We are a full-service real estate company offering the most comprehensive real estate services available in the market, and we go the extra mile to assist our clients on a daily basis. We work tirelessly on your behalf to make your next buying or selling experience a pleasant and successful one.

Our services include working with both buyers and sellers in a wide array of markets including residential, commercial, land, and other related property types.

Our company is dedicated to serving your every real estate needs. We are committed to providing a superior level of service in order to ensure a smooth and beneficial outcome to each and every transaction.

Buying

Selling

Renting

Financing

Investing

Our team maintain exceptional knowledge of the local markets, outstanding negotiating skills, and the experience necessary to give you the service you deserve. Professionalism, dedication, and knowledge make us the perfect choice when selecting a realtor.

We provide outstanding exposure to your property through both traditional means of advertising while maintaining a comprehensive approach using today’s modern techniques including web advertising.

We will work with you to find your ideal home by using a wide array of resources and we will make sure all your buying needs are met.

we will utilise our outstanding negotiating skills in order for you to receive the best possible price for your new property. We look forward to serving all your buying needs.

Buying or selling your home will be an enjoyable and rewarding experience when you work with Kargil Properties and their innovative and effective methods for generating successful results quickly and efficiently.

A Commitment to Excellence

Our Firm’s philosophy is simple – we understand and care about people who ask for our real estate service. We make a commitment to your entire family. We find homes for families – homes and neighbourhoods that meet our clients‘ dreams and desires. We sell homes for families at the highest fair market value possible. That’s the reason our clients return again and again.

If you would like to consider us to fulfil your real estate needs, please fill out the following form below. This will help us to understand your specific real estate needs.

Office Address:

Kargil Properties

Lane Number 5, New Airport Rd,

Viman Darshan, Pune,

Maharashtra 411014

Open 7 days a week from 10:00 am to 8:00 pm

Owner And Director Of Kargil Properties:Mr. Sanat Thakur is an Ex- Army person, Motivational Speaker, NLP certified Trainer& Life coach, Successful Entrepreneur.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Megha Kadam

The maximum period for which the lease agreements can be made in real estate is 60 year term period. Shorter leases for the real estate for sale are also available. Cook Islands are part of the pacific rim of islands and the major industry is tourism. The only people that are allowed to purchase real estate for sale are available to:

* Natives of

* Those that have a permanent residency immigration status

* Those that are buying an existing business in or those that are planning to set up a business in Cook Islands.

Rarotonga is the biggest island and also the most developed of the real estate. Many investors are interested in buying properties here and the asking price for the villas can range from NZ$ 450,000. for sale properties is available at the beachfront and near the beaches. It also has an international airport which makes the access very simple. There are daily flights from Australia and New Zealand and from other parts of the world as well.

Holiday apartments for foreigners are also currently available for foreign ownership and can range from NZ$200,000 to NZ$400,000 depending on the locations in Rarotonga. Many of these properties also allow the owner 20-40 days free usage of the property. Rental yields can be extremely high and can start around 20-30% per year. If the owner wants more free stay, then the rental yields will come down. These holiday apartments are maintained by a third company and the owner can receive up to 50% of the gross rental incomes.

Along with holiday homes and villas, restaurants and shops are also desired and these can be obtained for a 60 year lease period also. Sometimes the existing leaseholder on the land can also sell their existing business to another company or person.

The average land values are in the range of NZ$150,000 for a 50 year lease term period for an about 0.25 acres. The land leases need to be paid upfront for the entire lease term period. Since tourism, copra and citrus fruit exports are the major earners, the Cook’s island economy is not vastly affected. It also has limited infrastructure and is periodically hit by natural disasters as well.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Taylor White

Here are some ways in which you can sweeten the pot and beat your competition to a sale

Out here in the field we are seeing home prices dropping as sellers respond to housing market pressures. Some sellers are still expecting premium sales prices for their homes, but the transitioning real estate market is resisting high prices and causing sellers to re-evaluate their expectations.

It’s a whole new ball game and, if you want to play, you need to know the new rules. Getting an agent to stick your home on the local MLS system and waiting for the offers to come in won’t cut it anymore. Today, traditional sales methods are not enough to sell your home in a reasonable time for a decent price. Home buyers have too many choices and home options to choose from. They are driving the market and your home is only one of many that they are evaluating.

The obvious response to the market, which has been adopted by many sellers, but at a price, is to reduce the price of your home below other comparable houses in your neighborhood. Although many sellers have built in some wiggle room between their asking price and their bottom line, buyers are asking for reductions that will significantly erode the seller’s profit, sometimes to zero. Those who have a need to move quickly, for employment for example, will even take a loss in order to remove the burden of two mortgages or ending up renting. This situation, by the way, offers real estate investors an opportunity to pick up some good bargains.

