Archive for February, 2008
« Previous EntriesHousing Development Schemes for Retired Persons Part 3
Friday, February 29th, 2008Saleof housing interests in schemes not yet completed
The Housing Development Schemes for Retired Persons Act does not prohibit the sale of housing interests in schemes which have not yet been completed. In principle, therefore, housing interests can be sold ‘off the plans’. However, if a scheme is based on sectional titles and the building has [...]
Housing Development Schemes for Retired Persons Part 2
Friday, February 29th, 2008Management of retirement schemes
The management of retirement schemes based on sectional titles or share blocks is controlled by the relevant provisions of the Sectional Titles Act and the Share Blocks Control Act. Retirement schemes based on life-rights, and which fall under the provisions of the Housing Development Schemes for Retired Persons Act, are managed in [...]
Housing Development Schemes for Retired Persons Part 1
Friday, February 29th, 2008Main features of housing development schemes for retired persons
Schemes developed for retired persons normally have attractive features not found in other developments. Many have a frail care centre which caters for the medical treatment of residents, while some schemes even offer full-time nursing care and restaurant facilities. Normally, great emphasis is placed on the physical [...]
Working with a Buyer’s Agent
Tuesday, February 12th, 2008Find a real estate agent with whom you are comfortable and work with him or her in an exclusive buyer agreement. That way your agent can work in your best interests. It is far better to have a single, dedicated person working for you than a poorly-motivated group, no matter how many are in it [...]
There Is No “Right” Price
Monday, February 11th, 2008Buying and selling real estate isn’t like retail. You don’t, and you shouldn’t, walk into the real estate “store,” look down the shelves, select your product, and pay the cashier the amount on the sticker. Real estate isn’t really like buying a car either. Certainly, you negotiate with your car salesperson, but the car you [...]
Financing Options
Monday, February 11th, 2008Once the property has been inspected, a contract price is agreed upon, and your attorney has given a green light to the project, it’s time for the next step. You need to come up with the money.
If you think you can buy property with no money down, it’s time to readjust your thinking. Realistically, you [...]
Why “Fizzbo” Fizzes
Monday, February 11th, 2008Often a property owner believes he or she will make more money by eliminating the services of a real-estate professional. That’s where all of those “For Sale by Owner” signs come from. In the industry they are referred to as FSBOs (pronounced “fizzbos”). This article recommends that you always work with the best professionals in [...]
Elements of a Residential Property Contract
Sunday, February 10th, 2008A contract is an agreement among competent parties to do or to refrain from doing certain things that are under consideration between the two parties. For example, buyer Smith contracts with seller Jones to purchase his property for a specific amount of money. Jones may be required by the contract to certain specifications, such as [...]
Walk Through the House
Sunday, February 10th, 2008Check for warped doors, doors that won’t close easily or at all, loose doorknobs, creaking floors or stairs, loose tiles, poor plumbing and any resultant water damage, and too many electrical cords plugged into a single outlet. These can be clear signals of sloppy maintenance or even negligence on the part of the owner and/or [...]
A Residential Inspection
Sunday, February 10th, 2008Before you buy residential property, have it inspected by qualified people to find any defects and potential problems. But there are a number of things you, even without professional training, can do on your own.
You need to begin asking questions even before you get to the site of the property. For instance, find out the [...]
Lots of Parking Profit
Saturday, February 9th, 2008Land is defined as a portion of the earth’s surface. Undevelopedland (which may or may not have been previously developed) isknown as raw land in real estate. Most land in America has seen some development, although that development may date back centuries or more.
For example, while driving through downtown Phoenix, the observant traveler might notice [...]
Office Buildings
Saturday, February 9th, 2008Office buildings add a nice variety to any real estate portfolio. Diversity is a key to real-estate success. (There are those eggs and baskets again.) By definition, you almost always have multiple tenants in your office building. A single tenant may “anchor” your building just as a large department store might anchor a shopping centre, [...]
Conduct Background Checks
Saturday, February 9th, 2008You should take all the necessary steps to try to avoid problem ten• ants, and your best tool is a thorough background check. Don’t be hesitant or shy about this necessary task, even if a potential tenantmakes a fuss. You’re entering into a business arrangement involving cash payments in exchange for property rental and maintenance [...]
How Much of Your Land Do You Own?
Friday, February 8th, 2008What, exactly, is your land? The question is a lot more serious than you might think. “The Man Who Sold the Moon” is an old science-fiction story about an industrialist’s attempt to be the first man on the moon. It’s a fascinating tale, more about capitalism than rockets, orbits, and landings. The hero hedges all [...]
Commercial Rental Property
Friday, February 8th, 2008Look out your car window as you drive through town. Almost everyone you see owns or at least plans to own residentialproperty. But a few of those folks, a lucky few, have moved on to ownership of commercial property. This isn’t a route for everyone to follow. But for those willing to take a chance, [...]
The Realities of Rezoning
Friday, February 8th, 2008If rezoning is a consideration, remember to prepare your sales contract contingent on the property’s being rezoned. Otherwise, you could end up with a desirable piece of property, but without the right to place your establishment on it. Rezoning requires time, planning, and often a good bit of skill in the public relations arena. Altogether, [...]
What Are Your Options?
Friday, February 8th, 2008The options you will have to choose from are numerous, limited solely by your skills and aspirations. If you really desire to own and manage a particular type of property and business, then you cantruly make the experience into something special. The following sections will take a look at the most common special opportunities that [...]
Is There a Doctor in the House?
Thursday, February 7th, 2008The medical profession, especially doctors, offers your best chance of office-building tenant stability. Think about it. How often has your familyphysician, dentist, or specialist moved his office? He or she is probably still located in the same building you entered on your first visit.
Stability in good-paying tenants is one of your chief goals as a [...]
Working with Rental Agents
Thursday, February 7th, 2008Set Tough Standards
To avoid potential problems with your rental agent, you must set an operating standard. The agent must besomeone who can and will fulfill your needs as the landlord and property manger. All too often the rental agent will to some extent embellish the features of the apartment, or leave out details, such as [...]
How to Screen a Tenant
Thursday, February 7th, 2008When your rental agent does find prospective tenants who would like to move in, you need to exercise great caution in screening out the problem tenants and troublemakers from the quality tenants who pay their bills on time, follow the rules, and do not create hassles for the neighbors or the property manager. Making sure [...]
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