Aventura Industry Market Update
Aventura Industry Market Update
Blog Article
When someone is thinking about selling their home, they may wonder if they can do it on their own. It may seem simple to post a sign on the lawn and then take all the commission, however it is not that easy. The most effective way to sell a home will be based on hiring an agent to handle the job. Learning why you need a real estate agent, may have sellers changing their minds and deciding to leave the task to a professional.
Understand that as a seller you are the broker's employer. The broker also has by law, a fiduciary duty to you and is charged with trying to get you the best possible price and terms for your property.
Here is what I would recommend you did instead of running to a property agent the minute you decide to sell your house. Try an online real estate company such as you might find on FlatFeeListing in your state. They will put your home up for sale in a Multiple Listing Service. At one time, it used to be that these were only accessible to a real estate in Marbella. estate agent; not anymore. And you don't pay 6% either - all you ever do is to make a one-time payment of $500. Of course you'll still owe 3% to the buyer's agen. But, that the could still save you thousands of dollars.
Ask the real estate development. investors you have met and spoken to what you could do to help them. Many investors pay up to $1000 for each property you find that they buy. Just start by asking friends and family if they know of anyone who needs help and get that number. Call that person and check to see if they need to sell, if so, connect them to your group of investors and follow up.
Only in the last couple of years has the government started to collect property taxes. Basicly it depends upon the value of the property you purchase. If you purchase a residential property and it is worth RD$5 Million Pesos or less (about US$150,000) then you pay 0 (zero) annual property taxes. If the home is worth more than that amount, you benalus real estate pay 1% of the value over and above RD$5 Million Pesos (or US$150,000). If you purchase raw land or undeveloped land, then in that case there is an annual property tax calculation regardless of the value. In our real estate listings you will find a large number of middle class home or luxury apartment for less than 5 Million Pesos, so you will not have any annual tax payments on your Dominican real estate company or service. Estate.
Hotels and condos - One cannot predict the capability of cash flows, sales prices or rental values from these investments. It represents the worst case of investment. They bring along themselves the risk of reselling.
What may be most surprising to some is perception vs. reality in several price categories for luxury homes. From $500,000 to $600,000 there are less than 5 months of inventory and between $800,000 and $900,000, there is 4.7 months of inventory. While the news makes many feel that sellers of luxury homes will have to wait eons to sell their real estate, the numbers in these price points suggest otherwise.
Will display character should your deal go sideways. You will need a lender who has experience and the character to work with you in the ups and downs many real estate development and improvement projects can take. No doubt, most lenders have experienced a hiccup and had to formulate a plan to resolve the problem. The question is, how did they do this? I invite you to ask a prospective lender the following: "In the past, what steps did you take to assist a borrower when a project was in distress?" The answer must involve both the project and you. Securing the best interest and fee rate with a lender who is difficult or frustrating to deal with when things aren't all roses will come back to haunt you! Report this page