Phuket is in Thailand. There are various types of land with different kind of titles. However you should really know what they are really about. I must tell you that there are many kind of lands with different titles. However you must know that they have some specific meaning. I will list them one by one:
1.Sor kor 1:
A Sor kor 1 was a term used long time ago. It means that the land is for agriculture and cultivation. You cannot do any other thing on it. You don't have right to sell the land. I have heard that this is also called right to use the land. You should be careful to buy a land near this kind of land as it delays the chanote making process. Also you will have to take the permission of the local government.
2.Por bor tor 5:
This is the land for agriculture and cultivation. There is no owner of this land. The chief of the village has the rights to administer and manage this land.
3.Por bor tor 6:
This just tells you that this land is taxable. This however only shows that this has just to deal with tax and has nothing to do with ownership.
4.Sor bor kor 4-01:
This land was provided by land department reform committee. The general feeling was that all the poor people should have land.
Now I have told you about all these titles. I must say that the rules and regulations in Thailand are very strict and you will have to follow it properly. If you are found violating any of the rules then it's only you who will suffer. These are some kind of land. However you will also find many properties which are well suited for residence. I find no reason why you can't go for buying them. Thailand is not a bad place to live in. yes phuket is an agricultural area. However you will also find others as well. It's not so that any other type of business is absent in phuket. Agriculture is the main occupation, but phuket is also famous for electronic appliances as is Thailand. If you are an electronic engineer then there is lot of scope for you as well.
You can always buy a land and make a house of your choice over it. However you will have to take the permission from the local government sometimes. I must tell you that the rules and regulations of the local government are easy to understand and you will easily be able to satisfy them. However I must tell you that don't try to be over smart otherwise you might fall is someone's trap.
Saturday, November 8, 2008
Thursday, November 6, 2008
Building More Profits through Real Estate Accounting
Accounting is the important part of any business. Professional chartered accountants are available as far as accounting is concerned. However it's always nice to know about accounting. I would really like to tell some details about real estate accounting.
Here are the few characteristics related to real estate accounting.
1.Income and expenses.
2.Deposits slips.
3.Suppliers account
4.Tax filing
I would now talk about each of the above in detail:
1.Income and expenses:
If you are in some kind of job then you must be earning some fixed amount per year. However if you are in some kind of business then you will really have floating salary. Your salary will not be fixed. You can earn sometimes in billion or sometime be in loss. Your real estate which you would have bought must have cost you. You should really take this cost into your account. Now the real estate will also charge you sometime or the other. You might loose some money in repairing of the real estate. You should take into account each and every expense you have to do on real estate. You will find within a month that you will have account related to income and expenses. Now you look at the account and tell whether you are in profit or in loss. If the real estate is costing you then it would really be better to sell it. But how will you find that you should sell the real estate or not. Yes, it is through the account which you maintain. If you try to get this job done by an accountant then also the accountant will have to similar process.
2.Deposit slips:
You should take into account all the deposits slip which you have come across related to the real estate. Deposit slip should contain all the expenses which you have done for example, water tax, electrify bills and others. These are mandatory to preserve. The real should now be yours and a moment later it can be mine. However we both will require the tax details related to the real estate.
3.Suppliers account:
Without any additional slip you can access the basic suppliers account. You can generate the entire invoice and preserve them.
4.Tax filing:
It's either you or me whoever owns the real estate will really require the tax details. Without the old tax details, you or me will not be able to pay back the taxes.
I must tell you that if you keep a proper account of all these expenses then you will realize that what amount you are required to pay. Whenever, you will like to sell your real estate. You will have all the documents ready and hence you can charge the exact amount. The profit is really guarantied.
Here are the few characteristics related to real estate accounting.
1.Income and expenses.
2.Deposits slips.
3.Suppliers account
4.Tax filing
I would now talk about each of the above in detail:
1.Income and expenses:
If you are in some kind of job then you must be earning some fixed amount per year. However if you are in some kind of business then you will really have floating salary. Your salary will not be fixed. You can earn sometimes in billion or sometime be in loss. Your real estate which you would have bought must have cost you. You should really take this cost into your account. Now the real estate will also charge you sometime or the other. You might loose some money in repairing of the real estate. You should take into account each and every expense you have to do on real estate. You will find within a month that you will have account related to income and expenses. Now you look at the account and tell whether you are in profit or in loss. If the real estate is costing you then it would really be better to sell it. But how will you find that you should sell the real estate or not. Yes, it is through the account which you maintain. If you try to get this job done by an accountant then also the accountant will have to similar process.
