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Tuesday, July 3, 2007

Real Estate - Ways to Make Sure the Price Is Right

By - Kris Koonar
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Price is one of the most critical factors in the world of sales, as it can make or mar the deal between a seller and a prospective buyer. It is essential to set a genuine price for your real estate property, so that it simplifies the selling process. The price should be congruent to the present condition of the house because this is the key to sell it within a reasonable period of time. The set price should neither appear as blown up nor set too low because it will deter buyers, eventually making your house seem undesirable for purchase. It is necessary to determine probable profit while buying a property. Always try to buy low and sell at high price.

There are certain tips that will help you set the right price for your real estate property. They are as follows:

Understand the property value: It is important to research and understand the actual worth of neighborhood property. It is one of the most critical steps that often benefit you. You should visit the property you wish to purchase and compare it with other neighborhood properties. Always maintain a detailed record of neighborhood selling prices for run down and better property. You can obtain information from local real estate brokers, tax assessor office, county clerk office and real estate appraisers. The process of gathering and analyzing information is known as a comparative market analysis.

Estimate the project cost: The next most important step, after gathering information on property value is to start estimating the expense and expected profit. There are a number of costs that need to be considered, such as acquisition costs, which include the taxes, purchase price and origination fees. Try to get estimates from many lenders and compare them. Besides, it will also include repair costs, which involves everything that goes into improving the condition of the property. This is one of the main benefits of visiting the property. You tend to get a better idea about the repairs required. In addition, there are other costs like inspection fee, survey cost and title-search fee, fee for certificate of occupancy, utility costs and other unexpected repair costs.

Determine the feasibility of the project: After understanding the property values in the neighborhood, it is important to evaluate the feasibility of your project. You can begin with the current value of the unimproved property. Add the renovation project costs and estimated interest in order to get a complete project cost. Then you can add your minimum profit to the total cost. If the total cost amounts to more than what you can get from an improved home sale in that particular neighborhood, then the project is not considered feasible.

Calculate the maximum purchase price: It is advisable to figure out the maximum amount one should pay for the property. You can begin with the final selling price you can get in your neighborhood. Then deduct the renovation costs, profit margin along with selling costs and other project costs. The amount that you figure out will be the maximum amount you will be required to pay.

About The Author
Real Estate Investments are now easy with Realnet USA’s step by step Real Estate Investing process. We help you find your Real Estate Investment, to view live inventory please visit http://www.realnetusa.com/.

Monday, July 2, 2007

Finding IRS Real Estate Auctions

By - Barry Waxler
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Among the many opportunities that can be found to purchase investment Real Estate under market value, Government auctions of seized property is one of best. Finding IRS Real Estate auctions has gotten a big boost from the advent of the Internet.

When the Internal Revenue Service seizes property from a tax payer for non-payment of tax obligations, it sells this property through a public auction. The proceeds of the sale are applied to the tax debt. The Internal Revenue Service is not in the Real Estate business and they sell the property at auction using sealed bids in order to move it as quickly as possible. They are not concerned with the fair market value, but only with getting whatever they can get as quickly as they can get it.

This is bad news for the poor homeowner who has lost his property and most likely will not even have his tax debt reduced close to what it should have been. It is good news for a potential investor. The basic principle of Real Estate investing is buy low and sell high. The IRS Real Estate auction gives the investor the opportunity to do just this. The sealed bid method of sale requires some skill and a bit of luck. The bid amount must be carefully determined to attempt to be the highest without going over the good investment limit.

How do you go about finding IRS Real Estate Auctions? The internet and the personal computer have made this process fairly simple. The Government has websites that list all auctions Nationwide. These sites give a great deal of information concerning the type of property including pictures and legal descriptions. The location is given so that personal inspections of the property are possible before a bid is submitted.

The auction listing generally has a minimum bid amount. This gives you a good starting point for the establishment of your own bid amount. Any encumbrances on the property will be given as well as the methods and terms of payment. Of course, the time and date of the sale is given as well. There is also a contact person listed for further information regarding the property or the sale.

The Internal Revenue is not the only Government agency that auctions seized property. These auctions represent a good potential source of investment property as prices far below market value. The computer and the websites have made finding them extremely easy and accessible to the investor. What is required is a bit of savvy at determining the best price to bid and a bit of luck. The good thing is that there is not a lot of trouble or expense involved in the bidding process, so you have much to gain and very little to lose in the process.

About The Author
Barry Waxler provides real estate IRA solutions through UFCAmerica.com.
Article Source: http://EzineArticles.com/?expert=Barry_Waxler