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INVESTING IN THE MIAMI CONDO PROPERTY MARKET



There are a lot of types of Miami real estate property that people can invest
in,Investing In The Miami Condo Property Market Articles each one requiring a
different level of knowledge about the real estate market, as well as different
level of understanding and strategy in order to give you the best possible means
of making the most of your investment. One particular property type that you can
invest in is the Miami condo properties.

One good thing about investing in Miami condo-type real estate properties is
that you can raise its equity by renting it out once you have purchased it. One
way of being able to purchase a Miami condo property is by assuming the seller’s
home loan, aside from securing the loan yourself. Assuming another person’s home
loan is actually a good option to take if you are a home buyer since this could
lead to your putting of less cash into the transaction than you normally would
if you were to secure the loan yourself. You will be paying less since you are
paying less interest to the bank since you are not starting your loan from
scratch.

Once you have secured your own condo, either through rehabilitating an old
condo, or by making a great deal on a pre-constructed unit, then you can start
to help your investment make more money in the area where you can opt to
eventually settle or sell. One thing that you can do to help make money off of
your Miami condo property is to rent it to people, either seasonally or for a
fixed period of time. However, making the most of your investment requires a
whole lot more than just spending a certain amount of cash on your condo
property.

Before anything else, you need to calculate the cash flow of the property by
assessing the annual rental income and deducting from it the tax benefits,
maintenance and mortgage payments. If you produce a positive cash flow, then
this most probably is a sound investment to make.

Another thing that you need to consider before you can take full advantage of
your Miami condo property is to determine the price of your Miami condo
property. One thing that you gauge your valuation of your property is by looking
at the location of your property. Geographic location can actually have an
influence on how your property is valued, thereby determining the cost of the
rent. The closer your property is to great views and sunny areas can help yield
high rents.

The size of the condo property also has an influence on how your property is
valued wherein the bigger the size of the property and condo-unit is, then the
higher the rent is. The same principle can also be applied to your Miami condo
property’s amenities. These amenities will help attract potential renters to
your Miami condo property, and can also help raise the rent by a fraction.






WHAT DOES A HOME APPRAISER LOOK FOR, COMMERCIAL REAL ESTATE APPRAISERS



A property with a double car garage and a well-maintained neighborhood should
not get the same sold price as compared to the one with one car garage. In those
cases,What does a home appraiser look for, Commercial Real Estate Appraisers
Articles contacting Commercial Real Estate Appraisal Toronto is a good way. They
consider all the factors and come with the best price for buyers, sellers,
lenders, or any other stakeholders.

If you are planning to sell, purchase or rent properties, some in-hand
information about points taken into consideration by Commercial Real Estate
Appraisers is important. Keep reading this blog.

General Property Features
Residential or commercial property is made with so many parts such as bedrooms,
kitchen, garage, driveway, washrooms, storerooms, and more. Real estate
appraiser Montreal looks for size details such as square feet measurement of
rooms, bedrooms, bathrooms, and more.

They take note of car garaging capacity, type of driveways, availability of
storeroom, room for physical security guard, and more.

Interior & exterior properties
Property is not just the construction of four walls, it is multifaceted. Use of
heating/cooling system, floor material, wall material, appliances,
energy-efficient features, and others get the attention of Commercial Real
Estate Appraisal Toronto’s professionals.

Energy efficiency and the presence of refrigerators, ovens, dishwashers, and
other appliances make the valuation high.

Conditions of exterior walls, roof type, windows/doors conditions, and outdoor
amenities are other points also get due consideration. The good exterior gives
the best impression at first glance and creates a solid base for high valuation.

Do appraisers check whether the roof/basement and other not-so-important places
are finished or unfinished? Yes, they check it, and if those are finished,
getting a high valuation becomes easier.

Neighborhoods
Tell us honestly what would you consider first while purchasing a property? Most
of the buyers give importance to location, location, and location. It holds
heavy sway among buyers and so does with Real Estate Valuation Services
professionals.

Appraisers consider location (urban, suburban, rural), proximity (markets,
schools, worship places, pubic transport services), and market conditions.

Properties in the urban area near the market and good access to important parts
of the city get the highest valuation.

The appraisers consider prices trends of nearby properties. They note the street
facilities, crime rate, special hazards, zoning, flood zone, adverse site
conditions, and more.

The presence of rampant encroachments in the neighborhood persuades appraisers
to lower the pricing.

Refurbishment
Properties get bad shine after some years and constant refurbishing makes it
look young. It is true, appraisers ask for property paper detailing the year of
construction, however, good looks give the best impression at first glance.

