Archive for May, 2007

by stephenmorgan
A key policy that was once the cornerstone of the new Labour manifesto in 1997 is facing an important legal challenge. The Home Information Packs or HIP’s for short that are due to become law in England and Wales in June 1st run the risk of becoming a complete and utter non-starter.

The Royal Institute of Chartered Surveyors (FRICS) had stated that it would seek a judicial review because it felt that the government had not consulted properly on the legal ramifications of the new information packs.

This follows hot on the heels off a fairly damning report compiled by a select committee from the House of Lords that recommended the policy should be scrapped. The trouble with the whole scheme really appears in one way to revolve around the issue that nobody knows how much this will cost.

Government figures suggest that the packs could cost anywhere between £400 and £600 but private industry estimates suggest this figure could be wildly inaccurate with the possibility of the end cost passing the thousand pound mark.

Now the real problem with the whole scheme is that as you can imagine with a policy that was drafted in 1997and is shortly to become law is that quite a few changes have been made along the way. One of the major changes involves who will and who cannot accept the information from the pack as accurate and valid.

It was initially proposed with the first draft of this scheme that mortgage lenders would accept a valuation provided in the sellers Home Information Pack as being valid for lending purposes. As with all situations where there are large sums of money moving around it usually falls to the provider of these funds to decide upon which rules they are going abide by. In This case it appears that the government may not have taken that into consideration.

Strange that, as that would appear to be pretty logical to me. You pay the piper, you call the tune.

As a result the government have removed this evaluation aspect from the information packs and buyers and their prospective lenders will still be required to undertake separate and independent valuations.

So we are fast approaching a situation whereby sellers will be legally obliged to produce a document that not many people are going to pay attention to.

Now if this doesn’t sound like stupidity personified I don’t know what does.

That having been said, what information will an information pack include? Well firstly it is designed to produce evidence of title. In layman’s terms this is proof that the seller has the right to be able to sell the property in question. Secondly the information pack should include copies of planning, listed building or building regulations consents and documents. It should also include copies of local searches, guarantees for any work carried out on the property and lastly and this might appear to be a fairly contentious aspect. The home information packs are meant to contain an energy performance certificate for the property being sold.

The rational being according to the Home Office Minister Yvette Cooper “if you get this information on a fridge then you ought to be able to get this information for a home”.

God help us with thinking and rationale like that. Someone keep them talking while I ring for the ambulance.

Stephen writes about a number of Internet Issues such as Bad Credit Loans, Greenville SC Real Estate  and also about general Real Estate issues of which more can be found here at flats to rent

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by BraveHeat Woman
When it comes to making investment decisions for retirement and/or other financial goals, many people decide to hire a professional for assistance. entrepreneurs in particular find that they do not have time to do the research and develop expertise quickly enough to meet their needs.

After making the decision to consult a professional, the next step is to determine your investment style so you can determine the type of professional that best suits your needs. There are three basic investment styles:

* Independent or Self-directed: This person is comfortable making their own investment decisions; they can look at stocks,real estate or bonds and other investment opportunities and are confident making decisions.
* Validate: A person with this investment style wants ongoing guidance from a financial professional but also wants to remain in control of their investment choices, as well as the implementation and execution of the advice.
* Delegate: This style prefers to entrust the decision-making process to an adviser and be kept current on the status of the account

There are several different types of financial advisors including financial planners, stockbrokers and Registered Investment Advisors (RIA).
A RIA works well with a “Delegator” style of investor. Typically, “Delegates” have reached a point in their life where they want an advisor to manage their assets based on their lifestyle and financial goals. People who have left a job to become an entrepreneur frequently fall into this category, as they want assistance determining how to manage their company 401Ks, for example.

Sometimes, “Self-Directed” and “Validates” investors might change their investment style after a change in market conditions,change in financial position or for a host of other reasons and require assistance.

