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Buying A Home At Auction
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Buying A Home At Auction

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 What You Need to know about buying a home at auction

Many homebuyers are not acquitted with how real estate auctions work. Obtaining property through auction is more exciting than the conventional route, for those interested in venturing into real estate. Given the live auctions and online auctions, real estate buyers have more opportunities to venture into this industry.

Many people have euphoria of getting the best deal from an auction venture. However, this only happens occasionally. It is prudent to learn the ropes of auctioneering process to avoid making grievous investment mistakes. Fortunately learning about the auctioneering process is much easier, is one becomes more focused on the finer details.

There are higher chances of landing into long-term and profitable real estate investments through auction process. This can only be accomplished if you get your cards right about auction.

What You Need to Know About Real Estate Auctions

Many of the properties sold through auctions are usually foreclosures, where the lenders aspire to get as much as they can from the sale after the borrower defaults. They can conveniently accomplish this through auction. It also offers better opportunities for keen investors. However, as a buyer you will need to approach the auction process with due diligence.

The following are things you need to know when buying properties at the auction:

Live Auctions

Despite online auctions becoming more popular, live auctions are still preferred by some investors. Live real estate property for sale  Auctions are usually held in public places like the hotel ballroom or in the county courthouse. They usually require an individual to appear in person in order to bid. There are also occasions when the bidding will take place on the actual property.

Live auctions are usually open for anyone to attend. However, you will be required to register to participate in the bidding and be required to demonstrate your financial capability to the auctioneer.

Online Auctions

Online auctions are preferred by many investors because they are more convenient. An individual can easily bid from any locality within a specified. Investors can easily participate in various bids at a go including; bank owned properties, non-distressed homes or commercial properties.

For a successive online bidding:

  • Register For The Auction

 You will be required to register, by making a commitment through payment of refundable deposits. Normally you can provide your credit card information and make the refundable deposit if you fail to win the auction.

  • Research The Auction Thoroughly

 Online auction sites will provide essential information concerning the property you are interested in or the rules of engagement governing the site. It is advisable to acquit yourself with this information before participating in the auction.

 It is prudent to seek for extra information outside the site, by engaging a real estate agent who can research on the property and complete title search. Since Realtors make commissions from online auctions, they can gladly assist.

  • Get Your Financial Documentation In Order

 Ensure you put all your financial documentation in order, to allow you to make prompt payment after winning the bid, which includes earnest money deposit.

First Time Home Buyer
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First Time Home Buyer Services Available in Chicago Illinois

There are a number of first-time home buyer special financing and grant opportunities available in the United States and in particular Chicago, Illinois where the city has special incentives available for new home buyers. Don’t be misled by the term. The tendency to think of a first time homeowner is to think of someone who has never owned a home previously. This is incorrect. According to the Department of Housing and Urban Development new home owners also include anyone who hasn’t owned a home in 3 years or more, a single parent who may have previously owned a home with their spouse, anyone who may have owed a property without a permanent foundation, such as a mobile home or trailer, or a divorced spouse who does not receive alimony or support even though they may have previously owned a home together. These definitions open the door to millions of Americans to take advantage of government home buying programs.

Advantages exist for financing for first time home owners through a number of federal subsidy programs. For example, the typical mortgage loan asks for a 10-20% down payment. For a $200,000 property purchase this amounts to $20,000-$40,000 down payment to obtain a loan. FHA government backed loans offer a guaranteed 3.5% down payment if you have a 580 FICO credit score or higher and 10% if your credit score is as low as 500. Private Mortgage Insurance (PMI) will be required to protect the lender in case of default. Imagine only putting $7,000 down on a $200,000 home.

Besides the lower initial up front payments, FHA approved loans often offer lower interest rates that a person with a high credit score would receive on a conventional loan, saving thousands of dollars over the term of the loan. Another benefit is that FHA loans allow the seller to pay up to 6% of the selling price towards escrow costs. Conventional loans only allow up to 3%. It is no wonder that 1.2 million Americans used FHA guaranteed loans for home purchases last year.

The City of Chicago offers a program for First Time Home Buyer Services Chicago Il for qualified buyers who must attend an 8 hour home buyer education class. The program offers up to 7% of the loan amount to eligible participants. The actual amount is based on the buyers income. Buyers must use eligible lenders to participate in one of two lending programs, either federal government backed FHA, VA or USDA borrowers with annual incomes less than $88,435 and FICO scores of at least 580. or Freddie Mae/Fannie Mac borrowers with credit scores of at least 640 and annual income no greater than $131,775. All eligible borrowers must contribute $1,000 or 1% of the purchase price, whichever is less, to the property purchase.

