Posts tagged: real estate

A funeral home is a business that offers a variety of burial and funeral services intended to help families dispose of their loved one’s remains in the manner of their choosing. There are a considerable number of goods and services offered by a funeral home, but not all will be selected by individual families. Each family is unique, each death is unique, and therefore each funeral service is unique. The type of goods and services chosen by the family will also be unique, depending on the wishes of the family and/or of the deceased. Families can customize the funeral service according to their needs, choosing from a range of services that best honor their loved one’s memory.

The death of a loved one is a difficult time for families, and many people are unsure about the process of planning a funeral. Typically, the family will work closely with a funeral director, who will ensure that their loved one’s funeral services are planned in accordance with their wishes. The funeral director can help them choose the best services to honor their loved one in the most solemn, memorable and dignified way possible. Below are just some of the many services available at most funeral homes:

Retrieval and Embalming of the Body: The funeral home is responsible for retrieving the corpse from the place of death (hospital, house, nursing home, etc.) and transporting it to the funeral home. It is in the funeral home where the body will be prepared for proper disposition. The funeral director will explain all of the available options to the family, and help them in making the right choices for their loved one, including whether there will be a viewing of the body or whether the body is to be embalmed before the burial. If the body is to be cremated, the funeral home is responsible for transporting the body to the crematorium, if they do not operate one on-site, and retrieving the remains after the procedure.

Preparation and Handling of the Body: Funeral home staff are responsible for handling the body with the utmost dignity and respect at all times while your loved one is being prepared for the funeral. This includes not only washing and embalming of the body, but also preparing the body for viewing. Funeral home staff will perform such services as dressing the body, hairdressing, putting on makeup for a life-like look, and placing the body inside the casket for viewing and burial. The family needs to be assured that the deceased person will be handled with the utmost care and respect during this process.

Processing of Paperwork: Documentation upon the death of a loved one can be overwhelming to grieving family members. Death certificates, special permits, and authorizations are just some of the paperwork that needs to be completed and filed for the deceased. The funeral director will gather information from the family to prepare the necessary paperwork, and ensure that all the paperwork is filled out and duly filed with the appropriate authorities. As many members of the family may want a copy of a death certificate, the funeral home must secure the correct number of certified copies of the death certificate to be given to the requesting parties. It is also the responsibility of the funeral home to transmit obituaries to newspapers and other news media so that relatives, colleagues, and friends of the deceased will be aware of the planned funeral service.

Funeral Planning and Concierge Services: The funeral director will help the family decide upon the details of the funeral service, and ensure that all funeral details are carried out according to the family’s wishes. This includes arrangements for the where the funeral will be held, where the memorial service will be held, and whether the body or cremated remains will be buried, scattered, or disposed of by some other method. The funeral home will also assist the family in ordering the flowers needed during the service, the casket or urn to house their loved one, and other arrangements for the funeral service. Most funeral homes also offer a car service to pick up relatives at the airport and a concierge service to make hotel and restaurant reservations for the incoming family members.

Funeral homes provide a range of services that can help a grieving family make the right choices when planning their loved one’s funeral. It is important for funeral directors and staff to offer compassionate care and understanding to the grieving family.

Representation:

In Israel, (as in many states in the United States), a real estate agent, may represent both the buyer/renter and seller/leaser. Please bear in mind that this does not free one or the other party from payment. If both sides are represented by the agent, then each side independently of the other, must pay the agent the agreed upon fee (unless of course it was stipulated and agreed upon otherwise).

When you decide to sell, purchase, rent or lease a property, we will usually ask you to sign a form, (which is a binding legal document), in regard to the specific property.

It is wise for you to read this document, which is basically used, in one configuration or another, by all licensed agents in Israel. The form clearly states the agent’s fee (in case of a deal) and stipulates that if one attempts to circumvent the agent by asking a father, mother, sister or brother to purchase the property, you are still obligated to pay the agents fee. It is also important to note that the basic agreement stipulates that once you have signed to purchase, sale, rent or lease the property, from that moment you are obligated to pay the agents fee.

It should be noted that Real Estate Brokers and Agents MUST be licensed. If you demand to see the license of a broker that is up to date (either a piece of paper or a card issued by the Real Estate office which is under the auspices of the Ministry of Justice) and the Broker cannot produce it, there is no legal binding between you and the broker – no matter how many documents you sign.

