STEPS TO SELLING YOUR HOME

 

Selling your private property is something private as well. It requires courage and confidence. Here are some steps that will help you to sell your home

1.    Look at your home condition. This is the first step that will make you easier to get a buyer. Buyer or consumers always need a first impression. The physics of your home, inside or outside, is very important to make them contact you for the price. So, make sure you have a property that is clean, neat, and well-cared. Who wants to buy a home with filthy condition? Repair the leakages and re-paint the walls will make your home even nicer and attractive.


2.    Price your home. How much do you want to worth your home? Of course it depends on your home physics and external supports. External supports mean the neighborhood and public access. The more accessible and nicer neighborhood will definitely in demand and can be considered plus points for your home. Also in pricing your home, it is important to look at the market. How does the market say? Market can be a good step point to set your home price. As an additional tip, always open for negotiation! People like to bargain.


3.    Advertise your home. Advertisement is always effective in getting consumers. Many ways to advertise your home:
a.    Advertise your home on the newspaper. It requires extra budget, but it is worth lots of people to read your advertisement.
b.    Put an announcement board or banner in front of your home. This will make everybody who crosses the street to know your sale and perhaps tell it to their relatives. The bigger the banner is the better.
c.    Print lots of brochures or leaflets and disseminate it in public places. And do not make the information narrative; just a few pointers that has your home picture and contact number on it.
d.    Tell your friends and relatives. This could be the easiest way to advertise your home. I personally do not prefer friend/relative-related consumers, but as long as they can give you a good price, why not?  And also, friends and relatives are usually kind enough to help us to look for buyers. That’s what friends are for, right?


4.    Use a broker service. Broker service will help you to market your home even better since they have lists of potential buyers. They are definitely the expert to help you in negotiating with buyers and basically arranging your home sale (from the first step). You can call them as the middleman. If you do not want to waste your time, you could just contact few brokers and ask for their services. The consequence is you have to share a certain percentage of your home selling price with them. So, if you do need to sell your home very soon, I would recommend this strategy.

Good luck in selling your home!

Flat Hunting Tips

Flat hunting can be very daunting for some potential renters. Often the variety of options available to these renters is a source of overwhelming frustration for the renters. With so many appealing options it can be difficult to choose just one. However, there are some tips which can help to ease the process of apartment hunting. The process of finding the perfect apartment can be broken down into three simple steps. The first step is to set a budget. Next the renter should research their available options and then comparison shop to determine which option is the best.

Set a Budget First

For many renters the most important consideration is how much they are willing to spend on an apartment per month. For this reason it should come as no surprise that the first step in the apartment hunting process should include establishing a budget. Renters should consider their monthly income and subtract out all of their monthly expenses from this amount. Monthly expenses should include all bills which are paid regularly as well as money spent on food, entertainment and miscellaneous items each month. The renter may also wish to subtract out an additional amount to allow for some savings each month as well as emergencies. The total left after these subtractions is the amount the renter is able to spend on an apartment per month. Once this amount is established the renter will have a better understanding of the type of apartment they are able to afford.

Research Available Properties

Once a budget has been established, the renter should begin researching the properties which fall within his budget range. It is likely to consider properties which are slightly above the range as well as properties which are slightly below the range. Doing this will allow the renter to see if there is an opportunity to either make improvements on the amount of monthly spending to allow for the renting of a more expensive property. The renter can also determine whether or not they feel there is the opportunity to negotiate a lower rental rate on a particular property.

When initially researching properties, the renter does not necessarily have to visit each property. Most of the pricing information can be obtained from resources such as Internet websites, newspapers and rental magazines. Since pricing is the primary concern at this point, the initial research will enable the renter to eliminate properties which are too far out of their price range.

Comparison Shop

Once the renter has narrowed down his list of possible apartment complexes to a more manageable number it is time to start visiting these properties. It is during this step that the renter will really get a feel for the quality of the apartment as well as the amount and quality of amenities offered by the complex. This is very important because this information can be used to decide between properties which are otherwise very similar.

