Monthly Archives: November 2016

Real Estate ERP And Ways To Get The Most Suitable One

ERP, enterprise resource planning, is business management software which allows organizations to use systems with integrated applications to manage businesses and to automate different functions of the back office. These functions can be related to human resources, services and technology. ERP software integrates all operational facets including development, product planning, manufacturing, sales and marketing all in one database, user interface and application.

ERP software for real estate makes management of properties easy for managers, owners and investors. There is so much that goes into the management process of real estates and the right system helps in making things a lot easier. Software tools are so many in the market today that it can be overwhelming to choose the most suitable for you. But when you ask yourself a few questions that matter making the right decision should not be that hard to do.

How will the ERP solution help you grow profits?

Even in real estate, you will be looking for ways to maximize profits and this means that you should choose a real estate ERP that has what it takes to take your business a notch higher. Good management software should be able to handle everything from ongoing maintenance schedules to tracking payment information of tenants and employee performance to ensure the ash flow remains steady. The software you settle for should also help in spotting trends that could be having negative effects on your business so you can create strategies to address the underlying issues.

Will the ERP system save time?

Data is critical in real estate yet it can be really tedious to handle without the right tools. When looking for a good real estate ERP solution, it is important that you choose one that will save you time when managing your data. A good solution should provide a consistent location for all the data and at the same time make it possible for you to gain access to the data at any given time and place. You should also be in a position to customize data entry so you spend less time getting things done when they need to be done.

Does it require any kind of support and training?

Getting new software for your business will always come with a transition period. This does not however mean that the period should be too long either. A good platform will come with a user interface that is friendly enough to make the employee transition pass quickly and as conveniently as possible so you do not waste time unnecessarily. Choose a real estate ERP that is easy to use so there is reduced time when tracking, managing and changing data as appropriate. Ongoing technical support and training is reasonable, but it should not rob your business off the positive impacts you expected when you got the software in the first place.

It would also be helpful to consider what data analysis and reports you can create using your ERP management software so you can choose a solution that fits your ongoing data requirements.

Real estate ERP offers lots of flexibility and convenience running a property business. Choose the best solution from the best company in Dubai to enjoy the many benefits of having such a system in place.

Mistakes You Should Avoid When Buy New Home

When you are looking for buying a property, even a tiny little mistake can cost you a lot. Your next house is going to be your home, so it very important that you avoid any such mistake that will later make you regret.

When talked to estate experts about this problem, they came up with some most common mistakes that you can avoid before purchasing a new house.

No Proper Research

There is a term called, a comparative market analysis that every person buying a new property must be aware of. It means a detailed research about the current scenario of the estate market. This will help you get all the information on the current land rates and property value.

This is a very important step if you are about to buy a house. Having a lack of knowledge about the market can bring major loss to you. It is advisable to inspect as many as properties that you can and then make a decision. Also, the property and land rates keep changing, so set a time frame for the property selection process.

Selling Agents

It is very important that you understand that the estate agents work for the buyer and not the seller. They know just the right tactics to persuade you. Trusting them blindly is something you must never do. Rather than rely on the market data that you have researched and gathered and keep the selling agents as just advisors.

You can rather ask the agent questions like what are the other offers on this property so far or have there been any recent property selling around the locality with an evidence. Be a smart buyer and don’t let the agent trick you in making a decision you will later regret.
Never Blow the Budget

If you are planning to buy a house, you have been setting your budget since a long time. Obviously, the budget must have been set according to your financial condition and other logics, so don’t let it blow due to emotions.

The home buyer must never let emotions come into his financial equation. Most of the times such decisions later end up into a huge financial mistake.

Hidden and Added Costs

Buying a house is not a simple task. There are a lot of payments and costs that you need to be aware of to make an informed decision such as homeowners insurance, property taxes or closing costs. In most of the cases, home buyers do the mistake of forgetting about maintenance costs.
With all these additional costs and payments, your current budget can dramatically increase without your knowledge. It is very important that you have all the details about these costs and talk to the owner prior making any decision. If you are looking for houses for sale in SS8, there are a lot of options available for you.

Home Inspection

A home inspection is very much important before you buy a house. Many times it happens that the most beautiful houses later turns into a nightmare. There may be several issues in a house like eroding foundation, lack of insulation or leaky pipes which can only be detected by a house inspection.

You need to hire a professional home inspector to perform this job as they know how a house must be thoroughly inspected. They can detect even the most minor defects that can later turn massive. The cost of inspection is mostly covered by the property seller. In case a defect is found, the repair charges can be negotiated between the seller and the purchaser.

Listening to everyone

When it comes to estate buying, everyone will have an opinion whether it is family, friends or colleagues. You can take an advice from everyone you feel like it but always trust your research and the data collected about the property. Listening to too many people may confuse you and you may end up making wrong decisions.

Home buying isn’t as easy as it seems. It requires a thorough research and collection of relevant data. Have a professional consult and do not rush into making a decision that you may later regret.

Godrej Origins vikhroli In mumbai

Godrej Origins is the most recent private venture in Mumbai by Godrej Properties, a land organization that is outstanding for its brilliant manifestations in 12 urban communities all through the nation. Stretched out over rich sections of land of land, this improvement is Phase-4 of The Tree by Godrej Properties that offers premium extravagance and solace with an exquisite touch of Mother Nature that takes you back to your foundations. With complex private flats and rich loft sizes, extravagance space is the thing that you can expect in each condo.