Fees:

All fees listed here are the basic fees that agents in Israel charge in regard to properties. There are certainly some cases where we will take more than 2% or less. However, these are rare and very specific cases, and usually if not stipulated otherwise you are looking at a normative fee scale, practiced by most Brokers and licensed agents in Israel.

1. Purchase or sale – 2% of the amount Plus VAT (VAT=Value Added Tax and currently it is 16.5%. This is a tax that is added by the government on to any sale of goods or services. This is NOT given to the discretion of the agent to charge or not to charge. No matter what the final price paid, the agent must pay VAT to the VAT authorities.) VAT however, is not added on to the price of the property sale, unless it is a commercial property.

2. Rental or Leasing – is usually one month of rent. Thus if you decide to rent an apartment for $1500 per month, then you will owe twelve months worth of rent to the owner for one year, and $1500 + VAT to the agent. Again VAT is not added on to the actual rental (except in commercial properties), but only to the agents fee as this is considered a “service industry”.

3. Short Term Rentals – Fees for this can vary drastically, depending upon the length of the rental and the actual rental fee. Normal policy is to take between 10-15% of the overall deal.

Can you negotiate?

Most reputable real estate agents have strict policies of non-negotiation in terms of fees. They will, of course, for returning clients, or for those who use our agency for more than one property, discuss a reduction in fees. However, please do not expect them to negotiate a fee before they have any idea about what it is you wish them to do. Also, just because you decided to take the first property you were shown, does not mean the agent should go down in his fee. Actually, in such a case, you should be more than willing to pay the agents fee, as due to their ability and knowledge, they were able to take you to exactly the place that met with your description! You took an agent to save you time and frustration, and that is exactly what they did.

Exclusivity:

If you are familiar with agents in Israel, they love the term “exclusivity”. In essence what it means, is that you contract with a specific agent for a term of 3 or 6 months to be the sole representative to either sell or lease out your property. The advantages of this type of relationship are many-fold. The agent will not hesitate to advertise the property or work together with other agents who may have clients for your property. The agency will also fully advertise the property both in print and on the Internet. In Jerusalem, the apartment will also be listed in Shiran, the multiple listing for Jerusalem properties.

So yes, exclusivity will pay off in many cases. However, and this is critical, agents cannot demand exclusivity nor try to talk you into it. It is the owner’s decision to go that route. You should want to do it if the agency is reputable in the real estate and land investment market and thus you will want to sign exclusivity with more than the agency wants you to sign it! However, not signing exclusivity also works well and most agencies maintain working relationships with many reputable agents on the market, and deal with them on a constant basis.

Real estate agents liaise between home owners and buyers to conduct the sale, purchase or rent of properties. They work for brokers and play a major role in assisting people buy or sell residential, commercial or industrial property. They keep and maintain an up-to-date account of property listing and other relevant housing information to stay abreast with properties available on the real estate market. They subscribe to several listing services to advertise and market properties up for sale. They also contact property and market properties up for sale. They also contact property owners to obtain information regarding a property.

As part of their responsibilities, estate agents present sales and purchase offers to clients for consideration. They advise them on property rates, legal requirements and general market trend. They also interview clients to determine their property preference or specification. Usually, they prepare a list of properties that best match the needs and requirements of clients. They visit and inspect properties in order to establish precise property value. They also proffer recommendations to clients on properties that best suit their budget and preference.

Most estate agents oversee the preparation of closing statements, purchase agreements, representation contracts and other necessary documents required for estate trade. They conduct negotiations between property sellers and buyers to establish price and other terms of sales. They also liaise with pest control operators, home inspectors etc. to ensure the terms and conditions stated in a purchase agreement are met prior to the closing of sales.

In fulfilling their role, real estate agents oversee the closing of property sales, they ensure payment is complete and appropriate documents signed. They maintain contact with clients to offer them real estate services/products and assist with the resolution of issues. They also provide consultation services to clients to recommend strategies for the speedy sale of property. They often conduct training programs for junior/trainee sales agents to enhance their sales skill. This job position requires at least a high school diploma, state license for practice and an aptitude for sales. Qualities needed for the job include persuasion, interpersonal skills and problem-solving skills.

