Archive for September, 2010
Sep
27
Property Ownership in Chandigarh
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The Chandigarh Housing Board (CHB) has finally decided to change with the times. In a major pro-people move, it has decided to make property transactions in the city hassle-free by allowing mutual sale and purchase of dwelling units by allottees. Until now, the transfer of CHB flats in Chandigarh was based on the general power of attorney, a system rife with defects and legal complications.
But all that is now passé, with the board of directors of CHB deciding on February 20 to make their flat transfer policy people-friendly and transparent. The new move will benefit a substantial number of about 50,000 owners/allottees of CHB dwelling units in the city, and will change the way property transactions are carried out in the region. Most importantly, it will offer relief to people whose properties have been lying blocked for years due to legal wrangles.
The CHB, ever since it came into existence in 1971, has been a witness to countless problems posed by GPA transfer policy. Due to stringent laws governing the sale and purchase of residential property in Chandigarh , a majority of allottees had resorted to sale through general power of attorney.
Since initially the CHB did not recognise GPA, property transaction through this system led to several complications including legal battles between the original allottees and buyers on the one hand and original allottees and the CHB on the other. This often led to blackmailing by allottees or their legal heirs who found it convenient to extract money from interested buyers of residential property. This was besides the hefty premium which buyers paid to allottees/sellers.
The practice naturally allowed property dealers to mushroom and make hay as they negotiated deals between various parties and charged heavily in the guise of completing endless formalities besides charging their commission. The GPA transfer system had bred corruption in the ranks of CHB, particularly in public-dealing branches.
Keeping in mind these complication, the CHB had, in 2001, come out with a policy to regularise GPA sale by fixing charges for the transfer of property by original allottees besides also fixing terms and conditions like clearance of dues, retention of original structure of the dwelling unit, respect for building bylaws etc. The regularisation of GPA, however, helped little, with buyers of residential units continuing to face harassment.
The new mutual transfer policy will bring buyers and sellers face to face for the first time and eliminate the role of middlemen like property dealers. The move will also end the nexus between property dealers and officials by allowing genuine buyers and sellers to own property in a legal way.
Besides, it is expected to bring revenue to Chandigarh Administration as transactions would involve the payment of stamp duty and other prescribed charges. Until now, stamp duty worth crores was being evaded in the name of large scale sale and purchase of CHB flats through GPA. The new policy will protect the financial interests of Chandigarh Administration besides being people-friendly.
Meanwhile, the board had said GPAs taken to date would be acceptable till the time the new policy came into effect. It has added, however, that people would eventually have to own property on the terms and conditions specified in the mutual transfer policy.
Further in a bid to curb speculation, the CHB has categorically said that GPA holders will no longer be eligible to apply for flats in any of its residential project schemes. Residential property, say board officials, must go to the shelter-less people. The board has meanwhile also allowed transfer of residential property in Chandigarh on the basis of one surety. Earlier two sureties were required.
Repossession
Sep
24
When does a commercial lease in Scotland become legally binding on the parties?
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Is it when the missives are concluded or when the lease is signed by both parties?!
Sell and Rent Back
Sep
23
Shops For Sale Rent And Lease In Jodhpur
Posted by: | CommentsBalaji Properties, As real estate agent, has a vast portfolio to offer Buy property Sell Property, For both office and homes, a large number of quality listings in the preferred areas of Pal road, jodhpur Kheteshwar nagar, vaishali township, anand vihar, roop rajat township, mahaveer vatika, shanti villa, Rameshwar nagar, bajrang vihar and more other prime location of jodhpur.
Company gives you detailed info on Jodhpur property market and list the leading real estate agents in Jodhpur for your reference.
Company deals with populer builders like Parsvnath, Ansal API, Vaishali Builders, Rooprajat Builders, Aayushi Builders many more are developing major residential and commercial property in Jodhpur. With the positive growth of the market, the property prices in Jodhpur are bound to rise further and thus fetch high capital returns for any property investment in Jodhpur. As the lifestyle of people is changing with increased per capital income across the nation, there is clear uplift of the upcoming Jodhpur commercial and residential properties.
