The Offer to Purchase Real Estate Form

Writen by Kate Ray

Buying a home is no doubt a major decision for everyone involved. Once you’ve found the perfect property, whether it is your dream home or an investment opportunity, the crucial “offer to purchase” is considered the next step, serving as the basis of the sales or purchase contract.

If you don’t know this already, putting an offer down on paper is not just about price. It is the beginning of negotiations between the buyer and the seller, and the information you provide here will affect the conditions and the outcome of the transaction. Making sure that your goals are met, and that you are protected legally are all important issues to factor in, and it is also a good idea to consider the reaction of the seller towards your offer so that you can position your negotiations well.

Although this process of making an offer to purchase a home can seem daunting especially for the first time buyer, an “Offer to Purchase Real Estate Form” can provide the essential tools to ensure success with this important event. And while this form does not serve to replace the services of a lawyer or experienced realtor, it can accelerate the process as well as save you money.

An “Offer to Purchase Real Estate Form” will give you the necessary knowledge to purchase your home with confidence by giving you a good idea on what to expect, and the know how in deciding what is best for your needs. This form will include the necessary details such as how you will finance the purchase, inspections, repairs and fixtures to be included, terms, costs and so on. Once this form is filled out to your satisfaction, you are well on the way to a worry free experience in the momentous occasion of purchasing your new home.

Kate Ray
Offer to Purchase Form

Tax Deed Sales Can You Still Buy Properties for Pennies on the Dollar at Pennsylvania Tax Sales?

Writen by Joanne Musa

About a month ago I went to the Monroe County Tax Sale. Last year I was able to buy a building lot at this sale for the opening bid which was under $300. By the time I paid the recording fee, realty transfer fee and sale fee, I was up to over $600, but that still wasn’t bad for a building lot that can sell for as much as $25,000 if it can pass a perk test. This year was a different story. I came away empty handed; I only bid on a couple of properties and both of them went up to $5000 or more. Since I would have had to come up with all of the money for any properties that I bid on within an hour after the end of the sale and most of my cash was tied up in another deed and New Jersey tax liens, I didn’t have much cash to play with. There were fewer properties in this year’s sale then last year and more bidders. I believe that there were even more first time bidders at this year’s sale than at last year’s sale. More of the properties were sold, and at higher prices than last year. Even the trailers and timeshares were bid up.

What surprised me the most was a 7 acre lot that was mostly under water that sold for $15,000! On the tax map it only showed one stream that cut across the property and it looked like there was plenty of room to build. But if you actually did your due diligence and looked at the property you would have seen that there were two streams that took up most of the property with a small strip of land in between them. The lot was also irregularly shaped and there were two easements on the property. You wouldn’t have known about the easements unless you did some checking into the title.

Then there was a pond in a development that sold for $1,000. I came to the conclusion that these newbie tax deed investors liked to fish. I also really can’t explain the 0.02 acre lots that actually sold. In past sales, stuff like this would have not gotten any bids and been put on the repository list. It looks like it’s becoming more difficult to buy tax sale properties for “pennies on the dollar” like some real estate gurus claim.

If you plan on going to a tax sale, don’t get carried away by the auction and don’t bid without doing your due diligence first. At the very least you need to look at the property, forget about what you’ve been told about buying through the mail or online unless you have someone who can look at the property for you. For deed sales, you really need to do some type of title search and if you are buying vacant land you must check the zoning on the property.

Joanne Musa is a Tax Lien Investing Coach and Consultant who works with investors who want to learn how to buy profitable tax lien certificates and tax deeds. She is the president of Tax Lien Consulting LLC, a consulting firm for tax lien investors. She is the author of the e books: Tax Lien Investing Secrets and Tax Lien Lady’s State Guide to Tax Lien and Tax Deed Investing, available at http://www.taxlienconsulting.com For more tips on investing in tax lien certificates send an e mail to MoreTips@taxlienconsulting.com To learn about how to do due diligence for tax liens or tax deeds go to http://www.taxlienlady.com/Membership.htm

Expense List for Buying a Home

Writen by Genesis Font

There are many expenses that come with buying a home. The following list is a good example of what to expect:

Down payment A minimum of 20% of the home’s purchase price is usually required for the best loan terms and to avoid paying private mortgage insurance (see below), but it’s entirely possible to buy a house with a smaller down payment.