Real Estate Agent Job Description Sample

Given below is a sample of the job description usually handed real estate agents by most employers:

• Act as liaisons to conduct real estate trade between property buyers and sellers
• Present sales offers to clients as well as bid on available properties
• Carry out investigations to determine client credit status and ability to complete payment
• Inspect properties to appraise its value and estimate the worth on the property market
• Interact with clients to identify their requirements and proffer recommendations on properties that best suit their budgets
• Assist home sellers in promoting their buildings on property listing services to attract clients for purchase
• Prepare and deliver sales pitches to clients in order to secure real estate contract
• Provide clients with a list of properties available for sale to assist them in making choice selection
• Conduct price negotiations between property buyers and sellers to ensure a fair bargain for both parties
• Provide clients with a tour of residential, industrial or commercial properties to showcase and explain property features
• Carry out investigations to confirm clients have clear property titles
• Provide appropriate reply to client’s enquiries concerning property appraisals, financing, maintenance etc.
• Examine property premises to recommend maintenance measure required to improve the face value
• Assist clients in evaluating mortgage options to obtain the best rate and terms
• Attend conventions, conferences and seminars to improve existing job knowledge and expand personal network.

If you are a recruiter needing the best real estate agent to hire, you can use the sample job description above in making one for your company, for use in hiring and assigning duties to the successful candidates.

Although, there are over 1.3 million, real estate agents, in the United States, only, a small – minority, of them, are responsible, for the vast majority of the transactions, which occur! Since, for most of us, the value of their house, represents, their single – biggest, financial asset, wouldn’t it make sense, to very carefully, choose the individual, to hire, to represent you, and your best – interests? How should quality agents, demonstrate, and prove, their value? Doing so, demands a variety of skills, assets, attitude, persistence, discipline, integrity, etc, and, there is no such thing, as one – size – fits – all! Before, hiring the right person, to serve and represent, one’s interests, it is essential to, clearly, prove, he is worthy of their respect, etc! With, that, in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 8 ways, quality agents consistently, prove their worth/ value!

1. Effectively listen to prospective clients: Observe, when interviewing agents to represent you, whether, the individual, effectively, listens, to you, and your personal needs, concerns, priorities, etc. How can anyone, represent your best interests, unless/ until, he commits to doing so?

2. Thoroughly, discuss, and discover, what prospective client, seeks, and needs: While some proceed, by trying to, merely, tell someone, what he believes, they want to hear, I strongly believe, in my service – mark, I’ll always tell you what you need to know, not, just, what you want to hear! It is wise, for client and agent, to know, trust, and believe, in – each other, throughout the process!

3. Discuss/ explain suggested marketing plan: What makes one’s marketing plan, different, in a meaningful way, from others? Since, one’s house, is so financially (and, other ways) relevant, it’s essential/ important, for both sides, to work together, on the same – page!

4. Explain concept/ teamwork/ strategy: Real estate agents, owe it, to their clients, to thoroughly, explain their concept, strategy, reasoning, action plans, and, the importance of well – considered, teamwork!

5. Commitment/ discipline/ efforts: Agents can’t, and should never, go – through – the – motions, and proceed, forward, with the level of consistent, true commitment, and the discipline, to maximize their efforts, for the client’s best – interests!

6. Regular updates: Communication, and providing regular reviews, and updates, must be an obligation, for agents! An essential component of representing someone, during stressful times/ periods, is holding – their – hands, throughout the entire period/ process/ transaction! From the onset, it’s important to pre – plan, for, regular, periodic updates, to thorough discuss, all relevant components, and/ or, necessary adjustments, during the period!

7. Quality negotiating: It takes quality negotiating, and an understanding of market, and economic conditions, in terms of supply – and – demand, etc, to make a significant difference, for the better!

8. Close the best deal: Meaningful representatives listen to potential deals, and help, bring them, forward, and, then, have the skills, and self – confidence, etc, to close the deal, with the best combination of minimizing the amount of time needed, enhancing the price offered, and addressing, any, and all conditions, etc.