Even in today’s market, you don’t have to drop the price of your home to the point of taking a loss. There are other ways in which you can add value to your home, even if it is only perceived value, that will enable you to make a good profit and still sell in a reasonably short time. The use of sales incentives can be a very smart and cost-effective way to add value to your home without sacrificing much of your asking price, if any. Here are some things that can sweeten the pot and make your home a more attractive choice to potential buyers:

1. Offer a 3% commission to the buyer’s agent. Some agents will not show your home for less than that and they will most likely pick your home apart in front of the buyer if they do show it.

2. If you’re in a homeowner’s association, pay the new buyer’s fees for the first year or more.

3. Buy a home warranty, which protects all the appliances in the house including the air conditioning and heating systems. The cost is usually less than $450 for one year.

4. You can pay all or part of the buyer’s closing costs, which can be deducted at closing from your sales proceeds, so you have no out of pocket expense.

5. Pay the buyer’s property taxes for a year or some period. You may already have paid a portion or all of it anyway. Again, no out of pocket expense.

6. If you have oil heat or propane, give the buyer a full tank of fuel.

7. Offer free grass cutting or landscaping for a period of time.

8. Provide all new carpeting or kitchen appliances or leave furnishings that the buyer may want.

9. Offer to pay the buyer’s property insurance for a year or more.

10. Buy down the buyer’s mortgage points by a point or two. This adds significant value to the buyer in terms of dollars saved and it will cost you little.

If you think about it, you can probably come up with more. I have suggested and used these and other methods for distinguishing my clients‘ homes in this tough seller’s market. In addition, if you spruce up your home with new paint, especially the front door and kitchen, landscape your yard, clean thoroughly throughout, and stage your home to put it in it’s best light, your home will outshine the others in your neighborhood.

One final suggestion – hire a competent real estate agent. An agent will ensure that you don’t leave money on the table and help you with all the ways in which your home can be the best buy on the block. I can always justify my commissions because I get the home seller more money than he could on his own. A top-performing pro will make you money and not cost you. Just ask the many ‚for sale by owners‘ who ended up hiring an agent after an unsuccessful attempt to sell on their own or the ones that ended up getting much less than their asking price. But if you are determined to go it alone, the above tips should help.

Till Next Time,

Bernie Rosellen, Real Estate Auctioneer

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Bernie Rosellen

Creating wealth in our world can be summarized this way „the road to wealth is daring, challenging and risky and it is bravest at heart among us that can take it.“ To be wealthy is a choice and we are the ones that determine the direction of our life either to abject poverty or to lasting affluence.

As an income earner though the income might be very meager, but it is better than nothing. We therefore must see that minute income as a seed, hence we ought to be determined to create our wealth from it.

Steps to create wealth from your income

(1) Starting thinking in the direction of creating wealth. When your mind is set on wealth creation, it is possible to lead your life towards that direction, because our mind definitely direct the cause of our life, therefore focusing on wealth creation is the number step toward achieving this goal of living in wealth.

(2) Start thinking on how to get more money.

(3) Free your mind from thought that dwell on how to spend your meager income.

(4) Meditate on what to invest in; when you think about investment, your mind begins to work on different investment schemes and plans.

(5) Put your plans on paper; take out time out of your busy schedule, plan your life but most importantly plan your investment.

(6) Schedule your plan; your investment plans would definitely need you to cut down on your expenses, be ready to take up such inconveniences in the present, so as to have a wonderful future.

(7) Take action now; schedule your plan and implement your schedule. Living in affluence is everybody’s dream but would you be willing to do what is required? Take action now. home-business-daily-income.blogspot.com/

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Walden Carson

One of the worst mistakes sellers make is pricing their homes too high. Buyers are generally well educated and will not entertain an overpriced listing. After the property sits stagnant on the market, the seller will slowly wake up to reality and lower the asking price to a more realistic figure. The downside of this scenario is that, in the meantime, one has lost valuable marketing time.

The longer a listing sits on the market, the less attention it gets. The lesson here is – price your home accurately from the start! To help you determine that value, you can use one of three commonly used valuation methods: a Comparative Market Analysis or „CMA,“ a Broker Price Opinion or „BPO,“ also called a Broker Opinion of Value, and a Formal Appraisal, performed by a licensed and certified real estate appraiser.

Before we get into the details of each one of the valuation methods, let’s talk a little more about the different types of values.

Market Value

The Uniform Standard of Professional Appraisal Practice (USPAP) defines market value as the most probable price that a property should sell for in a competitive and open market. This assumes all conditions for a fair sale are present and that the buyer and seller are of sound mind.

As-Is Value

Generally, the as-is value is defined as the value of the subject property as it presently exists without repairs or improvements. The as-is value should reflect the subject property’s current condition.

As-Repaired Value

Usually, the as-repaired value is defined as the value the subject property would sell for if the subject property is in move-in, ready condition, but not overly improved for the neighborhood.