2.Deposit slips:
You should take into account all the deposits slip which you have come across related to the real estate. Deposit slip should contain all the expenses which you have done for example, water tax, electrify bills and others. These are mandatory to preserve. The real should now be yours and a moment later it can be mine. However we both will require the tax details related to the real estate.
3.Suppliers account:
Without any additional slip you can access the basic suppliers account. You can generate the entire invoice and preserve them.
4.Tax filing:
It's either you or me whoever owns the real estate will really require the tax details. Without the old tax details, you or me will not be able to pay back the taxes.
I must tell you that if you keep a proper account of all these expenses then you will realize that what amount you are required to pay. Whenever, you will like to sell your real estate. You will have all the documents ready and hence you can charge the exact amount. The profit is really guarantied.
Tuesday, November 4, 2008
How to Get a Refinance Home Loan
Home loans are very easy to get. However you must not be surprised that even refinance home loans are also not so tough to achieve. If you can give a genuine reason for refinance home loans then you can surely get the refinancing easily done. I must tell you the reasons why refinancing is done. I will list some reasons for you. They are as follows:
1.Maintaining a house is not al easy task. You will have to really check whether the sever lines are proper or not. You will have to check for the water supply. You must make sure that all the bills are paid back at right time. Since you have lots of expenses you will some time feel the heat and may suffer from loss of money. I must tell you that you will really in this case think of refinancing your home loan.
2.You might have bought the house for a period of two to three years. However at the end of three years you might feel that you should in the same house for ever. You must have taken some loan to buy the property. However since you have bought the house only for three years you must have gone for adjustable rate mortgage since it would have more economical. However, now since you have decided to live for ever, you will find fixed interest rate loans more economical. What will you do now? You will surely want look for some solutions and you will find that refinance is the best possible alternative.
How to get it?
I must tell you that refinancing is a straight forward process. However you will have to pay a fee for that. I will list the details of the fee:
1.Application fees:
The charge which the lender imposes on you contains cost for processing your loan request and checking your credit report.
2.Title search and title insurance:
This comprises of the cost for examining the ownership of the real estate. You will have to pay for a policy which is issued by a title insurance company. You can save up to 70% of this fee if you ask the company to issue the policy at the re-issue date.
3.Lenders attorney review fees:
Lender first asks his lawyer whether all the papers are correct. For this he has to pay an amount to the lawyer. You will have to pay this fee as well.
Some of the other fees are loan origination fees, appraisal fees and so on. You will surely have to pay all these fees. You will really then look forward to get the loan once you have paid the entire fee.
1.Maintaining a house is not al easy task. You will have to really check whether the sever lines are proper or not. You will have to check for the water supply. You must make sure that all the bills are paid back at right time. Since you have lots of expenses you will some time feel the heat and may suffer from loss of money. I must tell you that you will really in this case think of refinancing your home loan.
2.You might have bought the house for a period of two to three years. However at the end of three years you might feel that you should in the same house for ever. You must have taken some loan to buy the property. However since you have bought the house only for three years you must have gone for adjustable rate mortgage since it would have more economical. However, now since you have decided to live for ever, you will find fixed interest rate loans more economical. What will you do now? You will surely want look for some solutions and you will find that refinance is the best possible alternative.
How to get it?
I must tell you that refinancing is a straight forward process. However you will have to pay a fee for that. I will list the details of the fee:
1.Application fees:
The charge which the lender imposes on you contains cost for processing your loan request and checking your credit report.
2.Title search and title insurance:
This comprises of the cost for examining the ownership of the real estate. You will have to pay for a policy which is issued by a title insurance company. You can save up to 70% of this fee if you ask the company to issue the policy at the re-issue date.
3.Lenders attorney review fees:
Lender first asks his lawyer whether all the papers are correct. For this he has to pay an amount to the lawyer. You will have to pay this fee as well.
Some of the other fees are loan origination fees, appraisal fees and so on. You will surely have to pay all these fees. You will really then look forward to get the loan once you have paid the entire fee.
Monday, November 3, 2008
Residential Bridging Loans
Bridging loans are very common. They are the short term loans where you have to return the loan as soon as possible. The interest rate is also very high and this type of loan is only taken when there is an emergency. You can really point out advantages as well as disadvantages. However if you want it for shorter period of time then there is no harm in taking it.