Hire an agent, who will strive, to clearly, demonstrate, and prove his value, consistently, by a combination of skills, efforts, and a positive, can – do, attitude. Before you, buy, or sell a house/ home, doesn’t it make sense, to hire, the right agent?

The city of Long Beach, California is a very ethnically diverse area with many cultural attractions including the Long Beach Museum of Art and Long Beach Symphony Orchestra. It is the southern end of the Los Angeles Blue Line light rail, which runs to downtown Los Angeles about 20 miles away. It has a good public transportation system and access to the southern California freeways.

The Blues Festival and The Jazz Festival are just two of the many festivals held every year. California State University of Long Beach is the biggest school in the city. El Dorado Regional Park is the largest of many public parks.

Average home sale prices were about $300 thousand in June 2010, a $20,000 increase over a year earlier. Home sale volume was 391 homes sold in April and 431 sold in May 2010. Vacancies are likely to remain low in the rental market as unemployment and high house prices erode purchasing power, although these factors will also place downward pressure on rents.

Popular areas include Downtown, Belmont Heights, Eastside, Plaza, and Belmont Shore, where the average sale price is a million and a half. The population is about half a million within an area of 57 square miles. Large employers are health care, manufacturing and construction, which have been shedding jobs.

Mortgage rates are at an all time low, 3.88 for 15 year fixed and 4.38 for 30 year fixed. Foreclosure rates are high, with one in every 254 homes receiving a foreclosure notice in June 2010. Though the local real estate market shows some signs of recovery, it is still clearly a buyer’s market, for those who have the resources.

Whether buying, or selling a home, choosing the right real estate agent or buyers agent, is the most important step to take. The process of buying or selling a home is very detailed and difficult. In addition to the fact that mistakes can cost a great deal of money?

Your assets are on the line, and losing through the purchase or sale is the last thing you want to do. There are many real estate agents around. The ones that are dedicated and stay with you every step of the way, or the ones that farm out the work to other brokers.

The areas of expertise you need to look for are:

· How much education in the area of real estate does the agent have?

· How much knowledge does the agent have about the homes in the areas you are looking at?

· Do they have a wide variety of homes for sale for you to view?

The title that carries the most education and experience is a real estate broker. The real estate broker has a real estate license, training, and is recognized by the National Association of Realtors. This professional would likely be able to assist you with all of the needs you would have for buying or selling a home.

After the real estate broker is the realtor. This professional received the real estate license, and some additional training. He or she has also received recognition from the National Association of Realtors.

Finally the real estate agent is a person who has received the license, however may not have the same amount of experience as the more seasoned broker.

Most states have minimal requirements for being a real estate agent and this is the cause for some of the issues that are incurred during the transferring of ownership of a home. However keep in mind that at all levels of this expertise there are good agents, realtors and brokers. Doing a little checking can help you find the right one for you.

Most of the time a real estate agent is representing the seller of the home. If you are looking to buy a home, you are looking for a real estate buyer’s agent. This is important because you want to be represented in the best interest of your needs. Not those of the person on the other end of the deal.

When you are doing your research about the right agent for you, you will want to look for the commitment you deserve. There are many agents on the market just like there are many homes to be sold. If you do not get the attention and prompt response you deserve, go looking for someone else. They will make a profit from your purchase and they should be treating you with a reasonable amount of respect and professionalism.

The rule of thumb is that you want a real estate agent that has been around for a couple of years. With the turn around in the real estate market the way it is, this is the reason it may take you contacting a couple of agents.

You want to start your search by getting the right real estate representative for you. The home you are looking for will come along. There are bait and switch agents out there who specifically use a house within a price range and look that is appealing to the average home purchaser and then when they get the call, they may tell you it is sold, but there is another they have that you will love also. Keep this in mind so as to not get stuck by a tricky agent, instead look for the representative, agent, or broker that will show you what is available at all levels of purchasing and will keep your best interest in mind.

The previous decade saw explosive growth in the life sciences sector of commercial real estate. These are companies that are involved in medical research and new technologies development.

Some prominent examples that may come to mind are biotech firms or pharmaceutical firms.

Considerable amounts of capital have been and continue to be invested in this space, driving a surge of medical research expansion focusing on new technologies and medication involving DNA and mRNA, stem cell research, and more.