Balaji properties involves in Real Estate Property Dealing for Buying Property, Selling Property, Investing in India, Rental Properties for Sale, Joint Ventures, Collaborations. Specialists in Expatriate housing. Commercial property – long term, short term, buys & sells. Homes, offices, shops, residential, Commercial, Land, Development projects, Retail shops in flourishing markets, Investments, Schools, Colleges, Plantations, Hotels, New homes. Fast find suitable property at right price. Buy home in Jodhpur. Sell property through us. Office Lease, Large spaces Commercial property rentals, Buy property, Representational Residences, houses. We help you to quickly locate good quality real estate – Residence, Home, Apartment or an office, Industrial land, Buy land around Jodhpur.
If you are thinking of investing in real estate sector than investment in jodhpur real estate is a excellent option.
Repossession
Sep
22
Lasalle Say UK Commerial Property is a Buy in 2009
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The UK commercial property market has become best value in the world for investment, according to the annual strategy review by global property fund manager LaSalle Investment Management.
LaSalle, believes that so-called “fair value” – prices offering good rates of return compared with long-term bond rates – has been reached.
2008 has been one of the worst years on record for the sector in the UK which has fallen first and hardest across global property markets, making it now one of the most attractive areas for investment, although further modest price falls, are expected. This view contrasts with RICS which has forecast a further 25% fall in commercial property in 2009.
It thinks 2009 and 2010 will be “great years for an offensive strategy because there will be many attractive deals for those with equity and the skills to identify good value”. Australia, Germany and Korea are also recommended.
In the UK they may be right if void rates do not rise above 10%. But if the UK government policy initiatives fail to arrest the deflation of the economy, and more occupiers collapse then all bets are off. Those investors who do come back to the market will have to be equity investors, because it does not look like the banks will be in a position to fund the market, and given that HSBC has completely ruled itself out, there is little incentive for others to provide capital.
About UK Business Property
Whilst there are more than 20 portals covering residential property in the UK the commercial property market remains relatively unserved, with no site having a majority share of the total available commercial property listed. The internet has taken a significantly greater share of all advertising spend each year as it continues to prove that it is the most effective medium for advertisers to reach their audience.
Traditional estate agency methods remain quite successful in reaching the local market around a property, but do not capture leads from the national and international markets at all well. With increasing mobility of populations and business in the global village, it makes sense to expose commercial properties as efficiently as possible to the whole market. In 2006 there were 6 million searches (based on figures from Yahoo Search) made on the internet in the UK for commercial property of all types. Many of these searches will be fruitless as major search engines do not expose many of the available properties at present.
UK Business Property aims to change this by offering commercial agents important incentives to bring all their properties to the whole market. By linking to UKBP agents will bring more traffic to their websites. For agents who do not yet have a fully featured search on their website UKBP offers it’s advanced search functions free of charge, in an easy to implement solution. The advantage is that you keep your visitors on your site and build your brand in your local market, while receiving leads from a national and international audience.
UKBP is committed to supporting agents, with advantageous Agency Terms and a profitable opening offer to it’s Founder Members, who Register and upload their properties before 28th February 2007.
Sell and Rent Back
Sep
17
How do I get started in the commercial insurance industry? (sales)?
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I am looking to start a career in the Insurance industry, specifically the commercial insurance industry, which I have heard can be extremely lucrative. I do not have any insurance experience, but have outside and inside sales experience in the mortgage and auto industry. I would be willing to start at the bottom, go through training, etc, to secure a position. I am not sure where to start or which companies to look at, does anyone have any suggestions.
Repossession
Sep
16
Tourism and Commercial Property For Sale in South Africa offers great value. There is such a diversity of choice with a range of Hotels,Guest Houses,Shopping Centres,Service Stations,Game and Safari Farms and Lodges, Businesses, Blocks of Apartments/Flats and Offices For Sale.
With stronger overseas currencies there are now great opportunities to cash in on the buzz about the 2010 Soccer World Cup. The world’s attention will be turning to South Africa.
