How to Negotiate a Great deal on Real Estate when you see one
1. Buy Without Emotion. Buying at Auction is more competitive today than it has been in the past. More savvy Investors are looking for hot property that is undervalued.
2. Do your Homework- Due Diligence will pay off. Look at similar properties in the same area that have recently sold. Sometimes it pays off to get a valuation based on its location, existing condition, accommodation, style and land size
3. Assess the Sellers Situation- Not everything is negotiable. Good negotiators will track down vendors that need to sell and are motivated to sell. Discovering why the vendor is selling provides real insight into whether the property is worth bargaining for.
4. Establishing an offer is a fine balance. Go to low and you will scare the vendor away. If you have done your research you should be able to offer a fair market price. Your first offer should not be your last. You may be able to buy the property at a lower value. Negotiating is like playing a game of cards. Don’t play your best cards too early. If you save some money you can leverage that money to invest or buy more property.
5. Organise Finance approvals, building reports and contact approvals first. Have another property up your sleeve so you can use it as leverage in your negotiations. Find out if there are other offers on the table and the terms they are on. Present your offer in writing on a contract as this will show you mean business and attach a deposit cheque of 10% of your price.
6. If the deal has not been closed then doing nothing is sometimes the best strategy. Sitting back and waiting may make the vendor nervous and become more negotiable if they think that you are going to walk away. Time can be great negotiating tools so let the agent chase you. If it is an emotional buy for you dream home then time out can also be beneficial. When negotiating the price end on an uneven number as this will imply that you are pushed to the limit on your price.
7. How to negotiate Counter offers. If a counter offer is made try and find out how many other offers have been made verbally or in writing. Find out how many requests for building reports and repeat inspections and this will allow you to gauge the interest level from other buyers. Negotiate counter offers by giving something more back to the vendor. Offer a win- win situation. By improving the terms of your offer the vendor will know that you are serious.
Just remember that every deal may not be salvageable but also remember that there is a time to walk away and another property will become available.
Check out a Great Business here: www.jenellelrealestate.com
Friday, November 13, 2009
Saturday, October 24, 2009
Discover the Jealously Guarded Insights of Real Estate Tycoons and Hot Dealers!
Back in the days of the wild, Wild West, when easterners travelled across this vast country looking for opportunity in the newly opened territories, they were often referred to as a ‘tenderfoot’.
This wasn’t a complimentary term but it was a rather apt one. The easterners wore ‘city’ shoes that weren’t designed to withstand the rigors of the western terrain. Their hats didn’t have wide brims to protect them from the sun and their clothing wasn’t made of tough material like denim.
These new westerners didn’t know how to take care of themselves and because they didn’t know where and what the dangers were they didn’t have any idea how to avoid them. If you are just beginning to consider the idea of investing in real estate you are a tenderfoot and you do need some instruction to avoid losing your shirt…and probably your pants, hat and boots, as well.
First you will need to determine what your strategy will be in real estate investing. Do you want to buy a property, fix it up and sell it quickly or do you want to buy a property, hold it and wait for the market to increase? Do you want to deal with renters? All of these questions are ones that you need to answer before you invest in any piece of real estate.
You will need to learn how to investigate the value of properties yourself. It isn’t fair to use the time of a real estate agent and have them show you property after property while you try to look for a good real estate investment.
There are several online sites that are helpful in determining the real value of real estate. DO NOT rely on tax values. They are not reliable and they are not accurate either. You can find a real estate agent that you can work with and you can find recommendations for such agents online.
After you have learned how to determine property values yourself and have chosen a real estate agent that you can work with, the next thing that you need is a good broker that you can also work with. Ask your real estate agent for the names of three mortgage brokers.
Then you will need to find out what interest rates and closing costs each one charges. (Check out your local bank or credit union as well). Take copies of your three credit reports and choose a sample property for each broker to run hard numbers on.
Now you are ready to actually make your first investment. You want to choose the lowest price house in the best possible neighborhood to put a contract on.
Let's say the cheapest two-bedroom house in the best neighborhood in Fort Wayne costs $100,000 and the next cheapest, comparable home is listed for $140,000. If you buy the home that is priced at $100,000, you can raise your price to $130,000 the next day and make a dandy little profit.
