Tidbits of Kolkata Properties

Kolkata, the erstwhile capital of British India is the most important city of eastern India now. It is one of the most populous metros in the country and is the nerve centre of all economic and commercial activities in east India. The city of joy has a very rich culture. The amazing mix of the old and the new can be still found here. The Kolkata properties market is going through a period of growth and the growth curve is going to go further up as per expectations.

The city has one of the robust networks of connectivity, local buses, auto-rickshaws, suburban train services, the circular railway service, the oldest metro service in India and the country’s only city operating the heritage tram services. As far as national and international connectivity is concerned it has eastern India’s largest international airport- Netaji Subhas Chandra Bose International airport and three terminal railway stations – Howrah, Sealdah and Kolkata. Howrah Station serves as headquarter for two zones of the Indian railways- Eastern and South-eastern railway. Maitri Express – the train from India to Bangladesh runs from Kolkata station to Dhaka. Due to the presence of the highways NH2- the Delhi road and NH6- the Bombay road, the city is a part of the golden quadrilateral project – the national highway network which covers all the major cities of India. NH-34, the road to Siliguri is also there. Several arterial roads form a criss cross network through the city. The IT companies and several multinational corporations have started their office in Kolkata. Sector 5 of Salt Lake in Kolkata has become an IT hub. Several infrastructure projects are also going on; especially the broadening of the eastern metropolitan Bypass to make it a four lane road is going to be a major development. All of this has made buying an apartment having 2 BHK in Kolkata a very good option.

While buying a 2 BHK in Kolkata there are other factors also which the buyers need to know. There are various parts of the city where you can look out for Kolkata properties. The northern part of the city is most active and provides a good opportunity to buy an affordable property. The eastern and the western parts of the city are witnessing the development of luxurious projects. While south Kolkata has both affordable and luxurious projects. Like south Kolkata, areas of Rajarhat also have the requirements for low, mid and high income groups.

If you looking for a 2 BHK in Kolkata, then Primarc Allure is definitely a project that should be considered. It is a premium residential project which has been newly launched and is located at Tangra in central Kolkata. The project offers a truly world class and well designed residential units to the residents. The amenities offered include a well-equipped gymnasium, swimming pool, kids’ play areas, power backup provision, treated water supply, CCTV/video surveillance, 24×7 security services, intercom facility, conference room, solar lighting, normal park/central garden. The project is well-connected to the Sealdah Junction Railway Station, Mullick Bazar Bus stop, Esplanade Metro Station. Major business hubs of the city including Tangra Industrial Estate, Kasba Industrial Estate, Infinity Think Tank, and Shilpangan-Light Engineering Park are located in close proximity to the project. Health care is looked after by prominent hospitals like the Columbia Asia Hospital, Amri Hospital, Apollo Gleneagles Hospital, Desun Hospital, Mission of Mercy Hospital, and Assembly of God Church Hospital. Shopping and dining needs of the residents are catered by hotels and clubs such as, ITC Sonar, The Gateway Hotel EM Bypass, Tatvam Residency, Hyatt Regency, Peerless Inn and shopping malls and centers like Downtown Mall, Mani Square, Quest Mall, New Market, and Simpark Mall. The educational institutes which are close to the project are St. James School, Bharatiya Vidya Bhavan, St. Anthony’s High School, St. Joseph’s College, Don Bosco Park Circus, and Patha Bhavan.

What Are Some Prominent Cities for Investing in Property in India?

Buying property in India has become a lucrative business opportunity for many. Although such is the case in developed cities, many are looking forward to investing in residential properties located in upcoming or Tier 2 cities. There are many advantages of investing in cities, which are yet to become industrialized, or expand into sizes similar to those of Tier 1 cities. Before you buy a property in India, it is important to realize the benefits of a low investment price, and a high resale value. All regions of India are filled with destinations property buyers love, but you need a heads up on which cities are doing well.

North India

North India is filled with industrial cities. With an influx of population from various Indian cities, some areas have benefitted from a rise in population. And thus, property prices have been on the rise for the last few years. Many cities in North India have also been among the ones that are recognized as promising Tier 2 cities. One of them is Panipat – with an exciting history, this Haryanvi city is a great investment option for people interested in resale and rental gains.

South India

Capital cities in South Indian states have long been known for developments par excellence in the last few decades. Once a region filled with small towns, it has become one of the biggest destinations for investors seeking property in India. South India is also known for receiving a distinct thrust in population growth. This has caused rental planners and homebuyers to find excellent security for their capital.