Exciting new technologies have emerged which have reignited excitement in the scientific community, such as artificial intelligence and new breakthroughs in cell and gene therapies.

The COVID-19 pandemic has brought increased attention from the general public to a sector of the economy that was undergoing a rapid expansion.

As soon as we invest in life sciences real estate, we should also remember that developing or investing in multifamily real estate in proximity to life science facilities can be highly profitable.

For instance, an area with a pharmaceutical firm’s headquarters will be able to charge higher rents than surrounding areas due to bringing higher quality tenants both directly and through tangential businesses. This is good for all businesses in the surrounding area- from grocery stores, gyms, malls, and healthcare services.

We are residential pros who target multifamily, but a number of our Class A developments are square in the”line of progress,” surrounded by life sciences infrastructure and employers.

About

Real estate aimed towards life science companies include a lab space for conducting physical experiments as well as a workplace component.

As technology has advanced, the share of your typical life science center devoted to workplace has improved.

Scientists and researchers now spend increasingly large amounts of time with highly advanced computer modeling applications for many pieces of their study that previously was unavailable.

As a consequence of these tendencies, these facilities today tend to have slightly more office space compared to laboratory space.

The talk of lab space may be shrinking as computers play a larger role in study, but it does not mean it is an afterthought into the businesses. On the contrary, the laboratory spaces in demand now are more sophisticated and cutting edge than as highly specialized areas of study are being pursued.

Like all flex real estate, life science facilities need flexibility and adaptability. As distinct research fields are pursued over time, lab space might have to be repurposed, expanded, or relocated to different regions of the facility.

Buildings that allow for this type of adaptability have been in high demand by life science companies that want to stay for years and may go through several distinct phases of research. There is no point in developing space that can’t be adapted as the company grows.

Demand has continued to outstrip supply within this sector and it’s showed no signs of slowing down any time soon. Listed below are a few reasons why you should consider adding a investment into life sciences real estate in your portfolio:

1. Funding

As the old saying goes,”follow the money.”

They provide grants to scientific research and have awarded over $100 billion these grants in the past five decades. Additionally, Cushman & Wakefield released a report a year ago that showed very good growth over the last decade, together with venture capital investments in the sector growing from $3.7 billion to $17.4 billion.

The report also found that, between 2012 to 2019, paying research and development from life science companies increased by 40%. A similar report from CBRE concurred, finding that venture capital funds flowing into the life science field are up 40 percent from where they were a decade ago.

2. Growth:

Our development firm got started in Boston, Massachusetts, which is currently rated as the number one marketplace for life sciences by several sources.

We saw up front the enormous growth of the local economy driven by the life sciences sector, which spilled out to a demand for newer, higher excellent housing, lodging, and other new industrial investments (visit our Demand Cleaners for Real Estate Explained post for more information).

This rapid expansion saw an already robust backbone of 9.6 million square feet of life sciences commercial real estate expand into 18 million square feet now, according to CoStar.

These trends are being observed throughout the nation as venture capital funds and grants embolden those businesses to seek increasingly more usable space for their research needs.

There’s also some level of delayed-onset growth occurring due to the timely nature involved in exploring and creating new technologies and treatments. Funding which has been brought in over the course of the past decade led originally to R&D that’s just now beginning to bear fruit. The push for a vaccine following the outbreak of this COVID pandemic reveal indicators of the kind of muscle these businesses have started to flex following years of continuous progress.

Another lesson that the COVID pandemic has educated the business is the demand for bringing the supply chain back home.

Overreliance on foreign links in the supply chain caused problems and created uncertainty throughout the pandemic and companies want to prevent this by onshoring, even though this incurs added costs.

This tendency will present an opportunity for the new evolution of warehouse and storage facilities for all these supply chains.

3. Vacancy Rate:

When compared with traditional office commercial real estate, lifestyle science has roughly half the vacancy rate, at 9 percent, when considering a national average. Strong markets like Boston and San Francisco saw exceptionally low rates of 4 percent and 2%, respectively, annually. It will take many years before the supply of new life science facilities can begin to keep pace with the current demand.

4. Jobs:

In a report released by Cushman & Wakefield, it was discovered that life science job growth has risen by 7.5% annually because 2013. This is an incredible increase when compared to previous twenty year period, when job growth in this sector was 1% annually. Still another indication the life sciences real estate is in a fantastic position, as employment development indicators are usually a number of the strongest clues of stable expansion.