I have seen many real estate investors who go for bridge loans when they are wiling to flipping some house. However common man also goes for bridge loans. There might be the case that your house might not be in good condition and you might be in double mind. Suppose you want to sell your house. Since the condition of your house is not good you might not be able to sell it for more. However you can always repair your house and then sell it for higher rate. However you might not have the money too. What can you do now? The answer and in fact the solution is bridge loans. These are short term loans as I have stated earlier. You must however be confused that why it is called short term course? I will answer this question.
The interest rate of bridge loan is so high that only a fool will take it for long time. Can you really believe that the interest rate as far as bridge loans are concerned is about 9%? This is really high. Suppose you take $10000 loan. Then you will be required to pay an interest of $900 per month. You can easily understand that this is really a big ask and you will really fell in trouble. However you need not worry because you can keep the worry in any corner of your house by just paying back the amount within two to three months.
Now the question arises that what will you do with the loan amount. The answer is simple and straight forward and that is, the money will be used for repairing the house. Once you have repaired you house you will then try to sell it in the market for higher price. And I assure you that you will succeed. The newer looking house will lure the buyer to pay more and buy it anyhow.
This is a cat mouse game. You took the bridge loans, repaired the house and then sell it at higher price. You can now easily pay back the amount which you took as a bridge loan. Hence we see that bridge loan is advantageous in this case. And why not, the borrower uses his mind and make sure that he pays back the bridge amount as soon as possible so that he does not suffer from higher interest rate.
I have seen many real estate investors who go for bridge loans when they are wiling to flipping some house. However common man also goes for bridge loans. There might be the case that your house might not be in good condition and you might be in double mind. Suppose you want to sell your house. Since the condition of your house is not good you might not be able to sell it for more. However you can always repair your house and then sell it for higher rate. However you might not have the money too. What can you do now? The answer and in fact the solution is bridge loans. These are short term loans as I have stated earlier. You must however be confused that why it is called short term course? I will answer this question.
The interest rate of bridge loan is so high that only a fool will take it for long time. Can you really believe that the interest rate as far as bridge loans are concerned is about 9%? This is really high. Suppose you take $10000 loan. Then you will be required to pay an interest of $900 per month. You can easily understand that this is really a big ask and you will really fell in trouble. However you need not worry because you can keep the worry in any corner of your house by just paying back the amount within two to three months.
Now the question arises that what will you do with the loan amount. The answer is simple and straight forward and that is, the money will be used for repairing the house. Once you have repaired you house you will then try to sell it in the market for higher price. And I assure you that you will succeed. The newer looking house will lure the buyer to pay more and buy it anyhow.
This is a cat mouse game. You took the bridge loans, repaired the house and then sell it at higher price. You can now easily pay back the amount which you took as a bridge loan. Hence we see that bridge loan is advantageous in this case. And why not, the borrower uses his mind and make sure that he pays back the bridge amount as soon as possible so that he does not suffer from higher interest rate.
Tips and tricks for real estate deals
It's not easy to finalize real estate deals. It is a combined effort of all the members involved in real estate who take part in it. However you must have always thought about the idea which can make a difference. The idea is different for different members. I will list the idea related to each member:
1.For buyers and sellers:
If I am not wrong then it's a general feeling among all the buyers and sellers to finalize the deal without real estate agents. But I must ask you that are it possible to perform an operation without a surgeon. Yes, it's really impossible. Similarly you should make it in your mind that real estate agents, lawyer and realtors are as important as the surgeon in operation. However I will insist you to learn something about real estate. This will really help you during bargaining of real estate agent.
2.For real estate agent:
Nobody can neglect the hard work which a real estate agent has to do in getting the real estate license. After such a hard work you can't expect anybody to go wrong even for once. However, I will advice them to follow the rules very sincerely. It might be that in future some problem arises related to real estate. I must tell you that this happens occasionally but you should take some caution. If you will do your job sincerely and without any illegal steps, you will definitely have no problem, whatsoever in resolving these problems in future. They have also to compete with other real estate agents. But I have sited one very good thing about their community. You will really find a great unity among all the real estate agents and it is due to this unity that you will seldom find any disputes among all the real estate agents.
3.Realtors:
Realtors have an edge over real estate agent as far as their association is concerned. However I will advise them to follow the rules which are laid down in their rulebook, if they want to stay ahead of the real estate agents.
