For a free home appraisal estimator tool please visit http://www.homeappraisalestimate.com/free_home_appraisal_estimates.htm where you will find tips and resources on home appraisal estimators and how to save money when selling or buying a home.

In my next article, titled How To Prepare A Property For Market I will tell you what needs to be done before you put your property on the market, and I will also alert you to the most common mistakes many first time FSBO make. For a complete listing of all these articles, please visit ByOwnerInsight.com.

George Grosso is an experience real estate professional, now retired, who teaches all kinds of people how to sell their own properties privately and save thousands of dollars in commissions.

Real Estate, by its own very nature, is all black and white – you either do things, or you don’t.

There is no grey area in Real Estate, which one can find otherwise in commerce and trade. For instance, letter of intents that are widely used prior and during negotiations between corporations or between individuals and corporations have no place whatsoever in the world of real estate, where the only subject matter of trade is the exchange of titled interests in land for money. One cannot stipulate today to contract out in the future and hope the stipulation will be upheld, unless such an agreement is contained in a contract drafted and accepted today and is in the form of an option.

In essence, a stipulation to contract out at a later date is a void contract, meaning that such a stipulation does not exist under the law of real estate because no contract ever existed in the first place. Therefore the parties to the stipulation must be returned to their original bargaining positions as far as it is practically possible. This is also the case in the situation where both parties want the stipulation to continue – an impossibility since no contract exists between them in the present tense.

This principle was recently reaffirmed in the Supreme Court of British Columbia in a case involving a private transaction between a prospective Purchaser and a prospective Seller. In this case there was a document executed between the parties, which clearly set out the legal description of the real property to be exchanged as well as the purchase price – CAD 580,000. The document also set out that there would be a deposit of $10,000 held by the purchaser’s lawyer in trust, that the deposit would be applied towards the purchase price and that it would be returned to the purchaser if the sale failed to complete.

Although on a cursory examination this document closely resembled a Contract Of Purchase And Sale there was, however, a fundamental element entirely missing: the date of completion. As no completion date had yet been agreed upon, a paragraph was inserted in its lieu that read as follows:

“The Contract of Purchase and Sale of the Property will be prepared by the Purchaser’s lawyers with terms & conditions, and the date of completion of the Property to be agreed by the Vendor and the Purchaser”.

Later on a completion date was actually agreed upon by the parties, stipulated to be March 3, 2005. On February 24, the solicitor for the Purchaser forwarded to the solicitor for the Vendor the necessary documents to complete the transfer. However, on March 3, 2003, the completion date set out in the document, the vendor declined to complete, on the grounds that there was only an agreement to agree in the future to the purchase and sale of the subject property.

The Court agreed with the Vendor. In reaching his conclusion, the Trial Judge opined as follows:

“Here the wording of the executed document is clear. The parties have said that a contract will be prepared with terms and conditions to be agreed by the vendor and the purchaser. “To be agreed” means some further agreement is necessary in the future. [...] this is a circumstance where “the execution of the further contract is a condition or term of the bargain”.

In other words, where the parties have stated that the terms and conditions are to be agreed, it cannot be said that the document is the mere expression of the desire of the parties as to the manner in which the transaction already agreed to will in fact go through.

The deposit was ordered reimbursed to the Purchaser forthwith.

Luigi Frascati

Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He holds a Bachelor Degree in Economics and maintains a weblog entitled the Real Estate Chronicle where you can find the full collection of his articles on Real Estate Economics and Finance. Luigi is associated with the Sutton Group, the largest real estate organization in Canada, and is based with Sutton-Centre Realty in Burnaby, BC.

It is not wise for couples to live without getting their home properties adequately covered. Also, it is important that they get the right policy to cover their home and it contents.

How to get this is clearly explained in this article.

There are facts to consider when buying a cover deal. You have to consider having special items belonging to your partner included in the policy agreement; a wise step here is to get a comprehensive home structure and content deal. This addition won’t cost much if you know how to work with your home cover company.

The quality of the policy should be the most important thing to look out for when buying the policy. You can always talk with your insurance company to get reduced rates on your selected policy package.

Is your home already insured? If yes, then you need to check if the policy covers your personal possessions. In a situation where your personal possessions are not adequately covered, you need to request that the excluded properties be included.

The value of any single item must not exceed $2500. It is difficult to get a policy that covers single items that worth over $2500.

When shopping for an insurance policy, make sure the policy allows you to make property movements. This will permit you to move your personal items out of your residence.

The internet is loaded with millions of insurance websites that provides instant cover services and the competition to get customers is high. This increases the your chances of getting discounts.

If you want to get your preferred deal, you need to study homeowners insurance quotes online. Make sure that you compare the provided free quotes before deciding on the policy package to buy.

