Wednesday, July 31, 2013

Real Estate Terms And It's Meaning. (E)

Neeta Shah
Neeta Shah

Easement

A right that someone has to use the land
 belonging to another, eg: a water authority may
 have a sewerage easement across part of your
 property.

Encroachment

Part of a house or establishment illegally 

overhanging the street or a neighbour’s property
.
Encumbrance

An impediment to the use or transfer of the
 property in the form of an interest or right in the
 property.
Equity

The amount of an asset actually owned, Equity is

the difference between the market value of the 
property and the amount still owed on its 
mortgage.

Establishment Fee

See Loan Application Fee

Estate

The total of all the real estate and personal
property owned by an individual at the time of
death.

Eviction

The lawful expulsion of an occupant or tenant 

from real property.

Exclusive Listing/Sole Listing

A written contract that gives a licensed real

estate agent the exclusive right to sell a property
for a specified time.

Executor

A person named in a will to administer an. 

‘Executrix’ is the feminine form.

For More Details Please Contact
Office :- 2895 32 32 / 2894 87 47 Fax :- 2890 63 63 Mobile :- 9821411063
Skype Id:- neeta.shah30 
Email: neeta@aasharealtors.co.in 
Blog: aasharealtor.blogspot.in Web: www.aasharealtors.co.in 
Shop No. 2 & 11 , Shailesh Apartments, Borivali West, Mumbai - 400103.

Tuesday, July 30, 2013

Real Estate Terms And It's Meaning (D)

Neeta Shah
Neeta Shah
Deed

A legal document conveying title to a property.

Default

Failure to make mortgage payments regularly or to comply with other 

requirements of the mortgage.

Deposit

A percentage of the purchase price given to bind the sale of real 

estate.

Depreciation

A decline in the value of property due to changes in market conditions 

or other clauses.

Disbursement
A cash expenditure for the purpose of settling a debt.

Disposable Income

Money left over after all expenses have been met.

Door Jambs

The vertical sides of a door frame.

Drawdown

The disbursement of mortgage funds provided by the Bank.

Dual Occupancy

A block of land which is zoned so that there two distinct dwellings are 

permitted by the Local Territorial Authority, to be constructed.


Duplex

 semi-detached flat





For More Details Please Contact Office :- 2895 32 32 / 2894 87 47 Fax :- 2890 63 63 Mobile :- 9821411063 Skype Id:- neeta.shah30 Email: neeta@aasharealtors.co.in Blog: aasharealtor.blogspot.in Web: www.aasharealtors.co.in Shop No. 2 & 11 , Shailesh Apartments, Borivali West, Mumbai - 400103.

Monday, July 29, 2013

Real Estate Terms And It's Meaning (C)

Neeta Shah
Neeta Shah

Capital


Money used to create income, either as an investment in a business or

 an income property 

The money or property comprising the wealth owned or used by a

 person or business. 

The accumulated wealth of a person or business. 

The net worth of a business represented by the amount its assets

 exceed its.


Capital Expenditure



The cost of an improvement made to extend the useful life of a 

property or added to its value.

Capital Gain


The gain on the sale of a capital asset.

Capital Improvement


Any structure or addition to a property erected as a permanent 

improvement that adds to its value and useful life.



Cash Flow



A measure of cash inflow and outflow from the business. Positive cash 

flow means more money is coming into the business than is leaving it.

 Negative cash flow is the converse.


Cash-out refinance



A refinance transaction in which the amount of money received from

 the new loan exceeds the total of the money needed to repay the 

existing first mortgage, closing costs, points and the amount required

 to satisfy any outstanding subordinate mortgage liens,. In other

 words a refinance transaction in which the borrower receives 

additional cash that can be used for any purpose.


Caveat


A warning on a title to a purchaser that a third party might have some 

interest or right in the property.


Caveat Emptor



A Latin phrase for “Let the buyer beware”, i.e.: the onus is on the 

buyer to be satisfied with any item before purchasing.



Certificated Salesperson



All Salespeople in real estate who have not qualified by exam to be an 

Associate (AREINZ), who are employed by a licensed Real Estate 

Agent.

Certificate of Occupancy


A document issued by a local government to a developer permitting 

the structure to be occupied. This generally indicates that the 

building is in compliance with public health and building codes.


Certificate of Title


A description of a property with the name of the registered owner

,encumbrances, i.e.: mortgages or easements on the property. It must 

be produced by the vendor before the sale of the property.


