Why Invest in Turkish Realty?

Writen by Phillip Keates

With Turkey’s membership of the EU pending, the eyes of a great many people are now focused on Turkey, and the vast opportunity which exists there for investment in both residential property, land development for tourism or for commercial and industrial uses.

Turkey has a great deal to offer investors, land prices are still affordable and construction costs are one of the lowest in Europe. Over the past few years the Turkish construction industry has been heavily influenced with the introduction of construction methods brought in from countries such as the United Kingdom, France, Denmark and other countries with a strict building code. Until recently Turkey was relegated to the lower end of acceptable building standards, with mortgages unavailable in the country, those fortunate enough to have the cash to buy a home of their own have been prepared to accept a quality that would see many buildings condemned in other parts of Europe.

Foreign construction companies are introducing standards of both build, and finish, that has not previously been seen in Turkey, these standards will rapidly become the norm for the industry. The climate in the Antalya region provides for a ten month summer season, this is ideal for those looking for a second home or a property to service holiday lettings. With some question over the viability for foreigners to buy in Turkey, the market has slowed somewhat, however, the government have now made it clear in a white paper to be released very shortly, that foreigners will be welcomed and purchase will be simplified for foreigners, with a few exceptions.

There are areas throughout Turkey where the immigrant population has outweighed the native, in such areas there is certain to be an exclusion for further sales to foreigners. This is not a bad thing as it will serve to open up regions previously unexploited, regions which offer the same natural resources, beaches, mountain views and history, as the more favoured regions to date. It is not merely the climate which attracts foreigners to Turkey, the gastronomy is pleasing and acceptable to most tastes, the Turkish people are friendly and accommodating, few countries can offer the opportunity of winter sports in the mountains in the morning and sunbathing on the turquoise kissed shores of the Aegean or Mediterranean in the afternoon. There is a down side, isn’t there always, the down side is the prohibitive cost of imported goods, in particular luxury goods, cars, electronics etc., but Turkey has her own produce which is as good as anything you could buy elsewhere. Food is inexpensive and the variety is vast, the quality of fresh produce is better than most you will find anywhere else in Europe.

Many ask how safe the legal system is in Turkey, the answer is simple, it has one of the best records for fair and appropriate legal representation in Europe. Most transactions are conducted by a registered Notary with little need for a formal lawyer or Solicitor, although this option is there for those who feel more comfortable using an accredited legal representative. Most legal transactions are conducted at the Public Notary with an official translator present, of course the translator’s fees are charged to the client but this does provide the peace of mind in knowing exactly what you are signing before you do so. For information regarding current fees payable on property sales and purchases, it is strongly recommended that you consult the Turkish Government links on our web site www.pasharealty.com/govlinks.htm.

When buying property ensure you do so through a company displaying the TPP code of practice, this is a self regulating body established to ensure the high standards of the industry are observed.

Pasha Group http://pashacorporation.com
Pasha Realty http://pasharealty.com
Tel: (0090) 242 324 4564 / 65
Fax: (0090) 242 324 4989

Asbestos & French Property Surveys

Writen by John Marshall

As you may already have discovered, you have to be licensed in France to practice many trades and professions. This is not to give the bureaucracy more work, but to protect us, the consumers. My favourites, which I discovered when attending a training course to get a gun permit, are mole catchers who are also entitled to wear a very smart uniform. When you sign for your property you may get a report from the licensed asbestos, termite and lead inspector or “expert”, even before you meet the licensed plumber or gas fitter. Their report will come with a copious number of pages which not only describe what they have found but will also advise you upon the implications. My clients often ask me to explain these reports to them, and whilst I am not a licensed inspector I try to simplify some of the jargon for them. Nothing can be as a good as a translation of the entire report, by a licensed translator of course, but here are a few basics.

Dependant upon the d

Bordeaux A Place For Property Investment

Writen by David Seymour

Bordeaux is one of Europe’s finest cities to live and work in. It is unarguably the wine capital of the world and rests gracefully as a cultural centre dominating South West France.

It is of little surprise that one will find some wonderful property for sale in this corner of France; with good opportunities alike for property developers and investors.