The author of this article, Richard E. Palumbo, Jr. is a member of the Rhode Island, Massachusetts, and Federal Bar. Richard is a frequent seminar lecturer and speaker regarding various issues relating to Condominium Law. The Law Offices of Richard Palumbo is highly focused firm concentrating on the following related areas of law: real estate law (including condominium law); business law; and estate planning (wills, trusts and probate).

For more information about our firm and the legal services that our firm provides, kindly visit our website at http://www.richardpalumbo.com or call us at 401.490.0994.

This is a quick glimpse into eminent domain law and a basic overview of the process. The next articles will cover more in-depth some of the issues faced in condemnation generally, and what to expect when the other side raises these issues.

Disclaimer – nothing here is meant to be considered a legal opinion. This information is for informational and educational purposes only. Before engaging in a condemnation action, seeking the advice of legal counsel is strongly encouraged.

Another way to find private lenders who will be interested in investing in your real estate deal is to market real estate investment services to accountants and financial advisors. Due to the current economic downturn, you will find that most accountant and financial advisors would be interested in offering their clients an investment with the highest rate of return. If you can be competitive in offering a high rate of return on investment, this will open up a host of opportunities for finding private lenders.

How Can I Find Accountants and Financial Advisors? You can find a lot of accountants and financial advisors by using techniques from the direct response marketing component of your real estate investment marketing plan.

* Obtain a Mailing List: Go out and obtain a mailing list of every accountant and financial advisor in your area just as you would obtain a mailing list for a direct response marketing campaign for real estate investments. You can use list brokers such as InfoUSA and MelissaData which are fairly inexpensive and will cost you about 10 cents per name.
* Create a Postcard: Write a letter or create a postcard that contains an offer for clients to invest and receive a higher rate of return on their investment than what they are receiving through current investments. Your offer should be a higher rate of return than an ROI on the current market. Create a line on the postcard that prompts a call to action for the client to get in touch with you.
* Create a Letter: Create a letter with an attention grabbing headline and then present your offer. Talk about news in the current marketplace and how your offer could provide the solution for clients that are currently receiving a low rate of return on investment. Offer some information from your profile and some of the past successful investments you have accomplished with other clients.

Include suggestions to the accountant and financial planner as to how they can present the opportunity to their client. This also demonstrates your knowledge and expertise in real estate investment and how your offer can specifically benefit the client. Perhaps also include information about an upcoming seminar you are providing and invite the potential client to contact you directly for further information on the investment opportunity.

* Make a Phone Call: Once you obtain a list of accountant and financial advisors, start making phone calls to them. Do not waste their time and go on and on about the history of your real estate investment business. Simply provide them with the information about what you do and what you have accomplished, almost similar to what you do with an elevator speech.

Include some events such as a seminar you will be doing that is coming up soon or offer some free information. Who knows, if you are professional and charismatic on the telephone, perhaps the accountant or financial planner themselves may be interested in investing in your real estate deal.

* Offer to Do A Free Presentation: If you have a group of accountants and financial advisors who have multiple clients interested, offer to do a free presentation to encourage people to invest with you. Even if it is only a few people, remember that it is a numbers game and that word of mouth advertising can be very powerful.

The property market in the UK has already started to see drops in house prices, 1000′s of people are being affected and 1000′s more are in the risk zone. In recognition of this unravelling disaster solutions to tease problems have began to be offered by company’s in the form “Sell & Rent Back” schemes which allow distressed buyers to sell their houses fast in order to avoid them being taken away and are given the option to rent the house back and continue living in the property

“Sell & Rent Back” is often the most used and one of the better options for preventing eviction and loss of property when you find your self in the position that you cannot keep up the the repayments on your mortgage. This will allow you to stay in your own home and avoid the stress of having to move when you have no were to go.

Fundamentally this means the original owner, who is now renting the home from the new owner, is no longer responsible for any taxes or repairs the home may need. This is a major benefit when the financial position you were in would make these extra payments a drain on resources. Depending on what kind of deal that you enter you may even agree to buy the house back at a later date if your financial position improves. Its always a good idea to save money when you in this position so that you have some capital to buy the house back.

In order to enter into one of tease schemes all you have to do is get in contact with one of the company’s that specialise in these kind of deals, the majority do not charge any fee’s and work on a no obligational basis, and will be able to help stop an eviction from taking place even if its only days away form happening, in some cases even hours.

One of the most transparent benefits of an FSBO home sale to many home owners is that sticking that ‘For Sale By Owner’ sign in their front yard says that they might have some control over the selling of their home. However, what are the benefits of an FSBO home sale, and how do you go about doing it.

While not a ‘benefit’, one of the first things to remember when thinking about an FSBO home sale is that no matter where you are, the entire task can seem somewhat daunting and complicated. Adding to the complications is the fact that not only are there all kinds of legal forms required (if you have ever bought a home you know what I mean), but that requirements may vary from state to state. A California ‘for sale by owner’ home sale is probalby going to be different from a Texas FSBO transaction.

