Posts tagged ‘property’

How the web has revolutionised the housing market

By imal, 25 October, 2011, No Comment

The internet has had a profound impact on the way in which many people lead their lives. Indeed, from working environments to shopping experiences, entertainment and much more, the effects of the global communications network are pervasive. This also applies to the housing sector: now it is possible for consumers to search for properties, find estate agents, and much more using cyberspace.

Meanwhile, another way in which the web has affected the way we shop for products and services is the presence of user reviews. While everything from hotels to energy providers are subject to consumer reviews, there has previously been no way for individuals to obtain objective and unbiased accounts of how well estate agents perform.

Whether you are seeking to sell your property or rent it out, this could leave you in a somewhat vulnerable position. After all, while the majority of estate agents exhibit the upmost in professionalism, there are some that fall short of such standards.

The new estate agent review site, MeetMyAgent.co.uk, aims to once again revolutionise the way in which we use the web. By making use of the estate agent reviews now available online, consumers can therefore ensure they choose the most suitable agent for them. Not only does this offer peace of mind, but it can ultimately lead to better results (and more profit!) for homeowners.

So, taking advantage of the internet to peruse reviews really is the savvy approach to modern house renting and selling!

Vandalism and Commercial Property insurance in NY

By imal, 21 September, 2011, No Comment

Is your business situated on a main road or other highly visible location? Your premises may be at additional risk of vandalism. Vandalism includes graffiti, smashing windows and breaking signs attached to your business premises and can potentially cost business owners hundreds of thousands of dollars a year. As well as making sure you have comprehensive business insurance, there are a few ways you can try to minimize the damage caused to your business by vandalism:

•   Improve lighting around your premises
•   Install perimeter fencing if possible
•   Use graffiti resistant paint on the outside of buildings
•   Install video surveillance
•   Place metal grilles and bars in windows
•   Cover lights with protective coverings
•   Use scratch resistant glass to minimize damage
If graffiti or vandalism is a common problem in your area you may wish to co-ordinate your efforts with other community business members and law enforcement agents. A neighborhood response could be a lot more effective than measures implemented by a single business alone and may often be targeted at specific groups of local offenders.

Vandalism may be caused by underlying community problems such as low employment or poverty. Addressing these issues could help reduce vandalism rates and there may be less chance of the need to make a claim for vandalism on your NY property insurance.

A brief about foreclosure

By imal, 4 April, 2010, No Comment

Foreclosure is the legal and professional proceeding in which a mortgagee, or other lien holder, usually a lender, obtains a court ordered termination of a mortgagor’s equitable right of redemption. Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lien holders can also foreclose the owner’s right of redemption for other debts, such as for overdue taxes, unpaid contractors’ bills or overdue homeowners’ association dues or assessments.

The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a “mortgage” or “deed of trust”. Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that “the lender has foreclosed its mortgage or lien”. If the promissory note was made with a recourse clause then if the sale does not bring enough to pay the existing balance of principal and fees the mortgagee can file a claim for a deficiency judgment. There are websites those provide foreclosure listing, and you can find Free Foreclosures websites, too. This is called Real Estate Owned Foreclosures, and you might get a nice price by looking for it in Free REO foreclosures listing websites.