How To Read a Property Description

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Periodically a property owner who is just looking for information will call or write me asking a question about how to survey (or map out) their own property. A common question that comes up many times is: „How do I get my property records?“ The second question asked, usually after they have their description in hand is, „How do I read this?“

People ask these questions for many reasons. Some desire to fence or post their land, others because of pride of ownership, the desire for knowledge, or sometimes to protect themselves from the threat of encroachment. The information in this article won’t make you an overnight expert, and you will want a certified surveyor for any legal issues you may be facing, but this will help you understand your property better.

When reading your property description, you are reading about the imaginary lines that establish the „demarcation“ (boundary) between your property and your neighbors, usually referred to as the „adjoiner.“ An adjoiner may be another privately held owner or a governmental agency having a title interest such as the street in front of your property.

You will see property description in many formats. The most common are Lots, Metes, or Bounds. In some cases, the description may be a combination of the above three.

Briefly, when a larger parcel of land is divided into two or more parcels, it is called subdividing. The owner is subdividing the property into Lots. The description of each lot is usually created through a government platting procedure. This creates a process called „simultaneous conveyance“ because all parcels (lots), at the time of county recording, share equal title rights.

For example a property may be described as follows:

Lot 1, SMITH SUBDIVISION, City of Wheat Ridge, Colorado.

On the other hand, a Metes description is written „in sequence,“with the lines forming the perimeter of the property, whereas a Bounds description describes the limits of the property by calling for the „adjoiner“ description. Examples of an adjoiner would be – „Bounded on the west by County Road 119, on the east by Jones property,“ or perhaps a natural boundary such as „the Platte River.“ These two types of descriptions are considered „sequence conveyances“, in which junior and senior titles exist between adjoining lands.

In order to read your property description in the case of the Lot Description format, you would need a copy of the „Recorded„plat. If you don’t have one, you can purchase a copy at your county seat. Look for the „Clerk & Recorder’s Office„. Most subdivision plats will provide you the necessary geometry as shown next to the lines of your lot. Modern day plats require that the direction and length of the lines comprising your lot perimeter need to be on the plat map, but for some plat maps, you may not find this. If available, however, the units of measure typically are bearings and distances for each of the property lines. The bearing will signify the direction. The distance (length of the line) is generally written in units of feet, and is horizontal values. The deed for your property will identify the particular lot nomenclature, and the plat map will demonstrate the geometrical size, shape, and location along with the bearings and distances that uniquely identify your lot.

Let’s simplify the reading for you. Think of a compass. The heading of the arrow provides the direction with the numbers at the end of the arrow providing the amount of deviation from north. Bearings are purposely placed in four quadrants of the circle. The bearings on your lot will most always start with the letter N or S, signifying North or South, having numbers in between, and end with the letters E or W, signifying East or West. For example, a bearing of N 44 E means to travel along that line in the northeast quadrant of your compass on a heading of 44 degrees east of north. N 45 W means 45 degrees west of north. The beauty of a lot description is that all lines are simultaneously created.

In order to read a Metes Description, such as the example below it is important to know that the sequence cannot be read out of order. If there are bearings and distances given, then they must be read in the order as printed. Sometimes the description will start with „Beginning at.. .“ That is your starting point.

For example, you may see your description as: Beginning at a point 247 feet due east of Jacobs Fork; thence N 51 W, 210 feet; thence N 44 E, 204 feet to a Pine; thence S 48 E, 210 feet to a cement post; thence S 43 W, 204 feet to the point of beginning, containing 0.98 acres, more or less.

There may be other forms of providing the direction (bearing) of the property, such as utilizing angles departing from the previous property line. They may be recited as interior, exterior, right, left, prolongation (continuation), and many others.

In order to read a Bounds Description, the order of the lines being described is usually not of importance. If you are bounded on the north by a river, on the east by Highway 1, on the south by Jones, and on the west by Smith, the order as presented makes no difference. This type of description is usually the most costly and time consuming to define, because in order to conduct a survey properly, you, or the surveyor must research all the other adjoining properties in the bounds description.

Again, the information in this article is not to make you an expert, and before you layout the expense to put down that shed slab, or that first post hole, we highly recommend you have the property surveyed by certified professionals. However, with a little understanding, time and a decent compass, most everyone can understand the general layout of their property.

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Source by John S Lambert

Real Estate Agents – Strengths and Weaknesses in Listing Commercial Property Today

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In this commercial property market there are some real pressures and challenges that confront a lot of property owners when they want to sell or lease their property. They need the help of top agents that really understand the local area, to help in moving the property.

Contrary to popular belief, it is in markets like this that good agents can make a lot of commission. It all comes down to the way in which they package their services and help their clients.

In simple terms, top agents and experienced agents can do very well today providing they work the local area and their database. A good database will always get you through any market conditions and frustrations. In saying, that I am a big believer that a salesperson’s database should not be delegated to the office administrative staff to control.

Every salesperson should take ownership of their database; in this way they will get good activities from it. In this market you need leads that you can do something with. When a database is passed over to the administrative staff to control, the inevitable result is inaccurate and old data. The database soon becomes redundant. The salesperson doesn’t keep it up to date.

Become Change Agents

So we are the ‚agents of change‘ when it comes to helping our property clients an owners get results in this market. We should know how to attract the right people to every property listing that we take on. Exclusive listings are more important in today than ever before. Some top agents will not take on ‚open listings‘ for the very reason that they are a waste of time and effort.

When you know the drawbacks of the industry and the listings today, you can offer the clients that you serve some solid solutions. So what are the drawbacks? Here is a list of some of the bigger ones:

  1. The time that it takes to sell or lease a property can be longer today. Every client has to be conditioned for the best price or rent so the time on market is not lengthened. The first few weeks of every marketing effort are the most important. Position the property correctly to get the best enquiry in this time.
  2. High prices and high rents will achieve nothing. The price or rent for the property should be optimised for enquiry. You have to do more with less when it comes to marketing and inspecting of properties.
  3. A larger number of competing properties can frustrate your marketing efforts and time on market. Check out these properties before you do anything with your listing.
  4. Buyers and tenants are slower to enquire, inspect the property, and then make a decision. Your skills with each stage of the listing should be optimised. Hone your skills accordingly.
  5. Limited finance can put some ‚brakes‘ on the larger deals. Find out where your prospects can get finance from and what the criteria of approval may be.

Whilst these may be drawbacks in the market, they are also opportunities for agents that can get focused and organised. Every problem is an opportunity in disguise.

Are you a solution provider in this commercial real estate market? Top agents are just that. You can be too.