Take a broad look at the property before the visit of the Real estate appraiser
Montreal. Note down all the important places requiring urgent attention. Get the
work done and it surely helps in better appraisal.

Conclusions
Now, you got the vital points considered by Real Estate Appraisal Ottawa
professionals, work on these to get a high valuation if you are the seller. Be
well prepared and get the best price.

What is tangible personal property – commercial real estate appraisal Toronto?
There are three primary types of tangible non-public property (tp), which might
be actual estate, fixtures and different private consequences and goods. A few
humans call these kinds of possessions “property,” but there may be no such
component as “property.” the word “belongings” become coined through the English
attorney john Locke. Locke claimed that assets is a type of identify of
possession to an object or to a “term” primarily based on a promise, instead of
on the reality that an object or time period is in reality a bodily item or to a
specific use or connection.

And that sounds loads like “intangible personal property” as carried out to
tangible private belongings. What are tangible private assets, then? Basically,
this form of assets is tied to a particular deed of believe. For instance, a
residence, land or house upgrades have an “intangible non-public assets” hobby
in them. The proprietor of the belongings can transfer that interest in
belongings to any other man or woman or party. But if a switch of hobby happens
without an advance transfer of title to the item, its miles a mistake. In this
situation, the belongings aren’t real belongings. And that’s why many people
assume of factors like vehicle loans as “tangible personal belongings.”

no matter what you need to name it, personal assets is surely any “issue”
utilized by humans for his or her personal purposes. It can be something
tangible, which include a automobile or land or residence or land development,
or it may be intangible, such as a carrier or software or patents. A “aspect” is
whatever this is normally used or loved via human beings for leisure, need, or
consumption. It consists of an object to be able to be positioned to a few uses
via the proprietor of that item. So, the distinction among real belongings and
the regular component which might be commonly used by people can easily be
blurred.

What Is Personal Property of a Business?
Private assets are something that is used in the operation of your commercial
real estate appraisal Toronto – commercial enterprise and is not taken into
consideration to be part of your enterprise. The maximum commonplace forms of
personal assets are: gear, vehicles, components, and real property.

Even though it isn’t exactly the same as business inventory, you do need to hold
music of this private property so that you understand exactly what you’ve got,
and wherein it is. When you have an inventory of personal assets which you
cannot discover, this can additionally be a good sign which you aren’t properly
funding your commercial enterprise. Many commercial enterprise owners very own
their own domestic.

This is quality, but it does suggest that they do not need to preserve stock of
those private assets within the house. Whilst you own your private home, which
means that you have got rented the house out for a very long term, so your
private home isn’t always yours any more. You will want to understand who lives
there, how long they have got lived there, and what sort of they have paid for
the assets. This sort of records isn’t always available in all instances, so you
must make sure which you preserve your information easy, and your personal
assets near handy.

In case you do not, this could cause problems down the road when you could
locate that your property is not yours, or that you may have bought the
incorrect property. Many agencies function out of condominium homes. Because of
this the person or business you are renting out has lived inside the property
for many years. You will want to maintain a near eye at the facts of this man or
woman or business, specifically in the event that they have didn’t make bills on
the belongings.

You may also need to look into who has moved into the home, as you can want to
evict someone that isn’t paying hire. You do no longer want to turn out to be
with a large number on your fingers that would occur from negligence on your
element. You will find that many belongings managers are superb at helping their
tenants out, but in case you are renting out belongings, you could need to do
some research for your very own to ensure which you are doing everything you
could to keep your tenants happy. In case you need assist, you will be capable
of find a property manager this is helpful.

What are personal property taxes?
There are many things that go into identifying what are non-public property
taxes. Depending on where you stay, the individual that is paying your taxes can
be one-of-a-kind from the individual that is paying the taxes of your nearby
authorities. Your local authorities may additionally have exceptional
recommendations in relation to belongings taxes for industrial properties. The
tax which you pay can vary based totally on wherein you stay and what your
personal. You have to talk over with your local tax assessor to get all of your
house records. Understanding what personal assets taxes are is one of the
maximum critical activities which will keep away from any surprises when it
comes time to pay your taxes.

While you lease a professional that will help you along with your tax bills, you
will be capable of get a better idea of what property taxes are and how they
paintings. The system may also appear very complex, but its miles very clean to
recognize in case you do it proper the first time. Any other component to
maintain in mind is that you have to never, ever pay any of your own home taxes
in cash. This can lead to an unexpected lien being placed on your private home
through the tax collector.

