Commercial Real Estate Closing Checklist

One of the main reasons that a commercial property transaction might fall through when it is near to closing is because one of the parties has forgotten an important aspect of the transaction that needs to be considered before the relevant documents can be signed.

With that in mind we have created a small checklist of things that you need to keep in mind when closing on a commercial real estate property, to make sure that you cover all of the bases.

Acquisition Documents

You need to ensure that all of the documents relating to the purchase are in place and ready. This includes all of the following:

• A signed letter of intent 

• Any and all drafts of the purchase contract 

• Any information relating to your legal counsel 

• Access agreements 

• Any client or portfolio manager authorisation that is required 

• A fully completed purchase contract, that will be delivered into escrow 

• Documentation for the initial cash deposits for the purchase 

• Arranging for any bank accounts required to be set up

Title Matters

Title and zoning issues are also a high priority, so make sure you have the following:

• You have selected a title company whom you can send the seller's title commitment to 

• Have an ALTA survey carried out and ensure you have the right documentation 

• Verify that all relevant leases and assets are in the seller's name

Tenant Issues

If you are buying an apartment building or any form of commercial property where other businesses may become tenants and lease out space, you need to have all of the following:

• A current certified rent roll 

• A review of all current leases and the related documentation for each. 

• Your legal counsel should look over these leases and compare to the current review 

• You need to look over all current tenant files 

• Resolve any outstanding issues regarding lease 

• Receive all reports relating to the tenants, including sales and receivables reports 

• Transfer all tenant security deposits 

• Review the tenant credit and payment history 

• Prepare and sign the tenant Estoppel Certificates 

• Final check on all documentation

Financial

The transfer of all relevant financial information is extremely important as well. This includes:

• Copies of any historical or proforma financial information 

• Copies of utility bills 

• Most recent tax statements 

• An expense list for all expenses currently operating under the property

Litigation

You will need to consider the possibility that there is any current action against the property or the existing owners and take that into consideration.

Insurance

Getting insurance for the building is crucial, so it is important to get a quote as early into the proceedings as possible. Some of this may be covered by the Property Management Agreement.

Physical Property Inspection

Before any transaction is completed a physical property inspection must be carried out by the buyer to ensure that they are getting everything that they expect from the property.

Final Closing Documentation

To complete the transaction all of the relevant financial and legal documentation must be completed and handed in on time and be completely accurate.

How to Sell Your House Fast Before Foreclosure

Being foreclosed on is not a pleasant event, and it can haunt your credit score and make it unbearably difficult or even impossible to get a mortgage loan over the next seven years. Seven years! To prevent this kind of credit catastrophe, one of your best options to consider is selling your home. In many situations though, you'll need to do this quickly in order to prevent being foreclosed on. While foreclosure is a process that can take a few months to a year to happen, selling a house can also be a bit of a lengthy process as well, so you should start thinking sooner rather than later, "I need to sell my house fast!" If foreclosure is coming and you know it, read on to minimize the damage to your financial future.

Deciding on Pricing

Since you'll want to be selling your home quickly, you likely won't be able to sit around waiting for the perfect buyer to appear to pay the price you think you deserve. In fact, it's much better for you to take a hit on the money you receive for your house instead of getting foreclosed on. This will require pricing your house aggressively, and definitely not overpricing it. To guarantee a fast sale, you'll want to entice potential buyers by thinking your house is a bargain. Look at the final sale prices of other similar properties in your neighborhood that have been sold recently and take 10 percent off of that average to arrive at your aggressive sale price.

If however you're in the unfortunate state of owing more on your house than it's worth, you'll have to take even more steps to complete what is known as a short sale. To do this, you'll have to work directly with your lender to get their acceptance of such a sale. While not having the money to make up the difference between the short sale and what you still owe on the house can also damage your credit, it still won't be as bad as the consequences of a foreclosure either.

Sell my House Fast!

Once you've priced your house, it's time to start marketing it. Get online and post your house on every listing website you can find. Even if cash is tight, hiring a professional photographer to take shots will drastically improve the reception you get from buyers looking online. You'll also want to change out cheaper things that can make a house look new. This includes paint, carpet, and other cosmetic changes that are cheap in nature but can make a huge difference in the overall feel of a house. By doing the legwork to market your house and price it right, you'll be able to sell your home quickly and avoid the horror of a foreclosure.

