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This Is Why You Might Wish To Price Your Home On The Higher End

Posted by on Nov 22, 2016 in Uncategorized | Comments Off on This Is Why You Might Wish To Price Your Home On The Higher End

When you and your real estate agent are discussing the listing price for your home before it goes on the market, it’s important to price the home correctly. However, when their real estate agent provides them with a suggested range, many homeowners opt for listing the home on the lower end. The rationale behind this decision is that a lower price may be more favorable to the buyer, translating into a quicker sale. While this can certainly be true, there are merits to pricing your home on the higher end, too. Here are some reasons to think about doing so. A Higher Price Might Be Suitable For A Buyer In A Hurry Occasionally, you’ll come across prospective buyers who are extremely motivated to buy quickly. This can occur because their home has already sold, they’re moving to the area to start a new job, or other related reasons. When you encounter a buyer who likes your home and is eager to buy it, a higher price might not scare the person off. It’s the same premise as paying a little more for a gift when you’re Christmas shopping because you’re in a hurry to cross the item off your list. There Will Almost Always Be Some Negotiating Given that many real estate transactions include some negotiating, it’s often a good idea to price the home on the higher end. It’s common to actually sell the home for less than your initial listing price, so pricing the home a little higher should ideally give you the wiggle room that may be necessary to get your desired price. For example, if you want to get $225,000 for the house, you shouldn’t list the house at that price — the buyer will offer a lower price, and you’ll end up splitting the difference. By pricing the home higher, you may get close to your desired price. Dropping The Price Can Encourage Buyers If you price your home high and there’s little serious interest in it, your logical course of action is to drop the price. This might seem like a bitter pill to swallow, but there are some advantages. When people perusing online real estate listings see that a home’s price has dropped, they will often feel encouraged to check it out — the premise is that they view the lowered price as offering them extra value, which is something that many buyers will feel highly...

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Let’s Get Down To Business: 3 Things To Consider When Looking For New Commercial Property

Posted by on Mar 2, 2016 in Uncategorized | Comments Off on Let’s Get Down To Business: 3 Things To Consider When Looking For New Commercial Property

Starting your own business is exciting. It can also be stressful, especially when you’re trying to find the perfect location. Before you start looking for your new commercial real estate property, there are a few things you should take into consideration. Budget Price is one of the most important issues you should consider when looking for commercial real estate. This is especially true if you’re going to be operating a business from the building you purchase. Choose a building you can’t afford and it’s going to take a substantial bite out of your profits. Don’t take a chance that you fall in love with a building that’s priced out of your range. Sit down with your realtor and discuss a realistic price range and then stick to that limit. This will ensure that the building you choose is one you can truly afford. Location It can be disheartening to find a building that fits in your budget only to discover that the location is all wrong. Here are two issues you should think about when choosing a location for your business expansion. Neighborhoods You don’t want to waste your time looking at buildings that are located in undesirable areas. If you’re not familiar with the city in which you plan on purchasing your property, take the time to familiarize yourself with the neighborhoods. That way, when you start looking at buildings, you’ll already know where you want your business located. Access You’ve found the perfect building but parking is limited. If your customers won’t be able to access your establishment, they’re likely to take their business elsewhere. You can help speed up the selection process by letting your realtor know what your access and parking needs will be before you begin looking for property. Zoning Requirements The last thing you want to do is decide on a location only to find out that it’s not zoned for your particular business. If you’re not sure what your city’s zoning requirements are, take the time to familiarize yourself with them before you begin looking for property. It’s particularly important that you let your realtor know what type of business you’ll be conducting. With that information, your realtor will be able to steer you towards the right locations. It’s time to start your own business. The information provided here will help you save time and reduce frustration while you’re shopping for the perfect commercial property....

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Essential Records You Must Keep For Your Rental Properties

Posted by on Jul 31, 2015 in Uncategorized | Comments Off on Essential Records You Must Keep For Your Rental Properties

By keeping accurate records, you will be able to avoid mistakes that are sometimes made by other landlords. Accurate records are essential for tax purposes and also help you increase the profitability of your business. You may also want to consult with a record keeping specialist because the tax requirements for landlords are often changing. What do you need to have to make the job as easily as possible? Permanent Documents Keep the leases of all tenants permanently. Keep any legal documents, inspection reports and court appearances. Any permits needed for the property must be recorded. Titles, insurance documents and loan documents must be kept permanently. Since all properties can be different, if you feel there is anything you have left out, you should include it. Tenant Personal Information When you take on a new tenant, make sure you obtain all of his or her personal information including a phone number for an alternative person to contact, the ate that the tenant moved in and the date when the lease will need to be renewed. Payments and Expenses Keep a log of each of the payments that you have received from your tenants. Keep track of any expenses that occur related to your property. This includes any repairs that your tenants request you have performed. Keep any documents you have that are related to your finances, such as cancelled checks, so you can use these documents for deductions. These records will be used to determine if you have earned a profit and whether your deductions were legitimate if you are audited. If you have several properties, you will want to keep track of your income and expenses for each property separately. Your expenses should be kept for at least five years. Damage-Related Information Any records of damage done to the property should be kept, including photograph. This way, if your tenant later claims that he or she was not responsible for the damage, you will have evidence to back yourself up. Prior to a new tenant moving in, keep a damage log. Where to Keep Your Records If you intend to keep electronic records, determine if you understand the software used to keep the records. It is usually easier and less time-consuming to keep electronic records, but only if you feel tech-savvy. If you do choose to keep electronic files, make sure that these files are backed up at a different location than your company’s computer so the information is not lost in the case of a disaster. To learn more, contact a company such as Rest Easy Property Management with any questions or concerns you...

