How To Write A Repair Request – It’s In The Details

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Disclaimer: While your Realtor may draft a repair request for you, or you may do it yourself, I strongly recommend seeking competent guidance from an attorney who specializes in real estate matters. Real estate agents cannot give legal advice unless specifically qualified to do so.

One of the major components of any quality real estate sales and purchase contract is the inspection contingencies. Once you have agreed to the basic terms and conditions with a seller, you should have allowed yourself a reasonable time period to fully inspect the property using any resource you see fit. It is very typical to find numerous items that may need attention during this period and you must decide what should be repaired and what you can deal with later.

The sales and purchase contract should have detailed instructions on how to handle any requests for repairs, and you should review these instructions with your Realtor before drafting a repair request. Failing to follow these instructions can be just a bad as failing to adequately express your expectations. Make sure you understand what you must do and what your recourse could be or you may end up purchasing a property with significant defects.

Let’s develop a scenario to use as an example of the many possible solutions to finding problems and getting them satisfactorily resolved. One situation I recently observed a friend go through with the sale of her home was the repair of a ceiling with water damage from a previous water leak. The buyers noticed the stain on the ceiling and the seller had disclosed the fact the roof had leaked and was repaired. The seller had sufficient documentation to prove this fact and provided it to the buyers.

The buyers took issue with the condition of the ceiling during the inspection phase and make a request to have the ceiling repaired. The exact wording of the repair request was „seller to repair ceiling in the living room“. This request was properly presented to the seller according to the contract and was agreed upon by both parties. At this point, all parties involved were content with the the status of the transaction.

Obviously, for this to be a good example for our discussion, something has to go wrong, right? Well, something did go wrong, and it led to some very heated arguments and accusations. The buyers‘ intentions with the repair request was to have the ceiling opened up, inspected for further water damage and mold, and then repaired and painted to match the surrounding ceiling. The seller’s intention was to replace the affected area on the ceiling with new drywall and mud, but not repaint or inspect for other damage.

Now, re-read the exact wording of the repair request. Who has the correct interpretation of the intent of the request? The seller or the buyer? In my opinion, both viewed the extremely vague wording of the request to their advantage and failed to recognize the other party’s intentions. Both could be correct, but since money and time are involved, neither side wished to give in to the other.

The seller did exactly as I stated and had the stain removed from the ceiling and did not repaint. When the buyers came through the house on their 24 hour prior to close walk-through, they saw the ceiling and immediately protested. This led to an escalating argument that culminated with a war at the closing table over the meaning of the repair request. It was ultimately determined that the seller had complied with the letter of the request and the buyers were left with no further recourse.

What can we learn from this specific transaction? I hope the first and most important thing you learn is to write extremely detailed, well though-out repair requests. My personal suggestion in this case would be to have written… „Seller to repair stain on the ceiling in the living room. Seller to have repair made by a reputable company with a successful history in this sort of repair. Seller to have the ceiling inspected for further damage caused by the previous roof leak and to inform the buyer immediately if any water damage or mold is present. Buyer shall have the right to make further requests for repairs should other damage be found. Seller to have repair completely and accurately documented and shall transfer any warranties that accompany the repair. Seller shall repaint the ceiling to match the surrounding ceiling.“

I don’t claim to have the perfect request for repairs in this situation, but I think both parties would have had a much better understanding of the intentions of the buyers and it is possible to have alleviated some of the contention at closing if wording more similar to this had been used. When you need to make a request for repairs in a real estate transaction, make sure you have considered all of the details and it is very explicitly and clearly written on paper. I would even consider consulting with a home inspector and attorney to help with the language.

I hope you find this information helpful and will be very careful when making requests for repairs in your next real estate transaction…

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Source by Joe A. Hayden

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!

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Kris Murray

The Business of Running a Bed and Breakfast

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

Running a Bed and Breakfast („B&B“) sounds great at 5pm rush hours in the streets of Manhattan during the cold of winter. The fact is it can be a real job. Let me give you a taste of what it’s like in the life of a typical B&B owner.