Monthly mortgage payments Include loan principal, interest, and sometimes additional charges for taxes and insurance.

Property taxes Amounts vary, but the average is around 1.5% to 2% of a home’s purchase price.

Homeowners insurance Again, the cost varies. Call insurance companies for more information, or contact the Florida Department of Insurance for surveys of prices for insurance rates.

Private mortgage insurance (PMI) If your down payment is less than 20% of the purchase price, this can tack several hundred dollars each year to your loan costs until the equity in your home reaches 22%, when you no longer need the insurance.

Maintenance Varies year to year, but you may spend about 1% of the purchase price annually on maintenance and repairs.

Closing costs Include points and other fees charged by the lender, which can add up to 3% of the amount you borrow; title insurance, from a few hundred to over a thousand dollars, depending on the purchase price of your home; inspections, about $200 to $500; and other miscellaneous fees. Many of these costs are negotiable between the buyer and seller, and are dependent on local customs. You can also negotiate with the lender to reduce, and in some cases completely waive, certain costs.

Housing expense ratio Typically, mortgage lenders won’t allow these housing expenses to be more than one third of your household monthly gross income. In other words, 28% of your monthly gross pay (for example, your annual salary divided by 12) is the usual maximum “housing expense ratio” allowed by lenders.

The “housing expense ratio” compares your monthly gross income to “PITI,” an acronym for:

* Principal, or the amount you borrowed, of your mortgage loan

* Interest on the mortgage loan

* Taxes: property taxes

* Insurance: homeowners and private mortgage insurance (PMI)

Debt to income ratio.

On top of the 28% lenders allow for monthly housing expenses, they will usually let you spend another 10% for other debt repayments such as student loans, car loans and other similar loans. Added together, your housing expense ratio and monthly recurring debts make up your “debt to income ratio,” and should not be higher than 38% of your monthly gross pay.

Now the Good News

The good news is that there are tax benefits to owning a home. The IRS lets you deduct mortgage interest and real property taxes, within limits, on your annual income tax return! Contact a real estate or tax attorney for the specifics in your area.

Genesis Font is an SEO and Developer for LoansInteractive.com> Mortgage and Loan Officer Websites. We also offer Quality Web Hosting Services.

Condo Questions You Haven’t Asked

Writen by Henry B. Nathan

Are you sure that you want to buy a florida condo rather than a house?

Let’s talk about the advantages.

You can lock the apartment’s door and travel to Paris or Disney. If you own a house, it becomes a small project. Who’s going to take care of the lawn? And the pool? And what if there is a leak while you am away? Or somebody tries to break in?

You just pay the condo fees and that takes care of the insurance, the landscape, the pool, and the repairs. No more of these pesky bills.

You will possibly meet more people in the elevator or just sitting at the pool. You can make more acquaintances and social life can be better in a condo building.

There might be a nice gym and it’s so convenient to just go downstairs instead of taking the car!

A problem? Just call the condo management or the maintenance man.

They have this nice clubhouse, where you can just relax or watch TV while you talk to one of your neighbors.

Security is not a big concern if your condominium has implemented some kind of 24 hour surveillance.

On the other hand

These condominium fees are really high! The pool service at your old house cost about seventy dollars, and if you didn’t want to do your own lawn work, the landscape wouldn’t be more than a hundred dollars a month. Repairs? You mean fixing the fence every ten years? Or the pool pump? That doesn’t even come close to all these payments the condo association is bleeding you every month.

Parking is a hassle. Going through the entrance gate, park the car, take the elevator! If it was a house, you just park anywhere and you’re home.