West India

Although many cities in western India are known for international connections as coastal cities from ancient times, many inland cities in Maharashtra and Gujarat are now gaining popularity as small towns with immense prospects of turning into mega cities within the next 5-7 years.

East India

Many cities such as in the upper areas of West Bengal, eastern parts of Madhya Pradesh and industrial townships of Orissa are becoming popular for property investors. These cities are typically high-potential low-priced places that can yield great value for the average investor.

Keep in mind that many major cities such as Bombay, New Delhi and the like hold great property value. However, most experts believe that they have reached high point saturation in the price levels. Although you may not lose value by investing in property in India, such cities may be slow in property value appreciation.

Suriname Real Estate Offers Limited, Selective Scope for International Investments

It is the only nation outside Europe with Dutch as the official language, while a local Creole language variation is also widely spoken. The country is truly multi-ethnic, with the other major languages prevalent in Suriname being Hindi, Javanese, English, Spanish, Portuguese, Chinese, and other local tribal languages. Bauxite mining is the major contributor to the economy, forming 15% of the GDP and providing about 70% of its export earnings. Real estate in Suriname is yet to get adequate international exposure.

Tourism, particularly ecotourism, is gaining ground in Suriname due to the exceptional biodiversity in this small nation. About 30% of the land area of the country is protected as reserve areas by the law of Suriname. This leaves very little scope for active international investment in this nation, with the number of Suriname for sale and Suriname rentals offered in the market remaining quite limited.

In spite of this inadequacy, Suriname market provides variety of options for locals as well as international real estate investors. Individual homes and condos for sale or rent, commercial plots and properties, and land parcels are available at affordable rates across the country. The coastal properties are the other major Suriname listings that could be seriously considered. These coastal offerings are available from $650,000 per hectare. The major advantage of these properties is that they are very near to the capital city of Paramaribo.

However, the excessive money-laundering operations going on in Suriname by narcotics dealers and even politicians had made the government tighten monetary laws. All amounts in excess of $10,000 that enter or leave Suriname should be reported to the authorities by the banks and other money transfer agents. Transactions in excess of $10,000 are possible only after getting permission from various government departments.

This makes it difficult for international investors to purchase properties in of Suriname. The prospects of value addition in the next few years are not very clear. When the property is finally sold, taking the money out of Suriname is also a difficult process. Due to the various reasons listed above, in Suriname is languishing without much foreign investment. Only the illegal money launderers and narcotic smugglers are investing their unlawful earnings in hotels, resorts, casinos, and other Suriname for sale and Suriname rentals. It could take a few years for the situation to change to enable international real estate investors to benefit from Suriname real estate listings.

Morocco Scales New Heights to Attract Property Investors

Casting its spell on countless generations, Westerners have always had a certain fascination for Morocco. For Winston Churchill it was the sunset over the snow-capped Atlas Mountains; for boho musicians such as Jimi Hendrix and Cat Stephens it was the smoke-ringed “Marrakech Express” days; today, it’s the exotic mix of high-style real estate projects that have second-homers and property investors well and truly smitten. Changes to the law in 2001 allowing foreign investors to take the proceeds of property sales out of the country signalled a step-change in the country’s real estate fortunes, backed by a newly-formed government Promotion Unit set up to channel inward investment.

With £2 billion in foreign direct investment (FDI) in 2007, the country’s economy is in equally rude health. Key infrastructure projects including six new purpose-built coastal resorts (part of a new beachside playground that will run from Saidia near the Algerian border, down to Plage Blanche, south of Essaouira), regional airport expansion and a port in Tangiers, are all integral parts of the government’s Plan d’Azur Vision to boost tourist numbers. “Property prices per square metre on new-build have doubled in the past three years in hotspots like Marrakech and Tangiers,” explains Ben Jones of Saffron Villas, “but that’s to be expected. More critical to investor confidence is the government’s measured approach to boom times, with a secure land registration system and a working blueprint for sustainable coastal development.”

Coastal Developments

Bolstering first-growth sales in city Meccas like Marrakech and Tangiers, real estate investment opportunities are now mushrooming along the Mediterranean and the Atlantic coasts, with the first of the Plan d’Azur developments, Mediterranean Saidia, attracting a steady ‘foot-flow’ of customers.

