ESTATE IS FOR SALE ON MYSORE CALICUT ROAD at Bangalore

ESTATE IS FOR SALE ON MYSORE CALICUT ROAD

120 acres of plantation land,

Converted plantation land

Has a very good approach road

Freehold (owned by Company)

Immediate Settlement

Clear Documents,

60 kms from Mysore city, 45 kms from Mysore airport (one hr drive)

200 kms (4hrs drive) from Bangalore

Located at Bangalore-Mysore-Calicut National Highway Road

Situated at Gundlupet Taluk, Mysore District

Additional Information :

Well Established, well maintained, 10 year old estate. Estate is covered under Coffee, Areca nut, Black Pepper and silver oak trees. The whole plantation is well fenced with barbed wire and very well protected. Crop yielding plantation (Approx. One Crore crop yield per annum. All are well grown and in the yielding condition. Over 10 bore wells with the electric pump sets (KEB connected) with support generator. Drip and sprinkler irrigation system are in place with good working condition. There is enough water in the bore wells to irrigate the whole plantation at all times. Extensive modern infrastructure facilities have been built and maintained very well. One multistoried (0-1-2 floor) office cum staff quarters building along with 5 labour quarters. There is a garage for all type of vehicle with godown for inputs and implements. There is a raised and cemented drying yard.

Price : Rs.20,00,000/- (Rupees Twenty Lakhs Only) per acre

Total Price : 24 Crores

BROKERS PLEASE EXCUSE,

Enquiries from genuine direct parties only considered.

Proof of financial status for buying property from the buyer is expected.

Contact :

G.K.SERVICES

Real Estate Consultants,

No.37, Krumbiegal Road,

Near Lalbagh main gate,

Mavalli,

BANGALORE-560 004

KARNATAKA, INDIA

Tel : 091 – 80 – 32432582

Mob : 091-9740931961

Email : realestate_gkservices at yahoo.co.in

WONDERFUL PROJECT IN J.P.NAGAR 5TH PHASE NEAR DELMIA CIRCLE

READY TO OCCUPY 3 BHK FLAT FOR SALE IN J.P.NAGAR 5TH PHASE NEAR DELMIA CIRCLE
WITH ALL TOP CLASS AMENITIES.

FLOOR : GROUND FLOOR.

AREA : 1626 SQ FT.

PRICE : 64 LAKHS (SLIGHTLY NEGOTIABLE).

FOR MORE DETAILS CONTACT

LATHA @ 9141378680.

Phone: 9141378680

Region: Karnataka, INDIA

Residential Plots for sale at VASANTHAM GARDEN in Chennai

VASANTHAM GARDEN

Approved plots available at VASANTHAM GARDEN in Sriperumbudur. Just 4km from Bangalore Highway and 3kms from NOKIA back entrance. Per sqft Rs.250.Best Suited for Investment in high appreciating layout.

Contact: Parveen,9600901370.

Phone: 9600901370

Web Site: jemi.org

Region: Tamil Nadu, INDIA

Home Insurance Claim – Home Insurance Companies In India

Owning a home in India was a dream before because of the lower living standards but as the living standards increased additionally, the real estate rates increased exponentially. So it still remains a dream. But if you own one you would certainly do anything to protect it. The home owner certainly counts his home as his biggest asset. So protecting the dream home has become a mandatory practice for all homeowners. The home insurance companies provide aplenty options and schemes to ensure the safety of your prime possession.

The general practices involved in home insurance as followed by the home insurance companies in India:

Areas Covered Under Home Insurance

The home insurance policies protect against various natural and man made disasters including:

◦Thefts and Burglaries

◦Fire

◦Earthquake

◦Floods

◦Explosions etc.

Calculation of the Home Insurance Premium or Amount

The factors to be kept in mind while calculating the insurance premium and accepting the home insurance quote being offered by the home insurance company are:

◦Area of the House (calculated in sq.ft.)

◦Location and neighborhood

◦Approximate rate of construction (calculated in Rs. Per sq.ft.)

◦Permanent construction on the land

◦The time period offered for the insurance premium (monthly, quarterly or six monthly depending upon the insurance amount) Property more than 50 years old is not covered in home insurance

◦The insurance policy offered is standard or flexi covering

Home Insurance Claim

In case of the above-mentioned disasters, the home insurance companies settle as quickly as possible. For customer care 24 hr helplines are also being set up to fasten the claim procedure and provide better customer service. The claim settlement procedure home insurance includes:

◦Personal information like the contact details

◦Details of the policy undertaken

◦Inspection of the site by the company appointed surveyor

◦Claim is processed within two weeks of the complete documentation

◦Approval of the claim letter is sent to the claimant with the settlement amount approved

◦Payment of the home insurance claim cheque.

