Feb
5
How To Purchase A Foreclosed Home
If consumers’re looking to purchase a new Home, but lack the finds to purchase a more expensive Home – why not take a look into buying a foreclosed Home? Foreclosures are a great way for new homeowners to get into a house of their own with less out of pocket expenses, and at a lower price than other Townhomes of equal value may be selling for in the same neighbourhood. In addition to being a great way for first-time Home buyers to purchase a Home for less than they would normally have to, foreclosed Townhomes are also a fantastic investment opportunity. consumers can easily purchase a Home in foreclosure, and then turn around and sell it for an easy profit.
buying A Foreclosure
The first thing consumers need to know about how to purchase a foreclosed Home is that they are owned by the banks and lending companies, so consumers will need to work with a real estate agent who specialises in foreclosed Townhomes. Because a foreclosure is a Home which someone else was not able to pay the loan on, and because there are a number of steps the deeds for one of these Townhomes must go through before they can be sold, they are very rarely advertised. So it is important that consumers make sure the broker consumers are dealing with has plenty of experience in negotiating with the banks to find out about the foreclosures that will fit your needs.
Just as with any Home purchase, when consumers are buying a foreclosed Home, consumers will need to have some sort of mortgage pre-approval before consumers talk to your broker. This will help consumers both to comprehend exactly how much consumers can Give, and consumers don’t run the risk of finding the ideal Home and then being incapable to get it due to a mortgage rejection. A quick check of your credit history is a good idea, as well. Since foreclosed Townhomes are those defaulted on by people incapable to pay their mortgage, the savings bank will want to be certain that consumers will be able to handle the monthly payments without any trouble, and that they won’t be putting themselves at risk for needing to foreclose on the same Home twice.
In addition, it is a good idea to have the Home inspected by an appraiser of your choosing, rather than accepting the report of the appraiser the savings bank chooses. many foreclosed Townhomes are in need of much more repair than may be visible to an untraine
1000
d eye; and since the savings bank’s appraiser is being paid to work on behalf of the savings bank, consumers will be doing yourself a favour to have an impartial third party inspect the Home.
Foreclosed Townhomes are a great way for someone like consumers to purchase a new Home at a great price; and as long as consumers do your due diligence, consumers should have no trouble finding a foreclosed Home that will be ideal for consumers and your family.
By: Roberto Bell
Article Directory: http://www.articledashboard.com
Julie is the author of Flat Fee MLS. You can find more information at flat-fee-mls-listing-for-sale-by-owner.com.com.
Finding the right buyer and bringing the sale of an independent and established small business to successful conclusion is always a challenging endeavor. Selling an existing franchise business has many of the same challenges as selling an independent small business as well as a few unique ones. Below you will find a list of some of the major reasons why some franchise businesses have a difficult time attracting a qualified buyer and ultimately sell.
Number Of Years Established:
Just as with small independent businesses the length of time a franchise business has been established is a very important factor that almost all buyers will weigh heavily. In general, any business established less than 2 or 3 years can be challenging to sell because they just don’t have the history and financial track record to prove their viability or make most buyers comfortable enough to move forward.
Priced To High:
This is probably the #1 reason why a lot of existing franchise businesses wont or don’t ultimately sell. Many franchise business owners are just not very realistic about what their business is worth in the market place. Before you list your franchise for sale you might want to consider hiring a professional business broker in your area who can provide you with some realistic pricing guidelines for your business. Or if you intend to pursue a “For Sale By Owner”, visit a few “business for sale” directories online to search for businesses and franchises similar to yours to see how they are priced. You also might want to contact your franchiser to see if they have any “sold” results of other franchise locations they can share with you.
Still Not Profitable:
It is not uncommon at all for many new franchises businesses to take 2 years or more before they can achieve profitability. Unfortunately many small business buyers are seeking immediate income because they need to replace income from a former job to help cover their personal living expenses. It has been my experience as a Business Broker that the majority of these types of buyers are probably not willing to look at businesses that are not profitable yet.
Terms Of The Deal:
With many buyers working with depleted financial resources and a small business lending crunch still in full swing it is never been more important than today to list a franchise business with reasonable terms that will attract a qualified buyer. This includes in most cases offering seller financing with a reasonable down payment and terms that will allow the buyer to make a living after covering his debt service. All cash deals are still possible of course but they will probably be the exception in the near foreseeable future.
