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How to Avoid the Wrong Type of Home Buyer (2019 Update)

If you are looking to sell your home, then there are certain types of people looking to make investments in real estate you should do your best to avoid. According to real estate investment experts most buyers looking to make investments in real estate can be placed in one of three categories, dream home searchers, bargain home hunters and those looking for a great home at a fair price.

The first type, dream home searchers are most of the time willing to pay full price for their investments in real estate when they find what they consider to be the perfect home for them. The bargain hunters for investments in real estate thrive on finding the best deal they can possibly get, most likely want to negotiate and are often the types that look for fixer-upper homes. The great home at a fair price buyers are looking for investments in real estate generally don’t want to go full price and usually go through as much a negotiation process as they possibly can. If you have your home priced correctly and it is in great shape, most likely you won’t encounter the bargain hunters looking for investments in real estate, but you are likely to come across the dream home and great deal shoppers that can be broken down into three sub-categories, that can affect your bottom line and that you want to try and avoid if at all possible when it comes to those who are looking for investments in real estate. These three categories are the “zero-percent down shopper”, the “bully buyer” and the “sight-unseen” shopper.

The “zero-percent down buyer”- a lending company may find it difficult to approve a loan on your home, especially if it is setting a high mark selling price for similar homes when there are for investments in real estate buyers wanting to purchase it for little or no money down. This can cause you to lose offers on your home and keep it on the market for a lengthy amount of time. These type of buyers who are looking for investments in real estate are people you definitely want to avoid when they come looking for a deal on a home. Most of these types of buyers have done this before and can be very aggressive to deal with. The next type of buyer you want to avoid is the “bully buyer”. This type of buyer looking for investments in real estate will come in, look at your home and all the while they are making an offer will start listing all the things they think are wrong with your home. They are exceptionally difficult to deal with and can cause you unnecessary stress regarding the inspection process and will drag out closing negotiations and nitpick every part of the buying process. People looking for investments in real estate who try to bully you into selling need to be stopped the minute they start their litany of complaints. These are people who make investments in real estate often as a way to acquire property for resale and not as a place to live.

The third types of people who look for investments in real estate that should be avoided are the sight-unseen buyers. They will look at advertisements or online listings and never actually come and view the house. They are the worst kind of person looking to make investments in real estate. This type of buyer is often someone who for reasons not known to anyone but themselves will do this as a trick to tie your home sale up in negotiations so that it can’t be viewed by serious buyers looking for a good deal on investments in real estate. These types of buyers can often actually be competing realty agents who are attempting to hurt another’s sales. If you have someone trying to purchase your home that refuses to come and view your home in person or send a representative, tell them you only deal face to face with those who are looking for investments in real estate.

While these types of buyers need to be avoided, you can find someone who is truly a buyer that is easy to deal with and who is really interested in purchasing your home as way to make investments in real estate.

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Some useful tips about buying a new House (2019 Update)

These days, prices of homes are hiking. A person needs to invest a lot if he wants to buy a new one! This is not only applicable in the city dwellings but also in many other parts of the country. They may have to pay a huge amount of down payment and do not get the opportunity to avail of less interest rates for home loans. That is why, when a buyer is on the market to look for a new house, it is imperative that he has a clear understanding of the market trends. Best real estate investments cannot be achieved without enough knowledge and much patience. A buyer should not choose a house in a rush; instead, a prudent buyer does a lot of research and finds the right deal that would give real value to his hard-earned money.
In order to achieve best real estate investments a buyer has to consider a lot of factors. This article aims to present several of these important factors to consider by serious buyers before they finally make up their minds to buy a property.

Many people are fascinated by a good kitchen décor at the new house they are going to buy; and very rightfully so! One should carefully check this area of the house as it could take a lot of money to spend redecorating this area if it’s not in a very good condition when you buy the house. It could cost tens of thousands to beautify the kitchen so make sure this is already properly set up and decorated when you buy your new property.

The best real estate investments should not require you to spend for expensive remodeling and renovation projects. Check out the things and amenities that go with your purchase like the appliances, cabinets, counters, floors, etc. as they will cost you a fortune to have them installed or renovated. If you want a dazzling look in your house then you may want to have solid wood décor for your kitchen cabinets, handrails, and floor. One can also opt for high quality granite, stainless steels, butcher blocks, and engineering stones for your solid surface counters. Moreover, good material woods, cork, laminations and tiles are must-haves for a house. If you find all these things in a certain property, they could be good indications that it may be just the right property for you.