Documentation

The home insurance companies follow a fixed procedure to settle the insurance claim. You are required to submit completed documents in order to fasten the claim procedure. These include:

◦Duly completed and signed claim form

◦Copy of the FIR

◦A Final Police Report

◦Copies of all invoices, price lists

◦Letter of indemnity

Below mentioned is a comprehensive list of the top home insurance companies in India. All the companies offer varied insurance policies and quotes with attractive premiums to suit your needs. Choose wisely and ensure complete documentation of all the offers and quotes made. Also refer to the home insurance companies ratings available on many sites online.

ICICI Lombard – Icici Lombard General Insurance

Insure your home and its contents against natural calamities like fire, earthquake, flood, gas cylinder explosion, fire due to electric short circuit as well as man-made disaster like burglary.

Website: www.icicilombard.com

National Insurance Company Ltd.

National Insurance Company Limited was incorporated in 1906 with its Registered office in Kolkata. Consequent to passing of the General Insurance Business Nationalisation Act in 1972, 21 Foreign and 11 Indian Companies were amalgamated with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India. After the notification of the General Insurance Business (Nationalisation) Amendment Act, on 7th August 2002, National has become a Government of India undertaking.

Website: www.nationalinsuranceindia.com

Oriental Insurance Co. Ltd.

The Oriental Insurance Company Ltd was incorporated at Bombay on 12th September 1947. The Company was a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business. The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973 ( till the General Insurance Business was nationalized in the country). In 2003 all shares of our company held by the General Insurance Corporation of India has been transferred to Central Government.

Website: www.orientalinsurance.nic.in

Flooring in India – Marble flooring, Laminate flooring, Hardwood flooring

Flooring goes a long way in giving a neat look to your sweet home. Besides majestic POP and decorative items, the home should have a great flooring too. The shimmering floors add spice to the decor of the house. The decor of your home finds a new expression with the choice of appropriate flooring materials blending well with its interior architecture. Hence, always use the right kind of flooring to give your home an enhanced look.

Types of Flooring in India

It is basically your home architect who choose the type of materials to be used as flooring in living rooms, bed rooms, kitchens or bathrooms during the period of construction. After the construction is over, you may take the advice of interior decorators to select appropriate floor coverings, such as carpets, rugs or mattresses etc. in sync with the décor of your home.

There are many types of flooring and each one is marked with some distinguishing features. The most common types of flooring in India include

•Marble flooring

•Tile flooring

•Concrete flooring

•Laminate flooring

•Vinyl flooring

•Ceramic flooring

•Hardwood flooring

•Bamboo flooring

Flooring for Kitchens and Bathrooms

Of all these types of flooring, the most popular in India are Tile flooring and Marble flooring. For bathrooms and kitchens, tile flooring seems to be the most suitable whilst it may also be used for other portions of your house. Ceramic tiles are the most preferred flooring materials for bathroom walls and floors.

Flooring for Bedrooms and Living Rooms

Marble flooring, on the other hand, gives your home a chic look and can be used for living rooms, bedrooms and foyers. Other types of flooring are also getting popularized in the country. Proper flooring gives a neat and finished look and makes it easy for you to clean and maintain your house. The architectural design of your home must contain detailed floor plans so that installation of flooring should be done along with the construction process. The color and design of tiles should match the color of walls and ceilings. In fact, the perfect symmetry in the design, style and color of walls, floors and ceilings is extremely important to enhance the décor of your home.

It is normally the building material suppliers in India who supply flooring materials. You can also contact flooring companies to get information about their latest products and also to buy. The companies listed below are some of the topmost companies providing all types of flooring tiles at an affordable rate.

Home Loans Solutions

Homes Loans are a good option to buy residential homes of your choice against the backdrop of escalating prices of prime properties especially in bigger cities. The rate of real estate property has started to soar in smaller cities also and many home seekers are finding it increasingly difficult to buy flats, houses, plots, lands or apartments. For a family of limited income, home loans are the only option left for owning a dream home.

Purchasing the home of your dreams is not an easy task. Especially when you plan to buy a home on loan. Home loan means that you buy a house on installments. In simpler terms, when you want to own a home but can not afford to pay the amount in lump sum, you can pay it in monthly installments with an interest rate. Indeed, the system of providing Home Loan was started on a very small scale by money- lenders and then it spread on a larger scale.

Home Loan Process

The process of taking a home loan has been simplified. Easy home loans at a low interest rate is no more a difficult task. There are numerous nationalized as well as private banks that offer Home Loans in a hassle free manner. There are various factors that you need to take in account. For instance which are the top finance companies offering cheap home loans or loan at a low interest rate? Once this has been decided you need to be careful of the various attractions offered by some finance companies as it may lead you to trouble in future.