You have 2 grown up kids and 3 cars. There is only one parking place per apartment. Guess who has a big problem?

You would like to make some minor changes in your condo and the homeowners’ association doesn’t want to hear about it. There might be an old lady who is so intrusive and mean in the board of directors

When you moved in, you didn’t know that this building was falling apart. You just got an “assessment” for “elevator repairs” which will increase your monthly payment by more than 50% the next 18 months!

Evidently, you forgot to ask some questions. Let’s see:

You had the right to go through the condo association documents. But you didn’t do your homework. You could read some of the board’s meetings minutes. You would have found out that some major repairs had been postponed for a few years.

You would have found out that the Association’s reserves hadn’t been kept at a reasonable level. Remember that, the older the building, the larger the reserve. You were so happy that the monthly maintenance fee was low. Did you suspect that they weren’t putting aside enough funds to cover the unavoidable roof repair, or the air conditioning’s old age?

Or perhaps they were not maintaining the elevators adequately? Condo owners hate to see an increase in their monthly fee. A good measure of a well managed building is that a reserve fund is maintained for every item, taking into account its remaining life expectancy. And there are well established rules about how a reserve fund must be managed. So, if you had asked to see their budget, it would have made sense.

Maybe you should have talked to some of your future neighbors and heard about their complaints. For example, you might have found out that a few owners haven’t paid their dues for a long time. And guess from which pockets the deficit is going to be covered. You would be surprised how often it happens. Any lack in the condo association funds will be covered by the rest of the homeowners.

It wouldn’t hurt to have your lawyer examine the condominium papers and bylaws, to check about any inconsistency. At the same time let him check if there is or have been a lawsuit against the association; maybe by the condo owners themselves.

Did you check if they allow pets? How many? What size?

What about their policy about renting your apartment? Many communities restrict the rental of their units. They could have screening policies for prospective tenants. They could altogether limit or prohibit renting. If renting is allowed now, things could change next year. A condo association can change its rules at any time.

In general, does this owners’ association behave in a rational and organized way? Ask around and make sure that they have usually been sound and balanced in their decisions, taken well care of the premises, and not tried to make life more difficult than it already is. There are more than a few cases when dictatorial boards became the condo owners’ nightmare.

Don’t forget to check the building insurance. See if it covers adequately whatever your own homeowner’s insurance doesn’t. Usually it should include coverage of what is outside your apartment’s walls. Check their hurricane coverage if it’s the case. Check their coverage for unexpected code non compliances that force the building into costly expenses.

I don’t mean to scare you. I have only mentioned the worse case scenarios. Condo living is usually very pleasant and there are lots of advantages in making this choice.

You just have to choose the right place.

My name is Henry B. Nathan and I am a Realtor specialized in Florida Condo I am multilingual and part of my cliente is composed by foreign nationals. Immobilier Floride is how Florida Real Estate is called in France.

About the author: Henry B. Nathan is a Real Estate Associate at International Realty Inc. Sunny Isles, Florida Email: hbnathan@bellsouth.net

Please visit my website: http://www.condo southflorida.com

Join the Bulgarian Property Boom With Confidence

Writen by Timothy Wright

An Irish property investor in Sydney, Australia has created an investment kit that provides potential buyers with all of the relevant facts, figures and information to confidently buy Bulgarian property, which grew an average of 30% in 2004. “Bulgarian Property The Overseas Buyers’ Kit” contains a complete guide to the tax and ownership laws, calculators and various information gathering templates.

During a trip to Europe at the beginning of 2005 Tim Wright, creator of the kit, found that the Bulgarian property market was a hot topic although some people showed great reluctance to invest in an unknown market place. The package was designed to answer potential investors questions and to provide the tools and peace of mind to invest in the Bulgarian market. The calculators can be used to determine potential returns once all the relevant initial and annual costs, such as State and Municipal taxes, have been deducted. “Bulgarian Property The Overseas Buyers’ Kit” is the one stop shop for foreign investors who want to buy in a high growth market and understand all of the legalities and costs upfront.

