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The Need for Getting Free Property Valuation Service

A property valuation report is a report that shows the price rate of a particular property. Price rate of a property can also be called as the market price of the property. It is determined by a property evaluator from a reputed property valuation company. Every property valuation company offer various services. It can be found that certain companies offer you some more information rather than the valuation report alone. This will provide you with a lot of other details that one must follow during buying or selling of property. Free Property Valuation service from valuation companies includes basic guidelines that will help us in interpreting the information.What you receive with Property Valuation Report• List of registered proprietors or owners
• A description of property as per the laws which includes the structure of the land
• Zoning or Resource management
• Valuation includes the market rate of the propertyRegionIn the region section, the evaluator will be putting in the complete details of the area of the property as well as the demographic description. It also consists of all the facilities and features that will be found in the area as well as its neighbourhood.Basic details and completed description of the propertyThis is a section in the valuation report where you will find the details of the property that provides a detail of the residential market value and the commercial market value. Other factors that do not affect the final price are ignored altogether.A detailed description of the improvementsDescription about the improvements in the property valuation report is something that is considered as a very important part in the report. When there is a chance of improvement in the property, there is a large chance for the increase in its value. This is the reason why such details are described in the valuation report in a detailed manner.The methods used in property valuationThe main methods used in the evaluation of the value of property are:• Sales approach
• Income appreciation approach
• Depreciated replacement costGetting the right information of the neighbourhoodWhen we want to know the right market value of our plot or property, it is natural to compare it with the neighbouring property. It is thus a fact that one of the major methods used during property valuation deals is a sales comparison approach. Hence it is very important to check the rates of the properties that are similar, and those that are found in the neighbourhood. When an evaluation is made, you need to give the evaluator the details of the rate of property in neighbourhood, property value and sales price (if it has been sold), price of property and other details so as to get yourself a proper valuation result of your property.Your involvement during valuationWhen you avail a Free Home Valuation service, make sure that you are present with the valuator, as this will help them to collect the right details of the land and help you give the proper valuation document.

When Should You Buy Foreclosed Properties?

There are quite a few potential advantages to purchasing foreclosed property, namely buying property at lower than market value and being able to move in more quickly to name just two. The trick comes in figuring out the best time to make that real estate purchase. We’ll look at the advantages and drawbacks of buying properties at different stages in the process so that you can make an educated decision.The Pre-Foreclosure StageEarly on in the foreclosure process, you’ll be working together with the current owners of the property to come to an agreement that will allow you to take ownership of the property. There are a number of pluses to making your purchase at this point:Purchase agreements that are negotiable – Instead of having to deal with real estate agents and others who are concerned about their commissions, you will be negotiating directly with the property owners. This means you have much more flexibility regarding the agreement.
Reduced purchase price – Because of the bad situation in which the prior owners have found themselves, you may be able to buy the property for much less than it is worth. Prices that are significantly below property’s market value are normal at this point because the owner usually just wants to get out from under the debt on the property quickly and is less concerned with making a profit on the property.
Lower Down Payments- Often, lenders ask for a 10% down payment on non-foreclosure properties. By purchasing a property during pre-foreclosure, this can be reduced dramatically. Sometimes you can even buy with no money down, depending on how quickly the owner wants to get rid of the property and the debt.
Faster Closing Times – Because the property owner is probably eager to get rid of the balance due and to move on, you can often complete the entire deal much quicker than you would with conventional property purchases.Although the list of advantages is impressive, there are a few potential downsides you should keep in mind before buying at the pre-foreclosure stage.Homework, Part 1: What is owed? – When you buy the home, you are going to be taking on all of the debt connected with that property, so you need to make sure that you know what you are signing up for. A case in point would be that if the prior owner has taken out a second mortgage or if the house is being used as security for another debt that has not yet been paid, you may end up owing additional money.
Homework, Part 2: Finding a home – The biggest challenge can simply be finding a pre-foreclosure home that you want. Legally, the lender must submit a Notice of Election and Demand (NED) into the public record before foreclosing on a home. You can sometimes find these NED’s on lenders’ websites or by checking the public record section of your local newspaper. You can also go to your courthouse and search for the records by hand, but this is extremely time-consuming and usually not very fruitful.
Homework, Part 3: Coming to an Agreement – Sometimes dealing directly with home owners can be easier, but sometimes reaching an agreement may be difficult. Make sure the property owner is serious about selling the property and willing to negotiate. Otherwise, it is not going to be worth your time and money.The Foreclosure Auction StageWhen a property gets to this point, the bank has already foreclosed on the mortgage and owns the property, and the time for bargaining with the owner is over. Auctions are one of the most usual ways for potential buyers to locate properties, usually because of the following advantages:Auctions are Easy to Locate – Unlike pre-foreclosure properties, auctions involving foreclosed property are pretty simple to find. They are often advertised online, in newspapers, and sometimes even on television. You can also get in touch with some lenders to find out when and where auctions will be held.
There are No Guilt Feelings – Sometimes, buyers of pre-foreclosure properties may feel guilty about profiting from the owner’s hard times. This can be intensified because they sometimes get to know the old owners through the negotiations. The auction is completely impersonal, which ensures this will not be a problem.
Bargain Prices – It costs lenders money to own these properties, so they usually do not want to hold on to them. However, only in about 1/5 of auctions does the property actually change hands. Lenders can be desperate to make back their loses and get rid of the property, they can sometimes be open to very low bids.Just as with pre-foreclosed homes, though the potential for savings is great, there are also some potential dangers and problems with purchasing during the foreclosure auction stage.Competition with Other Buyers – Foreclosure auctions can draw larger crowds, and you may find yourself bidding against other people who want the same thing. This means you may either pay more for the property or not acquire it at all.
Limited Chance to Research – Usually, when you bid on a home at a foreclosure auction you are bidding without ever inspecting the property. This can be hazardous because the property may look great from the outside but there may be problems that are hard to spot, like termites, mold, an old heating or cooling system that needs replacing, etc. which can cost you lots of money.
Spinning Your Wheels – Nearly half of all scheduled foreclosure auctions end up being canceled or delayed because the owners are trying everything they can to keep their home. If you have a long drive or flight to the auction or taking time off from work to attend, these cancellations can cost you time and money. To prevent such problems, you should always call beforehand to make sure the auction is going to be held as scheduled.
Miscellaneous Issues – The auction winner can sometimes liable for additional costs, including the money the lender paid to advertise the auctioned property. Also, there is the possibility that the original owner has not vacated the property, the auction winner may need to go through the hassle of having them evicted. This can be a time-consuming, aggravating, and expensive process.The REO (Real Estate Owned) StageAs mentioned, only about 20 percent of foreclosed properties are sold at auction, so the lender is often left with the property. At this point, they will usually perform necessary repairs on the property, pay any taxes owed, and do anything they can to make the property more appealing, then the house will go on the market.Plentiful – With recent changes in the housing market, foreclosures are growing in number. This means you can often find REO properties fairly easily. For example, in one Midwestern county at only one listing agency, about 125 REO properties were for sale.
Easy to Locate – REO properties are advertised just like any other homes being sold through realtors. The advertising won’t always specify that the property was a foreclosure, but sometimes it does.
Money for Repairs – The lender wants to earn back as much money as possible, so they will often cover the costs of repairs necessary to make the home more desirable. If they will not, they will sometimes discount the price so the buyer can handle the costs of those repairs.
Lower Risk – Since the home is owned by the lender and all other liens have been extinguished, you do not have to worry about discovering that you have to pay more money in order to do anything with the property.Although this option does provide the lowest risk when you are buying foreclosure property, there are still some disadvantages.Similar to Buying Conventional Property – Many of the benefits of buying a foreclosed home, including lower down payments and more flexible contracts, are not applicable at this stage. You will be dealing with both a lender and a realtor so the process will be more like purchasing a traditional property.
Less Profit Margin – When lenders reach this point, they are less likely to let the property go for next to nothing, so the amazing deals are usually not available during this stage. At best, you might pay 15% lower than market value.It really is up to you to figure out what is most important to you in buying a foreclosed property. If you want a combination of a low price, average risk, and a flexible arrangement, and are willing to put in more work, you find the pre-foreclosure stage to your taste. If you are not averse to taking a higher risk, you might save more money by taking your chances at a foreclosure auction. If you just want to save a little bit of money but don’t want to risk a loss, you may be best served by waiting to buy an REO home.

