Don’t you just love old French houses? Character, charm, beauty… dry rot, rising damp, termites. If you’re looking for old French property beware of what you don’t know!

Whether it’s touring around France or simply looking in magazines or on websites, there’s a charm and attraction about an old French house that’s difficult to beat.

They come in just about every size and shape too. From a tiny little French cottage, covered in flowering climbers, to a regal chateau set in acres of manicured lawns. Whatever your budget there’s an old French house that will suit you.

It’s easy to be seduced too. They’re often not only a delight to look at but also very affordable. It depends where you’re coming from, of course, but for many people French property can be very cheap.

Provided you have your eyes wide open, that is. Now I hate to put a dampener on things but if you don’t have your wits about you, French property can be a money pit. A big hole in France that swallows your hard-earned cash at an alarming rate!

It’s not that anybody is out to rip you off – at least not the French agents. French property agents are almost invariably highly professional and they’re also highly regulated. That’s not the problem.

Please don’t take this the wrong way but the biggest problem is probably you. OK, now maybe this isn’t you precisely, but this is what I see all the time. It’s the rose tinted glasses – everything looks lovely and faults are overlooked, and it’s the lack of knowledge of the language so things get misunderstood.

So here are some top tips from someone who has bought an old French house and, after a few pitfalls, lives in it very happily.

1. Learn as much French as you can. I’m not saying you have to be fluent but the more French you know the less you’ll be a confused bystander when the French property agent and the French house owner start speaking to each other, or to a builder, or whatever.

2. If you’re not a fluent speaker get every piece of paper translated. Don’t sign anything until you know exactly what it says. You may think this one’s obvious but I’ve met people who have signed paperwork not realizing it could cost them thousands if they change their minds.

3. Learn about the French house buying process. It’s different to the way they do it where you come from. You need to know what you have to do to buy your old French house and when you need to do it. Delays can cost you money.

4. You need to look at any old French house with a clear head. Get accurate quotes if renovation is required. The agent may have a brother whose cousin “does that sort of thing all the time” and says it won’t cost much but don’t just take their word for it. Renovation of old properties can be very specialized and very expensive.

5. If in doubt, ask. If still in doubt, make a nuisance of yourself until you’re absolutely sure. French real estate agents are well paid – make them work for it!

Buying an old French house needn’t be difficult. It just requires you to do a bit of research. The agent will normally be a great help – really – and quite often speak English. However, they’re used to dealing with people who know how the system works so they might pass quickly over certain things they take for granted.

By Jeff Seems

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Technorati Tags: cheap house, french house, house for sale

Currently, repossession properties make up 20% of all homes sold at auction. This figure is constantly rising due to the financial crisis in the UK. Banks and lenders are now moving even more quickly when it comes to repossessed houses and are looking to sell them on their first day listed at auction. What does this mean for potential buyers? low prices. The banks and lenders will be willing to sell low in order to force a quick sale and recoup funds.

Property auctions are the best place to buy repossessed homes, but it’s important to know what you are doing and not end up paying over the odds. Below we have added some quick tips to Repossessed Homes UK so that you can hopefully pick up a bargain repossessed property.

1. Do Research
– Make sure you know the area you are buying in.
– If buying to let then know the rental market.
– If the area has Universities or hospitals nearby then finding tenants will be easier.
– Check the market rate in the area especially on the same street.

2. Auction Trial Run
– Visit Property Auctions as a test and familiarise yourself with the process.
– Watch how others bid.
– Obtain Auction Catalogues from auctioneers.
– If interested in a particular property see if there are other documents available from the auctioneers.

3. Visit The Property
– Make a visit to the property, don’t just rely on catalogue descriptions.
– Take a builder with you if possible to get an idea of how much renovations may cost.

4. Pay for a Survey
– Surveys are essential and can ultimately save you thousands if it means you avoid buying a dud property.

5. Have a Price Limit and Stick to It
– When attending auction, have a maximum bid price in your head for a particular property and STICK TO IT. It’s easy to get carried away in auctions with other bidders present but it can ultimately prove costly.

6. Arrange a Mortgage Before The Auction
– Don’t bid on a repossession property unless you are sure you can get a mortgage.
– Exchanges are done on the day of property auctions.
– You will need to complete within 20 days.
– Never apply for a mortgage after you buy at auction, if your application is rejected you risk losing your deposit.

