Things to Remember When Aspiring to Buy a Makati House
January 3rd, 2010 by adminDue to the fact that it is the business central in the Philippines, a lot of people are attracted if not driven to have their own Makati real estate. It is found close to job opportunities and other facilities including malls and museums, which makes it a great place to stay in. Acting, however, is much harder than making the decision.
Go with the best broker to hire
The best broker does not literally point to the one with the most popularity and expensive. There are moments that these agents are actually the ones who will give you the worst selections. In locating the best broker, find the one who will listen as well as understand the things you need; the one who puts in mind of your every comment, and suggests properties derived from these observations. Even more so, try to find the one who does honest transactions with or without your presence.
Be sure of what you are looking for
In order to communicate to the real estate broker what best suits you, you must first find out if you want to just rent a Makati house or you are aiming to become a Makati real estate owner. This way your broker will have a fair idea of what to look and offer you. Also, this will be your basis for the budget you will have to allocate.
Stick to an assigned budget
Naturally, it is alright to change your mind every once in a while with regards a property. However, it isn’t advised to have the financial perspective of the transaction to suffer with your constant change of mind. When you’ve already decided a budget, stick with that. In this way, there is a guarantee that you’ll receive your money’s worth. It will also make the broker’s job easy.
Supervise yourself
Although a real estate broker is the person you can depend on, it’s still best to check the whole leasing or purchasing process yourself. This way, you are personally involved in the process and you’ll know all the details in the transaction.
Things to Know While Investing in Mexico Real Estate
December 28th, 2009 by adminIf you are a savvy investor, you will know that diversification is the way to go. Thus, instead of putting all your money in US properties, it may be a good idea to try investing in Mexican Real Estate. Why Mexico? Well, aside from the fact that market conditions in this Latin American country is entirely different from that of the US, the proximity of Mexico to the US makes checking on a property easier. Besides, there are over one million US citizens who are already permanent residents of this tropical country. Property experts believe that the real estate market in Mexico will continue to rise, as more baby boomers plan to retire in a tropical haven within the next few years. However, before you spend any money, you need to know some important tips on how to invest in Mexican real estate market.
The first thing you need to do if you plan to invest Real Estate in Mexico is to check the location of the property. If you intend to buy a vacation or retirement home in Puerto Vallarta, for example, it would be a good idea to stay in the area for a few weeks. In fact, you should also make it a point to visit the location not only during the peak season but also during the lean months. Inspecting the site will tell you if the living condition in the place you are planning to invest in is comfortable or not. Also, if the home or real estate you intend to buy is an old building, it may be a good idea to bring a third party expert so you know that you are not paying more for something that has less value.
First-time Mexico real estate investors could learn a lot from people who have already invested in the country in the past. So if you want to buy a property in this country, you should ask your friends or surf the Net for information about the problems that they faced when buying homes or other real estate properties in the country.
Lastly, you definitely need the help of an expert for Buying property in Mexico. Investing in a different country can be tricky so you need someone who has extensive experience in dealing with Mexican government agencies. However, you need to choose the person or company who will assist you because there are many unscrupulous people who prey on individuals who are new to the country and the real estate industry.
Your beachfront property in Mexico is within your reach. Check out Real Estate listings of Playa del Carmen, Puerto Vallarta and Cancun for insight into this booming market. Contact Tom Budniak for the best deals in Mexican Property.
Tom Budniak operates, owns, and manages Realty Executives Vallarta here in Mexico. Tom’s office is considered by many in the industry to be the top office in Puerto Vallarta. Tom, from Realty Executives Mexican Caribbean is a Certified Member of RMRE and MLS 4 Riviera Maya. Check out all of the resources available through Tom and Realty Executives Vallarta.
Author: Tom Budniak
5 Things in a Loan Modification Hardship Letter
October 27th, 2009 by adminA financial hardship letter explains to your creditor why you are in financial trouble and requests a specific remedy to help you through the crisis. There are different reasons for writing a hardship letter, but the most common these days are:
1. Requesting a Loan Modification or restructuring
2. Requesting a short sale to avoid foreclosure
The hardship letter is a primary requirement in the loan application process. Your loan modification attorney will ask you to submit it along with your other financial documents, so that they can evaluate your situation and present a strong case to your lender.
When writing a hardship letter for a Home loan modification, keep in mind that the lenders really want to see why you have fallen behind with your mortgage payments. It should be clear, honest, and contain just the right amount of detail. The way you write it can literally spell the difference between keeping and losing your home. Here?s how you can write a hardship letter that puts your point across and gets you the best loan modification deal.
1. Keep it concise. A typical lender can only spend five minutes reading your letter. Try to keep it to a single page; any longer and they might not have time to really read it through. Lose all unnecessary details and keep only those that are relevant to your case.
2. Get straight to the point. Start by stating the purpose of your letter (whether it?s a loan modification or a short sale), so that the reader knows outright what to expect. Basically, it should say ?I need you to buy my home/restructure my mortgage/give me a lower interest rate,? in a way that compels them to find out why. You can use the succeeding paragraphs to explain it in more detail.
3. Explain your hardship. First, make sure your problem actually qualifies as a financial hardship. Your goal is to convince your bank that you have no other means of mortgage assistance, and that you can get back on track if they do grant your request. Examples of valid hardships include:
1. Loss or reduction of income (loss of employment, demotion, etc.)
2. Natural disasters
3. Illness and medical expenses
4. Death of a family member or co-borrower
5. Divorce, separation, or other legal expenses
6. Military service
It doesn?t have to be one of these things, of course. Each lender has its own standards, and the letter?s purpose is to give them a more personal look into your situation. Once you?ve established your hardship, provide details that will help strengthen your case. Make sure to tell them how you got into the situation and why it?s out of your control.
4. Restate your request. End your letter by reiterating your purpose, in slightly different words. Ideally, your previous paragraphs should explain that it?s the only way to stop foreclosure. Make it clear that you intend to get back to your regular payments once the loan has been modified.
5. Be humble. One thing you should never do is imply that your situation is your lender?s fault. Instead of pinning the blame on anyone, simply tell things as they are and leave the judgment to your reader. Finally, thank them in advance and mention that you?re looking forward to continuing business with them.
