Archive for commercial sale
Jan
08
What happens if you go into financial default on commercial property?
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My sister and I own a commercial building–the business we ran inside went bust thanks to the lousy economy. The building has been up for sale for many months with NO bites. We’ve lowered and lowered it. No one is buying–small town.
My sis and I both work, but this is still financially hard on both of us to keep paying on this building. Mortgage lender has changed our loan to a balloon mortgage, interest only (which saves us several hundred dollars a month), but if I sign it, we have one year & then have to come up with the entire principal, and he said there is NO guarantee they will renew it.
There is NO way we can pay it off in a year. So all this makes me wonder if we should just call it quits, keep what little we have left in our savings, stop working so hard to keep up on the mortgage. Our houses are NOT the collateral–the building is.
Sure, I know we’ll lose both of our top credit standings, but…..this is the pits, and it looks like we could lose it anyway in a year if we sign the new mortgage…..
What else would we face if we stop paying? Is it possible that it’s worth it?? Any other comments for us to think about?
Ananamas, yes, I did like your questions, but wasn’t sure how to implement them. For example, how do I find the kind of businesses who don’t have to be physically present? How do I contact them? That seemed daunting. Also, I think the city council requires that buildings on our block be a retail for customer to walk into.
As far as leasing it, we had some bites, but they ALL wanted to pay FAR less than our mortgage!! Very frustrating. People are low-balling.
Networking with local banks and Chamber about new businesses coming in or expanding–not sure either is happening in this community. No, we’re not in a dead community at all. It’s just the “economy{ thing…..
I’m still very interesting in all your ideas. Just not sure how to make them work. This is maddening.
Repossession
Jan
06
Quick Property Sale in Hertfordshire
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One of the most disturbing situations in a person’s life is undoubtedly that of finding himself or herself in a financial crunch. A bad financial situation can have a negative impact on all the other aspects of that person’s life. Everyone knows that the longer you wait and fail to take any kind of action, the more desperate the situation becomes. This is true regardless of the amount of money you need or owe. Debts keep piling up, and debtors find themselves more and more unable to come up with a satisfactory solution to their problem. What is there to be done when you need a large amount of cash and you need it fast? The options you have depend on how desperate your situation is. While there may be several ways out of this financial crunch, you need to acknowledge the fact that each and every one of them has to be weighed carefully, and all their possible consequences have to be taken into account. For instance, you could borrow money from people you know, or you could take out a loan. What happens when you have to pay those people back or when you fail to pay your installments due to, say, accumulating debts and bills? You run the risk of losing everything you have worked for so far.
While some people see it as the ultimate solution, I’d say that fast property sale is the ideal solution for those in need of large amounts of quick cash. Whatever might be the cause of your bad financial situation, releasing the cash tied up in your property is definitely your best option. Many people dismiss this option on account of misinformation. We are not talking about selling your home and being forced to relocate. We are talking about fast property sale for cash with the possibility of renting it back and continuing to live in the same home as tenant until you have managed to redeem yourself financially and are able to purchase the property back.
If you are interested in quick sale in Hertfordshire, you can rest assured that you’ll find at least one investor that can provide you with a satisfactory resolution to your problem. Fast sale Hertfordshire encompasses all the aspects that have been presented above. The traditional ways of selling your property in Hertfordshire are neither convenient nor time-effective. However, quick sale Hertfordshire represents the ideal solution for those homeowners who need to get hold of the cash tied up in their property, and do so within a short time frame. Fast sale Hertfordshire means selling your home directly to investors (no third parties involved) and being presented with the opportunity to rent back for an agreed period of time, at the end of which you also have the possibility to purchase the property back from your buyer. What could be more convenient?
When speaking of property sale in Hertfordshire (or anywhere else for that matter), the first thing that comes to your mind is probably an estate agency or classifieds. Anyone who has sold a piece of property before will certainly tell you that going to an estate agency is neither time, nor cost-effective. If you need to sell your property fast for cash, quick sale Hertfordshire is by far your best option.
