Sunday, August 1, 2010

Homebuyers

Learning the basics

Buying Miami Beach condos doesn't differ much from buying traditional real estate properties. First, you need to know what the entire process entails. There are several things that separate condos from other real estate properties. And although the basic requirements remain the same, there are others that you must fully know about.

For starters, you have to determine the proper method of starting the process. A good way would be to know the several Miami Beach condos available. This way, you'll also be able to define which location will be suitable for you. Next, determine your method of financing. This will be tremendously helpful in the future once you are ready to make your final choice.

Important factors to consider

Aside from financing, research is another important factor you have to consider when buying condominiums in Miami Beach. And one of the key points you have to focus on is the homeowners association.

The homeowners association is the body responsible for maintaining the entire building, including the common areas. You must know if the association of the building you are about to choose is responsible in handling funds and have not been tied up in any form of litigation. The importance of knowing the history of the association cannot be stressed enough. If you want to avoid any financial problems in the future, i.e. skyrocketing condo fees, be sure to check the association first before entering any formal real estate transaction.

How to approach the process

There are several methods of approach the process of buying Miami Beach condos, but the most important to consider is your readiness. Before entering any real estate process, you must be fully equipped with the requirements. Aside from the financial necessities, you must also be mentally prepared to see the process through. Always be open to unexpected possibilities that might hinder your progress and anticipate them as early as possible. This surely helps you create an even sturdier defenses for your interests.

Thursday, July 1, 2010

Helping an inexperienced

One usually thinks of a landlord as an experienced property investor, owning dozens of properties. However, sometimes people end up as a landlord by default, rather than by design.

Perhaps they have inherited property and want to rent it until local property prices increase. Or, maybe they have moved in with their partner or re-located for work, but haven’t sold their own property yet. Even the recent economic turmoil has created reluctant landlords, with some people forced to rent their homes to cover their mortgage payments while they try to find a buyer.

Whatever the reason behind their new found status as a landlord, they probably have a limited understanding of the current regulations and the procedures in the residential property rental market. Equally, they probably won’t have much time to dedicate to being a landlord. They will want simple solutions for their rental property, including help to advertise their flat and a tenant efficiently.

If you are about to become a landlord for the first time, here are a few important requirements to help you.

Be aware of the regulations and your responsibilities as a Landlord
There are certain regulations that apply to all residential rental property. Complying with these is the responsibility of the landlord – even if they use a letting agent. So as the landlord, it is up to you to adhere to the following requirements.
• If the property is mortgaged, you must tell the lender that it is going to be rented. If you don’t you could be in breach of contract and your lender could call-in the loan.
• If the property is a leasehold make sure you tell the freeholder about your rental plans and get their written permission.
• Get the right insurance. Normal buildings and contents cover does not provide adequate cover - you’ll be better off switching to landlord’s insurance
• The law requires a landlord to protect their tenants’ deposit in an official government-backed scheme, be it insurance-based or custodial.
• A landlord must provide a new tenant with an energy performance certificates (EPC) for the rental property.
• Make sure the property is safe by installing smoke alarms and have any gas appliances inspected each year by a CORGI-registered engineer. Any furniture included with the rental must comply with the current fire safety regulations.

How to find a tenant and let your property

Once you have all the paperwork in place and safety checks done, you’ll need to find a tenant. You could use a letting agent. They will know the local letting market and will be able to vet your potential tenant. Although you still need to make sure all the regulations are adhered to, you may find it easier to use an agent.

If you have the time and inclination, you could manage the property yourself. In which case, you will need to find a tenant and do all the paperwork yourself.

The good news is that these days you can use the internet to advertise your property. The specialist property website u-rooms.com uses all of the power of the internet to advertise rental property. This approach will help you to find a tenant easily. Plus, at £12.99 per listing it is cost effective, and well worth considering even if you are using an agent to manage your property.

Whether you decide to find a tenant and manage the property yourself or leave it to a letting agent, you should get references from the potential tenant’s employer and previous landlords. A credit and ID check should also help to put your mind at rest.

Being a landlord needn’t be a chore

Getting used to being a landlord may take a while. If you find yourself suddenly thrown in at the deep end as a landlord, you will need to be aware of your responsibilities. You could use local letting agents to help you manage the property. However, if you decide to go it alone, using an online website to advertise your property will make it simple to find a tenant.

Right Time to Purchase

In common with the rest of Europe, the property market in Spain has been affected by the economic downturn. However, Spain remains the favourite destination in Europe for British buyers and property in Costa Blanca is still a popular choice and selling if the price is right.

The area will always be attractive to foreign visitors, due to its beautiful beaches, extensive tourist amenities and sunny climate. Its name means the White Coast and was coined by BEA in 1957, the year that flights began between London and Valencia. The region extends from Denia in the north to Torrevieja in the south and includes the major tourist destinations of Benidorm and Alicante. The Costa Blanca plays host to many hundreds of thousands of tourists every year and, of these, a significant proportion own a second property in the area, which they have bought for their own vacation/leisure use, as an investment or as rental income, or as a mixture of all three!

