Questions to ask when buying a House

When looking to buy a Devon property there are a few questions you should always keep in mind to make sure you end up buying the house of your dreams, rather than a home from hell.

When speaking to the seller, either directly or via a Devon estate agents there are a few questions you might need to ask:

• What exactly does the sale include - garage, size of land, fixtures and fittings etc
• How much is the current council tax bill and utility bills
• What are the neighbours like
• Has the loft been insulated
• Have there been any problems with the boiler and when was the last time it was inspected
• Does the property have cavity wall insulation
• Does the property have central heating, and if so how old is it?
• Is the property a listed building or is it in a conservation area
• Has the property been altered in anyway, and if so is it possible to see the relevant planning documents

When viewing the property there are some questions that you should be asking yourself.

• Does the property need any updating?
• What are the views like?
• Do the windows need updating, if it’s a wooden frame and you can press your fingers into them they could well be rotten
• Is there enough storage space?
• Are there enough power points?
• Are there any cracks in the walls that could be a sign of subsidence?
• Can you see any signs of damp?
• Is the pointing on the walls still intact?

If you find yourself struggling to answer any of these questions you might want to take a professional around so that they can point out any potentially problematic faults.

The biggest question you will have to ask though is one that only you can answer, does this feel like your home?

Buy a Cheap Home

Buying a property is a big step for anyone to take. A property will be the biggest purchase of your life and for low to medium earners one that can be very hard to initially buy. The hard work often pays off though as you can find yourself with a good return on investment, especially if you buy a Below Market Value Property which often come in the form of repossessed homes.

A repossessed home is becoming more and more common and whilst there are a wide variety of reasons for them to happen, one of the most common reasons is the owner struggling to pay their outgoings on a monthly basis. Once this happens more frequently, a back log occurs and they get into more trouble. Often, the only option for them is declare themselves bankrupt and it is generally at this point their house is repossessed and is put up on a Residential property auction.

Because these houses often require a quick property sale they can be available for far less than if they were valued and put on the open market which makes them a great investment for first time buyers. Of course, its not just first time buyers that like to take advantage of the investment opportunity, it is honed business men and women who see their next money making opportunity.

It is because of this that it is important that you do your research prior to attending the auction and if possible attend other auctions before the one you want to bid in so you can get a feel for how they work. If the process is all a little daunting or you find attending these live auctions problematic then there are a whole host of online property auctions these days that you can safely bid in the comfort of your own home.

Things you should know about Property Auctions

So, you’ve bitten the bullet and decided to try and buy BMV property through an auction. Hopefully you have chosen to do this having spent some considerable time researching and attending previous auctions so you have got a feel for what they are like, what the process is and how the format works.

Here are just a few reminders for you prior to your big day:

1. Before bidding takes place it is a good idea to get pre-qualified by a lender so you know that you have the financing on the spot if you are the successful bidder.
2. When the hammer goes down and the auctioneer says sold, that property is yours. There is no going back at this point so you need to have made sure you have researched the property well and are certain you want it.
3. On any given auction day it is quite possible for twenty plus properties to be up for auction and each one could take as little as an hour to be won, so you need to be on the ball and make sure you are ready for your ‘lot’. If you snooze you lose.
4. Keep to budget. One of the biggest pitfalls people face is when they get too excited and end up bidding more than they have originally allowed for the property. This can lead to all manner of problems so stay disciplined.

Of course, these days, auctions can be even easier than this. Surf online and you will come across Property for sale by auction online, which makes the whole process as easy as bidding for something on your other favourite online auction sites.

Good news for Property Investors

Property investors have had some good news recently. The abolishment of HIPS (Home Information Packs) has meant that more people have put their house on the market, due to the immensely off putting HIP charge being waivered.

A HIP became compulsory for any person wishing to sell their home if it had four or more bedrooms. The average HIP would cost anywhere in the region of £250 right up to £1000 and it is believed that this was a deciding factor for many to choose not to put their house on the market. Of course, this had a knock on effect, largely for property investors who were looking to Buy Investment Property to extend their growing property portfolio. They had fewer opportunities to invest, but also it led to people being stuck living where they didn’t want to, in a house they didn’t want to live in anymore.

The market became more and more stagnant and the HIP became an increasing bone of contention. Only three years after the government started to roll out the first stages of implementation it has fallen to its feet and thankfully been abolished. From promising to revolutionise the way properties were sold it quickly over complicated the selling process and made the whole experience far more expensive and stressful for the seller.

The availability of houses on the market are already expected to rise as a result of the abolishment of the Home Information Packs and property investors are hopeful for a more buoyant market where they can benefit from a BMW Property.

Things to Consider When Looking for a House Part 2

Last time we talked about considering the things that are important to finding an ideal home and that these things might have not have been considered. We looked at the importance finding the right location and how this is one thing that cannot be changed. This article will look at other key elements of finding and looking at any new potential home that you find to avoid any nasty surprises.