RIAs are professional financial advisers who specialize in managing financial securities portfolios. Typically, RIAs require a minimum account size of $250,000 to $1,000,000 of instable assets to create an effective portfolio. Some AIRs have a primary focus on mutual funds, pension plans and institutional clients. Others are in private practice and provide personalized investment services to individuals, trusts, and small business clients.

An AIR offers an investor the following benefits:

* Full time asset management including the selection, purchase, sale monitoring, review, and performance tracking of securities.
* Experienced and objective financial advice.
* Focus on high quality securities
* Design, construction and implementation of a strategy to meet your goals
* Coordination of managed assets in taxable, retirement,trust and business accounts for diversification without redundancy.
* Frequent communication regarding account and market information
* Regular performance reports that measure asset progress against market indices.

Advisers work on either commission only, fee only or a combination of fee and commission. Fee only investment advisors do not accept commissions and are not associated with products or investment banking relationships. The firm’s compensation is based solely on fair market value of the portfolio they are managing and not on the number of transactions or type of investments. This type of compensation system ensures that the adviser’s interests align with its clients.

AIR firms are highly regulated by the U.S. Securities and Exchange Commission [“SEC”]. Advisers who “continuously” and regularly manage assets of $25 million or more are mandated by the “SEC”.

Regardless of whether you choose to manage your own investments or entrust management to a financial company, it’s imperative that you have a consistent method for building your nest egg. You also should do your own due diligence and research on all financial institutions, products and professionals that you are considering for your team.

To find out more about investment advisers, and whether they are properly registered, read their ADV registration forms by visiting www.adviserinfo.sec.gov.

Businesswoman, Friend, Collaborator, and Team player, Elizabeth fulfills her Entrepreneurial Calling by offering a great service that enriches the lives of others. Together with other fellow BraveHeart Community members, her goal is to empower Women to be multi-dimensional success stories and inspiration to others. Be Sure to Visit: Be a BraveHeart Woman

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by Alan Lim
Most individuals consider money to be important even after retirement. This is used to pay the bills and other expenses instead of using the money one has saved from the retirement plan.

Instead of waiting for retirements benefits that you are entitled to monthly, here are some tips you can do to still make it grow;

1. You do not have to wait until retirement before you start saving. At an early age, you can start saving by creating a plan. Some banks and insurance companies have good rates which, in the long term, will possibly even double the money you have invested in a number of years.

2. Another is investing the money in bonds. Bonds mature over a certain period of time and usually have a certain amount of growth.

3. Stocks are also a good option since businesses usually grow and profit earnings on a quarterly level as well as acquisitions and other deals increase the value of the shares.

4. Purchasing real estate is also a good investment. Unlike cars that depreciate in value once it leaves the lot, the price of properties go up. You can hold it for a few years then wait until the time is right to resell it making a profit.

5. If you feel like starting something, you can also start a business. The working experience you have can give birth to an idea. The help of friends and family can also do the same.

6. You can also get an investment retirement account. There are many types available that have certain tax advantages and at the same time promise earnings.

There are many ways where a little money in the beginning can mushroom into something bigger.

In the 1970’s people worked hard and relied more on the job than the investments that were available. These days it is the other way around.

By looking at the options available then spending wisely on sound investments with the help at times of a financial manager, you can do wonders with the money earned before and after retirement.

The choice is up to you.

Get one of the best retirement plan provider you can find on the website

See how you can still make residual income from internet even after retirement

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by stapin
When starting on online business, it is essential for you to know about the pitfalls of making money online. Your idea may sound great but when it comes down to putting it into practice, you could find it a lot less glamorous. Knowing the dangers will allow you to plan for your success and avoid the most common problems that others have faced. To make your online business a success, you will need to be proactive, and this is the first step towards that.

Scams:-

A major problem faced by many people eager to make money online is the large number of internet scams and fraud out there. Even if you are telling yourself right now that there is no way that you could get taken in by a con artist, least of all, online, think again. You’d be surprised how often a perfectly smart person is fooled by these clever tricksters and loses a lot of money. It’s a good idea to verify your source, through references and association affiliations such as Better Business Bureau (BBB) that has an online arm as well. The Federal Trade Commission is also a good reference. Good standards of communication such as member forums and active phone numbers are also a good way of checking the authenticity of an online business. Be sure that your chosen source checks out.