It is certainly a buyer's market at present, with many bargains available on property for sale in Costa Blanca. Official figures show that house prices have fallen in the region of three per cent but, in reality, reductions are far greater than this, with some developers offering discounts as much as forty per cent off, representing some of the best deals ever seen in the market. Villas in some developments which have been advertised for sale at 350,000 euros are now being snapped up for less than 250,000 euros. A wide choice of properties for sale is available in this part of Spain, ranging from beachside villas and town houses to more economical apartments. For even cheaper property, the less crowded outskirts of the surrounding cities should be considered.

When looking at property for sale in Costa Blanca, it is a good idea to visit the area in winter as well as summer, to see what it is like out of season. Some less populated areas can seem rather isolated in the cooler months. Check out the heating systems too! It is also advisable to "try before you buy"; in other words rent a few different villas and flats in different parts of the region before you commit yourself to buying. The Costa Blanca comprises a huge area of Spain and, as such, there are great differences between the various towns. Cheap flights are available during less popular times, with the most convenient airport based at Alicante. Do not limit yourself solely to estate agents in the immediate area, as national agents will also have plenty of properties for sale on their books. Check out the Web, as many agents as well as private sellers will advertise through this medium. Above all, take your time in finding the right property. There are plenty of good investments to be had on property in the Costa Blanca right now and you should not allow yourself to be pressurised.

Huntsville AL Homes

Homes For Sale Huntsville, AL: A Fun Time Utilizing These Simple Steps

Many people are overwhelmed by the entire home purchasing process, from selecting a lender, Realtor, the right location, and the right property. There is no need to make a mountain out of a mole hill when starting your home search. Use the following tips to make the buying experience a breeze.

The very first thing you should do before looking at the first home is to get with a mortgage lender and get a pre qualification done. The reasoning behind this is so you will know before you ever start your search how much house you can afford. All to often, people want to start looking at houses before they know for sure whether they qualify for the specific price range or not.

Once you are able to get with a lender and determine what your comfortable purchasing range is, you should move on to selecting a Realtor who will have your best interests in mind. All to often, people think they should go about their home search without the proper representation. The problem with this way of thinking is that most times the home they are buying has a Realtor involved who is looking out for the sellers best interests and not theirs. Unfortunately, people can get taken advantage of it they are not very familiar with the whole home shopping and purchasing process.

Next, once you have been pre approved and have decided on a Realtor, you should sit down with your agent and determine the criteria you want in home. The other, and probably most important consideration is choosing a location. You want to be in an area that is established with good schools, low crime, and some expected conveniences. To many people are price shopping for homes and don't think to consider that the market dictates home pricing and often a good deal may not be that because of the location.

Finally, you should make your home purchase decision based on common sense and not emotion. Emotional purchases often end up based as some things buyers wouldn't normally accept are overlooked because of their emotions. Be sure to base your final decision on logic based on your needs, budget, and the location of the property.

Tuesday, June 1, 2010

Solar Power-Hot Power

The hot topic nowadays around the globe is “scarcity of power”. As a country moves towards the peak of development, so is the demand of power. Reports show that there are many homes using electricity more than that used by a small industry! It is because, in the modern, digital lifestyle, each and every appliance like television, computers etc demands huge amount of electricity. However we live in a modern world and hence the usage of these power hungry appliances are inevitable.

The fact is that every positive improvement in the society will have a negative impact on natural resources. But in case of power, there are many alternate sources available in nature. Solar energy is a very good substitute for conventional power generation. The reason being, solar energy is clean, has no pollution effects and doesn't use any fossil fuels. The most interesting aspect being solar energy can be generated in home.

How about having your own power station on your roof? It is quite simple and beneficial by using solar power. To start with, solar water heaters can be used in homes instead of old conventional methods, thereby reducing your utility bills and also conserving natural resources like fossil fuels. The solar panels called the photovoltaic cells which can be conveniently placed on the roofs of homes converts sunlight directly into electricity. This electricity obtained by the conversion of sunlight meets all the home's electricity needs. “Hence it acts as your own power station. “Cool power from hot sun”.

A lot of people have tried the usage of solar power at home and found it beneficial and safe. The hot fact is that more than 10,000 homes in United States completely use solar energy to power up their homes. The ill fact is that enough sunlight falls on the Earth's surface every hour to meet the globe's energy demand for an entire year, but the same is not utilized and is wasted.

Still not convinced about the positive effects of solar power in home? By replacing conventional electric water heaters with solar water heaters, one can cut water bills up to 50 percent. And the important fact is, the price of photovoltaic cells, according to the department of energy has fallen by 200 percent in last 30 years. Don’t worry if your solar power unit generates more power than need for you. There are many utility power grids ready to buy the clean power for a higher price.

