Top Tips for You When You Are Dealing in Property and Real Estate

Dealing in property or real estate is one of the most important decisions in your life. For many of the people this may be once in a life time decision when they want to own a new home for their family. It is therefore important that you keep you every step safe when you are dealing in real estate or any property.

In the time of financial crisis it is very much crucial for everyone to keep themselves on the safe side before they plan to invest in property. There are many of the things that you should keep in mind before going further.

• First of all it is very important for you that you look and examine the property carefully before buying it out. You should never pay any money before visiting the property you are purchasing. You should know what you are getting and what it is worth for.

• Then you should get an idea about the cost of the property. Different real estate properties are available at different rates which mainly depend on various factors. The location is one of the most important factors which decide the value of any property. You should get the idea about it.

• Many of the sellers may increase the cost of the property simply because it's an old one. But the old property does not necessarily mean that it is right for you and you should look carefully about the advantage of getting it at the right price.

• Then it is ms for you that you hire a professional and expert in the field. It is important that you do all the necessary paper work and other legal work after consulting a real estate agent. With their help you will reduce the chances of being scammed and you can get the best deal you are looking for.

Earnest Money and Real Estate Transactions

First-time homebuyers and those that haven't purchased a home for many years are often surprised at how important earnest money in negotiating the purchase or sale of a home. What changed is the prices of today's homes and the old saying give us a thousand dollars and see you at closing is really outdated. Would you take a home you've been actively marketing for ninety days off market for four hundred thousand dollars, for a thousand? No, and you shouldn't. Here are the ins and outs of earnest money and a couple of related experiences.

-Earnest money deposit: The money given to the seller at the time the offer is made as a sign of the buyer's good faith.

-Earnest money amounts vary, but here are some guidelines. 5-10% of contract price is typical. Flat amounts like $5,00 or $10,000 also work.

-Most states require that real estate brokerages now pay interest on earnest monies over a certain amount, here it's $5,000. You will have to fill out a W-9 though to receive interest. Brokers can't co-mingle earnest monies funds with their business, it needs to go into an escrow account.

-Escrow accounts. Require all deposits you make go into an escrow account. Research state brokerage laws to discover what regulations brokerages must follow with buyers funds.

-All earnest money checks should be made out to a real estate brokerage, not a person.

-Require that you receive a receipt for all earnest monies delivered to a real estate agent or brokerage. This should include a copy of the check on the brokerage letterhead and a signature of person accepting delivery, date and location check was received.

-If the earnest money system is a two-step, with an initial deposit and than a balance, make sure the second one is not delivered until after the attorney and inspection approval period have come to a successful conclusion.

-A quick closing date requires certified checks for earnest money. Many a delay in closing has occurred when buyers earnest money checks bounced. If you're closing soon, utilize certified funds.

-The buyer ripped to shreds inches from my face his earnest money check. We looked at over a hundred and fifty homes, it was grueling. I couldn't screw up, this relocating CEO was bringing another two hundred employees, and our firm would be finding them homes too. The problem was that the husband wanted traditional and the wife wanted contemporary, and eventually as their feud escalated, I counseled that it wasn't the inventory, it was their relationship that was creating the barrier to agreeing on a home. So finally he gave in and we put together an offer, including his $100.000 earnest money deposit, except he sabotaged it with an unusually low price and wouldn't move off of it. We lost the house and I met them in my office to return their check. As I was delivering the check back to him, I said that maybe they needed a fresh perspective in their home search and that I would find them a new agent. He got up and took the check and inches from my face tore it up dramatically, with the pieces falling down to the conference room table.

-The huge but lost earnest money check. I was representing young, wealthy newlyweds in the purchase of a very, very, very upper-bracket home. The husband was a principal in a investment banking firm, and audited his money market accounts hourly, 24/7. After negotiating a successful contract on their dream home, the husband delivered an earnest money check for a half-a-million-dollars. I in turn delivered it to the listing agent, as is the custom. A week went by and my banker-buyer called and said the check had not been presented against his account. I queried the whereabouts of the check with the selling agent. She said that it should go through any day, sit tight. Three weeks went by and my buyer called again, still no check had been presented. I called again, um, yes she found the check, I never new it was lost. Don't tell anyone, but my cleaning lady found it behind the sofa in my family room.

