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Going to buy a foreclosure home – things you need to look into – buying a foreclosure

Posted on 17 June 2011

buying a foreclosure – Going to buy a foreclosure home – things you need to look into

Going to buy a foreclosure home â?? things you need to look into

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Home Page > Finance > Real Estate > Going to buy a foreclosure home â?? things you need to look into

Going to buy a foreclosure home â?? things you need to look into

Posted: Sep 30, 2009 |Comments: 0
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The latest trend in the real estate scene is to buy foreclosure homes. Rather than you dealing with the homeowner who would like to sell his home, it is a good idea to go through an agent as the homeowner may be deeply attached to his home and parting away from it due to financial hardships. Therefore, ensure that you are not dealing with the homeowner directly and using an agent rather.

Is your perception that you get a foreclosure home for a few hundred dollars after seeing all those TV advertisements? They are deceiving you and it is definitely not that easy buying a foreclosure home. There are various factors that you need to take into consideration when you buy a foreclosure home.

As I said earlier, get in touch with an agent when you buy a foreclosure home and ensure he knows in and out of foreclosure properties. People who sell their homes due to financial hardships will definitely be distressed and these agents know how to communicate with them. Homeowners are distressed as they are going to leave their homes where thy lived in for years with their near and dear. Almost all foreclosure home agents have a certain script using which they console the homeowners and reduce their distress thereby making them not to feel much about selling their homes. These agentsâ?? acts as a middleman between you, that is, the one who is going to buy the foreclosure home and the one that is selling the home. They try to answer each and every question that the other party has.

You meet the homeowner only after the real estate agent has met him and discussed about the terms and conditions. Greet them and make them comfortable when you meet them and tell them you really liked buying their home and will take good care of the home. Be empathetic when you talk to them and make them feel at home. Just tell me how would you feel if you have to part with you dear home? Wonâ??t you feel sad? This is the same feeling they too will have and therefore show them some sympathy and make them understand how sincere you are in buying their home.

As how you consult a real estate agent, consult an attorney too. Ask them to do the basic groundwork about why they are selling this home, have they borrowed money from various sellers and will they come and question you after you buy that home and other such things. Certain homeowners would have pledged or mortgaged their homes and if they didnâ??t pay them, they will come to you. An attorney will be able to research on this and tell you whether you can buy a foreclosure home or not.

Apart from the money you spent on buying the foreclosure home, you will have to take into account other costs like paying the real estate agent, paying the attorney; if the home is not in good condition, you may have to spend on repairing it and remodel the home to suit your taste and requirements. Not all foreclosure homes will be in good condition. Most of the foreclosure homes require renovation. Therefore, once again I tell you to get in touch with a real estate agent who is well qualified in the area of foreclosure homes and also an attorney before you buy a foreclosure home.

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Going to buy a foreclosure home – things you need to look into – buying a foreclosure

Posted on 11 June 2011

buying a foreclosure – Going to buy a foreclosure home – things you need to look into

Going to buy a foreclosure home â?? things you need to look into

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Home Page > Finance > Real Estate > Going to buy a foreclosure home â?? things you need to look into

Going to buy a foreclosure home â?? things you need to look into

Posted: Sep 30, 2009 |Comments: 0
|

]]>

The latest trend in the real estate scene is to buy foreclosure homes. Rather than you dealing with the homeowner who would like to sell his home, it is a good idea to go through an agent as the homeowner may be deeply attached to his home and parting away from it due to financial hardships. Therefore, ensure that you are not dealing with the homeowner directly and using an agent rather.

Is your perception that you get a foreclosure home for a few hundred dollars after seeing all those TV advertisements? They are deceiving you and it is definitely not that easy buying a foreclosure home. There are various factors that you need to take into consideration when you buy a foreclosure home.

As I said earlier, get in touch with an agent when you buy a foreclosure home and ensure he knows in and out of foreclosure properties. People who sell their homes due to financial hardships will definitely be distressed and these agents know how to communicate with them. Homeowners are distressed as they are going to leave their homes where thy lived in for years with their near and dear. Almost all foreclosure home agents have a certain script using which they console the homeowners and reduce their distress thereby making them not to feel much about selling their homes. These agentsâ?? acts as a middleman between you, that is, the one who is going to buy the foreclosure home and the one that is selling the home. They try to answer each and every question that the other party has.