One big question on many people’s lips is ‘what potential does the house have?’ Many people are looking to develop their own house with an extension perhaps for a conservatory, porch or maybe even an additional bedroom. Look at other house in the street and see what they have done as this will give you an idea of the likelihood of getting planning permission for that extension.

You need to remember that the internal decoration of the property can be changed at any stage. Very few people move into to a new house they have just bought and keep it exactly that way that they bought it in, as people like to personalize it by putting their own stamp on it.

There are some people who really enjoy the sun, so for these people the way the house faces play a large part in what will be considered a good property or not. This is one thing that doesn’t change so it is important that this is something that is addresses right from the beginning. A rear garden that faces the right direction is for many people a deal breaker when it comes to choosing a house.

Another major consideration to a lot of people is the outside look of the property. It’s important that you like the look of the property. This is a very individual thing and what some people consider to be nice others would look to change. Many people do not really change the brick work of the building out the outside appearance except from the front garden.

If you don’t want a lot of work to do on the property a new build is probably what you want to be looking for. Yet for those of you who are looking for a bit more of a challenge and wanting to put your own stamp on it repossession is worth considering. Sometimes repossessed houses are a little worse for wear but that can be had at a bargain price.

To help eliminate additional stress of moving and starting a life else where many people have opted for a Quick Property Sale for Cash which enables them to get cracking on to the next big adventure. A Quick Property Sale can be just what you need to get you moving quickly in the right direction.

Sellers drop asking price

A smaller amount of buyers in the housing market has forced sellers to drop the prices of their homes in order to become more competitive. It seems that they days when people would battle it out to buy a house are behind us, as figures suggest a drop in prices to try and lure buyers to their property.

First signs show a drop of over 2% and almost 4% in London. Although these percentages seem small on a property of £200,000 you are looking at a large loss.

As there are even fewer buyers out in the market then it seems that they have a little more control over the property market. More choice means sellers will have to make their process competitive and appealing if they want to sell. Holding on to an unrealistic price will not only put buyers but could also mean that a property will make a much larger loss in the future of may even become repossessed.

Yet it is not only the house prices that are making buyers be more careful but also mortgages. It seems that buyers are being a lot more selective about what they opt for and are considering a much great choice of deals. With a vast amount of banks offering mortgages these too are having to become more competitive with their lending and ‘deals’ that they offer.

Even the slightest rise in interest rates could force people to sell up which would mean that the market could be saturated with houses that people just can’t afford to keep, which means even better deals for the buyers and a greater loss for people who are desperate to sell. This just re-enforces that importance of selling before the debt gets too much.

It is believed that a few of the potential house sellers are waiting for the interest rates to be announced in September, but for some this could be too late and would mean the loss of their property and any investment that they have in their property.

It still looks like sellers can be burned especially if they leave it too late or bury their heads in the sand. If you are finding yourself in a similar situation and want to get out before the going get too tough then why not look at a Quick Property Sale or the option to Sell your Property and Rent Back which would mean you wouldn’t have to leave your home.

Franchise Opportunity made easy

Most people probably think of places like Mc Donalds or Subway when they think of franchises. But there are many other types of businesses areas out there that you can take up a franchise opportunity in. Different areas will suit different people, but one of the growing areas in Franchises in the UK, is the property lettings
market.

With a property lettings franchise, you will be given an area or town exclusive from your franchiser. They key to a good franchise model is the partnership it provides. The franchiser not only gives the franchisee the basic resources but also provides knowledge from experience to help you on your journey.

A typical franchise opportunity will include the following things

• Exclusive territory
• Shop Fitting
• Staff recruitment
• Business plan/model
• Funding and help with commercial premises
• Training
• Ongoing support
  

When you take up a franchise opportunity, you will have a franchise agreement that will last a set period of time. After this runs out you will able to renew, and usually without a further franchise fee.

Franchise opportunities are a great way for someone to easily set up a successful business and lock into a network

Why not start a property franchise

While a lot of you may find the whole process of buying or renting a property complicated and expensive, and may even find yourself envious of the estate agents that are taking your money for showing you round a house. Well the old saying goes if you can’t beat them, join them. If you have some money and the desire to run your own business, then why not take up a franchise opportunity from Martin & Co and run your own property and lettings franchise. The lettings market in the UK is a very strong, dynamic and exciting area of business. Martin & co currently have 127 franchised offices in the UK and plan on reaching around 200 offices by the yea 2010.

Franchising is a great way of starting and running a business as there are so many benefits. The partnership between the franchisor and the franchisee allows knowledge, training and experience to be used to create a strong business. Plus you also benefits from the brand name being behind you. Along with this you get development of a 5 year business plan, exclusive territory, commercial premises, shop fitting, staff recruitment and training.

Buying a franchise is a great way for someone to start up their own business and be part of a huge support network. With a structured pattern of growth, most of the stress and uncertainty of starting a business is eliminated.

So if you fancy a new take on life and fancy running your own business, why not consider a franchise opportunity from Martin & Co. For more information visit there site here.