Located on a stunning six-mile stretch of coastline and a favoured weekend retreat for well-heeled Moroccans, Mediterranean Saidia will cover seven million square metres in total and sport three golf courses, a 750-berth marina and several five-star hotels. Drawing interest from the golfing fraternity are the fully furnished luxury apartments and fairway penthouses in the gated community of The Greens, with studios selling for £113,000 rising to £133,000 for a two-bedroom penthouse with Saffron Villas. Kitted out to a high standard, units come complete with branded white goods, plasma screens and fully fitted kitchens. “Residents also get a 50 per cent reduction in golf membership for all three courses,” adds Jones.

An attractive alternative with Property Borders is Villas du Soleil. Boasting an idyllic location, just minutes from the beach, the development will have a large lagoon style swimming pool, tennis courts, gymnasium and indoor heated pool. The 76 Moorish design villas with private pools start from £251,000 for a two-bedroom unit rising to £371,000 for a three-bedroom unit with garden and solarium.

Ourika Valley

Arguably the country’s most ambitious residential tourism project to date is Oukaimeden ski resort in the Atlas Mountains. Snow-sure at over 3,250 metres, yet only an hour’s drive from downtown Marrakech, the station’s $2 billion “luxury” makeover by Emirates-based developer Emaar PJSC, will combine recreation, entertainment and real estate components phase-built across the High Atlas scenic valley bowl. Scheduled to complete in 2010, Emaar’s master plan promises low-density and an absence of high-rise, music to the ears of property agent and developer Nicky Kerman of Marrakvillas. “The resort has been popular with wealthy Moroccans for years,” he says, “its close proximity to Marrakech and its quality off-piste and cross-country options draw a loyal following, but its full potential has never been exploited. The ski season is reliable running from January to March, while plans to upgrade mountain biking, trekking and climbing amenities in the summer months will also maintain steady visitor numbers throughout the year.”

Catching the wave of an early boom, several upscale developments are springing up in the surrounding Ourika Valley; the vineyard-speckled mountain foothills offering the best of both worlds – close enough to the hustle and bustle of Marrakech, yet just a 30-minute transfer to the slopes. “The area has huge potential,” adds Louise Hillcoat. “Planning guidelines, however, are stringent: no building can exceed three storeys and build density on developments can be no more than 60 per cent.”

Company director, Peter Roberts from Ripon in Yorkshire fell in love with the area when he took his wife Caro on a retreat to the mountains to celebrate her 50th birthday. The couple now own a stunning four-bedroom, architect-designed home at Bab Adrar D’Atlas, a former eight-hectare farm estate set back from the valley. “We love it here,” adds Roberts. “It suits buyers who prefer to be away from tourist hordes, yet you’re only 25 minutes from Marrakech.” Three-bedroom villas at Bab Adrar start from £555,000 rising to £945,000 for a five-bedroom home. No two properties are the same, each sporting its own individual design, with vast gardens and covered outdoor living areas. Interiors boast bespoke artisan features such as sculpted plasterwork and polished tadelakt (china clay) walls. Owners not out and about exploring the surrounding valleys and Berber villages can make the most of the resort’s hammam spa, gym and treatment rooms with a golf practice area currently being built. “This is undoubtedly one of the best spots to build and buy,” adds Roberts. “A day’s skiing or a leisurely stroll around Marrakech Medina, why choose when you can have both?

Marrakech

A colourful capital of ochre stucco buildings and gleaming minarets, Marrakech is now a destination of choice among city-break investors; the capital’s Tropez-like swimming pools and Ibiza-style beach clubs now wooing a well-heeled younger crowd. European buyers to date have swooped upon the Medina (Old City), restoring dozens of old riads (townhouses with courtyards) and dars (houses without gardens). Entry-level prices have rocketed in the past four years: semi-renovated apartments with roof terraces selling for £70,000 rising to upwards of £500,000 for a five-bedroom riad in prime condition with panoramic city views. Those seeking a DIY project, will still find a healthy stock of renovation opportunities in the districts of Daudiat and Massira, while the upmarket district of La Palmeraie the ‘Beverley Hills’ of Marrakech continues to push the price ceiling; traditional pink brick Moroccan mansions with all the trimmings setting you back upwards of £2 million. The city is, however, also attracting big bucks buyers seeking exclusivity but with all the conveniences that come with service-oriented community living.