Chattels


Moveable and removable items of personal property. In real estate 

transactions, chattels included in the sale usually include the stove, 

television aerial, carpets, blinds, curtains, drapes and light fittings.

 However, unless chattels are specified in the agreement, they are not 

sold as part of the property.


Clear Title


A title that is free of or legal questions as to ownership of the 

property.


Collateral


An asset (such as a car or a home) that guarantees the repayment of a 

loan. The borrower risks losing the asset if the loan is not repaid 

according to the terms of the loan contract.


Commission


A proportion (usually a percentage) of the sale price of a property 

paid to a real estate agent for negotiating a real estate transaction.


Common Law


An unwritten body of law based on general custom in England and used

 to an extent in Australia.


Common Property


Area of building, land or amenities within a strata title property that

 are shared by all owners, eg: a driveway.


Company Title


A company owner has a certificate of title and the owner automatically 

becomes a member of a company that administers, manages and 

maintains the property in which the owner’s flat is registered. The

 Directors of that company are elected each year at the Annual 

General Meeting from owners involved only with that company, i.e. 

owners in that block.


Conditional Agreement


This is a legally binding contract, but it is subject to conditions being 

satisfied, usually by the purchaser. The conditions will be detailed in 

the agreement and may, for example, require that you are able to sell 

your existing home by a set date or to arrange finance by a certain
date. Conditions can also be included by the purchaser that requ

ire the seller to do something by a specified date - for example, that

 settlement will take place only on the conditions that the house is

 painted, the windows repaired or that rubbish around the section is

 removed. Note: Purchasers' conditions usually do not prevent the

 sale-taking place, but may allow the purchaser to delay settlement

 without penalty or claim damages if the conditions are not met in time.


Construction Loan


Also called Building Loan. A short-term, interim loan (only paid to 

registered builders) for financing the cost of construction. The

 lender makes payments to the builder at periodic intervals as work 

progresses.


Contingency


Contingency. See Special Condition.

Contract Note


An agreement in writing setting out the terms and conditions relating 

to the sale or purchase of a property.


Contract of Sale


An agreement in wiring setting out the terms and conditions relating 

to the sale or purchase of a property. It is the purchase document 

signed at auction.


Covenant


Terms, conditions and restrictions noted on the title. A covenant may

 affect future plans or resale of the property.


Cover Note


A document issued by an insurance company giving temporary

 insurance until a formal policy is issued.


Credit History


A record of an individual’s current and repaid debts which is usually 

used by a lender to assess the risk of a potential borrower.


Credit Report


A report of an individual’s credit history prepared by a credit bureau 

and used by a lender in determining a loan applicant’s 

creditworthiness.


Cross Lease


This type of ownership is common where there is more than one home 

on a block of land. You are all owners of the land and you each lease

 your home. The lease will usually provide for an exclusive use area 

for each cross-lessee. It's like owning a freehold property but there

 are some restrictions. Another form of ownership for more than one 

home on a block of land is a unit title.


Cul-de-Sac


Also called a ‘Court’ or ‘Dead End Street’. A street with only one 

entrance, the other end being closed. Often valued for the privacy

 provide to homes in the street.




For More Details Please Contact Office :- 2895 32 32 / 2894 87 47 Fax :- 2890 63 63 Mobile :- 9821411063 Skype Id:- neeta.shah30 Email: neeta@aasharealtors.co.in Blog: aasharealtor.blogspot.in Web: www.aasharealtors.co.in Shop No. 2 & 11 , Shailesh Apartments, Borivali West, Mumbai - 400103.

Ready Reckoner For Home Loan EMI Calculation

Neeta Shah, Kalpesh Shah
Neeta Shah   Kalpesh Shah

Home Loan EMI Calculation


 For More Details Please Contact Office :- 2895 32 32 / 2894 87 47 Fax :- 2890 63 63 Mobile :- 9821411063 Skype Id:- neeta.shah30 Email: neeta@aasharealtors.co.in Blog: aasharealtor.blogspot.in Web: www.aasharealtors.co.in Shop No. 2 & 11 , Shailesh Apartments, Borivali West, Mumbai - 400103.