Located less than an hour from the Atlantic coast and the chic resort of Arcachon with it well known marina, a little over two hours from the Spanish border and about the same from the mountain ski resorts in the Pyrenees, Bordeaux offers an attractive place to live and a vibrant life style. Bordeaux can say with some pride that it is a city that works but also one that is a pleasure to live in.

Bordeaux has not lost its splendor in the modern age, displaying a fine number of historically recognized monuments and highly ornate gothic cathedrals with their towering spires. Many of which are lit up at night, displaying their beauty and creating a desirable ambience across the city. Three of the monuments in Bordeaux are also honored and justly so, as World Heritage Sites by UNESCO.

With magnificent 18th century buildings distinguished by their classical facades and grand squares (one of them is perhaps the largest in Western Europe), Bordeaux is very much a living city, offering a modern infrastructure and transport system to its inhabitants – it has been unafraid of change. As such, Bordeaux remains in renaissance with major investments recently made in a new tram system, high speed internet, cycle ways and a complete renovation of the docks and quaysides along the river Garonne. The city now buzzes with bars, restaurants, cafes, chic boutiques and a highly recommendable nightlife. And as a result, the rejuvenation has produced an attractive market for investors with double digit gains in bordeaux property the last 5 years.

With a far sighted program of redevelopment, the River Garonne is once again incorporated into the heart of the city. It no longer acts as an economic barrier between the right and left banks of the river. The quays on both sides of the river have become the setting for such noteworthy events as the F

Clouds on a Title

Writen by Martin Lukac

Before you close you need to be sure that there are no clouds on your title. It is at closing that you will be handed the title from the previous owner, one that has no liens and that is marketable and one that has no clouds. If your title did have a lien it would mean that money was owning, money that some could try to hold you responsible for. In fact those who are owed money could foreclose on your new property if the debt is not paid off. If you are going to pay this amount you can do it at closing.

There is more than one kind of lien that could cloud your title and keep it from being marketable. A construction lien, which can also be called a mechanic’s lien is a debt that is still owed to the contractors that build the house. This same type of lien can be on the title from suppliers if they have not been paid. In fact, a lien could even be placed upon the owner’s property if the contractor fails to pay the subcontractors for any of their work.

How a lien is handled will differ from state to state. In many states the person or company that is going to file the lien must notify the owner while in other states this is not at all necessary. As an owner you will need to talk to all of the subcontractors and suppliers yourself in order to get them all to sign a release of lien form. Only then should you even consider paying the contractor for their work. This is the best way that you can protect yourself from any liability.

There are other common types of liens like divorce liens. These liens come up in situations where a couple gets divorced and one of the pair continues to live in the house for a while. When they do get around to selling the house they might try to keep all of the money for themselves. If this occurs then the other party can put a lien on the property in order to try to get their share of the money from the sale. Another lien that is somewhat related to this one is a child support lien. If one parent is not paying the support that they should a lien could be placed on the property, which will keep it from being sold before the debt has been paid in full.

You will also find liens on condos that are associated with the homeowners association. IF the owner had not paid his or her dues there could be a lien. TO find out if there is on the condo you wish to purchase you will have to make sure that your escrow agent gets a certificate of payment from the association itself.

If you find a cloud on your title and you do not know what to do about it then you need to contact your lawyer. He or she will be able to help you determine if it is your responsibility or not as well as help you to clear the cloud once and for all.

Martin Lukac, represents http://www.RateEmpire.com, a finance web company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies! Visit http://www.RateEmpire.com today.

10 Ways to Buy a Home With Little or No Money Down

Writen by Alexis Dey

There are many ways to buy a home, even if you have little or no money to put down. Here are a few of the basics:

1. Sweat Equity

Sweat Equity is a way to get a home by trading work for equity in the house. This could be used for a down payment or for purchase later. This is a great technique if you are handy with tools, yard work, and paint.

Look for fixer uppers in neighborhoods you are interested in. Many times these homes will have a hard time selling and the owner is ready for just about any offer. You will find these houses ranging from just needing a little “cosmetic” work like landscaping or painting, to totally trashed out houses in need of some serious renovation. If you are into repairs, this is a great way to get a home for a good deal.