How Can Ready Mix Construction Materials Benefit The Builders?

Meaning of ready mix products is that they are readily available for use. For example, consider material used in the floor and wall plastering processes. It is mixed at the construction site using raw materials like cement, sand and water by the workers. But in case of the ready mix plaster, all these ingredients are premixed in specific quantities by the machines in a production plant. One can use these pre-mix plasters instantly by just mixing water. Hence, we can say that ready mix products are the one that can be used instantly to reduce efforts and time taken for the process. This is the primary reason why many builders today are using such materials in their projects. These products will offer them many benefits.

Reduced Efforts: The use of ready mix products minimizes efforts of both the builders as well as the laborers. Builders will now have to search for limited manpower for their projects which makes their task much easier. Moreover, laborers will not have to do the entire A to Z process to create the construction materials at the site because they are now readily available.

More Savings: Using ready mix products will not require much labor at the construction site. Builders can now hire only a few laborers for the cause and save up their labor costs. Not only in terms of cost, but builders can also save up their time which otherwise would be required in finding and hiring the laborers for their project.

Lesser Process Start up & Project Completion Time:

When a builder uses ready mix products in his construction venture, he can definitely complete his project in much lesser time because these products will greatly reduce the process start-up time.

Finest Quality

Such products are mechanically mixed and hence the consistency is assured. Builders can accommodate ready mix products for consistent quality in their construction projects.

One of the best examples of such ready mix products gaining recognition in construction industry today is a polymer based dry mix plaster which the builders today are using to speed up the process of plastering in their construction projects. This is a kind of ready mix dry plaster which comes mechanically mixed with ingredients like cement, dust-free sand, polymers and selected additives which make up for a good plastering material. It can be used instantly on the site by mixing appropriate quantity of water. So now builders can say "no" to the lengthy plaster mixing procedures and save up time in their construction projects.

Similarly even ready-to-use polymer based tile adhesives are available in the market these days. Cement, sand and chemicals usually go into manufacturing these adhesive products that enable tight bonding of tiles to the substrate. Generally used for wall and floor tiling processes these adhesives are known to ensure quality tiles fitting process with excellent bonding and low shrinkage features. Application of such readily available tiles fitting adhesives enables faster and efficient tiles fitting, thereby saving up lot of construction time for the builders to employ on other important processes in the project.

Hence, with advantages of ready mix products, they certainly cannot be neglected. Incorporating them in construction projects would definitely be a good job for the builders.

For more details visit - *http://www.enticeworld.in*

The company, Entice Construction is a leading construction materials supplying firm based in Ahmedabad. Vasant Mungara is managing partner of Entice Construction, Rajkot branch. He manages all the activities of the company and materials supply work in Rajkot area. Being an enthusiast, he constantly keeps learning of various innovations going on in construction field and is also a keen blogger who likes sharing his intensive knowledge with learners through his writings.

After Foreclosure, What's Next?

Few things in life are more difficult than dealing with the process of foreclosure. Neither party wants to have to engage in a foreclosure but lenders have to protect their investment in any way they can so sometimes it is an inevitability if the mortgage isn't getting paid in the agreed fashion.

So what comes after foreclosure? There are a number of different outcomes to the process, some of which are surprisingly positive considering the circumstances. This guide will give you a rough idea of what to expect.

Paying Off The Foreclosure Note

In the absolute best case scenario the homeowner will be able to pay off the foreclosure note before the process gets any further. This is the ideal solution for both parties as it allows the homeowner to keep the house while also satisfying the lender in regards to whether they think the mortgage will be paid properly.

Be wary of paying of this debt through options such as bank loans or other lending services. Homeowners may wind up with a loan that is even more difficult to pay as a result of the measures they take to pay off the foreclosure note.

Selling the Home

If it simply isn't feasible for you to pay off the debt the option to sell the home always remains. This can be done by the seller or by the bank, should they take possession of the property.