Economy and Real Estate Conditions in the Richmond Virginia Area

It has been the best time ever to buy real estate. Mortgage interest rates have been lower than 5%, real home prices are low, and sellers are motivated. To make things better, the government has offered huge incentives to buy a home. First time buyers get $8,000 in tax credits when buying a house.

The government incentives have had an influence. First time home buyers include about 45% of real estate transactions. In Virginia, we've also seen a large increase in the purchase of new construction homes.

Despite these favorable buying conditions, Richmond home sales have been down. Last month, Chester (a Richmond suburb) home sales were down considerably compared with May of last year. Powhatan trends also show a remarkable decline from last year.

Why is it that home sales are down even though purchasing real estate is so advantageous? People can't buy because they can't sell their current homes, they have no equity, no down payment, and can't get mortgage financing, or they just don't feel certain with their job stability.

Some of the government incentives have concluded. The sub 5% interest rates have increased to around the 6% range. A one percent increase in interest rates is a huge deal for housing affordability. A $150,000 home loan at 6% is around $100 a month more than at 5%.

What will happen when the government incentives end? It's difficult to say. The economy and housing market do show signs of recovery, but it looks like the Richmond Real Estate market won't greatly improve in the near-distant future.

The Online Finance And Real Estate In India

Finance for real estate is now easily available in India. The property boom is not restricted to the national capital region but it has even transcended to satellite towns and remote semi-urban areas in and around the national capital. The number of transactions in the real estate sector has increased a number of times, making it profitable for the banks and other lending institutions to offer more finance opportunities to the buyers.

In India, the most of the borrowers in home loan segment fall in the first time buyer category. It means that they are either tenants or living with their parents in their ancestral house. As the salaried-class is spreading and emerging stronger than ever, more and more people are becoming capable of buying house. Their need to get finance from banks is being taken care of by all the major players in the market. Banks like ICICI, Standard Chartered, HDFC and all the nationalized banks are offering home loans at attractive rates.

The procedure for taking a home loan is rather easy. You can directly approach the bank or call for a meeting to be arranged with the bank's loan executive. This can also be done over the Internet. The banks may ask for various proofs like those related to your residence, income, spouse's income, number of dependants, etc. Based on a number of parameters, the banks arrive at your credit rating and offer you varying amount of loans.

Home loans in India come in various forms inviting fixed interest rate or floating interest rates. There are hybrid loans also that are a middle path between fixed and floating options. The borrower can put a part of his loan amount under fixed rate and expose the other part to the floating rates that depend on market conditions and the interventions by the Reserve Bank of India.

The Internet as a medium of loan arrangement is fast catching up in India. Many websites are coming up that take care of individual and corporate finance for various purposes like buying real estate, investments, business operations, etc. This medium of finance is growing rapidly although it is surely in its nascent age as far as the Indian market is concerned.

Vancouver BC Canada Housing Market and Real Estate - Still Viable

There are four main reasons for this assessment.

The first of these is that British Columbia is enjoying period of unprecedented growth and prosperity. This period of economic prosperity forms the bedrock upon which the Vancouver housing market can consolidate its position.

In the February 20,2007 Budget and Fiscal Plan for 2007/08-2009/10 which was released by the Ministry of Finance , the outlook for the BC economy in general and the Real Estate Market in particular, is exceptionally bright.

The second item to consider is the influx of immigration that is expected to flood into British Columbia the years leading up to the BC Olympic Games. The Council projected that "total net migration" to British Columbia would continue to rise to unprecedented levels. In 2007 alone, projections averaged from a "low of 35,423 people to a high of 55,000 people". The general expectation is that this trend will continue in to increase in the coming years with the anticipation that "total net migration to average about 47,000 people in 2008, rising to over 50,000 through the 2009 to 2011 period".

The third area of consideration is the inflation of the Canadian Dollar and its effects on interest rates and the Real Estate Market. The expectation is that Bank of Canada will raise interest rates an average of "4.08 per cent" in 2007. Over the long term the rates should hold fairly steady or even come down slightly. The "Council's forecasts for the Bank of Canada's overnight target rate averaged 4.13 per cent in 2008, falling to 4.01 per cent over the 2009 to 2011 period".

