Seven steps to do when doing due diligence on a piece of real estate, either for yourself or for investment purposes.
With the advent of Internet Real Estate Services and discount Realty Brokerage Houses many Buyers & Sellers have decided to transact directly. Though this sounds a good and money saving proposition, in reality from my experience these Buyers & Sellers are missing out and not getting ahead. Quite the contrary.
These words do not mean the same, they are related but they refer to very different aspects of the real estate transaction, or any transaction for that matter. Price is simply the amount in dollars that a piece of real estate is being sold for. Price by itself usually does not mean much, example: I […]
Another concern that many buyers have is “timing the market” this means when to buy. What happens if homes go down some more? What happens if after I buy homes drop in price? Note: What is discussed in this article will not apply in the same manner to what are called “High Cost Areas” in […]
As you noted from the title, I did not say the best “price”, I said the best deal! Big difference. Is it a good deal to buy a cheap house located in a bad neighborhood which requires thousands of dollars to rehab? What about a really good priced home which consumes all your savings, because […]
Most Buyers believe that if the property is distressed or in a short sale, they then would have the most chances of their offer being accepted, since the bank is “distressed” or wants to sell fast. However, it works totally in reverse, on a short sale or distress situation, the Buyer has the least flexibility […]
Short sales are a great deal when they are approved. A short sale means that the bank has given permission to the owner to sell his/her property for less than what is owed. To see a thorough explanation of how short sales work and how to do one follow this link. The problem is it […]
A distressed property is what is known as a “foreclosed” property. In this case the term “distressed” does not carry its regular meaning of “great pain or sorrow”, “misfortune”, “difficult situation”. When we talk about a “distressed” property, the bank is using a specific legal definition. According to The World Book Dictionary, the word “distress” […]
Banks make over 200% when they lend on real estate. Instead of them making this money off of you, you can be at the receiving end by becoming the banker. This can be done even with a small capital.