From the metropolitan areas of Cape Town, Johannesburg, Port Elizabeth and Durban to the smaller country areas of the Kwazulu Natal South Coast and the Garden Route there is a wide choice of Commercial and Tourism Property For Sale in all the different sectors.
Property For Sale in South Africa is well worth investigating. From the Kingdom of the Zulu to the splendour of the Cape there is something for everybody.
Businesses For Sale can range from Letting Agencies, Service Stations, Bed and Breakfasts, Hotels, Holiday Resorts, Hardware, Extreme Sports, Supermarkets, Restaurants, Guest Houses. In face almost anything that you can think of.
South Africa has a climate second to none with the sub-tropical region of Kwazulu to the milder Eastern and Western Cape. There is a choice of large metropolitan areas such as Johannesburg to the quieter more sedate areas such as Nelspruit and Kimberley. Basically something for everybody.
After 25 years experience in the South African Real Estate Industry I can point you in the right direction.
See my site at http://south-africa-real-estate.blogspot.com
Phone: +27(0)393171026
Fax: +27(0)865168049
Email: alanbutterworth@telkomsa.net
Quick Property Sale
Sep
15
Does anyone know of any websites that might be free and helpful for me to search in to see if any properties are for sale that would fit my conditions?
Sell and Rent Back
Sep
14
We Sell Properties Fast for Cash to Help you Pay your Debts
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We can help if you need to sell properties fast for cash. If you are in financial difficulty and think that selling your home is the answer, then let us help you. There are times when it takes too long to sell a property on the open market. At St Genix Fast House Buyers, we specialise in advising you on how to sell a property fast for cash. There’s no worry and no stress. It could take less time than you imagine to free up the equity in your property and get the cash you need to stage a financial recovery.
We can help with quick property sale. Our service is fast and reliable. With a fast house sale, you can escape the problems of increasing debt. If your loans and store cards are getting our of hand, then it’s time to act now so that your credit rating remains intact. Otherwise, you could find it difficult to get a loan. If you sell properties fast for cash, you can get back on track.
Advantages Of A Fast House Sale
We guarantee to sell properties fast for cash, so that you can avoid having to wait for months while an estate agent tries to get a deal. If you want to get back on track and get the cash you need, then you need our fast house sale service. When we arrange a quick property sale, no one else is involved. We are direct buyers and can offer you a good price for your property. When we arrange a quick property sale:
Legal costs are low
The money you spend on bills and mortgages is reduced
You save on paying an estate agent
You get a hassle free, guaranteed sale in four weeks or less
If you have a problem with debt, then you may need to sell properties fast for cash. You can count on St Genix Fast House Buyers to organise a fast house sale so that you can use the equity that’s locked up in your property. When you sell properties fast for cash, we’ll even talk to your creditors. It can be painful and embarrassing to deal with debt, and we want to help you.
When we talk to your creditors, we can say that you have arranged a quick property sale. They will know when the completion date is, and if necessary we will attend repossession hearings to inform the court of your actions to solve the debt problem. When the sale goes through, you don’t even have to move out. Just ask about our rent back deals.
If you are ready to sell properties fast for cash, phone St Genix Fast House Buyers. We are experts in this field and you can sell your property to us in less than a month. Call us free on 0800 316 7600 to arrange a valuation.
Repossession
Sep
10
Getting Started as a Commercial Mortgage Broker
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Tips to get you into one of the hottest industries in the US.
Are you ready for a change? Have you been looking for an opportunity for uncapped earning potential while making your own hours? If you have a mind for problem solving and a sincere desire to help people, then the Commercial Mortgage Industry may be for you.
The Commercial Mortgage Industry is quickly becoming one of the hottest industries in the United States. The surge of Small Cap mortgages coupled with the need for knowledgeable mortgage brokers makes this the best time to take advantage of this opportunity. All it takes is a desire to learn and grow and the right partner on your side.
As with any industry there are obstacles you must overcome to be successful. For the Commercial Mortgage Industry, these barriers include (but are not limited to):
-Proper training in commercial underwriting.