Imagine it is 8pm on a Friday in the middle of summer at your lovely B&B. You just finished clearing out the dining room, in which your guests recently indulged in some light fare and beverages. You’re tired. It’s been a long day. You’re about to begin to do the dishes, which will take you an hour or so, and the phone rings. It’s John Smith, a late arrival guest, who was to check-in at 9pm. He tells you he will be there no later than 10pm.

It’s now 9pm, you’ve just finished the dishes and now you are tossing the dirty towels into the laundry and gathering up new towels, to replace the old ones in the bathrooms. This takes you another hour or so. You check your watch. It’s 10PM, no John Smith. „Where could he be?“ you wonder to yourself. You check the phone for any messages, none. At 10:30pm the phone rings. It’s John Smith. He is on the Garden State Parkway at exit 117. He should be there in about ½ an hour. At 11pm John Smith finally arrives. You check him in, show him his room and at 11:20pm you rush to your bedroom to hit the sack because you promised early riser, Julie Murphy, you would have fresh coffee and a continental breakfast for her at 6am. If you’re lucky you pass out from exhaustion at 11:45pm and squeeze in just over five hours of sleep.

Welcome to the tranquil world of B&Bs. Not your typical day, but you get the idea. My point is this, managing a B&B not as easy as you would think. It can, however, be everything you thought it would be as long as your thoughts are anchored in reality.

The level of your attention to detail, along with your B&B’s location, can make your B&B a real success or a real nightmare. During your B&B’s busy season (primarily May-September in the Northeast) you are always on the go. Your hours are dictated by the hours of your guests. A late arrival can keep you up late and an early riser might require that you wake up at 5am.

Frequently Asked Questions

What constitutes a B&B? Generally speaking anything larger than 5 rooms is considered an Inn and anything less is considered a B&B.

How do you know if your B&B is successful? 100 nights, out of a year, filled to capacity, is a good year.

Can you make a living running a B&B? In most cases you will need about six rooms to make a living at it. Anything less is just supplemental income. If a host wants to make a living at a B&B they must open an Inn.

What are the biggest problems facing B&B hosts? Typically, it’s the attention to detail required of a well run B&B and last minute cancellations or guests just not showing up.

Should you list your B&B with a reservation service agency („RSA“)? If this is your first B&B and you are just starting out, the answer is a definitive yes! Here’s why. A good RSA provides a number of valuable services. First and foremost they can drive business to your B&B. Many RSAs provide brochures to state-run Welcome Centers. Some RSAs reach out to local businesses and special-events coordinators. When a potential guest takes one of those brochures and calls the RSA they will provide the prospect with B&Bs that meet their geographic and personal needs. Other advantages of joining an RSA include valuable advice about how to run the B&B. Many RSAs will usually come to your B&B to see if it has the right set up for accommodating guests.

They typically bring along a checklist and go through a type of inspection process. Soon you will find out just what strengths and weaknesses your B&B has. Oftentimes, this service is offered free of charge, as an initial consultation, The RSA will do this as a way of determining if your B&B meets their minimum standards. This inspection helps flesh out the problems inherent in your B&B. If you pass the inspection, the RSA will be interested in listing your home. Typical operational services an RSA provides, beyond those mentioned, include answering phones, e-mail/mail inquiries, screening and matching guests with hosts. They will send confirmations to guests who make reservations. Some even send out regular newsletters to hosts and help hosts with record keeping and tax preparation. All of these services, of course, come at a cost. Generally, an RSA’s commission will be between 20-25% of the rental income from the guests they book.

How much should you charge per room per night? Most B&Bs charge a minimum of $100 per night for a double occupancy room. Depending on your geographic location this amount could be significantly higher or lower.

What kind of costs/expenses can you expect to incur in your B&B? Expenses in running a B&B include food, beverage, coffee filters, soap, shampoo, facial/toilet tissue, cleaning supplies, cleaning help, laundry, new sheets, paint, repairs, linens, bedding, towels, fresh flowers, new mattresses, advertising/promotion, office supplies, dues/subscriptions, business cards, reading lamps, telephone, internet access, commission to your RSA, membership fees to local business organizations (i.e. Chamber of Commerce), insurance, utilities, accounting fees, legal fees, income tax, real estate tax and mortgage interest,.