The most important mistake you can make is assuming that when you buy a bit of
belongings that you robotically get your private home taxes discovered without
consulting with a professional tax consultant. To find out what are non-public
belongings taxes, you ought to constantly visit your local tax assessor’s office
to discuss your home’s particular tax scenario. Doing this could provide you
with a miles better understanding of what are private assets taxes and the way
they paintings to your specific location. Further, if you are curious about how
belongings taxes for business homes paintings, you may go online and find out
for yourself.

Business tangible personal property tax
Business tangible personal property tax (T-PPL) refers to the taxes levied on
business equipment, property and supplies. Tax rates are different for each
category of tangible personal property and this is a reason why the rate
structure for the T-PPL differs from one state to another. In some states, T-PPL
can be avoided by taking advantage of the zero-rate of corporate interest and
the allowance of capital gains on stock options, but there are many exceptions
in the law and these allowances are not available in all states. So before you
invest, read the laws of your state and also the taxes applicable to it.

So, what is the business tangible personal property tax? A business tangible
personal property tax (T-PPL) is a levy on business equipment, real estate,
plant and equipment, software, as well as real estate-related costs. The main
idea behind the tax is to recover the economic losses incurred by businesses due
to tax-increases, and the surpluses created by profitable investments. The main
function of the tax is to increase the company’s bottom line revenue and keep
expenses down. This way, all money that is generated by the company goes into
their pockets and you don’t have to worry about taxes.

Business tangible personal property tax comes in two types – the gross receipts
tax and the net profit tax. Gross receipts tax is imposed on the seller and the
net profit tax is levied on the buyer. The net profit tax is generally levied on
both the buyer and the seller, as the net amount of the sale and purchase
depends on both the sales receipts and the profits from selling and buying the
item. There are also exemptions available to certain sectors such as
transportation, public utilities, and real estate. You should know if you
qualify for any exemptions, and this is why you need to understand the rates of
the T-PPL.

Tangible personal property examples
When you have been attempting to find tangible private belongings examples, then
you have made a good choice. There are several blessings to reading actual
estate properties and by the time you end this text, you’ll be well in your
manner to creating an excellent decision concerning what kind of actual property
homes to purchase. It is critical to word that you should be inquisitive about
actual estate as nicely. A business asset in Toronto, for example, is virtually
now not going to provide you the identical advantages that a residential
property does.

That is why it’s miles important to don’t forget both styles of residences,
which are why this text turned into written. When you pass approximately your
look for tangible private property examples, you’ll locate many corporations
that offer examples. The general public of those corporations have a web
presence and can provide you with everything which you want with a view to
understand how to properly analyze real estate residences.

The exceptional manner in an effort to determine the value of your private home,
even though, is to learn from folks who are well versed inside the subject. This
way, you will be able to get solid recommendation concerning a way to decide the
price of your house and what your subsequent steps should be. Locating examples
of real estate may be quite smooth; however, you want to make sure that you’re
the use of the correct ones.

By discovering these companies, you will find that there are many that offer
tangible non-public assets examples. The usage of actual property as a manual to
how to correctly control real property will help you create first-rate offers,
as well as cash from domestic. Mastering how to analyze properties can help you
gain expertise that is critical in growing remarkable offers and cash from home.

By doing your research and finding examples of actual estate, you may be capable
of gain valuable records that may be used to create remarkable deals. Your
achievement relies upon getting to know from those who’ve had fulfillment inside
the past, and one way to do that is to examine tangible non-public belongings
examples.

What is considered tangible personal property?
There are several factors that a court will consider before deciding on the
value of a particular asset or parcel of land. Some of these factors may include
how long has the asset was used by the owner, the amount of money that the asset
represents and even how much effort the owner has put into maintaining the
asset. Factors such as these will determine the value of a particular asset.

As part of their evaluation of property, real estate agents often ask questions
about what is considered tangible personal property. If the property is rented,
it should be listed in the renter’s contract. Other examples of property that
can be said to be tangible personal property include vehicles, livestock,
household equipment, jewelry, artworks, and other pieces of property of value,
stamps, and other intangible property.

The use of an asset may also affect its value. If it is used to store personal
belongings, for example, the value of the assets will be reduced when storage is
not possible. In addition, a house that is used as collateral for a loan will
reduce the value of the collateral. Finally, a home’s age will affect its worth.

If you want to know what is considered tangible personal property, a real estate
agent should be able to assist you in answering your questions. A good real
estate agent will have a thorough understanding of all aspects of property and
the market. A well-informed real estate agent will also know when to be careful
and when to get in on a bargain. With a little information, a new home buyer

What is tangible personal property tax return?

Many people who have struggled with personal tax returns have asked what
tangible personal property is. In simple terms this is simply anything that you
can see and touch, such as furniture, jeweler, clothes, and cars. You need to be
careful when thinking about what is tangible because it can vary from person to
person and should be considered accordingly. If you think something might be
personal then you need to double check again to make sure.