7. Make Sure Your Deposit is ready
– Make sure you have the 1000 10% ready to put down as deposit on your repossessed property.
– Take chequebook and identification to the auction.

8. Factor in all Costs
Remember that there will be many costs involved and don’t forget to budget accordingly.
– Survey Fees
– Deposit
– Auction Fees
– Stamp Duty
– Solicitor’s Fees
– Renovation Costs for the repossessed house
– Insurance Costs
– Future Mortgage Payments
– Other Costs

9. Calculate Taxes You May Need to Pay in the Future

10. Cover your Mortgage Payments
– If buying to rent the property out, it is not certain that you will get a tenant on the first day, or if there is renovation you will have to wait for a tenant. During this time the mortgage will still need to be paid so factor this in also. We advise to have at least 3 months payments in reserve.

Visit Repossessed Homes UK to find further free information on property repossession or buying repossessed homes.

By: isxrc

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Technorati Tags: foreclosure auctions, foreclosure lists, homes, preforeclosures

Life can be surprising and can realize your dream of getting good cash for homes quite quickly. If you are dreaming of getting good cash for homes then there are some important tips that you need to learn. There may be any situation in your life that may force you to sell your house like meeting emergency cash, paying for a medical expense, shifting to a new house or to any other country. There may be several reasons for which you may have to shift from your present home. And if you are thinking of a quick sale home deal at this point of time then you will be glad to discover that it’s a completely buyer’s market today.

There is no scarcity of potential customers in the market. You can attract as many as you want by following few important techniques. The first thing that will help you get good cash for homes is the cost of your house. The price that you propose to the various interested buyers matters a lot. You certainly cannot keep the price of your house higher than the price offered by your neighbors. Also, at this point of economy you can get a good price for your property. The buyers who are interested in purchasing your house will not pay attention to what you quote as the actual worth of your house is? They will certainly go with the revaluation done by property dealers to know where your property actually stands. If you’re looking forward to get good cash for homes then the best way is to keep your rates competitive in the market. Competitive rates do not really refer to selling your house at a loss but you must at least not place it above the actual market value.

If you are looking for a quick home sale due to your job transfer then you may be in a luck as most of the if large business organizations and provide assistance to their employees in which they purchase the property for you at the market price. It is an added advantage as you are able to move quickly to your new job and are able to get good cash for homes as well.

Lastly, you will have to see if you’re selling your home at a stressful situation. When you find a potential customer who is as much in need of a property as you are then you can certainly negotiate the price and make it beneficial for both of you. Never think that the first customer that you attract towards your property is the last customer as the market is flooded with potential cash property buyers. You can also take the help of the Internet on which you will find different online companies that are w 1000 illing to purchase your house and pay good cash for homes at any point of time at the proposed market value. You can also take the help of such companies to quick sale home and move to your new location.

You have a plenty of option if you are not interested in selling your property to the help of real estate agent.

By: Ron Harper1

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Technorati Tags: buying foreclosure, foreclosure, foreclosure property, free foreclosure, homes

Below are some common questions for property auctions:

Why Should I Buy At Property Auction?
There are numerous reasons for buying at property repossession auctions. All sellers at auction are motivated to sell and want to sell quickly. This often means that they are willing to sell their property at a low price. Often the residential properties will renovation work carrying out which means there is an opportunity for the buyer to make some money and also increase the value of their property. Also once the hammer falls at a property auction there is no chance of going back on a deal so there is a certainty of purchase.

Are there fewer costs in buying through auction or buying through an agent?
In both cases the fees tend to be similar, there will be legal fees and surveyors fees to payas well as any fees to pay in order to arrange finance. When buying at auction you will need to pay an administration fee to the auctioneers which typically falls between £175 and £300 plus VAT.

What type of houses are sold at auction?
The type of properties sold at auction are repossessed properties which have been repossessed by the bank or mortgage company. As a result the properties may be unmodernised or in need of work. These properties are often different to houses sold at normal estate agents as they may not be immediately ready to move into.

What are the risks of buying at auction?
The risks of buying at auction are similar to those of buying through estate agents. It is important to make sure that u have done all of your preparatory work on the repossessed property such as legal searches, checking the title and surveying the property to make sure there are no defects. The important thing to remember is that once the auction is over the deal must be followed through and you are not able to go back to the seller afterwards should any problem arise. There are no guarantees on the purchase and you must buy it as it is.