Expectation mismatches:-

This is a typical problem faced by many enthusiastic entrepreneurs - unrealistic expectation levels. You may have the best idea and worked really hard to implement it, but be realistic in your expectations for success, especially initially. Like any other business, an online business can take time to start making money and there is a lot of competition out there. New businesses are cropping up every day and people are not searching for you in particular. Work on making yourself easier to find, for people who are looking for something similar to what you offer. Do this by adding relevant SEO tactics and good solid service. But remember that success will not happen overnight, and nor will it be easy. Be prepared to work hard. A lot of internet guides try to sell you on an “easy way to make money online”. This is simply untrue. There is no easy way.

Technical problems:-

Another major cause ofconcern for online businesses is the actual back end problems that may occur that impact the business adversely. Problems with the phone connectivity can cause loss of data packets that leads to breaks in the pages. This can lead to a negative effect on the customer’s mindset, particularly if this occurs in the middle of a payment transaction. If it happens too often, it can cause reputation loss for your site. Another common problem is with your hosting service. Often, an ISP will store a large number of sites on one single server and this will cause the service to be slow. At times, during heavy traffic, your sites pages will not load because the server is too busy. Ensure that no more than 10 sites are on your server. If you can afford it, another alternative is to have your own dedicated server.

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Stock Picks - Day Trade

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by stephenmorgan
It might not be rocket science but it is safe to assume that actually selling your home is not necessarily that easy an undertaking. The logic behind this assumption is fairly simple in that if it is was then there would be no need for Real Estate Agents.

There are two known ways of selling your home, by FSBO (for sale by owner) and the other option is thru a sales agent or real estate company.

If you opt for FSBO, the first thing you need to do is to determine the current market value of your house by benchmarking with comparable houses for sale in your neighbourhood. You can do a personal survey or flip the pages of the local daily to obtain references. Once determined, it’s time to do some house cleaning: clean the clutter in the yard, perform necessary house repairs and make the interior as presentable as possible. The next step is to advertise your intention of selling your home thru the local daily. Make use of the internet, print flyers and employ friends and relatives to distribute them for you. If payment is made in cash, then this will not be a problem; however, because a huge amount of money is involved in most cases, it is best to ask a mortgage broker to help in the facilitating the sale.

Once all of the above items have been set up, interested buyers will make a house call to request for an open house, a tour of the premises or negotiate for a fair price. In most instances, professional appraisers accompany house buyers to assess carefully the actual state of your home. Thus, be alert and precise in your answers so as not to downgrade the marketability of your home. Some buyers hire real estate agents to do the negotiations for them and to consummate the sale as well. It is preferred that negotiations be conducted between real estate agents since this would make the sale easier and also hassle free.

If on the other hand you don’t like the FSBO set-up, then hire a reliable real estate company to handle the sale of your house and sign a possible listing agreement. They normally charge a fixed fee from the proceeds of the sale. However, don’t be alarmed about such charges since these are all mandated by regulating government agencies and agreed upon as a standard by legitimate associations of real estate companies. Therefore, you’re assured that you won’t get overpriced.

A swift sale of your house can be expected from most experienced real estate agents, since they are well entrenched in the business and have connections in the industry. If you put your house in the sale block, real estate agents will swarm like bees and alert possible buyers of the intended sale. Agents arrange for mortgage financing in case buyers could not pay in cash or refinancing if they have an existing house loan and wish to transfer to your house. All you will ever need to do is wait! Let your real estate agents do the peddling and just sign the sale agreement once the sale is consummated.

After a thorough assessment, a sale sourced a real estate agent is much better than one sold by FSBO. The only drawback is a chunk of money is usually taken out of the proceeds to pay for professional services. But this is rightly justified. After all, you don’t need to experience the rigors and hardship of a FSBO and might as well get to possible buyer scams. So go find a real estate agent today and let them do all the work for you.

