Estate agency is saturated with new legislation, online advice and stories in it’s news; we’ve got one of each to share! Firstly, it has been in the news that UK first time buyers must act quickly to avoid paying stamp duty. With less than three months of the stamp duty tax holiday remaining, the National Association of Estate Agents has warned that first time buyers must act quickly to avoid paying Stamp Duty Land Tax on their home purchase.

Once the Government ends the tax exemption in March 2012 the stamp duty holiday will well and truly be over for first time buyers who will face a tax on all home purchases over 250,000 of 3% .

Relating also to UK first time buyers, there are some basic tips to prepare for the process. Firstly, organise yourself financially. An obvious tip but easy to push aside – ascertaining your mortgage requirements early on will not only qualify you as a serious buyer to estate agents, but will reduce the likelihood of the nightmare scenario of a home purchase falling through. One of the main reasons property transactions don’t complete is because buyers are unable to secure a mortgage.

In addition to this, don’t forget also to obtain a written agreement from a lender before you commence your property search. This will give you a realistic idea about your budget and get you on the right track to purchasing your dream home.

Our next tip is to appoint a solicitor early on in the house purchase process. The earlier you have your conveyancing arranged with a solicitor the better. This puts you in a great position to progress and complete the purchase and will reduce the hassle of organising all the legal work involved further down the line. The conveyancing process can be lengthy and difficult to understand, which is why it is a real benefit to appoint a solicitor to deal with it as quickly as possible.

Finally, a bit of light hearted news: Is Italy the Top Cat for property? The widow of an Italian property mogul passed away recently, and left all of her real estate and assets to her pet cat! Four year old Tommaso inherited 10 million and an empire of Italian flats and houses, but he’s not the only happy homeowner in the country, as estate agents say that Italy’s property market is the busiest it has been for four years.

There are some great stories and valuable information around for those interested in or working with property. For massive savings and the latest industry information visit e-stateagent, your internet estate agents.

The main key factor in successful property investment is of course research. Having a sound knowledge in the business of investment will provide a solid foundation to build success upon- especially in a world full of risks. Although there are many different investment options the most popular still remains to be house flipping, which involves buying an investment property and reselling to make a profit.

House flipping can be an effective way to make a good return but does require the general hard yards and a good purchase to start with. It can be helpful to get professional advice, investment property companies can provide the industry knowledge that can help ensure a successful venture. Investors also need to rely on the market so never count on flipping within a certain time-frame as it is always very difficult to predict the property market. There are particular tricks that investors use in order to reduce the risk of a bad investment with house flipping so read on to discover some of the key elements ensure success.

Buying the Property

Buying a property for investment is very different to buying a home for oneself and personal preference must remain at the door each time you evaluate a potential property. Recording any important selling points upon inspection will give you a guide to work from once you have returned home. The amount of repairs and renovations needs to be accurately estimated to ensure the financial cost won’t outweigh the profit.

Look for certain features or characteristics that make a property stand out from the rest, perhaps it boasts a large back section or a tidy brick exterior – things like this will improve your chance of sale later. Look for features that aren’t flattering too, like poorly designed homes or ugly extensions and partitions that detract from the homes natural flow. Check the landscape, gardens and ground leveling is easy and affordable whilst large fencing projects can be costly. Heavy attention should be paid towards any sign of structural or land issues as this would be a major deal-breaker.

This doesn’t rule out buying a ‘unique’ home – quite the opposite actually! Even if the house is beautiful, you want it to have some unique characteristics that make it stand out from the rest on the street.

Spend time researching the location you intend to buy in as this will have a strong impact on your sale figure. Homes in good areas fare well during property slumps and houses come up for sale less frequently. Remember buyers are also researching the location so be sure to investigate crime rates and noise levels because, for example, an Auckland property investment beside the motorway may have a lower market value and be harder to sell. Try to buy in suburban areas that are in close proximity to local amenities, this can be included in the sales pitch. Ensure the location matches the target group’s expectations.