The comparison shopping process is also worthwhile because it gives the renter some bargaining power in negotiating more favorable rent rates. Renters who have visited a number of apartments likely have a good idea of the going rate in a particular area for a particular size apartment. These renters can use this information to potentially convince some leasing agents to lower their prices at least a little bit. There will not likely be huge drops in price from these negotiations but it will likely be enough to be considered worthwhile.

Estimate Your Mortgage Payment

A Home is the single largest investment most of us are ever likely to make. This Chart can help you get an understanding on the challenging cost of a home by helping you estimate the monthly payment on a 25-year fixed rate repayment mortgage. The figures in the left-hand column are annual interest rates. The headings across the top are loan amounts, - typical 80 to 90 per cent of the purchase price. So, if you're putting down 20 per cent of £250,000 home, look in the £200,000 column at your interest rate to find your monthly payment. (Be aware that these figures don't include other required payments, such as insurance. Nor do they include tax relief.)

Note: For loan amounts not listed, look in the £100,000 column at your interest rate and multiply by the appropriate factor - for example, for a £189,000 loan, multiply the mortgage payment by 1.89.

Make an Offer on a House

So you've found your dream home, looked it over carefully, and are now ready to make your offer. Here are the steps you'll need to take.

Step.

1. Consult a lender or mortgage broker to find out how much you can afford to spend on a house, or use a calculator on a financial website .

2. The amount you can borrow will vary from lender to lender, and will depend on whether you are taking out a mortgage on you own or a joint-mortgage with a partner (or co-buyer). A typical figure for the UK is three times to four times ones income, or two to three times a joint income.

3. Know how much you have for a deposit, This will usually be at least 10 per cent (in some cases first-time buyers may be able to secure a 100 per cent mortgage).

4. Decide what type of financing you require.

5. Know how much money you have for a down payment, normally 5 to 20 per cent of the purchase price is required, depending on the loan terms.

6. Make an offer to the vendor (or vendor's estate agent).

7. When approved, contact your solicitor to deal with contractual issues.

8. Now is the time to make a formal application for a mortgage.

Warning,

Consult a solicitor before you sign anything, What you agree to could severely limit the remedies available to you by law !!!!!!!!!!

Evaluate a Neighbourhood

Property experts always say that the three most important things to consider when evaluating a property are location, location and location. That's because a home in a fashionable area with convenient shopping and good schools nearby will hold its value far better than an identical home in a less popular neighbourhood. Of course, it will also be much more pleasant to live in, Ask these questions to determine the quality of the neighbourhood you're considering, and to evaluate other local factors that go into making a house a good home - and a good investment.

o   How well do residents keep up their properties?

o   What is the ratio of renters to owners?

o   How far away is the nearest shopping area? Is it easy to get to at the times you’ll need to go?

o   What is the quality of the local schools?

o   Are local streets well-maintained?

o   How much traffic nearby? Will it take you where you want to go?

o   Is there a motorway or major road accessible from the area?

o   How close and accessible are cultural and entertainment facilities – theatres, museums and sports arenas/area?

o   Visit the area after nightfall. Does it feel safe? How noisy is it?

o   Check with the local police station or on-line (http://www.police.uk/). How much crime is there in the neighbourhood?

o   Check with local organisations. Is it a neighbourhood watch area?

o   Check a map. How far is the nearest fire station or police station? (Google maps/Street map are usually a good place to start).

o   Is there emergency medical service in the area?

o   How far away is the nearest hospital? Is it close enough for your needs?

o   Is a fire station or train station so close as to cause noise pollution?

o   If you are looking at a flat, check out any rules or regulations affecting the block, how do these fit in with your own style of decorating or living?

o   Visit the council offices, Are any major new developments planned? What impact will these have on traffic, noise and school systems? I have found that there is a web portal on every Council website that shows current planning permission and those that have been approved or negated.

o   Also check bus routes, and how far they are away from your house/flat?

o   Also is there a good taxi service in your area?

o   And lastly, as a nation of Curry/Chinese/Pizza lovers – How close are these to you?

Buy a Property at Auction

Buying at auction is one of the few ways of getting a bargain on the property market - if you don't mind taking a few risks.

Steps.