For more resources about Quick sale Hertfordshire or even about fast sale Hertfordshire please review this webpage http://www.graystoke.co.uk
Repossession
Jan
02
Getting Your Commercial Property Purchase Closed: The “Owner Carry”
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With commercial real estate sales volumes down 60% nationwide, it seems as if almost every market is slowing down. Lenders are being much more conservative … and sellers are hesitant to accept that their properties are now 5 to 10% less valuable than this time two years ago.
Here is a tool that may help you be the “Larry the Cable Guy” in your local market and “Git a Deal Done”. You know it already…
It’s called the “Owner Carry”
The owner carry is when your Seller (the current Owner) “Carries” part of the debt you use to purchase their property. This is usually in the form of a note that sits in second position behind the Mortgage.
When you purchase a property with an Owner Carry, you basically have two loans. The first loan is from the bank or other lender and is usually the largest, the second loan you owe to the Seller.
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Power-Play:
If you find a Seller who owns their property free and clear, you can negotiate for a 100% owner carry. In this situation, you provide a down payment and the owner carries a single loan. You don’t even need a bank for this transaction.
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How to negotiate an Owner Carry …
When discussing an Owner Carry with the Seller it absolutely imperative you understand the benefits the Owner Carry gives THEM. You must establish the Owner Carry as a win-win proposition. You win because it lowers the amount of money you must borrow and the cash you need to put into the deal.
The Owner/Seller wins in three ways.
1) No Carry … No Deal …
In many cases a significant Owner Carry is the only way the deal makes sense in the current market – it may be the only way you will complete the purchase and the only way they can sell the property.
With our credit crunch in full swing, negotiating an Owner Carry may be much less difficult than getting a larger mortgage. And when you run your investor’s pro forma you may see that an Owner Carry offers the only way for you to hit your ROI numbers.
Rule of thumb is this:
- The less they owe
- And the more motivated they are to sell – for whatever reason …
The more likely you will be able to negotiate a favorable Owner Carry
2) Maintain an Income Stream …
An Owner Carry allows the seller to maintain an income stream from the property without the hassles of property management. They get Passive Income, You manage the property. For a Seller in trouble who has negative cash flow and is “feeding the beast”, selling with an Owner Carry actually reestablishes positive cash flow for them.
3) Defer Cap Gains Taxes …
An Owner Carry defers the Seller’s Capital Gains tax payments on the amount of the loan.
Summary:
An Owner Carry benefits the Seller because:
- It gets the Deal Done
- It gives them Passive Income
- It defers Cap Gains taxes
Ask for it upfront…
If you need an Owner Carry make sure you ask for it in the LOI. Follow up the letter with the call directly to the seller and tell them why you feel the Owner Carry is a win-win structure. And make sure you let the Broker know this is the only way you will purchase the property. They become an ally in convincing the Seller to accept.
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Power Tip:
If the numbers make sense, you may wish to present a Two-Part Offer:
A higher price with an Owner Carry and a lower price without one. You will basically give them full price, in exchange for favorable terms on the Owner Carry.
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Carry Back Terms:
Ask for as long a note as you can get. Typical time periods are 3, 5, 7 and 10 years. Offer a reasonable interest rate — something around 6% in today’s market. And try to make the Owner Carry co-terminous (end at the same time as) your underlying mortgage.
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Yet Another Power Tip:
If you need money for rehab, here is how you can use the Owner Carry to get that money from cash flow at the property…
When you and the seller agree that rehab is essential, you can ask the seller to defer payments on the owner carry back for a period of several months.
The terms might look like this: a five-year note for $200,000 at 6% interest with no payments for the first six months. This would give $2000 a month for a total of $6000 you can use for improvements … taken right out of the property’s cash flow.
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Those are the basics of the Owner Carry. Make sure you review and understand the concepts. The Owner Carry may be the key to your next Commercial Property purchase.
Quick Property Sale
Jan
01
Buying Foreclosure Properties At Affordable Prices
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Foreclosure properties are one of the best ways to own a property or home suitable for investment opportunity. Foreclosure properties are the real estate of the faulty borrowers who fail to make the payments of loan or mortgages. In turn, the lender of the financial aid seizes real estate of the borrower and makes them fall under the category of foreclosure property sales. The best method to purchase foreclosure homes is through looking at the online foreclosure listings.