If you are not skilled at repairs and renovation, be careful about fixer upper homes. They could end up costing you quite a large amount of money to pay others to fix.

I also recommend getting a home inspection so that you know what exactly you are in for before you begin.

2. Seller Carry Back

Look for a home with an assumable loan. Instead of buying out the owner’s equity, ask the seller to carry back a second mortgage for the rest of the money owed. If you can get the seller to carry all of the rest, you can get the home for no money down.

3. Offer an Object for the Down Payment

Offer something other than cash (land, a car, a boat, or valuable collectibles) to the seller instead of a cash down payment. This is why it is important to listen to sellers. Find out what they want and need. Maybe you have (or can get) just what they need. For instance maybe they wanted to use the down payment to buy an RV and it turns out that you just happen to have one you don’t need. Offer that vehicle as a down payment, and it saves you from coming up with the cash.

4. Offer Services for the Down Payment

Offer your services or expertise to the seller in lieu of a down payment. Some examples include $10,000 worth of auto services if you’re a mechanic, dental work if you’re a dentist, desktop publishing services if you’re a designer, artwork if you’re an artist or legal work if you’re an attorney.

5. Foreclosures

Look for foreclosure properties that require little or no down payment. Some lenders and government agencies will let you buy a foreclosure with no down payment if your credit is good and they’re anxious to have the home occupied, or if you have skills (carpentry, landscaping or even painting) that you can use to increase the home’s value. Distressed properties assume with little or no down to save foreclosure.

6. VA or Other No Money Down Loans

Look for conventional loan programs such as VA or FHA that require little or nothing down. VA loans have helps countless veterans get into their homes. There are often programs available to first time buyers or people who are distressed (such as with Hurricane Katrina) that will help people get into a home with little money down. You usually will have to qualify for the loan with the bank, though.

7. Find an Investment Partner for Equity Sharing

Look for an investment partner who’ll put up some or all of the cash in an equity sharing partnership. You make the monthly payments and the two of you split the eventual resale profits.

8. Wrap Around Financing

Wrap around financing is where you assume a seller’s VA Loan by doing a new Contract for Deed. Since this contract is flexible and does not have to follow the old loan, you can ask the seller to carry not only the loan amount, but the rest of the purchase price of the house, letting you get in with little or no money down.

9. Rent to Own or Lease Option

This is really is one of the best ways to get into a home of your own when you can’t get a bank loan. Remember that you may still have to get a loan down the line. If you have a lease option for 5 years, at the end of that time, you will need to purchase the house, so you can use the time to fix your credit, or use one of the other options that are discussed in our book to purchase the house at that time. You can always try to negotiate another 5 year lease option if you need more time.

10. Government and Community Down payment Programs

There are many community and non profit organization programs out there to help people get into homes of their own. Many of these do no require any money down.

There are some organizations and programs that will pay for some or all of the down payment for you. Generally these are for lower to moderate income individuals, but these days that includes a lot of people. You also usually have to be able to qualify for an FHA loan (which is somewhat easier than a conventional bank loan.) If you have been unable to get into a home because you don’t have enough money for a down payment, then maybe one of these programs will be for you.

Below is a list of organizations that have down payment assistant programs:

AmeriDream Inc.
http://www.ameridream.org

National Home Foundation
http://www.nationalhomefoundation.org

GiftAmerica Program (GAP)
http://www.giftamerica.org

The Nehemiah Program
http://www.nehemiahprogram.org

New Song Down Payment Assistant Program
http://www.buyers assistance.com

Equity Grants
http://www.equitygrants.com

Realty America
http://www.realtyamerica.org

Homes For All Program
http://www.ezdownpayment.com

Also check in your local area, because many communities have similar programs of their own.

This has been an excerpt of the FREE ebook by Alex Dey called “Buying a Home When You Have Bad Credit“. Copyright © 2005 2006 Mohave Publishing. All rights reserved.

Don’t let bad credit stop you from buying a home. Check out the ebook at http://I can buy.com now to find out how!

