While it does feel cozy to stay inside your house against the cold night here, some people can be very sensitive to foreign particles that could be trapped indoors. These allergens can cause various respiratory problems exacerbated by the cold weather. Continue reading Tips for Keeping the Air In Your Home Healthy
How to Clean a Bedroom?
Cleaning a bedroom isn’t all that difficult if you approach it in an organized way. While you may have your own method, here are some suggestions to make it a bit more fun. Continue reading Best tips on how to clean your Bedroom and Kitchen efficiently
The storage unit is important for us when we need to shift our home or travel somewhere or store our excess households. These are not the only reasons for using a storage unit. You can go for renting a storage unit for various reasons. However, our main concern here is to provide a clear guideline about how to choose a storage unit. Continue reading How to choose a storage unit
Having your condo seems like a good idea until you know how much work there is to do to keep in clean. But don’t you worry, we come with essential tips on how to seriously clean your condo. If you need one, we can help you with this one, too: check out these condos for sale Chandler AZ.
Open the windows
This way, you’ll clear the air. The fresh air will help in eradicating the musty odors that got into your room from different places – the one that you don’t smell because you’re the owner, but that your guests will every single time they get into your house. It’s advisable to leave the windows open while you scrub with your cleaners and solutions. Also, don’t forget that you should set a cleaning routine and respect it once every 1 or 2 weeks.
Cleaning your condo is serious
Sometimes it can affect your health. If you don’t want or can’t do it, hire someone to do it for you.There are some companies that will ask you to meet in person to give in an interview in order for them to match you with an appropriate cleaner. The lists are long,and the demand for cleaners is very serious. They choose cleaners based on their cleaning abilities and personalities, and that’s how they get to you, too. Don’t forget to call as soon as possible and make an appointment. Otherwise, you’ll have to wait a lot.
Your closet, foyer, living room and dining room
As said earlier, every house has a smell. Make sure it’s the smell you want it to have. So first of all, you have to clean the foyer carefully. This is perhaps where you store the boots for winter and your running shoes. Don’t forget to air it out and clean it from time to time. Just make sure you’re not masking the smell temporarily with different – it won’t go away and you need it to go away. Don’t be afraid to address the real issue.
Your entry coat closed and your foyer should be cleaned for a fresh smell. You’ve seen how it is now, there are tiles and hardwood floors that are used most, and people don’t really like carpeted areas anymore. Make sure you clean the entry areas and the closets – interiors and exteriors. Even if they’re small, these areas can get an ugly smell.
When it comes to cleaning the living room and dining room, you usually do it straightforwardly, because there are the largest spaces from your condo. The floors and the corners should get cleaned easily. Also, the baseboards should be taken into account, as the dust gets there much easier.
Determining the value of a mortgage note
In this article, we are going to talk about the ways to define the value of a certain mortgage note. If you are buy and sell notes, you’d want to learn how an investor would decide the price of the asset.
Before reading on, it’s definitely worth having a good understanding of what is a mortgage note, so you know what it entails.
When doing so, there are many factors that must be considered when putting a price on a mortgage note. First of all, we must check whether it can be sold at all.
How to determine whether a mortgage note can be sold or not?
- Down Payment
First, the down payment determines whether the loan can be transferred. The more money a note seller can collect as a down payment, the more he will sell it for when it comes to the liquidation of the property.
If the borrower has only 5% down payment or lower, this won’t be a high offer for the property seller. To see any higher bids, one must consider at least 10% down to receive a full offer. However, really big offers happen with a down payment between 20 & 30% of the property buyer.
- A credit of Borrower or Property Buyer
The main idea is that the higher the credit of the property’s buyer is, the larger amount of money you’ll take from the mortgage note once you sell it.
Moreover, the greater the credit score is, the offer is higher and it’s easier to sell. Of course, having a stellar credit can be a daunting task in recent days. For greater chances of selling the property, you’d need a credit score of at least 580.
III. Recourse vs Non-recourse
When selling a property to a corporate entity or non-profit organization, you must get an officially written personal guarantee by the individual who heads the entity.
Having no recourse (personal guarantee) can lead to a loss of thousands of dollars. Most investors pay much less for non-recourse properties due to the larger risk involved in such bargains.
Furthermore, you must ensure that the guarantor has an appropriate credit score, or else the personal guarantee won’t serve its purposes.
Determining the value of a mortgage note
There’s a variety of factors involved in the price calculation of a mortgage note. It is important to note that these factors can’t be referred to each note. Calculating the price of a property isn’t a one-size-fits-all approach as there are numerous variables involved.
- Investor Yield
A factor that varies greatly between the different investors. The investor’s yield determines the cost of capital and risk.
In most cases, the cost of capital for most private investors ranges between six and eight per cent. This cost will be significantly lower if you sell the property to a bank. Of course, some investors might be a bit greedier and ask for up to 15%.
So, it is recommended to receive multiple offers from different investors to find the most affordable one.
- Interest Rate
It is important to note that private note sellers are not financial institutions and they need to make up for the cost of capital, which means that the yield might be slightly higher.
They do not have the risk-tolerance such as major banking entities and they can’t make the same offer. If the interest rate exceeds the average for your country, then the investors will have no interest in buying the mortgage note.
- Amortization & Paying back
The last factors that determine the value are the amortization and the payback period. The longer it takes to pay back, the less your property will sell for.
In most cases, individuals who invest their time and money tend to monetize their investment in the first five to fifteen years. So, if you are looking to sell, then you wouldn’t want a thirty years payback period.