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The Role Of A Lawyer In The Realm Of Property And Real Estate

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Consider this: You have been eyeing a property in the city. You have saved enough to afford the house, but once you set about the process of actually buying it, you realize that it is quite a complicated procedure. So where does the layperson start? How do you go about buying and selling? Who will help you negotiate, liaise with the developer or buyer, value the property, check title-deeds, draft the agreement, register, and get the best deal? A good lawyer, of course.

Many buyers and sellers go about their transactions without professional help. But in fact, this can lead to complications and misinterpretations. Hiring an able lawyer will help smoothen real estate dealings. Real estate is not simply about locating what you want and plumping down the cash. You may inspect a plot or building and say, “That looks fantastic.” But don’t take the plunge yet. Behind the beautiful facade, there may be snags aplenty spurious or no title deeds, illegal permits, pending litigation, defective land use classification, encroachments, encumbrances, and a host of critical concerns that do not catch the unwary, unknowing eye.

TITLE IS VITAL
A good title is the foundation stone for a valid real estate transaction. For those of you who wish to become genuine trouble-free landowners, and have no clue how to go about it, here’s a quick guide to what a real estate attorney will do for you.

Assist in negotiations between parties, property inspection, valuation, and fair agreements.

DUE DILIGENCE
Going through the gamut of the real estate transaction processes with an eagle eye.

Title confirmation of current landowners, including verification of sale deeds and other title deeds pertaining to previous transactions to check the proper flow of title.

Ensuring that there is no pending litigation.

Zoning/Land Use/Acquisition: To ensure proper classification regarding urban, commercial, and check if any acquisition action is pending.
Checking if Open Space Reservation (OSR) will be applicable to the property.
Verifying statutory obligations: Up to date payments of Property/ Corporation Tax, Water and Sewage charges payment receipts.

PHYSICAL VERIFICATION OF TITLE DEEDS
It is not enough to check the title flow. Authentication with the originals is an absolute must.

DOCUMENT PREPARATION
Another crucial part of the proceedings. Only a lawyer well versed in documentation can guarantee that things are legally foolproof, or rather litigation proof.

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A Few Reasons To Invest In Real Estate This Year

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Calling all fence-sitters out there! It is a great time to purchase a home since current real estate conditions are better than at any time in recent memory.

There is a direct positive relationship between real estate investing and inflation. Inflation happens when there’s an increase in the cost of living. Since rental rates keep pace with inflation, the prices of rental properties will rise when inflation occurs.

Interest rates: Interest rates decreased to an all-time low this past week, but few homebuyers are taking advantage of them. As the economy begins to rebound, these rock-bottom interest rates just aren’t going to stick around. This is a once-in-a-lifetime opportunity to boost your buying power. Rates for a 30-year fixed mortgage averaged 4.17% percent this past week. During the previous week, the same rates were at around 4.24%, and last year the rate was at 4.9%.

Real estate is a good investment: It may be hard to believe during a real estate downturn, but homes do increase in value and historical data proves this. According to the U.S. Census Bureau, median home values (adjusted for inflation) have quadrupled since 1940, when a median price of a single-family was only $30,600. There will be ups and downs (like the present), but based on history, you will make money on real estate, especially since you will be getting a great deal on a home right now.

‘Tis the Season: Other potential buyers are focused on cutting down Christmas trees and shopping in November, not on purchasing real estate. This means less competition with other buyers for your dream home. You can possibly avoid bidding wars and you may find low prices on homes that sellers need to unload quickly. This all adds up to a great bargain for you just in time for the holidays! The busiest time for real estate is typically in the spring so why wait for more buyers to compete with.

It’s a buyer’s market out there: Home prices have decreased since the real estate peak a few years ago, and foreclosures are everywhere. This means that bargains are everywhere for buyers. You may never see these deals again in your lifetime so don’t miss out on them!

There is a good selection of homes on the market: Many sellers have been waiting for foreclosures to clear the market, prior to putting their properties on the market. They are beautiful, well-maintained homes that may just be your dream property.

Many potential homebuyers are very hesitant to jump into the real estate market right now, but this is a huge mistake. There is a perfect storm of factors that are pointing to one thing – buy! Please consult with a real estate agent, who will evaluate your options with you. Good luck with your home search!

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Are You Still A Real Estate Agent? Why?

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Great article… real estate agent buyers would be wise to give this some thought.

Are You Still A Real Estate Agent?  Why?

It’s a crazy real estate market we live in, interesting times.

Rental Property Investing Basics

Whether you currently invest in real estate or are new to the idea, buying rental property in a college town might have crossed your mind. Much of the standard real estate investing advice applies to properties in college cities. But there are some key differences to consider before you start buying rental properties near a college. As you continue to build financial stability and wealth, it’s wise to take time to ensure real estate investment opportunities are the right decision. Below, we cover the basics to help you determine if real estate investing in a college town is the best decision for you.

About 85% of millennials believe real estate is a good financial investment — and they aren’t wrong. Unlike the stock market, real estate investing allows you to collect cash flow — or immediate financial returns. Plus, there are tax benefits, the possible appreciation of your property, and equity paydown. At the very least, your profits will help you pay the mortgage — and even your own bills. Here are a few ways to enter the industry and start investing in your 20s.

Tips for Buying Your First Rental Property

As you begin to explore the possibility of buying your first rental property, it’s important to keep in mind how much money to save for a down payment. Ideally, you’ll want to have a 20 – 30 percent down payment saved before:

a) looking for an investment opportunity, or b) apply for pre-approval.

Determine where you want to invest

Making good business decisions means buying and selling properties based on accurate deal and market analysis. That means pulling accurate comparables, analyzing and managing property repairs, and using important data points to determine the projected return on investment based on well-founded buying and selling scenarios.

I love comparing rental properties to the stock market because the stock market is the investment vehicle we are all taught to use. Whether it is individual stocks, mutual funds, index funds, or REITs, we are told the best way to save and invest is to put our money in the market. The problem with investing in the stock market is we are depending solely on stocks to increase in value. Retirement calculators are based on the stock market. They make us guess when we will die to determine how much we should save. We run out of money if we live too long or save too much money if we die too soon.

Here are a few tips to help you succeed at real estate investing:
partner with an experienced investor to teach you the ropes in your city. Offer to help him or her with business to learn how to become successful. You should never pay someone to teach you. Ask your investor friends who taught them to be successful. Focus on a niche. There are many ways to succeed and fail, in real estate investing. Focus on one or two areas of real estate investing and never deviate. My niche is owner-financed houses from $60,000 to $100,000. That is the only type of property I buy and sell.

Silent real estate partners or investors are individuals with a lot of money but not a lot of time. Sometimes referred to as “sleeping partners,” these individual investors provide the capital needed to invest in the real estate asset but do not participate in the daily management of the commercial property. Generally, silent partners lack the leadership skills, industry expertise, or time required to run commercial properties such as restaurants, hotels, or apartment complexes. However, as full shareholders, silent partners share in any profits, losses, and tax responsibilities that result from operating the property.

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