PreConstruction Land Investing Why you Should Consider it

Writen by Doug Lasley

Most people think investing in land is only for big time real estate developers looking to buy large parcels of land for commercial development or the subdivisions of homes. What they don’t realize is that investing in land is one of the most sound investment strategies available today and is a viable opportunity for most investors, both large and small.

So why should you consider investing in land, rather then an already improved real estate property like a single family home, apartment building, commercial structure or other improved property? Undeveloped land offers several investment advantages that can not be found in most developed real estate.

The advantages of investing in land

* Higher profits Annual Return on Investment

* Ground floor with less risk

* Superior financing terms

* Greater flexibility for maximizing value

* Simple investment management

Regardless if you are looking for a real estate property for investment purposes, or as a site for a future home; investing in land is proven to offer a safer and higher return on your investment than any other financial instrument available today. Traditional investments (stocks, bonds, etc.) over the past couple of years have seen average returns of 4 8%. In contrast, real estate and land investments have realized cash on cash returns of greater than 200%; with less risk.

Why Invest in Pre Construction Planned Developments?

Real estate investors looking for “ground floor” land investment prospects are finding pre construction planned developments to be the perfect opportunity. With the majority of land projects being in primary and secondary home locations, a smart investor gains the benefit of being in a desirable neighborhood location with only a small percentage of other investors (less tenants and more owners means more stability).

With price appreciation of second homes rising faster over the past two years (17 percent) than for primary homes (15 percent), many homebuyers see owning a second home as a “you can’t lose” proposition, enjoying the fact they can have an outstanding investment while enjoying also great second home location to use for themselves and family.

Real estate experts agree that the near term outlook for the second home market is strong; even stronger then the primary home market. So what is fueling this booming market for second homes, especially in Florida and the Carolina’s.

The Baby Boomer Factor

* Baby boomers make up an incredibly large % of our population; all moving towards retirement age over the next 15 years.

* About one half of these people have no intent on staying in their current locale when they retire.

* Even though many boomers are ill prepared for retirement, there is still a significant % with tremendous wealth;

* Many of these people want to live in places with good “lifestyles”, with 42% of them choosing the South Atlantic area for their retirement.

According to American Demographics Magazine, “The south is the center of a real estate boom of monumental proportions”. Searching for a warmer climate and a simpler way of life during retirement are their primary motivation. With close to 75% of potential retirees expressing an interest in moving below the 35th parallel, an estimated 50 million people could be moving to the south over the next 20 years.

It is this Baby Boomer demographic that is driving the appreciation and sales volume of second homes in the south. This marks a new and unprecedented era, as it is the first time in history we have ever seen this kind of significant shift in real estate buying patterns. As we are currently in the very early stages of this major demographic shift, the smart investors are taking advantage of this knowledge, purchasing now and have the peace of mind of a safe and reliable exit strategy when they want to sell. In addition, the smart investor will experience dramatic appreciation during the holding period while reducing their overall risk by focusing on real estate purchases in the South East United States.

At Buy Vacation Condos, we can assist you with the purchase of the perfect parcel for your investment portfolio or future residential home site in one of these sought after developments. As property values continue to increase at a rapid rate, the time to make your investment is now.

Additional Reasons to Act Now

* Lock in low payments now. Act now while interest rates are at the lowest they have been in 20 years.

* Little to no effort required (turn key investment).

* Save money by investing at today’s pricing. As more and more investors are taking advantage of these opportunities, the price points continue to rise, sometimes on a monthly basis.

* Availability; the best opportunities available today are the ones that are typically gone tomorrow. When you hesitate, you could miss out on a one of a kind opportunity.

* Invest now at pre construction prices. The smart investors will purchase their property before all the amenities are in place. Amenities like roads, golf courses, schools, club houses, recreational facilities, nature trails, marinas, boat ramps, swimming pools, etc. all add value to the property. By investing now, you can enjoy pre construction prices, which are almost always guaranteed to be below the selling point once the amenities are in place.

So whether you are looking for land in a luxury planned residential & resort community, waterfront investment property, golf community land properties, or land sales in pre construction development sites, the LANDDepo.com team is here to help. Bringing you unique, proven investment opportunities from the ocean, to the mountains and every place in between. “Real Opportunity for Real Investors”.

