Selling Property without A Real Estate Agent

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I am going to sell my property without an agent. This refrain is being heard more and more these days as the Internet and real estate market evolves beyond the realtor-based transaction.

FSBO is an acronym meaning for sale by owner. The advantages of selling as a FSBO are numerous. With real estate commissions of six percent, you are looking at immediately saving tens of thousands of dollars in commissions. If for some reason this does not entice you, keep in mind you can use the savings to undercut the prices of similar homes in your area. This will move your house quickly off the market and let you get on with your life.

The key to selling your property is to be prepared. First, you need to find out the value of the property by looking at comparables in your area or trying an online valuation service. Once you have the value in mind, you need to determine whether this is acceptable. You also need to determine what you are really willing to accept as a sales price once haggling is completed. Always make sure you know your bottom line and stick to it.

The next step is list the property online on a FSBO site. Over 70 percent of homebuyers now find their properties online as the realize there is no need to endlessly drive around looking at homes that they may or may not be interested in. By going online, they can see what each home offers and then visit the appropriate property.

Given the use of the Internet by buyers, it is vital that you spend the time to upload pictures with your listings. You are only going to generate interest if the buyers can actually see the property. Every site allows you to upload digital photos and you should do so. Take care to show as much of the property as possible so that you can generate leads that are truly interested in buying.

Sellers wonder if they are correct to think they can sell their property without a realtor. With the Internet revolution, it is easy to do so and save tons of money on commissions.

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Source by Raynor James

App Development For Property Sales: A Complete Guide To Grow Your Real-Estate Business

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None can deny the necessity of mobile apps in our lives. While no business sector has remained aloof from the rage of mobile app development, it is on-demand services, food and retail, and core industry like real-estate which got more share of the pie. Yes, it’s also the retail property businesses that got more benefits in sales after the app revolution and saw their revenue growing high. In regards to this, here is a complete guide on how to make your own real-estate dealings mobile with a useful app.

Trends observed in property purchases

-Most buyers first sneak through the web or online portals to search for property searches before going for other sources like paper advertisements, referrals, etc.

-Millennials rely more on online search for nitty-gritty details or information about a property

-People like to hunt for properties online because they can see a large number of properties.

Types of Real-estate app solutions

-Online property search application

-Property booking solution

-App solution for renting apartments

-Property management solution for owners

While these are the specific apps that can help real-estate business owners as well as buyers, let’s take a look at the key features that an app meant to help rent and property seekers should have.

Direct marketing method

The app should have a direct approach to marketing to promote the properties held by the property owner. The app would list the properties in a fancy manner with location, prices, property aspects, surrounding amenities, landmark, and other related information. In short, the app should be able to showcase all properties in a complacent and clarified manner so that buyers can know every minute thing about a property and can take the decision to choose one smoothly.

Support for location-tracking

Mobile users have been so used to the aspect of GPS or Global Positioning System to navigate here and here that you need to sync your real-estate mobile app to the Google Map to help the property seekers. Integrating the app with geolocation will readily help the buyers to land on the phone’s Google map to know the exact route and convenient mode of transport to the property’s location.

Easy-to-use user interface

You need to keep in mind that a real-estate application is not about showing brilliance and classy design, but is about user-friendliness. Thus, like any other user-centric applications such as eCommerce, online cab services booking, your app should be user-friendly so that users could easily understand how to search for a property. Easy user-interface of an app means quick property search, responsive search filter, hassle-free payments and saving favourites or wishlist.

Scope for customers to place queries

Lastly, do not rule out the need for an online enquiry mechanism in the app like live chat or email integration. It is a must-have for quickly responding to customers who are interested in a property and wish to know more apart from what provided in the app. They might want to talk to the seller directly.

Real-estates is the large and flourishing industry and to get a grip over its every potential you need a mobile app too. It would help your business make more revenue and grow by making your properties more easily accessible to prospective customers. However, make sure to keep in mind the mentioned features while you have your app crafted by an app development company.

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Source by Rob Stephen

Some Financial Aspects of Property and Real Estate Investments

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Property or real estates are not considered to be really liquid investment instruments since individual properties or real estates are not interchangeable. Therefore identifying land or real estate in which to invest can take a pretty high amount of time and efforts and much depends on how familiar the investors might become with the particular segment of the market corresponding to their interests. Real estate or land investors often use a variety of appraisal methods to make their lives a bit easier, by means of price comparison. The sources of information relative to prices may include: public auctions, private sales, public agencies, market listings or real estate agents.

