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Home Inspector
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Percentage Leases - Real Estate Investing
Multiple tenant commercial real estate buildings that house retail shops or shopping malls are usually leased to the different tenants. They operate several diverse businesses under the same roof using a percentage lease. In a percentage lease, the owner is paid a base rent plus a percentage of the tenant's gross receipts. The rent is determined by the amount of business done by the lessee. This t... Read real estate article
Finding Land to Build Your Home
Zoning In
Once you understand what is important to you, gain an understanding of your local area's land-use plans and zoning requirements. Otherwise you could end up buying a beautifully wooded, tranquil lot that is slated to be four blocks from a new six-land road and strip-mall - one that's suddenly a lot harder to sell than you anticipated ten years earlier.You can usually review the... Read real estate article
Home Inspector
If you are interested in purchasing a home, you should call in a home inspector after you have signed your purchase agreement or contract. But, be sure the contract includes a clause stating that you are not obligated to purchase the home if you are unhappy with the results of the home inspection. In addition, your clause should list any obligations of the seller and the buyer following the inspection.
In most cases, the home inspector should be able to inspect the home within a few days after you call. Although a home cannot "fail" inspection, it will provide you with a list of the problem areas of the home. It will also name the necessary repairs or items that need replacement. In addition, a home inspection is not the same as an appraisal, so don't expect to be provided with a fair market value of the home following the inspection. Rather, you will simply get an evaluation that describes the condition of the home.
If at all possible, you should be at the home at the time of the inspection. While it is not necessary, you can learn a great deal by following the inspector as he or she evaluates the home and asking questions. This will help you learn more about the home and how the systems within the home work. For many people, being present during the evaluation also makes it easier to follow the written report once it is completed.
You should not be shocked or dismayed if there are some problems reported in the final evaluation. Even a new home will have flaws. As such, a few problems with the home is no reason to back out of purchasing it. At the same time, you might want to go back to the bargaining table with the seller if the imperfections are substantial. You also need to be realistic with yourself about your available budget and determine if you will be able to afford the repairs that will be necessary for the home. If you cannot, it might be time to start searching the market again.
It is important to keep in mind that a home inspection is not a guarantee that you will not encounter problems with the home in the future - even if it does get a clean bill of slate. If you do run into problems that you believe were present in the home at the time of the inspection, you can meet with the inspector and question the inspection.
Often, the home inspector can clear up any confusion that you may have. If you feel that the inspector did a poor job with the home inspection, you can also enlist the services of a local mediation service. You may be able to recover some expenses due to negligence, but be sure to have a solid case because litigation can be quite costly and is usually a difficult process.
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Uses of Land and How to Best Profit From Land Investments
Many people are interested in Real Estate Investment, but believe they need huge loans to start off. This simply isn't true. Unlike homes, ready to build lots are priced low, than appreciate and sell for more.
1- Investment- Just like poeple will always need doctors, people will always need land. A doctor cures a person, while land is needed to live on. What does this mean? History has shown that there is always an immense interest in land. Thus, the saying "Don't Wait to Buy, Buy Now and Wait" applies here.
2- Moving into a new area. For example, if you've lived in Los Angeles for many years and are ready to retire, there are many benefits to selling your home, finding a great subdivision elsewhere that suits your needs, and building your own dream house on it. You will save immensly doing this.
3. Incredible Experiences- LakeFront, LakeView, and Golf Course Land is in high demand these days. The reason for this is simply the fact that there are so many fun activities in these areas, leading to higher interest in the subdivision.
4- Buy and Flip- This is a hard, but useful way to make significant money. Simply find somebody interested in a lot your about to sell, and pocket the middle man's cut.
5- Recreational Land can be used for all types of fun activities. Even though you cannot buid a house on recreational land, you can still make all the precautions in the event the land is rezoned. Because recreational land usually sells for less than residential land, having recreational property turned into residential property can be very profitable.
6- Ranch Land- Here you can own a house, among other shelters, while hurding animals Ranch Lots are huge and meant to be that way so that the natural life doesn't disappear.
7- A gift! Yes, thats right, buying land as a gift has grown, and even non-investors like the idea of owning a peice of property in the United States.
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