Stephen Morgan writes about a number of Internet Real Estate based issues such as Real Estate Investors, Home Finance and also about Insolvency Services UK and Foreclosure Issues too

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by Mark Plummer
“The main advantage offered by offshore funds is that it can earn and accumulate profits while paying little or no tax. In case the investors reside in jurisdictions that tax such gains, which means most high tax countries, then the payment of dividends, capital gains and interest will only be taxed.

Offshore funds have a clear advantage over their high tax counterparts even if income potentials were similar. We mainly offer financial services in general but concentrate particularly on offshore investment. It is very well known that funds offer the investor an affordable and easy method to access a wide variety of professionally managed investments.

But, the advantages of mutual funds, offshore investment funds and even their onshore equivalents are multiple. WealthCapfund is committed to provide these offshore funds that are structured similar to onshore equivalent. But you can see that they are based offshore or outside taxation countries like US.

Offshore investment funds come in many flavors from income, bond, capital, money, property, equity and rising market funds. They offer potential for growth and returns and are advantageous for their affordability, tax benefits, diversification, regulation, variety and professional management.

Offshore funds also offer the facility to invest in various currencies. The investors who decide to buy an offshore fund have the ability to diversify their investment in different markets and currencies to insure greater safety and security. Such investments have to be declared for residents in most high tax countries. Hence WealthCap provides an opportunity for the non-trading investors to join them by providing managed futures fund.

Keeping your assets offshore or offshore investing is not necessary if you are an expatriate, but it is considered to be the most tax efficient way of managing your money.
Hence if you are interested in offshore investment, just join the WealthCap strategy. Hedge funds can be considered in case tax is not the deciding factor in using offshore funds or an offshore trust.

Offshore funds and expatriate insurance work on same principle to provide the benefits of a well diversified and professionally managed portfolio of investments.

The qualification of a fund as an offshore investment is attained if it is incorporated in an offshore center and intended for use by non-residents of that jurisdiction. In the way of local taxes, such funds usually pay little or nothing, though they may receive dividends or interest net of withholding tax depending on where and which assets they invest there.
The major tax benefits associated with offshore investment are that they can grow tax-free, profits or income can be realized without the deduction of tax at source. But you can see that there are also tax breaks offered to those who invest through mutual funds as well.

Since there is an increase in the purchasing power through pooling money with other investors through an investment fund, the investor has potential exposure to a far broader portfolio of investments than would otherwise be affordable with his level of investment commitment.”

“Asia based independent Offshore Investment advisor.Has been involved in the financial services and financial planning business since leaving full time education in 1977.It was his intention to provide an insight in to both the mainstream products offered by the general population of financial advisors out there and also the alternative investment areas that are often overlooked or ignored. Now at present he is an owner of Partners Financial services.

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by Stuart Langridge
Experience shows that human nature wants the ‘cheapest’ or ‘best value’, but these are not always appropriate. As an investment professional, I can confirm that most members of the public have roughly zero investment skill. This is not meant to be derogatory, just realistic.

However, most members of the public also seem to think that investment is or should be ‘easy’ and as a skill has very little value added. If only it were so.

The reality is that most people have limited financial skills because these things take effort, study and thought. In our time away from an occupation, we want to relax, not analyse annual reports. But to be successful, we need to see a lot of annual reports before we find the one we really like. This is a real chore.

Therefore, the ‘cheapest’ stockbroker, by very definition, is the one who provides the lowest level of service. The cheapest brokerage is probably an online only firm or subsidiary and provides no advice or research. In life, you get what you pay for.

This low price may be very tempting, but if it means that we all need to carry out every piece of research and make every decision unaided, is it really good value?

If an investment is made that proves to be shockingly poor, and loses eighty or ninety percent of the money invested, was it a good deal to only pay a few dollars or pounds for the transaction? If a stockbroker had pointed out just how risky the deal was, might the investment funds have been saved? Would that have been money better spent than saved? If an extra thirty or fifty dollars spent on advice from a stockbroker could have saved one thousand, might that not be an acceptable price to pay?