Doug Lasley (Real Estate Broker Associate) info@BuyVacationCondos.com http://www.LANDDepo.com 407 876 5771

Rent To Own Homes Explained

Writen by Bob Pappas

If you desire to own your own home but are unable to secure conventional financing today, leasing a home with an option to buy may be your best option. A lease purchase can make your rent money work for you instead of making your landlord rich. Typically rent to own homes offer rent credits that reduce the final purchase price!

Here’s how it works:

A home is made available via a standard lease with one important addition. Included is an option to purchase that home at a specified price over a specified time period (usually one or two years). In order to acquire that option, the renter/buyer must pay a one time, NON REFUNDABLE, fee called the option consideration. The exact amount is negotiable, but it is usually ranges from 2.5 to 7% of the purchase price. A fair contract will credit the buyer 100% of that option consideration upon closing of the sale. Furthermore a negotiated percentage of all rent payments should be applied toward the purchase price of the home. Some typical terms and conditions one might expect to find in a contract follows:

1. In order to receive a rent credit of 50%, time is of the essence. You MUST pay your rent on or BEFORE the due date of your lease (typically the 1st of the month). This means it must be received by the lessor (landlord) on or before the due date. Any payment received after the due date will result in a 0% rent credit for that month, a late fee may apply and you will not be building any equity.
2. Maintenance is the responsibility of the Tenant Buyer. You are now renting to own and homeownership requires maintenance. This includes things like broken windows from stones or baseballs, clogged drains, peeling paint, broken appliances, burnt out bulbs, lawn work/snow removal, etc. If any major repairs are required to ensure habitability, the owner remains responsible.
3. You need to have Option Consideration. Option Consideration is typically 2.5% to 7% of the purchase price of the home. It is a non refundable payment, of which 100% is credited toward the purchase price, which binds the lease purchase contract.

Here’s an example transaction:

We have a nice 3 bedroom, 1 bath single family home located in a near west suburb of Chicago in a great neighborhood with good schools and a strong community. It has been freshly painted, cleaned, and is ready to move in. The purchase price will be $215,000. Monthly rent payments will be $1,500 and you will receive a 50% rent credit ($750 per month). You need between 2.5% and 7% in up front Option Consideration. Let’s say your budget allows for $6,000 for Option Consideration. This equates to approximately 2.8% ($6,000/215,000). You will also need $1,500 for the first months rent for a total initial payment of $7,500.

Please note: Option consideration is not a security deposit. It is a non refundable payment toward the purchase price and is 100% credited toward reducing the price of the home. Now suppose you paid all your monthly rent payments on or before the due date and you choose to buy the rent to own home at the end of the 12 month lease purchase contract. You will have $15,000 in equity before you even own the home! Here’s the math:

Lease Purchase Price $215,000

Less: Option Consideration paid at lease signing $6,000

Less: 50% rent credit of $750/m * 12 months $9,000

Net Purchase Price after credits $200,000

You started with $6,000 and by paying your rent on time; your equity position grew 150% (another $9,000) for a total of $15,000 with 12 months. Not a bad deal! Many people find it nearly impossible to save $9,000 in a year with all the costs of living constantly on the rise.

What’s the catch?

Now you may be thinking, “OK, what’s the catch? This sounds too good to be true.”

Answer, there is no catch.

There are many possible reasons a landlord/seller may want to enter into a rent to own agreement. Some reasons may be:

1. Needs to maintain ownership for at least one year for tax purposes.
2. Unable to get a fair price due to local conditions.
3. Tired of performing minor maintenance.

Furthermore, when one sells a home through a realty service, a commission of 5 7% is typically paid. In the example above, this can cost more than the rent credit. Since realtors are usually not involved with this type of transaction, there is no commission and the landlord can afford to pass along the savings to tenant/buyer in the form of rent credits.

Also, when the Tenant becomes the Tenant Buyer (via rent to own), there is an immediate sense of pride in ownership. Tenant Buyers add value to the community. They take care of their future property, make improvements, and feel good knowing their rent money is working for them (reducing the purchase price) rather than just making their Landlord rich.

