DC Fawcett Real Estate – Guidelines On Multiple Offer Situations

Introduction

Real estate market is unpredictable because a property may remain unsold for weeks or get multiple offers at the same time. The buyers are bound to extra pressure as multiple offers have both advantages and disadvantages.

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The real estate agents play a vital role in decision making while choosing between multiple offer situations as they guide the buyers to choose the right seller.

DC Fawcett reviews on multiple offer situations

  • Pre-approval and pre-qualification

The lender looks at the buyer’s financial overview and credit report. If the mortgage guidelines are satisfactory, the buyer is eligible to receive a pre-qualification letter from the lender.

Pre- approval requires much more detailing like a combination of credit report, lender information and bank statements which is a sort of mortgage commitment. Pre approval is essential and acts as a deciding factor for multiple offer situations on choosing the seller.

  • Financing

Financing are of different types which are conventional loan and FHA program offering loan scheme having strict guidelines. If the buyer has FHA loan approved, he would be obviously eligible for conventional loan. Depending on the mortgage, the seller should consider which buyer to proceed with.

  • Plans of the seller

It is must to know the future plans of the seller and it is the duty of the real estate agent to gather information whether the seller is planning to sell the property immediately or retain the ownership and give it out for rent. Then the real estate agents should make corresponding offer to the seller.

  • Deposit and down payment

If the buyer is keen on purchasing the property, he would go ahead and pay the security deposit to the seller. The amount differs from buyer to buyer and the seller now chooses the buyer who has deposited the larger amount.

Down payment will also attract the seller to choose you as he gets a perception that the buyer has saved a large amount of money for the down payment. The one who makes highest down payment will be favorable for the seller.

  • Home inspection

Decade ago, the buyer would go for home inspection only if the offer is approved and seller would show his property. Nowadays, home inspection may create an opinion in seller mind that you are keenly interested in buying and you will stand ahead of the other buyers. Do not skip home inspection as it is turning out to one of the contingency.

  • Writing notes

A piece of letter would actually have an emotional value and some sellers consider you during the “multiple offer situations”.

  •  Bidding and closing date

When you know you are competing with 10 or more buyers, stay firm with your offer and terms. Make sure your real estate agent also convey the same to the seller and enquire about the closing date from the seller.

Conclusion:

The scam  may happen via a real estate agent itself stating that someone else have won in the multiple offer situation or pretends if there are multiple offers for the same property or telling you to bid the highest so that seller may choose you.

In order to prevent such scams, DC Fawcett, the real estate professional has started a virtual real estate investing club where blogs on multiple offers situations can be read by the investors.

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DC Fawcett Reviews – Solutions to the blunders in real estate investment

Introduction

Real estate is a field where committing errors is quite common. The investors must be careful with each and every investment you make in order to prevent from making a mistake.

DC Fawcett review highlights the mistakes and provide solutions to the investors

  • Improper planning ,insufficient knowledge and impatience
  • Make a thorough study of the field by reading blogs , articles on real estate before you invest, else you are committing a big mistake.

  • Investors must plan how to make investments both short-term and long-term as well as set the priorities right. You should also have a back-up plan (Plan b) if plan A fails.

  • Impatience will not fetch you any gain, real estate investments take a long time to fetch you returns, so only being patient you can survive and master the art.

  • Decision making

Only by visiting several properties you can make out how the real estate works. Sitting at home will not fetch you profitable investments and investigate the reason that why the property is on sale.

  • Doing it alone

Take help of the reputed property management companies which can give you the best results as you can make thorough study of various properties from the renowned professionals. You can also have partnership with your buddy who might be interested in real estate.

  • Bad financing

Bad financing costs you heavy loss; it includes high interest rate, balloon payment and high monthly payment. Do not invest huge initially, gradually scale up the investment.