The high growth in the market is expected to continue long after Bulgaria’s anticipated membership to the European Union is granted in 2007. Entry into The Bulgarian Property market is extremely low when compared with neighbouring European countries. Some websites offer properties for as little as 4,500 Euro. But Bulgaria is now experiencing an influx of investment especially into the areas of infrastructure and tourism and property prices are rising accordingly.

With a low cost of living, fantastic snowfields and the Black Sea along the Eastern border, Bulgaria is quickly becoming the sun and ski holiday destination of choice for many Europeans. New developments are springing up especially in the coastal towns of Varna and Burgas, along with the ski towns of Borovetz, Bansko and Pamporovo. Many multinationals have also set up offices in the capital Sofia.

The Kit was created to answer the most common questions on the minds of investors concerning risk, best locations and investment rental returns. The package can be utilised by those looking to buy either a rental property or a holiday home.

The templates enable to buyer to quickly gather and organise their research on multiple towns, properties with the potential rents, expenses and ultimately the rental returns, so as to leave no stone unturned when investing in a foreign property market. The Kit also contains a checklist to guide the investor through the entire purchase process, even down to finding the correct insurance and a property manager if needed.

“Bulgarian Property The Overseas Buyers’ Kit” can assist anyone considering investing in the market and taking advantage of the current rise in property prices.

Tim Wright is an international property investor with and is author of “Bulgarian Property The Overseas Buyers’ Kit available at http://www.bulgarianpropertybuyer.co.uk

How to Sell Land for Sale

Writen by Allen Shannon

The Internet is obviously the best place for Buyers to find land to buy, but as a Seller what is the best way to sell land online? It’s like any other sales situation - get it in front of the right folks and lots of them - but make sure it counts.

The key to selling land online comes down to two easy items anyone can improve on so they can have better odds of selling their land online:

#1: Photos, Photos, and more Photos. The more - the better! What if you left out the photo of that awesome view that a buyer was looking for or the picturesque barn that could have lured in a phone call. Don’t chance it! Put as many photos as you can online with your listing. When people go to buy farms and ranches there are also emotions involved and if you can stir those up with your vivid photos you’ll be that much closer to selling your land.

#2: Descriptions - Tell me about the land for sale! No details should be left untold. It’s the same with photos meaning that what if someone is looking for land with mineral rights and you don’t even mention 100% of minerals are included? “Nice land” doesn’t provide a very exciting look into what the property includes and looks like. “Mountainous country with live creeks, views to kill for, and soils any plant would love” sparks a little more interest. Another good point with descriptions is that when it’s online search engines are going to pick it up so the more description you have, the more chances you have of someone finding your property in search engines.

There is no better application of the Internet in the real estate market than rural property. Finding a home in your city 10 minutes away is nice to do on the Internet, but when you’re looking for a farm or ranch for sale 100 to 500 miles from your home it’s much more critical to be able to pull up these properties in your office or home, find that perfect one - then go take a look.

Good luck with your land for sale.

Allen Shannon is Founder of LandsofAmerica.com which is an online marketing service for farms, ranches, and waterfront properties for sale all over the country. More information about the land for sale they market can be found by going to http://www.landsofamerica.com.

Flipping Real Estate Investors

Writen by Bill Carey

The term flipping in real estate brings up the thoughts of bad and unsavory characters out to steal houses from little old ladies and unsophisticated home owners. The truth is that the thieves and crooks should be in jail. Those of us who make it a part of our business buying and selling property should not be aligned with that same bunch.

Flipping is not a crime!

Buying and selling real estate for profit is normal business here in the U.S.A. Homeowners everyday sell property they purchased with the full and complete understanding that when they sell the property it will be worth more at the sale than it was when they purchased it because of appreciation.

Investors flip houses, commercial property, and land.

On the other hand investors don’t wait for appreciation to increase the value they will know how they are going to increase the value before buying the property. They will use their knowledge and skills to bring additional value to the property, by rezoning, subdividing, renovating, bulldozing and building new, buying low and selling high.