What type of accounting or bookkeeping system is needed in a well run B&B? Accounting for a B&B does not have to be that complicated. Your options are a manual accounting system or a computer-based one. A manual accounting system could be as simple as a checkbook, accordion file and some envelopes. The accordion file should have twelve compartments for each month. Include envelopes for your main expenses in each compartment and place your expense receipts in each expense envelope. For those expenses that do not fit neatly into any one category, include a „miscellaneous“ envelope. At the end of the month tally up your expenses on a control sheet which lists the expenses on the left and a column for each month on the right. Subtract the month’s total from your receipts for the month and you will know how much money you made or how much you lost. A computer-based system should be one that is simple to use. I recommend QuickBooks as it is one of the easiest accounting software programs to learn and use on the market. A few hours with your accountant, learning QuickBooks, can save you many more hours of trial and error, not to mention frustration and stress, down the road. If you feel that you don’t have the attention to detail in keeping even a rudimentary accounting system then use your checkbook as your accounting system. Make sure every expense you incur, however, is run through your checkbook or a specific credit card is used only for business purchases, if you are not good with keeping receipts.

Should I organize my B&B as a sole proprietorship, partnership, corporation or LLC?

This is not an easy question to answer. Before we get to that answer let me touch on how the B&B should be owned. I would recommend that the B&B be owned personally. The reason is that there are tax advantages to owning the B&B personally. One major tax benefit is the personal residential exclusion of any gain of up to $500,000 ($250,000 for single taxpayers) on the personal residence portion of your B&B. Another reason is that this direct ownership better facilitates the use of a tax advantaged sale of the B&B using a like kind exchange, which allows the seller to defer taxation of any gain from the sale of the B&B, as long as like kind property (real estate) is acquired within six months from the date of the B&B’s sale. With a direct personal ownership structure you could lease the B&B to the legal entity that will be running the business. In no case would I run the B&B business as a sole proprietorship, since a sole proprietorship has unlimited liability.

My first choice would be a corporation in which an S election was made. The S corporation offers the best limited liability protection, even better than an LLC or a partnership. Here’s why. In an LLC your personal liability is limited, in the case of a lawsuit for some type of negligence, but only if you did not personally cause the negligence or injury (i.e. an employee was responsible for the negligence or injury and you did not direct that employee to perform that act). If you had something to do with the negligent act, you and all of your personal assets can be at risk. In a partnership, as a general partner, you may be held personally liable for any negligence or injury, even if caused by an employee. In a corporation, only the corporate assets are at risk. Your personal assets are safe. Personal liability at the corporate level would require „piercing the corporate veil“, something that is very hard to do given the long history of corporate case law precedence limiting this. In an S corporation, any net income or net loss and certain other tax items will flow through to your personal income tax return, as an S corporation is a pass-through entity.

Immobilienmakler Heidelberg

Makler Heidelberg


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Source by Thomas Corley

Tally Accounting Software – Best Home Accounting Software

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Tally is software which is very easy to use for small business owners as well as personal users. Usually instead of learning accountants, individuals as well as small business owners need to organize and manage their financial accounts and tax quickly and easily. For this purpose they go for simple accounting software rather than going for professional software. For small business owners or for personal users, both proprietary and free software are available online.

Home accounting software is having many features –

1. It is easy and simple to use. It is not associated with any complicated terms. Any people interested in using this software can use it from day one.

2. It is having tiny installation file even less than 1 MB. It can easily be carried in flash drive or pen drive.

3. You can protect yourself account files with a password.

4. It is also having the feature to support multiple files. Due to this feature you can keep various types of self account files which are used for different purposes.

5. For easy browsing of entered data between all listings and reports there is an inter link.

6. You can use it as your bank book, personal stock / inventory keeper or as an assets manager. It is used to maintain your day to day accounts or for your any particular financial transactions.

7. For the purpose of maintaining their accounts and detail of all the reports, it is used by doctors, small business firms, lawyers, educational institutions, engineers, professionals, salary class people, self employed people etc.

8. For starting using self accounts no prior accountancy knowledge is required.

To fulfill your needs for the purpose of accounting this software is very helpful and it does not require a lot of money to spend on it. It is very helpful in making budget of your money in order so that it may last longer.

