Little Real Estate

As a right of realization of value , the mortgage is designed to allow the creditor financial compensation mortgage against the debtor does not comply. To this end, Art. 12 of the Mortgage Act requires that to become the mortgage shall state the amount of the secured obligation and their interest, to a maximum of five years, and the value that has been appraised for auction the property or rights pledged in .

It is also a right accessory , the mortgage, in general, is based on the prior existence of a right is above and to ensure the fulfillment of an obligation, affecting a particular property so special and priority to the fulfillment of that obligation. The primary obligation and the collateral, or accessory, are inextricably linked so that if the principal obligation is extinguished, it can not continue living the consultant, and the guarantee is void. However, Law 41/2007 of December 7, which amended the Mortgage Law of 1946 in the sense of emergency, the dogma of the incidental nature of the mortgage , with the new art. 153-bis of the Mortgage Law, the text provides a certificate of naturalization to the so-called omnibus mortgage for certain subjects, and only in its highest form of mortgage that can be valid regardless of the insured obligations with it. Also, the incidental nature of citadodogma has broken with the modification of art. 4 of Act 2 / 1994 of March 30, in paragraph 3 of which creates the llamadahipoteca recharge. As right indivisible, until it is canceled the mortgage, remains in full affect each and every one of the parts of the mortgaged and ensuring all the credit, and each of its parts, so long as there is yet a part credit, the mortgage will be full, but the secured obligation is divided, or is terminated in part, the mortgage shall remain in full until the secured debt is fully paid.

The indivisibility does not stop with the express consent of the mortgagee, and only in this way, the mortgage is divided if, after or simultaneously, has split the thing mortgaged.

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Among the steps and costs of the mortgage is the home appraisal, which is just a specialized report that will determine the actual value of the property and that the bank will use to set the amount of money we pay in the mortgage.

The home appraisal is part of the mortgage loan study conducted by the bank after asking for a mortgage . In fact, one of the first steps in the application process but who remain outside the applicant except to pay the costs. However, it never hurts to know how it works. Signature would be very briefly these steps:

1. Once you know the location of the bank floor in contact with the appraiser, requesting that the deed to the property and if the plan works, the building permit and the project.

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When we think of saving in our home, deciding to leave, there are two options: either buy or rent a home. Usually choose the second option, but not by choice but because it is perhaps the most accessible, and also conditions us not to hire a mortgage.

Which many people think, and it is very certain is that the money spent on rent, but not recovered. Make an investment property is ideal but not always possible. But there is a mixed formula between the two, what is called the rental with purchase option. One option that is becoming increasingly popular lately in the real estate sector, combining the best of the two modalities of which we have spoken.

One of the advantages, and perhaps the main one is that some of the money they have paid during the time that we rent are deducted from the final purchase price, ie the price of the property, such as housing, the initial price will be less a part of what we already paying rent at the time of exercising the purchase. In many cases the owner thinks about selling your home and that is where the opportunity should be seized. The contract in this case is similar to the rental, in the sense that he enjoys rent the property in question for a certain time, although the property is not yours. The fundamental difference is that once the contract is the beneficiary has the option to exercise the purchase, or not, besides being able to extend the lease for an additional time.

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Many experts in psychology indicate that we are all social conditions , which are beliefs that are not always true or that they were in their time and no longer are, but that we continue advocating and may cost us much modification.

In fact there are so deeply rooted belief in ourselves that is required to modify the process and this process can take years to occur.

For example, in the Land was wealth was in the land suitable for cultivation, that was true in his time, today is not today in the industrial era the wealth not in land suitable for cultivation, in fact these are very low prices in different parts of the world.

A popular belief is that a house or home is an asset, as this is valued and increases its value, which is relative, a home can be an asset or a liabilitydepending on the return (positive or negative) of the same.

Indeed, assets are acquisitions that give us money , liabilities are purchases that take away our money.

Robert Kiyosaki says that a house is almost always a liability, though it is said that a house is an asset if we begin to think real estate is an asset for:

1. The bankers who make money through mortgages
2. The government levied taxes on homes

For the owner is usually an expense due to:

1. The cost of maintaining
2. The payment of taxes
3. The payment of dues for the mortgage

Obviously the question becomes whether a principal residence and you have another to rent or to improve it and sell it in the future, or even renting some rooms or floors of your principal residence, there would indeed be an asset, give us more money than it takes away. Read the rest of this entry →

Is it a smart idea for someone buying their first home, buy property in “Short Sales”? depends, first thing to consider is how the processed in a “Short Sale”

In this economy into recession, “Short Sale” is a term that most people recognize. A short sale is an agreement in which a bank holding the loan on a property allows the property is sold for less than the amount owed on the mortgage. A short sale property is being sold by a seller who has a valid financial hardship and have to sell. In other words, the property remains the owner. Selling a short sale is conditional on the bank that holds the mortgage to accept it.

Although it is possible to buy at a discount, there are disadvantages as well and you should be careful. An agent with experience in “Short Sales” can walk you through the process and make it as painless as possible. You need a knowledge broker to help identify your offer on a house will have a good chance of going to close and which not. Our job is to help buy the best home for you and your family, for the right price, in the right place with the right condition, in appropriate terms.

Despite the name, the short sale process is not always short – not always easy. Potential buyers should be patient and, above all, flexible in their expectations and actions. First, the property will probably be sold “as is”. You may need a lot of repair and updating. Remember, if the seller had the money to make these improvements, the house probably would not be a short sale in the first place! Also you can take a long time to close. Some short sales are more likely than others to close, and most will be a difficult and long process. Often more than one bank and several entities involved in each bank to approve a short sale. Again, an experienced agent can help find those who are likely to be prolonged for weeks and even months and be able to educate about how to do a short sale. Read the rest of this entry →