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Source by John Highman

For Sale By Owner Marketing Generates Mortgage Leads

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One of the best ways to generate mortgage leads is through working with home sellers

who are going it alone as For Sale By Owner or FSBO.

The key to FSBO marketing is creating partnerships with home sellers. Since almost

every buyer needs a mortgage, you provide a necessary service that will enable

a seller’s home to be sold. Real estate agents traditionally refer buyers to loan

officers during the home-selling process, but with FSBOs, there is no agent. That

means the seller assumes the role of referring buyers to loan officers and that’s

where you come in.

Most sellers are not very familiar with the process of selling real estate and won’t know that they should require interested buyers to be pre-qualified prior to accepting an offer. Helping sellers understand that you can save them oodles of time by pre-qualifying their potential buyers is a literal gold mine. You could also prepare a flyer on a variety of loan types and payments for a mortgage on that seller’s home. FSBOs want to sell their home and, therefore, they will give your business card to everyone that comes through. That means fresh mortgage leads for you, whether for this property or another one.

The most effective way to secure relationships with for-sale-by-owner sellers

is to offer more than pre-qualification services. FSBOs need marketing help like

a free ad on a for-sale-by-owner website and promotion to buyer lists. They also

need sample contracts and disclosures, industry contacts like title companies

and appraisers, yard signs, and even home flyers. These items can be bundled together

into a „for-sale-by-owner kit,“ which can be offered to sellers in exchange

for the opportunity to pre-qualify all buyers showing interest in the home.

You can use a variety of sources to locate FSBOs in your area, including:

  • Local Newspapers
  • Yard Signs
  • Paid service that scours websites and newspapers every day

Some of the popular methods of contacting FSBO sellers are:

  • Phone
  • Direct Mail
  • Door Hangers
  • Web Links

Most FSBO sellers will be very enthusiastic about the services you can offer them and will gladly refer buyers to you. Additionally, the sellers themselves will most likely need a loan to purchase their next home, and, having established a professional relationship of trust with them, you put yourself in a great position to provide that loan. That’s another mortgage lead.

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Source by Nate Garin

Marketing Plans for Commercial Real Estate Office Sales or Leasing

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When it comes to marketing commercial real estate office space for sale or lease, it is important to understand the end target market that you are trying to reach. A few key decisions about the property and the location need to be made before the marketing strategy and campaign are implemented.

Vendor Paid Advertising

At the outset it should be said that client or vendor paid advertising or marketing is the norm in commercial office property marketing and should be sought at each and every opportunity. Any vendor that chooses a real estate agent based on the offer of ‚free‘ or ‚discounted‘ marketing are doing themselves an injustice. Getting the message out to the tenants and buyers about the property first and foremost, is of prime importance. A quick sale or lease is far more important than offered savings on marketing costs.

Some experienced agents will rightfully walk away from listings where the client will not contribute to marketing; this is a good idea considering that the client is really not motivated to help themselves sell or lease the property. The client is not really genuine or has not taken the market trends into account. Wasting time on clients that are less than realistic is not good real estate business practice.

Each Property is Special

Every property owner will regard their property as special; they want their challenges resolved as quickly as possible. The only way to do this is to tap into the target market relative to the property given the current levels of enquiry currently. Today the property market is changing and shifting almost on a monthly basis. As the local real estate agent, it is important to understand those shifts and changes so that each and every property can be correctly matched to the trends in the local area.

Here are some key questions to address in the marketing campaign for the property listing.

  1. Identify exactly who the ideal purchaser or occupier is for the office property. Factors that will have impact on the decisions here will be time of promotion, indicative price or rent, and the levels of improvements.
  2. Given the ideal purchaser or tenant for the property, how large is the audience and where can they be located? How can you reach this target audience?
  3. Most buyers and tenants for any property that is taken to the market today are already located in the local area. That is why local knowledge and networking is so important in your role as a real estate agent.
  4. What message should the property and advertising promote? What facts and points of difference does the property give you to work with in the marketing?
  5. Is the property known locally, does it have a history of note, and is that good or bad? Obviously these factors may have impact on your marketing choices.
  6. What segments of the media will best connect with the target audience for the property? Think outside the box with this. Use both traditional and non-traditional methods of marketing.
  7. How will you track the marketing impact or enquiries, so you know what results are achieved? This fact is critical so you can make changes with the marketing for things that do not work.
  8. What message should go into each advertisement? Advertising content is far more important than the media that is used when it comes to generating enquiry.
  9. What advertising budget do you have to reach the target audience? If money is limited, create 3 alternative budgets for the client to choose from. They will usually choose the middle of the range.

The marketing of office space and office property is a simple process if you keep to these rules that help you build the campaign.

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Source by John Highman

How to Write a Short Story About School Life: An Example

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When you write a story about school or school life, you should think it from the end. A short story is different from a novel which sometimes finds its own way when writing it; you need a plan and a structure that is almost complete, if you want to make it a good story.

Take the example of one important action (for a short story, this is sufficient!): a boy of 12 years has been thrown out of his school. The question is, how to make an exciting and understandable story that ends with this negative event.

This is the moment to construct a flow of action leading to his exclusion. Of course, it means that you think the story from its ending, but you write it from the beginning. Use your experience and your fantasy to find reasons or motives why such a young boy might be excluded from his school.

You know some central elements and patterns that can lead to it: very bad behaviour, being often absent without any excuse, bad performance and grades, destroying something, and other grave problems. You need to look for really serious aspects, otherwise the story cannot be logical or understandable to the readers.

Imagine a class conference with all the teachers and the director where they talked only about this one boy. What did they say there? How did the teachers judge him? Were they looking for hints towards an improvement? Was it a question of sympathy? What was the form teacher’s opinion? Was there a teacher who stated that it was not right to send him home forever?

Try to search for other facts in his situation, his life. Normally, the teachers will be right when they find that the behaviour of a pupil or a student is intolerable. But the task of an author is, I believe, to look at the things behind the visible action. What are his conditions at home like? Has he got friends who play with him, help him? How do his siblings act towards him?

Maybe you can find some serious problems in the family or in his daily life beyond school. Maybe his father is an alcoholic, his mother is drug addicted – or his best friend was killed in a car crash? Maybe he is very unhappy with a problem he cannot solve on his own?

Managing this background question, an author of a short story about school can help to explain problematic behaviour and bad performance of a student, without simply putting the blame on someone. So the focus can be set on the solving of a problem – even if the story only makes the problem visible.

If these relevant aspects are part of your plan, you can write the story, no matter where you begin: with the exclusion of the boy, with the class conference or with the decisive reason of his misery. You can write a successful story now!