The advent of the internet has had the impact of making information flow very freely and at very low cost around the world. In information terms, the difference between the ‘haves’ and ‘have nots’ has diminished drastically. In many cases, the difference lies simply between those who bothered to look and find the facts and those who did not. Yet understanding and interpreting the information is still a vital skill.

A different question, to which your author does not know the answer, is this: Has the ability to trade stocks online for under ten dollars or pounds per trade made us any better as investors? If the answer is no, and that as an individual a private investor does not have the required skills to flourish, might a higher price brokerage that offers research and guidance be more appropriate?

Whilst it is true that low cost dealing and lower minimum transactions have made equity markets more available to private investors with a limited budget, this may not be appropriate. Clearly it has expanded the number of trades being made, which stock exchanges and around the world must be grateful for. But, should an investor with very limited funds be investing in the markets?

Such questions clearly bring into focus the different potential level of services from a stockbroker and which might be appropriate for you. Most brokers offer more than one level of service and can often tailor their offerings to the needs of an investor. In the future, it might pay to ask how else a stockbroker can help you.

Stuart Langridge is an experienced private investor, financial writer and investment consultant. To read more of his thoughts about the world of investment, please visit: http://www.stockexchangesecrets.com/stockbroker.html

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by Steve Majors - The Lazy Investor
TIP #1

No money down real estate usually isn’t.

There will usually be some money required to put a transaction together and make it profitable. It may be closing costs, repairs or upgrading, or just some cash to hold the property, whatever. But somewhere, some money will be needed on every real estate transaction.

You may be able to finance every dollar you need, but it can come back to haunt you in the long run in the form of mortgage payments you cannot afford to make.

Follow good real estate principles and do your homework on the financials, including the total cost of that ‘no money down’ transaction.

TIP #2

Not financially analyzing a potential investment property is the most serious mistake an investor, or potential investor, can ever make. You will hear me say it over and over, time and time again - be sure you do your homework on the financial side of every real estate transaction.

Not taking the time to learn proper real estate principles will get you in trouble faster than anything. You must have a high regard for how well the property will perform.

TIP #3

You can raise the rents on your rental property if you have a carport built. If you have a three-plex and your tenants agree to pay you $30 more per month, that is $1080 more net income annually, meaning roughly $13,500 more value added to your property.
($30 x 3 units x 12 months = $1080 divided by a .08 cap rate = $13,500)

If you can build a carport for $4,000 or even $5,000, that’s a good return on investment right? Can you find out what other improvements the tenants want?

TIP #4

Any way you can reduce expenses raises net income. By installing a new $4,000 furnace that saves $800/year on heating costs you turn a $4,000 investment into a $10,000 higher sales price.

To reduce costs and increase profits on your rental real estate you can also add insulation to reduce the heating costs. Or, if you’re paying $80/month for lawn care one of the tenants might do it for $40. You could buy cheaper insurance.

Look for ways you can reduce your expenses and raise your net income on your rental real estate.

Traditional real estate investments call for certain qualities, such as a good credit record, a sound financial position, an appreciable income, bundles of dollars for a down payment, and good lenders by your side.

TIP #5

One very creative method of offering a seller more than they are asking is to offer More Price for Better Terms. In this creative real estate investing method, the seller usually asks for more money in exchange for flexing the terms of the agreement. An example would be where a real estate seller agrees to extend the payment schedule by 10 years in return for a higher total sales price.

By taking payments for a longer period of time, the seller can make more money on payments as well as the overall price increase. It is also a good deal for you because you have a longer time to pay off the debt which relates to lower monthly payments.

TIP #6

The most stressful part of real estate is during the sales phase, where there are so many things that can go wrong and your profit depends on making everything smooth and quick.

Most sales do go through smoothly, yet the uncertainty and anticipation can keep you worrying late into the night. This is especially true if you choose to sell your real estate on your own.

Selling your first investment property can be confusing and stressful if you do it on your own without the help of an experienced real estate investor or agent.