5. New Markets:

Even though Boston, Seattle, San Diego, and San Francisco would be the superstars in the life science globe today, the business is growing rapidly and this has started to and will continue to drive growth into new markets. The major life science markets of today all have a higher cost of living which make it harder for employee and employer alike.

This really is driving a push into new markets, including Philadelphia, Maryland, and North Carolina, to mention a few. Areas with a strong backbone of research-based university(ies) and an educated population will be in a solid position to welcome new life science firms in their market.

To learn more about investing in multifamily real estate, visit our article library:

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When, someone decides, to, either buy real estate/ a house, or sell his home, he can, either, try to take care of this, himself, or hire, a quality, real estate professional, to assist him, and, hopefully, bring – about, and create the DEAL! Although, there are many advantages of hiring the right agent, for you, and your personal situation, and priorities, effectively, marketing it, and, creating, a meeting – of – the – minds, in order to bring – about the best, possible, deal, is one of the most important ones! After, over 15 years, as a Licensed Real Estate Salesperson, in the State of New York, I believe, strongly, effective representation requires the right combinations of skills, knowledge, experience, and expertise, as well as genuine empathy, and commitment! With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means and represents, and why, it matters.

1. Delve deeply; deliver; determine; dreams: Many people strongly identify, with the so – called, American Dream, of home ownership, and the greatest agents, focus on ensuring this dream, does not become a nightmare, and everything goes smoothly, and properly, throughout the transaction period! To do so, requires, a degree of customizing, rather than, pursuing, a, one – size – fits – all, approach, and, consistently, under – promising, while over – delivering! Experience, and expertise, must help, to determine, the best pricing, marketing, and approach, to create the best, possible deal!

2. Empathy; efforts; emphasis; excellence; endurance: It’s important to effectively listen, and, consistently, learn, in order to proceed, with the utmost degree of genuine empathy! He uses his efforts, to emphasize, creating a meeting – of – the – minds, pursuing professionalism, and excellence! There are usually obstacles, along this path, so one must be ready, to proceed, with patience, and endurance!

3. Attitude; aptitude; actions; attention; align: How one aligns, a positive, can – do, attitude, with a well – developed, relevant aptitude, and skill – set, often determines, whether his actions, are as beneficial, as possible! When agent and client, work together, as a team, it permits them, to pay keen attention, and provide, extraordinary service!

4. Listen; learn; leading: A quality agent effectively listens, far – more than he speaks, so he becomes capable of learning, what his client’s goals, priorities, needs, and objectives, may be! In essence, it is a professional’s duty, to be leading, and assisting his client, to achieve quality objectives, and results!

There are thousands of real estate agents, so, a wise homeowner, or buyer, will choose, someone, who understands, the needs, and creates the DEAL! Since, for most, the value of their house, represents, their single – largest asset, doesn’t it make sense?

Commercial real estate financing is currently being used for many different types of profitable business ventures: office buildings, retail outlets, apartment complexes, storage facilities, and the list continues to grow. At the present time, business loan rates are still reasonable enough to capitalize on the hospitality hotel/motel industry as well; business loans are also being used by investors to purchase storage unit facilities across the country, meaning that opportunities abound for those who are interested in making some serious money.

As the state of the economy moves well past its recovery stage, commercial real estate financing is helping new business owners get established, while the seasoned veterans are taking advantage of refinancing via expansion.

Becoming familiar with a business loan calculator can help newer company owners get a quicker handle on their finances. Office building and/or storage facility owners opting for adjustable rates will likely see their numbers fluctuate a bit more than those who’ve signed on for fixed business loan rates. Either way, having access to an online business loan calculator is a great way to keep things in check.

Quite a few commercial real estate financing recipients have invested in office buildings and/or storage facilities for a few good reasons: constant cash flow, low maintenance, and the ability to build equity for future endeavors. These types of contracts fall under the category of small business loans, yet the term small may be somewhat misleading. The idea of starting out small is a noble concept; however, semantics has little or nothing to do with actual profit margins that can allow for expansion. In such cases, construction loans are designed for growth and bigger business on the whole.