New investors can learn the process

Real Estate investment strategies are numerous and some are so convoluted that it would take a book to explain but in every case the same mantra holds true “know your way out, before you go in”. A very simple truth of the basic investment strategy is to know what you are going to do with the property before buying it.

Know your market, know your values

Investors must know the marketplace or have access to information that is reliable. They must know the cost or have trusted advisors who are knowledgeable about the costs of repairs, financing, fees of attorneys, engineers, architects, and be able to move fast when the opportunity presents itself.

Understand your role

Investors look for and make deals. Contractors do the construction work, attorneys do the legal work, accountants do the accounting, engineers do the engineering, and Investors do the investing. If you want to be a contractor and make a living wage please do, if you want to make the big bucks be an investor and hire good people to do the other jobs because you are too busy doing yours.

A little short of cash

In the beginning you think you can save money by doing the work your self, that’s far from the truth. The professionals do the work better and faster and cheaper than you ever could. Add it up what opportunities did you miss because you were setting tiles in a bathroom? What big new deal did you not partner on because you were too tired to open your email for three days? What big news did you miss that could have made you an extra $75,000 on an offer you just signed because you were too busy doing someone else’s job? You may be a little short of cash but that has more to do with not knowing your way out before you went in.

Bill Carey with over 30 years in real estate sales, investments, and home building offers a unique perspective to the buying and selling process of residential real estate for F*R*E*E consumer information and reports log on to http://www.CharlotteNCExecutiveHomes.com and see “Insider Real Estate Secrets Revealed” …a must read for Home Owners and Renters! It’s a F*R*E*E 12 lesson e course covering more than 20 topics exposing the realities behind buying and selling a home. It Could Make(or Save) You Thousands of Dollars

See http://www.BillCareyRealtor.com and sign up for our monthly e newsletter with tips for buyers, sellers, home owners and soon to be home owners.

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Is Egypt’s Real Estate Sector Really Worth Investing In?

Writen by Rhiannon Williamson

Oh how I love a question that’s so easy to answeris Egypt’s real estate sector really worth investing in?

Too right it is!

There are so many positive aspects of the property market in Egypt that make the entire sector an exciting place to be right now that anyone serious about venturing into an emerging overseas real estate market should be focused on Egypt for at least the medium term.

First things first let’s remove the confusion - Egypt is not a country plagued by terrorism, drought or famine - it’s a stunningly beautiful, ancient and interesting country with a coastline that is brushed and caressed by both the Mediterranean and Red seas. It is also one of the most exciting and exotic countries in closest proximity to Europe giving investors a massive potential tourist audience to target; it is also a country that can genuinely boast year round sunshine on its Red Sea Riviera which means it offers investors year round potential for profit.

If these are not reasons enough alone for a property investor to get curious about Egypt, how about the fact that Dubai based mega property developers Emaar have just committed millions of dollars to the Egyptian residential real estate market place in Cairo? Or what about the fact that the Egyptian government have slashed property related taxation costs to make the whole process of owning real estate in Egypt that much more affordable for more people?

You can add to this the fact that inward foreign direct investment into Egypt is at an all time high, the country is receiving higher annual visitor intake than ever before and the country is enjoying its best relationships with Western governments in documented history if you like.

Furthermore the amount of investment and economic confidence in Egypt is opening up a wealthy and growing middle class sector who are keen to afford property for sale and rent in Cairo and Alexandria in particular, and this gives an investor a local resale market to target in the medium term which further boosts the long term potential of an investment made into the real estate sector which is currently dominated by the tourism market.

It’s a fact that the highest rental incomes achievable for a real estate investor in Egypt right now are from tourist friendly properties along the Red Sea and Mediterranean coastlines - properties that are well located and facilitated are most in demand from the tourism market looking for short term lets. But there’s also a growing retirement market in Egypt that’s attracting great attention and giving real estate investors another potential revenue stream to explore.