These listings include the rough estimate amount, location, infrastructural information and neighborhood areas of the foreclosure property sales in order to offer the interested buyers with most appropriate information. Intensive research needs to be done regarding these foreclosure property sales to own a property at affordable prices.
As there are a large number of purchase foreclosure homes available to choose from, it is better to see all the possible options and select the most affordable one. The interested investors can see the foreclosure properties that will gain value with time and sideline the ones that won’t. There are real estate assessors as well who offer the services of finding the most affordable foreclosure property for the potential buyers.
These assessors scrutinize the online foreclosure listings with great care and research thereby selecting the best cheap foreclosure property for their clients. When purchase foreclosure homes are selected virtually on the Internet, the assessors carry on with a close research of the property in order to see if buying that real estate will be lucrative. There are times when the cost of foreclosure property sales can also be negotiated with the particular seller i.e. the financial institution or government.
Buying foreclosure homes from online details not only saves the time of the interested buyer, they even offer accurate information regarding the date, venue and time of the auctions. By attending the auctions of these purchase foreclosure homes, buyers and their hired assessors can bid the lowest possible price and own the property. These professionals also compute the money for repairs and maintenance. So, purchasing foreclosure properties with the help of online listings and other information can prove to be really beneficial in getting the property of one’s dream at cheap prices.
Quick Property Sale
Dec
28
Commercial Property in Houston Texas
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Finding commercial property in Houston Texas used to be difficult, but there is so much of it now that in Houston commercial land for sale can be found almost everywhere. This is in no way an indication that there are problems selling these kinds of properties, however. It is only that there is so much growth and development taking place around the area that commercial properties continue to be on the rise.
When looking for a ground lease for sale, Houston is one of the best places to find one. For commercial property, this city is one of the best places to go, as well. There are so many opportunities there, but not all investors realize this yet, and so the commercial property Houston Texas often goes unnoticed by those who are trying to decide where to move to or invest in. Fortunately, however, many new investors are moving into Texas, and so the commercial real estate this city has to offer is being bought and utilized.
For commercial retail, Houston is a good choice, because commercial land for sale is both abundant and realistically priced. Investors look for commercial real estate where they are able to purchase it at a good price. If they have to pay too much for it, it will not be a good investment. If they can purchase it too cheaply, it is possible that there are reasons for this, such as the property being in a bad neighborhood. Investors must be careful so that they buy their investment property in a neighborhood that will continue to grow and prosper.
This will prevent them from having problems with deterioration of the neighborhood, crime rates, and other concerns. Naturally, it is not possible to know everything about an investment property before one buys it, because circumstances can change. However, trends can be studied and information can be gathered which will help to protect an investor from serious problems as much as possible.
The market for commercial property in this city is a strong one. In commercial real estate, Houston continues to expand, and this is helpful for investors who are looking for a way to expand their operations and move toward increasing their investments. Not everyone may find the commercial property market here to be the best one for them, but they should certainly pay attention to the market so that they can make a decision as to whether they feel as though the Houston market will be a good choice for them in the future.
Quick Property Sale
Dec
24
im looking to open a night club and im trying to find any resources to help me, all postive feedback is appreciated. thanx.
Repossession
Dec
20
How Can a Short Sale Help Me?
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A real estate short sale occurs when a property owner sells their property for less than the mortgage amount owed to their lender(s). On the surface, this may seem like only the borrower benefits from such a transaction. However, that couldn’t be further from the truth. Note: See our “Are You a Short Sale Candidate” to find out if you or someone you know are short sale candidates.
For discussion purposes we are going to assume a homeowner is a short sale candidate.
For the homeowner, a short sale makes it possible to sell their home for less than the total amount owed. The sale of the property releases the homeowner from their debts and obligations without having to file bankruptcy or endure foreclosure. The homeowner is able to save their credit, regain their dignity and their peace of mind. Lastly, the homeowner will be closer to rediscovering the American dream of homeownership because they are able to amicably resolve their lender(s)’ concerns.
For the lender(s), a short sale can be less costly than foreclosure and can provide an acceptable hedge against future price declines within the market. Also, for lenders that have become insolvent and need to liquidate assets, a short sale is a way to quickly raise capital when compared to the foreclosure option – a process that could take a year or more to accomplish. Lastly, for lender(s), a short sale means a guaranteed loss now as opposed to an uncertain loss in the future. This may be in many instantances a much larger loss.
