property will cost and when the property will be yours.
Buying Commercial property at Auction: What you should know
In order to make the most out of your auction experience, you should go over these useful tips:
- Take a Look at the Brochure: Most auctions have websites or release brochures where you can read about the most outstanding real estate business deals. It is through these tools that potential buyers can get to know about the property as pictures, information and instructions regarding the registration procedure, terms of sale and requirements.
- Pre-view the Commercial Property: Before the auction actually takes place, there will be several or at least one, on-site inspection dates to visit the facility. These are wonderful opportunities to take a close look at the property
- Attend the Auction: Some investors ask other people to attend the auction for them. However, real estate auctions are more effective when you are there yourself. Once you have been informed about the previous steps involved in the auction process, you are better able to make the right decisions about your purchase.
In all, even when there are certain risks involved in the auction process, buying commercial property at auction can be a profitable way to invest your money.
- The Benefits of Mortgage Repayment
Buying a home is one of the most joyous moments in a person’s life. However, truth be told, it can also be one of the greatest life stressors. Once the deal is one, you wonder how you managed to survive many challenging tasks. You had to find a Real Estate Agent, you had to go over the tons of paperwork, the hassles of endless phone calls and the anxiety of not knowing whether your were doing the right thing or not. In spite of all the stress, being a proud owner of a residence is something to be celebrated; at least until the first mortgage payment comes along a month later. It is then when you realize that you will be spending the following 30 years of your life trying to keep up with this responsibility. This is perhaps, the very moment when most people begin to consider that perhaps, they should make a greater effort, yet and pay off their mortgage in advance.
Why Pay Back early?
In a world of economic uncertainties and high unemployment rates, the burden of costly monthly payments may eventually take away anybody’s health or peace of mind. This is why mortgage repayment may be a wise choice, in spite of everything. There are many benefits of mortgage repayment:
Money-saving Strategies: If you take a closer look at the papers you had to sign in order to buy the place you currently own and analyze the amortization schedule. If you do the math, you will soon realize that you will be requested to pay twice the price of your home, even before you become the full owner.
Peace of Mind: by far, one of the first reasons many people choose to accelerate their mortgage payments is because they have a hard time putting up with the stress that comes from the “losing your home” haunt. When you lose your job, the idea of losing your home as well, makes it much more difficult to find other job alternatives, such as resorting to some underemployment option or taking up a job that pays much less than your present job. Having an affordable place to live in, regardless of your income is priceless.
Sound investment Return: Financially speaking, getting back your initial investment is also a major asset. You can now dispose of your house to sell it or re invest its worth in some other way. This option is by far, more reliable than any other alternative offered by the stock market.
Plan Early Mortgage Payments
One of the greatest mistakes most homeowners make involves not planning before purchasing their homes. You should purchase the place with a repayment plan included. The best advice any investor could take is to spend less before buying. You should analyze closely how much you can spend on a house. Once the figure has been settled, start looking for a house that costs less, not a penny more! This strategy will give your home economy enough cashflow to ensure repayment options. Otherwise, you will not only be unable to make extra mortgage payments, but will begin to fall behind in your actual payments.
- An Easy Way for Professionals to Find Apartments
There is one modern asset that money just can’t buy: time. If you happen to be one of the many professionals who are looking for an apartment to rent, then you should take a look at this information. It may be possible that you have a clear picture of what you want. It may also be possible that you have the necessary paperwork to negotiate a lease. But perhaps, you just don’t have the time to do the looking for and the dealing. This is why you need the service of a professional apartment location service to help you find the right apartment for you.
Stop looking at ads offering River West Luxury Apartment Rentals and go to Chicago Rent Finders instead. You will be surprised at the many alternatives available for you. This company provides much more than just the average real estate services and a lot more than just a list of apartments to choose from.
Go the Chicago Rent Finders Way
Having been in the corporate world for many years, the founder of Chicago Rent Finders knows all about negotiating and making the best use of their time. But again, this is not only about the business. One of the most interesting aspects of the company is that the founder himself turned to real estate out of passion, and it shows. There is a certain joy and happiness every time one of the company’s clients finds what they were looking for.
What the Company is Based On
Chicago Rent Finders is based on three fundamental pillars.
Commitment: To their work and to their customers, but above all, to their permanent growth and innovation.
Focus: On their job and on meeting clients’ demands. By pursuing specific goals, the company is able to satisfy their customers’ wishes and their needs. In fact, professional agents are better equipped to advice apartment hunters on what is best for them, rather than how a choice will make them feel.
Personal Involvement: On occasion, people express their dissatisfaction at the cold and detached treatment that certain real estate agents give to their clients. Moreover, many people claim to have felt ill-treated when presented with alternatives that had little or nothing to do with their present reality. At Chicago Rent Finders on the other hand, people will feel that they are being listed to. In fact, they will feel that their needs are being catered for in such a dedicated way.
As we mentioned earlier, the head of the company is passionate about the work he does, and this seems to get through to all the other agents and to clients, as well. As a professional, you deserve this type of dedicated, more personal treatment. In all, the next time you need to look for an apartment to rent, remember there is an easier, more efficient way ahead.
In order to learn more about how finding a new apartment can be easy, check out Chicago Rent Finders-Luxury Condo Experts.
- 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.