Some of the leading finance companies providing housing loans are: HDFC Bank, IDBI Bank, ICICI Bank, State Bank of India, Punjab National Bank, Bank of Baroda, Central Bank of India etc. These finance companies offer Home Loans to individuals to purchase (fresh / resale) or construct houses. Loans are also provided for home improvement or repair, extension of house etc.

Real Estate Agents and the Internet

Real Estate Agents and the Internet – How to Buy and Sell Real Estate Today

Ten years ago, a search for real estate would have started in the office of a local real estate agent or by just driving around town. At the agent’s office, you would spend an afternoon flipping through pages of active property listings from the local Multiple Listing Service (MLS). After choosing properties of interest, you would spend many weeks touring each property until you found the right one. Finding market data to enable you to assess the asking price would take more time and a lot more driving, and you still might not be able to find all of the information you needed to get really comfortable with a fair market value.

Today, most property searches start on the Internet. A quick keyword search on Google by location will likely get you thousands of results. If you spot a property of interest on a real estate web site, you can typically view photos online and maybe even take a virtual tour. You can then check other Web sites, such as the local county assessor, to get an idea of the property’s value, see what the current owner paid for the property, check the real estate taxes, get census data, school information, and even check out what shops are within walking distance-all without leaving your house!

While the resources on the Internet are convenient and helpful, using them properly can be a challenge because of the volume of information and the difficulty in verifying its accuracy. At the time of writing, a search of “Denver real estate” returned 2,670,000 Web sites. Even a neighborhood specific search for real estate can easily return thousands of Web sites. With so many resources online how does an investor effectively use them without getting bogged down or winding up with incomplete or bad information? Believe it or not, understanding how the business of real estate works offline makes it easier to understand online real estate information and strategies.

The Business of Real Estate

Real estate is typically bought and sold either through a licensed real estate agent or directly by the owner. The vast majority is bought and sold through real estate brokers. (We use “agent” and “broker” to refer to the same professional.) This is due to their real estate knowledge and experience and, at least historically, their exclusive access to a database of active properties for sale. Access to this database of property listings provided the most efficient way to search for properties.

The MLS (and CIE)

The database of residential, land, and smaller income producing properties (including some commercial properties) is commonly referred to as a multiple listing service (MLS). In most cases, only properties listed by member real estate agents can be added to an MLS. The primary purpose of an MLS is to enable the member real estate agents to make offers of compensation to other member agents if they find a buyer for a property.

This purposes did not include enabling the direct publishing of the MLS information to the public; times change. Today, most MLS information is directly accessible to the public over the Internet in many different forms.

Commercial property listings are also displayed online but aggregated commercial property information is more elusive. Larger MLSs often operate a commercial information exchange (CIE). A CIE is similar to an MLS but the agents adding the listings to the database are not required to offer any specific type of compensation to the other members. Compensation is negotiated outside the CIE.

In most cases, for-sale-by-owner properties cannot be directly added to an MLS and CIE, which are typically maintained by REALTOR associations. The lack of a managed centralized database can make these properties more difficult to locate. Traditionally, these properties are found by driving around or looking for ads in the local newspaper’s real estate listings. A more efficient way to locate for-sale-by-owner properties is to search for a for-sale-by-owner Web site in the geographic area.

What is a REALTOR? Sometimes the terms real estate agent and REALTOR are used interchangeably; however, they are not the same. A REALTOR is a licensed real estate agent who is also a member of the NATIONAL ASSOCIATION OF REALTORS. REALTORS are required to comply with a strict code of ethics and conduct.

MLS and CIE property listing information was historically only available in hard copy, and as we mentioned, only directly available to real estate agents members of an MLS or CIE. About ten years ago, this valuable property information started to trickle out to the Internet. This trickle is now a flood!

One reason is that most of the 1 million or so REALTORS have Web sites, and most of those Web sites have varying amounts of the local MLS or CIE property information displayed on them. Another reason is that there are many non-real estate agent Web sites that also offer real estate information, including, for-sale-by-owner sites, foreclosure sites, regional and international listing sites, County assessor sites, and valuation and market information sites. The flood of real estate information to the Internet definitely makes the information more accessible but also more confusing and subject to misunderstanding and misuse.