How do I find a bargain at auction?
The key to finding a bargain repossessed home at auction is to have the maximum number of options available to you. You should search auction sites on the internet and contact auction houses directly. Bargains are often properties which are not so popular, so looking for a property with defects or one which needs work can be a great option. However, its important to have the kno 1000 w how or ability to deal with defects so that it turns out to be a bargain and not an expensive bargain! When buying at auction, many buyers often leave with ownership of their property at a price much lower than what they were prepared to pay and in case this automatically becomes a bargain.

How can I identify repossessed homes at auction?
There are several things to look out for when identifying a repossessed home at an auction. Check the auctioneers catalogue. In some cases it will say “by order of the mortgagees”, in other cases it may actually say who is selling the repossession property for example a bank, so the catalogue will say “by order of HSBC”. In other times it will say “by order of the receiver”. These are all ways of picking up a property repossession home at auction. However, not all properties will have this information in the catalogue. If you suspect the property is a repossessed home, the easiest thing to do is phone up the seller’s solicitor and ask them who is the seller.

Visit Repossessed Homes UK to find further information with regards to property repossession or buying repossessed homes.

By: isxrc

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Technorati Tags: foreclosure houses for sale, homes, house listings, house sale

We are in a New Era. Obama. The credit crunch. Globalization. Localization. The economic recession.

Whoah.

The world is smaller. Internationals are looking to buy property here because it is cheap and abundant. There’s a fire sale going on and you don’t want to miss out.

Warren Buffet said in his famous quote “Be fearful when others are greedy, and be greedy when others are fearful.”

Folks, now is the time to let go of fear and get greedy. Not greedy in the bad Mr. Scrooge-sort of way, but get greedy in the let’s make it happen now – I have the power to uplift my whole community if I can get my stuff in gear and make some moves in this market – sort of way.

The pundits say that the market will bottom out this year, which means act now. Act soon. Just Act.

So how can you get in now, when the getting’s good?

Step 1: Stop Listening To The News.

Alternately, I should say stop internalizing it. The news is driven by fear. There is opportunity everywhere. Realize this before it is too late. People will look back on this time we are living right now and say “Wow – that was when the money was made.” In five years you will wish you had acted now. The wealthy are still strong. You can become one of them. Live in the world of infinite possibilities.

Step 2: Get Informed

Use the Internet as your first step. The more informed you are, the better you are able to snag some deals. You can research target markets, trends, neighborhoods etc, and learn about the good deals cheaply and often before everyone else does. Get your preliminary information together. Craft your housing dream. This may include a personal residence or investment residences that you plan to buy and hold for later.

Step 3: Figure Out What You Really Want

After you have done your research, make a list of what it is you really want. Make a plan for what you really want. Maybe you’re just starting a family and are a first time home buyer (you get the sweet $8,000 first-time home buyer tax credit!). Maybe you simply want to buy your first home for now, and build up to owning a couple of investment properties that you will rent out. Maybe your kids are grown and you want to rent your home and move into a smaller apartment. Maybe you would like to take a humanitarian role and buy a couple of section 8 homes (which cash flow like crazy!). Maybe you want an apartment building. Maybe you want to purchase some commercial properties. Find something you like that fits you.

Also, figure out what you can afford vs. what you are willing to pay (these can be very different). For instance, I wouldn’t recommend paying more than a third of your income toward your property if you are paying off a mortgage.

Some advice and things to consider when deciding what it is you really want:

DO buy in a district with good schools. When you are ready to sell your property, this will count a lot to most home buyers and substantially raises the value.

DO plan for holding costs, such as the mortgage you will be paying while you are fixing your property up preparing it for sale, or while you are finding a good tenant.

DO your due diligence in finding a tenant – a bad one will cause you a world of pain. Spend time up front finding a good one.

DO buy with equity.

DO get a good deal on a home that has been on the market a long time.

DO make good use of the fact that we are in a buyers market.

DO think long-term. A buy and hold strategy works better in this market than buy and flip.

Step 4: Cash, Credit, and Hard Money

Once you have figured out what you want, you need to figure out how you will pay for it. It’s no secret that we are in a new matrix. Banks aren’t giving away loans like they were two years ago.