This is a tricky option as there is a lot to consider before making the sale yourself. If the homeowner still owes more on the mortgage than they have paid then they will still be liable for that debt unless they can convince the mortgage lender to take a lower payment.

Furthermore, if the sale of the house doesn't satisfy the debt for some other reason the bank will continue chasing the former homeowner for the rest of the money, with the remaining debt continuing to gain interest in many cases.

In the case of auctioning the house, the bank will take control of the property and will look to sell it to the highest bidder. They will then get all of the deeds and everything else relating to the home. In some cases it may be possible to allow somebody to purchase the property and rent it from them, but this usually relies on personal negotiation and the ability to prove that you would be able to pay the rent on time.

Bankruptcy

Bankruptcy is the most unpleasant option on the list but it can be used when the foreclosure process has been started. By declaring bankruptcy you can stall a foreclosure by months, which may give you the time to save up enough money to pay off the debt and keep the house.

Bear in mind that declaring bankruptcy can have devastating effects on your personal and business life. It will become very difficult to get another loan and there is no guarantee that you will be able to save the property. This should be a last resort and even then it may be wiser to consider selling the house.

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Thank you for reading.

What to Look For When Searching for Foreclosed Homes for Sale Online

Thousands of homes go into foreclosure in the United States every single year, which means that there is currently a fairly healthy market for those who want to purchase such properties, either with a view to living in them and to sell them on for a profit at a later date.

Before you can get started on that though, you are going to need to know where to look and what you should be looking for before you commit any of your cash to a sale. Here we offer some advice on buying foreclosed homes using the internet.

Look To The Banks

Your first port of call should be the websites of larger banks. As many of them act as loan providers for the people who previously owned the home, they will also have an interest in getting the home sold again once it has been foreclosed on.

As such, many institutions, like Bank of America, maintain their own property listings that highlight homes that are currently available for purchase. This also acts as one of the more reliable places to look, as you will be getting the property straight from the people who foreclosed on it, rather than having to go through a third party to find out about it. Further properties can also be found on the Fannie Mae and Freddie Mac websites.

The Stage Of Foreclosure

If you are looking for a sure thing out of your purchase then it may be wise to avoid any properties that are in the early stages of foreclosure. After all, it is entirely possible that the current owners may be able to pull themselves out of the fire and raise enough funds to keep the property.

As such, you should always check the status of any property that catches you eye, so that you can be sure that it is completely available. Few things are worse for a property buyer than setting your heart on something, only to have the purchase fall through at the last minute.

The Price

This should be an obvious point, but it is still one that bears repeating nonetheless. After all, any property that is in foreclosure is there because somebody was unable to afford the costs associated with that house.

Make sure that the price listed from the property is within your budget before you even think about putting a bid in. It may be worth avoiding the property altogether if the price reaches the upper limits of what you can afford, as any such properties will require some extra work on them after purchase. Speaking of which...

Find Out What's Wrong

Very few properties are perfect and you are well within your rights to have an inspection carried out on any foreclosed property that catches your eye. Don't simply trust the online listings that you read and keep an eye out for any suspicious language that is being used. If it seems like too many potential negatives are being spun into positives, then this is likely the case. If nothing else, such a situation will work to your advantage come time for negotiations.

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What Appliances Do I Own After a Foreclosure?

Let us say the unfortunate has happened to you and despite all of your efforts your home is in foreclosure. What are your rights as far as what you are allowed to take with you? Can you take all of the appliances? Can you take lighting fixtures or perhaps fancy sink and faucet sets you paid for yourself? We will attempt to shed some light on this topic and help you determine what you are and are not permitted to take when your home is foreclosed on.

The answers to these questions are not very cut and dried. What you are entitled to take with you largely depends upon the laws in your jurisdiction. Some things are no-brainers; such as a toilet is permanently fixed in the home, therefore you are NOT allowed to take it. With temporary improvements a homeowner makes; such as installing a chandelier or buying a fancy shower curtain, those items may be removed as long as they are replaced. But items like the majority of your appliances are normally handled under the applicable local laws as they relate to home foreclosures. If you are currently in foreclosure, it would be wise for you to consult an attorney or your local government official for some prudent advice on these matters. Otherwise you might find yourself facing legal difficulties.