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Source by Henry Arnold

Sell Flower Photos – This is How to Make Money Selling Flower Photos

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I sell flower photos on a constant basis through my home, photo selling business. It’s really fun, not to have to leave home to make money from photography.

Photography has always been a hobby for mine. I have always had a special preference for taking pictures of flowers. I easily get them sold as soon as I send them to my hungry photo buyers. It all started with me taking photos of the sunflower I had in my garden.

I remember how much I loved the way the sun flower glowed under the rays of the afternoon sun. I brought out my cell phone, which had a really simple camera inbuilt, and started taking pictures of the sun flower from different angles. I ended up with some really good shots.

One of the shots I took featured an insect landing on the flower. I especially love that particular photograph because it was really unexpected. That’s one of the things I love about taking photographs out in nature. You never know what to expect. Any thing could happen and these are the things which make every photograph unique.

You too can sell flower photos to buyers of nature images. Many of the buyers I sell to, need pictures of flowers on a daily basis. It basically depends on how much time you are ready to put into this. Those images of my sun flower earned me quite a handsome amount of money.

Photographing flowers has now become something I do every week. I can even sell photos of the same flower taken hours later. This is because nature is constantly changing, and the flower you photograph today looks different the next time you visit it.

Begin your quest to sell flower photos by learning how to sell such photos to well paying buyers. Try and capture different aspects of the growing process of a flower.

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Source by Johnny Page

Advantages of an Exclusive Property Listing Agreement With Your Real Estate Agent

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Property buyers are always exposed to lesser options than the availability. This is because of the unwillingness of estate agents to share the information about different properties at their disposal with each other. This may also give problem to the seller because the property gets exposed to lesser market, and it has fewer chances of getting the highest possible price. The seller is also vulnerable to losing track of the entire procedure, something that can have serious ramifications in the future. However, there is a simple yet efficient solution to this problem. And that resides in the formulation of an exclusive listing agreement between the realtor and the seller.

How does an exclusive listing agreement weed out the flaws of the current system? And how does such an agreement facilitate all the three parties involved.

  • An exclusive listing agreement works both for the seller and the agent. The agent is assured of being financially rewarded if he sells the property for a higher price and thus is more motivated to achieve the same while the seller is most welcome to any high bids that the agent brings in.
  • By law, an exclusive listing agreement allows the agent to put up a yard sign in front of the property for sale. Historically, 60% of all buyers are attracted to properties after noticing yard signs. So when a yard sign goes up, the seller is assured of a higher market for his property which increases the chance of him getting a better deal.
  • Carrying on from the first point, if an agent is assured of his financial future with the property, he will also invest more in advertising the property which will of course attract more potential customers, driving up the demand for the said property and along with it, the price.
  • Through an exclusive listing agreement the property is provided with exposure to other agents resulting in the increase of the demand of the property and involvement of more buyers. A better selling price can be achieved by this procedure.
  • The exclusive listing agreement keeps the property seller involved throughout all of the stages of the transaction. The agent shares all information with the buyer and ensures that it goes without any hindrance.

With an exclusive listing agreement the seller and the agent merge into one team and collaborate collectively towards one single goal; exacting the maximum price of the property. For obvious reasons, such an arrangement is better than a seller working alone trying to sell his property while juggling the task with his other daily activities. Team work has always been considered more beneficial. Therefore, you are recommended to have an exclusive listing agreement with your real estate agent. This will surely make things easier for you.

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Source by Cullen Martini

The 7 Biggest Mistakes Most New Daycare Owners Make – And How to Avoid Them!

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What does it take to be successful in child care?

Obviously, you should have a deep & passionate desire to take care of children, a huge amount of patience, and the ability to juggle several tasks at once (such as warming a bottle while helping toddlers with an art project).

It also helps if you have a separate space in your home, such as a finished basement, where you can run your child care business.

But as if that isn’t enough, there are many things that a successful home daycare owner needs to be good at besides caring for children. Honestly, it can be quite daunting.

Things like getting paid on time from parents, writing solid policies & contracts, marketing your business to new potential clients, obtaining the right insurance policy, understanding record-keeping and how it affects your taxes, and overall, just getting started in a manner that will optimize success.

To help you get started more successfully, here are seven of the biggest, costliest mistakes women make when starting their own home-based child care business, and how to avoid them.

BIG MISTAKE #1: Not doing the proper research on the child care market in your town or city.

This is a crucial step that many new child care business owners miss, usually because they’re not sure how to go about it. Or they may think that it’s not really necessary to do the research, because they don’t understand how it could impact them.

After all, it’s just a small home-based business, right? Why do you need to do all that extra work up-front?

The goal here is not to spend weeks or months completing some huge market research project that you’re not ever going to use.

I’m talking about spending a few hours over the next few days, calling around (or maybe visiting some other child care businesses) and asking key questions.

Let me give you an example of what I’m talking about. My neighbor Mary, who runs a child care business in her home, discovered a couple things about our local market that helped her create a more profitable business. The first thing was, our town has ½-day Kindergarten, not full-day. By talking to other Moms in our town, Mary found there was a need in our town for „before-and-after care“, that is someone who could watch Kindergarteners & older kids before and after school. She structured her daycare to fill this need. All she had to do was make sure the buses were able to pick up & drop off these kids at her home, and she was able to start taking kids.

So what you want to uncover, when you do your upfront research, is a „pocket of unfulfilled need“ in terms of child care. You don’t need it to be a huge pocket, but something unique about your business that will bring you customers who have that need.

Other examples of this are:

– offering second or third shift care if you have large companies in your town who employ people on evening or overnight shifts

– offering bilingual care or special languages, such as sign language for babies

– offering special meals (such as organic or vegetarian) if you live in a town where that would be considered desirable (like Boulder, Colorado or a similar college town)

Again, you are asking key questions and trying to uncover an unfulfilled need in your town or city. You can begin by calling your local Child Care Resource & Referral Agency (CCR&R), your local elementary schools, talking to neighbors and friends, and visiting other child care businesses in your town. You can even call other home child care businesses and talk to these women about what they are seeing in the market. Usually, women in child care help each other out by forming friendships and partnerships, so don’t be intimidated.

By taking the time to do the research, you will gain a huge advantage by understanding your market and how you can be successful within that market.

BIG MISTAKE #2: Not getting the right liability protection for you and your business.

If you want to be able to sleep easy at night and not worry about getting sued, you’ll need to be properly covered. You need the real scoop on what type of insurance to buy, and how much it should cost, so you don’t overpay.

