When you start the process of buying a home or any type of real estate, you'll no doubt hear the term earnest money deposit EMD. So what exactly is an EMD
An EMD becomes relevant when you are ready to make an offer on a property. In most states, your Real Estate Agent prepares the offer on your behalf. The offer usually takes the form of a written contract that is submitted to the seller by way of their agent.
In addition to the offer document, sellers typically expect an EMD. An EMD is a monetary deposit submitted via check to demonstrate to the seller that you are a serious buyer. In some regions of the country, only a photocopy of the check is submitted with the offer, and the original check is delivered to the appropriate entity if the offer is accepted. Ask your Real Estate Agent to clarify how deposits are handled in your region of the country.
The check is usually made out to an independent third- party such as a Title Company, Escrow Company, Real Estate Attorney or... [ Continue reading... ]
There are some myths about real estate agents, many of which are not so flattering. But when it comes down to it, real estate agents are not too out there, and there is a logical explanation to each misconception. Let's straighten out a couple myths and facts.
1: They have big hair.
Fact: Though occasionally real estate agents do have big hair, most are regular people who get up in the morning just like you do, and go to work just like you do. Many real estate agents, in fact, are going bald due to stress related hair loss. Same with the fancy dagger-shaped manicures; in actuality, many real estate agents have bitten their nails down to nubs.
2: Real Estate Agents drive luxury cars while talking on their cell phones.
Fact: Itâ??s true that real estate agents are often trying to do too many things at once, but they like to be careful about it. And though real estate agents would like to make a good impression on you, more often than not they drive Hondas and Toyotas and hope... [ Continue reading... ]
Real estate prices have risen globally in the last few years, risen by unprecedented levels.
Rising as much as 50-100% in the US, Ireland, UK, Australia. Even Dubai now allows foreign nationals to invest in real estate there. India to is following that trend. What works for India is the fact that the economy is booming and more and more people are moving to the job hubs. This creates a housing demand that far outstrips supply. In a lot of places IT folks are willing to pay a premium to buy and this has pushed the price further.
Foreign investment in real estate had grown rapidly in the past 12 months, following the partial relaxation of India's foreign direct investment regulations. Foreigners can now purchase commercial development projects (under construction) of more than 50,000 square metres or plotted residential developments with a minimum size of 10 hectares. Foreign investment vehicles were required to have a minimum capitalization of $US10 million ($13.5 million) for a... [ Continue reading... ]