1.1 Introduction
A property auction is the process of buying and selling property by offer it to bidders wherein the highest bidder can be a buyer of the property at the end of auction. The purchasing of the properties especially for residential property it was increasing which the numbers of properties also increasing go on auction in the market. This situation occur due the borrowers takes a bank loans by mortgaging their property as a guarantee or collateral on his loan which he has made.
Thus, if the borrowers failed to pay their loan the property can be auction by advertised the property to sell in public, it is the bank want to recovers the loans that given to the borrowers. The bank would be determined the offer price of the property based on the amount of loan should to recover. Hence, the offer prices of properties in auctions are lower compared to the market price. Which, the buyers will get to see the property value when an auction event held namely when many bid for the property.
Besides, sales transactions for property able auction are completed in brief periods
In addition, auction properties are also suitable for investment. This is because due to rising prices among property, auction properties are more viable as investment choices. For those who would like to buy a second home, auction houses are most suitable because they are being sold at a very moderate price.
Most people do not know that there are many advantages if they buy properties from public auctions compared to other means. Completed property under auction can save buyers the problem of abandoned housing project. Prospective buyer can do a survey first on the property auctioned to see if there is any damage and get related legal advice about the p...
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...red will be analyzed used the Microsoft Excel and the findings will be considered as the basis for the formulation of recommendations at the end of this study.
Chapter 6: Recommendation and Conclusion
To complement this study, result proposal and conclusion of entire research will be elaborated. The conclusion which meets the objectives stated earlier and recommendation for future study.
1.8 Conclusion
In conclusion, the introduction part is one of the essential elements in this research study. All the information in this part including issues and problems, objectives, limitations, scope, its area and flow chart of the study are the main and essential elements before the researcher go on to the next step of the research study. Besides, this information would rather help the researcher to know the step in the research study that needs to be followed orderly.
Compensation must be provided to the person whose property is being bought. Each country should work to set a standard for what is a fair market price, to prevent any people from inadequate compensation. The value of the property must be taken into account, and the effect this will have on their way of life. If a person is, for example, losing their home, the government must provide enough money to ensure that individual is able to relocate comfortably.
Collateral for the defaulted loan. Distressed real estate involves making a distressed purchase. According to Financial Crisis (2011), “[A] distressed purchase is whereby the property owners are usually in a foreclosure/short sale situation.” Foreclosure applies to a residential real estate loan in which a bank or creditor repossesses a home because of nonpayment. The institution will legally possess the right to resell the property as collateral for the defaulted loan. The selling price can be sold at a price equal to or greater than the original loan. The reason distressed properties can be bought at a lower price is the institution has already received a series of payments toward the original home loan. In many situations the lender can sell the house for a lower cost than the normal market value, leaving the buyer the opportunity to make a purchase at a lower selling price than market value and reselling the property at a profit (Demand Media, 2011).
For the decades before the current housing crisis, buying homes and loaning money was a simple, but strict, affair and had had two outcomes. Either the borrower could pay back the money owed or they could not pay the money back. If the borrower could pay the money back, they could keep their house or whatever they took out the loan for. If they could not pay the money back, the lenders repossess the things that were not paid for. When this happens with a house, it is called foreclosure.
The aim of this paper is to explore and critically analysing two research articles. The critical analysis will explain the importance of the study, evaluate design and research method used in those articles. To identify any gaps it will provide the literature review in those researches and possibility for the new study. The project plan, for the possible research will be developed on a potential gaps and the essay will finish with the conclusion.
Through statistics, the price of all property is set from a fair market value in which auctions control sixty five percent of today's prices on all property. So why not get the most out of personal property by selling it at the auction? An individual has to read the contract that the auction house writes because it could read that they might not get paid until the last item of their personal property gets sold. Some auctioneers are known for keeping back one of two items from an individuals personal property back until they have their next sale.
The law of eminent domain has been discussed over many years. The law of eminent domain is allowing the government to seize private property for public use. Many feel as if it should not be allowed. Some reasons, the property belongs to the people they have rights, many people abuse the system, and also many states use it in different ways. All these reasons give us, we the people more reasons why it should not be allowed.
value of that property to be much lower. Since the property was a dilapidated building in a bad
A house is not only an expense that is financed by long term debt, it is also an asset that stores value. Purchasing a house can be a daunting experience as it will be the biggest expenditure of one’s life and one needs to ensure nothing goes wrong during such a process. This paper covers two questions in relation to purchasing a house: pros and cons of renting versus buying a house and the role of title search while making a house purchase.
The authors of this article have outlined the purpose, aims, and objectives of the study. It also provides the methods used which is quantitative approach to collect the data, the results, conclusion of the study. It is important that the author should present the essential components of the study in the abstract because the abstract may be the only section that is read by readers to decide if the study is useful or not or to continue reading (Coughlan, Cronin, and Ryan, 2007; Ingham-Broomfield, 2008 p.104; Stockhausen and Conrick, 2002; Nieswiadomy, 2008 p.380).
Why? Here are four reasons: 1. A house is not a good investment when compared to other assets. While it is true that home values appreciate over time, you also have to consider the actual costs of owning and maintaining a house. These costs include property taxes, mortgage interest, and maintenance costs such as repairs and regular maintenance.
As a requirement in MMP111 Introduction to Property, this assignment will examine and value a residential home located in Altona North. The physical condition of the house will be evaluated, and after looking at the various factors likely to influence on the va...
In conclusion, while selecting articles to use for this research, these particular articles proved to be very useful. They both met the criterion for the purpose of research information, as well as having current information on the topics.
Build or renovate houses would require considerable expense in accordance with the context of the ability of their respective owners. That is to say, housing is a basic necessity as well as luxury goods. Everyone will be very careful in buying luxury goods for risking substantial value for money. Not to mention a residential property that will be enjoyed alone or used in a long time. Comfort and beauty of our home conditions, as well as our bodies will be felt both physically and psychologically.
A mortgage is a form of debt, secured by the warranty of a specific real estate property. The borrower is required to pay back the debt in predetermined payments. The most common reason for acquiring a mortgage is to purchase real estate when it cannot be paid for up front. The homebuyer, in a residential mortgage, pledges their home to the bank. Over a period of years, the borrower pays back the loan with interest. Once the mortgage is paid in entirety, the owner retains the property free of any charges. However, in case of foreclosure, the bank has an entitlement on the house, as a form of insurance should the buyer default on repaying the mortgage. The bank can then sell the house, and use the capital to pay back the remaining mortgage.
Striating from the research idea to the culmination of the findings, the research process entails many segments, all of which are imperative. By choosing the research methodology, the researchers can formulate the path to be used in conducting the study and reporting the findings. The methodology helps in the search of literature, development of research questions and the creation of the most suitable study design. It also assists in the interpretation of the results and the publication of the findings in journals.