  • Location and Overpricing

Whether it is rental or for sale, do not overprice in order to earn more as it will only keep your property unsold. Location is the most important factor that you must keep in mind while investing as bad location will make your property stand still in the market unsold.

  • Assumptions

Assumptions will not work in real estate market; do not judge the resale value of any property just by looking at it. Underestimating repair and renovation cost is also a big blunder which will lead to financial loss and running out of cash is one of the worst thing that can happen to an investor.

  • Strategy

The investors must also decide what they are going to do with the money obtained after the property being sold. This is known as “exit strategy” which must be decided before the sale. Choose right rental strategy in order to fetch returns.

  • Risk and returns

Do not buy properties which are on risk, it will create a bad portfolio. Do not make investments keeping in mind about the average historical returns, as time varies, returns do change.

While investing, beware of scams that happen around you.

Fake property owner scam: There could be no proper landlord to a property, but real estate agents would try to sell off the property to you.

Conclusion

DC Fawcett’s virtual real estate investing club has blogs which discusses more about the mistakes that an investor commits frequently. Investors can have a look at it before making your investments

Dc Fawcett Reviews on emerging trends in commercial real estate

Introduction

Commercial real estate has a prominent significance in today’s marketing world and DC Fawcett reviews the emerging technology trends in commercial real estate (CRE).

  • Impact in CRE

The CRE professionals used Excel which contained all the database a decade now  have now transformed into automated systems consisting email ,accounting and other necessities in a sophisticated manner. These trends are used in startups and the impact is reflected on big data, smart cities and process automation. Property management companies play a vital role as everything can be tracked down by the authorities and investors can make request on purchasing a property online and they can find the ongoing net operating income. These companies manage multi storey buildings and properties

  • Market place

Market place lending has emerged more than residential real estate, as they are the main source of income for all commercial real estate ventures in different ways like crowd funding.

  • Big data analytics

Big data analytics has been a transforming force in each and every industry which has reduced man labor and has created a platform for CRE professionals to analyze the statistics in depth.

  • Alternate methods of investing

Crowd funding has emerged to be new trend in CRE. The MLS listing information available to genuine realtors has paved way for quick search of properties online.

  • Evolution of 3D

Though 3D came into existence decade ago, it is emerging as 3d models can be used by real estate professionals to show to the buyers for better visualization.

  • Post-transaction service is very essential and helpful for real estate professionals as it improves their value and building a rapport with real estate agents post transaction is beneficial.

  • Virtual reality

As we live in a fast paced world, many landlords don’t have time to show the property in person and may also consider hiring a real estate agent is costly. At that point of time, virtual tour helps where you can show the properties online to the buyers who are interested in the property. This will save time as well as helps in eliminating the properties easily when you have multiple properties to look through.

  • IOT has helped the retailers to monitor real-time activities; this will help the investors to make his movie accordingly while making an investment. With the help of internet we are able to achieve everything mobile.

  • Artificial intelligence (AI) has helped the CRE professionals in structuring data and information of non closure, lease and other legal agreements.

It is important to cut an edge among other investors through different emerging ways of investing to stay in the race as well as earn quickly.

  • Commercial real estate scam happens mostly in form of misappropriation of funds means that when a person uses the money he obtained from loan to an unapproved project.

  • Advance fee scam is very common when a con artist approach you when you are struggling to finish the legal procedures of a new property, he gets so called “advance fees” from you stating he will assist you in completing the legal work, but he won’t.

Conclusion

DC Fawcett virtual real estate investing club blog will help the investors to know more about the emerging trends in commercial real estate and how to prevent from scams.

DC Fawcett Beginner’s Guide – How To Buy Real Estate Properties

Rental properties- a beginner’s guide

When it comes to real estate, DC Fawcett says that the main objective of almost all realtors, investors is to put money to work today and see it grow in the future without much effort.
The ROI must be an adequate amount and it should be enough to cover:
  • Risks that you take
  • Taxes that you pay and
  • The cost of owning the investment property together with additional expenses like utilities, regular maintenance, and insurance.