It keeps all the records of the taxes and all the financial details. Now with the help of this software it is very easy to figure out your taxes. It is very helpful in paying off the loans or even it curtails the over expenses as it can easily figure out the available fund to be spend on each area.

Always choose the accounting software which is easy to learn so that you can make full use of it. If you don't require varieties of features then some inexpensive software are also available.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Ryan Mutt

Terminating the Co-Ownership of Hawaii Real Property

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There are times when co-owners of Hawaii real property are engaged in a dispute and no longer wish to continue co-ownership of such property, or one party is no longer making payments on the mortgage and the paying party wants to remove the non- paying party from title. The question that usually follows is what are the co-owners' options if they wish to sever such relationship.

In the event that there is no prior written agreement among the co-owners setting forth each owner's obligations and the procedures for resolving disputes, the co-owners are basically left with two options:

(1) work out some agreement to resolve the dispute or
(2) terminate the co-owner relationship through a court supervised partition action pursuant to Hawaii Revised Statutes Chapter 668 (Hawaii's Partition of Real Estate Statute).

The co-owners should first try to resolve their differences and come to some compromise. By reaching such a compromise, the co-owners would not need a Hawaii partition action which can be a very costly process. However, if seeking such an agreement proves to be a dead end, then a Hawaii partition action is necessary.

In a Hawaii partition action, one or more of the owners files a lawsuit against the remaining owner (s). The filing party is also required to join as a party every person having or claiming to have any legal or equitable right, title, or interest in the property described in the lawsuit.

Once a Hawaii partition action is filed, the court has the jurisdiction to partition the real property by (1) partition in kind or (2) partition by sale. A "partition in kind" occurs when the court physically divides the property and each owner ends up controlling an individual portion of the property. A "partition by sale" is accomplished by selling the entire property at a public auction and dividing the proceeds among the owners according to their respective interests in the property.

The courts tend to favor a partition in kind first, but if such a division is not feasible, then the court will proceed with a partition by sale. As you can see, terminating a co-ownership relationship of real property is not that simple and can be costly. Therefore, you should seek consultation with a Hawaii attorney experienced in resolving co-ownership disputes of Hawaii real property.

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Source by Nathan Natori

How To Be An Expired Listings Guru (Note: This Is 100% Legal)

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

The biggest mistake you can make in real estate sales is overlooking the ripest fruit.

Where is the ripest fruit in real estate sales?

Here is the list of the easiest targets for your quality, professional real estate brokerage services:

In order of COLD TO HOT prospects:

9. People hiding under random targets (cold calling, door knocking)

8. People you know (your "sphere") (just slightly better than random)

7. People who have listed property with a competing real estate broker

6. People who promise someone they will list their property

5. People who promise you they will list their property soon

4. People who have listed, and are currently dissatisfied with their broker

3. People who, today, will drop their current broker and might look for a new one

2. People who promised to give you the listing

And the NUMBER ONE HOT PROSPECT is sort of almost a client already:

1. People who signed a listing agreement with you that is post-dated for the day their current listing agreement expires

I am sure this list could be fortified in many ways. In some of my writings on my website I let you know about some more prospects and how to get them. But for right now I want to let you in on a little-known secret.

This secret is information that most real estate salespeople would pay a lot of money to get, and I will give it to you free here.

The way to get this information is to log into the MLS system of your choice (Rappatoni, MLX, eg) and search the database for listings which expire within two weeks. NOT EXPIRING TODAY. That is too late.

Then, contact those sellers with a very plainly stated letter which says in BOLD CAPS: this is not a solicitation to list your property during the present time, but in the future, when NO OTHER LISTING MIGHT EXIST on your property.

Include a statement a listing agreement. Why? Because your sellers may be interested in selling their property still, if their current broker does not hold up.

Make sure you POSTDATE the listing agreement and put it in the envelope.

OK, the big question is ….

… Is this ethical? Absolutely. Here is why.