Real Estate Agents

Despite the flood of real estate information on the Internet, most properties are still sold directly through real estate agents listing properties in the local MLS or CIE. However, those property listings do not stay local anymore. By its nature, the Internet is a global marketplace and local MLS and CIE listings are normally disseminated for display on many different Web sites. For example, many go to the NATIONAL ASSOCIATION OF REALTORS Web site, http://www.realtor.com, and to the local real estate agent’s Web site. In addition, the listing may be displayed on the Web site of a local newspaper. In essence, the Internet is just another form of marketing offered by today’s real estate agent, but it has a much broader reach than the old print advertising.

In addition to Internet marketing, listing agents may also help the seller establish a price, hold open houses, keep the seller informed of interested buyers and offers, negotiate the contract and help with closing. When an agent provides all of these services it is referred to as being a full service listing arrangement. While full service listing arrangements are the most common type of listing arrangement, they are not the only option anymore.

Changes in the technology behind the real estate business have caused many agents to change the way they do business. In large part, this is due to the instant access most consumers now have to property listings and other real estate information. In addition, the Internet and other technologies have automated much of the marketing and initial searching process for real estate. For example, consumers can view properties online and make inquires via email. Brokers can use automated programs to send listings to consumers that match their property criteria. So, some agents now limit the services they offer and change their fees accordingly. An agent may offer to advertise the property in the MLS but only provide limited additional services. In the future, some real estate agents may offer services in more of an ala carte fashion.

Because of the volume of real estate information on the Internet, when people hire a real estate agent today they should look at the particular services offered by the agent and the depth of their experience and knowledge in the relevant property sector. It is no longer just about access to property listing information. Buyers and sellers historically found agents by referrals from friends and family. The Internet now provides ways to directly find qualified agents or to research the biography of an agent referred to you offline. One such site, AgentWorld.com, is quickly becoming the LinkedIn or Facebook for real estate agents. On this site an agent can personalize their profile, start a blog, post photos and videos and even create a link to their web site for free. Once unique content is added to their profile page the search engines notice!

Some have argued that the Internet makes REALTORS and the MLS less relevant. We believe this will be false in the long run. It may change the role of the agent but will make knowledgeable, qualified, and professional REALTORS more relevant than ever. In fact, the number of real estate agents has risen significantly in recent years. No wonder, the Internet has made local real estate a global business. Besides, Internet or not, the simple fact remains that the purchase of real property is the largest single purchase most people make in their life (or, for many investors, the largest multiple purchases over a lifetime) and they want expert help. As for the MLS, it remains the most reliable source of real estate listing and sold information available and continues to enable efficient marketing of properties. So, what is the function of all the online real estate information?

Online real estate information is a great research tool for buyers and sellers and a marketing tool for sellers. When used properly, buyers can save time by quickly researching properties and, ultimately, make better investment decisions. Sellers can efficiently research the market and make informed decisions about hiring an agent and marketing their properties online. The next step is to know where to look online for some of the best resources.
Internet Strategies

In the sections that follow, we provide strategies and tips on how to use the Internet to locate properties for sale and research information relevant to your decision to purchase the property. There are many real estate Web sites from which to choose and although we do not mean to endorse any particular Web site, we have found the ones listed here to be good resources in most cases or to be so popular that they need mention. One way to test a Web site’s accuracy is to search for information about a property you already own.

Finding Real Estate for Sale

Despite the widely available access to real estate listings, many believe that MLS databases continue to offer the most complete and accurate source of real estate information. Most MLSs now distribute content to other Web sites (primarily operated by real estate agents). An excellent starting point for MLS originated content is the national NAR Web site, realtor.com, which is also the most popular web site for searching real estate listings. Virtually all local and regional MLSs have an agreement with realtor.com to display much of their active listing inventory.

Some local and regional MLS systems also have a publicly accessible Web site. However, to get complete information you will most likely still need to find a qualified local REALTOR. Many local real estate agents will also provide their customers (via email) new listings that are input into the MLS that match their predefined criteria. This can be very helpful to a busy buyer.

There are also many Web sites that display both real estate agent listed and for-sale-by-owner properties. Some of the more popular Web sites include zillow.com and trulia.com. These sites offer other services too. For example, zillow.com is best known for its instantaneous property valuation function and trulia.com for providing historical information. Another source of properties for sale is the state, regional, and local Web sites associated with brokerage companies; for example, remax.com or prudential.com. Search engines like yahoo.com and classified advertising sites like craigslist.com also have a large number of active real estate listings.

One key difference between these sites is how much information you can access anonymously. For example, at trulia.com you can shop anonymously up to a point but then you will need to click through to the agent’s Web site for more information. Many new real estate search engines allow you to sift through listings without having to fill out a form. The best strategy is to browse a few of the sites listed above to find geographic areas or price ranges that are interesting. Once you get serious about a property, then that is the time to find a qualified REALTOR of your choice to conduct a complete search in the local MLS.