The bottom-line is, by installing a solar power generating unit in home, the home owner will never have to pay an electricity bill; instead he can become the supplier of clean electricity to the country and “save the Earth from energy crisis”

Allow Home Insurance

Dubai's buyers can finally decide to have a sigh of relief, since they can buy now properties insured against any structural damages. The buyers used to be left in lurch until today whenever any structural damage came to light after the properties were handover. They couldn't ask for any legal proceeding or compensation due to the lack of proper laws they had. But, the Real Estate Regulatory Authority (RERA) has finally decided to change this scenario, and introduced a new law which makes developers responsible for damages that might get noticed after the property had been handed over. The buyers will be free to approach the regulatory body whenever there seemed to be any breach of law taking place. Scores of Dubai apartments, furnished villas, hotels and Dubai hotel apartments will come under the purview of this new legislation.

Investors used to withdraw from projects earlier, citing the lack of insurance cover as a reason. Under the new law, however, the developer will be made answerable to courts for any sub-standard construction. For example, any serious wall cracks taking place within the first ten years of property handover, can amount to be a case for compensation. Additionally, any electrical, mechanical or plumbing related irregularities can also be challenged during the first year. Any irregularities in the construction of Dubai apartments, hotels, furnished villas or Dubai hotel apartments could not be challenged in the courts earlier, since there was no clear framework to do it.

In addition, this law adds more clarity about the issue of maintenance of buildings. Under the new directive, a Home Owner's Association (HOA) will be established for each jointly owned property and asked to look after the common areas, such as gyms, swimming pools, parking spaces, entrances etc. They will have to play the role of watch-dogs and see that the buyer's money was properly made use of. It is surprising that, only five percent of Dubai's households carry home insurance coverage, which is too few in numbers compared to what we may get to see from the countries like the USA, the UK, Australia or Japan.

The formation of HOA is key ingredient of this whole exercise. It will be required to maintain and be the beneficiary of the insurance cover in each case, while the constituent members, each having the ownership of one unit, will have to pay up the premium. Dubai may be a late entrant into this exercise, but it is expected to pursue it seriously now, and the buyers and promoters should be getting used to it now. The city needed to have it anyway, with so many high-end Dubai apartments, hotels, furnished villas and Dubai hotel apartments dotting its skyline.

Although, insurance cover is a basic necessity for any real estate buyer, people of Dubai did not shown any keenness about it in the past, may be, since most of them happened to be short term buyers. However, the introduction of the new law by RERA will change this scenario fundamentally, one hopes, and the awareness about property insurance will grow further. Dubai is as much known for its successful commerce, as for its shining real estate, which comprises of lavish hotels, shopping malls, Dubai apartments, villas and Dubai hotel apartments. The new property law by RERA will add more value to its real estate.

Quick Home Sale

You can stop repossession with a quick home sale. Repossession is often in the news and more and more people are affected. When you miss mortgage payments, financial difficulty is not far behind. When lenders write and ask you to get in touch, sometimes it seems easier to ignore the letters. Even if you respond, you may not be able to agree on a deal. It's a stressful time, and figuring out how to stop repossession can affect your life and health.

You may not realise it, but you can stop repossession of your house even after proceedings have begun. It's better to do this before you end up in court and there's one sure way to save the situation. Stop repossession with a quick home sale. When you sell your home, you will get the cash you need to repay your debts and your credit rating will remain intact. That means that you have a better chance of getting a mortgage in the future. Making ends meet and talking to lenders can cause great stress. You can end that when you stop repossession with a quick home sale.

Will an open market sale help me stop repossession?
When you use an estate agent to sell your home, then you will probably get a good offer on your home, but how long will it take to get the cash you need? There are no guarantees about the completion date and if there's a property chain you could find yourself without a buyer. How will you stop repossession of your house then? If you need to stop repossession with a quick home sale, then there is a better option.

I need to sell my house fast
Call St Genix Fast House Buyers on 0800 316 7600 to stop repossession with a quick home sale. We are experts in fast house sales and will buy direct, for cash. That means that you get a quick, guaranteed sale. With a sale to St Genix, you get:

A guaranteed sale within four weeks
No need to pay an estate agent
Lower legal fees
A fast way to stop repossession

We promise to complete the purchase of your home within a month. We can do the deal more quickly or more slowly if you need us to. We are happy to work to your timetable so that you can repay your debt when you need to. You don't even need to leave home.

How can I stay at home when I sell my house fast

If you are concerned about how to stop repossession, then you don't need any additional worry. If you sell to an estate agent, you have to move out on completion date. When you sell to us, you don't have to be homeless. You can decide if you want to stay in your home. Just ask about our rent back arrangement. You can rent your home at a fair market figure and avoid unnecessary expense and stressful disruptions.

St Genix Fast House Buyers have expertise in helping clients to stop repossession with a quick home sale. We will buy your property and complete the sale within a month. For a free valuation, call us now on 0800 316 7600