4.Lawyers:
The lawyers related to real estate have great competition among themselves. However every lawyer wants to be at the top. The question arises what should be done to target victory. There is no trick which a lawyer can feel that the other doesn't know. In fact the trick related to them is a race. Whoever runs faster will be the winner. I hope you got the point.
I have told you some tricks and tips. However I must tell you that the most important key in the field of real estate is truth. You should never try to hide something. If you do so you will only be the sufferer.
1.For buyers and sellers:
If I am not wrong then it's a general feeling among all the buyers and sellers to finalize the deal without real estate agents. But I must ask you that are it possible to perform an operation without a surgeon. Yes, it's really impossible. Similarly you should make it in your mind that real estate agents, lawyer and realtors are as important as the surgeon in operation. However I will insist you to learn something about real estate. This will really help you during bargaining of real estate agent.
2.For real estate agent:
Nobody can neglect the hard work which a real estate agent has to do in getting the real estate license. After such a hard work you can't expect anybody to go wrong even for once. However, I will advice them to follow the rules very sincerely. It might be that in future some problem arises related to real estate. I must tell you that this happens occasionally but you should take some caution. If you will do your job sincerely and without any illegal steps, you will definitely have no problem, whatsoever in resolving these problems in future. They have also to compete with other real estate agents. But I have sited one very good thing about their community. You will really find a great unity among all the real estate agents and it is due to this unity that you will seldom find any disputes among all the real estate agents.
3.Realtors:
Realtors have an edge over real estate agent as far as their association is concerned. However I will advise them to follow the rules which are laid down in their rulebook, if they want to stay ahead of the real estate agents.
4.Lawyers:
The lawyers related to real estate have great competition among themselves. However every lawyer wants to be at the top. The question arises what should be done to target victory. There is no trick which a lawyer can feel that the other doesn't know. In fact the trick related to them is a race. Whoever runs faster will be the winner. I hope you got the point.
I have told you some tricks and tips. However I must tell you that the most important key in the field of real estate is truth. You should never try to hide something. If you do so you will only be the sufferer.
Saturday, November 1, 2008
How to buy US Properties
Buying a real estate in US is not a new deal if you are from France or any other country. You will really feel that it's great to buy a property in either Florida or California. It would really be nice if we have one condo in Sonoma county or even better if we book a lakefront or beach front houses. I assure you that US is such a vast country that you can find any type of climate and property which you can find nowhere else. I can easily let you know the whole process but you will be fooled if you are not told about the present economic crisis. However I will insist that you better keep this crisis away while reading this article. The only thing which we can hope is that the crisis ends as soon as possible.
Leaving apart the economic crisis, you will find all kinds of properties in US. Either it is condos, single family house or double family house. Either it is lakefront or beachfront house; all kinds are present in US. I assure you that there are very few countries in the world which are as good as US. Either it's the heat of Colorado Desert or the chill of Florida beach; you cannot find any property which can be stated as useless. The population of US is very intelligent and you can expect that none of them makes a property which is not good.
I have been in most parts of US and it's my general feeling that either its Chicago or Texas, I can't find any place which can be stated as useless. However I must tell you that the real estate team is very popular in US. In fact every four deals out of five are finalized by real estate agents. According to the rules of US government it's mandatory to hire real estate in most of the states in US. There are some steps for you.
1.Hire the real estate agent and tell him about your choice. The real estate then gives you a list of real estate properties which is according to your choice. You will have to check one property from all of them.
2.Once you finalize the real estate property, the real state agent then meets the seller from your behalf and find out whether he is ready. The real estate then informs every aspect of the deal to you and then asks you to finalize the deal.
3.The real estate agent then asks you to get your finance ready.
4.Once you are ready, he prepares an agreement with the help of lawyer and also arranges a meeting between you and the seller.
5.Its now on you to to sign the agreement and once the agreement is signed you will have to give an amount as a down payment and the rest of the money can be paid according to what has been written in the agreement.
In this way the deal is finalized and you are able to buy a property in US. However these days the market is very down and every one is facing problem. However it will be according to every ones profit that this lean period ends.
Leaving apart the economic crisis, you will find all kinds of properties in US. Either it is condos, single family house or double family house. Either it is lakefront or beachfront house; all kinds are present in US. I assure you that there are very few countries in the world which are as good as US. Either it's the heat of Colorado Desert or the chill of Florida beach; you cannot find any property which can be stated as useless. The population of US is very intelligent and you can expect that none of them makes a property which is not good.
