The Right Remortgage Deals – How to Decide
Following the decision to remortgage your home, choosing the right remortgage deal is the most important decision you have to make. To ensure that your deal offers you the greatest benefits, it’s important to make sure the deal is the most compatible for your unique financial circumstances. Remember to talk with market professionals in order to get the best advice. Until then, however, here are some basic features that may be available when choosing your best loan option.
One important thing to remember is that deals revolve around the lender’s SVR, or Standard Variable Rate. Whether you’re paying the SVR or not, most loans and their interest rates relate to it. A common deal called a discount mortgage is a good example.. The benefit of the discount mortgage is that it offers a reduction on the SVR. If the rate changes, the amount you pay changes automatically to reflect that. The discount benefit of this type of home loan relies heavily on the length of the deal.. The shorter the period of the discount, the greater the discount.
The tracker mortgage is a comparable loan offer. If you have this type loan, you know for certain that your interest rates are in line with bank base rates. The benefit of this type is that even if there is a delay in reducing the lender’s SVR to reflect cuts in base rates, cuts are automatically applied to your loan’s interest rate. You see immediate change and your payments reflect the new, cheap rates instead of having to pay at an old rate while waiting for changes to kick in. Many tracker mortgages also offer fairly flexible terms that might be very appealing.
A flexible mortgage allows you to vary payments from month to month to reflect any changes in your finances. The options are to over- or under-pay, re-pay lump sums or take advantage of a payment “holiday” and pay for another major expense instead. It may be possible to take advantage of more than one of these offers instead of having to choose only one. The best feature of these incentives is that generally there are lower or no fees associated. These types of benefits are dependent on certain conditions, such as being in good standing on current payments or exceeding the terms of your payment schedule.
When you research and compare remortgage options, you may be surprised to find that more than one deal could benefit you. You can choose a plan for its cheap interest rate or for the absence of fees; it doesn’t matter because there are multiple options for your unique desires. If it’s not working for you, you don’t have to be locked into a mortgage plan.
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Sunday, July 25, 2010
Due Diligence For Real Estate Investors
Due Diligence For Real Estate Investors
Protect yourself and your investment by doing some things that could pay off big down the road when you are looking for the right properties to buy.
Real estate investors must be very careful and knowledgeable in order to protect their financial investment and get the best deal possible. Savvy buyers, no matter what they are buying have a set of shopping rules when making a purchase…the best price possible…haggle…inspect carefully (buyer beware)…best quality you can afford…so why not do the same for a really big purchase like real estate you buy as an investment?
It starts with picking your target location. What do you need in a target area where you want to invest? If you are investing in single-family homes or apartments, you might look for the best possible schools along with convenient shopping. A professional might want office space. An entrepreneur might want a store space and living space in one where lots of shoppers gather. Narrow down your needs and desires. Then decide what area fulfills your list of needs and wants and start deciding what you can afford.
Some commercial ventures may not be location sensitive. You might find something cheaper further out, but still in the path of development and changing zones from rural or residential to commercial. Or you might find a good location that’s improving from previously depressed values. If you can see the improvement coming it could be a great decision.
Then get your financing in order and pre-approved before you narrow down your target properties. No Realtor will take you seriously if you don’t take this step. We all have to be realistic about what we can afford.
A good Realtor will listen to you. If they show you a lot of properties that don’t seem like good matches, you may need to consider changing to someone who listens better.
When you have found a property that seems to fit your needs, make the Realtor prove value. Ask to see a market analysis of properties VERY close by that have sold and closed in the last 60 days. You may find that the property you’re buying is significantly over or under priced. This data is available from “Multi-list” or at the local tax office.
Study selling prices in your target area to make sure you know enough about prices, especially if you want a fixer upper. Fixers need to sell low enough to justify the cash you plan to invest in remodeling. Any good appraiser will tell you asking prices are often very different from selling prices. Don’t believe everything you hear. Get the facts.