Real estate or land assets are much more expensive than bonds or stocks. Therefore investors most often avail themselves of a mortgage loan that can be collateralized by the land or real estate itself. Accordingly we usually use the terms *equity* or *leverage* with reference to the money paid by the investor as opposed to the amount lent by the bank. Their ratio is called Loan-to-Value (LTV) which is considered to represent the risk taken by the investor. Most banks regard 20% of the appraised value as a minimum equity requirement. Quite a number of pension funds and REITs, or Real Estate Investment Trusts, regularly purchase land or real estate with *zero* leverage thereby minimizing their risks, but capping their Return-On-Investment (ROI) as well.

If the purchase of the land or real estate is leveraged, the necessary monthly instalments or “carry costs” might create a negative cash flow for the investor right away after purchase. In addition to possible positive cash flow elements such as those generated by depreciation, equity buildup and capital appreciation, investors might also partially or entirely offset the “carry costs” by means of the so-called Net Operating Income, or NOI. This technical term typically means *rents less expenses* and in countries other than the US it is often referred to as Net Cash Flow. The ratio *NOI/purchase price* is called the Capitalization Rate. It indirectly indicates in how many years the property or real estate will pay for itself in an interest-free financial environment.

E.g. if an investor has purchased a piece of land or real estate for $ 800,000 which generates a positive Net Operating Income of $ 40,000 annually, then the Capitalization Rate of the property is 5%. It shows the investor that the land property or real estate will pay for itself in 20 years in terms of net cash flows.

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Source by B Lakatos

Make Easy Money Online: Become a Commercial Real Estate Property Scout

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There are lots of ways to make easy money online. I am sure you have seen many of them in your email inbox.

One opportunity you may not be aware of is becoming a Commercial Real Estate Property Scout.

What’s a Commercial Real Estate Property Scout?

It’s a person who finds property for investors which meet a specific acquisition criteria.

Here’s the deal: This opportunity has nothing to do with sales, data entry, or any of those other possible questionable online business opportunities you may be aware of.

A Property Scout uses the Internet to search real estate listing databases for properties which meet the investors criteria. There are literally hundreds of these databases, many of which are free to use.

Advantages of the Opportunity

There are many things which make this opportunity attractive.

First, the price to get involved is very modest. It’s under $100 dollars.

Second, the money is really good. Frankly, there’s no comparison between what you can earn doing this and all the rest of the opportunities combined. It truly is one of the ways to make easy money online.

You can really earn hundreds of thousands of dollars a year.

Third, the support the company offers is incredible. While they won’t handhold or baby sit you, they will provide the weekly training, personal direction and weekly Q&A so that you can be successful–that’s more than any of the other opportunities do.

The fourth thing, is that you really can do this from home. There’s no travel involved. Plus it really only requires about twenty hours a week of work on a consistent basis.

The best part for me is that the company, Maverick Real Estate Investments, isn’t one of those schlocky companies promoting the next business opportunity. It’s real. And they sincerely want to see you successful because the big money for everybody involved is made when you find a promising property.

They’re committed to training you to be successful at it.

Maverick Real Estate Investments is in the commercial real estate business. That’s their purpose. And they’ve set up this business opportunity, so that they can attract people to help them find properties which fit their profile for acquisition.

It makes perfect sense if you think about it.

Disadvantages of the Opportunity

Are there bad points? Yes, a small one. But you really can’t blame the company for it, it’s just the nature of the commercial real estate industry.

If you need to make money right away, this is not the opportunity for you. Patience is key. While you can realistically make six figures and up a year, the fact is it takes time to find a property the investors want to acquire. It has to fit their profile (which they’ll thoroughly train you in).

And even when you find a property that meets their profile, they need the time to do whatever it takes to turn the property around which could take as long as 18 months to do.

But still, you have to admit it’s really good money. And let’s face it, you were to go into business for yourself, it would take that long AT LEAST to turn a modest profit–and nowhere near the money you’d earn as a Property Scout.

Now, they do offer an interesting way for you to get paid faster. But I wouldn’t recommend it, unless you really needed the money. You can get paid $15,000 when they buy the property and $15,000 again when they sell the property. It’s good money, but they prefer you to be partner with them and pay you when they sell the property and there are profits to be dispersed. It eases their cashflow.

Summary

In nutshell, this opportunity is legit. It’s lucrative. People ARE making money–and a lot. And it’s a profession which you can easily do from home using the Internet. Although it’s not perfect, it’s one of the few easy ways to make money online which is realistic and easily doable.