How to buy rental properties- a beginner's guide

Abstractly, real estate investing really can be as simple as a walk in the park, if you are making some efforts to understand the most underlying factors of the investment, economics, and risk. With that said, you should know that it is simple but not easy. If you are lethargic, then based on the mistakes that you commit, the penalties may show a discrepancy from negligible hassles to major disasters. But at the same time, you should know that could noteworthy mistakes will make you bankrupt or worse.
Buying rental properties may not be everyone’s dream, but definitely, a whole lot of people out there like to invest on them. For it, you should know which type of real estate investment is suitable for you and which one you should be making. When you are done with the thought process and all set to initiate the progression of real estate investing, it is vital to settle on which type of real estate investment is appropriate for you.
In order to help you be aware of the available options, I’ll be sharing another article which will help you understand which type of real estate investment is suitable for you whether industrial properties, residential investments, etc. Alright, now gets into the beginner guide for rental properties.

Conclusion:

DC Fawcett is a real estate entrepreneur come trainer, helping all real estate fervents to achieve their goals by means of his seminar and camps. In addition, he also teaches how to develop a real estate business and produce different income streams.

DC Fawcett – Pros and Cons in owning a rental property

There are certain advantages and disadvantages in owning a rental property.  Now let’s look at both of them.

The advantages in owning a rental property:

  • Compared to other forms of income the advantages of owning a rental property is less. However, everything goes on in the appropriate manner, you can earn a huge sum from this stream of income.

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  • You will be having the benefit of a direct income flow through a rental property. The monthly paychecks will give you an income that you get when you don’t mostly carry out any work. In cases the mortgage is lower than your sum got for rent there will be the advantage of a surplus.

  • All the form of investments comes with a risk and so does owning a rental property. But once you go with this, you may get some reward out of it. The property will see appreciation in due course and your equity investment is balanced. There is also the chance of getting considerable tax break. At the case of selling off your property these two aspects will boost your income. This may also happen when you refinance the property.

  • You will upgrade and maintain your property. The value of the property will be enhanced during this course action and this is called sweat equity. You may involve in repainting the property etc. to improve the value of the property at a reasonable financial cost. This will be useful when you sell it at a later stage.

  • When you are owing and having control of your rental property there is the advantage of independence attached to it. But again you will not be able to earn your livelihood through the profit gained from just one rental property. Having said that, many prudent investors own and manage a huge number of properties which in turn requires lot of commitment and hard work. But the key is that they are in a situation to act out independently.

The disadvantages of owing a rental property

Sometimes the tenants will leave the place in such a mess that you need to repaint it. You may be also put in a situation wherein you have spend lots of money to make the property retain its original attraction.  Sometimes the tenants will even escape from paying the rents.

Not only do you need to have some cash for buying the property but should also have some money to manage it. If the tenant has put your property in a mess you may require lot of money.

The tenant is on the advantageous side when you don’t carry out the required repairs. This may be owing to your financial woes. But here then the law is favorable to the tenant only. It becomes essential to consult a lawyer who is expert in real estate to go through your lease.

There are risks for a rental property including the vagaries of the market. The property may see a depreciation, a succession of bad tenants etc.

Do clarify the questions regarding tax with your accountant.

The final note:

Managing and owning rental properties is one of the several alternatives and it may suit few people. You have to have cognizance of your financial position and your inclination to take up this alternative while moving on with this move.

Dc Fawcett, the founder of the Virtual Real Estate Investing Club, gives some sound advice regarding investing money in rental properties. One could get a fair idea regarding the real estate scenario by going through his blogs.

DC Fawcett – Brace Up For Purchase In 2017

Introduction

Finding a suitable home for you to live in could be the most complicated process, and there should be a meticulous approach towards the process of purchasing a home.  There are several criteria which should be taken into account such that the home buying process is made easier.  DC Fawcett says You need to emotionally brace up when purchasing a home and it needs much assistance from experts. Also, the formalities are like a maze through which a realty agent would guide you through. Make sure that you have all the necessary money in hand before you go out for purchasing of a home.

