Things that can ruin your chances to sell your home

Do you want to sell your house? Do you think that it is easy to just find a buyer who is interested in your property and get a deal? However, it is not. Sometimes things could go wrong.

In today’s competitive era, selling a home is a very hard challenge. People have now become very conscious and choosy. Homes are staying on the market for longer duration leading to the huge inventory of homes. Many times, sellers overlook important factors that ruin chances to sell her or his home. If you want to succeed in your endeavor to sell your home, you should know about the things that may go wrong. Let us discuss things to avoid when selling your home-

• Poor curb appeal- Imagine, you want to buy a house. Will you be interested to see or enter an unappealing house? A house with the poor curb appeal will definitely create problems in attracting buyers. Just think from a buyer’s side. Clear up your front yard. Pull up weeds and tidy plants. If necessary mow the lawn, paint the trim or place some potted plants to make the outside of your home look well cared.

• Dirt and grime- No one will like to think about owning a cluttered house. A well maintained house surely appeals buyers. It is true that usually dirt is only cosmetic. However, it may deter buyers. Clean your bathroom and clear up all the mess. 

• Unpleasant odors- Bad odor may distract buyers. Sometimes, you may not even notice bad odors; however buyers are very keen and will definitely find it out. Pet and smoking can be the prime causes and your dust bin or food wastes can add it up. If you are thinking that just masking the odor with some other scent will do, then it is not so. It can make it worse even. Allow the house to air out thoroughly and after that you can think about air freshener. Even some fresh flowers will make the environment pleasant.

• Bad décor- It is true that your current home décor does not matter directly in house selling. However, many buyers may think to move into right away without any renovations’. That is why; you need to update your home as much as you can. You can think about neutral paint and flooring. If affordable, think about updating your kitchen countertops and appliances. Remember, this may add up the value of your house as well.

• Scary and loud pets- Besides the odor, scary pets can put off some buyers. When you have viewings, it is better to keep pets away. Keep in mind that buyers should focus on your home so try to fix all potential distractions.

• Unrealistic price- What is the most important factor you consider while buying anything? Of course it is the price. If your house is too expensive as compared to similar properties on the market, definitely it will distract buyers. If you want to get a home sold in a reasonable amount of time, then do invest time in research. Consult an expert for the current market trends and price range in your locality. Set the correct price and certainly buyers will show interest in your property.

• Neglected Repairs – if there are any obvious and nagging repairs, potential buyers will surely notice it and will lose interest in your property. Certainly, a house for sale does not need to be perfect. However, you have to invest money and time to make essential repairs. If your potential buyer requests you to do certain essential repairs, think about its need and probable costs.

• Marketing factors - Besides all above factors, different marketing factors contribute in selling your house. Never ignore your competition. You have to choose the right real estate agent that will help you get the right deal. In today’s era, many home buyers search online listings. So, you must include professional photos in your listing. Show off your home in a way that will catch a buyer's eye. Understand the market trends. Do not forget the text that goes with your listing. Make it interesting by using a little bit of creativity. Try to attract buyer’s attention by making it interesting in a limited space.

All above discussion listed a few things that can ruin chances to sell your home. Of course, you cannot control the housing market or economy; however, you can increase value of your home by avoiding all above listed mistakes.

© Global Realty & Investment Corp 

Property investment- does it still make financial sense?

Investing in property is a good way of putting money into something worthwhile. By investing in property, you can get more profit without sudden losses or many other risks associated with other types of investment. Due to this, more people have turned to investing  in property over the years.

If you think over the difference between investing into share market and property investment, there are limitless choices in which you get to make money. If you buy A-grade shares in bulk, you will definitely see cash flow and improve your financial status. Internationally renewed shares have many options, if the local market gets saturated it can spread overseas. Therefore, your profit is not affected. In the same way, if you buy a house at around $200K and at the peak market price, if you sell it at, let us say, $500K, you gain huge profit and can settle down happily.

So you get profits either way, but when you spend money in property buying you get many other advantages. The primary advantage is that the price of property remains stable and you can be assured about your future investments. You will not be at a risk of losing all your investment suddenly.

Although experimenting in the stock market can give you very high profit in a short time, there is very high risk, as you can gain high profits and also you can lose completely. Stock prices are highly unstable and keep on changing depending on the economic condition of a country; even the political and social sectors can affect the market. Besides all these, markets change on a daily basis and you need to watch them regularly. To gain profit, you need to foresee the coming profits and losses. This requires great concentration, regular study, and experience.

In  property investment, you will get stability and steady income. You might not get sudden huge amounts of profits, but small profits are consistent. You can rent your house and get continuous income from it. You can increase or decrease your rent as required and according to market prices.