1. Cash

If you are among the wealthy and can pay cash – all the better (get those jaws off the floor – there are still, and will continue to be, scores of people that can afford to do this!). My advice is to definitely contact a real estate wholesaler because cash is still king. With a wholesaler you can easily find what you are looking for for as low as 50 cents on the dollar.

2. Credit

If you need financing from a bank, they have tightened their requirements and you will need a better credit score and a good down payment. Regardless, you can still get a mortgage loan if that is what you are looking for. Have a good credit score or raise a poor one. This is not as daunting as it sounds. It can be relatively easy. Pay off old debts. Clear negative remarks. Get some help. It can be done. Next, you will need a 20% down payment.

3. Hard money

Hard money is awesome. They are like banks but their terms and rates are very different. If you are not familiar, find and read a good article on hard money lenders.

Hard money is an option when cash and bank credit are out.

Step 5: Shop for It

Communicate your needs and wants to either an agent or a wholesaler that can help you get what you want. Develop this relationship. Real estate wholesalers often have their finger on the pulse of the deals and they can find you what you want before everyone else does, and at a much cheaper price. Whichever way you decide to go, whether it is with a realtor, a wholesaler, or even on your own through a for sale by owner sale (FSBO), take advantage of the glut of homes on the market.

No matter what you do, you should look for a discount. In this market, the deals are out there and you would be crazy to buy retail.

I would be very wary of those websites and 800 numbers that make you pay for listings of discounted properties, as these are usually scams and/or use old listings that are probably sold already. Also, banks keep information about their failed loans private, so any site that says that they list REOs (bank owned properties) is probably also a scam.

When considering a property, hire your own inspector and appraiser that are looking out for your interests exclusively.

Step 6: Buy and Enjoy

Congratulations! Whether your new purchase is for your personal use or for building your wealth portfolio, enjoy it and build upon it. Keep moving toward your goal of joining the SuperRich.

by: Miko Crawford

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Technorati Tags: foreclosed home, foreclosed property, homes for sale, real state

You need a new home. Maybe this is your first time looking at homes for sale, maybe you want an investment property, or maybe the move is dictated by a life change. Before you even pickup a homes for sale magazine, there are some important steps you should take. That’s right- you need to get your finances in order. By addressing issues of credit, pre-approval, and your financial position, you will be in a better position to look at the homes for sale that are most appropriate for your needs.

Homes for Sale and Your Credit

The topic of pre-approval and your credit really go hand in hand when looking at homes for sale. Why do you want to be pre-approved before looking at homes for sale? It takes time. Just like the actual tours of homes for sale, the paperwork required to get you the mortgage will take some time. This will also give you a good idea of what homes for sale you can afford to look at. But take it with a grain of salt. Just because a mortgage broker tells you that they will approve you for a certain amount doesn’t mean that you can afford it. Only you know the true state of your finances.

Your credit and credit score will directly impact both the amount of your loan and the interest rate you will pay. This will impact your monthly payment and therefore the price range of the homes for sale you will choose to view. If your finances are in less that tip-top shape, take some steps to sort them out before looking at homes for sale. You might consider paying off debt or addressing any issues with the three credit bureaus.

Know your FICO score when looking at homes for sale. If it’s below 650, consider taking six months to repair your credit before even looking at the homes for sale in your desired area. The short six months you spend rebuilding your credit could save you thousands of dollars in interest over the life of your home loan.

Knowing Which Homes for Sale You Can Afford

Once you have your credit and finances in order, you are ready to look at homes for sale. But wait! How do you know what your price range is? Do not base this decision on what lenders are willing to loan you! You know all those foreclosure homes for sale that you see on the market? Someone loaned those people the money to buy them.

You need to consider your current expenses as well as the costs associated with homeownership. If this will be your first time buying real estate there are a lot of associated costs: mortgage insurance, flood insurance, homeowner’s insurance, taxes, lawn and home maintenance, and utilities. Your combined home ownership expenses should never exceed a third of your total take-home pay. Some experts recommend that you look at homes for sale that are about 2.5 times your gross income. Bottom line- you’ve got some number crunching to do before you start looking at homes for sale.

by John Harris

Technorati Tags: homebuyers, homes for sale, properties for sale, sale by owner