You meet the homeowner only after the real estate agent has met him and discussed about the terms and conditions. Greet them and make them comfortable when you meet them and tell them you really liked buying their home and will take good care of the home. Be empathetic when you talk to them and make them feel at home. Just tell me how would you feel if you have to part with you dear home? Wonâ??t you feel sad? This is the same feeling they too will have and therefore show them some sympathy and make them understand how sincere you are in buying their home.

As how you consult a real estate agent, consult an attorney too. Ask them to do the basic groundwork about why they are selling this home, have they borrowed money from various sellers and will they come and question you after you buy that home and other such things. Certain homeowners would have pledged or mortgaged their homes and if they didnâ??t pay them, they will come to you. An attorney will be able to research on this and tell you whether you can buy a foreclosure home or not.

Apart from the money you spent on buying the foreclosure home, you will have to take into account other costs like paying the real estate agent, paying the attorney; if the home is not in good condition, you may have to spend on repairing it and remodel the home to suit your taste and requirements. Not all foreclosure homes will be in good condition. Most of the foreclosure homes require renovation. Therefore, once again I tell you to get in touch with a real estate agent who is well qualified in the area of foreclosure homes and also an attorney before you buy a foreclosure home.

Retrieved from “http://www.articlesbase.com/real-estate-articles/going-to-buy-a-foreclosure-home-things-you-need-to-look-into-1287053.html”

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Justin Okeefe -
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Find Bank Owned Foreclosures at BankOwnedProperties.org or visit our Mortgage Calculator.

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What do people look for when buying a home?
How long does home foreclosure take ?
Hello i am considering buying a home my credit is bad i do have a good paying job i was wondering if i come up wid 5,000-8,000 is it possible i can buy a home??

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Tags: Boost, capital, Financing, house, housing, Look, tierII

LIC Housing look for to boost tier-II capital – house financing

Posted on 28 May 2011

house financing – LIC Housing look for to boost tier-II capital

LIC Housing look for to boost tier-II capital

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LIC Housing look for to boost tier-II capital

By: Bhavana Jhingan
Posted: Oct 16, 2010

LIC Housing Finance could consider boosting the tier-II capital this year. According to RR Nair , director and chief executive officer (CEO) at LIC Housing Finance, the company’s capital adequacy ratio is at 14%.

However, the loan book is growing at 36% per annum, he said that the company may consider lifting the tier-II capital which was about 5% of the capital adequacy ratio of 14% maintained by the company.

The tier-II capital includes undisclosed reserves, revaluation reserves, general provisions, hybrid instruments and subordinated term debt. He said that there was no plan to raise equity. The company could consider the equity option only if it gets into a capital-intensive business like retail banking.

Read more articles
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Consider taking a home loan now

LIC Housing Finance reported net interest margins of 2.93% for the quarter ended September 30, 2010 against 2.44% in the corresponding quarter last year. He doesn’t expect margins to fall below 2.8%, even if the borrowing cost goes up.

He believes that three factors will influence the profitability, going forward. These include a continuing growth of 36% in the loan book without any pressure on margins. A fund manager at a foreign mutual fund expressed concern about the rapid growth in the loan book.

Mr Nair defended the growth strategy, saying that there is no deterioration in the quality of the company’s assets and there is no compromise on pricing. He is of the view that LIC Housing Finance’s offer of a 9.25% fixed loan for the first five years is not as aggressive as the competition.

The second aspect is a decline in non-performing assets. The gross NPAs of the company stood at 0.74% (Rs 319.59 crore) on September 30, 2010 against 1.28% (Rs 408.55 crore) as on September 30, 2009. Net NPAs were 0.21% (Rs 90.16 crore) against 0.62% (Rs 198.25 crore) during the year-ago period.

The third factor, Mr Nair emphasised on, is the borrowing mix. He said that 58% of LIC Housing Finance’s borrowing was at a fixed interest rate of around 8%. “This provides us a cushion against any potential rise in interest rates,” he added.

Bhavana Jhingan – About the Author:

Working with a WRS Info India Pvt Ltd.

Source: http://www.articlesbase.com/loans-articles/lic-housing-look-for-to-boost-tier-ii-capital-3486660.html

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Article Tags:
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LIC Housing look for to boost tier-II capital – house financing

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house financing – LIC Housing look for to boost tier-II capital

LIC Housing look for to boost tier-II capital

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Home Page > Finance > Loans > LIC Housing look for to boost tier-II capital

LIC Housing look for to boost tier-II capital

Posted: Oct 16, 2010 |Comments: 0
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