From the REALTOR® Code of Ethics : Standard of Practice 16-4 : REALTORS® shall not solicit a listing which is currently listed exclusively with another broker. However, if the listing broker, when asked by the REALTOR®, refuses to disclose the expiration date and nature of such listing; ie, an exclusive right to sell, an exclusive agency, open listing, or other form of contractual agreement between the listing broker and the client, the REALTOR® may contact the owner to secure such information and may discuss the terms upon which the REALTOR® might take a future listing or, alternatively, may take a listing to become effective upon expiration of any existing exclusive listing …. – Emphasis mine

This practice is known as the Postdated Listing. It is a real contract, but its effective date is after the expiration of the current exclusive listing.

Now, there may be a problem with exclusive listings broker in this case. The broker may say, "You found my listing through the MLS and that is unethical." You tell that broker, "The unethical thing is for you to take a listing which is not selling. I am not protruding into your listing agreement. You may sign another, postdated listing or get the listing extended. I am not prohibiting you to do that. And if you have done a good job, your client will sign again. But let's let the seller decide. "

Be professional, be polite, be a business person. But be competitive. Don't sit back and wait for the expiration of the listing, or you may find that one of your competitors had the same idea but took action, and that seller will put a new sign up the very next day after the active listing expires. … And you would be too late.

Enjoy this sales tactic, and think through it properly. Also beware that you may make some enemies using this technique. But the only competitor that everyone likes is the one who lays on the ground and does nothing to challenge your business.

Immobilienmakler Heidelberg

Makler Heidelberg


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Source by Brooks Hanes

For Sale By Owner Marketing Generates Mortgage Leads

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

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.

Immobilienmakler Heidelberg

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Source by Nate Garin

Tax Lien Investing – What is a Redeemable Deed and How Does it Differ From a Tax Lien?

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

Most investors know the difference between a tax lien and tax deed. They understand that when they purchase a lien they are not buying the property, but paying the taxes on a tax delinquent property and putting a lien on the property so that if the property owner doesn’t pay the amount of the lien plus interest and penalties, in a given amount of time (the redemption period) they can foreclose on the property. And they understand that when they go to a tax deed sale and purchase a tax deed, they are actually purchasing the property. But many would be tax investors do not understand what a redeemable deed is and how it differs from a lien.

What Is a Redeemable Tax Deed?

A redeemable tax deed is something in between a lien and a deed. When you go to a redeemable tax deed sale, you are actually purchasing the deed to the property. If you are the successful bidder, you will receive a deed to the property. That deed, however, is encumbered for a period of time known as the redemption period (not to be confused with the redemption period for liens). The owner can redeem the property by paying the amount that was bid for the deed at the tax sale plus a hefty penalty. If the deed is not redeemed during the redemption period then the previous owner is barred from redeeming the property and the tax deed holder is the owner of record and the legal owner of the property.

Which is Better, Redeemable Deeds or Tax Liens?

A redeemable tax deed is very similar to tax liens, but there are some important differences that I believe make redeemable deeds a better deal for the investor. I will point out that every redeemable state treats these deeds differently. In some states, like Texas for example, when you purchase a redeemable deed you are considered the legal owner of the property and can evict anyone who may be in the property once you record the deed. The previous owner has redemption rights, but is no longer considered the rightful owner of the property. But in Georgia, which is another popular redeemable deed state, when you purchase a deed you are not the legal owner of the property until the redemption period is over and you foreclose on the property. In Georgia you must foreclose the redeemable deed much like you would a lien in order to take ownership of the property.

But in both states and in most other redeemable deed states, in order to redeem the deed, the owner must pay the investor what they bid at the tax sale plus a hefty penalty, not interest. What this means is that if you purchase a redeemable tax deed and it redeems a few days after you record the deed you still get the full penalty amount. You make the same interest on your money if it redeems in 2 weeks or 2 years. A penalty is not annualized like an interest payment would be.

What are the Drawbacks to Investing in Redeemable Deeds as Apposed to Tax Liens?

The problem with investing in redeemable deeds is that there are only 5 states that sell them and none of these states have online tax sales, so you have to show up for the auction in order to participate in the sale. The 5 states that do sell redeemable tax deeds are Connecticut, Georgia, Hawaii, Tennessee, and Texas. To find out more about Tax Lien and Tax Deed investing go to http://www.TaxLienInvestingBasics.com and get your free special report on the 7 Steps to Building Your Profitable Tax Lien Portfolio.