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3 Tips for Short Term Investments

Today’s marketplace is competitive, especially as the traditional system takes a backseat to the global economy. Practices such as international money exchange, offshore investments, and outsourcing opportunities are constantly changing the financial landscape- some for the better, and others for the worse. But there are still opportunities, right?

In the recent past, most of us have turned to financial institutions, such as banks and credit unions, to manage our money. However, conventional investment opportunities are becoming outdated as distrust for lending institutions has grown alongside interest rates and bankruptcy filings. So, how do you know who to trust and where to invest your hard-earned money?

While most financial advisors are still pushing long-term investments, short-term are undoubtedly the most sought after- and with good reason. Investing a small amount of money in a short-term investment can produce a high-yield in just a short time, but it can also be a quick “game over” for the unprepared investor. That’s why we’ve prepared a few tips for the short-term investor; a bit of due diligence to help you avoid common mistakes and save you from losing your shirt.

Do Your Homework
An effective investment requires thorough research, including the collection of data concerning the market, the company and/or project you’re investing with, and the feasibility of that company and/or project being successful. Before you dive into an investment opportunity that looks “too good to be true”, remember that sometimes those opportunities are too good to be true.
One way that you can protect your investment is to research the company or project that you’re supporting. Make sure it is a reputable and legal operation, check reviews, and look for fraud alerts on the internet. Once you are sure everything is legit, make sure the opportunity is one that has a high chance of success and you’re on the right track.

Don’t Be a Hero
The global marketplace is crawling with innovative ideas, especially when it comes to technology. Crowdfunding has changed the way people view, find, and support projects however not every innovative project is a success. History repeats itself for a reason and sometimes, trending investments are short-lived.
Be wary of investment opportunities that claim to have a high-return in a short-period of time. They may have the possibility of yielding a high-return, but they also have the possibility of instant bankruptcy for the entrepreneur who has nothing to lose. And, you don’t want your investment listed on the bankruptcy roster.

Follow the Money
Where there is already a steady cash-flow, there is bound to be more. Of course, this is not always true and businesses do occasionally take a turn for the worst, but for the most part, a business with revolving capital and assets is less likely to take a dive. So, if you see a good investment opportunity with a stable company, chances are they are running a short-term campaign for a special project using your investment. This is a win-win situation because they want to fund something that they know will make money while you benefit from their success.
Chris Bouchard is a strategic consultant who works with non-profit leaders and social entrepreneurs to apply concepts and techniques to identify complex strategic issues, find practical solutions, and devise strategies to create and win a unique strategic position. He also offers project development, proposal writing, and project evaluation services.