Brace-up-for-purchase-in-2017-dc-fawcett

Now let’s see some points for purchasing a home in 2017.

  • There are a few fortunate people who can make the entire payment in cash. But for the others, financing comes to the aid. But, you need to furnish a decent credit to avail the mortgage.  Your ability to furnish a good credit score makes it possible for you to avail a mortgage.  When you cannot furnish a decent credit score, you might be turned down the mortgage.

  • When you avail of more loans, there is every possibility that the debt outweighs the credit. There are lucrative mortgages which would come up, and you should not miss it just because you have severe debt damaging your credit score.

  • You can get a fine picture of how much you can afford through the process of mortgage pre-approval. Just see to it that your pick of property caters to your budget.  Being conscious of every penny that you spend, you can ignore the properties that are beyond your affordability. Thus, you can avail of the option to purchase a property in the community that best suits your financial stand.

  • For the first time buyers, there is no inkling of a doubt that, for the financing to be done, a mortgage lender has to be approached for consultation. You need to come to terms with the money you can afford and then get into the process of buying a home. You need to have a sound knowledge of the market in the vicinity.  You know your priorities better when you work with a realty agent.

  • Always there is a prevalent uncertainty about the value of the houses, but when you make an informed decision to purchase a home, you are happily in the home thereafter.

  • The price you have to pay for financing the home buying generally exceeds the home’s actual value. Be versatile regarding the mortgage alternatives and other expenditures.

  • The house may be offered for a certain price for which much care is given. The proposal to purchase a home involves both the cost and the terms.  The terms require much additional amount to be shelled out in certain instances.

  • Retaining a property without insurance is one of the most foolish things that one could do. The insurance acts as a shield during untoward incidents that affect and damage the property.

  • The closing process comes with different terminologies as Settlement or Escrow. It is no more manual in most of the places, and there is increasing computerization of the process.

  • The process of home purchase requires you to be financially sound. Following the steps that are listed above will make things easy for you to purchase a home.  A bitter surprise should not spring on you, and you need to take every measure to see to it that you clear the process in a hassle-free manner.

Conclusion

DC Fawcett is a real estate expert and you can get to know about the various aspects of real estate through his free videos too.

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Commission for real estate transactions – Dc Fawcett

Introduction

Commission is paid for real estate transactions. Many people don’t understand how commissions are paid. They are bothered only about the cost of the commission. In this article, Dc Fawcett, a real estate investor and educator, reviews how real estate commission works and makes you comprehend commissions.

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What is a real estate commission?

A real estate commission is a fees paid to the real estate agent.

How much is it and who pays it?

A real estate agent’s commission is something which has to be paid by the broker. An agent works for the broker and the fees is paid by him. The broker makes a purchase agreement with the seller who then pays the broker along with the agent’s commission. A real estate agent’s fee is a percentage of the selling price and can be decided only when a selling transaction takes place. Now, who pays the broker’s fee? Is it the buyer or is it the seller? Well it is the seller who pays the broker’s fee.

Compensation for the real estate agent

A real estate agent is compensated anywhere between30% to 40% of the fees that the broker receives. Top class agents receive 100%

How is the money divided between the seller’s and the buyer’s agents?

Money for the seller’s and the buyer’s agents are decided according to a fixed agreement. Usually the percentage is equally divided. But in some cases one can get more than the other. In that case, the lawyer will do the needful. As stated before in this article, the broker pays the agent. The rest of the real estate fees are divided for marketing, office space and rentals.

Does the agent deliver as much as the fees?