A prime example is Domaine Royal Palm, a stunning 243-hectare residential resort on the city outskirts. Scheduled to open at the end of 2009, the resort will feature a world-class Clarins spa, international 18-hole golf course, equestrian centre and polo fields, and bespoke residences designed by leading Mauritian architect Jean-François Adam, incorporating the evocative local colours, textures and traditional design elements synonymous with the culture of southern Morocco. Prices start from £500,500 with Erna Low.

Tangiers

With Vision 2010 funding in place, Tangiers is successfully shrugging off its down-at-heel reputation. The city’s sweeping beaches and hilltop serenity is starting to attract overseas buyers, with property prices 30 to 40 per cent cheaper than Marrakech. Work is also scheduled to star next year on a new high-speed rail link, confirms Philip Arnott of Moroccan Properties Immobilier, upgrading links between the north and south of the country and cutting transfer time down from Casablanca on the coast to just two hours: “Once running, real estate prices are set to soar,” he adds.

Top-notch £600,000 villas are de rigueur in La Marshan, an elegant, hillside colonial quarter just a stone’s throw from the sea. “You can expect some competition there too,” adds Arnott. “It’s a popular neighbourhood with expats and properties rarely stay on the market for long.” Modern villas and beachfront apartments in the up-and-coming coastal district of Malabata, by contrast, fit into a more accessible price bracket, with two-bedroom apartments fetching upwards of £220,000. Those seeking a hassle-free alterative may like El Oasis de Marrakech, a secluded resort just ten minutes from Tangiers International Airport. Designed to reflect the historic influences of the city of Marrakech, each of the resort’s three distinctive neighbourhoods reflects a mix of French, Berber and Arabic design. One-bedroom apartments set in landscaped gardens with communal pools are priced at £26,000, rising to upwards of £70,000 for a three-bedroom penthouse, through Platinum Investment Properties.

Essaouira

One of the most enchanting spots along Morocco’s Atlantic coast, Essaouira swaps the rose hues of the mountain towns for sparkling whitewashed walls and blue shutters. Located south-west of Casablanca, the town’s cosmopolitan ambiance stems from its mixed heritage of Arab, Portuguese and French cultures, giving it great appeal to Western European second-homers. “Essaouira is now fashionable among Moroccans as well as being a favourite spot with jaded urbanites due to its coastal location,” adds Jack Oswald of local agent Karimo. “It’s not as frantic as Marrakech, yet there’s enough going on with the beach, hammams and spa, as well as a large souk to potter about in. Property prices have risen by ten per cent in the last year, with a similar forecast expected for 2008-9.”

Residence Maroc has a beautifully renovated riyad in the town’s celebrated medina with a price tag of £215,500. Crowned by two roof terraces and spread over three floors, the residence offers 250 square metres of living space, with four good-sized bedrooms and a classic design mosaic patterned courtyard.

Those hankering after something a little more secluded meanwhile, should head to the town outskirts. Located in private grounds and boasting panoramic sea views, Karimo is marketing a stunning four-bedroom, three-bathroom, architect-designed villa with mosaic tiled pool and two independent houses for guests and staff. Built in classic Moorish-style with horseshoe archways, windows and doorways, the property has an asking price of £480,000.

U.S. International Tax Planning: Subpart F Basics for Controlled Foreign Corporations

Subpart F rules limit deferral of foreign income by owners of foreign corporations. Earnings of a foreign corporation owned by U.S. taxpayer(s) are generally not taxable in the U.S. until remitted. This general rule is subject to several anti-deferral regimes, including Subpart F. U.S. shareholders (generally U.S. persons owning 10% or more of the vote) of a controlled foreign corporation (CFC) must include in their income currently certain types of income earned by the CFC, under the provisions of Subpart F. These inclusions are accompanied by a deemed-paid credit for corporate shareholders that operates identically to the deemed-paid credit for dividends. A Subpart F inclusion, however, is not a qualified dividend eligible for the reduced 15% tax rate.

This first of a series of articles on Subpart F deals with the basic rules. The next article in the series will discuss foreign base company sales income and manufacturing.

A CFC is a foreign corporation more than 50% owned (by vote or value) by U.S. persons who own more than 10% of the vote of the foreign corporation. The 50% and 10% are determined with attribution rules, so for example father and son are counted together, and parent corporation and subsidiary are counted together. U.S. persons include U.S. citizens, U.S. resident individuals, U.S. corporations, U.S. LLCs, and partnerships organized under the laws of any of the 50 states or DC.