Quick-Sale-Value

The quick-sale value is defined as the value the subject property would sell for under liquidation, or forced-sale type terms. The quick-sale value commonly assumes limited exposure to the open market, and restrictive conditions of sale.

1. Comparative Market Analysis CMA

A CMA is a comparison of the prices of similar houses in the same general geographical area, typically, a one mile radius. Usually, MLS data and tax records are used to conduct the research. It includes: 1) closed sales – properties that have sold and closed within the last 6 months, 2) active listings – properties currently for sale, 3) pending sales – listings that are under contract but have not yet closed, and, 4) expired listings – properties that did not sell during the marketing period. After thoroughly analyzing this information, a probable sale price is suggested.

Because the price derived from a CMA is somewhat subjective, the outcome generally results in a price range rather than a definite number. Most agents will conduct a CMA without physically visiting the property. In general, a CMA prepared by an experienced agent with good knowledge of the local market is right in line with your home’s appraised market value. A CMA can therefore be a very useful tool. Most agents offer this service free of charge as a promotional means to earn you business.

2. Broker Price Opinion BPO (also Broker Opinion of Value)

A Broker Price Opinion is when a real estate agent or broker will do a valuation on a property similar to an appraisal. There are two types of BPOs: an exterior or drive-by, and an interior or full BPO. For our purposes, I will focus on the interior or full BPO, since this is most comprehensive and most valuable to a seller.

The Broker Price Opinion has been a popular tool used by lenders and mortgage companies to value properties in situations where they believe the expense of an appraisal is not necessary. A BPO goes into much greater detail than a CMA; the specific purpose of the BPO as set forth by the client will dictate much of what the agent focuses on. In addition to the work performed in a CMA, the agent will generally conduct a full inspection of the property and make a list of defects and recommend any necessary repairs. A detailed commentary of any material matters will be included.

Photos of the interior and exterior are taken and included in the report. Three recently sold comparables and three active listings are used to determine the value of the subject property, adjustments are made if necessary. The cost of a full interior BPO ranges from $85.00 to $165.00, depending on the detail wanted by the client. Commonly, listings agents will charge for this service but in some cases, might credit the fee back to the client at a successful close of escrow.

3. Formal Appraisal

A formal appraisal is by far the most detailed valuation tool used to determine the value of a property. Appraisals are most often reported on a standardized form, and only licensed and certified real estate appraisers can perform an appraisal. Licensed appraisers are trained to be able to appraise real property in a variety of ways;

The sales Comparison Approach (same as a CMA or PBO) is by far the most common, where comparable properties are used to determine the subject’s value.

The Income Approach: this method is most commonly used to value income producing properties such as offices and apartment buildings. In some cases, depending on the client’s requirements and/or the specific type of property, appraisers may use a combination of both the sales comparison approach and income approach to determine value.

The Replacement Approach: this method is most commonly used on new-built homes, where there are no established comparables, on homes built with unique materials of which no comparables exist, or, in case of, let’s say, a fire, where there is nothing left to compare.

The cost of a formal residential appraisal usually ranges from $300.00 to $450.00.

4. Conclusion

The reason to hire a professional to value your property is to obtain accuracy. It is strongly advised to start out with a realistic price tag, and in order to do so, a seller needs to obtain an accurate estimate of what the subject property is worth. This will set the tone for a smooth and productive marketing and sales process.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Dimitri Larno

Are you looking for the ways to sell house fast? Going by traditional method of approaching a real estate agent and listing your property in the market may take several months to sell your property. Moreover, it also means additional costs. If you are looking for guaranteed sale of your house, there are number of companies who act as the cash house buyers and offer guaranteed home purchase schemes.

How Do these Cash House Buyers Work?

These cash house buyer companies buy houses and properties by making private deals. The biggest advantage of selling house to these companies is they pay cash quickly. Though several companies buy your property without inspecting it, a few other companies may pick and choose the houses they will buy. Most of the times, the cash house buyers offer a quick purchase to the house seller and they offer to complete the buying process in a week or so. In addition, some property buyers may offer sell and rent back scheme. In this scheme, the company purchases the house and allows the home owner to continue living in it as a tenant.

Main Advantages of Using Cash Property Buyers

Selling home in the open market can take longer which can be problem to many people who have immediate cash requirement. The most important advantage of selling home to a cash house buyer company is the speed. These companies apply a sympathetic approach to your requirement and push the house sale really quickly. The purchase is made on cash payment basis and there is no chain.

Several house buyer companies also offer good incentive as part of the cash house purchase deal. For instance, they may offer free legal fees involved in the process. In addition, the home sellers can also save more money as they do not have to pay for a Home Information pack. As this will be a private sale, they need not market their property in the open market. Sometimes, home sellers may opt to live back in their homes even after the sale as these companies may allow them to stay there for a period as the tenants.

Calling cash house buyers can be a good option if you want to sell house fast. There are no hassles involved in selling your house using cash house buyers.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Damien Wilson

The first step to shopping for real estate in Nicaragua is to forget everything you know about the process back home… no matter where home may be.