Value Control:

Due to the stability of the property market, you are in control of your investment. When the prices increase, there is less fluctuation and you can attract many buyers. You can add new and modern features in your house, redevelop your property, and add many amenities, which will automatically attract consumers. You need to spend some to gain more. You can add new furniture and increase the value of your investment.

Investment with low risk:

In spite of all of the many downturns in the market, the property market is still low risk and relatively stable. This means that over the time, the chance of losing money is very low, and you can always wait for the market to rebound and in that time, you can always rent your house to gain short-term profits. You must know that this is a kind of investment which involves some level of risk; it can vary in the range of high or low.  But this is a chance to grow and also have stability.

All in all, property investment gives you good monetary growth. Property prices typically increase in value from the day you buy your house; therefore, you can earn money from it. You can sell the house at double the price from what you have bought it. The prices definitely grow as the years pass by. Therefore, you can buy a property in the area where the prices are low as compared to others. You can also consider buying property when there is a downturn in the market. You can later sell it at higher price when the market goes up. This will give you a chance to earn double the amount of money. All this clearly portrays that property investment does make financial sense.

© Global Realty & Investment Corp 

Mistakes - a new real estate investor should avoid

Real estate is a very profitable investment which remains stable for a long period. You can either get a slow yet consistent income from it or a one-time huge profit from it. Now, you can own property internationally. The real estate investor must study the economic conditions in a country and how much profit can be derived before investing. You can earn good in the countries like Australia, Hong Kong, Arab Emirates, and Germany.

A new real estate investor gets overwhelmed by the variety of properties around and can end up in the wrong deal. The investor must take precautions in order to avoid purchasing mistakes. Below are given a few mistakes that new investors should avoid in order to sustain in the business:

Business strategies:

When the new investor tries to find aid in understanding the basis of the business, they can come across many helping hands for that. But it is dangerous to apply all the aid at the same time. You must learn steadily and try to implement a perfect strategy, depending on the property and situation. You must try to understand the business strategy and choose what is more suitable for you and stick to it. If you try to keep your legs in all the business models, you will end up with no deals or a bad deal.

Exit Strategy:

Depending on the growth of your business, you must also plan your exit strategy from any deal. You must know what property can be profitable for you. If you feel that the deal is not profitable, you must undoubtedly exit or else you can end up losing your money.

How much time to spare in study?

It is very important for new investor to give time and study the property. You must check every aspect of the property, from monetary to feasibility levels. You must be perfectly sure about your choice. But sometimes, it happens that the investors are so engrossed in analysis of the property that the deal is taken by someone else. This can lead to having no property in hand. You need to spend time according to the condition. If the property is much in demand, you must make a quick and thoroughly analyzed decision. You must act according to the condition and demand of the property.

Dealing with buyers and sellers:

It is necessary to understand and listen, what the sellers or buyers want. Do not make a mistake of imposing your choice on them. You can very well explain to them about the benefits if you feel that the buyer or seller is losing a good property, but you must knowthat the last decision is the customer’s and not yours. Therefore, you must have patience and clarify in detail the deal and how much they can expect.

Saving Money:

Do not try to save money on unnecessary things. You cannot be your own closing agent or attorney. If you try to handle all the things on your own, then you will be distracted from your business. You require a professional for professional work. Therefore, it is better if some things left to the professional people of their field. You must invest some in order to get a good deal and a loyal customer. As an investor you need to bring in deals that will sustain your business and take it to higher levels. Therefore, leave a few formalities to people in that field.

Personal Attachment:

For new investors, getting emotional on any deal is very easy. Do not make a mistake of getting emotionally attached to the property. You must remember that you are here to attract potential customers, who will sell or buy the property and you get profit from it along with the customer. Be more professional and pleasurable for customers. They should trust your ability to find them a good property. Therefore, you need to be strong and dependable and not weak and emotional. You must love your job and not the assets.

Networking:

Some investors think that you must only be working with your clients and do not make connection with the other investors. This is a misunderstanding. Networking helps to expand your business. You get to know other investors and their working pattern. With good connections, you also will get to know new buyers and what you can supply them.

So avoid the mistakes and get a good profit from your real estate investments.

© Global Realty & Investment Corp 

House repossession- A brief insight

House repossession is a hot topic in the  last few years. Home repossession figures are expected to show an increase in the near term as the disturbed economy starts to take its toll on households. People make haste for buying their house and then end up in huge debts, which they are not able to pay back. Additionally, many borrowers are not able to foresee their financial stability and effect of this huge loan on their assets. This results in financial imbalance and the borrower is not able to repay the loan amounts It starts with irregularity in payment and then ends in failure of payment completely. This ends in repossession of their house and lead to a huge losses fot the family mentally and monetarily. They lose both their house and money.