A 10% or more shareholder of a CFC must include in his/her/its taxable income each year his/her/its pro rata share of:

· Net Subpart F income, and

· The CFC’s investment in U.S. property (up to its total earnings and profits).

Subpart F income includes 3 key types of income for most groups:

· Interest, dividends, rents, and royalties, and gains on property that produce such income (called FPHCI or foreign personal holding company income), with several exceptions,

· Income from purchase of goods from a related party and sale to anyone or purchase of goods from anyone and sale to a related party, where the goods are both produced and for use outside the CFC’s country of incorporation (FBC Sales Income), and

· Income from performing services for, on behalf of, or with substantial assistance from a related party, where the services are performed outside the CFC’s country of incorporation (FBC Services Income).

If Subpart F gross income (total receipts less cost of goods sold) is both less than $1 million and less than 5% of the CFC’s gross income, it is ignored. If it is more than 70%, then all of the CFC’s income is considered Subpart F income.

Example: Fred, a U.S. citizen, owns 51% of Buy-Lo Ltd., a UK company. Buy-Lo purchases nuts and bolts from an Indonesian company of which Fred owns 51%. Buy-Lo makes a pre-tax profit of £2 million in 2011 selling the nuts and bolts throughout Europe, with only minor sales in the UK. Buy-Lo pays £500,000 of UK tax. Fred must include in his 2011 taxable income his share of the Buy-Lo after tax net, in dollars. If the pound is $2=£1, then Fred’s taxable Subpart F inclusion is $1,530,000. That is £2,000,000 profit less £500,000 tax = £1,500,000 times FX rate of 2:1 times 51% ownership.

Net Subpart F income is Subpart F gross income less all expenses and deductions related to that gross income. Subpart F income is after reducing income for allocable income taxes. Subpart F inclusions are limited to the earnings and profits (E&P) of the CFC. Where an amount would be includible under Subpart F but for this E&P limit, future amounts of earnings are recharacterized as Subpart F. In addition, if the earnings of the CFC are subject to foreign income tax of over 31.5%, then the income is permanently excluded from Subpart F. This high tax test is determined under U.S., not foreign, principles.

Several exceptions apply. FPHCI does not include rent or royalty income from an active business of renting or licensing property, with several significant conditions. Example: Paris Rent-All Srl (PRA) rents construction equipment through its locations in France and Switzerland. All rentals are short term, including hourly. PRA’s employees clean, inspect, and repair the equipment after each rental. PRA’s income qualifies for the active rental exception and is not Subpart F income.

FPHCI also does not include interest or dividends received from a related party organized in the same country, or rents or royalties for property used in the same country. For 2006-2012, it does not include dividends, interest, rents, or royalties received from any related party unless the item is attributable to Subpart F income of the payor.

FBC Sales Income includes income from buying and selling, not making and selling. Where components are purchased from related parties, issues may arise as to whether the CFC manufactured the goods. Manufacturing includes substantially transforming the goods, as well as processes generally considered manufacturing.

A special branch rule applies for FBC Sales Income. If one branch of a CFC makes goods and a branch in a different country sells the goods, the profits of the sales branch are Subpart F income if a tax reduction test is met. The branch rule treats a low tax branch as if it were a separate entity, causing a deemed sale between branches, followed by a sale to customers of goods purchased from a related party. Example: Swiss Co. makes machines in Germany and sells them throughout Europe from the Swiss sales office. The branch rule treats the machines as if they were sold by a German CFC to a Swiss CFC, who then sold them to customers. Thus, the sales portion of the profits are Subpart F income.

CFCs earning FBC Services Income may be providing services to customers or to related parties. If a related party subcontracts services to a CFC, and the CFC performs those services outside its country of incorporation, the U.S. shareholder must include the net income in his/her/its taxable income as the CFC earns the income.

A U.S. shareholder must also include in income the amount of the CFC’s E&P invested in U.S. property. For this purpose, U.S. property is narrowly defined. It includes physical assets in the U.S. and amounts owed to the CFC by related U.S. parties. Thus, a loan of earnings back to the U.S. shareholder of a CFC results in an income inclusion for that U.S. shareholder almost as if a dividend had been paid. There are exceptions to the definition of U.S. property for trade payables of U.S. persons not outstanding longer than normal trade terms. A guarantee by a CFC of debts of a related U.S. party is considered an investment in U.S. property, as is a pledge of CFC shares by a U.S. shareholder.