As you can see the opportunities to buy a new home exist at great savings when you utilize programs offered through government and private programs. Take advantage of services available to you. Ask your Realtor for assistance. They want to put you into your own home.

Buy or Sell Your Commercial Real Estate
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Why Buy or Sell Your Commercial Real Estate Online

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Buying or selling commercial real estate has always been a bit of a hassle even when you hire an amazing agent who understands the process and can walk you through it. While residential customers have long had the option to list their property online, commercial customers have not had this luxury, which results in a lot of time and energy spent meeting with an agent, discussing terms, sending over paperwork, and dealing with negotiations. Being able to complete all of this work online relieves a lot of the stress that is associated with buying and selling commercial real estate, allows the transactions and negotiations to happen more quickly, and offers plenty of support to the individual parties throughout the process without the hassle of dealing with an agent in person.

Save Time

Busy business owners don’t have the luxury of lots of spare time and this means that they don’t want to be spending all of their free time trying to get in touch with agents, waiting on a call back, or meeting with them to discuss buying or selling property. Being able to list your property or search for new property online means that you can do it from the comfort of your home or office and during your downtime. Instead of having to schedule yet another meeting, it’s easy to create an account, register, and start your search or begin your listing whenever you have a few minutes that you can spare.

Get Seen Quickly

When you work with an expert online company such as Virtual Commercial Ltd, you can rest easy that your property will be listed on all of the top property portals in the UK. This eliminates any fear that you may have about whether or not buyers will be able to locate your property and if it will show up in online searches. Exposure is very important when you are going to be selling your property and you want to make sure that it is seen by as many potential buyers as possible.

Enjoy Your Options

For buyers, looking online and working with a reputable company allows them to quickly view all available property that meets their search criteria without wasting a lot of time. Having all of the information in one place ensures that buyers won’t ever miss a great property that comes on the market, no matter where it is listed.

It’s time to make buying and selling commercial real estate easier and reputable online companies are leading the way in making this possible. Instead of wasting your time and energy and spending long hours working with an agent, working online when buying or selling commercial property is fast and easy and will ensure that the whole process goes smoothly.

Buying Homes
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Interesting Reasons Why Millennials Prefer Renting over Buying Homes

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Of late, you have probably been inundated with news and interesting tidbits about Millennials. In fact, almost everything is all about Millennials. Have you ever wondered why this is? Actually, there is no secret involved. The fact is, the earliest-born Millennials are just approaching middle age and as such, they are the up-and-coming generation with spending power – and a lot of it! With that being said, wouldn’t you imagine that they would then want to invest in homes? Statistics indicate otherwise. There are several interesting reasons why Millennials prefer renting over buying homes and here are a few for you to ponder.

A Generation That Learned from the Mistakes of Their Parents

As you begin delving into what Millennials are all about, there seems to be one common thread. This generation watched their parents lose their proverbial shirts during the Great Recession and are now committed to being unencumbered by possessions and debt. Sure, Millennials seek to earn high incomes, but they don’t want to sink their money into ‘things’ they could lose at the drop of a hat. Millennials certainly don’t like mortgages for this very reason.

Instead of buying a house they might lose if the economy bottoms out, they prefer luxury living such as they would experience in Omaha, Nebraska at Torrey Pines Apartments. With fireplaces, beautifully clean grounds, and an awesome pool, who could ask for more? And, if another, even greater Great Recession hits, they won’t lose a major investment if real estate suddenly takes a nosedive like it did in 2008.

Travel Is a Top Priority

This is a generation that wants to experience more in life. Instead of investing in homes, which is the biggest investment most people make, Millennials would rather spend their money doing things that make them happy. It’s a bit reminiscent of Liberation Theology where they want to “be more, not have more.”

Millennials want to see more of the world (wanderlust) than any generation before them. As the first generation of the digital age, Millennials have become part of a global mentality and so they want to personally see the world they’ve been introduced to online through social media.

Millennials Seek an Unencumbered Lifestyle

Because this generation loves to travel, they want an unencumbered lifestyle. Many Millennials are waiting longer to get married and some are avoiding that commitment altogether. If they travel, and they most certainly will, Millennials don’t want a house to secure while they may be gone for extended periods of time. That is all taken care of for them by apartment security and maintenance crews in their absence.