It also never hurts to search the old-fashioned way by driving through the neighborhoods that interest you. There is no substitute for physically, not virtually, walking the block when you are making a serious investment decision. In this sense, real estate is still a very local business and standing in front of the property can lead to a much different decision than viewing a Web page printout.

Valuing Real Estate

As we mentioned, one of the most popular real estate tools is zillow.com’s instant property valuation. Just type in an address and in and you get a property value. It even charts the price ups and downs, and shows the last date sold (including price) and the property taxes. There are other sites that provide similar tools such as housevalues.com and homegain.com. Unfortunately, many people use these estimated values alone to justify sales prices, offers and counteroffers. However, these are only rough estimates based on a formula that incorporates the local county sales information. These estimates can swing wildly over a short period of time and do not appear to always track actual market changes, which are normally more gradual. In addition, these estimates do not automatically take into account property remodels or renovations or other property specific or local changes. This is not to say these sites are not useful. In fact, they are great starting points and can provide a good ball-park value in many cases.

When it comes to getting a more accurate value for a particular property, there are other strategies that are more trustworthy. One is to go directly to your county’s Web site. More often than not the county assessor’s area of the Web site provides sales and tax information for all properties in the county. If you want to research a particular property or compare sales prices of comparable properties, the local assessor’s sites are really helpful. When you visit a county’s Web site you are getting information straight from the source. Most counties today publish property information on their Web sites. Many times you cannot only see the price a previous owner paid, but the assessed value, property taxes, and maps. Some county assessors are now adding a market and property valuation tools too.

Given the importance of valuation to investing, we are also going to remind you of the two most important (non-Internet) valuation methods: real estate agents and appraisers. Working with a local REALTOR is an accurate and efficient way to get value information for a property. While one of the primary purposes of the MLS is to market the active property listings of its members, the system also collects sales information for those listings. REALTOR members can pull this sales information and produce comparable market analyses (sometimes called CMAs) that provide an excellent snapshot of a particular property’s value for the market in a particular area.

Finally, the most accurate way to value a property is by having a certified appraiser produce an appraisal. An appraiser will typically review both the sold information in the MLS system as well as county information and then analyze the information to produce a valuation for the property based on one or more approved methods of valuation. These methods of valuation can include a comparison of similar properties adjusted for differences between the properties, determine the cost to replace the property, or, with an income producing property, determine a value based on the income generated from the property.

The Neighborhood

There are many ways the Internet can help you get the scoop on a particular neighborhood. For example, census data can be found at census.gov. You can also check out the neighborhood scoop at sites like outside.in or review local blogs. A blog is a Web site where people discuss topics by posting and responding to messages. Start by looking at placeblogger.com and kcnn.org/citymediasites.com for a directory of blogs. Trulia.com has a “Heat Map” that shows how hot or cold each neighborhood is based on prices, sales, or popularity among the sites users.

Schools

When it comes to selling residential property or rental properties that cater to families, the quality of the area school district makes a huge difference. There are many Web sites devoted to school information. Check out greatschools.net or schoolmatters.com. Most local school districts also have their own Web site. These sites contain a variety of information about the public schools and the school district, including its district demographics, test scores, and parent reviews.

Finding the Right Real Estate Agent

A recent addition to the Internet boom in real estate information is Web sites that let real estate agents market their expertise and local knowledge by displaying their professional profiles and socially networking with blogs. You can search to find an agent with a particular expertise, geographic area of specialization, or an agent offering specific services. The web site AgentWorld.com lets users quickly and easily find an agent with the right expertise using keyword searches and clean and simple agent profiles. AgentWorld.com also enables agents to post personalized blogs, photos and videos to help consumers find the best agent for their needs. Plus, many agent profiles include a direct link to the agent’s web site where you will likely find the local MLS listings.

Maps and Other Tools

The Internet has made mapping and locating properties much easier. To get an aerial view or satellite image of a property or neighborhood, go to maps.live.com or maps.google.com or visit walkscore.com to see how walk-able a particular property is. These sites can give you an idea of the neighborhood characteristics and the types of entertainment, restaurants, and other facilities that are within walking distance of the property. Maps.Live.com provides a view at an angle so you can see the sides of houses and Maps.Google even gives you a 360 degree street-level view for certain neighborhoods. If you have not tried one of these satellite map Web sites, you really should if only for amusement.

Final Thoughts on Internet Strategies

The Internet is a very effective research and marketing tool for real estate investors but is not a replacement for a knowledgeable experienced real estate professional. The Internet can save you time and money by enabling quick and easy property research and marketing options. Sites like AgentWorld.com also help you efficiently find a REALTOR who fits your buying or selling needs.