No double tax. Subpart F also contains a mechanism to ensure that a shareholder is not taxed on distribution of E&P by the CFC. Any distribution is considered to come first from previously taxed amounts and is not included again in the distributee’s income.

Conclusion: U.S. shareholders of controlled foreign corporations must include in their income each year their shares of certain of the income of the CFC, even if undistributed. They must also include in income any loans or advances to U.S. related parties. Careful planning is needed to reduce the effects of Subpart F.

Top Tips for Buying a Place in Javea

Long gone are the days when owning a place in the sun is only a possibility for multimillionaires and Eastenders TV stars; nowadays it’s a much easier and a lot cheaper to buy yourself a pad in the sun that would make Mick Jagger feel at home.

It is true that to a limited extent this sort of home remains something of a luxury, and really it always will remain so, but these days having a home in a sunny location is no longer something that only the very affluent can afford. With the opening up of the European Community, the comparative high worth of the domestic home market even in today’s days of austerity, and the birth of the internet to make it all much easier, finding yourself a property in the sun has never been easier.

The opening up of the international house market has made pockets for property development all over Europe, turning isolated, rural and out of the way little villages into areas of expansive property development. A prime example of this is Javea. Also known as Xabia, Javea is a lovely little place on the coast of the Costa Blanca, not far from the famous city of Valencia on Spain’s Eastern coast. Valencia has long been hugely attractive to tourists in addition to people looking for a place to live abroad, and this paradise offers all of the things that make Valencia so appealing to incomers. If you’re keen on accommodation in Javea, you are going to love its closeness to the Mediterranean as well as its location in-between two rocky outcroppings on the coast line and the beautiful climate for which the area is notorious.

Ideally for plenty of would-be expatriates, particularly older couples with teenaged and twenty something family members, Javea is also a relatively little distance away from Ibiza. This world-famous party town is only 90 kilometers away, can be traveled to by boat, and you can even see it on a cloudless day from the beaches of Valencia. This nearness to Ibiza shows that this place can truly offer something for a huge range of prospective purchasers- the calm market charm of Javea, the silent beauty of the “older” half of Ibiza, and the notorious parties of Ibiza’s fabled club scene. Villas for sale in Javea themselves are able to offer all things to all purchasers- there are homes of a scale and of a level of luxury that will suit all sizes of family, tastes and bankbooks.

So if you are looking for a holiday home in the sun; somewhere to retire to overseas, or even a total change of life for you and your brood, then Javea really should be near the top of your list of desired locations. The little town itself is especially well placed for a laid back type of lifestyle, and this terrific location has ensured the area is also a target for people who wish to relocate but are still not of retirement age – there are good work possibilities for all ages and nationalities due to the large number of expats in the area.

7 Things You Should Know About the NYC Luxury Real Estate Market

1. You DON’T have to spend a ton of money. (Relatively speaking.)

Plenty of strategies exist for those who want to purchase NYC luxury real estate but don’t want to spend an exorbitant amount of money. One way is to purchase a unit in a lower floor of a luxury building. A second floor unit can cost as much as 19% more than a comparable unit on the first floor. Another option is to seek units with higher maintenance or common charges per month, as those often have lower asking prices. Alternatively, some lines in a building can carry a higher price tag than others… for instance, a unit line with windowed bathrooms will fetch much more on the open market than a line whose bathrooms are lit only by fixtures.

2. Get Bank-Approved.

If you need a mortgage to purchase a NYC luxury real estate property, you will want to get a mortgage approval letter from your bank stating the amount of mortgage loan for which you are approved. Savvy sellers can legally tell their brokers to only show properties to buyers who are “bank-approved.” A bank qualification letter is not the same as an approval letter, and will not qualify you to see a property under bank-approval requirements.

3. Know Your Terms.

In the real estate industry, “terms” refers to the stipulations under which money is given. For cash-closers, this relates to among other things, how many days needed to close. For mortgage holders, it refers to your percentages for interest as well as time needed to obtain the funds from the bank and transfer them into the appropriate ESCROW account. In a real estate transaction, terms are equally as important as cash, because they dictate to sellers under what conditions they will get to recoup their original purchase price. If you know your terms inside and out, it will make it easier for your broker or agent to negotiate with sellers for you.