When the home gets listed and then gets marketed very quickly, then the seller’s agent does not have much work. He gets commission for listing, fixing up the price and so on. This is just the basic work and he has not put in so much of efforts. The home has sold rapidly, luckily for him. But, he gets the commission as signed in the contract. On the other hand, say, a home does not get sold for a long time, even a year. Then the agent has to conduct many open houses, speak with so many buyers, keep abreast of market developments and effectively update marketing strategies. Also he has to bear the cost for advertising, signage and so on. In this case also, the agent receives the fixed commission only. So, this argument has a neutral side and you cannot decide on this.

Listing price commission

The listing price is the selling price. When the listing agreement is signed between the broker and the seller, the broker gets complete authority to market the home. When he does this, the agent of the broker brings a buyer for the seller. If the home sells, the broker gets a percentage of the list price as the commission. This is shared with the agent.

Conclusion

These are some of the basic points on how the real estate commission works as reviewed by Dc Fawcett.

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Qualities of Good Real Estate Agent – DC Fawcett

We would have spent very little time with real estate agent until we get into the process of buying or selling.  And, many of us would be first time buyers or sellers.  You would find it hard to make out an ideal agent from a substandard one.

DC Fawcett says that Each and every buyer is not the same. The experience level and the needs vary.  Those who are initially into the process of buying require lot of guidance.  Those who put in time and money need plenty of information.  Majority of them need help with respect to transaction and guidance when it comes to making decisions.

Qualities-of-Good-Real-Estate-Agent

When it comes to a resort, those who option for buying need added guidance and support.  However much the potential buyer has, it does not add to the credits if there is no actual experience in the market area.  Many of the residences are for an exorbitant rate, and the purchasers possess ample experience.  But, when considering the nature of particular vicinity, a realty agent’s expertise is required.

When you happen to be the representative for purchasers in other varieties of properties, a realty agent’s assistance is needed.  When you take into account the sellers, they prefer disposing their houses immediately and that too for an exorbitant amount.

Many of the sellers do not rely too much on the realty agents.  They want their property to be marketed, and of course Internet has made vast changes to the realty market scenario.

Some quality of Real Estate Agent

  • The ideal realty agent should possess sound interpersonal skills, and should be technology savvy.

  • The real estate agent should be proactive in the sense that they should inform you as soon as possible about your current stand in the purchasing or selling scenario. In this way you can shift your attention to a different property or another buyer. So the key is that there should be communication gap between the realty agent and the buyer or seller.

  • As a good real estate agent, it is very essential to give priority to the clients. The client should feel that he is having someone to rely upon.

  • The real estate agent should perform the work in a streamlined manner. When the sellers want to enhance the selling ability of their property the agents can guide them even with the minutest details. They don’t procrastinate and are punctual in their meetings.

  • Real estate agents are committed to their work and they possess lot of tenacity.

  • Honesty is the most important quality of a real estate agent. The agent should tell the real situation should converse in a straightforward manner. The sellers will not be stressed if the agent gives them an honest account of the current scenario.

  • A good real estate agent will be flexible to the requirements of the clients. The clients’ method of communication may vary and the good agent can adapt themselves accordingly.

Conclusion

DC Fawcett is the founder of the Virtual Real Estate Investing Club. He has a good idea of what is working better in the current real estate market.

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Dc Fawcett – Tips on 5 things every real estate pro knows – the 5 star

There are 5 necessary strategies that all real estate investors should learn as reviewed by DC Fawcett

Introduction

Real estate investors should know the ins and outs of the business which they usually do. They can employ many ways to do this. He can hire a real estate agent, research books, browse the internet, read articles related to real estate, converse with similar people, attend real estate conferences and so on. For initial investors it can be difficult but as time goes by it will become easier.

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DC Fawcett’s review on the 5 tricks that every real estate investor should know is simply great and will provide substantial guidelines for real estate investors.

Analyze local prices

A real estate investor should compare average home prices and current price patterns in his area with the neighboring localities. This will help him to understand where the best market is.  Also over the time this helps him to comprehend which is a bad price, a good price and an over price. He can source out these price trends from the local newspaper, the internet or the town hall. Or even better he can hire a real estate agent.