Always remember, when it comes to Internet strategies for real estate: More knowledge is better. You need to use the Internet to build your knowledge base on a target property or to find a real estate agent with expertise you need. However, the big caution here is that the Internet should not replace human judgment and perspective, expert advice or physical due diligence-keys to successful investing.

Make Money in Real Estate

Make Money in Real Estate – Unlock the Secret

Maybe you’ve heard someone say you can make money in real estate with no money and no credit, maybe you haven’t. (Maybe you’re not up late at night watching TV infomercials.) But the truth is you can… if you know how. While it is possible to do deals with no credit and no money, it can be tough when you’re first starting out. Usually you’ll still need SOMEONE’S credit or money… but it doesn’t have to be yours.

Here’s how it works:

One of the oldest and simplest ways to make money in real estate with no money and no credit is to partner with someone who DOES have these things but doesn’t have the time or the skill to go out into the market and wrangle up good deals. You see, in real estate as with most things, a good education goes a long way. Maybe your education came from an online course, or the school of hard knocks, but either way, if you can go out there and find a DEAL, finding someone to help you fund it will be a cinch.

The first question everyone always asks is, “So how do I know a Good Deal when I see one?” Well that’s simple. When you’re first starting out you want to be looking for properties that have a 30% profit potential or greater. What that means is, you want to be able to buy the property, fix or clean it up for resale, and then put it on the market for 30% above the total of what you have invested in it (purchase price + fix up).

In order to do this properly you’ll need to work backwards. (Don’t worry; in this case working backwards is easier than walking backwards and chewing gum.) You’ll need to determine what the fair market value of the house you’re looking to purchasing is, so that you know what you can sell it for. You do this by checking what other similar homes have sold for in the immediate area. You can ask your Realtor for this information or there are several websites today that can give you sales data.

Then, you want to chop 30% off this number right from the start. That will tell you how much you can spend on the whole deal and still make money. Next you need to determine what repairs the home needs if any. Chances are it could use something, even if it’s minor, like paint and carpet in order to help it look nice and sell faster. Subtract the total amount for estimated repairs from your running total and the remainder is what you can afford to purchase the property for (including all closing costs).

Now that you know what a good deal looks like and how to spot one, the next thing you need to do is figure out how to acquire it without spending any of your own money. This is where a partner comes in. So far you’ve done all the legwork. Now it’s time for your partner to do their part. You can meet several people who would be happy to partner with you on a good deal at your local real estate club. You can spot them pretty easy; sometimes they’ll even be wearing shirts or buttons that say “We buy houses”.

Introduce yourself and explain your deal to them, show them you’re numbers, and spell out exactly what you intend to do with the property and how you intend to sell it. These guys are pros at spotting a good deal and knowing just how to make money on it. If you’ve got a hot deal, they’ll be glad to get involved.

How much you make on the deal will be determined by how involved you are in it. If you’ve located a good potential property and are basically just bringing it to an investors attention you’ll probably get a finders fee of a few hundred dollars when the deal goes through. If on the other hand you’ve already negotiated with the seller and have the property under contract then you stand to split the deal 50/50 with your investing partner. As with most money making endeavors; the key is education. The more knowledgeable you are, the more prepared you’ll be, and the higher your earning potential will become.

Real Estate Definitions, Discussion

Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations

Delaware, and the rest of the original British Colonies, has some land that is leased rather than owned by the residents of that land. Much of it is not evident to the casual observer.

The land on Lewes Beach is leased, not owned by the home owners. The land of Lewes Beach is owned by the Town of Lewes. The lands of Rehoboth by the Sea and Dewey Beach include leased land too. Most of the leases on that land will NOT be renewed but will return to the owners and the homes on top of that land will be removed by the home owners at their expense. Much of the land in Riverdale, on Indian River Bay, adjacent to Oak Orchard is leased as well. In Riverdale the leased land is owned by Chief Clark of the Nanticoke Indians.

We have about half the inhabitants of Sussex County living on leased land; most of that leased land is found in what people call mobile home parks or communities. However, in those communities there are seldom any homes that are truly mobile and there are even two story stick built homes on some of the leased lands in those communities. Condominiums and town houses are sometimes found on leased land as well. Some folks find all this rather difficult to understand.

We Realtors and Attorneys use the term fee simple to describe land that is being sold as real property; that is real estate. We used the term leased land or leasehold interest to describe land that is not transferring as real estate.

This rather lengthy text is regarding Leased Land, Real Estate, Private Property, Chattels, Mobile Homes, Homes on Leased Land and a legal dissertation to define, describe and determine the differences.