There are also many advantages for the renter:

1. Build equity toward home ownership.
2. No bank or finance company involvement.
3. Poor credit history may not be an issue.

Bob Pappas is an associate of JSC Rent To Own Homes, a unit of JSC Investments LLC. Bob acts as an investing third party in certain situations where either a renter would like to purchase a new house or the house he/she is currently renting, or a seller wishes to sell his/her property through a lease purchase agreement.

http://www.jscinvestments.com/

Beware False Price in the Deeds in Bulgaria

Writen by Jain Goodall

Overseas buyers looking to purchase property in Bulgaria frequently hear that the regular practice is to put a lower price in the deeds to save money. Agents and even lawyers often assure the purchaser that most property transactions in Bulgaria are conducted precisely in this manner. The overseas buyer often poses no more questions, because they believe this information to be correct.

How wrong they are there are such enomous risks to the buyer; it’s really important that people don’t get tricked with this.

Putting a lower price in the deeds during the last stage of the conveyancing process in Bulgaria is generally done because the vendor wishes to avoid taxes and fees which are due on final signing and which depend upon the property price which is declared in the deeds. The higher the value of the property, the higher the taxes and charges. But by declaring a lower price in the deeds than that which is actually being paid is an evasion of Bulgarian law and creates an ‘invalid’ or ‘fake’ deal and can lead to serious consequences.

From a civil law point of view this kind of ‘fake’ deal would be considered null and void anyway. To add to this, if you were found guilty of having been party to such a deal you could be charged with a fine of up to 1,000 pounds and even imprisonment of up to three years.

It is also a common practice at the moment with Bulgarian constructors who are trying to avoid VAT which has to be paid on new build or off plan sales. They offer the potential of putting in a low and false price in order that they do not pay all or any of the VAT due.

For the overseas buyer, one can only imagine what any mortgage company might have to say about all of this if at a later date they become aware of the property being under declared on the deeds! Bulgarian estate agents often say, ‘oh well, don’t worry, you can do the same; just find someone else to pay you part in cash later’, but it’s not that simple. With European entry looking increasingly likely in the immediate term, it won’t be so easy to find a buyer willing to do this and people trying to operate in this way will find it increasingly difficult to do so. Any buyer really has to ask himself whether he would do this in Britain with a similar proposal from an agent, paying in some cases up to 70% of the price in cash and then hoping to find a future buyer who would do the same.

Even if after all this, anyone still thinks it’s a good idea to put a lower price in the final deed, then let’s take a look at the financial implications on just a small scale when it comes to re sale. :

Firstly, if the full purchase price is declared Price 40,000 Taxes and Notary Fees about 3.5% 1,400 Re sale Price 60,000 Profit 20,000 Gains Tax at 15% 3,000

Secondly, if a lower price is declared (the real price remains at 40,000 as in the first example above)…
Price 20,000
Taxes and Notary Fees about 3.5% 700
Re sale Price 60,000
Profit 40,000
Gains tax at 15% 6,000

Initially,it looks good 700 pounds is saved on the initial taxes and fees when buying. However, when it comes to re sale there’s an additional tax burden of 3,000 pounds!.

The best advice we can give to anyone is to get your own independent lawyer who will act in your interests. Buyers should not be tempted by those that say this kind of practice in Bulgaria is above board, it’s certainly not and purchasers could end up in real difficulties all round.

Quest Bulgaria is the specialist english language magazine for those interested in buying property, moving to and investing in Bulgaria. Impartial and in depth articles written every month by practicing lawyers, accountants, real estate and other experts. No nonsense, factual and impartial.

Monthly printed magazine : online advice board with practicing professionals such as lawyers, accountants… : discount scheme for all your Bulgarian property needs

Contact :
Jain Goodall, Marketing Director
Quest Bulgaria
Sofia
Bulgaria
Tel : 00 359 2 851 90 65
GSM : 00 359 878 227 222
http://www.questbulgaria.com

Questions You Always Wanted To Ask A Master Builder But Never Had The Chance

Writen by Colm Dillon

Building a house (or lots of them) seems to be an area of knowledge that is kept secret (insiders only), with clients kept in the dark and fed on expensive “cow dung.”