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3 Advantages To Buying A New Home

Posted by on Aug 26, 2014 in Uncategorized | Comments Off on 3 Advantages To Buying A New Home

Many people are trying to decide if they should buy a new home or buy a resale. There are many advantages to buying a new home, which is why so many people choose to build, or buy a newly built home. Here are 3 advantages to buying new. 1. Fewer Repairs and Less Maintenance One of the best advantages to buying a new home is that you will have fewer repairs and less maintenance. Most of the appliances, flooring, foundation and the overall build of the house will see fewer problems, or at least issues that aren’t severe.  Conversely, when you buy a resale home, you might have to deal with years of damage and problems that previous homeowners have caused. When you buy new, you can protect the property better. In addition, new homes have warranties associated with them, so you can get repairs and maintenance done without having to pay for it yourself. Before you buy a home, look into the warranty, because this is a major advantage for many homeowners. 2. Better Layout One thing that many people do not account for is the better floor plan and layout of the newer homes. Older houses, particularly those built in the 1960s or before, do not have the accommodations for the amenities that the newer houses have. For example, the wiring in the older houses is much worse than those that are new. When you buy new, you can insure that you will have plenty of outlets and that the wiring is safe. This does not just wiring, but the overall structure of the house will be better than an older home. 3. Less Taxes In many areas you will pay less taxes on a new home than you would if you bought used. This is because the taxes of your home are based on the year before. This means that you will pay for the value of your property calculated on the value of the home before it was even built. This means that for the first two years, you will pay significantly less than you would if you were in a used home. Additionally, if you buy a home in a new neighborhood, you will have less property taxes, since these taxes are based on the number of people living there, the schools, stores, etc. Thus if you can be one of the first people in the neighborhood, you can save money. For these reasons and many more, many people are choosing to buy new homes for...

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Rising To Meet The Mortgage-Rate Challenge: Get Your Credit Score Above 600 For Better Treatment

Posted by on Jul 9, 2014 in Uncategorized | Comments Off on Rising To Meet The Mortgage-Rate Challenge: Get Your Credit Score Above 600 For Better Treatment

If you’re planning to get a mortgage, from a company such as The Mortgage Centre – Northeast Alberta, so you can buy property, check your credit score and be sure it’s above 600. In Canada, scores below 600 tend to move you into the “subprime” lending group. You will face specific fees, and your down payment requirements will change. Taking the time to raise your score can pay off handsomely despite delaying your home purchase. It Can Take Time, but You Can Raise Your Score Through Simple Means Raising your credit score isn’t an exact science; FICO scores in both Canada and the United States function in similar ways, with different lenders seeing different scores, and different credit moves having different effects. But by paying on time, paying off debt, and showing a history of paying things either early or on time, you can eventually raise the score up. In Canada, you have the option of getting your credit score if you request your credit report online. However, requesting the report online is not free. Check every six months or so to minimize the fees you have to pay. You might also be able to ask your preferred mortgage lender to check, but that type of inquiry could lead to a small drop in scores, which can really make a difference if your score is hovering around 599. Keep in mind that the 600 figure is a general guideline. Different lenders will have tougher or more lenient requirements. However, 600 is in general a good number to try to get above simply because anything below that carries the stigma of being “bad” credit, no matter the reason why the score is in that range. Lower Scores Toss You Into Subprime Territory If you decide to proceed with getting a mortgage even with a score below 600, be prepared to talk to “B” lenders, who handle subprime mortgages. Subprimes are the same mortgages that got so many people into hot water during the housing crash a few years ago, so you don’t want to approach this lightly. Be fully aware of all the rates and fees you’ll need to pay, and be sure you can afford your mortgage easily. Don’t strain your budget for a house. Your interest rate will likely rise by a percent or two if you go to a B lender. The RateHub mortgage blog also notes that you’ll have to pay fees of 1 or 2 percent to lenders and brokers because of your low score, too. Your down payment will also have to be larger. Having a lower credit score really does have an effect on how much you pay. This is not a fanciful invention of financial-advice talk shows. Do what it takes to raise your credit score now so that you can get a much better deal on your...

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