Let me make one thing clear from the start. There are incredible bargains to be had buying property in Nicaragua. In fact, there is no other market in the Americas where insisting upon a 40% return on investment or better is reasonable. However, there are few similarities between the rules and regulations governing the real estate industries in North America or Europe, and Nicaragua. It’s because of this lack of similarities that foreign investors often get into trouble. There is a preconceived notion on the part of foreigners that the Nicaragua real estate industry is as carefully regulated as it is elsewhere, and it is this incorrect assumption that sets foreign investors up to be cheated. The only universal real estate investing rule that applies as equally in Nicaragua as it does anyway else is Caveat emptor, buyer beware.

Real Estate Brokers

Basically there’s no such thing in Nicaragua as a real estate brokerage that a Canadian, American or European would assume the term represents. There are real estate brokerage offices. Some even have familiar franchise names, but that’s where the similarity ends.

There is no mandated, formal training of real estate sales people, nor are there specific licensing requirements. Anyone can become a „realtor“ by paying for a merchant license or incorporating a Nicaraguan company. I’m not suggesting this means „all“ real estate sales people are incompetent or untrained… many are. In fact, there are a number of retired realtors who relocated to Nicaragua and maintain successful, upstanding businesses. However, there are many more who are not at all competent, and operate on the razor edge between honest business and outright fraud. Caveat emptor again!

There are no district or federal regulatory boards governing the real estate industry in place. Real estate sales are no more regulated than a vehicle sale transacted by a street vendor. Outright criminality is not ignored by authorities, but having the perpetrator jailed is unlikely to result in recovery of any money lost. The revenge should make a fleeced buyer feel better though. Nicaraguan jails exist to punish criminals, not rehabilitate, and they are Hell on Earth. Unfortunately though, most issues that can arise in a real estate transaction are considered civil matters by law enforcement and have to be treated as such. In short, whatever money you think you were cheated out of… consider it lost. Even with a judgement in the plaintiff’s favor, collecting money owed in a judgement rarely happens. So again, caveat emptor.

A serious shortcoming in the Nicaragua real estate market is that there is nothing similar to a Multi Listing Service (MLS). The lack of any form of MLS means there is no central registry of properties for sale, nor any information as to what a property sold for. The result is that it’s very difficult to decide what a house or commercial building in a particular neighbourhood is worth since there are no comparable property transactions to use as a guide. Appraisers base their appraisals on replacement cost mostly, and whatever else they provide is pure guess work. Ironically, banks require appraisals created by licensed Nicaraguan appraisers if mortgage funding is being requested.

There’s no such thing in Nicaragua as a listing similar to what most foreigners would understand the term to mean. Real estate shoppers will hear a realtor say that he or she has a listing, but it’s common to see two or more real estate signs on a single property. Likewise, the same property may appear on multiple real estate company websites and be advertised online by numerous different people. More confusing, the prices advertised may vary for the same house, sometimes by tens of thousands of dollars. Nicaraguans selling their homes rarely lock themselves into an agreement with one party wanting to sell their land, house or commercial building. If you want to sell something, the assumption is the more people trying to sell it the better. And by more people that can be realtors, the owner themselves, their family and friends, a neighbor, or a horse drawn carriage driver. This seems chaotic to a foreigner shopping for a retirement or vacation home, but it makes perfect sense to Nicaraguans. Without an MLS service that allows numerous realtors to show prospective buyers a listed property, letting everyone try to sell a property seems to be the best way to get exposure.

Another misconception foreign purchasers have when buying real estate in Nicaragua is that the seller is paying the real estate agent. This is sometimes the case, but even when it is the buyer may be asked to pay the commission. Yes, this is legal in Nicaragua. In fact, not only could there be a commission paid by the seller and buyer, but the real estate agent may have added an amount to what the seller actually wants in his or her hand. This too is legal. The worst case scenario is that the seller wants US$50,000 for his or her home. The sellers offers anyone selling the home US$1000 or a percentage. The real estate selling agent advertises the home for US$59,900, allowing for negotiating room. A buyer settles on US$55,000 but is told that in Nicaraguan the buyer pays the commission. Not actually the truth, but common enough that people think it’s a rule. The requested commission can be anything up to as much as 10%, or it can be a flat fee. Once all is said and done and the buyer agrees to purchase the property for US$55,000. In a case such as this, the ‚agent‘ will insist on a nonrefundable US$5000 down payment. At closing the seller receives the US$50,000 that he or she wanted and the selling agent pockets the rest.