Egypt really is the place to be for real estate investors looking for immediate income and medium to long term capital growth and resale potential and because the property buying process for foreigners in Egypt has become more affordable and more transparent in very recent years, the numbers of investors examining the market and exploring its possibilities is set to rise and rise.

Rhiannon Williamson writes about real estate investment in emerging markets worldwide. To read more about property investment in Egypt click here.

Right Time To Invest In Indian Real Estate

Writen by Harjeet Singh

Year 2005 brought an unexpected success for the real estate industry in India. Prices sky rocketed in multiples of last year prices. The boom maintained its pace in year 2006 and doing well. The 100% Foreign Direct Investment opened gates for foreign investors with a promise of lucrative returns. The real estate infrastructure is flourishing by continued supply of foreign exchange to the building industry investment funds. Some real estate firms like Dubai based “Emma r” were few of taking advantage of this Foreign Direct Investment (F.D.I.) relaxation.

Some reports surfaced the fact that Indian Real Estate market will be growing to a US$102 billion in the next 10 years from current US$14 billion. This growth is not unexpected given the professionalism in government policies, new favorable demographics, better financing products and increased purchasing capacity. Cities like Delhi, Mumbai, Bangalore, Pune, Hyderabad and Punjab are likely to grow 600% in terms of commercial spaces. The residential sector has enormous amount of townships on the way by big players like Uni tech, Omaxe , D.L.F. and T.D.I. with their promising projects. Some builders are even coming up with specialized and themed commercial and residential developments like home appliance malls, auto malls, food plazas and many more.

M.V.L., the real estate division of consumer electronics giant ‘Media Video Limited’, is launching a US$400 million IT Park project called ‘Softech Village’ in Gurgaon. The park ‘Softech Village’ is scheduled to be completed in 24 months. The project will offer around 400000 square feet to information technology firms seeking a foothold in India.

The A.P. State Government is now turning attention to the hardware sector. The State Government has identified 1,200 acres of land for promoting the hardware sector to woo companies, along with plans to locate few special economic zones for IT companies.

Gujrat is also not out of this boom. An Special Economical Zone will come up on 127.9 hectares on the Ahmedabad highway.Ahmedabad based real estate business major, N G Group, has proposed to build special economic zone (S.E.Z) at the cost of US$414 million for industrial machinery and ancillaries.

I.C.I.C.I Bank, India’s largest private sector bank introduced Integrated Real Estate Services through which you can capitalize on the Indian real estate boom. With their wide geographical reach, they are able to invest money across sectors and cities. Transparent and credible real estate solutions are welcoming. A vast experience and expertise, a strong network of highly qualified, committed & experienced professionals and unmatched reach in the property market make the best deals in Industry possible.

A leading financial firm “Kotak Mahindra Investments Limited” has announced that “Kotak India Real Estate Fund”, a close ended venture capital fund scheme promoted by Kotak Mahindra Realty Fund, has closed its domestic tranche raising US$100 million. In addition, the fund has received commitments of US$60 million, which is awaiting regulatory approval.

The fund, which has been organized as a scheme of “Kotak Mahindra” Realty Fund under the “S.E.B.I Venture Capital Regulations”, has “Kotak Mahindra Investments Limited”, as the investment manager.The fund would make investments at a project level with developers as well at an enterprise level in realty development companies. The fund has the mandate to make investments in retail, hotels, health care, education and other related sectors. The strategy of the fund would be to invest in the following types of opportunities: Company level investments with large development companies at a project level in various types of property development ventures, namely, mixed use schemes, hotels, residential, townships, offices, IT parks, shopping centers and the like.

Needless to say that the time is perfect to invest in the Indian real estate. The industry is looking forward for continued growth in future and who knows it may turn to be a phenomenal success in the coming years.

Author Mr. Harjeet Singh is the CEO of real estate graphic firm http://www.virses.com that provides Architectural renderings and virtual tours to real estate industry. This article can be used freely without modification and must include author information.