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Useful tips when buying an apartment

The process of buying an apartment always requires from you plenty of efforts, time, and attention.
So, buying an apartment, as a rule, consists of several stages: finding a suitable option, checking out an apartment, checking documents, legal paperwork and so on. In case you are planning to live with a roommate, you will also have to find a suitable neighbor since there are plenty of roommate types and not all of them can be ideal for you.

The first step is to choose what type of property you are interested in: whether you want an apartment in a new building or you would rather opt for the sphere of the secondary market.

Then you should decide on a district. When choosing a district, you need to follow the following criteria. The most common ones are: proximity to your workplace, transport interchanges (subway, buses, taxis, etc…), proximity to a kindergarten (school), the environmental situation, and so on.

Check if there is a park, a green area, a children’s playground etc. near the apartment.

Having chosen a district, you can proceed to choosing an apartment. The convenience and the value of property are determined by a number of parameters:

  • remoteness from the city center;
    • prestige value and ecological cleanness of the district;
    • distance to the nearest transport stop;
    • floor, number and the size of rooms;
    • layout of rooms, kitchen, bathroom and hallway;
    • type of restroom (combined or separate);
    • presence and size of balconies, loggias;
    • availability of the phone;
    • ceiling height;
    • condition of the apartment;
    • condition of the yard, porch;
    • availability of the elevator;

The greatest demand is traditionally on one-room and two-room apartments.

An important stage in the process of buying an apartment is an examination of the future apartment. When examining an apartment, it is important to see all the advantages and disadvantages of an apartment.

There are several hidden flaws, which can be recognized before buying.

  1. Pay attention to the thickness of the walls, since if the walls are too thin, it might be quite cold, or damp in the apartment.
  2. Look where the windows look on. Traditionally east and west are the best options. If the apartment is located on the top floor, it is important for the sun not to shine all day. In summer, it will be impossible to live in this apartment.
  3. The defect, which is not visible is the so-called fungus on the walls. It may well be hidden by the wallpapers. This fungus is formed in long empty, unheated homes. However, it is very difficult to get rid of fungus. So you should check the walls.
  4. If there is a construction project being done near the apartment, be sure to inspect the house for cracks, check out the bathroom etc.

As practice shows, all the small defects are difficult to detect, however, they may not be a problem for you, if you plan a renovation.

Finally, having picked an apartment you need to check personal documents of the seller and the documents confirming their right to the property.

If you still have not found a suitable option, we suggest you check out some condos for sale online to choose the best dwelling for yourself.


Common Fears Homebuyers’ Face

Common Fears Homebuyers’ FaceReady to buy a home, but keep having doubts and fears about whether you’re making the right decision? Don’t worry! It’s completely normal to experience nerves or anxiety when making such a big decision. Here are some of the most common fears a homeowner may face, and what you can do to get over them:

“My agent is not looking out for my best interest.”

You may fear that the agent you’re working with is more concerned with getting a large commission check than he is with finding your dream home. This is a common concern, but one that can be prevented by doing your research upfront. Always ask a real estate agent for references and talk to people who have worked with him before. Google his name to see what kind of reviews he has online, too. When you look into an agent’s history, it’s easy to spot the ones who are only in it for the money.


“I’m not going to find a home within my timeframe.”

The closing process is unpredictable and could take months to get through, so this is a legitimate fear for many homebuyers. Before you start panicking, just think of a back-up plan. If your lease is ending and you need to move into a new home before it’s up, talk to your landlord about paying month-to-month until you’ve found a new house. Or, consider putting your stuff in a storage unit and rooming with a friend for a few weeks until you can move in.

“The house has damages that I can’t see.”

Buyers sometimes worry that they’re being tricked into buying a home that secretly has major issues such as leaks in the roof, structural damage and mold growing in the walls. This is especially true of buyers who get a good deal on a home and can’t believe their luck. They think there must be something wrong with the home, otherwise it would have been sold for much higher. Luckily, buyers shouldn’t fear finding a major issue after closing as long as they take the time to get an inspection by a professional. A professional home inspection will uncover these issues that buyers fear discovering after they’ve moved in, so if you had an inspection and nothing turned up, then you have nothing to worry about.

“I don’t want to lose the deposit.”

Buyers are usually required to put money into an escrow account after their offer has been formally accepted by the seller.  But, many buyers fear that this money will never be seen again if the deal falls through for a reason out of their control. Don’t worry, buyers rarely lose their deposit unless they miss a deadline or back out of the deal. If the seller backs out, you won’t lose your deposit, so there’s no need to panic.

Want more real estate advice from professional real estate agents? Get the honest answers that you deserve. Contact our team of real estate experts at Coast 2 Coast Realty who have years of experience working with buyers and sellers in the Tampa Bay area.

