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Commercial Real Estate - Asking the Right Questions
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Commercial Real Estate Services
While commercial real estate can be an excellent investment, it's all but impossible to succeed in this competitive environment without some sort of game plan. The most successful professional real estate investors are those who are able to look at a given area and accurately predict which parts of a given city are likely to experience the most growth in relation to other areas in or near that cit... Read real estate article
Real Estate Investing Benefits
If you've ever played Monopoly, you already know that you can't go wrong investing in real estate. Compared to stock market investing, real estate investments are much safer and less affected by economic downturns. But the advantages of investing in real estate don't stop there. Real estate investments have at least six indisputable benefits that will make a positive impact on your bottom line.
Commercial Real Estate - Asking the Right Questions
There are many "insider" commercial real estate secrets. One of the most important secrets is knowing the right questions to ask when investigating a commercial property investment. While I'm not going to cover all of the potential questions in detail, I will make you aware of some of the key issues. I'm also going to suggest some places to go for assistance.
Investing in real estate is a complex process. Unfortunately, far too many people jump into this complicated marketplace without the knowledge, training, and tools needed to be successful. It doesn't help that we have hundreds of self-styled "gurus" selling the latest no-money-down-get-rich-in-three-minutes programs to confuse and demoralize the un-initiated when things don't work out "as advertised." These first-time real estate investors are often disappointed in the results they achieve and as a result, often abandon real estate investment entirely without realizing just how lucrative it can be.
Asking the right questions can greatly increase your probability of success, as can learning as much as possible about the world of commercial real estate. This is not an overnight process. One of the best place to start is to learn about your local commercial real estate market. In fact, being aware of the status of your local market can literally be half of the battle.
For example, when purchasing land it's important to understand that the price of particular parcel varies according to a number of factors. These can include the relative abundance or scarcity of similarly sized and located parcels, the population's growth trends for the area, and the proximity to good employers. Raw land buyers need to ask plenty of questions about such factors as local zoning laws, land use restrictions, utility easements, traffic patterns, other planned development, the permit process, and other issues. The answers to these questions can have a profound impact on the purchase price of the land and its final, developed value. Where do you go? Your city planning or building department is a great place to start, as is the local utility company. Also check in with a title company or active escrow company for contacts at the city and knowledge in their specialties.
These aforementioned factors are also important when it comes to buying existing commercial real estate, including retail, office, warehouse, and mixed use properties. Knowing the restrictions on building and use of property is essential to successful real estate investment, so investors need to learn where, how, when, and of whom to ask these questions.
One of the next best places to turn to for the answers is a commercial real estate agent, called a "broker," familiar with the area in which you have an interest. You can even ask the broker representing a specific property. But, when asking your questions of a broker representing a specific property keep in mind that he or she is working for the seller of that property, not you. A local bank loan office or independent mortgage broker are good sources to consult for alternative opinions. Investing in commercial real estate isn't too different from investigating a crime scene. You need to ask tough questions and find the evidence to back up the statements. It can sometimes be a tough process, but asking the right questions will only increase your chances for a profitable transaction.
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Buying a Property at Auction
Auctions in Tenerife - are a pioneering auction company that allows people selling property to come into direct contact with those looking to buy property in Tenerife. Our new and unique online bidding system allows prospective buyers to view property and bid online for any property on offer. There are no closing dates on the auction and all bids are forwarded onto the vendors for their perusal. All successful bids will be notified immediately.
Situated in Callao Salvaje on Tenerife's south coast, Auctions in Tenerife is a Tenerife company which has been set up by Les Calvert Director of Property-Abroad.com Ltd (UK) and PropertyinTenerife.com one of the largest independent property Portals on the internet with over 50,000 properties featured from over 45 countries.
With over 20 years in the Spanish and overseas property market Les is well placed to offer not only advice on the local property market but also on the wider scale of opportunities across the world. Our aim is to bring Property Auctions in Tenerife out in to the property market arena by holding free and 'open to the public' auctions online. We will feature properties for sale by auction from private sellers, estate agents and any other leading institutions be it Residential or Commercial.
Please feel free to browse around our website and if you feel that you would like to try our services for buying, selling or auctioning your own property then contact us now for a friendly chat.
Whatever your needs are regarding buying, selling or auctioning property in Tenerife, Auctions in Tenerife will be able to assist you and with an Aftersales Service second to none you are sure to enjoy the experience of owning a home abroad. In addition to our Auction Property we also have access to thousands of resale and off-plan properties for sale throughout the island.
Some FAQ's to ponder:-
1. Why buy a property from Auctions in Tenerife?
We only feature properties that represent great value for money in today's market.
We only feature clean titled properties.
We are the only free and transparent Auction House in Tenerife.
We don't charge a buyers fee.
2. What are the advantages of buying property at Auction?
The opportunity to acquire a property at below market valuation.
When the right price is achieved, you know it's yours.
No complicated chains.
Sales are normally completed within 28 days.
A wide choice of properties on which to bid.
Your purchase price is governed by you.
An open and secure method of buying property.
All legal documentation is clean and available.
There are no hidden costs.
There is no hard sell you are in complete control.
3. Who can buy at Auction?
Anyone can buy at our Online Auction. The website is global and anyone can bid from anywhere. All bids are put forward to the owners and once a bid is accepted the sale proceeds from there.
4. How do I bid online for a property?
Bid on your selected property using our Make An Online Bid for this Property link accompanying every property.
You can inspect the property at any time and arrange a valuation if you need one.
Property documents are available for checking in person prior to the sale.
NB: If you are successful you will need to send a €1,000 euro deposit once your bid has been accepted. You will then have a further 14 days in which to make up the remaining 10% deposit of the purchase price
If you are successful then you will be contacted by us to make the necessary arrangements for purchasing a property - we will guide you through the process.
And remember, if you have been unsuccessful then - please try again
Please note that whilst Auctions in Tenerife take every precaution to ensure the property and its details are correct, we can not be held liable for any misleading information given by the property vendor or his agent. Properties are bought via Auction at the buyers risk and the buyer is deemed to have taken legal and professional advice.
5. What is a Guide Starting Price?
A guide starting price is what we expect to start the bidding price from.
6. What is the Reserve Price?
In agreement with the vendor a minimum sale price is set, this is known as the Reserve Price. It has been known that vendors do sometimes lower their reserve price. All reserve prices are in confidence with the vendor.
7. How can I pay for my property?
If you are successful then you will be contacted by us and the buying process will be the same as a normal property purchase in Spain but our team will guide you through the buying process. Purchases can be paid for via a mortgage, loan or cash as you prefer.
8. How do I bid online?
Bidding on line is very simple and straightforward. Search through our auction property and find the property that you would like to bid on. Underneath every property in the auction section is a link to place a bid online "Make An Online Bid for this Property" simply click on this link and complete your details. NB: Your bid will need to be higher than any previous online bid if shown. We will then pass your bid onto the vendor and inform you of their decision. If the vendor accepts your bid we will need your deposit and we can then begin the purchasing process.
9. Can I view the Properties for Auction?
Yes, simply contact us to arrange a suitable viewing date and time.
10. Do you arrange inspection tours?
We do not arrange inspection tours but we can arrange for viewings and assistance with finding flights and accommodation locally.
11. How long before I complete the sale?
The sale process can normally completed within 1-2 months but in extreme cases this can be extended.
12. What are the costs of buying at Auction?
Other than your normal legal costs - which your lawyer will advise you of there are no further costs involved. Auctions in Tenerife do not charge any fees to the buyer and entrance to the auction is free of charge.
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Commercial Real Estate - Asking the Right Questions
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