For your first few deals, seek the help of those that have prior experience and never underestimate the power of your team!

TIP #7

Often real estate investors hesitate to ask the seller why they need the money. They continue assuming needs and knitting diplomatic questions to extract information. The best way is to directly ask the seller what they intend to use it for.

Once you know the reason the seller is selling, you can work with them to provide them with the best offer possible, one that works well for you, yet also provides the seller with what they want.

Oftentimes, you can help the seller increase their profits and lower taxes on the sale by simply working the deal to your advantage!

Make sure you always assure the seller of your help provided you know what they intend to do with the cash and they will usually tell you everything you want to know.

TIP #8

Once you begin your real estate investing career, you’ll wonder why you waited so long to begin. Do not allow yourself to become complacent!

Many investors fall in love with their real estate once they see how well it is doing. When cash flow has been going well each year, they fall in love with their tenants or at least get so friendly with them that they do not maintain rental standards that keep the price where the market will bear.

Or, they see how appreciation has worked its course and fail to watch for signs of falling prices because they want to sell only at the highest price (yes, they get greedy…)

Never fool yourself into thinking your property is doing too well to sell or trade up because your cash flow is considerably higher than when you purchased the property or that the appreciation swing will never end. It always does and you as a real estate investor have to pay attention to it.

TIP #9

Selling rental real estate isn’t like selling houses you live in. You can paint any house and get a little more because it looks nicer.

Rental properties, especially larger ones, are different because they are bought by investors who look at income more than new paint or other cosmetic repairs. Look for ways to raise the income on these rental properties and you increase the value to investors which relates to more profit in your pocket at sale time.

There are several ways to increase the income on a rental property including raising rents, adding value to the tenants and facilitating repairs that lower energy costs.

TIP #10

When you are selecting a real estate agent to represent you, be sure that they are willing to provide you with a detailed blue print on how they intend things to go from start to finish.

You and your prospective agent should discuss how they plan to inform others that your property is on the market. Will they post an ad on the Internet, include it in a particular flyer or circular?

It is OK to ask them how much time they plan to devote to your particular situation.

If you are looking to sell your property in a hurry or if you are on a schedule, a part time real estate agent just will not do.

Always be sure that details regarding fees and commissions are disclosed prior to any type of agreement, especially any contractual agreement they ask you to sign.

Above all, do not be afraid to get into real estate investing. Thousands of every day people succeed admirably in this industry every year.

Gather the information you need, then get started making money.

Steve Majors - The Lazy InvestorProfit from Real Estate Investment articles, real estate investing information and DEALS from one of the most creative investors on the planet ~FREE real estate training course~ http://TheLazyInvestor.com

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by Sacha Tarkovsky
Buying property in Montenegro for investment offers anyone wanting to invest in property a superb opportunity for big capital gains.

The country was recently voted one of the top 5 overseas investment destinations and investors are looking at property investment in Montenegro and its advantages longer term and buying in increasing numbers.

Why Montenegro Property Investment is rising in popularity

Many countries that have recently joined the European Economic have seen strong growth in property prices and Montenegro look set to follow this trend.

Montenegro could could join the EU as early as 2010 and has already adopted the euro as its currency.

Montenegro’s property market offers capital growth potential on property values, but there are also great buy-to-let options in the cities and popular tourist resorts.

Montenegro Facts

Montenegro is a small country of just 14,000 sq km. that sits in the Balkans.

It recently voted to become fully independent of Serbia in 2006 of which it had a loose federal union with after the break up of Yugoslavia in 2003.

Montenegro maybe small but has something for everyone from:

The fascinating capital of Cetinje, to rugged mountains, breathtaking river gorges such as the awesome kotor fjord and finally, the beautiful beaches of its Adriatic coastline.

With approximately 200 kms of coast and some of the most stunning bays in the Mediterranean, like the Bay of Becici - Montenegro has much to offer and is far cheaper than its near neighbor Greece.

So why should you buy be looking buying property in Montenegro?