Many new child care business owners make the mistake of thinking that their homeowner’s policy is enough to cover them if there’s a problem. But the truth is, that policy usually doesn’t provide enough protection, nor the right kind of protection you need for special situations that a daycare owner can face.

An example of this situation would be if your house had a power outage, and you had to close temporarily due to the loss of electricity. If you had a business liability policy with coverage for „business income interruption“, you would be covered by your policy and you would still get that income.

Likewise, if you were sued by a parent for some situation, your policy would cover you in most cases.

Surprisingly, a business liability policy for a home daycare is not that expensive, and is well worth the investment (in my opinion). These type of policies usually cost $30 to $40 per month. Is that worth a good night’s sleep?

BIG MISTAKE #3: Not charging the right fees.

Do you know how to find out what other child care homes and centers are charging? Most new daycare owners literally leave money on the table by not setting their rates properly. You’ll get short-changed by charging too little, and if you charge too much, you won’t get any clients!

So how do you go about figuring out what to charge? This is a similar process as doing the upfront research in your town…it’s simply a matter of making some phone calls or visits to other child care businesses and setting you prices appropriately.

Many new family daycare owners charge the same weekly rate for each child, regardless of the child’s age. However, if you talk to centers in your town, most of them charge the highest rate for infants, and the lowest rate for older kids (pre-K and older). Many parents are used to this type of pricing structure.

So depending on the ages of kids that you can accept, if you charge a bit more for infants and young toddlers, you may find that your income will be a bit higher than a flat-rate for all ages. You’ll have to look at your individual scenario and choose what’s best for you.

For example, let’s say that according to your state, and the ages of your own children, you can accept 1 infant, 3 young toddlers (15-24 months), and 2 older toddlers (3-4 year olds). If you charge $120 per week as a flat rate, you would have a weekly income of $720.

If, however, you charged a bit more for infants ($135/week), and young toddlers ($125/week) and less for older toddlers ($115/week), your weekly income with this scenario would be $740. That amounts to an extra $80 per month, or an extra $1,040 per year.

Small adjustments like these in your price, if it makes sense based on your local area, can make a difference in your take-home profits at the end of the day.

BIG MISTAKE #4: Not covering yourself with a proper daycare policy handbook and contract.

Okay, this is a really big one. You need to have a well-written contract for your parents, and you need a comprehensive policy handbook. If you use your contract and policy handbook properly, you can literally save yourself thousands of dollars of lost income (and countless hours of headaches!).

So what’s the difference between a contract and a policy?

A contract is a binding legal agreement between two people. If you agree to care for a child and the child’s parent agrees to pay you for that care, you’ve made a verbal contract. If you put the contract in writing, it becomes a written contract.

There are 5 key elements of a child care contract: the names of the parties, the hours of operation, the termination procedure (that is, how either party may terminate the agreement), terms of payment (including rates, due dates, and extra fees), and the signatures of the parties. Be specific and clear with your wording.

A policy handbook is longer and more detailed than a contract. It should contain all the rules that state how you will care for the children, how you’ll handle specific kinds of situations, and how you run your business. For example, you should include your vacation & sick day policies, how you handle behavior issues & discipline, and how the children will be fed.

It’s a good idea to require a signature page at the end of your policy handbook, where the parent agrees that he or she has read the entire handbook and agrees to abide by the policies you’ve laid out.

You need to have both documents in writing. (If you need actual examples that you can copy & edit to fit your business, they are provided in my Daycare Success System…more about that later).

BIG MISTAKE #5: Not using the best ways to market your business to future customers.

Let’s face it, you may not be a marketing and advertising whiz, but you need easy and low-cost ways to get the word out and bring in new customers.

We’ve all heard that the best advertising is word-of-mouth. That’s after you’ve gotten started and your clients recommend you to their friends and neighbors.

But what about when you first open your doors, and you have no proven track record?

Fortunately, there are lots of ways you can get the word out about your new child care business, and most of them won’t cost you much money. Here are 4 marketing ideas to get you started.

Marketing Tip #1: Register with the Child Care Resource and Referral (CCR&R) Office in Your Area.

This is the very first thing you should do to get your name out there, and it should be done prior to opening your doors. The website is located at: www.childcareaware.org

Then enter your ZIP Code in the search field and you will receive the contact information for your nearest CCR&R office. You can also call them toll-free at (800) 424-2246.

As of December 2007, in order to be registered with most CCR&R’s, you do not need to be state-licensed or certified. However, they may have special requirements to be listed, based on your state.

For example, in Ohio, they request that solo family daycare providers have a maximum of 6 children at any time, and no more than 3 children under the age of 2. If there is more than one caregiver in the home/facility, the numbers can be higher. These rules vary by state, so be sure to call your local CCR&R branch to confirm your rules.

Once you register with your CCR&R, they will provide your contact information, along with any special information pertaining to your daycare, to parents seeking child care….for free!

Marketing Tip #2: Contact All Elementary Schools on Your Bus Line and/or in Your Community.

Most schools maintain a list of Childcare Providers, which they provide to parents upon request. Ask to have your name and phone number added to their Provider list.

Marketing Tip #3: Verbally Communicate to Everyone You Know.

Tell everyone you know that you are providing child care and ask them if they know anyone who is seeking childcare in your area. Make an announcement at your church, and at all other groups to which you belong. If you don’t belong to any community groups, join some! You’re an entrepreneur now, it’s time to start networking!

This may be your strongest source for enrolling daycare children. Most parents prefer to leave their children with a provider that was recommended by a friend, neighbor, coworker or family member.

Marketing Tip #4: Place Announcements or Small Ads in Community Newsletters.

Ask every organization you know and/or belong to such as a Church, Play Group, or Community Group, if you can place an announcement in their Newsletter.

If you know a community group, church, and/or business professional that mails out a newsletter, ask them to advertise your business for the local residents on their database. In your advertisement, focus on the unique features of your business and the benefits that children and parents will receive from being enrolled with you.

Remember, this is just the tip of the iceberg. When you learn these easy and inexpensive (or free) methods to bring in new leads, you’ll have a full and profitable daycare center and you’ll establish an ongoing relationship with your parent-clients that will have them raving about you to their friends and family!

Now let’s get back to the 7 Biggest Mistakes and how you can avoid them.

BIG MISTAKE #6: Not utilizing the tons of free resources in your local area, including sources of grant money.

Many new daycare or preschool owners don’t know about the local resources available to them, and how to navigate the waters of state, regional, and local government agencies.

With so many organizations and websites out there, it can be really tough to figure out where to go and who to ask, if you don’t know where to begin.