Look for rapidly developing areas

Real estate investors should look for areas which are developing fast.  Developing areas generally show some clear signs such as construction of new buildings and schools, development of new infrastructure such as roads, railway stations and bus stops, widening of lanes which are main roads, the erection of new traffic lights and so on. Also information on developing areas – both local and state can be obtained by talking with some local municipality officials. This way they can find out about developing areas and invest in them.

 Invest in areas with low property taxes.

A real estate investor should look for low-tax areas. This way he can save a lot on property taxes. Communities which are overcrowded usually impose high property taxes. Indicators are full schools, bad roads etc which means the town has to be refurbished.  An investor can consult a local tax assessor who will show him a list of low-tax areas and tell him how much tax the town imposes per $100 of house.  A real estate agent will also help.

Look for places with quality education

Often areas with quality education are those with good school rankings. Homes in these areas are usually targeted by parents. Real estate investors have to look out for such areas. They can check the  state’s board of education website, check PSK12.com or visit the school itself to find out the ranking and the standard of education.

Outskirts of a developed area are good for investing

If an area becomes overpriced, then real estate investors can invest in outer boundaries of the area. Areas which are in proximity to major rail and bus transportations are even more desirable.  Real estate investors can consult the local rail road or bus company and check if they are planning to develop service in that area.

Conclusion

Every real estate pro must know these 5 tricks laid down by DC Fawcett

Dc Fawcett Tips – Marketing Rental Properties

Introduction :

What does real estate mean to a layman?

There are lot of things attached to it but they will be thinking about properties that are put for sale. Landlords are given a big task of marketing these houses and with regard to this he has to invest in a substantial effort. Having said that, there are lot of differences between for-sale and for-rent.

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Tips for marketing rental properties

There are different methods of advertising and marketing your rental property. When you want to keep up long-term tenants you can seek some options.

  • Being a landlord, Internet is a direct channel for the communication between the landlord and tenant. Though there are several sites dedicated to posting listings you should be in a position to know which one is best to assist you in the process.

  • When social media is used in the right sense it can bring great success to the landlord. Facebook and Instagram could also have some influence in certain markets.

  • Take time to obtain excellent quality listing images. Potential clients will get to know about the property and those who are not interested will not consider it. When the images are interesting they can also be used in social media.

  • YouTube is also a good option. Both the individuals who are just curious and those who are keen on renting the property will be helped through this. But it is necessary to develop a professional and standard video the shows your rental in its best form.

  • Though there are different ways available to market your rental property, word of mouth has not lost its effect. You can involve in providing referral incentives to the people who are close to you including your friends, family members etc.

  • What is that that differentiates you from the property at your neighborhood? You can involve in providing a free gift etc. There are some innovative things also that you can work upon like a hotel gift card.

  • What is the first thing that people who come to your place see? It’s surely the yard. Seeing the exterior of the house also they will come to a conclusion. So you can engage in doing some nice things like planting the flowers etc.

  • Research on what your target wants and venture on advertising anything that is corresponding to their wants. They may desire for a neighborhood park. The prospective tenants should see you shining in the crowd.

  • When you opt for long-term success you should be reputable for providing honest and valuable details. You can interact with others through a blog, monthly newsletter etc. Make people informed about good causes and initiate engaging interactions.

  • Though this is a digital era physical sign hasn’t lost it value. People will be attracted by flyers too. So you can make use of excellent quality signs. Your presence will easily be strengthened through this.

  • You can even market your rental property through local bulletin boards. Bus stops, shops etc are some of the places where you can advertise.

Conclusion :

Dc Fawcett is the founder of the Virtual Real Estate Investing Club. You can get to know about things like how to grow your business. There is also abundance of free Virtual Real Estate Investing advice on his blog space.

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