Terminology is important when discussing Real Estate, i.e. real property.

Black’s Law Dictionary is the recognized, definitive source for legal definitions under our American Law; which is derived from English Law

PROPERTY: In the strict legal sense, an aggregate of rights which are guaranteed and protected by government. BL6, p. 1216.

PERSONALTY: Personal property; movable property; chattels; property that is not attached to real estate. BL6, p. 1144

PROPERTY: (personal property) – In broad and general sense, everything that is the subject of ownership, not coming under the denomination of real estate. A right or interest less than a freehold in realty, or any right or interest which one has in things movable. BL6, p. 1217

Therefore personal property, is that which can be easily removed from the real estate, and is not real estate. Personal property includes crops, trees, shrubs, trailers, sheds, cars, mobile homes, manufactured homes that have a Department of Motor Vehicle title instead of a deed, and the contents of a home or building. In a home or business the personal property includes drapes, lighting fixtures, rugs (not installed carpeting) free-standing cabinets and cupboards, furniture, and all the contents of closets, drawers and buildings. Buildings without a foundation, that is sheds that are just supported by blocks are chattel property, that is personal property, and not part of the real estate. Such chattel includes dog houses and particularly the little storage buildings that are so common outside of homes today.

LANDS: In the most general sense, comprehends any ground, soil or earth whatsoever… Black’s Law dictionary 6th Ed. (BL6), p.877

PRIVATE PROPERTY: As protected from being taken for public uses, is such property as belongs absolutely to an individual, and of which he has the exclusive right of disposition. Property of a specific, fixed and tangible nature, capable of being in possession and transmitted to another, such as houses, lands, and chattels. BL6, p. 1217. Private property is land, houses, and chattels. Private property is protected from being taken for public uses. Private property is owned absolutely.

REAL ESTATE synonymous with real property” and p.1218 REAL PROPERTY … A general term for lands, tenements, hereditaments (those things which are hereditary); which on the death of the owner intestate, passes to his heir.” BL6, p1263

ESTATE: The degree, quantity, nature and extent of interest which a person has in REAL and PERSONAL property. An ESTATE in lands, tenements, and hereditaments signifies such interest as the tenant has therein. BL6, p.547 The definitions here all refer to: real estate = real property = estate = lands, tenements, and hereditaments. At first, one might think that ‘real property’ is the proper term for ‘all lands’. But it doesn’t state the manner of ownership as clearly as the definition of estate. We just had a huge instance of this when the thousands of leased land lots under the homes of several thousand people, in Angola, Pots Nets, and Long Neck areas owned by the Robert Tunnel family was inherited by the children.

IN OUR AREA THERE ARE NUMEROUS LEASED LAND PROPERTIES AND THOSE PROPERTIES ARE THE REAL ESTATE OF THE OWNER OF THE LAND – NOT THE OWNER OF THE HOME WHICH IS UPON THAT LAND. If you examine the definition for ESTATE it refers to an interest in the same articles defined in real property and real estate.

What is this LAND and WHO owns it and HOW is it owned? Land can be private property OR estate, i.e. real estate. Estate is an interest in “real property” by a person or a tenant. Private property is owned absolutely by an individual.

INTEREST: More particularly it means a right to have the advantage of accruing from anything; any right in the nature of property, but less than title. – BL6, p.812. By this definition it’s clear that INTEREST cannot be TITLE, since it is less than title. Interest may be a property right to land, but it’s not a right to absolute ownership of land. Those who live on leased land, thus, have only an interest in the land; and that interest is a lease-hold interest. Is there a definition of property that says it’s land held in absolute ownership, as does private property’s definition? We can delve into this more.

ABSOLUTE TITLE – As applied to title to land, an exclusive title, or at least a title which excludes all others not compatible with it. An absolute title to land cannot exist at the same time in different persons or in different governments. BL6, p.1485

PRIVATE PROPERTY – … is such property as belongs absolutely to an individual, and of which he has the exclusive right of disposition. BL6, p.1217

OWN – To have a good legal title; to hold as property; to have a legal or rightful title to; to have; to possess. BL6, p. 1105. To “own” is to have title. An interest is LESS THAN TITLE.

ESTATE: The degree, quantity, nature and extent of interest which a person has in real and personal property. An estate in lands, tenements, and hereditaments signifies such interest as the tenant has therein. – - BL6, p.547 From these definitions, it’s plain that we can’t absolutely “own” real estate. We can only have a qualified ownership of qualified and described ownership of Real Estate. Thus, we need that Deed Description to describe it and qualify it. That ownership is also qualified by various government rights, decrees and laws, from antiquity, such as rights against trespass. That ownership is qualified by taxation, zoning, rights of way, and a myriad of other entailments. We need, therefore, a title search to determine those entailments, some of which are invisible.