The best place to start is with your state. Every state in the U.S. has an agency within their state government that sets the rules for family child care providers. This agency is usually called something like the Department of Child & Family Services (DCFS), or the Department of Job & Family Services (DJFS) and they all have websites.

(If you are in Canada or another country, you probably have a similar office in your government).

Simply go to your state’s website (such as http://www.Illinois.gov) and look for the appropriate department, or type „child care“ in the search box.

The website should contain phone numbers for the Child Care contact person in your state. Call them on the phone and inquire about your state’s rules and what they recommend for people who are just getting started in family child care.

Most counties also have a child care office that helps people at the county level. Ask your state contact person how to find help for your specific county. Then, contact your county rep and ask the following questions (these are also good questions to ask your state rep):

– What do you need to know that’s specific rules or regulations for your county?

– What training are you required to take before you open your doors?

– What kind of ongoing training / learning is required?

– Do they have any recommendations on insurance providers for child care owners in your county?

– What resources do they have to help you get started?

– Do they know about any sources for grants or low-interest start-up loans?

– Are there local or county support groups that meet to discuss child care issues?

There may be other questions you’ll think of, too. Don’t be intimidated. You have the right to get the best information to get started, and you owe it to yourself to start out as successfully and as knowledgably as possible.

BIG MISTAKE #7: Not getting licensed or certified by your state.

Getting licensed or certified with your state can be a bit of work, but it’s probably easier than you think. Usually, to get licensed you are required to take a certain amount of training (often very low-cost or even free) and your home will be inspected once or twice a year by a state inspector to ensure that guidelines are being met.

There are lots of reasons why you should consider it…the top reason being that you can charge higher rates!

Here are some of the other benefits you will gain by being licensed or certified with your state:

– You will be proud to know you are providing the highest quality of care (and you can communicate this to others).

– Potential parents will be more likely to choose you, so you won’t have to spend as much on marketing and advertising

– Schools and other businesses will be more likely to recommend you.

– You may be eligible for grants or low-interest loans to expand your daycare or improve it with a new outdoor play area, etc.

– You will stand out from the crowd as a superior business.

You will have the highest chance for success if you strive to be the best at what you do.

Good luck!

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Source by Kris Murray

How to Start a Foreclosure Cleanup and Property Preservation Company

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

A new article on June 3, 2009 from MSN Money writer Michael Brush indicates that there is a third wave of foreclosures still to come from prime borrowers (i.e. those previously „safe-borrowers“ with sound credit and fixed-rate mortgages) as a result of job losses thanks to the worsening economy („Coming: A 3rd Wave of Foreclosures“).

The article states that „In the first quarter, the percentage of these borrowers who were behind on their mortgages or in foreclosure had doubled from a year earlier, to nearly 6%“ and goes on to say that „Credit Suisseanalyst Rod Dubitsky predicted last week that 8.1 million mortgages, or 16% of all mortgages, will go into foreclosure over the next four years. A weak economy, continued declines in home prices and rising delinquencies among prime borrowers all but ensure that foreclosures „will march steadily higher,“ he says.“ Not such great news for the economy, but good news indeed for entrepreneurs interested in starting a foreclosure cleanup business to clean and repair foreclosed homes for the banks.

To put this in perspective, this means that there will be over 2 million foreclosures a year and more than $2,025,000,000 up for grabs in money that will be spent on cleaning up these foreclosed properties (since the average bill is $1000+ to clean up one of these properties).

Let’s take a look at how you can position yourself to capitalize on this coming foreclosure movement

Set Up Your Company Properly

If you want to be hired for cleanup or preservation work, you’ll need to operate your business as a professional company. The good news is that you can set up a business quickly and inexpensively, and usually on your own. Many people decide to set up an LLC (Limited Liability Company) because of how quickly and easily it can be done but you’ll want to check with your accountant or other business professional to select the type of business entity that’s right for your personal situation.

If you do decide to start an LLC, you can usually find all of the documents you need online from your state’s government website. Usually the branch you’re looking for will be called the „Industrial Commission“ or „Corporation Commission“ or similar. Try typing in „start a business + ______ (your state)“. Anything ending in „.gov“ is usually a good place to start as it indicates a government site.

Once your business is set up, you’ll need an Employer Identification Number (EIN), which is like a SSN for your business. You can register for one online: type in „IRS“ & „EIN“ into a search engine to find the online registration link.

As soon as you have your EIN (which you can usually get immediately online), you can open up a business bank account for your company. This step is very, very important. In the excitement of things, many people get caught up in the day-to-day dealings of running a business and use their personal accounts to pay for business expenses. Not only does this present an accounting nightmare at the end of the year, but it could present problems for you with the IRS if you don’t keep your personal and business finances separate.

Once you legally set up your business, you may be required to register your business with your county or city in order to get a business license to operate. You can start by calling City Hall or the Office of the County Clerk to inquire as to whether or not you need a city/county/state business license and if so, how to get one.

So to recap:

1. Legally set up your business

2. Get your EIN # and set up a business bank account

3. Apply for a business license

4. If you want to do preservation work, determine whether or not you need a contractors‘ license

Get Insurance

You absolutely must have a Commercial Liability Insurance policy and Workers‘ Compensation Insurance in order to run your business. Not only is insurance essential for protecting yourself from liability and protecting those that work for you in the event of a work-related injury, but many asset management companies will not do business with you if you do not meet their minimum insurance requirements.

Insurance will likely be one of your largest start-up costs, however, most insurance companies allow you to pay the premium on a monthly (rather than yearly) basis, which definitely makes this expense more affordable.

General Liability Insurance policies can cover the following: bodily injury, property damage, contractual liability, personal and advertising injury, professional liability (also known as Errors & Omissions (E&O) insurance, this coverage protects you and your business from litigation caused by charges of professional neglect or failure to perform your professional duties), hired auto and non-auto liability and umbrella liability.

You’ll want to speak directly with your insurance agent to get a better idea of the extent of the coverage provided by their particular policy and one that is best suited for your individual needs

Workers‘ Compensation Insurance is required in most states when you have W2 employees, and some states also require your insurance to cover your 1099 contractors also. Workers‘ Compensation („Workers‘ Comp“) covers your employees‘ medical and disability expenses related to work-related illness and on-the-job injuries.

In the states where you are not required to cover your 1099 contractors you would need them to provide proof that they carry their own Workers‘ Compensation insurance. Although tempting to shift the financial burden of maintaining a policy onto your 1099 contractors, in all reality, you are probably better off to take on the cost of all staff Workers‘ Compensation (all W2 employees and 1099 contractors). The reason is that it’s difficult to find only independent contractors that have their own policy. In addition, this industry has such high turnover that if you put this restriction on your independent contractors, you’ll waste valuable time and lost revenues trying to find replacements in a hurry.