1. The best value in Europe

Capital appreciation according to the World Travel and Tourism Council should see growth of up to 20% between 2005 and 2014; and the “value of Montenegrin property should triple or quadruple, given the huge surge in demand.

2. Tourism set to boom

In 2005 Montenegro was chosen as the #1 Country for tourism growth over the last ten years, by the World Travel and Tourism Council.

The government is committed to the development of tourism having realized that there is exceptional potential in this area.

The potential can clearly be seen in the recent development of the Tivat marina, costing in excess of $600 million and more such developments look to follow.

Montenegro benefits from close transport links to Dubrovnik’s International Airport, which offers competitive and regular flights in and out of Croatia.

Getting Dubrovnik takes only around 20 minutes.

In the near future, the budget airlines are expected to reduce the cost of flying to Montenegro as its popularity increases as a tourist destination.

3. Rental yields and capital growth potential

Montenegro is short of quality summer rental properties to accommodate an ever-increasing number of tourists visiting Montenegro beautiful Adriatic coast.

This means, rental yields should remain strong for the foreseeable future.

4. Montenegro enjoys a low cost of living.

This includes the cost utilities, making it extremely attractive for renting out investment property to the tourists.

5 Montenegro has a booming economy

The economy is strong and overseas investment is increasing, when Montenegro joins the EU investment will accelerate.

6. The buying process is straightforward

The buying process is relatively straightforward and transaction costs and taxes are cheap.

Montenegro property investment looks a great investment for long term investors all the above will come together to create both capital growth and lucrative income from buy-to-let properties.

With average growth of 30% per annum and far higher in many locations and strong growth likely to continue astute property investors are buying property in Montenegro for high rewards and low risk.

If you are looking for the next property hot spot consider Montenegro Property investment and you may be glad you did.

FREE REAL ESTATE ADVICE NEWSLETTERS, PDF, DVD’s AND MORE For more info on all aspects of investing in property visit our website for a huge resource of articles, features and downloads and at http://www.net-planet.org/index.html

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by stephenmorgan
“Drop them now or risk damaging the market”- so say Peers.

Well that’s fairly damning. It would appear that one of the United Kingdom government’s flagship policies is in trouble. Well, there’s nothing new in that but except with this one it could have a knock on effect on every one of us.

You see a policy that is in trouble is the proposal full home information packs. Now students of political history might remember that the proposal for the Home Information Pack was a fairly key component of the New Labour election winning manifesto in 1997.

The idea was, in a nutshell, that home sellers would supply all salient information pertaining to their property in one slim dossier that they would then be able to supply to prospective buyers as a form of pre- legal document.

Became ultimately waltzed to try and stop the practice of gazumping, which is a practicing web by unscrupulous liars and settlers hijack the sale of a property driving the price higher by putting in a higher bid at the last minute.

This practice, government sources felt, was providing a dangerous side effect to the property market but now it would appear that the government potential remedy might prove to be more damaging.

Brilliant. Does it not to make you feel all the more comfortable knowing that we have the future well-being of our country in the hands of such splendid individuals who come up with such well thought out policies. The real problem with the Home Information Packs, it would appear is that nobody knew how much these packs were going to cost.

Now as part of a policy that was introduced to make selling your house easier and possibly cheaper this is a problem. It would appear that industry assessments were suggesting that sellers will have to pay out anything between £400 to £600 for their home information packs and, in some cases as much as £1000.

The other potential nail in the coffin of the policy was the fact that the government dropped the need to include a structural survey in the packs last year as a result of intense lobbying from banks and building societies. It would appear that mortgage lenders were not prepared to rely on a survey, paid for by the seller as the basis from which to lend large sums off money.

Well I could have told then that. How any idiot thought that the provider of a mortgage would rely on information from the seller of a property as the basis for an unbiased valuation is beyond me.

But then I’m not in Government and on the basis of lunacy like this, glad to be well away from it.

Stephen Morgan writes about a number of Internet Real Estate based issues such as Real Estate Investors, Home Finance and also about Insolvency Services UK and Foreclosure Issues too

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