Perhaps the one big expense Millennials will commit to would be their vehicles. Never before have you seen so many late model vehicles on the road at any one time and it certainly isn’t because prices have dropped! Millennials want to get around town almost as much as they like to travel, so a reliable and sporty vehicle is an absolute must.

One Key Takeaway

This leads us to the conclusion that if you are a real estate investor, or investment group, your capital would probably be best placed in eco-friendly apartment complexes. Why eco-friendly? That’s one thing not mentioned above. Millennials are the one generation with a huge concern for the planet and will gladly pay top dollar for an apartment with green energy, sustainable building materials and landscaping.

If you want to cater to the generation with money to spend, sustainable apartment complexes are the way to go. Get it right and you’ll be filled to capacity with Millennials who can afford the cost. How’s that for maxing out your ROI?

buying property
Buy & Sell,

Things to remember before buying property in Berlin

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In case you’re hoping to put resources into international property, you couldn’t have a better place to invest than Germany.

Europe’s biggest economy is additionally its greatest private purchase-to-let market, where the prominence of leasing has prompted one of the world’s most cheapest home possession rates.

The nation’s steady political and monetary condition likewise make it a protected prospect for speculation. Germany’s two biggest urban areas, Berlin and Hamburg, were as of late named by international consulting and auditing firm PricewaterhouseCoopers as the best two urban cities in Europe for investment in 2017.

Purchasing property in Germany implies you’ll profit by the full assurance of German law. Be that as it may, that can likewise mean a great deal of paperwork.

Do you require a legal counselor?

German law is very much developed and complex, particularly as laws can change contingent upon where you are in the Federal Republic.

Construction standards, assess rates and different conventions can fluctuate over the 16 Bundesländer (federal states), however it’s not simply understanding these laws that makes legitimate help important.

The lawful framework likewise makes broad utilization of notarisation. All agreements to purchase and offer land in Germany should be notarised, regardless of whether you’re purchasing property or consenting to an improvement arrangement.

What laws do you have to know?

In case you’re purchasing private property in Germany, these are probably the most essential tenets to know about.

Full freehold title – this is the most widely recognized type of estate ownership, which incorporates condominiums (Wohnungseigentum). After you buy a property, its proprietorship won’t be exchanged until the point when it’s gone into the land enroll. This procedure can be extensive, amid which your rights will be secured by a need take note.

German tenancy law – on the off chance that you purchase an investment property that has existing inhabitants, their present rent game plan will proceed, with you as the landowner. Most rental contracts are gone into for a boundless time, which means lease modifications are normal after an adequate period. Be that as it may, any progressions to the rent plan need normal assent between the landowner and the inhabitant.

Rights of termination– on the off chance that you end a contract, you have to give inhabitants a notice time of no less than three months, contingent upon the length of your rental relationship. You likewise need to refer to great purpose, which can incorporate you or a relative moving into the property or the occupant having broken their agreement.

What charges do you have to pay?

Property in Germany is liable to land charge, which is imposed yearly. Contingent upon your conditions, you may likewise be liable to pay assess earned from the property, capital additions expense or land exchange charge.

It’s suggested you look for proficient assessment guidance before seeking Apartments for sale Berlin, Germany, particularly as expense rates change between states.

Searching for a townhouse in Berlin?

In case you’re anxious to venture out the German property ladder , plenty of condos are currently accessible in Berlin. You may buy in Luisenpark – situated on the fringe of Mitte and Kreuzberg close to the IT Tech center of Berlin and colleges.

Buying a Property
Buy & Sell,

Buying a Property in Bangkok Thailand: House or Condo Options

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For the same price as a Luxury Condominium in Bangkok, people can buy a house and land which provides both comfort and a long term investment, however this is not always possible. Foreigners in Thailand can own only apartments and all the money required to buy an apartment must come from abroad in foreign currency. The buyer must also obtain a Tor Tor 3 certificate from the receiving bank which he will have to show the land dept before transfer of title. It is advisable to consult your Bank Manager or lawyer before transfering any funds.

Double Townhouse near Victory Monument

This Double Townhouse is located near Victory Monument and Din Dang Expressway, approx 700 meters inside Rajvithi 2, which is a Soi off Rajvithi Road. BTS is about 15 minutes walking distance away, and tuk tuks go up and down the soi to make the journey easy, but you can enjoy the walk if the traffic is ever at a standstill.

On entering the compound you feel you have been transformed into a peaceful area in a quiet suburb. The house is in a secure gated compound with tall entrance gates, where some families live within their own homes. There is covered parking for 2 cars under the house carport.