Saturday, July 27, 2013

7 Money Habits Of The Rich That The Rest Of Us Can Copy


Neeta Shah
Neeta Shah







7 Money Habits Of The Rich That The Rest
 

Of Us Can Copy

When you hear the word “rich,” what do you think of?
Yachts? Evening gowns? Travel?
That’s true to an extent, but not all rich people live that way. For this argument, we’ll define “rich” as having an excess of money, and “lavish” as obscenely using moolah like those in Hollywood.
Those who are rich, especially the self-made rich, are a different breed than most people. They do things differently. They live differently. They think differently. These differences get them where they are.
Without these actions (or an inheritance from your great uncle Earl), you’ll simply stay a reader, passive without action.
Let’s read and incorporate:

Financial Habits of the Rich (And How to Develop Them)

1. Build up cash by saving it. 
Yes, the rich save their cash. Rather than eating out all the time, they tuck those dollars into stock mutual funds that pay out. According to Jean Chatzky in The Difference, 55% of the self-made rich got there by saving.
Take action: Where are you spending that you don’t NEED to? Be honest. Write it down. Get serious about finding cheaper alternatives. If you shop at Starbucks every morning, stop. Invest in a Keurig and drop the money you would have spent into a savings account. When you’ve built it up a bit, invest it in a stock mutual fund and watch it grow.
2. Don’t pay for what you don’t need.
In other words, stop trying to outdo the Jones’ and stay within your budget for things like your house and car. If you pay $400 a month for an SUV that’s drinking dollars each week, pare down. Do you really need an SUV? Would a minivan be a more cost-effective alternative?
Take action: Take a look at the places you pay for lavish upgrades, and scale them back. Could you do with a smaller home? Could you do with less expensive clothes? Be honest in your assessment, or you’re wasting your time.
3. Haggle.
Never ever pay full price for something. Always look for ways to get a cheaper price. Talk to the store manager. Wait and shop on days when clearance sales are running. If you’re an avid Target shopper, you probably already know their clearance schedule.
Take action: The next time you want something, try to find it on sale, use coupons, or negotiate for a better price. Take the money you saved and add it to your savings pile to forward on to the stock mutual fund option.
4. Just do it.
This is true on so many levels. The self-made rich are people with the mindset that they can (and will) change their situations. Instead of waiting for good things to happen (or wondering why they don’t), they get out there and make them happen. They invest in businesses. They start businesses. Or they invest in things that will have high returns.
Take action: Whether you’re at work, the mall, or the grocery store, look for ways to earn more money. Don’t sit idle wishing you could do something. If you want this, you must make it happen.
5. Set goals – and achieve them.
Doing is a lot more productive if you know what your goals are. The rich know what they want to earn, and they set a plan before they go out to do it. They research what will earn them the money they want, then they set and accomplish goals around it.
Take action: Set small financial goals you can easily achieve to help you build your confidence. As you reach your goals, set new ones — so that you always have your sights on a new horizon.
6. Live simply.
The self-made rich live lives that are simpler than most, because the more you have, the more you pay. Do you need 100 pairs of shoes? My wife does, but she’s the exception, or so she says. Do you need three laptops in the house? Can you survive with one? You see where this is going. We’re a consumer society, and it’s reflected in all the “stuff” we buy. And most of it we don’t truly need.
Take action: Go through your house, declutter, and get rid of the things you don’t need. Then vow not to replace it with more. Think three times before buying, and always go for simple.
7. Get fit.
Yep. The self-made rich take care of themselves, too. Who wants to pay hospitals thousands and thousands of dollars to fix what they broke? Not the men and women who’ve worked so hard to earn and save. They maintain their health by taking active roles in exercising and eating right.
Take action: If you already exercise, great! If you don’t, start. Increase your level of fitness and see how you feel (mentally and physically) after a few weeks. Your mind and body will love you.
Remember: You don’t get to pick and choose. If you want to become self-made rich, you have to incorporate these seven habits into your own life today



For More Details Please Contact Office :- 2895 32 32 / 2894 87 47 Fax :- 2890 63 63 Mobile :- 9821411063 Skype Id:- neeta.shah30 Email: neeta@aasharealtors.co.in Blog: aasharealtor.blogspot.in Web: www.aasharealtors.co.in Shop No. 2 & 11 , Shailesh Apartments, Borivali West, Mumbai - 400103.

Real Estate Term And It's Meaning. (B)

Neeta Shah
Neeta Shah




Below is a list of some of the most commonly used terms relating to


 Real Estate and the property market.Browsing from A to Z will help 

you become more familiar with the meaning of these terms and give 


you a better knowledge of the Real Estate industry.




Today We shall see Terms on 

Alphabate 'B'


 Balloon Payment


A large loan payment to clear a debt.