Now let’s talk about closing the deal. First show the seller your pre-qualification letter from your lender. Then get the required inspections for termites and get your appraisal. Once you have all of your ‘ducks in a row’ so to speak, it takes about 30 days to make the final close.
A note here about any renovations or repairs that you might want to make to the property: Before you close, you might want to think about a Purchase and Renovate loan. A Purchase and Renovate loan wraps the cost of construction up in the loan so you don’t have many out-of-pocket expenses. This may require an estimate from a general contractor and plans from an architect as well.
Okay, now let’s go back to the first thing that you needed to do and that was to determine your strategy. Now is the time for you to execute that strategy that you have used to invest in this real estate. If you bought it with the strategy of flipping it when the market went up then you just simply wait.
If you bought it with the strategy of renovating and then selling then it is time to start your renovations. On the other hand, if you bought it with the strategy of renting it, it is time to start looking for tenants.
You see, the point of having a strategy for profiting from the purchase of any piece of real estate must be your first decision because everything that comes after that is dependent upon it.
This wasn’t a complimentary term but it was a rather apt one. The easterners wore ‘city’ shoes that weren’t designed to withstand the rigors of the western terrain. Their hats didn’t have wide brims to protect them from the sun and their clothing wasn’t made of tough material like denim.
These new westerners didn’t know how to take care of themselves and because they didn’t know where and what the dangers were they didn’t have any idea how to avoid them. If you are just beginning to consider the idea of investing in real estate you are a tenderfoot and you do need some instruction to avoid losing your shirt…and probably your pants, hat and boots, as well.
First you will need to determine what your strategy will be in real estate investing. Do you want to buy a property, fix it up and sell it quickly or do you want to buy a property, hold it and wait for the market to increase? Do you want to deal with renters? All of these questions are ones that you need to answer before you invest in any piece of real estate.
You will need to learn how to investigate the value of properties yourself. It isn’t fair to use the time of a real estate agent and have them show you property after property while you try to look for a good real estate investment.
There are several online sites that are helpful in determining the real value of real estate. DO NOT rely on tax values. They are not reliable and they are not accurate either. You can find a real estate agent that you can work with and you can find recommendations for such agents online.
After you have learned how to determine property values yourself and have chosen a real estate agent that you can work with, the next thing that you need is a good broker that you can also work with. Ask your real estate agent for the names of three mortgage brokers.
Then you will need to find out what interest rates and closing costs each one charges. (Check out your local bank or credit union as well). Take copies of your three credit reports and choose a sample property for each broker to run hard numbers on.
Now you are ready to actually make your first investment. You want to choose the lowest price house in the best possible neighborhood to put a contract on.
Let's say the cheapest two-bedroom house in the best neighborhood in Fort Wayne costs $100,000 and the next cheapest, comparable home is listed for $140,000. If you buy the home that is priced at $100,000, you can raise your price to $130,000 the next day and make a dandy little profit.
Now let’s talk about closing the deal. First show the seller your pre-qualification letter from your lender. Then get the required inspections for termites and get your appraisal. Once you have all of your ‘ducks in a row’ so to speak, it takes about 30 days to make the final close.
A note here about any renovations or repairs that you might want to make to the property: Before you close, you might want to think about a Purchase and Renovate loan. A Purchase and Renovate loan wraps the cost of construction up in the loan so you don’t have many out-of-pocket expenses. This may require an estimate from a general contractor and plans from an architect as well.
Okay, now let’s go back to the first thing that you needed to do and that was to determine your strategy. Now is the time for you to execute that strategy that you have used to invest in this real estate. If you bought it with the strategy of flipping it when the market went up then you just simply wait.
If you bought it with the strategy of renovating and then selling then it is time to start your renovations. On the other hand, if you bought it with the strategy of renting it, it is time to start looking for tenants.
You see, the point of having a strategy for profiting from the purchase of any piece of real estate must be your first decision because everything that comes after that is dependent upon it.