Franchise Agreement & Terms:
Although you my have felt the franchise agreement you originally signed was fair and had reasonably royalty terms and restrictions you could live with, many small business buyers today might not share your sentiment. It has been my experience that some buyers will get cold feet after they delve into the franchise agreement, especially if there are onerous restrictions as compared to a similar non-franchised business. Your best bet is to be up front about your franchise agreement’s terms. And depending where you are at in the sales process with the buyer, try to facilitate getting a current Discloser Document from the Franchiser in their hands ASAP so there are no surprises that potentially might derail your deal.
Summary:
Please keep in mind that all prospective business buyers should thoroughly investigate any franchise or business, obtain all appropriate disclosure documents available, and seek expert consultation prior to making any investment decisions.
Ray Haiber has over 10 years experience as a professional Arizona Business Broker You can view and research franchise opportunities for sale here throughout the USA including master and area development opportunities.
High-tech 50-50 draw creates its own buzz at world junior hockey tournament – Yahoo! Canada News
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Mon Jan 4, 4:34 PM
By Michael Macdonald, The Canadian Press
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A tiny company based in Prince Edward Island is creating a big buzz at the world junior hockey championship in Saskatoon.
The two-year-old Summerside-based firm, 50/50 Central, has developed innovative software and wireless technology that has given a modern, high-speed twist to a long-standing rinkside tradition: the 50-50 draw.
The electronic system allows ticket buyers to see how big the pot has grown every time a ticket is purchased, an obvious and immediate incentive that has translated into rapidly growing prize pools and added excitement in the stands.
On New Year’s Eve, when Canada defeated the United States 5-4 in a shootout, the 15,000 fans at Credit Union Centre in Saskatoon purchased $187,050 worth of 50-50 tickets, creating a cash prize of more than $93,000.
That’s almost $12.50 per person in ticket sales.
Blair Smith, the company’s co-owner, says it was the largest pot at the 31-game tournament and by far the biggest prize delivered by 50/50 Central’s technology.
Smith says ticket sales on Tuesday night, when Canada takes on the United States for the gold medal, are expected to top $200,000.
“When you jump over $10 a head … those are huge numbers,” Smith said in an interview from Saskatoon.
The tournament’s host committee had a licence to sell $1.5 million worth of 50-50 tickets, but it recently applied for a $2 million threshold.
Craig Sled, assistant vice-president of marketing for the host committee, said the group had expected about $600,000 in ticket sales, based on the two previous world junior hockey championships in Ottawa and Vancouver.
“We’re overwhelmed,” he said. “There’s just no other word for it. … We’re totally blown away.”
At each game, spectators can purchase tickets from one of 14 roving vendors carrying a handheld, wireless terminal and a tiny, wireless printer. Tickets are also available from vendors seated at eight, wired terminals around the arena.
Every time someone buys a ticket – 1 for $5; 3 for $10; and 10 for $20 – the new total for the draw is immediately beamed to all of the closed-circuit televisions in the stadium.
“We’re on there all the time, whether it’s a little bug in the corner or it’s full-screen,” Smith says.
The total is also shown on the electronic score clock at centre ice during announcements and each intermission.
During games, as the jackpot displayed on the Jumbotron rises rapidly, the lineups grow longer for tickets and the banter in the stands often turns to the interactive lottery.
“As they watch it grow and grow, what we’re seeing is a lot of people coming back … and buying more,” Sled says. “We’re seeing a lot of people spending $100, $200 … and they’re buying for family and friends. … A couple of our winners haven’t even been to a game yet.”
The host committee will use its share of the proceeds to pay for the tournament. The net profit will be funnelled into minor hockey programs.
Smith says his company charges for support and maintenance, and it also gets a percentage of the total revenue, but he won’t say how much.
The company has only five employees, including Smith and co-owner George Roberts of Kensington, P.E.I.
The 50/50 Central system is already being used by non-profit organizations affiliated with the Boston Red Sox, the Boston Bruins, the Portland Pirates of the American Hockey League and three teams in the Quebec Major Junior Hockey league.
Several other organizations with hockey and baseball teams in Ontario and Quebec have also signed up, but they have yet to be listed on 50/50 Central’s website.
Smith said his partner came up with the concept while sitting in a shopping mall in Montreal in 2006.
“He was trying to figure out a better way to skin the cat,” said Smith, who lives in Summerside.
“We soon came to realize that is was all about the accountability. When you make a sale … the individual buying sees the pot increase right away. They know it’s in the pot. … In any cash business, accountability is important.”
So far, the electronic system can only handle cash transactions. But it will soon take credit cards.
There are no plans to add an online component because that would be illegal, Smith adds.
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