4. You CAN do your own research, and you probably should.

According to the National Association of Realtors, 88% of individuals start their real estate search online. In New York City, home of the savvy shopper, over 90% of buyers and renters start their search online. The importance of doing your own research is to be ahead of your competition – other ready, willing and able buyers. Each NYC luxury building has its own rules for purchase and its own amenities to offer. Each area of Manhattan has its own disadvantages, quirks and advantages. And not every real estate agent or broker is equal. You will want to some conduct some preliminary research in order to stay ahead of YOUR competition – other ready, willing and able buyers. Which brings us to our next point…

5. Competition IS fierce.

You’ve probably heard this adage before in regards to the NYC Rental market: bring a bank-certified check with you and be ready to close on a rental unit you like as soon as you see it, because the next person to see it might just snag it from under your nose. Similar fervor applies to the NYC buyers’ market, especially for luxury NYC real estate. International all-cash buyers are most likely your strongest competition in the NYC luxury market. They can walk right in and say “I’ll take it,” and cash buyers can close in as little as two weeks. Know your own financial situation, and know just how quickly you are ready to move on a property you like. The ability to quickly move into ESCROW will give you a significant advantage against other buyers.

6. You NEED a competent broker.

Just because a property falls under the luxury umbrella, does not necessarily mean that it is problem-free. Structural problems such as improper weight baring pillars and roofing issues, evidence of water damage and mold, or piping and HVAC problems are just some of the problems one can find in any property. That is why it is integral that one conducts a home inspection before signing on the dotted line. Most importantly, make sure your contract for purchase includes a home inspection contingency, i.e. a statement that permits you to freely walk away from the property if the inspector finds a problem with it. A competent broker also won’t waste your time or their own by showing you properties that aren’t satisfactory.

7. The NYC Luxury Real Estate Market never really dipped.

The New York City real estate market is a market unto itself, comparable to none other in the United States. It plays by its own level of supply and demand rules. International demand for NYC luxury real estate continues to be one significant reason why Manhattan prices are so high compared to other areas. REBNY reported that 2012 was the most successful year (over $30 billion in property sales) for NYC real estate since 2008. REBNY also reported that broker confidence in the market has been higher in January 2013 than in any month of 2012. Sales numbers across most brokerages point to the fact that we are continuing to trend towards a sellers’ market, as sellers and co-op boards continue to be able to pick and choose among a pool of possible buyers. Know that the NYC luxury real estate market is not depressed by any means and factor this knowledge into your approach to purchase.

Tips to Hire a Commercial Property Inspector

Hiring a commercial property inspector is an important part of buying, selling, or owning a building. Having relevant and accurate information regarding the state of a building can be helpful in each of these circumstances:

1. When an individual is preparing to purchase a building and wants to know the true state and value of their investment.

2. When an individual already owns a building, but wants to know the condition of their building, enabling them to take preventative care measures or reevaluate their investment.

3. When an individual is preparing to sell a building and wants to know the true state and value of their investment.

In each of these circumstances, the property-owning individual requires information that can only be provided by a commercial property inspector, making the process of hiring a commercial property inspector rather important. The tips included in this article are therefore intended to help commercial buyers, investors, and owners gain an accurate evaluation of their investment in order to protect and grow their investment portfolio.

Six Tips:

1. First and foremost, it is crucial to make sure that your commercial property inspector is licensed, whether by National Property Inspections, the International Code Council, the National Association of Certified Home Inspectors, the state, or another reputable and trusted standards association.

2. Do your research. Social media sites like Yelp and Google Reviews provide unfiltered reviews of commercial property inspection businesses. Though business owners can control the reviews that appear on their company website, they cannot control the reviews posted about their business on social media sites like the examples above. These are the best places to get a feel for the businesses you’re considering; however, don’t let one bad review rule out a company – look for a general consensus.

3. Do more research! Follow up on the company’s references. Of course the references that any business owner provides you with will have a positive review to share, but they may be able to answer specific questions that you have regarding work styles, principles, and other miscellaneous concerns.

4. Make sure that your commercial property inspector’s equipment is updated and conforms to current standards of practice. Advances in technology, such as thermal imaging systems, have bettered an inspector’s ability to identify water and air leaks, and should be on your list of requirements. Further, make sure that your commercial property inspector has adequate training to use advanced equipment – ask for credentials!

5. Discuss payment options. Some commercial and home inspectors are small, often family-owned, businesses and may not have the ability to take credit cards. If you plan on paying by credit card, make your intentions known early on so that you may decide to choose another company or another payment option.

