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How to Buy Your First Condo without Getting BurnedWell, here I am buying my first condo and boy am I learning alot.First I learned to pick a real estate agent I know or at least one who has been recommended. There are so many behind the scenes deals going on, with some of these realtors, that you can't tell whether they actually care if you get a good deal or not. Some realtors only work with certain builders or certain properties. This means that there is a whole world of other condos out there in your price range that you may not be seeing. Next I learned to check the construction. Here in Florida you want a concrete based construction. Many of these new condos or apartment to condo conversions use what seems like pliewood. This is not a great idea in a state full of termites and humidity. The last thing you want is to find mold growing on your fabulous outfits, when you open your closets or see chunks of your wall missing. Also with the number of hurricanes we get down here, the concrete based buildings have a much better chance of surviving. Ask the realtor and the seller what the building is made out of. They are legally required to answer your questions. Also, ask if they have had any problems at all with the unit or the building. If you don't ask they don't have to tell you everything. That is where the saying buyer beware comes from. They have to answer your questions honestly but anything left unasked is your responsibility or for the courts and your lawyers to battle out. Talk to your future neighbors. If everyone living there looks depressed or pissed off there may be a darned good reason these units are for sale. Also look at the cars parked in the parking lot. Are they BMWs or beat up Chevy's with bullet holes? You don't have to live at the Ritz but you also don't want most of the units to be composed of drug dealers either. Check into the surrounding area. Are you close to a good school? This should help your property retain its value. Also check on the criminal statistics in that area. It may look pretty during the day but what happens at night? Research is your best tool. Selling prices of sorrounding units and properties are public record. See what the properties around you sold for in the last few months and compare it to the asking price. Are the seller's expectations too high? Negotiate. Never give full asking price. Here in Orlando, I have heard of houses going for more than the asking price. This is nuts! Everyone is acting as if there won't be another house for sale ever. This is ludicrous. Every time I drive down the street, I see new houses posted for sale and these signs are staying up for longer periods. There are motivated sellers out there. See if the owners are still in residence. If they are still living there, they may not be completely motivated to sell. After all they are only paying their mortgate, as usual. On the other hand if the apartment is vacant and the electricity is turned off, they may be alot more motivated to sell. They are now paying the mortgage for an empty condo plus rent or another mortgage on another property. These are just a few tips on making sure you get a first home that you can be proud of and happy in. Happy Hunting. http://www.a1-real-estate-investing.com About the author: Caterina Christakos is a published author and a private real estate investor. To learn more tips on how to buy property and find investors go to: http://www.a1-real-estate-investing.com Circulated by Article Emporium Why Bulgaria Because no other European country offers better value for your money! Located in South Eastern Europe, Bulgaria is bordered by Greece and Turkey to the South, Romania to the North and Macedonia and Serbia to the West. Its Eastern Border is formed by the beautiful Black ... How to Buy Your First Condo without Getting Burned Well, here I am buying my first condo and boy am I learning alot. First I learned to pick a real estate agent I know or at least one who has been recommended. There are so many behind the scenes deals going on, with some of these realtors, that you can't tell whet... Fix And Flip - A Real Estate Formula Making money with a "fix and flip" property is a great way to make money in real estate. However, it isn't about repairing drywall and planting flowers. It's all about how you do the numbers. People often buy and sell a fixer-upper without a definite plan. They buy a house... European Second Home Prices Wilt in Drought Spain and Portugal have suffered one of their worst droughts on record this summer, with consequences from empty swimming pools for the tourist to economic disaster for farmers losing their crops and livestock. Roger Munns, Managing Director of Tribune Properties, predic... Where To Invest In Real Estate Where should you invest in real estate? If you know an area well, and have enough experience investing in real estate, you can make money almost anywhere. However, there are always places that are better or worse for real estate investments - places that have a better demand/supply... Low Cost Houses - How To Find Them How do you find low cost houses? Look in the right towns,to begin with. Then you can find the houses you like and make an offer. Where are the right towns? Altoona, Pennsyvania still had dozens of homes for sale for less than $30,00 as I write this (2005). I just saw one l... Florida Residents Here's the Secret to Earning 1% Interest a Month for Four Months on Your Money What's the highest interest rate you can earn now in a safe, government-sponsored program? Did you say 4% per year? Wrong! In Florida, for the next 4 months, every real property and tangible personal property taxpayer can earn an effective interest rate of 1% PER ... Fix And Flip - A Real Estate Formula Making money with a "fix and flip" property is a great way to make money in real estate. However, it isn't about repairing drywall and planting flowers. It's all about how you do the numbers. People often buy and sell a fixer-upper without a definite plan. They buy a house... Real Estate Investment - When, What and Where? Like economy and stock market, real estate often runs in cycles of approximately 7-10 years. The value of real estate often goes up for a few years, tops out, keeps flat or goes down for 2-3 years. The availability of low interest rate mortgage and recovery of economy will eventual... Harness the Web to Sell Your Home The majority of people in the UK who are looking to move house use the internet to find properties for sale. So it makes sense to ensure that your property is on the web if you want to sell. If you are with an estate agent, most will list your property on one of the major propert... Real Estate Research - Talk To Everyone Real estate research might start with a look at the U.S. Census information about a town. It can include inspections of specific properties, too. There are many statical tools and information that can help, but don't forget one of the easiest and most useful research tools: talking... Real Estate: Mark Twain's Case for Investing in the Bay Area & Other "Bubble" Markets Mark Twain took a long-term and somewhat philosophical look not only at life but real estate. Looking through Mark Twain's eyes, there's a strong case for continuing to invest in tight real estate markets such as Bay Area real estate. Real estate is always a good investmen... Community Renewal | Low Costs for High Gains Are you concerned with the lowering value of real estate caused by job loss, businesses shutting down and abandoned properties? Despite the economic growth in major cities across North America, smaller communities are facing this downgrading and becoming targets for increa... Pre-Approval Letter – How To Use It To Get Your Dream Home When house hunting, many buyers make the mistake of waiting to contact a lender until after they have located their dream home. As a buyer, you will be in a much stronger position with a seller if you are pre-approved. Pre-Approval Letter To effectively house hunt... Glen Rose real estate market growing thanks to demand for exurban subdivisions. Although most widely known as the Dinosaur Capitol of Texas and for its travel and tourism appeal, Glen Rose, Texas is quickly gaining a reputation as a highly sought after city to live in. As recently as 2004, Glen Rose was voted as America's Dream Town (www.glenrosearea.com), an...
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