You might wonder that; if going the ‘for sale by owner’ route is so complicated and messy, why am I including this comment in an article for someone who is contemplating putting up their home in a ‘for sale by owner’ offering?

Well, let’s talk about those benefits.

1. The FSBO Kit – Despite the potential complexities, there are many companies which offer what could be called an FSBO kit. Depending upon the company, this kit will provide the homeowner with the FSBO legal forms, and hopefully some guidance on preparation and filing of the ‘for sale by owner’ documents.

However, be advised that an FSBO kit may range from simply the basic or most common forms needed with some instructions on how to fill them out and where to file them, to very complete FSBO kits which include ALL the legal forms needed, instructions on how to fill them out, where to file them, instructions on how to prepare your home for sale, how to advertise your home for sale effectively, and, in some cases, contact with a listing service which will help put the home out in front of prospective buyers.

2. Growing Public Acceptance of the FSBO Process – A few years ago, most buyers would have been wary of a home with an FSBO sign in the front yard. However, since more and more home owners have opted in for this type of home sale, not only are many more people actually looking for those signs, but an entire support industry seems to have sprung up to assist the homeowner who has decided to try the ‘for sale by owner’ route. Newspapers offer advertising packages and guidance, for example, and even some realtors have jumped on the bandwagon by offering assistance and guidance to the homeowner – for a fee, of course.

3. A Desire for Control of the Home Sale Process – I alluded to this above in the opening paragraph. Many people just want to have some control over the process and not feel that they are a pawn in the hands of the real estate agent.

Additionally, some people want to be involved in showing the house, explaining its values and even such simple things as ‘how nice the next door neighbor is’ to prospective buyers. Some people feel that this more personal approach may do more to sell the house than a realtor’s remark about how the owner mentioned that it was a nice neighborhood to live in.

4. Saving Real Estate Commissions and Fees – I saved this for last, just because I knew you wanted to see it first! Actually, I do not necessarily consider savings to be the main reason that ALL people choose to go with an FSBO home sale, but it is certainly a primary factor for a large percentage of home sellers. On the other hand, many of us simply believe that we don’t mind paying if we know what we are paying for. When that realtor walks off with a large commission, we often wonder what he or she did to earn it.

While ‘for sale by owner’ will certainly very often offer savings, ranging from small to large amounts, many of us are just happy to know where our money is going. While there is almost no concrete way to measure how much money is actually saved in an FSBO home sale, there will almost always be some savings, if the process is done correctly and efficiently.

For most, the FSBO home sale will be a rewarding experience if done properly. If you are not an experienced home seller, probably the best way to be successful is to do your homework and get your hands on the best FSBO kit you can find.

It has now been over one year since the much debated Home Information Pack and Energy Performance Certificate for houses with 4 or more bedrooms was launched on the 1st August 2007. The principle was to ensure that buyers will know how energy efficient a house is before they buy it, and also so that some of the legal work in regards to that can be dealt with in advance, saving time and money for those concerned.

Now that time has passed since the introduction of Home Information Packs and Energy Performance Certificates, we can trace the impact the scheme has had on the UK. All houses of a particular size that are put on the market are now subject to the rules and must have the necessary Home Information Pack (known as HIPs) and Energy Performance Certificate (known as EPCs).

There was much concern and debate over the introduction of HIPs at the time. They had a somewhat shaky start when the Government was taken to court by the Royal Institution of Chartered Surveyors over the plans which delayed the 1st June launch and led to a negotiated compromise with RICS and the initial 4 bedroom house implementation.

Home Information Packs affect all those in the UK who hold an interest in conveyance and areas connected with conveyancing. It will not be until the end of 2008 when HIPs become mandatory for all homeowners, however, on the 8th May 2008, the Housing Minister, Caroline Flint MP, announced the extension of what were intended to be temporary provisions for First Day Marketing and leasehold requirements in the HIP Regulations from 1 June to 31 December 2008. This allows a property to be marketed where the HIP has been commissioned and paid for, or arrangement for payment been made, and the documents are expected to arrive within 28 days.

Yet people are still uncertain as to the exact makeup of a Home Information Pack. Within a HIP, you can expect to find a number of compulsory legal documents and searches. These include a Home Information Pack Index, an Energy Performance Certificate (which gives a “fridge type” efficiency rating for the property and makes suggestions for improvements), a Sale Statement, a list of Standard Searches, Evidence of Title, and, where appropriate, additional information for leasehold and common hold sales.

Of these documents, it is important to note that there can be variations from HIP to HIP depending upon the provider. For the list of Standard Searches, a better provider will incorporate the best kind of detailed Full Official Local Authority Search. Some HIP providers use other kinds of searches provided by personal search companies. However, this can occasionally cause problems with buyers or their lenders who will not always accept personal search results. Consequently, this can cause difficulties to get in the way of a successful sale, which is, of course, the last thing a homeowner wants. This one simple area of Home Improvement Packs shows just how vital it is to get good advice on HIPs.