I know of a purchasers who handed a ‚realtor‘ US$65.000 to purchase a 3 acre farm with a small house on the property. The ‚realtor‘ then went to the owner of the property and paid him US$20,000 to buy the land. It gets worse… the ‚realtor‘ never bothered to make the title transfer until the buyer discovered he was not the owner when he tried to pay long overdue taxes. In the end the property was purchased by a developer for little more than the original US$65,000, but 8 years of appreciation later. In another case Europeans purchase a home and overpaid US$85,000. Of course basing their offer on the European real estate values they knew, it was assumed they were getting a bargain. The ‚realtor‘ pocketed the US$85,000 and a commission he charged the buy as well. Again, perfectly legal in Nicaragua… so caveat emptor.

The way to navigate through what foreigners view as market chaos is to use a knowledgeable real estate consultant to find a property you want, negotiate the price, terms and conditions, conduct the necessary due diligence, validate the title and survey, and so on. This is a fee based service but far less expensive than a percentage sales commission, and far, far less than a costly mistake would be. One such service is Nica Investments, a real estate consultancy that assists foreign investors purchasing real estate or businesses in Nicaragua.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Len Bowcott

Today, realtors strive to make selling homes for potential sellers as feasible as possible. They have invested millions of dollars in developing Multiple Listing Services (MLS) and other technologies that facilitate efficient transactions. Through the MLS, brokers are able to share information on their property listings with other brokers who get compensated when they produce a buyer. Even though the real estate market is competitive, this arrangement has allowed competitors to cooperate in order to benefit the sellers.

1. Increased Exposure to Property

With MLS, sellers do not need to struggle to get potential buyers to see their property. Instead, the service lists their property, which is viewable to thousands of home seekers who visit the sites. Brokers cooperate with other brokers to list the property on multiple sites. This allows sellers to use a platform that was created by realtors for realtors to leverage a wide market for their property. In the long run, this helps to reduce unnecessary fees.

2. Sellers Can Relax

In the past, sellers used to work with several brokers and realtors when selling a property. This proved to be daunting, especially when making follow-ups and meeting potential buyers. This is no longer the case. With MLS, you take the photos of the property and upload them to the site. This allows buyers to get a picture of the property before a visit. Most providers allow the listing to remain on the site up to 6 months until the seller gets a buyer.

3. Professional Legal Help

There are legal aspects that are involved in selling a property and it is important to get everything right. Any issue could lead to delaying the sale of the property or not selling it at all. There are agreements to be signed that highlight the estimated price, advertising costs, commissions and agreement duration. A multiple listing service helps sellers to understand and meet some of these requirements to ensure a hassle-free sale. They also can help in unique cases such as where a divorce is involved.

4. Guaranteed Seller’s Privacy

MLS are maintained for real estate professionals to assist their clients with buying or selling a property. The participating brokers provide the data of the listings to the public free-of-charge. In such cases, the data is useful to the sale of the property and the buyer may want to access it. However, there are some cases that sellers may want to limit access to certain information such as personal contact information and the times when the property is vacant for showings. The service ensures that the seller’s information is not shared without permission.

Multiple Listing Services are a true reflection of the competition and innovation that exists in the real estate market. These services have help to ensure sellers can advertise their property to a wider audience. It is safe, easy and convenient for both sellers and buyers. There are different business models, such as full service and limited service, that MLS use, and a seller can choose an option that they deem best.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Alfred Ardis

Let’s face it, selling a home is not just about putting up your for sale signage on your front yard and advertising it in a variety of ways. In today’s real estate market, homeowners have to take extra steps to make a sale. For home sellers trying to make a good impression, home staging has become a popular way to increase a home’s selling price and decrease selling time. Beautifully staged homes not only attract more buyers, but they often receive higher offers. Besides, staging a home for sale by owner can make the difference between a house languishing on the market for months versus one that sells quickly for top dollar. Unfortunately, a lot of home sellers make mistakes during the staging process that may scare buyers away.

Furthermore, some of the top mistakes made by sellers may seem obvious, but unfortunately, sellers make them again and again. If you want to make your home shine while it’s on the market, avoid these common home staging mistakes.

1. Not knowing your target audience- One of the common mistakes people make when staging their home is not knowing their target audience. In real estate, your target audience is whoever is most likely to purchase your home or the demographic that makes up most of your neighborhood. If, for instance, your neighborhood is made up of young professionals and their families, you may want to aim for a modern color palette and decor. If, however, your neighborhood is full of empty-nesters who are downsizing, it might make more sense to go for a more contemporary look.

2. Furniture that doesn’t fit the room- Many home sellers make the mistake of filling their rooms with furniture that is simply too large for the intended space. Your family might love the oversized furniture, but does it fit the space well? Consider the size of your house and which furniture you should keep on display.

3. Not creating a space buyers can visualize themselves in- When it comes to staging a home for sale, you have to make sure that you create a space potential homebuyers can visualize themselves in. Furthermore, don’t leave too many personal photographs or specific items that are religious or age-specific. This can alienate potential buyers.