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Source by Yolanda Bishop

How to Buy Commercial Real Estate Property

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Every few years, the real estate industry suffers from a crash that leaves small and mid-sized business with a dilemma: is it better to own or to rent a commercial property. Buying commercial property is a complex business, which makes it difficult for experts to maximize their investment value. There is no one-size-fits-all strategy. The following guide takes a realistic approach to solving the dilemma of whether you should buy or rent a commercial property.

Deciding to Buy versus Lease

While weighing your option, you should understand the risk involved. Given below are some of the involved risks:

1. Location may backfire

You probably have heard the saying “today’s hot can become tomorrow’s not.” This common saying applies to commercial properties Trendy locations have a high chance of quickly becoming worthless. Even location that do not seem trendy upon first appearance have the chance of “going out of style” like a trend. There is a possibility that market may bust, thus making possibly any area you choose to become undesirable.

2. Loss of liquidity

It often is not easy to sell your property. A business that owns the piece of real estate needs their real estate to be worth some money to at least some thing that, if needed, can be converted to cash.

3. Tenuous cash flow

If you are business that owns property that is being rented out, you cash flow will be compromised if a tenant stops paying rent and your property requires unexpected, expensive repairs.

Assembling a Team of Experts

Not everyone is a commercial real estate expert. Therefore, it is important to get connected with team of experts who can help in determining the right locations, the right time for buying and selling, and the nuts and bolts of the deal. To create an expert team, you may require the following people:

1. Accountant: He or she can help you analyse the tax and operating benefits and figure out what you can afford.

2. Lawyer: He or she can negotiate with the lender and seller on your behalf and help you to complete the transaction.

3. Commercial Broker: He or she can help you identify the potential properties that you can afford.

4. Mortgage Broker: He or she will sort out all of the financing matters for the property.

Identify the Right Property

There are several factors that need to be considered when making any real estate purchase:

a. Location: Location matters a lot, as the location needs to be convenient for your vendors, suppliers, workers, and, of course, your customers as well. To determine the proper location, keep in mind what kind of business that you are running in addition to how accessible the location is to the highway, rail lines and shipping lanes.

b. Physical Condition: The selected location’s physical condition should also be taken into consideration. Be wary of any wear and tear, environmental issues or any other potential liabilities.

c. Allowable Uses: Get the appropriate building for your business type. For example, manufacturing businesses require industrial space. Accounting firms require office space.

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Source by Ashikur T Rahman

An Introduction To Real Estate Property Management Software

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The real estate market is a booming industry. The success of the industry is a result of competition and the intervention of modern technology. Most people in the business prefer to use real estate property management software to stay ahead in the race. This software has been designed to cater to commercial and residential property, office buildings and apartments.

Real estate property management software is an effective and easy-to-use tool. This software helps people understand the real estate business. It is a quick response application that can store each detail of every transaction. This helps study non-payments and full-payments of rent, and maintains a detailed report of rent receipts and invoices.

Property owners are able to key inputs as and when required. The secured system is intelligent and allows changes from authorized personnel. Real estate property management software can evaluate an unlimited number of properties and units simultaneously. The software stores detailed data related to rent payments for all individual properties. This systematic approach eliminates any problems due to taxation.

Real estate property management software generates automated reports in cases of wrong payments and non-payments. The software does away with the practice of owners waiting for rent payments. All maintenance expenses or any extra revenue statements are regularly updated. The software also stores tenant information.

Residential property managers must select property management software that is most suited for their work. These applications are available with one-month money-back guarantees.

The residential property management system is considered to be time- and cost-effective for a manager and resident. The application can create a personalized website for an individual company in a relatively short time. This allows prospective and existing customers to visit the web site. This is a convenient method to view pictures of property, pay rent and submit maintenance requests.

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Source by Josh Riverside

Buying a Property in Romania – Real Estate Law in Romania

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If you are looking to buy a holiday or second home or invest in Romania, Transylvania or at the Black Sea and you are a foreign citizen/investor, there are few aspects you should know about the procedure an the costs for the acquisition of Romanian land or Romanian houses.

After 2012, foreign citizens EU citizens (non-Romanian) may purchase a home or apartment in Romania may freely buy and sell any Romanian property, without restrictions. Along with the sell price for the property, buying real estate in Romania has other costs associated with it.