Beneficiary



The person designated to receive the income from a trust, estate, or 


a deed of trust.


Bi-weekly payment mortgage



A mortgage that requires payments to reduce the debt every two 


weeks, (instead of the standard monthly payment schedule). The 26 

(or possibly 27) bi-weekly payments are each equal to one-half of the 

monthly payment that would be required if the loan were a standard 

30 year fixed-rate mortgage and they are usually drafted from the 

borrower’s bank account. The result for the borrower is a substantial 

savings in interest.


Body Corporate


An administrative body made up of all the owners within a group of 


units or apartments of a strata building. The owners elect a 

committee, which handles administration and upkeep of the site.


Bond

A sum of money paid by a tenant and held by the Tenancy Services to 


ensure against defaulting on payment and damage to the property.


Boundary


The lines that define the perimeter of a property.


Brick Veneer


A type of construction in which a structural timber frame is tied to a 


non-load bearing, single-brick external wall.

Bridging Loan


A short term loan (usually at a higher rate) taken out to cover the 


financial gap between buying a new property and selling an existing 
property.


Building Code

Local Council regulations that control design, construction and 
materials used in construction.

Business Day

A standard day for conducting business. 9.00am - 5.00pm. Excludes 
weekends and public holidays.

Buyers Market

When the demand for property is less than supply so the advantages
 shift to the buyer.

For More Details Please Contact Office :- 2895 32 32 / 2894 87 47 Fax :- 2890 63 63 Mobile :- 9821411063 Skype Id:- neeta.shah30 Email: neeta@aasharealtors.co.in Blog: aasharealtor.blogspot.in Web: www.aasharealtors.co.in Shop No. 2 & 11 , Shailesh Apartments, Borivali West, Mumbai - 400103.

Friday, July 26, 2013

Real Estate Terms (A)

Neeta Shah
Neeta Shah


Below is a list of some of the most commonly used terms relating to


Real Estate and the property market.Browsing from A to Z will help 

you become more familiar with the meaning of these terms and give


you a better knowledge of the Real Estate industry.


Today We shall start with Alphabate 'A'


Acceptance


Consent by the person receiving the offer to be bound by the terms 


and conditions of the person making the offer. Acceptance of an 
offer constitutes an agreement.
Act of God


Any act of nature such as rain, lightning, floods or earthquakes. Many 


insurance policies do not cover losses resulting from an ‘Act of God’.
Additional principal payment


A payment by a borrower of more than the scheduled principal amount


 due in order to reduce the remaining balance on the loan.
Administrator


A person appointed by a probate court to administer the estate of a 

person who died intestate (without a will).
Agreement


The written contract for the sale and purchase of property between 


the seller (vendor) and the buyer (purchaser).

Amenity


A feature of real property that enhances its attractiveness and 


increases the occupant’s or user’s satisfaction although the feat

ure is not essential to the property’s use, eg: scenic views, proximity 

to public transport or recreational facilities.
Amortise


To repay a mortgage with regular payments that cover both Principal 


and Interest.
Annuity


An amount paid yearly or at regular intervals, often on a guaranteed 

dollar basis.
Appraisal


A written analysis of the estimated value of a property prepared by a 


qualified appraiser.

Appraiser/Valuer


A person qualified by education, training, and experience to estimate


 the value of real property and personal property. You can tell 
someone is accredited in NZ with the “B Prop” or “Dip Valuation” 
after their name
Appreciation


An increase in the value of a property due to changes in market 

conditions or supply and demand, etc.
Architrave


A decorative moulding around doors or windows.

Asking Price


The listed price of the property buy may not always be the selling 


price. The owner may be willing to negotiate.
Assessed Value


The valuation placed on a property for the purposes of taxation by an

 authority.
Asset


Anything of monetary value that is owned by a person, eg: personal 


property, bank accounts.
Assignment


The transfer of a mortgage or lease from one person to another.

Auction


A public sale of a property or real estate that is sold to the highest 


bidder when the owner’s reserve is reached

For More Details Please Contact Office :- 2895 32 32 / 2894 87 47 Fax :- 2890 63 63 Mobile :- 9821411063 Skype Id:- neeta.shah30 Email: neeta@aasharealtors.co.in Blog: aasharealtor.blogspot.in Web: www.aasharealtors.co.in Shop No. 2 & 11 , Shailesh Apartments, Borivali West, Mumbai - 400103.