Here’s a great tip: sometimes you can get „pay-as-you-go“ insurance where your workers‘ compensation insurance premiums are based on your actual payroll, rather than an estimated amount. This is great for companies that are just starting out or have a fluctuating workload. Type in „pay as you go workers comp“ into a search engine for results in your area.

As a second tip, we’ve used Farmers Insurance for years and have always had excellent customer service and great rates. Just Google „Farmers Insurance“ for an agent in your area.

Foreclosure Cleanup v.s. Property Preservation Services

As the name suggests as a Foreclosure Cleanup Company, you’ll be cleaning out all of the junk in the house (also called a „trashout or a „junk out“), as well as cleaning the interior of the home. You may also be required to remove vehicles on the property. Usually foreclosure cleanup companies are also responsible for doing a basic landscape cleanup which includes hauling out any junk from the front/back yards, cutting the grass and trimming trees/bushes.

Cleaning up the property is the extent of services offered by a Foreclosure Cleanup Company, whereas a Property Preservation Company is also involved in the „securing“ of the property and the „preserving“ of the property.

Here are some of the services that a preservation company may offer (note that a Property Preservation Company will generally also offer cleanup services):

Securing the Property

o Initial vacant property inspection

o Lock changes

o Boarding of windows and doors

o Temporary roof repair

o Securing swimming pools

Preserving the Property

o Exterior Debris removal

o Abandoned vehicle removal (cars, boats, etc.)

o Interior Debris removal (junk-out)

o Hazardous waste removal

o Interior cleaning services including carpet cleaning

o Window washing/graffiti removal

o Window replacement

o Pool services (draining, acid washing, maintaining, etc.)

o Pest control services

o Yard maintenance/landscaping

o Snow removal

o Winterization

o Gutter cleaning

o Pressure washing

o Carpet removal & replacement

o Tile/Floor repairs

o Painting

o Sheetrock/drywall repairs

o Carpentry repairs

o Plumbing fixtures repairs & replacements

o Fire & mold remediation

o Fence repair

Here are a few things to consider when determining the extent of the services you want to offer:

A Contractors‘ License is generally not required for Foreclosure Cleanup Company but is likely required for preservation companies doing work over a certain dollar value (usually $500 – $1000+). Sometimes this license can be obtained by attending a course and successfully passing a test whereas other states require previous, verifiable industry experience.

The insurance premiums tend to be higher on companies that offer preservation services as they are considered to be a „general contractor“. However, the revenue potential is much higher as preservation services tend to run from a few thousand dollars upwards instead of $800 – $1500 for each cleanout.

Usually what people do is start out initially offering just the foreclosure cleanup services and then when things pick up, they’ll add preservation items to the list of services they offer. This let’s them get their foot in the door without having to spend a whole lot of money upfront when setting up their company.

Source the Right Equipment & Tools

The great thing about starting a foreclosure cleanup company is that the initial expenses are quite low as much of the equipment and tools needed for cleaning foreclosures can likely be found in your own garage:

o Cleaning chemicals (i.e. all purpose cleaner, disinfectant, toilet bowl cleaner, window cleaner)

o Cleaning supplies (broom, mop, scrub pads)

o Vacuum cleaner

o Garbage bags and shovels

o Work gloves and disposable plastic gloves

o Lawn mowers & lawn tools

o Wheelbarrow

For the smaller items you don’t have on hand, check your local dollar store. Their prices can’t be beat and they usually have the same chemicals and cleaning supplies as the other retailers. Once you start doing some volume, consider shopping for your supplies at Sam’s Club or Costco to keep your expenses low.

You can also find used equipment in great shape (such as vacuums) by going around to your local Saturday morning garage/yard sales. If you have a „Re-Use“ center or a Salvation Army, you may consider checking there also as they often have vacuums and other small equipment or yard tools for sale.

For hauling junk, you’ll need some sort of trailer and a vehicle large enough to pull it. If you don’t have a truck and a trailer, you can always borrow a friend’s truck and rent a trailer from U-Haul or just go ahead and rent a moving truck from U-Haul. (Remember though, that you’ll be charged a daily rate plus a per-mile rate when you rent a moving truck whereas if you use your own truck and just rent the pull-trailer, you’ll only incur the daily rental rate for the trailer.)

Sometimes you’ll be required to clean a property that doesn’t have electricity or water. In the event that there’s no electricity, you’ll need a generator to operate the vacuum cleaners and other electrical equipment. These can be rented at Lowe’s or Home Depot and is a much better alternative to purchasing one outright unless you’re going to use it on a regular basis (a new one will run you about $500+).

To save on expenses, it’s best to rent equipment in the beginning.

Once you get up and going, it may be worth looking into purchasing equipment of your own. Check the online classifieds ads (such as Craigslist, Kijiji and Backpage) for used trailers, generators, etc. You should also check with U-Haul as they have been selling some of their excess trucks as of late.

Stay Safe on the Job

As a business owner, you’re responsible for keeping your staff safe while working on the job. Working safely is paramount to the health of your staff and the reputation of your business (and also keeps your insurance premiums low). It’s imperative that you review safety issues prior to allowing anyone to work on the job – you must provide both classroom and on-the-job safety training to all new hires.

Now, it doesn’t have to be anything fancy; you can spend 20 – 30 minutes reviewing safety policies, safe working practices and answering any questions and then you’ll be done! Make sure you have people sign in and out of the meeting and that you document that a safety meeting took place.

It’s also very important that you become familiar with OSHA and Safety Standards as well as the health & safety hazards associated with this industry so that you can keep your staff safe, avoid accidents and costly fines. You can find the OSHA Pocket Guide to Construction Safety (it’s a short and an easy read) at the main website (OSHA DOT gov) by searching for the report name.

Another way to protect your staff and your business is to make sure that you check references before you hire someone. Insist that they list non-related references (i.e. not mother, sister or best friend) and instead list references of previous employers or someone they know in a professional capacity. We also do drug testing and background checks – it might sound paranoid to some, but the safety of our staff, our customers‘ property and our company’s reputation is far too important to risk not spending $20 on a background check or drug test.

Price Your Services Right

In this industry, the lowest price always wins the bid (unless, of course, the lowest bidder has a terrible track record of not completing work and is utterly irresponsible and unprofessional, in which case the company has just committed „reputation-suicide“ and will never be hired again). Lenders don’t want to spend any more than they have to on these properties so you want to make sure you price your services comparable with the going market rates (but at the same time, priced so that you still make a great profit and don’t leave any money on the table).