If you have chosen to collaborate with a Romanian real estate agent/ broker you can expect to have an additional commission of approximately 2-4% of the price of the property. The local tax will be 2-4% of the price of the property. The signing of a contract must be witnessed by a public notary who submits it for certification by the Land Registry in charge of real estate records. The fees for the Romanian public notary is about 0.5-1% of the purchase price. You will also have to pay fees to the Land Registry (“Cartea Funciara”) to register the Transfer Deed. The Romanian Land Registry Fee for a purchase of a property will vary from 1-3% according to the length of time that the seller had owned the property and the property’s value.

The Romanian law on property states that Citizens of EU member states, legal persons incorporated in the EU member states and stateless people domiciled in an EU member state can purchase land in Romania only if the land is used for secondary residences or for secondary headquarters after a 5 (five) years term from the accession of Romania to the EU (starting with January 1st, 2012); only for the agricultural land and forest land 7 (seven) years term from the accession of Romania to the EU ( starting with January 1st, 2014).

But for the Citizens, legal persons and stateless people not from a EU member state, the Romanian legal system establishes that they can purchase land in Romania, under the conditions of international treaties between Romania and the states of origin on these persons, under a reciprocity basis.

In our point of view, a prudent investor will hire a Romanian lawyer/ a Romanian Law Office, who will liaise closely with the notary on the verification of the title, obtaining the Land Registry excerpt and the drafting of the agreement for the transfer of ownership of the real estate. This means that the Romanian lawyer will be solely acting for and is responsible to his or her client, whereas the notary will not have the same degree of responsibility to the purchaser.

Under Romanian law there are three basic rights to land and buildings such as right of ownership; usage rights as lease, usufruct, superficies; concession right. The principle of contractual liberty represents the key core of the property law in Romania.

Sometimes, an investor/purchaser can opt for closing a pre-sale agreement, by which the seller undertakes to transfer ownership to the buyer at a certain date in exchange for an agreed consideration. The content of the pre-sale contract will stipulate all commercial and legal conditions for the transfer of ownership, as conditions precedent to the final transfer of ownership. The closing of such pre-contract for purchase does not means the transfer over the property, but the stipulate binding obligations for the parties, in regard to, as example, damages or penalties set out in them, if the seller refuses to sign the final notarized deed of transfer at the agreed deadline.

The closing of the pre-sale agreement is to protect the investor/buyer from any possible purchase to other buyers and to matters regarding the fixed price and duration of a future purchase. In our point of view, it is a must that the pre-sale agreement to be concluded at a Public Notary and clearly stipulate the sale price and other clauses regarding duration of future purchase. In this case, it can be enforced in court on the buyer’s request as a deed to transfer ownership.

A sale agreement signed in Romania, according to the Romanian legislation will mandatory stipulate: obligations of the parties for the fulfillment of the sale contract, delivery and quality conditions of goods and/or services, terms, payment methods and payment guarantees, payment instruments and price insurance, contractual risk, as well as method of solving eventual litigations arising from the contract. Other required elements include the full name and identification details of the parties (for legal entities) and name of the person signing the contract (representing a legal entity).

Our team of romanian lawyers offer a wide variety of legal services in the real estate law http://www.lawyersinromania.com

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Source by Simona Rotaru

How To Buy The Best Real Estate Property For Investment

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Many people are looking to buy a real estate property. They can use this as an investment or as a place to build a house. In any case, it is important for anyone to realize the importance of some buying tips. This way, you can easily get the most value out of your purchase. Of course, if you want to invest on a property, you have to make sure it is problem free. On the other hand, you could also use the property to build a new house. Usually, people are buying real estate assets for the family. Therefore, it is best that you could choose one without problems. Here, we will give you a few tips on how you can select a good real estate property.

One thing that you need to consider is to find a good location. The location of the property spells its true value. The more accessible it is, the better is the price. However, the initial buying price could be big for you to avail. This is normal because you are just investing on an asset. In the long run, your property will be worth more than what you paid for. This means you could increase the value of your asset so you can have better return of investment. Initially, a person needs to render a big amount of money to buy a property. If the location undergoes development in a few years, then the buyer could increase the value of his asset. Then he could sell it at a much higher price. Only this way can profits be realized.

Aside from location, it is also good to check if the property has no legal obligations. One of the basic problems of property buyers is legal problems. A property may have come from a bad owner who did not pay the previous tax requirements. This can be a pain to the buyer especially if the amount is too much to pay. On the other hand, there could be some foreclosure problems if the property has a built structure. This is also a concern for any buyers because it requires being resolved first. Upon solving it, one can then ask for the price of the property if it is for sale.