Therefore there is NOT as much difference in the rights and privileges of ownership and interest as one is led to believe. I have no problem with those who live on leased land instead of owning the land. Usually they are paying far less than it would cost them to own the same property. However, they don’t often get any appreciation of the land; the landlord gets the appreciation in real value, while the resident can appreciate the lifestyle for less cost per month or year.

However, since an interest in leased land is not automatically transferable and is NOT Real Estate and since the chattel property upon it, the mobile home is personal property, without a deed but instead has a title – Realtors are not by law supposed to be involved in the sale of such – but we are. We are supposed to only be selling real property. It gets all cloudy and foggy doesn’t it. That is why there are people and companies who sell mobile homes on leased land who are not realtors and don’t need to be. In fact, although no one will discuss it, Realtors are not supposed to sell mobile homes on leased land. We don’t need to engage in that battle any more than I just did by describing it.

OWNERSHIP:/ The complete dominion, title, or proprietary, including right in a thing or claim… Ownership of property is either absolute or qualified. The ownership of property is absolute when a single person has dominion over it, and may use it or dispose of it according to his pleasure, subject only to general laws. The ownership is qualified when it is shared with one or more persons, when the time of enjoyment is deferred or limited, or when the use is restricted. – BL6, p. 1106 Such sharing is common with husband and wife, partners, families and corporations, etc.

DOMINION - Generally accepted definition of “dominion” is perfect control in right of ownership. The word implies both title and possession and appears to require a complete retention of control over disposition. – - -BL6, p. 486 I think you’d agree that zoning, building codes, home owners association covenants, condominium documents of use and business licensing is a restriction on the use of land (if it’s Real Estate). And there is obviously the fact that failure to pay property taxes on real estate will result in loss of said property. That’s definitely not absolute ownership. But private property is defined as ABSOLUTE OWNERSHIP, not qualified (interest).

PROPERTY (tangible) – All property that is touchable and has real existence (physical) whether it is real or personal. – - BL6, p. 1218 In summation, it takes a good attorney, and one well versed and experienced in real estate to understand the complex definitions, rights, liabilities, and privileges of real estate ownership. I have been buying and selling real estate for myself and assisting others in the buying and selling of real estate for thirty years. I have taught courses on real estate and real estate law. And, I would NOT consider purchasing a property, or purchasing property on leased land without the professional and paid assistance of an attorney who is a real estate specialist in the exact county in which the property is located. Other attorneys from other areas are not valid choices at all.

Mortgage Qualification Factors

If you plan to purchase a home, then you must know that you need to qualify for a mortgage. Although there are those, who buy houses in cash, this seldom happens. The question is how will you qualify for a mortgage? What are the factors affecting it?

As mentioned earlier, the lender will consider several factors before he approves or disapproves your application. He will also decide what term to offer you. The factors identified below are few of the basic factors that will influence your qualification.

1. The most important factor when qualifying for a loan is your credit score. You will need to authorize the lender to get the information they can use to evaluate your score. In order to qualify, it is essential that you check your credit reports regularly as well. There are several instances of erroneous records. You can request for a copy of your credit reports from the different credit bureaus to check this. If there are errors on the record, file a dispute right away to correct the report.

2. Your existing debt is also a factor. If you have multiple current loans, pay up some of them first. If you are unable to do this, see to it that the outstanding credits have minimal balances. If you have a lot of outstanding credits, the lender will not have the confidence to offer you a mortgage.

3. Your current employment status will also be a factor. Bear in mind that the lender will conduct a background check of your employment background. Your position and length of service are important information. In addition to that, your lender will also ask for your monthly income. They want to check if you will be able to afford the monthly mortgage in the future.

4. The down payment you can make is another aspect. You will most likely be approved if you made a generous payment. This is where your savings will come into play. You will also need your savings to the closing costs you will incur.

5. The lender is also a vital factor for you to qualify. Lenders are very different. Some may not find your credit score acceptable but others will accept your application as long as you make higher down payments. The interest rate of the term should be higher than the usual. Find a good lender. You can use the information online. Your friends and family might also make a good recommendation.

Remember, qualifying for a mortgage is easy as long as you know the factors affecting it beforehand. Among the most important factors is your credit score so make sure that you take care of it. Monitor its details by asking for a credit report from the different credit bureaus. If there are errors, file for disputes right away. Other factors can also influence your qualification for mortgage. Among them are your existing debts, your monthly income and your employments status. The down payment you are going to make as well as the type of lender you have also affects your mortgage application.

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