Fully furnished to make life comfortable

The property is on 60 Square Wah or 240 Square meters of grounds, On entering the house via the center carport you have a distinct left and right wing to the house, on the right is a living room, and on the left is a dining room, both are very large with ceiling to floor glass windows which makes the property very bright. (See Pictures below)

There are four bedrooms, 2 bathrooms, guest bathroom, maids quarters, kitchen and wash room area, 2 storage rooms, Fully furnished and air conditioned with 2 direct Telephone lines. Viewing essential Rent 45.000/Month.

Executive Entertainment Home for Sale – Nichada Thani! opposite community swimming Pool. State of Art Home Theatre Room, 10 Million Baht invested in Fixtures Furniture and Equipment.

For Sale Executive Entertainment Home, Nichada Thani – ISB Bangkok! opposite community swiming Pool. State of Art Home Theatre Room with 5 million baht in equipment and furnishing. Entertainment Room – pool table, wet bar, built in 2,000 liter aquarium, second home theater entertainment center.

Extra large open dining room built for entertaining with buffet wet bar, open garden views, large crystal chandelier. Family bonus room – with pantry wet bar. Kitchen with dining area, outside Thai kitchen, laundry, maid’s quarters.

Three children’s bedrooms, each with private bathroom. Large Master bedroom with large closets, large bathroom with large raised Jacuzzi surrounded by pillars, glass ceiling and chandelier. Professional landscaping with waterfall and fish pond. Built in sound system indoors and out, light management with Lutron programmed lighting,

16 line PBX phone system plus three dedicated office lines, electrical upgrade, emergency lighting, German lighting fixtures, door and lighting fixtures upgraded, two UBC dishes.

First floor Marble floors, second floor wood, Wall papered and drapes throughout including ceiling Land 215 Sq wah, (860 Sq metres) Living space inside 740 Sq meters. House was built approximately 3 years ago.

Sale Price 30,000,000 baht, Rental 240,000 per Month.

Buying a Home
Buy & Sell,

Benefits of Buying a Home in Austin

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Purchasing a house is no easy feat; it requires patience, money, and plenty of careful planning. In 2017, the city of Austin made it on Forbes “Cities of the Future” list, which is why nearly 1 million people call it home. If you’re looking for any hill country homes austin tx has plenty of realtors who can help you find your dream house. Here are some of the advantages of living in Austin, Texas.

Low Cost of Living

A lower cost of living is one of the benefits of living in Austin. The city’s cost of living is below the national average, not to mention has a higher employment ratio. Austin was named the fifth most affordable city in the United States and was ranked by Yahoo as one of the best cities for higher pay and lower expenses. Buying a house in Austin will usually cost you anywhere between $70k and $100k, which all depends on the area you choose to live in. Suburbs such as Thorndale, Liberty Hill, and Hutto have plenty of affordable housing, where an average home will usually run you slightly over $75k, which is significantly cheaper than living in Smithville or Taylor, where the median home value is well above $100k. If you’re a young professional who just graduated college, Austin is the perfect place for purchasing real estate and unlike the rest of America; its real estate market retained its value after the housing bubble crashed.

The Greenest City in the United States

According to Shape Magazine, Austin is one of the fittest cities in America and the greenest city in Texas. The city is dedicated to becoming cleaner and more energy efficient, which is why Austin made the countries, “cleantech city” top ten list. The city has long embraced cleaner forms of energy including, wind power, geothermal heat, and solar energy, while they continue to work with local businesses and residents in utilizing more green energy and creating a more sustainable planet.

Hot Weather

If you’re a person who dreads the winter and wishes it would stay summer all year round, then Austin is the perfect place for you. During the summer, temperatures can reach 105 degrees, which is nearly 80 percent humidity. Living in Austin can actually help you stay fit, from kayaking, paddle boating, biking, and hiking; there is an endless amount of outdoor activities to enjoy.

Delicious Food

Austin is home to a plethora of different restaurants, diners, food trucks, and cafes. The city is considered one of the most food-friendly places in Texas, which has more than 1,400 mobile food vendors, including Way South Philly, Easy Side King, Torchy’s Tacos, and La Barbecue. The city also features a variety of different delicious craft breweries, which includes 512 Brewing Company, Lazarus Brewery, and Jester King Brewery.

Festivals, Festivals, and more Festivals

When it comes to festivals, no one does it better than Austin. The city is known for its music festivals and bustling nightlife, for which they were awarded the title “Best NightLife Scene in the United States” by USNews. The city hosts a variety of different festivals including Formula 1, Austin Film Festival, Austin City Limits, and of course South by Southwest.