6. Communicate effectively. Be clear about your expectations for the commercial property inspection and discuss obstacles. Inspectors are not expected to move potentially harmful objects, such as heavy machinery or hazardous materials.

If you are unsure of whether to hire a commercial property inspector or not, make the smart decision and move forward with an inspection. For property owners, preventative maintenance is always more cost effective than repairs, which may also stall productivity. Additionally, whether you are interested in buying or selling commercial property, an inspection will give you the information you need to accurately assess your investments.

Planning to Buy Property in Noida? Know Some Benefits of the Investment

Noida, the bustling city on the periphery of Delhi has undergone a paradigm shift in the last few years. Fourteen kilometers away from Central, Noida is a well-planned township, which has more than 5000 industrial units and over 5,00,000 population. Noida has come far in the four decades since it was set up. If you compare the present pictures of the Noida with the ones taken just a decade back, you could see that the city was barely existent at that time.

The infrastructure in the city is excellent. All social amenities including educational institutions, healthcare facilities, banks, hospitals and shopping malls are present here. Genesis International, Step by Step, Lotus Valley, Pathways, Kothari International, Amity University and Galgotias are some of the famous educational institutions located in Noida. For business needs and leisure, Noida also offers a number of budget and boutique hotels as well as service apartments. The list of luxury hotels in Noida includes the Park Plaza, the Radisson Blu and the Hyatt, among others. For sports lovers, Noida is often the preferred hangout for a number of sporting venues such as the Buddha International Circuit, where regular sporting events are held and Cricket Stadium.

Due to its well-developed infrastructure and excellent connectivity, the housing demand in Noida has shot up in the recent years. All leading developers like Unnati Fortune, Gaursons, Godrej and Supertech have come up with many new launches in Noida. Today, the two most popular projects in Noida are Unnati Fortune The Aranya and Gaursons 16th Park View.

Unnati Fortune The Aranya

Built across 18 acres of land, Unnati Fortune The Aranya is a well-designed and efficiently planned project. The Project has been heralded as a premium project of the Year 2011 along with the best Location in the city by Builder’s Council of India. In order to add joy to your lifestyle, the residential units at Unnati Fortune The Aranya will come loaded with a host of luxuries that will ensure opulent lifestyle and these can be witnessed both inside and outside the homes. Some notable features of The Aranya are 70% open green area, 4 side open plot and seismic Zone IV structure. In addition, Eco-friendly features of this project are advanced garbage disposal system, water harvesting and re-cycling.

Gaursons 16th Park View

Sprawling over vast acres of land, Gaursons 16th Park View designed by renowned architects, every unit in this project is spacious and enveloped with hi-tech amenities and specifications. The project will lay special focus on contemporary living using art designs and modern fittings.

Real Estate Investing In Belize

Any trip to Belize starts fantasies of owning a beach villa, or a jungle resort. There are a lot of North Americans in this English speaking, former English colony.

Belize is known for its reef, the second largest in the world, and the fantastic diving that goes with it. Even beginner divers have heard of the Blue Hole, a famous diving spot. Ambergris Caye, “La Isla Bonita” in Madonna’s song, is the main tourist spot.

Along with tourist shops and T-shirt shops, there are real estate shops on the dusty roads of San Pedro on Ambergris Caye. Belize prices can range from as low as $5-10,000 for a beach lot in Corozal Town, a sleepy border town, to much higher prices for properties on Ambergris Caye. The southern resorts like Placencia are somewhere in between, price-wise.

There is lots of online assistance available. Gringos resell their properties, and locals sell to gringos, often through real estate agencies. You can contact a local real estate agency when you are in Belize, or simply scour the listings online.

If you keep in mind the old “buying swampland in Florida” tale, you’ll realize that you simply MUST visit and see for yourself ANY property you buy. You’d take a $2,000 car for a test drive and kick the tires, wouldn’t you? Then why would you make a $100,000 purchase, sight unseen?

Oftentimes the most important part of a purchase like this is YOUR enjoyment – you can buy purely for investment purposes, but will get an additional bonus of sunshine and relaxation if you LIKE the area, WANT to travel there, and VISIT your property to keep an eye on it or stay in it.

As more and more North Americans travel, and with the ease of getting to Belize, and its English speaking, safer roots – there will be more people looking to retire and visit Belize. This should be a continuously appreciating investment with good rental prospects, if you do your home work!

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