The last piece of information needed to navigate in the complex Real Estate Market, is the forecast for Real Estate Market movement in British Columbia and its implications for you as a home-buyer. The news is good, according to the bi-annual press release published by The British Columbia Real Estate Association (BCREA). In the Housing Forecast Report, Cameron Muir, BCREA Chief Economist gives us this insight, "The market has shifted away from strong sellers' conditions and is expected to operate in a band between a strong balanced and weak sellers' market over the forecast horizon.

The Dow is Down, Economy is Bad and Real Estate is Dead

Yes, the Dow is plunging lower and lower every day and yes people are losing money and investments left and right, but the real estate market is not dead. When it comes to buying and selling real estate, the lower the Dow falls the lower the home prices fall and the better deal a home buyer can find on the market.

While there may be a bit of trouble finding mortgage financing for home buyers with less than stellar credit scores, the mortgage market for buyers with above average credit ratings is fairly unchanged, aside from the huge price reductions that is. The home prices all over the United States are falling at a rate faster than ever before and those potential home buyers who were waiting for the perfect deal are primed to buy, buy, buy.

In order to make the sale and make it fast, the real estate agent needs to understand that the market is full right now of available homes. Never has the cliché phrase, "It s buyer's market!" ever been so true. So what do you need to do to sell a home when there are hundreds just like the ones you are showing within a small mileage radius, offer the buyer more!

Real estate agent package deals are a great way to boost your home sales. Many people are buying right now for investment purposes only. Offering the home buyer a free rental listing with your real estate group, a free rental open house or some other FREE service is one way to stand out among the other home sellers. With so many available homes on the market it is hard to find that inside track without offering something for nothing.

In the long run, the real estate agent that offers the best services to the home buying client will be the one that closes the sale. The dropping DOW, the dropping bank account balances and the increasing home inventory means thinking in a unique and FREE way in order to sell a home.

Fort Lauderdale Homes: Affordable Real Estate Options Within A World-Class Tourist Destination

Fort Lauderdale homes are considered to be one of the most outstanding real estate options for people within South Florida today. The simple fact that these real estate options are found within such a popular tourist attraction makes these homes highly ideal, especially for individuals who appreciate the value of living within one of the region's most well-established waterfront communities.

The city of Fort Lauderdale is located within Broward County. It has become more popular over the years because of the fact that millions of tourists come to visit the city each year to experience the unique way of living that it has to offer to people from all around the world. In fact, the city has become known as the "Venice of America" because of its intricate waterways which run throughout the perimeter of the city.

More often than not, property buyers are easily drawn to the idea of being able to experience waterfront living which is definitely a great option to consider within South Florida. If you happen to be someone who is still unsure about whether Fort Lauderdale homes are going to be suitable for you, you may want to consider the benefits of being able to live within a world-class tourist destination where fabulous home properties can be purchased for affordable prices.

World-Class Tourist Destination

Living within a world-class tourist attraction brings about several benefits such as being able to indulge in the daily experience of the city's tropical climate conditions while being able to live within close proximity to all the events and activities which would normally take tourists hours to experience.

Aside from the sights that are offered within the city, the fact that there are numerous bars, pubs, clubs, and beaches makes it an exciting location for people of all ages. If you are fond of yachts and other boats, you will definitely love being in town for the annual international boat show which showcases the most amazing luxury yachts that are found within the region today.

Furthermore, if you happen to be someone who would like to consider the option of investing in real estate, you are sure to find that Fort Lauderdale homes are one of the region's most highly recommended investment options within South Florida today, especially since there is a very high demand for rental properties during its peak seasons of the year.

Affordable Real Estate Options

When it comes to the aspect of affordability, you simply can't go wrong by choosing to purchase Fort Lauderdale homes. As of September 2012, the median sales price for Fort Lauderdale homes was $185,500. A four-bedroom home within the city can cost around $281,000 while a one-bedroom home can cost as low as $125,000.

If you would like to find out more information regarding the options that are currently available to you on the property market, you are encouraged to get in touch with a real estate agent that specializes in Fort Lauderdale real estate for further details.