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Banks Are Approving Buyers, But Not Houses

This is a new trend I’ve been seeing in my deals and hearing about from colleagues and bankers in the business.

These days, when the banks send in their evaluators, they don’t just assess value. They also report back about any cracks in foundations, or major up-keep issues. This raises red flags on the file and the loan officer will likely ask to see the building inspection report.

Inspection report can bring up more problems than expected

The state of a property tells a story. Overdue maintenance on brickwork, cracks in the foundation, a deteriorating leaking roof will all significantly lower the value of a property.

When a property is flagged and the loans officer requests the inspection report, you must oblige, even if you put in an offer that was not conditional upon an inspection.

You must go back to the vendors and explain that the bank is insisting on a report.

Of course, this usually happens near the end of your timeline to get the mortgage approval.

If the inspection wasn’t part of the initial deal, the vendors can refuse to let you do an inspection.

This happens

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Keys to Real Estate Flipping Success

  • Mindset: This is where it all starts. For the last 3 years, I have felt myself fall into a little lull and have realized that this occurred because of my mindset. Your mindset could be a lot of things, but the basic concept is that what you believe will happen… does. Sometimes just convincing your mind that you will hit a goal takes work. Not to mention the work that it takes to actually hit that goal. Focusing your mind on positivity is a great start, but you really need to believe you deserve the success you desire. Meditation and affirmations are fantastic ways to accomplish this.
  • Hustle: Nothing is going to be given to you. When I was going through my struggles to hit some financial goals, I had to keep reminding myself of this. Times can get hard and things can feel unfair, but the reality is, no matter how much you don’t want to believe it, you are the only one responsible for your success. I would tell myself this over and over. “If I want it, I need to earn it” I had to get up in the morning. I had to deal with
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Essentials When Buying Property

Location

One of the most important factors to consider when buying a home is the location. The location is as important as the price of the property. Believe it or not, the location affects how you live later on.

Imagine buying property away fro civilization, how would you suppose to find a good commute to work? Unlike buying aroperty that has good security system, you would surely live at peace and feeling safe every single day.

When buying property, first determine where the location should be that would best fit your needs.

Neighborhood

As important as location is the neighborhood. When you visit the location, try to know the status of the neighborhood and make sure they are friendly and nonviolent. It is important that you are comfortable living with your neighbors. Otherwise, it would be a regret in the end.

You can perhaps talk to the neighbors during your visit and ask them about the people living in the location. Perhaps they can give you better insights about the place and the people living nearby. They can even tell you how safe and convenient the location is.

Price

When

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Get a Mortgage Being Self-Employed

  • Get your accounts in order
    Most lenders are happy to give mortgages to self-employed people who have been trading for at least three years and have two years accounts or self-assessment tax returns available. However, if you are unable to get three years accounts you may still be able to get a mortgage.
  • Speak to an accountant
    Lenders prefer borrowers to employ an accountant to prepare self-employed workers’ accounts. Some lenders state the accountant must be certified or chartered – so bear this in mind when choosing one.
  • Make sure your credit is good
    Make sure your credit is good and that you are permissible to be lent to. Determine how much you can afford and put your finances in place to allow you to get the maximum lend.
  • Understand your SA302
    An SA302 or a self-assessment tax return is the equivalent of a P60 for an employed applicant. It provides the yearly income of the applicant. Since 2012, self-employed applicants are being asked for SA302’s by nearly all Mortgage Lenders. SA302’s provide lenders with a strong indicator of the affordability of a mortgage that is to be offered to the applicant or borrower. Speak
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Elevate Your Lifestyle

Pros

  • A lifestyle of luxury and exclusivity. Living within a Private Gated Community, is sure to transform and upgrade your lifestyle significantly. Exposure to many luxurious amenities and scenic landscapes is enough to convince you of this change. There is also the added benefit of being able to access these particular facilities at your own time and leisure, giving you a sense of exclusivity.
  • Standards of security and privacy. One of the most valuable benefits that it offer to you and your family is the assurance of a safe and secure environment, 24 X 7.
  • A healthy and clean environment. Guarded against pollution and noise from the outside, your environment remains clean and healthy. A plethora of greenery also adds to keeping the air you breathe pure and fresh.
  • A feeling of belonging. An extremely important aspect of living amongst people in a gated community is the sense of community you develop, with one another. When you stay in a gated community, you will be not only the owner of your plot, but also the owner of entire layout, the amenities it has. Hence, you will treat each one of the amenity as your own and take good
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Commercial Real Estate Myths

