Archive for the ‘Real Estate’ Category

What is mortgage acceleration clause?

Saturday, March 16th, 2013

mortgage acceleration clause, mortgageIt is very important to correctly understand all the terms and conditions of mortgage laws especially the mortgage acceleration clause. Before signing any deal you should clear everything with the loan officer so that in future you end up in no trouble due to the mortgage acceleration clause. The clause is for the safety and security of the lender. The clause will allow the lender to demand for the repayment of the money lent on loan.

The mortgage acceleration clause contains many important points depending on the agreement. Some basic common points are:

  • The borrower cannot resell the property without the consent of the lender.
  • Some assets are kept as security or collateral for the loan. The borrower cannot sell the assets without permission of the loan lender.
  • If the borrower fails to repay the money on time, the assets will be collected by the lender and borrower will have no claim on them.

Best Ways To Buy Property Abroad

Sunday, October 28th, 2012

Buy Property Abroad, real estateBuying a property is one of the best investments that you can make as the value of land and property will hardly ever see any depreciation no matter what the condition of the economy is. Valuation of property tends to get higher unless there is an earthquake or a natural disaster. However, buying property needs careful attention and that is more important when it comes to buying property abroad.

You have to be extremely cautious regarding where you are interesting. Therefore, deal only with a reputed real estate agency. You should make a proper background check of the area as well as the buyer through the internet. This is important because you are not well versed with the atmosphere of the particular area. Use the online video conference for getting a virtual tour of the property so that you can see how the property looks like. This way, you can make your own decisions and would not just have to rely on the agency.

What to consider while renting a house?

Monday, September 17th, 2012

Rent a house, home rentingAll tenants don’t have a very good experience after they rent a house. It is very important that you do proper research prior to renting a house so that you don’t find yourself in any sort of mess afterwards. The most important thing you should consider carefully while renting a house is your landlord. Other than the landlord there are few other things that you should take care of. Make sure all the agreements and deals that you do at the time of renting are legal and before signing read all the clauses carefully and understand them completely. See if the house you are renting is properly secured.

The neighbors play a very important role whenever you are renting a house somewhere. Since you can’t stay all alone with your work and own life, you have to interact with your neighbors. See if the neighbors in the area are good and whether they will help you in during emergency or not. Easy accessibility to your workplace and easy availability of conveyance should also be taken proper care of so that you don’t face problems.

Things to keep in mind while renting commercial property

Sunday, September 9th, 2012

renting commercial propertyIf you are thinking of renting your commercial property then it may be a good idea because you can get quite a bit of money from it. But there are certain things you need to keep in mind when you rent such a property. Before you rent a property you must talk to the person whom you are renting so that he is informed about the maintenance.

It may happen that he shifts on to a new area after a year and in that case the maintenance will be very important for searching a new person who will take your place on rent. Secondly when it comes to the money part you must find out whether the person is financially stable or not. There are people who tend to delay the payment and that can me a major issue. A financially stable person has fewer chances of doing such a thing.

Property Development Financing Options

Friday, May 25th, 2012

Property Development Financing , financeIf you are not very well acquainted with property development financing options then one should properly look through the internet which will give them complete information about the various options and how to apply or get them from the various websites and numerous articles. One must go for the option provided by the property development financing department after judging on the status of that person and the actual size of the project he is undertaking. The first and foremost option is a residential mortgage option.

You will be able to avail a standard amount of residential mortgage only after the various criteria, first being, if your project concerns the site which you are developing is the main residential place owned by you or once the project is finished you are planning of staying there as a resident. This is one of the cheapest options after which specialist lenders stand as an option who will offer you a higher amount of loans than the value of the property.

Tax while Abandoning Rental property

Saturday, October 29th, 2011

The shuffling economic markets have a strong effect on the real estate industry. The US tax system is quite complicated and if not learned about properly, can bring in a lot of troubles. If you own a rented property which has a market value far less than what you owe it, then you might have a big financial problem. Many ignorant tenants prefer to flee the place instead of working out a solution.

When a tenant files properly against a property which has a very low market value (as against when he opted for it), then he can get a waiver over his tax basis. The borrower can file a 1099-A form wherein he officially states that he is abandoning the property due to the financial aspects. The lender (or owner of the property) needs to file the report within the stipulated time frame. The scenario may change when there is an official guarantee signed within the deed.