When a family undergoes house repossession, it is difficult to recover and a great financial setback. The house is first repossessed, and then the house is sold at auction for a much lower price than its original price in the market. In this case, the money coming from auction is paid to the lender, but it can happen that the borrower still owes some part of the debt. Therefore, if the house is sold at a lesser price, then the remaining difference has to be paid by the borrower. The house repossession spoils your credit history and remains on your credit record for many years.

Undoubtedly, house repossession can have long term after effects, like you will get loans at very high interest rates, or not get a loan at all. Thus, you must consider every aspect of your financial stability before venturing into such a huge investment. If you fail to pay your loan amount for a few months your house will go into repossession mode. However, things have changed a lot now.

The good thing is that now there are many consultants who are here to help you get out of this condition. Now there are many financial organizations that can give you good plans and financial aids to pay your debt. You will have to pay half the amount of the entire loan in order to get out of this condition. The organizations will help to raise the price on your house in order to repay your debt.

There are many organizations out there to help you to sell your house at the same or increased value of your house. So, now you can sell off your house at good rates and get out of your debt. You can get help and renovate your house to increase the value of your house. You need to invest your money to get the higher value in order to avoid house repossession.

Legal procedures in house repossession:

If you agree to a house repossession, you will have to get an agreement with the lender for a home sale; this is in case you are not able to repay the loan amount. The Land and conveyancing law 2009, you need to get an order from the court in order to go into house repossession mode. You have to give this in writing at least 7 days prior to repossession. You need to spend on the procedures in the court. Sometimes, it becomes difficult to find a buyer for the house. Therefore, you must have a well charging order issued by the court; this makes the house repossession legal.

If you do not agree to a house repossession and also cannot repay the debt, then the lender can take you to court. This can make things complicated on your part. If the repossession and well charging order is against you then you will be forced by authority to go into the repossession procedure.

© Global Realty & Investment Corp 

Hidden Costs of Buying A Home

Are you planning to buy a home? Definitely, your decision to invest in property is really good. However, whenever you plan for any endeavor, it is essential to understand every aspect essential for it. Different expenses are associated with buying a house. Definitely, you must have considered front costs but are you aware about any hidden costs associated with it.

Let us explore different costs here.

• Stamp duty- When you buy a house, you have to pay stamp duty. The rates vary from state to state. If you are a first home owner, then in some states, you may be eligible for a decreased stamp duty rate. To know more about the stamp duty applicable in your state, you can visit, website for your state government.
• Government fees- While investing in a property, you need to be aware of the fee structures for your state. You have to know about all the charges that apply. Different types of government fees are applicable including government taxes, land transfer registration, etc. These charges are a mixture of viable charges and flat fees.  
• Home loan costs- When you buy a house, you have to pay for your home loan provider – both lender fees and mortgage repayments. You have to understand the mortgage concept clearly and look into different mortgage packages. Do invest some time, and efforts to understand the fees that apply to every home loan product.
• Legal Fees: This is an important factor you need to account when you buy a house. Legal fees will vary with the legal expert and state you select. You have to account it when you buy a house. Factors like complexity of purchase and size may vary depending on the size. It is possible to minimize legal costs.  Some websites provide all essential to help you receive and compare quotes. Keep in mind that quality and experience are crucial factors in your decision.
• Mortgage insurance- Another important factor you need to consider is lender's mortgage insurance. Various factors including the type and value of loan you have chosen, etc. contribute to this and the price may vary from organization to organization. For some loans, mortgage insurance is mandatory, particularly if you have less than 20percent deposit saved. Keep in mind that mortgage insurance does not protect you from any financial loss. However, it protects the lender against a home selling for less than the lender is payable.

• Inspection fees- While investing in a house, you have to think about every aspect and inspection is simply an unavoidable part of it. Experts recommend two main forms of inspection including
• Pest inspection – check that house you are planning to buy is free of termites and pests.
• Building inspection – Look for structural problems

It is a wise decision to get an expert to do this job for you. Once you get this inspection for building and pest done, you will certainly have peace of mind. You can be sure that you are investing in a right kind of property. Inspection fees may vary depending on various factors.

• Moving costs: you are buying a home definitely means that you will shift there. Have you thought about those costs? You have to consider costs significantly, particularly if you are moving a long distance. Costs may vary notably from company to company. Invest time in research. Look for all available options. You can search websites even to get multiple moving quotes easily.
• Additional costs: Besides all above points, you have to think about any other expenses including transfer fees, utility connection fees you need to pay for electricity, water or gas connection.

Buying a house is a very crucial endeavor that involves complications. If you want to succeed in your mission, think about every aspect associated. Prepare a detailed budget, which will cover all the costs you could accrue. Do invest time in revising it. Think about every cost that you need to pay for any reason. This will help you to be ready for any unexpected costs.

 © Global Realty & Investment Corp