Godrej Origins Mumbai is an extraordinary improvement that makes an immaculate mix of common and man-made extravagances for the high-life you have for the longest time been itching to live. The lofts are choice, created perfectly and contain top of the line furniture and fittings, incomparable entryways and rich windows giving stunning city sees, sumptuous kitchens, superb deck and significantly more. The outer pleasantries at this advancement are really divine and will dependably help you restore yourself every last day. Have a decent time at the diverse amusement offices, invest energy with your friends and family, take some time out for yourself, feel free and experience the excellence of nature in the lovely scene gardens and boundless expanses, and so on., there is something energizing for you and each individual from your family at this luxurious advancement.

Situated at Vikhroli, a delightful suburb in Central Mumbai, Godrej Origins Vikhroli comes in closeness to some of your ordinary and crisis places like schools, universities, shopping centers, strip malls, bistros, clubs, eateries, showrooms, medicinal focuses, healing centers, banks, ATMs and that’s just the beginning.

The Godrej Origins cost is mind blowing and absolutely moderate. There is a flat to meet every single spending plan and taste at this advancement. You can cheerfully browse distinctive installment arranges accessible and you can likewise take-up simple home credits at low loan fees, NRI administrations and then some.

Ways to Use Seller Financing the Right Way

We are here to share some insights and details about how seller financing works, the risks involved, and the ways that it can work for you!

The main benefit to seller financing is that the agreement is almost entirely up to the parties – the seller and buyer. Banks and credit unions aren’t involved in the decision making or the planning. Here are 3 specific break downs for seller financing, and how it works:

Seller Financing: Creative Real Estate Agreements

Seller financing is when the seller agrees to finance the deal for the buyer. This is different than a rent to own agreement. Unlike the rent to own agreement, seller financing deals involve specific long-term plans, but has almost complete freedom in the requirements. The seller acts as the bank, requiring a monthly payment for the property. However, the buyer technically owns the property, once the agreement is signed. There are a variety of perks with this type of deal. Here are a few:

1. Minimal down-payment

Any other form of financing would require a percentage of the cost as a down payment. If the buyer can’t pay a large down payment, seller financing allows them to buy a house they otherwise couldn’t afford. The down-payment still does what it needs to do – it gives the seller some money upfront, and it ensures the agreement between the two parties.

2. Customizable monthly payments

Based on the down-payment, the buyer and seller can come to their own terms on the monthly payment. Since the seller is acting as the bank, the mortgage can be on terms the buyer and seller are okay with.

3. Purchase doesn’t affect your credit score

Whether the buyer plans to live in this house for decades or not, this deal will not affect later deals. Since there isn’t a bank involved in this process, the buyer and seller won’t be affected by it. So, as long as the deal goes okay, future purchases will not be based on this deal.

4. Flexibility in the purchase timeline

Since the bank is not involved, the buyer and seller have the freedom to create a full plan. There are some technicalities that will take time, but overall, the two parties can determine the sale and move-in dates.

5. Available options that banks can’t offer

Overall, if the buyer and seller can find common terms, the deal can be as unique and creative as the two want. The bank has a lot of formalities to abide by, that individual sellers and buyers don’t have to even consider. This can even include land contracts, lease-options, and long-term financing.

Land Contract: Why and How this Contract Works for Both Parties

This type of deal involves only the two parties, guaranteeing that fees and money won’t go to a realtor, loan officer, etc. A land contract is this agreement between the buyer and seller. The contract states that the owner is selling the home to the seller, and is acting as the bank – i.e. receiving payments towards a mortgage. The other detail states that the deed and title stay in the hands of the owner until the mortgage is paid off. This statement is a safety net for the seller, in case the buyer is unable to fulfill the payment requirements.

· A Land Contract’s Effect on the Seller

This is typically where the risk comes into play for seller financing. If for some reason the buyer is unable to make payment, this could cause foreclosure for both the seller and the buyer. Typically, this doesn’t happen. Unfortunately, there is more risk involved for the seller in this situation than the buyer. A foreclosure is the only way a seller financing agreement could affect credit scores. If you are the seller, make sure you have everything in writing and are secure enough in your own finances to handle any unexpected disruptions.

· A Land Contract’s Effect on the Buyer

The seller financing plan is extremely beneficial for a buyer, especially if the buyer has been turned away by the banks. The buyer gets to act as the homeowner, while making reasonable payments for years. As long as the seller works well with the buyer, the buyer shouldn’t have any issues. If you are the buyer and interested in upgrading the property, or making minor changes to the property, make sure it’s in the agreement. As a buyer, you don’t technically own the house enough to make changes without approval of the seller.

Lease-Option: How it Compares to Seller Financing

Most of us have heard of a lease-option. The lease-option looks similar to seller financing, but actually affects the buyer and seller differently. The lease-option makes the seller a landlord, and the potential buyer a renter. This is because the lease-option gives the tenant the option to buy the house at the end of the agreement, but is not part of the initial agreement. There are of course pros and cons to this option as well, so let’s compare the lease-option to seller financing:

· How does this affect the seller?

When leasing to sell, the seller still technically owns the property. This means, the seller is still paying the taxes and other expenses for the property. So, the seller is spending more money on this property. However, it is a safer agreement in terms of long-term. If you are the seller, and the potential buyer can’t make payments at some point, you are able to evict the tenant versus facing foreclosure.

· How does this work for the potential buyer?

The tenant is a potential buyer, who can still change his or her mind. There is more freedom and less commitment for the potential buyer in a lease-option. However, the set up does feel a lot like you’re still just paying rent, and not owning the property.

The final verdict for your options with seller financing is specific to what you’re looking for. There are of course pros and cons to both sides. By assessing your short and long term goals, you should be able to come to a decision and agreement. Regardless, you will see more money in your own pocket when not using a bank.