The real estate industry and its opportunities 4
Working on auctions and excerpts is a very analytical, dynamic and challenging job. It is actually a real-estate opportunity, for anyone.
Let me explain to you why.
First of all you need to properly analyze the auctions to evaluate the opportunities. There are several Websites where you can do this research.
You must evaluate the size of the apartment, its conditions, any discrepancies, etc.
Above all you need to count the restructuring costs and the selling prices within that neighborhood.
Do not just consider the Web, which is an incredible source of information.
Go and talk to the real estate agents, they are the ones who map the neighborhood, know the situations of the condominium.
Ultimately the sales prices.
Then you will need them for resale, so don’t worry, they will listen to you, because you are actually bringing them work.
Having done all this, book the visit, it is essential to see the apartment to understand its status.
During the visit speak with the official, try to gather other information that you do not find in the appraisal: type of family, country of origin, the number of people who visited the property.
This will help you understand if it is worth participating in the auction.
Why? Because if many people participate, you will hardly be able to win it at the maximum price you set.
Just remember, for it to be a good deal for everyone (you and your investors) there must be a congruous difference between the purchase and the final selling price.
So once you checked your budgets you will decide whether to participate in the auction or not.
The auction is like a gamble, a sleight of hand, it’s you with the others and everyone has their own motivations.
Buying a house for their son, buying the dream home for the newly-married couple, making an investment in real estate.
Consequently different goals, different spending needs.
Also in this case it is a question of numbers, the more auctions you select and the more times you participate, the more chances you have of winning one.
When you decide to participate in the auction, there are some practical activities to do.
Based on the information on the appraisal, you will have to collect a cashier’s check to be raised in the name of the sales representative.
Then you will bring it to the place indicated (usually at a law firm) together with the form containing your data (or the offerer’s).
If you are the offerer you shall attend the auction (if the case be a person can accompany you).
Currently there are also online auctions, the procedure is the same, what changes is that the auction will take place via internet and you can comfortably follow it..from your home!
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