Focusing on demographics will go a long way in the property investment business. For a quick sale it is easiest to start with the largest demographic which are middle-class working families. Finding homes to suit them is easy and there are always buyers. It becomes clear that in order to attract families you would need a property to suit their needs – clearly apartments wouldn’t be the right purchase. Middle range properties with potential and big yards will be snapped up first so keep this in mind during the buying process.

Once there is a property that appears to fit the bill, a building inspection can be ordered. This is the most important pre-sale step to take place in any property purchase as it can determine the value of a property very quickly. Being aware of structural faults is important so take the time to find a reputable inspector and listen to what they have to say. If the inspection is good you are free to put an offer in.

The idea of house flipping is to purchase a property that needs minor and quick renovations such as; new bench tops, carpet, paint and landscaping. If the property is purchased cheap enough, new kitchens and bathrooms make a real difference for on-sale too. Use reputable tradesmen for the major jobs and do the small things yourself, this will save money while still ensuring a professional job. Choose neutral, trendy colours and avoid buying expensive fittings.

After the completion of renovations it’s time to start preparing the property for the market, it’s best to hold out for a market peak if you can afford to. Of course it can be more cost effective to sell promptly so check the finances before making any major decisions. Employ the help of a reputable real estate agent to help with marketing the property efficiently and set your starting price slightly higher to allow room for bargaining with buyers.

To sum it up, the best fix and flip properties are those that require simple renovations to achieve the maximum increase in market value – as well as buying for a large target market. By focusing on starter homes in good areas that are not economically obsolete, you can dramatically increase your odds of success. Happy buying!

Enlist the help and advice that will make your property investment venture a success with Propellor Property Investments.

Despite the fact that mortgage foreclosures have dropped in 2011, this coming year foreclosures are expected to rise and because of the state of the current economic crisis and mortgage industry it might carry on for the following number of years. Who dealt this mess anyway? That’s a vintage card player’s phrase, but typically we could pull the old switcheroo and use it to the foreclosure and banking situations that are hurting lots of people, particularly in Suffolk, Nassau, and Long Island for example.

For anyone who is having difficulties paying your mortgage bills, or already are in foreclosure, chances are you’ll feel frightened and humiliated or overwhelmed. It’s very imperative that you act promptly. The more time you procrastinate the a fewer number of alternatives you may have, such as keeping your property or stopping foreclosure. Fully understand your options and take action accordingly.

Pay a visit to the State of New York banking department website. There you will find information some decent, some not. They will propose that you call your loan servicer right away; your lender, your bank. Although that can certainly be a great idea down the road, the main thing you may want to do is to contact a not for profit real estate counselor. Should you be in Nassau County, speak to the Nassau County Bar Association; should you be in Suffolk County, contact the Suffolk County Bar Association. They usually are happy to help you.

Clearly you could call a qualified eviction attorney in your area. An eviction lawyer can take you step-by-step through your rights and help you make the very best decision for you and your family. With the laws constantly changing, it’s hugely recommended to get the help of a lawyer if your case would go to court.

Be aware of scams. Watch out for anyone who asks for an upfront payment in exchange for getting you a loan modification, saving your property from default or ceasing the foreclosure or tax sale. New York law forbids, absolutely forbids the assortment of such fees in almost all cases.

Watch out for any individual who says they are able to preserve your home if you sign or transfer the deed to your home over to them to help you get caught up on your home loan payments or refinance your mortgage. Never hand in a payment to any individual but your bank or your bank’s loan servicer.

If you’re ever in foreclosure you have a couple of alternatives: give up or fight it. I would recommend the 2nd. The framework of foreclosure law in N.y., Long Island, Nassau County and Suffolk County is in a state of flux and evolves all the time.

No matter what step of foreclosure you’re in or even if your property has already been sold in foreclosure; and you are facing eviction, you can find solutions available to you. There are people who are in post-foreclosure landlord-tenant actions, to take them from the residence, who’ve properly reopened the foreclosure and had the ability to, at the very least, reach an evidentiary hearing in the Supreme Court.

Contact an eviction attorney today to learn more about foreclosures and to get help today.