For cleaning out foreclosures, most banks expect to spend anywhere from $500 – $1500 for a cleanout (trashout, interior clean and initial landscape cleanup), but it could be a bit more or a bit less, depending on your area. It’s important to know that most lenders have prescribed „price caps“ for the maximum amounts that they’ll pay for services.

If you’re also providing preservation services, a great site that we’ve used before to determine our prices for doing repairs is www.CostEstimator.com for getting the market rates for construction costs – you can get a free 30 day trial (no need to enter credit card – it really is free!). There are over 3,000 cost items adjusted for over 210 local, geographic regions to create your bid and you can add as many others as needed. If you want to sign up after the trial, it’s only $15/month.

Market Your Services

It’s true – „nothing happens until somebody sells something“… and you’ll need to get out there and sell, sell, sell your business. Once you’ve done a few jobs, you’ll find that word of mouth advertising and referrals will provide a large pool of new jobs for you, but in the meantime, you do need to do everything possible to let customers know you exist.

A large portion of work will come from the relationships that you build with Real Estate Agents („Realtors“) who list bank-owned homes (often referred to as REO listings). They are often given the task of bidding out the cleaning and repairs of new listings by the asset management company so you’ll want to make sure the agents in your area know your company handles this type of work.

A great way to find out which Realtors in your area list REOs is to go online to the major bank’s REO websites and „data mine“ the contact information for the listing agents (name, email, phone numbers). It can be painstaking work, but definitely worth it.

Here’s an example of a bank REO sites to get you started collecting Realtor information

WELLS FARGO (Properties managed by Premier Asset Services): pasreo.com/pasreo/images/pas_logo.jpg

NOTE: In order to access agent information, select the state and click search. Then, individually select each listing and click on „Print Property Report CVS“. Each listing and corresponding information (such as agent name, phone # and email) will be created in an Excel spreadsheet. You can access the page

Remember to follow up with a phone call a few days later. Don’t be shy about asking the Realtor if he/she has any jobs for you to bid, either – most of them are very accommodating and willing to give a new company the opportunity to provide estimates.

The other way jobs are bid out is through large Asset Management Companies (also referred to as Marketing & Management Companies, REO Field Service Companies and Property Management Companies). Essentially, the lender says, „ok – I have thousands of properties to get rid of. Here, national ABC Asset Management Company: clean, fix and sell these properties for us“. And the national Asset Management Company will then subcontract out the work to local foreclosure cleanup and property preservation companies. In order to work for these companies, you usually need to sign up your company as a potential vendor. Many times this can be done online.

There are both positives and negatives associated with working for the larger companies. On the positive side, you will probably be given a few projects to work on at a time so you will be kept relatively busy. On the negative side, they usually want you to offer ‚wholesale pricing‘ and don’t pay until 30 – 60 days after you invoice them for the work. Working for one of these companies, however, will give you the experience you need to go after more work.

Other possible customers include wholesale property investors (groups of investors that purchase foreclosed homes at the auctions and then sell them to smaller investors at a wholesale price), investors, landlords, property management companies, Realtors and so on.

You should also consider attending your local networking events such as the Chamber of Commerce meetings and any local investor meetings in order to hand out your card and network with potential customers. The more you get out there, the better chance you’ll have of securing some great, long-term customers!

This is definitely an exciting industry and a very profitable one for those of you who don’t mind getting your hands a bit dirty! Good luck!

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Source by Les Tyler

Property Finance For Foreigners In Thailand

Immobilie bewerten, Immobilie Wert, Immobilienrechner, Verkaufsrechner, Immobilienwertermittlung Tel: 06227-399170 Handy: 0176-2116-9990 eMail: info@heidelbergerwohnen.de Internet: www.heidelbergerwohnen.de

Are foreigners allowed real estate finance in Thailand? Can foreigners in Thailand borrow money to buy a villa or condo?

Are you looking to buy a villa, condo or different property in Thailand? And are you in need of finance? Then scan this report with all you need to know concerning property finance for foreigners in the Land of Smiles.

Property financing for foreigners in Thailand is possible nowadays. But within the past foreigners typically could not acquire a mortgage from local Thai banks to finance their dream condo or beachfront pool villa since most of the money establishments in Thailand solely provided finance for property purchases to Thai nationals and Thai Corporations.

But things changed in 2005 after I saw Bangkok Bank PLC offerering loans to foreigners in their Singapore branch and once more in 2008 when I witnessed Bangkok Bank finally issued foreign loans via their Thailand primarily based branches virtually like we see it in our home countries.

Within the past mortgage lending by native banks to non-thai-nationals was just about extraordinary in Thailand, but lately I actually have seen a considerable amendment in policies to permit foreigners limited access to financing.

Initially this was launched by the Thai government’s eagerness to increase tourism and to stimulate economic development in Thailand.

When we want to purchase a property in our home country, one of the main things we consider is financing.

Whether or not you have adequate funding and liquidity to purchase, financing is largely seen as a way of smoothing our investments.

For people with less access to funding, financing is a very important vehicle they use to own that home of their dreams.

Thailand do not differ from any other country in this instance since most of the banks (but not all of them) in Thailand give loans for real estate purchases to native Thais and Thai firms primarily based on similar criteria we are used to in our home countries.

But for foreigners the similarities do finish here when buying property in Thailand!

Some Thai banks do offer mortgage services to foreigners but they impose quite strict terms and conditions for the foreigner to qualify.

One overall important condition is that the property has got to be owned in the foreigner’s own name and hence the property should be registered as a condo under the Condominium Act because foreigners are not allowed owning other sorts of properties in Thailand.

Also the buyer must pay minimum 30% down with the remainder 70% financed over 3 to 20 years, depending on the age of the borrower.

You can only borrow money in the bank if you are less than 65 years old – and the mortgage must be paid back in full when you turn 65 years old. So if you are say 55 years old today you can borrow the money for 10 years.

Bangkok Bank PLC was the first financial institution in Singapore to provide this kind of financing services to foreigners. But in 2011 I saw my first real estate client visiting the United Overseas Bank (UOB) in Singapore and they offered my client a loan so he could purchase his dream condo in Phuket.

And hey… the interest rate is not that bad: 5.25% p.a. if the loan is in USD. If in SGD the interest is 7% p.a. (Better check their website.)

It is a relatively new scheme for UOB and now they also offer this sort of finance on the Thai market with several offices located in most provinces.