A while ago I asked my US readers of my e book, “Residential Development Made Easy” for questions they would like to ask a Master Builder.

I found a unique individual, Leonard Manion, who has been very generous with his time (he builds in 48 States) who gives answers straight from the shoulder with apologises to no one.

I must also say that few builders would spend the time to cater to these questions and answer so frankly.

Leonard answers are denoted by the ProCustom Home tag. I have kept the questioner’s identity private, however the answer has been send to them by email.

Question 1.

My wife and I are planning a new small retirement home. We have in mind a couple of builders in this area, and I plan on asking him these questions.

My wife is very adept at planning and researching. Under what circumstances do you recommend we hire an architect? and Why or why not? (This is not a loaded question. I am not an architect and neither is my brother in law. We would prefer to build without hiring an architect.)

Master Builder Replies

This would depend upon your budget. Some architects charge as much as 10% of the budget of a home to do the plans. We don’t like to place our clients into a position of hiring an architect until they really need one.

First, the loan, then the land, then the architect. In our case, we have in house architects and structural engineers. We recommend our clients to hire a Interior Designer (ASID) and have them work with you to design the floor plan which is uniquely suited for how you and your family use space and the style you like.

Armed with the floor plan you would then send it to us and we would create your architect blueprints from it. Blueprints are part of the quote we provide our clients. This way they don’t have sticker shock from a local architect.

Question 2.

How much price and quality research re materials can we expect our builder to do or to have done?

Master Builder Replies

This depends upon the builder you hire. For the most part, you can’t expect too much. Most builders work in their comfort zone. With materials they’re used to working with. They usually won’t try something else unless insisted upon by the home buyer or developer. And, then they usually hire an outside source to do this.

In our case, we use current technology and one of the reasons why we are both profitable and successful is that we keep abreast to new technology and want our buyers and developers want in their homes.

Question 3.

Is it reasonable for us to ask our builder to identify his subcontractors and allow us to talk with the primary subs before we contract (and after)?

Master Builder Replies

It is reasonable, however, not very realistic. Subs come in and out of a job site. If one is not available another one is called in.

Instead, you may want to concentrate on ensuring the builder has the proper permits and insurance for building. Especially for workman’s comp and for liability.

What few people realize is that they can be held accountable if the builder doesn’t have the correct insurance. Let’s say that a child comes on to the site after the builder has left. Decides to climb to the roof and jump. Guess who’s liable? Check the references of others he’s built for.

Question 4.

What do you, as the builder, expect the homeowner to do (other than to pay you as and when agreed).

Master Builder Replies

As the builder, we expect the home buyer to be reasonable and realistic in their expectations. We have made is easy as possible to work with us. We can provide financing required.

We can provide the Realtor to assist you to finding the ideal location. We can tell you the appraised value. And, we can help you find an Interior Designer to help you come up with a visual floor plan.

The biggest problems that most builders run into is when the home buyer to either change what has been agreed to or is unrealistic in what they want. This is why we have our home buyers sit down with an Interior Designer.

The ASID can sit down with you and help you visualize exactly what you want and help you make any compromises you may have to make.

It is very expensive for to make changes. Let’s say that you wanted a 17×20 kitchen. Sounds like a big kitchen. Probably too big. However, once the cabinets and appliances start coming in you realize that it’s too small and want the kitchen to be bigger.

This may cost you an extra $50k to make those changes. You can save yourself a small fortune by first working with ASID on floor space, storage, placement, design, and style.

Colm Dillon, $1.2 Billion Developer & Author of “Residential Development Made Easy,” The Only E book In The World That Teaches ‘Individuals’ How To Develop Residential Real Estate, Has Readers In All US States And 83 Other Countries Growing Their Wealth.

Learn More About What This “Guy Who’s Done It” Has To Teach You On His ‘No Padding’ Web Site: http://www.realestatedevelopmentcoach.com/ez

His Motto: Learn It The Right Way, The First Time