4. Neglecting the exterior and greenery- It goes without saying, that the first impression of your home’s exterior is what will bring buyers inside. Besides, curb appeal is everything. Furthermore, replace plants and greenery that are struggling and make sure the lawn is freshly cut. In addition, the backyard should also be full of colorful plants that invite buyers to head outside.

5. Not cleaning thoroughly- Another common mistake people make when staging their home is not cleaning the house thoroughly. Before showing your home to the buyers, make sure you properly clean your house. If you don’t have the time or desire to complete a deep clean by yourself, consider hiring a professional cleaner.

While these were some of the home staging mistakes to avoid when selling your home, there are many others, such as multiple focal points in a room, hanging artwork too high, forgetting to stage storage areas among many others.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Tushar Deep Singh

What Happens When You Buy A Home?

On average, people who live in the United States move to new homes about every seven years. That means that every seven years, people just like you are driving around neighborhoods, checking out schools, walking through complete strangers‘ homes, talking with bankers, and spending large amounts of money (i.e., keeping the economy rolling). The process is a long and sometimes difficult one, but also one that can bring with it a lot of excitement and joy if you find your dream home and can afford it. In this article, we’re going to go through the steps involved in a search for the perfect home. For instance, do you really need a real estate agent? Why do you need to be pre-approved by a bank? How do you negotiate the deal? And, how do you keep from getting a lemon?

Money Matters

Probably the most important step, and certainly the step you should take first, is to figure out how much you can afford to spend on a new home. If you haven’t set up a budget that shows you how much you’re spending on everyday things, now is the time to do it. A good budget will help guide you to the right price range of homes as well as prevent you from spending more than you should on your house. This can happen when the bank says you can afford a certain price range of homes based on your income and debt, but they haven’t taken into consideration all of your expensive hobbies, your monthly child care expenses, the fact that your car could die at any moment, or your love of international travel. You probably don’t want to have to change your lifestyle in order to buy a more expensive home. By having a handle on your personal budget, you can compare your own numbers with what the bank is willing to lend you to come up with a very manageable mortgage payment that will let you continue the same lifestyle you currently have.

Other Costs

In addition to the mortgage itself, you’ll also have to add property tax and insurance to your monthly payment. And, if you don’t make at least a 20% downpayment, you’ll also have to add Private Mortgage Insurance. Also, don’t forget the expense of closing costs. It can eat into the cash you have available for the downpayment. All of these additional costs add up, so make sure you are comfortable with the total amount of your monthly payment and know how much you can put into a downpayment before you begin your search and fall in love with a house you can’t really afford.

Need vs. Want Armed with a realistic price range, you can now start the process of finding that perfect home. Here is also where you have to keep a level head and think about what you „need“ versus what you „want“ in a home. Hopefully you can get both, but be prepared to give a little on some things that you don’t really need. Keep in mind that finding the perfect home isn’t always possible simply because it may not exist. Make a list of things you absolutely need, like three bedrooms, a backyard, a good school district, etc., as well as a list of the things you want, like hardwood floors, skylights, a „smart“ house, or a large foyer. Then prioritize those things. If you find a house that comes close to having all of your NEEDS but doesn’t have everything you WANT, give it a second look. By keeping these distinctions in mind, you’ll prevent yourself from prematurely ruling out certain houses without seeing them first.

Location is Key

Location, location, location. We’ve all heard that the most important thing to look for in a home is its location. It’s true — location is very important, even if you don’t plan to be there many years. What to look for in the location of your home may also tie in with the list of priorities we discussed in the previous section. For instance, are you looking for someplace close enough to town that you could walk to shops and restaurants, or do you want the seclusion of a more quiet, rural setting? Do you want your kids to be able to walk to school, or is riding the bus okay? Even if some of these things aren’t important to you, when it comes time to sell, the location of the home will always have an impact. The other thing to keep in mind about location is that your preferences will change over the years. What’s important to you right now, may not be so important in 10 years and vice versa. For example, having no kids might make you ignore looking into the school district the home is in. Later on, if you do have kids, that will be an important consideration and can also mean moving from a home you love in order for your children to attend better schools. But, is it a good location? There are many reasons why a home’s location is so important. As you’re shopping for your new home, you may want to consider the following:

• Proximity to town: How convenient will quick trips to the grocery store be? Do you care?
• Proximity to schools: Is the school district a good one? Do you like the school your kids would attend? This is important for resale, even if you don’t have kids yourself.
• Proximity to work: How long will your commute to work be?
• Proximity to other amenities: If you have kids, will you be driving all over the county to take them to sports events and school functions? Would that bother you?
• Crime rate: Does the area have a high rate of crime compared to other areas of town?
• Tax rate: Do you have to pay both city and county property taxes?
• Zoning: What’s going to be built next to you in the future? Or, what restrictions might there be on what you can do in your home. Some home businesses can be affected by zoning issues.
• Restrictive covenants: Does the neighborhood have restrictive covenants, or will you have a chicken farm pop up on the property next to yours? If you want a chicken farm yourself, does the neighborhood allow it?!
• Homeowners association: Is there an active neighborhood organization that will help maintain and improve the area?
• Public transportation: Do you have transportation options? Is that important to you?
• Noise: Go to the property at various times of the day. Is there a lot of noise from traffic? Are you in a flight pattern from the local airport?
• Safety issues: Are you near a nuclear or other potentially dangerous facility? Is there a landfill nearby that lowers the property value?
• Neighbors: Do the neighbors have similar values to yours? Go to the neighborhood at night and on weekends to get a taste of the types of activities that go on.