At the same time also several other Thai financial institutions, including Siam Commercial Bank, Kasikorn Bank and Tisco Bank, have jumped aboard and I also recently found out that you as a foreigner also can borrow money in „The World’s Local Bank“ HSBC. This is great news for „farangs“ in Thailand, right?

I also note that HSBC offers mortgages on all sort of property in Thailand not restricted only to condominiums, but I guess that is on a case by case basis and whether or not the foreigner is married to a Thai national. In this case I can imagine that the foreigner and his Thai wife will share the loan and the property between them; the Thai wife/husband will own the land and the foreigner will own the property on the land.

I find this solution much better and safer for the foreigner than a 30 year lease agreement on the land because when it expires he will not own the property on the land anymore; this property will then be in the possession of the actual owner of the land.

Also if the Thai wife/husband dies the bank will for sure secure that the foreigner will not lose his house, since the bank want to ensure the foreigner keeps paying the monthly mortgage instalments.

I find it a really good thing that we now see some (hopefully fierce) competition in this area and in the future this will probably improve the Thailand foreigner’s position with several banks making an attempt to outdo the other parties with more competitive rates. I welcome with open arms UOB’s and HSBC’s entrance into this niche market and hopefully this is a start of a new era of financing to foreigners in Thailand.

Lending terms for foreigners in Thailand

The terms regarding loans in Thailand depend on policies of The Bank of Thailand for each fiscal year. The policies might vary from one year to another so better act quick if you won’t miss the boat! The terms also dependent largely on each bank’s own policies that similar to the Bank of Thailand vary year by year.

Banks in Thailand normally give personal loans to people and this includes VISA and Mastercard facilities, business loans, personal loans for education or medical treatment and of course the purchase of a condominium or a Mercedes Benz.

These loan facilities are also, subject to every bank’s own policy, on the market to „farangs“ who live and work in Thailand.

To qualify for these personal loans for the purchase of a condo, some conditions must be met, and it’s very important for you to notice that these loans are typically granted on the truthful market value of the condo and this is always based on the bank’s own valuation. And this often surprises the foreigners, because the bank’s valuation is often (not to say always!) lower than the market value!

Let’s see an example here:

– You want to buy as condo priced by the seller at 5 million THB.

– You know you can only borrow max. 70% of the price, so you will have to pay down 1.5 million THB and the bank will lend you 3.5 million THB plus interest.

– But now the bank value the condo at only 3.5 million THB. – So they offer you a loan of 2.45 million THB.

– That leave you with a down payment of 2.55 million THB instead of the 1.5 THB you originally were entitled to pay down.

The second vital criterion is the qualification of the foreigner. These are started below in the subsequent:

– A 1 year work permit or a Thai resident permit.

– A letter of employment attesting your years of work in Thailand and your annual salary.

– Computorized pay slips must usually be provided.

– The bank might request the employer’s company documents.

– The bank usually conducts credit checks on you.

– The your age combined with the loan period should not exceed 65 years. (If say you are 55 years old, your loan period is 10 years.)

– You must have a stable and secure job.

– You should have a monthly income three times above each monthly installment.

You must also supply the following documents to the bank upon application:

– Copies of passport and/or official ID card.

– Marriage certificate (if applicable).

– Confirmation of income and copies of bank statements.

– Copies of land or unit title deeds, sale and purchase contracts.

When applying for a loan I advise you to shop around and not accept the first offer you get, since the interest rates vary from bank to bank…so go for the best offer!

TIP:

In case you do not qualify for a mortgage right away you could use a lease structure to make your dream property more affordable. So far the lease with option to buy is the best way to go. Just note that any lease for a term of more than 3 years must be registered on the title deed at the land office. Most local Thai lawyers can handle this transaction on your behalf for a small fee. But I suggest that your Thai wife (if you have one) take care of it since it is actually not too complicated.

By leasing to buy there are some benefits:

1. You pay monthly lease of the property for say 1 year, then you purchase the property and the money you spent on the lease can now be deducted the down payment according to the contract you signed with the property owner.

2. This give you 1 year to see if this property and the location is actually right for you. If not, just walk away and lease a new home in another location.

Other Options

If you cannot get a mortgage to buy your dream property in Thailand, don’t worry. There are other available options for you.

From Developer

Direct developer financing has become more common in Thailand over the past years.

The developer deals are usually ranging from 2 to 10 years financing and are available to buyers of new Thailand villas and condominiums. These financing deals are ready straight from the developers. This means of course that the structure of each finance deal varies from one developer to the next.

So make sure you check out every option on the market before you engage in something.

Be aware of „too good to be true“ offers like „zero interest“ or „100% free finance“. Of course the purchase price under these conditions has been inflated to compensate the expense of capital to the developer.

It is always better to negotiate the most favorable purchase price than negotiate the financing deal with no concern on the actual price for the property.

Assure you know exactly what is going on at the property market and do your best to investigate the market prices for this kind of property before engaging yourself in a financing arrangement.

From Owner/Seller

Some property owners are now offering financing to buyers of Thailand villas, bungalows and condominiums as a way to sharpen interest in their Thai property. The buyer and owner/seller then sign both a purchase and a sales agreement and a promissory note.

Assure yourself that the seller is actually also the owner of this property. Ask for a copy of the title deed and check carefully at the land office with the assistance of your Thai wife or partner. The land office can also tell you if this property is actually mortgaged or not.

Most likely if the seller cannot provide you with a genuine title deed, then the property is mortgaged and the land title is kept at the bank or at the money lender as a security for the monthly payments.

In case you are engaging a real estate agent to assist you find your dream villa, then you can let them know you require financing. Most likely they will have a few listings where the sellers are offering payment terms.

If you negotiate directly with the seller, then you simply ask if they are willing to accept payment terms over a fixed period of months and rate of interest. Similar to developer financing, you must negotiate the sales price separate from the terms and conditions of the loan.

It is very important for you to note that the seller will keep the title deed (Chanote) to the property until the final payment is made.

Assure that your attorney reviews the deal and ensures that all documents are up-to-date and properly safeguarded to protect your investment.

Here you find a list of banks where you as a foreigner can get finance when buying a condo in Thailand:

1. Bangkok Bank

2. Kasikorn Bank

3. Siam Commercial bank (SCB)

4. Thai Military Bank (TMB)

5. Tisco Bank

6. HSBC – Both in Thailand and Singapore

7. United Overseas Bank (UOB) – Both in Thailand and Singapore

Best of luck to you finding and purchasing your new dream home in Thailand.

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Source by Kristian Olsen