When you feel like the time is right, make an offer contingent on an inspection and obtaining financing. Inspections can cover a number of issues that could cost you money, like pest infestations, environmental issues, and broken stuff. Do them all. With this data in hand you can go back to the seller and HAGGLE big time. Try to get the seller to lower the price, not make the repairs. Any work the seller does at this point WILL be quick and dirty. If a structure is in pretty bad condition you can make a really low offer, one that would justify the amount of work you have to do. It might be accepted. You never know. And you might find something that would make you pass on the property. If you have the right contingency contract you only pay for the inspections.
If you make a deal be sure and get a title search and title insurance, preferably the day of closing. This is especially important if you are to have a clean title free of workman’s liens, tax liens or other debts that you would have to repay in order to have a property you could resell. It’s the single most important thing that happens to protect the investment you make that many buyers don’t see a need to pay for. It is worth it.
Another thing that’s worth the money you spend on it is a survey. You need to know if there is any encroachment or easement on your property. Many of these things could involve expenses for you. A municipality might expect you to accept liability for water damage to other owners below your property. You don’t want this kind of problem. Know these things ahead of time.
The point is you have to really study hard and go in armed with knowledge. A real estate purchase may be the biggest investment people ever make in their lives or businesses. In the current real estate market, capable buyers have an advantage. Maximize your advantage by being well educated. Knowledge really is power.
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Protect yourself and your investment by doing some things that could pay off big down the road when you are looking for the right properties to buy.
Real estate investors must be very careful and knowledgeable in order to protect their financial investment and get the best deal possible. Savvy buyers, no matter what they are buying have a set of shopping rules when making a purchase…the best price possible…haggle…inspect carefully (buyer beware)…best quality you can afford…so why not do the same for a really big purchase like real estate you buy as an investment?
It starts with picking your target location. What do you need in a target area where you want to invest? If you are investing in single-family homes or apartments, you might look for the best possible schools along with convenient shopping. A professional might want office space. An entrepreneur might want a store space and living space in one where lots of shoppers gather. Narrow down your needs and desires. Then decide what area fulfills your list of needs and wants and start deciding what you can afford.
Some commercial ventures may not be location sensitive. You might find something cheaper further out, but still in the path of development and changing zones from rural or residential to commercial. Or you might find a good location that’s improving from previously depressed values. If you can see the improvement coming it could be a great decision.
Then get your financing in order and pre-approved before you narrow down your target properties. No Realtor will take you seriously if you don’t take this step. We all have to be realistic about what we can afford.
A good Realtor will listen to you. If they show you a lot of properties that don’t seem like good matches, you may need to consider changing to someone who listens better.
When you have found a property that seems to fit your needs, make the Realtor prove value. Ask to see a market analysis of properties VERY close by that have sold and closed in the last 60 days. You may find that the property you’re buying is significantly over or under priced. This data is available from “Multi-list” or at the local tax office.
Study selling prices in your target area to make sure you know enough about prices, especially if you want a fixer upper. Fixers need to sell low enough to justify the cash you plan to invest in remodeling. Any good appraiser will tell you asking prices are often very different from selling prices. Don’t believe everything you hear. Get the facts.
When you feel like the time is right, make an offer contingent on an inspection and obtaining financing. Inspections can cover a number of issues that could cost you money, like pest infestations, environmental issues, and broken stuff. Do them all. With this data in hand you can go back to the seller and HAGGLE big time. Try to get the seller to lower the price, not make the repairs. Any work the seller does at this point WILL be quick and dirty. If a structure is in pretty bad condition you can make a really low offer, one that would justify the amount of work you have to do. It might be accepted. You never know. And you might find something that would make you pass on the property. If you have the right contingency contract you only pay for the inspections.
If you make a deal be sure and get a title search and title insurance, preferably the day of closing. This is especially important if you are to have a clean title free of workman’s liens, tax liens or other debts that you would have to repay in order to have a property you could resell. It’s the single most important thing that happens to protect the investment you make that many buyers don’t see a need to pay for. It is worth it.
Another thing that’s worth the money you spend on it is a survey. You need to know if there is any encroachment or easement on your property. Many of these things could involve expenses for you. A municipality might expect you to accept liability for water damage to other owners below your property. You don’t want this kind of problem. Know these things ahead of time.