A good rule of thumb to go by here is that you must lawfully determine what your personal property is and what belongs to the home. This will make all the difference in the world. Anything that is legally your personal property cannot be removed from your possession at any time; even after foreclosure. Anybody who violates this policy is breaking the law. HOWEVER; if it is a fixture on the inside or outside of the home that legally belongs to the home, you ARE NOT allowed to take with you. If you persist in doing that then YOU are the one who will be in violation of the law. So first, you need to know what the laws in your jurisdiction are. Then second, you must make a physical list of what is yours and what belongs to the home. Again; we strongly urge you to seek legal counsel on these matters before you have a problem.

It ought to be noted by any homeowners who are now facing foreclosure that the applicable laws are not as lenient as they used to be. This means that you may indeed face criminal charges if you were foreclosed upon and you proceed to remove or damage any appliances or fixtures belonging to the home. Not only should you at this point in your foreclosure hire an attorney; but you should insist he contact the agent who represents the mortgage bank. This is in order to find out what you legally can and cannot take from the premises. The rules may additionally apply to items on the outside of the home such as fences, landscaping fixtures, or even a toolshed. This might seem trivial to you but it can become a HUGE issue if it is not handled properly. It is far better to be safe than sorry.

10 Best Ways To Curb Your Sweet Tooth

Many of us enjoy sweet foods, and it is natural to do so. Nowadays, there are sweets available everywhere you go, and it can be hard to resist, and overwhelming to have to say no all the time. Here are some ideas to help you curb your sweet tooth once and for all.

1. Choose natural sweets. Sweet foods are what we prefer as babies, and sweet foods are not all bad. Choose naturally sweet food such as fresh fruits, so you will also get a good dose of vitamins, minerals and fiber while you enjoy them.

2. Clean up your environment. It is almost impossible to kick sugar cravings when there is junk food everywhere you look. Choose not to keep sweets in your home and it will be easier to avoid them altogether.

3. Exercise when you feel a craving for sweets coming on. Exercise naturally balances blood sugar, which will help eliminate the cravings you may feel when your blood sugar is low. Any exercise is great, and even a daily brisk walk can do wonders for helping control your sweet tooth.

4. Cut it out completely. Consuming sugar can give you even stronger cravings for it. If you want to get rid of this constant temptation, it is much easier to get it out of your life completely.

5. Don't let yourself get too hungry. If you have let yourself go too long in between meals and your blood sugar is dropping, you will crave the quick fix that sugar brings. Avoid this by eating regular meals which include each of the major food groups.

6. Mix sweets with healthy foods. If you are craving something like chocolate, melt it and dip apples or a banana in it. This way you will satisfy your sweet tooth and fill your stomach in a nutritious manner at the same time, which is a perfect combination for relieving a craving.

7. Find an alternate way to reward yourself. Sweets are something we associate with rewards. If you feel as though you deserve a reward for any reason, find a better way to give this to yourself. It could be anything from getting a haircut or manicure, to buying yourself a new book you've been wanting.

8. Take a drink of water. Often when you think you are craving sweets, you are actually thirsty. When you want to consume sugar, reach for a large glass of water instead, and see if you still desire sweets by the time you are finished.

9. Use essential oils. There are a number of essential oils such as dill and pink grapefruit which are believed to help curb your sweet cravings when inhaled or applied externally. Be sure to choose pure, high quality oils and to consult with a professional who has experience working with them.

10. Get plenty of rest. When we allow our bodies to get overtired and run down, we will begin to crave foods that are not wholesome. Kick your sugar cravings by getting a sufficient amount of sleep every night.

Having a sweet tooth can be a frustrating situation, as it is difficult to conquer once it gets hold of you. However, there are many ways you can get rid of this frustration once and for all. Kick sugar cravings to the curb with these 10 helpful tips.

Russell (Rusty) Hart is the founder of the Health, Fitness & Sport Club, a website devoted to the promotion of health, fitness and wellness. Should this subject matter be of interest you can visit the HF & S Club home site where you'll find over 1,300 quality posts with new posts being published daily. To quickly access those that are of interest you can select any of 20 Categories broken down by over 260 Sub-Categories for easy access.