Know How Boutique Real Estate Firms Can Proved to Be a Superior Choice for You

According to the notable real estate personality Jon Bourbeau that a large number of people are having a major misunderstanding that boutique realty firms are intended exclusively for high-end clients. Another erroneous belief of them is these miniature companies don’t have the required infrastructure so that they can cater clients’ need in this high competitive industry. Interestingly, the reality is boutique real estate firms are capable enough to offer their clients with all sorts of property related solutions, and even in a better way, opposed to so-called realty business houses. Yes, they might be small in structure but not in expertise and excellence, and most boutique firms are led by highly expert and well seasoned realty business people.

Jon Bourbeau, inceptor and chief executive of Pacer Partners has prepared his boutique real estate and asset management company with his best enterprise, expertise and attachment and backed by a dream to position his company as one of the most specialized real estate solution provider groups. As of day, the company has been operating from its offices located in New York City and Miami. Mr. Bourbeau, who is acknowledged as one of the most consummate realty professionals came in the industry’s limelight following his joining with the global commercial property management company Newmark Grubb Knight Frank as its senior leader when he was 29 only. And within next five year, making everyone surprised in the industry he occupied the top position of NGKF group, and shouldered responsibility as the Vice President of this internationally leading realty house.

In his personal blog Jon Bourbeau boasts that hiring services of a reputed boutique real estate company is likely to be experimental especially to all those who used to obtain property related solutions from big companies or traditional houses. Regardless of the procedures followed for finding, listing or evaluation of the properties are somewhat same, however, the brokers associated with boutique firms don’t run after making their monthly quotas. These relatively small firms work as a team and are aiming to produce excellence apart from magnitude. Boutique real estate business is ideal for those real estate professionals who are interested to sharpen their excellence in the realty industry.

After Reaching Miami from New England, Mr. Bourbeau served for some of the nation’s renowned groups including financial establishments, corporations, and universities. In Newmark group, the activities that used to fuel him were finding solutions to complex real estate projects or most challenging property management issues. In fact, he proved him as a great problem solver, negotiator as well, his effectiveness in major deal closing. His professional approach for accepting challenges and meeting solutions, in due course enriched his knowledge in capital market, acquisition, real estate valuation, bidding and deal closing, which are the integral part in this business. Jon Bourbeau is fond of writing and giving out his ideas about capital market, leasing, real estate industry and more. He is a regular writer in the famed Wall Street Journal. He has received plentiful awards like Power Leader, Power Broker, 40 under 40, Broker of the year 2012 by NAIOP for his amazing performance in real estate industry.



5 Breathtaking Ways to Buy Land

People don’t tend to lose interest in built-up property that they own; they do tend to feel this way about land, however. Many who own raw, unbuilt land have little idea what to do with it. They simply have no appetite for the work involved — clearing the land, building access roads and buildings — before they begin to profiting off their investment. Many of these owners will readily respond to purchase offers. You only need to go to the county courthouse, pay about $25 for a plat book that shows ownership data, and begin calling those owners to buy land.

How do you know whom to call, though? You need to identify landowners who are motivated to sell — ones who are truly bored with their land and don’t know what to do with it. Once you identify them, you can make an offer that’s perhaps 10% of the market value. You’ll still find that your offers are welcomed. Here are five tips that will help you identify such targets.

Find out-of-state owners

Your county plat book should display the address on record for every owner. Owners who tend to live far away, possibly in other states, usually feel disconnected from their property, and want to unload. They tend to worry about squatters, and about the money locked up in the land that they can’t free up. They tend to be motivated to sell.

Find owners who have owned for long

In general, people who have owned parcels of property for 10 years or longer are ready to sell. They have paid off their mortgage or, at the very least, have plenty of equity in their property, and have a reason to sell. Cold-calling owners who have held ownership for a decade or longer is a great way to go.

Find distressed property owners

When an owner hasn’t paid his property taxes in a while, it’s generally an indication of willingness to sell. Such owners are at the end of their financial rope, and hope merely to not lose everything to foreclosure. They happily accept lowball offers, but you will need to pay all back taxes. If it makes financial sense, you should go for it.

Get on a real estate investor group

From LinkedIn to Facebook, there are plenty of real estate investors’ groups around. Getting on these groups, you can usually come by plenty of tips on motivated sellers and pre-foreclosures.

Look for sellers who are actually advertising

From Facebook to Craigslist, some sellers do advertise. When those advertisements show up, you want to be there to take advantage.

Temporary Employee Requires Us to Use an Online Check Stub Maker

My wife and I have our own business and had to hire a temporary employee for a couple of months. He was not a subcontractor, otherwise we could have just gave him a 1099 miscellaneous form at the end of the tax year. We had to deduct state and federal withholding for him for each paycheck based on an hourly wage. It is easy to find the tables to do the deductions, but we did not have fancy payroll checks. We just paid him using our business checks and used a check stub maker we found online to make him pay stubs he could use to keep track of his earnings and withholding.

We do not have payroll software as part of the accounting software we use. Otherwise, we would have just used it to make the pay stubs. It was really cheap to use the check stub maker we found on the Internet to make the stubs we needed for our temporary employee. After the couple of months were done, he got his last paycheck and that was it. Read more →