I have been in most parts of US and it's my general feeling that either its Chicago or Texas, I can't find any place which can be stated as useless. However I must tell you that the real estate team is very popular in US. In fact every four deals out of five are finalized by real estate agents. According to the rules of US government it's mandatory to hire real estate in most of the states in US. There are some steps for you.
1.Hire the real estate agent and tell him about your choice. The real estate then gives you a list of real estate properties which is according to your choice. You will have to check one property from all of them.
2.Once you finalize the real estate property, the real state agent then meets the seller from your behalf and find out whether he is ready. The real estate then informs every aspect of the deal to you and then asks you to finalize the deal.
3.The real estate agent then asks you to get your finance ready.
4.Once you are ready, he prepares an agreement with the help of lawyer and also arranges a meeting between you and the seller.
5.Its now on you to to sign the agreement and once the agreement is signed you will have to give an amount as a down payment and the rest of the money can be paid according to what has been written in the agreement.
In this way the deal is finalized and you are able to buy a property in US. However these days the market is very down and every one is facing problem. However it will be according to every ones profit that this lean period ends.
Atlanta real estate for sale
Atlanta is one of the busiest places in US. You will find almost all kind of real estate properties in Atlanta. No one can forget the Atlanta Olympics. I too remember that Atlanta proved to be a successful venue that time. Olympics are just an example. I assure you that Atlanta is really a very good place and everyone will enjoy it. You can query from the Atlanta inhabitants and I assure you that you will get only one answer and that is you will enjoy the trip to Atlanta.
You can find condos, lots of lakes and lake front apartments. You can get everything. However there is a process which should be followed to buy the real estate. You cannot directly contact the seller. You will have to follow a certain procedure. The first thing which is required is contacting real estate agents. Real estate agents should really be contacted at first. You can say that finding the property should be the first priority. However I must tell you that there are number of real estate properties whose details are not present in the market. You can find the detail only through real estate agents. Hence not only me but everyone will insist you to contact real estate agents.
Once you have contacted the real estate agents, your next step will be to cooperate with the real estate agents. If you will cooperate then the real estate agents will find it better to work with you. They will tell you about all the properties which they know and will also insist you in buying the best property which is in your financial range.
Once you find that you have selected the property which you are going to buy, your next step will be to ask the real estate agent to get the contract ready. Once the contract is ready and you fell financially sound, then you can move for the final deal. You will have to pay a down payment at the time of the contract and the rest amount will be paid as written in the contract.
You can search via school or neighborhood, there will be so many properties that you will have to think twice before making any final decision. Your decision is very important. You should know that once you have given the down payment, you will not get it back and hence you will be bound to buy that property. However if you will do more research, you will find yourself right on most of the occasion.
I must tell you that you will get all type of properties. Some favors single families, some favor multiple families and some are condominium. You will find some condos which will be great for vacations. However you will really enjoy.
You can find condos, lots of lakes and lake front apartments. You can get everything. However there is a process which should be followed to buy the real estate. You cannot directly contact the seller. You will have to follow a certain procedure. The first thing which is required is contacting real estate agents. Real estate agents should really be contacted at first. You can say that finding the property should be the first priority. However I must tell you that there are number of real estate properties whose details are not present in the market. You can find the detail only through real estate agents. Hence not only me but everyone will insist you to contact real estate agents.
Once you have contacted the real estate agents, your next step will be to cooperate with the real estate agents. If you will cooperate then the real estate agents will find it better to work with you. They will tell you about all the properties which they know and will also insist you in buying the best property which is in your financial range.
Once you find that you have selected the property which you are going to buy, your next step will be to ask the real estate agent to get the contract ready. Once the contract is ready and you fell financially sound, then you can move for the final deal. You will have to pay a down payment at the time of the contract and the rest amount will be paid as written in the contract.
You can search via school or neighborhood, there will be so many properties that you will have to think twice before making any final decision. Your decision is very important. You should know that once you have given the down payment, you will not get it back and hence you will be bound to buy that property. However if you will do more research, you will find yourself right on most of the occasion.
I must tell you that you will get all type of properties. Some favors single families, some favor multiple families and some are condominium. You will find some condos which will be great for vacations. However you will really enjoy.
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