Saturday, October 3, 2009
Want to sell your Home
Thinking about selling your house without a real estate agent? It can be done and the truth is, many people do it very successfully. But there's a trick to it that not everyone grasps.
What's the secret? Just like in anything else: knowledge is power! Soldiers don't go to combat without orders, plans, maps and guns. Entrepreneurs don't create profitable businesses without knowledge of the market. Surgeons don't go into the operating room without knowledge of their patient.
And now - you'll be able to sell your house armed with the knowledge of a professional real estate agent. I've got over one hundred tips that will be your ammunition.
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Friday, October 2, 2009
UK Property Success
I just found this great report on UK Property Success
It will take You by the Hand and Show You Proven Methods of exactly How to Make Money from Property, Even During a Recession..."
In Just a Few Short Hours From Now You Could Know More About Making Money From Property Than You Ever Imagined!
Check out these testimonials
From - Bernadette (London)
"...the most complete book I have read on property to date. It gave me an overall view of some incredible techniques for making money from property within the UK. I am putting my strategy into practice already and can see clearly how I am going to make money from property."
Tony H has this to say
" I believe UK Property Success could prove to be a valuable aid for the novice or experienced property investor. It is succinctly written and imparts a clear overview of the current property market. The author intends to supply updates to his customers when market fluctuations warrant it, and this can only serve to increase its merit."
So if you want to know more come and visit
It will take You by the Hand and Show You Proven Methods of exactly How to Make Money from Property, Even During a Recession..."
In Just a Few Short Hours From Now You Could Know More About Making Money From Property Than You Ever Imagined!
Check out these testimonials
From - Bernadette (London)
"...the most complete book I have read on property to date. It gave me an overall view of some incredible techniques for making money from property within the UK. I am putting my strategy into practice already and can see clearly how I am going to make money from property."
Tony H has this to say
" I believe UK Property Success could prove to be a valuable aid for the novice or experienced property investor. It is succinctly written and imparts a clear overview of the current property market. The author intends to supply updates to his customers when market fluctuations warrant it, and this can only serve to increase its merit."
So if you want to know more come and visit
Saturday, July 18, 2009
There's Never Been A Better Time To Invest In Real Estate Than Right Now. With Today's Volatile Economy, The Timing Is Perfect To Exploit The Marketplace And Make Big Returns On Your Investments.
Learn how easy Real Estate Investing can be from the proven leader in investment strategies.
Discover how you can transform your financial future simply by choosing to follow this amazing real estate investment strategy!
This groundbreaking real estate investment couse examines a little-known investment strategy that is making others just like you millions of dollars!
Now Is The Best Time For You To Start Investing In Real Estate...
Information From Brian Cox & Jenelle L
Hello Soon-To-Be Real Estate Millionaire,
Your time is important, so I'm going to cut right to the chase…
I want to talk with you today about money...your money...and secret lost art in real estate investing that guarantees big money immediately.
I want to talk to you about what you can do to safely, quickly, and easily make the most of your time and money in today's topsy-turvy housing market—using as little effort as possible to make the biggest profit.
I'm going to tell you about a simple way you can supercharge your real estate investment strategy (even if you've never invested before) with a secret weapon that is sure to give you the advantage you've been seeking to make the ROI you've always wanted.
If you would you like to learn how to make money with an easy-to-use real estate investment strategy, then I invite you to read on as I open my personal vault filled with decades of secrets to making money in real estate.
If you really listen to what I have to say, in no time at all you will begin outperforming many of the top real estate investors around the country… and you'll be thumbing your nose at those so-called experts who have been stealing your money for years with their useless products (more on that later).
I'm here to tell you about an incredible real estate investing strategy that will require some work on your part—not a lot, but you're not going to get rich sitting on the couch watching TV.
I'm here to tell you about my investment strategy that has proven, time-tested results that have consistently made money for my clients and real estate investors around the world.
I'm here to tell you about a way to protect the money you currently have—which is not easy in today's economy—as well as show you how you can begin increasing your wealth day by day with powerful keys to financial success.
I'm here to tell you about making huge profits with real estate investing…
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Are you using Real Estate as an Investment?
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