-Lender relationships and loan programs
-Deal Flow. Getting clients in the door.
-Geographical service limitations.
The first step to getting your foot into this hot industry is the proper training. As you are looking for training, it is important that you find the most in depth and comprehensive training possible. While most direct lenders will provide free training, the training is almost always directed toward the loan products offered by that lender. This type of training, while valuable, will not provide you the breadth of knowledge you will need to be successful in this highly competitive industry. Look to the established industry organizations like the Mortgage Bankers Association or the National Association of Mortgage Brokers for better training opportunities. Another option is to look for a company that serves the interests of commercial brokers as a whole. These companies should provide the best training options and may also include other services that will make your transition a bit easier.
The role of the commercial mortgage broker is to provide financing solutions for commercial property owners. Often brokers are called upon for seemingly difficult financing scenarios. The key to finding a solution is locating the right lender with the right loan product. In the past, this meant a lot of research. There are hundreds of sources for commercial loans representing thousands and thousands of financing options. The best route for someone new to the industry is to locate a database of lenders that will allow you to input the loan information and allow the system to narrow your search to a handful of potential lenders. This technology is somewhat new to the commercial industry so be careful that the database allows you to search programs from multiple lenders, not just one or two. Keep in mind that these lenders want your business, you are their client. They should be willing to do the work required to match a loan program to your needs.
So now you have the training and the lender options in place, now comes the most important piece, the clients. You will spend the majority of your time looking for borrowers that need your assistance in helping them find the right financing. The key to building a client base is education. You must educate your potential clients in the commercial industry and above all why they should work with you. Marketing to potential clients is both time consuming and can be costly. Finding the best way to market yourself will require a bit of research and testing. As you build your business you will find that most of your clients will come from referrals. These referrals can come from friends, family, or your network of existing contacts. Be sure to let everyone you know that you are now a commercial mortgage broker and what services you provide. You may be surprised to find that your existing contacts may be your best source for business.
What about commercial mortgage “leads”? Many companies offer leads that you can buy. Just be careful about buying leads. Some can be great, but some can be a great waste of money. Leads are often offered to multiple brokers at the same time and you will find yourself competing with several (or many) other brokers for the business. The key term you want to keep an eye out for is “exclusive referrals” not leads. This means that you are the one and only broker receiving that referral and in this industry, a referral is gold. Exclusive referrals are of course not free. Often they are part of a membership to a brokerage service which includes additional services as well. Be aware that these golden opportunities may mean a commission split with the provider that may take up to half of your income. The best advice is to go into any lead or referral situation with your eyes open.
The final aspect you need to keep in mind as you venture into the commercial mortgage industry is your geographical reach. I don’t have to tell you that if you limit yourself to working deals solely in your local area, your earning potential will be equally as limited. Though it will take time, or just the right partner, your best bet is to serve as large a geographic area as possible. This flexibility will enable you to increase your potential client base and your potential income. Once you determine your target regions you will need to obtain the necessary licenses and qualifications to do business in those states. A few states require a special license to broker commercial mortgage loans. However, most states only require a basic qualification to do business. You should always consult your attorney to make sure you are taking the necessary steps to operate your business within the constructs of the law. It is a reasonable expense given the peace of mind you will have in knowing that you are conducting your business in accordance with the law.
Finding the right partner or mentor is a great way to start your career in the commercial mortgage industry. We all know it is much easier to get into something new when you have a friend that already does it. How many people decide, on their own, that skydiving is a good idea? It takes a friend that knows about it to get you involved. To show you the ropes and get you off the ground. This puts you more at ease with trying something new. Knowing someone who has “been there done that”. In the commercial mortgage industry, a little research and networking, will allow you to find the right partner to help get you started in this exploding industry.
In summary, the commercial mortgage industry provides a wealth of opportunity for those willing to put in a little hard work. While there are many companies out there that are willing to help and do provide a valuable service, there are equally as many, if not more, that are of no value to you at all. Do the research and go in with your head up and your eyes open and you may find wonderful opportunities within the commercial mortgage industry. Good luck!
Repossession
