Investing in property? You’ll find it so much quicker and easier utilising a buyers agent based on your own clear financial strategy. Why? Because buyers agent offers you accurate comparison of your options. You won’t need to spend valuable time on prior research, just sit back and compare properties, loans or broker providers.
In terms of investing in property you can choose between negative geared property or cash flow geared property. If you need help check out property investments weekly webinars held between Monday and Wednesday nights at 8.00pm Eastern Standard Time or feel free to contact us.
Creating your shortlist of properties becomes so much more efficient and accurate when you use our unique investment strategy and exclusive buyers agent. We can help you to better understand your required property investments criteria and create for you an easy-to-digest shortlist of options.
Are you a new or seasoned property investor? Want to maximize the performance of your investment property? When it comes to your finances, it pays to make the right choice. Choose your investment strategy based on your personal goals.
Which of the following should you do before you start investing in property?
- Sell your home
- Check your credit score
- Shop for furniture
Why check your credit score well ahead of the investing in property process? Because if you discover an error, you’ve got plenty of time to go through the official process of correcting it.
When investing in property should you be shopping for a loan? Which status should you seek to give you an upper hand with a seller?
Its important when investing in property to get pre-approved for a loan. Although pre-qualification is free, it’s unofficial and often unreliable. Pre-approval means a lender has looked into your credit and financial situation more closely and will make you look like a serious buyer to the seller.
What is amortization?
- Process of taking out a second mortgage
- Process of drowning in debt from a mortgage
- Process of paying off the mortgage gradually
Amortization is the process of paying off the principal of a loan in incremental payments that gradually chip away at the principal.
Which of the following mortgage terms gives you the maximum tax advantage?
- 15-year fixed rate
- 20-year fixed rate
- 30-year fixed rate
The 30-year term gives you the maximum tax advantage by having the greatest interest deduction.
What percent down payment should you make in order to avoid having to get private mortgage insurance?
- 20 percent
- 35 percent
- 45 percent
Unless you pay at least a 20-percent down payment, you’ll also have to pay private mortgage insurance (PMI). This can sometimes be pretty expensive, so it makes sense to put as much into your down payment as you can.
How much should you expect to pay for a professional home inspection?
- $50 to $100
- $200 to $500
- $800 to $1100
Professional Inspections cost anywhere from $200-$500 but are well worth it. Even with new construction, there can be hidden problems that only a professional inspector may find.
Which of the following types of real estate agent works for an office that does not take listings of any kind and represents only buyers?
- Exclusive buyer agent
- Single agency buyer agent
- Dual agent
An exclusive buyer agent represents only buyers and does not list properties. A single agency buyer agent (SA) works for an office that represents both buyers and sellers but will not represent both in one transaction. A traditional buyer agent might work as a dual agent, representing both buyer and seller in one transaction.
If you sign an agreement with a buyer’s agent, which kind of clause should you make sure the contract includes?
- Fee escalation clause
- Release clause
- Lemon clause
Make sure you have a “release clause” in your buyer’s agency agreement just in case you find out you just don’t like your agent. This will allow you to sever ties without any future problems.
After a seller has told you he has agreed to accept your offer and then backs out, what’s your legal recourse?
- You can sue and most likely get the house back.
- You can sue for fraud and damages, but you probably won’t get the house in the end.
- You have none because a verbal agreement is non-binding.
Unfortunately, there’s not much you can do short of pleading with the seller. Verbal agreements aren’t binding, and you’ll find that you have little legal recourse.
Which of the following isn’t a typical fee you’ll have to pay in closing costs as a buyer?
- Seller’s agent fee
- Notary fee
- Escrow fee
The seller is responsible for paying the seller’s agent, not the buyer. The escrow fee is a typical fee for a neutral third party to hold the funds during negotiations. A notary should be paid to notarize the documents.
Investing in Property