For the investor buyer, a short sale offers them the opportunity to “Buy a property for as much as 40% or more below market value.” This discount means that they are able to make substantial profits.
For the home buyer, a short sale offers them the opportunity to buy a more affordable home. For some, this is the only way to experience the American dream and obtain homeownership, as the lower price relates to a lower and more affordable monthly mortgage payment.
For the Realtor or consultant, a short sale provides the opportunity to earn a fee or commission for helping a struggling homeowner. In many down markets short sales are the only viable option for continued real estate sales. During difficult economic times and recessions, one or two extra sales per month may be the difference between earning a living or looking for another job. Those extra sales each month can come from negotiating a short sale.
If you are a Property Owner and realize the benefit of negotiating a short sale for your property instead of facing foreclosure or bankruptcy, then we encourage you to Become a Property Owner Member today!
If you are a Realtor and realize the benefit of being able to negotiate short sales, sell discounted properties, and increase your ability to take future listings, then Become a Realtor Member today!
If you are an Investor and realize the benefit of having access to a step-by-step system that teaches you how to successfully negotiate and purchase properties, discounted up to 40% or more below market value, then Become an Investor Member today!
We offer dozens more free articles on our site as well as the Internet’s first step-by-step, “how to” guide that walks everyday people as well as seasoned professionals through successfully negotiating their very own real estate short sales – and at a price you can afford.
Visit http://www.StepByStepShortSale.com for additional information.
Repossession
Dec
17
Is thers commercial property for sale at 187 harborne lane b29 6ss?
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THE PROPRETY IS BEING USED AS A NURSING HOME NOW, IT MIGHT BE BEING SOLD BY MR GHALEIGH
Quick House Sale
Dec
16
Is capital gains tax payable on sale of agriculture land?
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Please clarify in details about applicability of capital gains tax on the sale proceeds of an agriculture land like it’s payable on the sale of other property like a house or a commercial building.Requested response from qualified boarders only.Thanks.
Quick House Sale
Nov
22
Mallorca Property for Sale-top Property Locations to Invest on
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If you seeking to seeking Mallorca property for sale on Spain’s beautiful Costas? Then you should search Online Mallorca property for sale which will help you in purchasing Mallorca property for sale. Many Mallorca properties for sale online real-estate firms provide the best formal, helpful, friendly and no-pressure Mallorca property for sale services to assist you in looking your perfect Spanish hot properties.
Mallorca Property websites have their own database of Mallorca property for sale; you will find a wide collection of Mallorca property for sale, and an equally impressive collection of other Spanish property for sale, in the Cost areas. Whether you are seeking for a Mallorca Property for sale such as villa, town-house, penthouse, apartment, finca, commercial property or a plot, you can rest safe in the knowledge that with many reliable Mallorca property websites have unique approaches. In whole Spain thousand of Mallorca property for sale and rent in Mallorca every year.
Mallorca property websites provide you a wide range of Mallorca properties for sale to choose your perfect location, which is a quite simpler process. You should have a sound knowledge of the Mallorca property marketplace while investing in it. Spain becomes number one property investing choice for many property builders in the UK and investing in a Mallorca property for sale, during retirement or as a second home, many Mallorca property sites offers free service to help you with every stage of such step by step process. Tourists from whole Europe are looking for Mallorca property sale to buy a holiday home to relax in vacations. Having a Property in Mallorca removes the cost of repeated hotel stays; while at the same time make an investment in the property market. International property investors are looking Mallorca property for sale to invest in Mallorca properties.
Mallorca property websites list Mallorca properties for sale; also provide you an insight to what Mallorca is all about. Mallorca property sites offers Mallorca property databases which contains list of more than four thousand Mallorca properties for sale in the most popular purchase areas. Mallorca property rental websites have many property investors who are looking Mallorca property for sale each year then renting the Mallorca properties direct from property owners and Mallorca agents.
Tourism in Mallorca
If you want to stay in Mallorca resorts, town and area guides that include all the information about Mallorca that a tourist would need to enjoy a holiday there, including local attractions, golf, beaches, weather and much more.
Repossession