  • You need considerable funds to start
    This is one of the most common misconceptions in the real estate industry, you don’t need to be swimming in funds to invest in your first property. Banks don’t only look at your balance to approve your funding, they look at the potential profits of your deal as well. The more appealing the deal is the more likely you will be to get your funding, however, you don’t need to rely on just your banks there are always private money lenders who’d be willing to help out if you check out.
  • The numbers are too hard
    These days there are plenty of software options in the market to do the legwork for you, you just need to know your figures and the software will compute the rest for you. The rest just boils down to you being able to interpret the figures to make informed decisions when it comes to your real estate needs.
  • Most commercial properties are advertised
    Contrary to popular belief most of the available commercial properties aren’t listed in newspapers nor will you find any bandit signs advertising the properties of your desire. You will need to
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Follow While Buying a Real Estate Home

Keep your money exactly where it is

Don’t move around a lot of money. Keep it in a particular location as it is not always wise to make any type of huge purchases or mover a lot of money around. Your lenders must be reliable all you and they must trust you. This can be possible only when they know that you have the required amount of money.

Get you home loan pre- approved

Nothing fruitful can come to you by leaving things for the last minute. Thus you must get a pre- approval for your home loan. This is not at all a difficult task. The whole intention of this particular task is to provide the lender with all the important information related to you. This can give him a fair amount of idea about yourself.

Don’t speculate or try timing the market

This is an obsession that many real estate investors go through. Never try to do so because it can lead to a lot of problems in future. Timing the market is a mistake and a one that can obviously be avoided. It is also quite impossible to time the

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Buy a Home With Bad Credit

Rent To Buy

Rent to buy is an excellent route into property ownership for many people with bad credit. The rental period will prove that you are able to handle the monthly payments for a year or more, which will make it much easier to secure a mortgage on the house when you are ready to buy.

Furthermore, every rent payment becomes equity in the property, which means that you essentially pay your deposit while living in the home. Only having to deal with the current homeowner in many cases is also an added bonus, as they can treat you like a tenant rather than a homeowner.

Research Federal Mortgage Programs

Many people actually qualify for federal assistance in securing a mortgage and may not even realise it. Speak to a qualified real estate agent and they will be able to let you know if your current situation means that you are able to take part in a federal mortgage program like the ones offered by the Veteran’s Administration or the Federal Housing Administration.

There are also a number of state-wide and local programs that also offer assistance to those who are trying

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Positioning Your Land for Sale

Geographic or market; suitability; and economic feasibility. Some buyers search for vacant land by geographic area, based on the locations of their projects, places where they have a comfort level from past experience, or municipalities in the path of future growth. Others search for land parcels based on the number of potential building lots or types of buyer markets they want to reach. These could include age group (e.g., first-time buyers, empty-nesters), price range (e.g., entry-level, luxury housing), and life or housing style (e.g., gated communities, townhouses).

However builders define their target land parcels, they have to sift through many properties before finding one or two sites worth pursuing. Then they evaluate the suitability of the property for their intended development. Issues that are investigated typically include the availability and accessibility of public utilities, the current zoning, and challenging physical features of the site such as floodplain, slopes, and wetlands.

Builders evaluate the property and analyze the deal in the context of these questions. As they obtain more information, the answers can change or even prompt additional research. What does not change is the builder’s focus on these threshold issues because they relate to the bottom

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Advantages of Green Building

Energy efficiency

The use of wood on green homes contributes to reduced embodied energy. This type of material which is usually used on walls and floors can also reduce the operating energy consumed in each day. However, more modern green homes capitalize on utilizing sustainable and renewable energy sources to run lights and other electricity-using appliances in the house. If you are to look into newer designs, there are green homes that have solar panels, biomass systems, and hydroelectric-generating features. Expensive as they may seem but you’ll be surprised that the federal government as well as some private groups and NGOs are actually giving grants and assistance to fund such alternative electricity-generating systems to be installed in green homes. On designs – insulations and high-performance windows are increasingly becoming popular choices too.

Water efficiency

The earth is being depleted of its water resources. High volume of water goes into waste each day because of inefficient water systems in regular homes. Leaking faucets, toilet flushes, pools, and shower heads all contribute to the deliberate wastage of water. Green homes eliminate these problems by imposing water-efficient and water-saving systems such as the installation of rainwater recycling facility

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