1. Scour the internet for specialist property auction site - all of the established auctioneers will have an online presence. (Enter something like "property auctions UK" into any web search engine.)
The first listing is ideal, so to help you I will give you the link to the site: http://propertyauctionaction.co.uk

2. Make sure you have the finance in place beforehand. You are unlikely to get an agreement for a mortgage on an auctioned property. (I know its self evident, but some of us forget the small details !!)
(Although you could buy using a loan - with a substantially higher interest rate - and then get a mortgage to pay off the loan once you have purchased the property).

3. Order a catalogue for any upcoming auctions that interests you. (There is usually a substantial charge for these).

4. Note the details of any property that interests you. It will be listed with its 'reserve price'  - the lowest price the vendor will allow the property to be sold.

5. Visit the property. If you intend to bid, have a professional survey done beforehand. This will reveal nay major structural problems, and give you an estimate of its actual market value.

6. Before the auction, decide on the maximum figure you would be prepared to pay. Don't (and I mean Don't) go above it - it's easy to get carried away in a bidding war.

7. At the auction, place bids by raising your hand. Some auction houses will allow bidding via the telephone or the internet.

8. When the gavel comes down, if your bid is the highest you are deemed to have made a LEGALLY BINDING CONTRACT.........!!!!!!.

9. Be aware of what is covered by homeowners' association insurance and what the association is responsible for, such as roofs, common areas, and landscaping.

Tip.

If a property you buy at auction turns out to be a dud, you have little comeback. This is only a route for risk-takers!

Shop for a House Online

The internet offers a myriad of opportunities for house hunting, especially if you are looking to move into a new area.

Steps

1. Decide on a location. Property web pages usually give you the choice of search by country, town or postcode.

2. Decide on the property type and age of the house, or other features, such as a number of rooms.

3. Surf the internet for sites that offer listings, such as Zoopla (http://www.zoopla.co.uk/)  or Rightmove (http://www.rightmove.co.uk/) - or the web pages of estate agents operating in the area that interests you.

4. Contact the agent listed if you see a house that fits your criteria. Ask for further information, such as the property details or the schedule.

5. Set up an appointment to meet the agent if you are still interested.

Tip.

Request email update on available houses and additional information about the community you're considering.

Use an Estate Agent to Buy a House.

The easiest way to find the house of your dreams is to use the services of an estate agent.

Steps

1. Look around areas that interests you. If you see a suitable property make a note of the address and the name and telephone number of the estate agent. Even if you fail to buy that property, the estate agent may have others on their books that are suitable.

2. Buy a local newspaper and take a note of all the estate agents in the area. Register with each one.

3. They will ask you for a detailed specification of the types of property and price range that interests you. Remember, the better you define your requirements, the more likely they will be to find you a match.

4. A good agent should know the local area well, and be able to show you examples of similar properties they've sold recently.

5. If you want to to look at a property, contact the estate agent to arrange a viewing.

Tips

You generally don't need to pay an agent who is helping you buy a house - the fee is paid by the vendor.

Get all agreements in writing.

Determine How Big a Mortgage You Can Afford.

Before you look for that dream house, you need to ask yourself what you can really afford to spend each month, and how much a mortgage lender is prepared to lend.

(as a side note the word Mortgage is a french word generally derived from two latin words 'mort' (meaning death) and 'gage' (meaning pledge or something of value that's forfeited if the debt is not repaid).

 Ecclesiasticus 21:8 (Septuagint - Apocrypha), "He that buildeth his house with other men's money is like one that gathereth himself stones for the tomb of his burial." , and hence that is why Jesus had a problem with money-lenders. So please be careful, and get as much information as possible before borrowing.


Steps

1. Before you begin house hunting, consult a building society, bank or mortgage broker to find out the maximum loan you are likely to have at your disposal.

2. Be Aware that the amount you are allowed to borrow will vary from lender to lender. This will depend on  your personal circumstances, such as regular income or assets. A typical figure for the UK would be up to four times a single annual income (although multiples of six have been known in recent years) or 80 per cent the value of any owned property you intend to mortgage.

3. The maximum value of your loan will also depend on whether you are taking out a mortgage in your name, or joint -mortgage with a partner (or co-buyer). A typical multiple is two-and-a-half times the combined annual income.