Aside from the kitchen, the bathrooms come next. In 2009, the statistics has showed about $16,000 expenditure spent just for fixtures and plumbing. One has to inspect the property and check for the proper fixing of toilet accessories, absence of leakage in tubes, pipes, and floors of the bathroom. Different problems can arise in case of shared bathrooms and for that reason, you must also exercise caution when you see this kind of set-up in the property that you are interested in.

A good roof is one of the best requirements of a good house. It takes around $19,000 to replace the existing roof with a new one. One can save money in fixing roofs, as it takes a little less expense to add layers to the roofs as compared to full replacements. You need to check attics, ceiling faults and skylights in the roof and give a good check for leaks if you truly want to enjoy the best real estate investments.

One may have to replace the old heater with a new one if there are problems seen with the existing one. The price of good furnaces starts from $5,000 and may be higher by about several thousand dollars if you add an air conditioner along. If you have an old one, then you’ll be in need of replacing the furnace with an air conditioner if the furnace is older than 10 years.

Working with a professional and experienced real estate agent may be best when you are serious looking for a good deal on new houses. Agents have trained eye for spotting potential problems in a house. If not, an agent can refer you to a qualified appraiser who can help you establish the real value of the property that you want. By employing the services of an expert appraiser, you will be able to gauge if you are entering a fair deal in the market. Without one, you can easily get into the trap of buying something that’s not worth your money.

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Can’t afford to buy a Home? Consider Co-Buying. (2019 Update)

With skyrocketing prices of property today, most individuals can not afford investments in real estate. That’s why more people are looking at pooling their resources with the objective of making investments in real estate. For young adults looking to start life on their own, or for family members wanting to capitalize on associated tax breaks, co-buying with friends and family offers a great option for making investments in real estate.

Brian Free did not have a large enough block of money for a down payment for a home. And neither did his friend. But they realized that by aggregating their limited resources, they would be able to make investments in real estate in a neighborhood that they liked.

Like any investments in real estate however, financial dealings between friends and family need to be well thought out and carefully executed. With some planning and a little bit of knowledge, there’s no reason why co-ownership of investments in real estate cannot be a success.

Make decisions about holding title

This decision will dictate rights related to investments in real estate around signing of legal documentation as well as transfer of property ownership in case of passing of one of the co-owner. For married joint owners, title may pass through tenancy by entirety or via community property. Title for investments in real estate by non-married co-owners can be handled as JTWROS (or Joint Tenants With Right of Survivorship) or via TIC (or Tenants in Common).

Difference between TIC and JTWROS

JTWROS is applicable if all co-owners have an equal share in the investments in real estate. When one of the co-owner passes, their share of the investments in real estate passes on to the other surviving owners. The sole surviving joint-owner will ultimately own 100% of the investments in real estate.

In the case of TIC, ownership in investments in real estate may be shared equally or unequally, as each of the multiple owners possesses a separate title to the real estate. TIC does not confer a right of survivorship, and therefore title in investments in real estate does not revert to the last surviving joint-owner. Instead, each owner of the investments in real estate may bequeaths his/her share of the property via a will, potentially resulting in the surviving owners sharing ownership of the investments in real estate with people they don’t know or like.

The law does provide for TIC investments in real estate to be dissolved, either by inter-owner buyouts, outright sale of the property, or a partition action by one owner to sell the property.

Similarities between TIC and JTWROS
TIC and JTWROS both confer equal rights when it comes to possession. In other words, occupancy and usage of the property is assured to each owner of the investments in real estate. And in the event that the property is rented out, both TIC and JTRPS entitles all a proportional share in rental income based on their respective percentage ownership in the investments in real estate.

Make a formal agreement before co-owning
When planning investments in real estate on a co-ownership basis, make sure the understanding between all partners is formally documented before making the transaction. While the thought of co-owning investments in real estate with friends and family members may thrill you initially, with co-ownership also comes the possibility of disagreements. Entering into a Co-ownership agreement before making investments in real estate will ensure all the rules are documented to cover any foreseeable disagreements.