One more thing that you need to do is to find a broker or agent. We all want to save money when buying properties. However, we can save time and effort if there is an agent. A real estate agent will know everything that needs to be done. He can handle the legal issues of the properties if there is a problem. He can also let you bargain for the price when you want to buy or sell a property. Moreover, he can monitor the prices of the real estate so you can have better decisions. There are so many agents that you can find. Online, you may find them from real estate websites or those freelancers. It is best that you contact any of these agents so you can buy your property today.

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Source by Sanjuanita Jandreau

Real Estate Investing Opportunity: How to Locate a Property to Buy

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Are you looking for a profitable commercial real estate investing opportunity? Below are some helpful tips for locating a commercial property to buy.

Before you start your search, you need to decide on your desired property type. Determine the size, type and the location of the commercial property you are looking to purchase. It is possible that you may be looking for a multi-tenant office building instead of a small single-user office building. In such cases, make sure you are clear on these distinctions before you start your search.

Once you have the type of property clearly in mind, there are a number of sources you can use to locate that property:

Internet

The internet is a great platform to use to locate a real estate investing opportunity. There are several commercial real estate industry sites that give you detailed descriptions of properties offered for sale, as well as videos and other statistics that can be a helpful complement to your search. In addition, there are websites that are hosted by professional commercial real estate agents that will show listings of commercial properties for sale.

Another good source to use on the internet is to connect with user groups and real estate forums that can help you in your hunt.

The only downside to the internet is that it can be restrictive, especially if you are looking for a local commercial property. Most local areas do not have a multiple commercial listing service for commercial properties like the MLS (Multiple Listing Service) for residential properties so listed properties are not readily available to research.

Networks

Networking is another good technique used for finding properties. All you have to do is to visit your local real estate investment group and discuss your needs, clearly indicating the specifics of the type of property you are looking for as well as the financial requirements.

The same approach is valid at Chamber of Commerce meetings. You can also join groups of apartment owners, building owners, and associations of shopping center owners.

Professional Commercial Realtors

Last but not least, you can seek the assistance of professional commercial realtors. Good commercial realtors can be a great helping hand in your hunt for commercial properties. Not only will they provide you assistance but they will also help you in locating the most suitable property for your specific investment plans.

Sellers typically are represented by brokers and it is in your best interest as the buyer to have your own professional representation in any transactions you enter into. If you are worried about the realtor fee – it is usually paid by the seller and, therefore, you do not have to bear any expense.

In summary, homework is important if you wish to find a commercial property that suits your requirements. So do your homework and get the professional advice of a commercial real estate broker who will look after your best interests.

There are a lot of financially lucrative real estate investing opportunities in the marketplace. Good luck with your hunt!

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Source by David Earl Morgan

Real Estate Property Management

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One of the biggest decisions you will make as a landlord is whether you should hire a property management company or not. Many landlords manage properties on their own or with the help of an employee, such as a resident manager. Sometimes it happens that landlords need more help when property issues are complicated. This is when landlords need to seek the help of real estate property management companies.

Real estate property management companies can be a huge asset to your company but they don’t come cheap. They deal directly with prospects and tenants, saving you time and worry over marketing your rentals, collecting rent, handling maintenance and repair issues, responding to tenant complaints, and even pursuing evictions. A good property management company brings its know-how and experience to your property and gives you the peace of mind that comes with knowing your investment is in good hands.

A real estate management business is an independent contractor and this helps you avoid the hassles of being an employer. Along with the benefits, hiring a real estate property management company also comes with a drawback of being an expensive one. If you are living far from your rental property, it will be difficult for you to handle property issues from afar. Most of the landlords look forward to finding good tenants to maintain their property in good and attractive condition.

On the contrary, there are few landlords who look at their property purely as an investment and are not interested in lending them to any tenants. In this case, the best option is to hire a real estate property management to handle the property and manage the related issues. Even if you enjoy hands-on management, you will run out of time to concentrate on the growth of your business which will put you in a situation to hire help for your property. Hiring help of a real estate property management company is an attractive option if you can afford the fees for the same. While interviewing management companies, expect to hear quotes ranging between 5% and 10% of what you collect in rent revenue.

Trying to choose a property agent can be daunting, after all you need someone with experience, energy and a passion to succeed! Perhaps even more importantly, someone who will talk to you and honestly discuss how the real estate industry can work successfully for you. In real estate, it’s about service – and that’s what gets results!

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Source by Stanley Samuels