4. To work out the maximum value of any property you can buy, take your mortgage ceiling and add the amount you have saved in cash to use as as a deposit (or the money you will have at your disposal following the sale of your current property).

5. To make a quick approximation of your monthly payments (To do this you need to know the mortgage amount, the pay-back, and the interest rate.)

6. Add to your monthly payments, the cost of mortgage insurance, any land rent or service charge associated with the property, Council Tax for the area (you'll need to know the Council Tax band for that property) and an estimate of the utility costs, such as gas, electricity and water.

7. Compare this figure with your monthly net income to work out whether the mortgage is affordable.


Tips
If you have regular monthly debt payments (for example, car loans or credit cards), take these into account when determining that bottom-line affordability figure.

Warnings
Lenders can only tell what you might be able to afford based on your salary and debt level. You also have to feel comfortable with the reality of the monthly payment.

Don't assume that you can cut back your expenses and stretch yourself into a house payment. You can only live on beans on toast for so long.

If you take out a variable rate mortgage, be aware of the possible impact of a sudden increase in interests rate, (currently they are low, but UK's borrowing is known be around the £5 Trillion mark, a figure which has been kept very hidden, the Government spends about about 250% more than they get in collection of Tax revenues, so hence be very careful with regard to variable loans, as in Argentina in the 90s, when interests rate went through the roof and it got a little desperate over there with their currency, and they are still trying to recover!!!!!!).
When rates are around 3 per cent, a 25-year £200,000 repayment mortgage will require around £948 (currently- April 2013)  a month to be paid. If the interest rates creep up to 6 per cent, your monthly repayment will increase to around £1289. Can  your income sustain such an increase?

Buying a house

You'll do a lot of house-hunting, deal with estate agents and building societies - and then hope the seller accepts your offer.

Here are a few steps to help and guide you to buying your next home:-

1. Work out how much you can afford to pay for your new house. Consider your deposit, stamp duty, estate agent's fee, mortgage, and buildings and contents insurance.

2. Decide where you want to live. Think about how long it will take to commute to work, local schools, and the re-sale of the houses in the area.

3. Think about what kind of house you want. Do you want a newer house that requires little or no refurbishing? Would you prefer an older house with character that might require some repair work? One floor or two? Are you interested in a flat, terrace, semi-detached or townhouse?

4. Register with Estate agent. Have the details of properties that fall within your brief sent to you. Visit any property that interests you: the more houses you look at, the better idea you will have of your likes and dislikes. This will help you filter out future choices.

5. You don't have to buy through an estate agent. Many people prefer to sell privately, advertising in new-papers or magazines.

6. Find a lender - usually a bank or a building society - and arrange to have pre-approved for a mortgage. A dedicated mortgage broker may be able to find a deal more suited to your needs - but you will be charged for the service.

7. Find your ideal house and make an offer.

8. Any mortgage lender will insist that you have the prospective property surveyed. (if you are paying the full quantity in cash you should still have the property surveyed.)

9. Hire a solicitor specialising in buying and selling property. They will perform the necessary searches to prove that the property is registered in the name of the vendor. If you choose not to hire a solicitor you do this for yourself - although possible, it is also time-consuming and arguably not worth the money you will save.

10. Agree a date in which you can take possession of the property.

11. Once your solicitor has exchanged contracts with the vendor you can move in.

Tips
Be patient. Find a house that fits your family's needs can take some time.

House values fluctuate with the ups and downs of the economy.

Buying a house is likely to be the biggest single investment you'll ever make. CHOOSE WISELY.

US property details -

I have also access to US property market for the following:-

Homes for sale
Homes for sale by owner
Foreclosures
Open Houses
New Houses
Recent Home Sales
Apartments to Rent
Houses for Rent
Mortgage Rates

and a host more information that you might require for all of the US.

House and Flat Moves across UK for March 2013 - Try it for Free

I have March 2013 House and Flat Moves, try this for a month FREE and see if you have any success with it.

Please send an email to MWWALLACE50@GMAIL.COM

Here's an example of the Spreadsheet.