Immobilienmakler Heidelberg

Makler Heidelberg


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Source by Joanne Musa

House Painting Odors – Getting Rid of the Smell

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

Homeowners, especially those with small children, often ask me how to get rid of paint odors. It’s such a big concern for some folks that they’ll ask me about potential odor control before they even book the painting estimate.

The good news is that the evolution of house paint has come a long way with low-odor and even odorless lines for some applications. The bad news is there are still so many reasons to use the smelly stuff, especially if you’re repainting an older home. Alkyd (oil-based) and shellac or alcohol primers are especially effective in sealing water damage and old oil painted surfaces to upgrade them to Latex top coats. But they’re also very smelly with potentially long-lasting vapors. Even the most common low-odor alkyd paints often used today to repaint wood work can have a lingering odor for days under the most ventilated conditions.

So how do you get rid of the smell?

I’ve just received an email from a mother asking me that very question. Her young child’s room was painted almost two weeks ago and she’s left the windows open and the fan on ever since. Still, the paint smell is strong enough that she’s concerned about letting the child sleep in the room. The painting of this room involved a lot of priming to cover the dark brown oil paint used by the previous home owner. Since the color needed to be lightened up and the surfaces converted to a far more Eco-friendly Acrylic Latex, a common top brand Alkyd primer was used to give the whole room a fresh start. And although it had „Low Odor“ printed on the can, it obviously was NOT odorless. To compound matters, all the woodwork had to be finished in a leading „Low Odor“ brand of Alkyd semi gloss which produced a smooth lustrous finish as well as a migraine inducing vapor.

So what can you do? Well, there a few ways you can overcome these situations beyond obvious ventilation to control, eliminate and even prevent odors from lingering.

„An ounce of prevention“… Before there was such a thing as „low odor paint“ we used to add a splash of vanilla extract to every gallon of oil paint to make it „low-odor“. It was cheap, easy to do and had no effect on the color. Now that low-odor alkyd paints are commonplace on the market, adding about a tablespoon of vanilla extract makes them virtually odorless.

Or, as in the case above, the painting is already done. It’s too late for vanilla and the smell won’t go away as quickly they’d like. What’s happening here is that the odors are being trapped in the walls while the paint cures and probably in all the fabrics and rugs in the room as well. They need something else to absorb them for good. So, here’s what I advised her to do. Cut up a few onions and place them in a couple of bowls of cold water. Put one of the bowls in the room and the other in the closet. As simple and crazy as it sounds, the onions absorb and actually eliminate the paint fumes and odors… sometimes as quickly as overnight!

I first learned this trick while creating a baby’s room about 17 years ago. I had spent about 5 weeks converting a badly crumbling and dusty old attic room into a nursery pending the baby’s birth. And as it turned out, the baby was born about two weeks early and was ready to come home just as I was finishing the project. The job required a lot of smelly primers and sealers to bury decades of neglect and water damage. As was customary in those days, I added vanilla extract to minimize the paints‘ odor (and damage to my brain cells) but the smell wasn’t clearing up fast enough to bring the newborn in. The homeowner’s Nanny, who was moving into the bedroom next door (and who was also troubled by the smell) used a couple of bowls of cut onions in cold water over night and the smell was gone the next day. I couldn’t believe it!

I’ve recommended this technique ever since with great results. But it should be noted here that this example was in an empty room. In the case of a fully furnished room, as in our case above, you should consider airing out clothing, drapery, rugs or anything else which might be trapping the odors and give them a shot or two of Febreeze to do the trick nowadays.