Realtor-Ready or Not When you begin the search for your home you have three choices:

• You can go it alone and do all of the legwork of finding homes by looking in the newspaper, searching online, or simply asking around.
• You can call a real estate agent and ask them to show you homes.
• Or, you can sign a contract with a buyer’s agent.

If you’re like most people, you probably weren’t even aware of that third option. There are some very fundamental differences in these three options. In the first instance, going it alone, you may miss out on a lot of potentially great properties. You will also find that you’re not saving any money because the seller pays the commission to the agent based on a percentage of the sales price. In the next section we’ll discuss finding a real estate agent. Real Estate Agent When you call an agent and ask them to show you some properties, you have to remember that they are always working for the seller — not you — even if they are not the listing agent! (The listing agent is the agent who was hired by the sellers to list their home.) This ties in with the fact that the agent is paid a commission based on the selling price of the house. (Usually a 5-7% split between both agents involved.) So, the higher the sales price, the more money the agent makes. It may be hard to keep this in mind as you spend time with the agent and feel you know and have a relationship with that person.

Even though you trust the agent, it is very important to never reveal the highest price you are willing to pay, or other concessions you know you would be willing to make. Because the agent represents the seller, he/she must relay this type of information to the seller. The flip side of this is also true. Again because the agent is representing the seller, he/she is not allowed to divulge anything that would tip the scales in your favor — like why the seller is selling or how low the seller will probably go regarding the selling price. Remember, the agent is bound by contract to work to get the best possible deal for the seller. In the next section, we’ll discuss your third option, buyer’s agents. Buyer’s Agent Your third option, using a buyer’s agency, means the agent is working with your best interests (and wallet) in mind. A buyer’s agent will work to negotiate the best price, ensure the property is inspected, and make sure you have the representation you need. Things you tell a buyer’s agent remain confidential. Using a buyer’s agent also means that you will be shown homes that are For Sale By Owner (FSBO). It might seem like using a buyer’s agency means you are going to pay more — but that’s not always the case.

Although there are situations where agents charge an hourly fee, or a flat fee for the service, in most situations they are simply working for the same commission that is paid by the seller and split it with the seller’s listing agent. While there is still some argument that this method leaves the incentive for a higher sales price, buyer’s agencies counter that by pointing out that a $10,000 savings for the buyer only amounts to a $150 difference in commission for the buyer agent. They feel that the benefit of your satisfaction with their service and the word of mouth promotion they will get outweigh the loss of this small amount of money. The type of agreement you sign with a buyer’s agent will dictate how the arrangement works. A limited agency agreement may stipulate, specifically, for what the agent will be paid. For instance, the agreement might state that if you find a home on your own, then no commission will be paid. Basically, you can negotiate the terms of the agreement up front so both you and the agent know what to expect and are comfortable with the relationship. Typically, however, if the agent has been otherwise very helpful and attentive, most buyers still pay some type of commission even if the agent was not involved in finding the home they end up purchasing. If you do decide to use a buyer’s agent, be sure to read the next section.

Be on the lookout for: If you decide to use a buyer’s agent be on the lookout for:

• Dual agency: This means the agent (or agents) are working on both sides of the fence. For example, an agent with XYZ Realty may represent the seller, while another agent (or the same agent) also with XYZ Realty represents the buyer. There are obviously arguments against this arrangement because of conflicts of interest, but nonetheless, it is still a common practice. In the dual agency situation, both the buyer (you) and the seller must be made aware of the arrangement and privileged information can’t be shared unless you agree to it.
• Neglecting to specify: If you begin working with an agent and forget to ask for or sign a buyer’s agency agreement then the agent automatically represents the seller. In most cases, the agent will bring this up and offer you the choice. If, however, the agent is the listing agent for a house you are interested in then the relationship automatically becomes that of a „dual agency.“
• Buyers‘ Agency Clause: One potential problem with signing a buyer’s agency agreement may come with a blanket clause stating that the agent gets a commission on any home purchase. If you think it is likely that you will find something without the help of the agent then you may want to specify in the agreement that a home you find on your own (a FSBO, for example) will not require payment of the standard commission.
• „In-house“ Listings: If you’re working with a traditional agent (or listing agent) rather than an exclusive buyer’s agent, be aware that you might get a little harder sales pitch for their own listings, or the listings held by their brokerage firm simply because they make more money that way.
• Release Clause: Make sure you have a „release clause“ in your buyer’s agency agreement just in case you find out you just don’t like your agent. This will allow you to sever ties without any future problems. You may need to take advantage of this clause BEFORE you see any houses — or at least any houses you think you are interested in.
• The Great House Hunt Once you’ve made the agent decision, you are ready to start house hunting. The agent will search the Multiple Listing Service (MLS) and give you a printout of houses that meet the criteria for your ideal home. If you are using a buyer’s agent, you may also get a list of For-Sale-by-Owner (FSBO) homes to look at in addition to the MLS list. Don’t forget to do some looking around of your own just in case the agent misses something. This is where your communication with the agent is critical. The agent needs to have a really good idea of what you want in order to make your search as efficient as possible.
• Making an Offer When you’ve found the house and are ready to make an offer there are several steps you need to take and contracts that need to be drawn up. Here is where your real estate attorney or agent really come in handy. The first thing that happens is your official offer, or bid. When you make the offer, you have to keep in mind that it could easily become a legally binding contract if the seller accepts it. Because of this, you need to make sure the offer includes all of the contingencies, concessions, and other details you need it to cover. In the next section we discuss the items your offer should include. Your Offer Here are some examples of things that should be included your offer:
• Your offered purchase price and the amount of earnest money you are putting down
• Home inspection contingencies: Since the inspection may take place after the offer is accepted, you need to state that the entire deal is contingent upon an acceptable inspection report. If the house is on a well and septic system rather than city water and sewer, these should also be inspected.
• Financing contingencies: You can also include a contingency for getting the mortgage you want (i.e., maximum interest rates, expected terms, etc.)
• Items included in the purchase: This list can include things like major appliances (often the refrigerator goes with the seller), lighting fixtures, shrubbery, basically anything that isn’t nailed down and some things that are!
• Title contingencies: Your attorney will do a title search to make sure the property does not have any other legal claims against it and that the seller holds clear title to it.
• Timeline: A deadline for responding so you know when to consider the offer rejected

Conter Offers After your initial offer, the seller may counter with a price just slightly below their asking price. This back and forth dickering can go on a couple of times until you come to an agreement, or someone else steps in and offers the asking price! Your agreement may not be only about the money either, there may be other terms and demands that you have to deal with. Just remember that until you have a signed contract anyone else can step in and make another offer. Professional Inspection Required Since the entire deal could be riding on the professional inspection of the home, don’t cut corners when it comes to the house inspection — and never skip it altogether. Even with new houses, there can be hidden problems that only a professional inspector may find. These inspections cost anywhere from $200-$500 and are well worth it. The types of things the inspector looks at are defects that affect the value of the home, make it unsafe or less livable for whatever reason. Leaky appliances, damp basements, plumbing problems, and other defects are some of the problems that can be turned up by a good inspector.

Major Points of Inspection Here is a list of some of the major areas inspectors will cover:

• Foundation: With either a basement or a crawlspace, is it simply damp or are there outright water problems? Are there any cracks in the walls or floor that might indicate structural problems?
• Construction: Does the house have good quality construction? Is the flashing properly installed to protect wood, are there any rotting problems with the wood, is the roof in good shape or will it need replacing soon, etc.
• Plumbing: Has the plumbing been properly installed? Is it in good shape? Is there any evidence of leaks?
• Heating and cooling systems: Are the units in good shape? Will they need replacing soon? Are they rated for the amount of square footage they are heating?
• Electrical: Do there appear to be any electrical problems or code violations?
• Interior: Are the floors level? Do windows and doors function properly? Do the appliances in the kitchen function properly? Is there any evidence of leaks or mildew in the bathrooms?

Closing the Deal Assuming the inspection turns out well, the financing is going through to your satisfaction, and all other contingencies are met, you’re now in the home stretch. Your attorney will do due diligence, which includes a title search to determine if the seller does indeed hold the title to the property and there are no other legal claims against it. This along with the home inspection will complete the due diligence package If everything is clear, then you’re ready to sign what may seem like the largest stack of documents you’ve ever seen! It is at the closing that the title to the property will be transferred to your name, your home owners‘ insurance (which you have to have already secured) begins coverage of the property, and you are officially committed to your mortgage. It is, unfortunately, also time for you to plunk down your cash for the downpayment and closing costs. You should be able to get a copy of the settlement statement that includes the amount of cash you’ll need at closing from your lender a day or two prior to the closing. Knowing these costs is important since you’ll need to pay your down payment (and usually your closing costs) with a certified check. You’ll be signing lots of papers, including:

• The settlement statement
• The sales contract
• Title insurance
• Homeowners‘ insurance
• The title or deed to the property
• The down payment and closing costs

There may be additional documents to sign depending on the complexity of the deal, so be prepared and block out appropriate time for everything. More information can be found at http://www.landstarnorth.com/

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Adrian Steinberg