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Monthly Archives: July 2017

Buy Abandoned Property

How to Find One

Listings give clues if a listed property is abandoned. Textual descriptions such as for immediate ownership, must sell, below market value, under appraisal are just some of the most common identifiers used to sigñify that a property is abandoned.

But there are also properties of this kind wich you may mot find on listings. If you think that a property you see is abandoned, you may check with the county clerk. From there, you can already check some underlying conditions such as tax dues and other fees which the owner might not have resolved.

Local real estate agents are also valuable resources for abandoned properties. Depending on your budget, they can show you an extensive choice of foreclosed properties or those nearing such status.

Real Estate Agent Help!

There are paperwork and documentation needed to go forward and make the bid towards owning an abandoned house. Yet, they might be time-consuming. Eliminate these hassles and stresses by seeking the assistance of a local real estate agent.

His or her professional expertise will help your journey from property hunting until ownership smooth one. He or she can also go with you to the abandoned property and there explain any other costs you might incur for repairs, not to mention, his or her keen eye for what needs to be fixed.

The agent can also aid in making the bid, and that is how small or how large the amount would be after careful consideration of the home’s current condition.

Sell Minimalist Homes

1. Find the right buyers.

When selling a certain type of house, it only makes sense that you pitch it to people who would most likely buy it. People’s tastes in houses vary, so you have to pinpoint who are most likely to buy a minimalist house. Here are some of the potential buyers to look for:

· Art-minded people often prefer places where there are less furniture so they can paint or carve and do their artworks free from distractions.

· The young adults who want smaller homes because it needs little maintenance and costs less.

· Seniors

· People who love Asian architecture and interior designs since most many Asian homes are minimalist in nature. Zen home renovation, which features minimalist designs, is in demand among Asian homeowners.

2. Make good visual presentations.

You can’t convince people a house is good with mere words and description. The modern mantra is “see it to believe it.” Visual presentations like a 3D architectural visualization made with 3D rendering and 3D modeling software will convince people more than regular photographs. Because while people believe that ‘seeing is believing’, seeing in 3D and 360 degree visuals is better.

3. Use social media and the internet

Use the internet to your advantage, especially Facebook. Make a Facebook page with the houses you sell so many people can see it. You can also make 360° videos, post it on YouTube, and link it to your Facebook page. If you really want to stand out, you can make an interactive, 3D rendered virtual reality app of the houses you sell, too.

Lower EMI for Home Loan

Each EMI consists of payment towards the principal (actual amount borrowed) and the interest on that amount for the entire loan period. In the early years, a higher proportion of the EMI is formed by the interest payment on the principal. As the loan matures, the interest component decreases and the principal amount forms a higher percentage of the monthly payment.

Our finances needs a lot of careful consideration and we need to deal with the EMI’s very smartly. Apart from managing the monthly expenses and EMI, we also need to save for the future. Here are some ways in which you can reduce your EMI payments:
1) Plan to pay more down payment: If you plan to buy a home, choose to make a large down payment for the property so that the principal amount is less. The interest payment is decided on the basis of principal amount, so it is always advisable to pay more as down payment and ease out on the burden of monthly installments. The smaller the principal, the lower the interest payment and smaller the EMI.

2) Go for longer tenure: If you go for a long loan period, your EMI reduces proportionately as your principal and interest is divided over a greater number of months. However, while the actual monthly outflow will be smaller, you will be paying out EMI’s for a longer period and paying interest for a longer period. So while your monthly burden might be smaller, you might end up paying more over the entire duration of the loan.

3) Making an early prepayment: The most feasible way to reduce your EMI is to make an early pre-payment. The early pre-payment of the loan will hit the principal amount and lower the EMI’s significantly. If the part payment is made in the early months/years, it decreases the principal amount and saves the interest on later payment.

Prepare Real Estate Closing

1. Keep in touch: Be a proactive buyer. Ask any questions you think of, and continue to ask, until you feel comfortable, and informed! After you have your offer accepted, and the house has gone to contract, continue to keep in regular touch, with your agent, mortgage banker/ broker, and real estate attorney. Be as prepared as possible, and find out what you should do, to reduce the hassle, etc!

2. Respond quickly and thoroughly: Through the period between the Contract, and the Closing, you will receive numerous inquiries, questions, etc. If you wish to minimize hassle and angst, and/ or any last – minute surprises, respond quickly to any, and all inquiries and/ or requests for information, from either your agent, mortgage broker, attorney, etc. Be thorough, and don’t take any shortcuts along the way. Providing all the information requested, in a timely, thorough manner, will make the entire process simpler!

3. Carefully, thoroughly gather Closing funds/ costs: Your attorney and mortgage company, should provide you with a list of needed funds, to address a variety of closing costs. A good rule of thumb, is to over – prepare, and have at least ten percent more available. Also, ease your post – Closing period, by creating a personal fund, dedicated to addressing monthly charges, including not only mortgage – related expenses, but household costs, such as utilities, maintenance, etc.