Now sometimes, there are extreme cases where odors are simply not an option. Some people are highly allergic to the VOCs (volatile organic compounds) contained in paints and the tints used to color them. Some can become quite ill with even short term inhalation of the fumes. In these cases, you have to resort to the whole gamut of tricks:

  1. Before you paint, empty the room completely to make sure there is nothing that will trap the odors.
  2. Open all the windows before you open the paint cans and keep them open throughout the entire painting process.
  3. Add vanilla extract to your Alkyd, Alcohol or Shellac based paints. (Latex paints don’t usually need this step as they’re relatively low-odor to begin with).
  4. Place several bowls of onions around the room (as above) while you paint to absorb the fumes as they escape.
  5. When the painting is finished, seal and remove all paint cans, bag your drop sheets in plastic before taking them out through the rest of the house (or throw them out of the window if possible) to keep from spreading the fumes they’ve trapped indoors.
  6. Refresh your supply of onions in water as the old ones will have had their fill of vapors by the time your finished the painting.
  7. Keep the windows open and wait until the paint has fully dried and the odors have gone before you replace the furniture and other belongings.

Of course, these tips are offered in connection with interior painting but you should also try adding some vanilla to your paint when painting the exterior in Alkyd coatings as well. It saves the painter a lot headaches… literally. But whether inside or out, these simple ideas combined with some good old fashioned common sense should produce a fresh new look with clean, breathable air you can live with.

Happy painting!

Immobilienmakler Heidelberg

Makler Heidelberg


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Source by Dee L. Potter

Real Estate 401 – The Option Period

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

The following article is not intended to provide legal opinions or advice, but only to educate buyers about the real estate buying process. You should always consult a lawyer before entering into a legally binding contract.

In Texas, the Termination Option, or the option period as it is typically referred to, provides buyers with an unrestricted right to terminate a contract to purchase property, for a specified fee within a specified number of days after the contract is signed by all parties . In layman's terms, the buyer has the right to say, "No thanks, I decided I don't want to buy your house after all." Since this is an unrestricted right, there need not be a reason for terminating or cancelling the contract. The buyer does pay for this unrestricted right to terminate. Some of the more typical amounts I see are in the $ 50 – $ 75 range, but I have seen both larger and smaller amounts. The fee can be credited to the buyer or seller at closing, generally buyers are usually credited with the fee if the sale is completed but it is a negotiable item. The length of the option period, in days, is also negotiable but typical option periods are in the 5-10 day length.

Sellers are motivated to keep the option period as short as possible, since they are basically taking their home off the market and can have the contract to purchase their house terminated for no reason at all. In this case they receive only the option fee, which is a comparatively tiny amount. Buyers do occasionally use the option period as a cure for buyer's remorse – the typical second guessing that buyers have after making a big purchase of any kind, but this is unusual in my experience. The option period is designed to be used as a time for buyers to have home, pest, septic and other inspections done and then renegotiate the price or negotiate for repairs if necessary. In this regard, a 5 day period is attractive for a seller but during a busy season, it can be difficult to get all inspections done and have time to negotiate before the option expires.

When the option period expires, if the seller and buyer have not agreed on specific repairs or price reductions, the buyer is agreeing to buy the house "as is", as long as any repairs originally specified in the contract are completed prior to closing. Negotiating during the option period is done via a form called the Amendment to Contract. Repairs and price reductions are written in the proper spaces on the form and then negotiation commences per the manner described in the previous article: Real Estate 301. Often, the negotiation is done verbally between the agents and then the agreed upon terms are written in on this form and signed by both parties. Often when terms are agreed upon, the seller will ask the buyer to waive any remaining option to terminate, this is also done via the Amendment to Contract. This is to prevent the buyer from coming back asking for further repairs or reductions after an agreement has been reached.

Sellers are advised to refrain from making any repairs specified by either the original contract or the Amendment until after the option period is over. Unless of course, the seller intends to complete the repairs even if the buyer were to opt out, or terminate the contract. A seller might complete all requested repairs only to have the buyer terminate the contract afterward. This is another reason sellers often ask buyers to waive the option to terminate.

The Amendment to Contract also contains places to extend the option period if necessary to complete negotions or inspections. Once the option period is over, agents and sellers (and buyers) can breathe a big sigh of relief. It is one of the last big hurdles that must be cleared on the way to closing. There are reasons that could result in the property not closing, and plenty of things that must happen to ensure that the closing will occur but most of the uphill work is usually over after the option expires. Check back later for the next article in the series – Closing the Real Estate Transaction.

Immobilienmakler Heidelberg

Makler Heidelberg


Der Immoblienmakler für Heidelberg Mannheim und Karlsruhe
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Source by Bill Patterson