Commercial real estate financing at the onset is generally orchestrated for all types of small businesses, meaning that company owners can either maintain operations at a slower pace with steady growth or shoot for the moon when the time is right. No matter the case, small business loans can also be used in other areas, such as corner store strip malls, hotel/motel operations, or apartment building ownership.

The hospitality business can be extremely lucrative, especially when each respective facility provides prospective patrons with amenities galore. When investing in the hotel/motel forum, funding from commercial real estate financing can allow owners to create state-of-the-art facilities, which also falls in line with a number of construction loans used for renovations. The initial investment-to-turnaround timetable may depend upon the location and the climate, which is when doing some detailed research may come in handy. Densely populated areas with temperate climates are ideal for travelers both near and far, and yes, it’s true; location really does matter.

Strip malls, on the other hand, require less involvement, yet making sure that each space is occupied should be a primary concern. With this type of commercial real estate financing, the same small business loans principle applies when investing in apartment complexes. Offering incentives and low move-in specials can increase occupancy and retain tenants as well.

The above-mentioned investment opportunities are merely a drop in the bucket when compared to the thousands of business loans that have already been approved and are now operational. With business loan rates remaining relatively reasonable, staying in the black and beyond is more than just a possibility. Going a step further may also be in the cards for investors who have higher expectations. Commercial real estate financing is now available for those who qualify and who can supply the proper financial documents.

Bank owned property is a great way to buy real estate at discounted prices. Bank foreclosures consist of residential homes, commercial properties, and vacant land. Whether looking for a first home, vacation house, investment property, or business real estate, bank owned properties might be the perfect solution.

In order to purchase bank owned property, buyers must present offers through the bank’s loss mitigation division or assigned realtors. When banks control multiple foreclosures they often use local real estate agents to list and show properties, and present offers. Buyers should be aware that banks rarely deviate from the asking price unless extensive repairs are revealed during property inspections.

Banks often take a hard financial hit during the foreclosure process. The average loss per foreclosure property is estimated at $60,000. The primary goal of banks is to recoup the bulk of losses when selling repossessed properties. Buyers should plan to offer the full asking price or slightly below.

The majority of real estate foreclosures require repairs. This is particularly true of residential homes. Sadly, foreclosed homeowners often retaliate against lenders by causing property damage. It is not uncommon to find appliances removed; flooring and walls destroyed or defaced; or broken windows and plumbing fixtures.

Real estate prices are based on current market value and adjusted according to required repairs. Buyers must do due diligence by obtaining property appraisals and home inspections. Repairs discovered during home inspection that were not recorded in original documents can be used to negotiate the purchase price.  

Bank owned property is typically priced at least 10-percent below market value. However, options exist that allow buyers to obtain additional discounts. The first involves buying homes through Fannie Mae’s Home Path Mortgage program.

This government sponsored mortgage financing program offers a wide range of discounted foreclosure properties. Many of the homes for sale are located in areas witnessing a higher than average rate of foreclosure and may qualify for Neighborhood Stabilization Program grants offered through HUD.

Fannie Mae established Home Path to liquidate their nationwide inventory of bank foreclosures by offering special financing options. Home Path can be a good choice for buyers with bad credit and those who cannot afford down payment requirements associated with conventional home mortgage loans.

Home Path requires a minimum 3-percent down payment and allows borrowers to obtain down payment assistance from outside sources; which is prohibited when obtaining financing through conventional lenders. Program details and foreclosure property listings are provided at HomePath.com.

Another way to buy bank owned property at discounted rates is by seeking out real estate investors who buy bank portfolios. When investors purchase foreclosure properties in bulk they obtain wholesale pricing which leaves them room for profit while selling real estate below market value.

Last, but not least, buyers should consider looking for bank owned property that has been on the market for 60 days or longer. Banks will sometimes negotiate prices when real estate has become stagnant or when no one submits an offer.

Using grants in conjunction with Fannie Mae foreclosures or wholesale real estate can further maximize savings and return on investment. Those who take time to research options and become educated about the process can potentially save upwards of 30-percent or more.

It is best to obtain information from renowned mortgage financiers and government agencies or real estate lawyers and investors who specialize in buying and selling bank owned foreclosure properties.