The point is you have to really study hard and go in armed with knowledge. A real estate purchase may be the biggest investment people ever make in their lives or businesses. In the current real estate market, capable buyers have an advantage. Maximize your advantage by being well educated. Knowledge really is power.
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Sunday, July 18, 2010
Ways to Sell Your Mortgage Notes
If you want to sell your mortgage note click here for a free quote. We buy mortgage notes!
It happens to many Americans, that when they sell their house they still carry a mortgage. Each and every year, the same question is asked ” How can I sell my mortgage note and get the cash I need?” If you are the holder of mortgage notes for sale, this information may be of assistance.
Annually, millions of real estate transaction are done without the involvement of a real estate agent or bank. Often a home owner can make a lot more money, when he decides to do the financing himself. Properties that are normally discounted under normal conditions and properties that are under standard, can now fetch top dollar in the market. But when they do the financing, they sell to people that either don’t want to or can’t get bank financing.
Completing this step, makes a real estate note. The new home owner makes the monthly payments to the person that has the cash flow note, so the seller becomes the bank.
The seller may want to cash out the real estate note after a certain amount of time if he so decides depending on his circumstances. Now when you have a cash flow note for sale you have a couple of options. You don”t have to sell the whole real estate note. You can just sell part of it to raise the cash you need.
A dependable private real estate investor with cash to purchase your real estate note is needed in order to sell real estate notes. The key to finding the value of your mortgage note lies in finding an investor who can determine its worth.
Those who buy notes professionally won’t charge you for speaking about your cash flow note, especially if this first discussion takes place over the phone. But you will find out a lot about how to cash out a real estate note.
Always keep in mind that the note buyers have to buy the notes at a discounted price and that too it should be large enough to cover the inflation and the risk. The real advantage to you of a transaction like this is that you recieve the money immediately.
Discovering the value of your real estate note is fairly simple, and private real estate investors compete for mortgage notes for sale, so peruse real estate investors’ websites if your finances require it. Ask them for information on how to cash out that real estate note you have. We often have a tendency to make things harder than they actually are, just because we lack certain knowledge or do not feel like asking questions. Availability of internet has made the knowledge conveniently accessible in today’’s world.
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It happens to many Americans, that when they sell their house they still carry a mortgage. Each and every year, the same question is asked ” How can I sell my mortgage note and get the cash I need?” If you are the holder of mortgage notes for sale, this information may be of assistance.
Annually, millions of real estate transaction are done without the involvement of a real estate agent or bank. Often a home owner can make a lot more money, when he decides to do the financing himself. Properties that are normally discounted under normal conditions and properties that are under standard, can now fetch top dollar in the market. But when they do the financing, they sell to people that either don’t want to or can’t get bank financing.
Completing this step, makes a real estate note. The new home owner makes the monthly payments to the person that has the cash flow note, so the seller becomes the bank.
The seller may want to cash out the real estate note after a certain amount of time if he so decides depending on his circumstances. Now when you have a cash flow note for sale you have a couple of options. You don”t have to sell the whole real estate note. You can just sell part of it to raise the cash you need.
A dependable private real estate investor with cash to purchase your real estate note is needed in order to sell real estate notes. The key to finding the value of your mortgage note lies in finding an investor who can determine its worth.
Those who buy notes professionally won’t charge you for speaking about your cash flow note, especially if this first discussion takes place over the phone. But you will find out a lot about how to cash out a real estate note.
Always keep in mind that the note buyers have to buy the notes at a discounted price and that too it should be large enough to cover the inflation and the risk. The real advantage to you of a transaction like this is that you recieve the money immediately.
Discovering the value of your real estate note is fairly simple, and private real estate investors compete for mortgage notes for sale, so peruse real estate investors’ websites if your finances require it. Ask them for information on how to cash out that real estate note you have. We often have a tendency to make things harder than they actually are, just because we lack certain knowledge or do not feel like asking questions. Availability of internet has made the knowledge conveniently accessible in today’’s world.
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