At minimum, address the following 3 items in any Co-ownership agreement:

Determining percentage of ownership
In the case of JTWROS, each co-owner gets an equal share of the investments in real estate. TIC may have various options, including proportional ownership based on contributions towards the down payment to acquire the investments in real estate.

Decisions around regular property expenses
Investments in real estate will entail regular and ongoing expenditure – bills, taxes, repairs and maintenance. These should be clearly spelt out in the agreement, and can either be made proportional to each co-owners percentage of ownership of their investments in real estate, or can be based on a period of time that each owner agrees to spend managing the investments in real estate. Using a joint checking account to pay various charges and bills might be a great idea to simplify this aspect of joint-ownership.

What if one co-owner wishes to sell?
There is no legal requirement for co-owners in investments in real estate to sell their share only to parties approved by the other owners. However, clauses in the agreement can be built to allow other co-owners the right of first refusal in case one of them decides to sell their investments in real estate.

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Creating Bathrooms that Sell Houses (2019 Update)

If you are already decided to sell your home, you should know that you are in for a lot of preparation to make your house attractive to people who wish to venture in investing in property. The most obvious place to start is the exterior of the house. You would want the property to call attention and to attract serious property buyers. As such, you need to present a neat and beautiful façade so it would merit a second glance to passersby. However, presenting an attractive house exterior is not the end of it all. You need to sustain the excitement and good impression of buyers as they enter the house.

Inside the house, there are a lot of things you should prepare for buyers’ inspection. Aside from the living room, which if the first thing that they would notice, a lot of serious property buyers would be demanding to look at the bathroom. This is one important part of the house that deserves your special attention if you wish to get more purchase offers. There is an interesting trend nowadays among people investing in property; and that is, majority of them consider the bathroom as their second most favourite place in their home especially if there’s one in the master’s bedroom. In fact, even ordinary people take the time to regularly reward themselves with luxurious baths, steam showers, and relaxing music — right inside their bathroom! Modern bathrooms are decorated both with comfort and luxury in mind. They are equipped with multiple shower heads, towel warmers, and spa facilities. Potential home buyers will definitely take note of the condition of your bathroom so if you believe it is a little outdated, you might want to get into a bathroom remodelling project to increase your chances of finding a buyer for your house.

Investing in property that you seriously intended to resell is imperative if you wish to command higher resale value. Spending for renovation and improvements are part of things you need to do to maintain good quality of the house. Here are few of the improvement ideas you can consider to create a bathroom that’s sure to impress buyers:

• Whirlpool bath is the “in” thing these days. However, if you feel that it’s way above your budget, simply replace your bathtub with a new one. Grimy tubs are a real turn-off to prospective house buyers.
• New flooring can give your bathroom an instant new look. Invest in new tiles and replace your old vinyl. There are so many colors, styles and designs to choose from. Have the tiles installed by professional installers.
• Vanity cabinets are essentials in a modern bathroom so make sure you have one in yours. This will create a neat look in your bathroom as all your personal bathroom paraphernalia can be stored in these cabinets instead of being left lying around.
• Take a quick look at your toilet and see if it needs replacement. You might be interested in getting a new model that makes use of less water. This feature would certainly appeal to most buyers.

When investing in property, you don’t necessarily have to spend a fortune for renovation projects. Be creative and find ways to achieve beautiful improvements in the property without creating so much dent on your pocket. Here are a few cost-efficient ways to keep a bathroom looking at its best:

• Paint your bathroom. This instantly creates a new look to your bathroom even if you don’t have so many brand new fixtures installed. Light-colored paints can give the impression of a wide space, so you might want to stay neutral and go for the more popular light blue and light green hues.
• Keep the bathroom well-lit all the time. This is especially needed near mirrors when home owners have to apply make up, brush their teeth, or shave.
• Invest in simple yet beautiful bathroom accessories. You can have wall frames, decorative candle holders, and vase with fresh flowers inside your bathroom.

Last, but certainly not the least, tidy up your bathroom. Keeping it clean and smelling good all the time can catch attention. Clean the mirrors, floors, and sink. Wipe off water residue and place a scented candle somewhere for the final touch.