Let’s take for example a painting that you bought when you were first married
that you now want to sell off for a profit. If you are going to sell it on the
market you need to be sure that it is actually personal property because you
could end up losing out. So how do you know if something is personal? It may be
personal or it may not be personal. It may be financial property or it may be
personal property.

I hope this has given you some different things to think about and also
highlighted to you some of the different ways that personal tax is dealt with in
the UK. Make sure that you understand all of the legal jargon and the rules
before you make any bids. To find out more about what is tangible personal
property tax return and what you need to consider, please visit my blog below.

What is tangible personal property in business law?

In this day and age, what is tangible personal property? This term is used in
business law to describe items that are considered a possession or part of the
business itself. Some examples of these items are insurance policies, lease
agreements, stocks, bonds, patents, designs, songs, and lots more. These items
are regarded as the owner’s “privileges” or his “property.” The answer to this
question depends on the state where a particular item is owned. This is because
each state has its own laws that apply to different items.

The owner’s rights in tangible personal property usually extend only to those
areas of the item that the owner can access. An example of this is an
automobile. Unless it is paid for outright, it is always the owner’s right to
drive it in and out of the dealership.

However, the line between personal property and business property can be blurred
when there is a question of who owns an item. If it is a vehicle owned by an
individual, it is considered part of their personal property. It belongs to the
individual.

What is cost of tangible personal property?

The solution to the query what’s the value of tangible private property (cpp) is
a combination of what you pay now and what you pay later. When to procure cpp,
you’re usually charged interest on it. The hobby fees may additionally vary
depending for your settlement with the creditor. However there are normally 3
not unusual hobby costs that you’ll likely encounter. The primary is the debt
and coins-stability technique, in which the creditor will pay you when you
positioned greater than the minimal amount of money into your account.

The second method is the minimum stability method, where the creditor pays you
whilst you put less than the minimal amount of money into your account. The 0.
33 approach is known as the flat rate method, in which the creditor does now not
charge a earnings margin. You will be charged the actual fee of cpp according to
month and any margin the creditor expenses is similar to what you’ll pay for the
cpp.

The cpp is also called a debt-to-price ratio, which measures how plenty you owe
versus how plenty you can sell a small object for. With the aid of doing this,
you may determine in case you are paying extra on your cpp than the real fee.
It’s far vital to observe that cpp is never a great idea. It only becomes an
awesome idea whilst you discover yourself in a state of affairs in which you’re
a buyer.

In such cases, you have to consider a debt-to-equity approach, which calls for
you so one can pay loads of fairness to acquire a huge quantity of fairness. One
way to understand how cpp works is to calculate the cpp by means of the
debt-to-value ratio. All you have to do is multiply the present day price of cpp
by way of the total amount of debt. Then multiply that figure through the total
amount of equity which you might must pay to get sufficient equity to cowl the
cpp.

The decrease the ratio, the better it’s far for you, because the actual price of
cpp is normally very low, so the month-to-month cost is generally lower than
what you will pay in case you sold a small item at a very high charge. However
you have to observe that the real price of cpp is simplest a part of the tale.

Is a house tangible personal property?

When we talk about tangible personal property or the other name called as real
estate or land, we must not forget the real value of these properties. In this
way, a person must be careful with the price of these properties and ensure that
he pays it at the right amount. One must also be aware that in case of
negotiation, the broker of the real estate agent is in control of all the
information relating to his client.

It is important to know that the real estate agents who work in the financial
markets are well-informed about the price of the property of the buyers and they
can negotiate with the buyer. The fact that the real estate agents work on a
commission basis may cost them a little money in the bargain but it is essential
to consider that there is an extra sum that is due to the broker of the real
estate agents in case of sale of the property.

When you decide to buy a house and you need the real estate agent’s help, then
you should take the help of the broker of the real estate agent. In case of any
problem, you should discuss the issue with him and give him a realistic price
estimate for the property. When you are buying a house, one thing that you must
keep in mind is the fact that it is an investment and you should also put the
efforts in ensuring that you are purchasing the property at the right price. If
you find out that the property is out of your budget, then you should still try
to make a compromise in order to get the property at a price that is within your
budget. This would help you in increasing the value of the property and it is
important to ensure that you are purchasing the property from a reputed real
estate agent.

It is good if you are purchasing the property from a reputed real estate agent
who is located near the place of the purchase. However, this is not always
possible and the best option is to look for the local agent who has been working
in the area for a long time. If you are locating the agent online, then the
quality of the agent will determine the prices for the property.

In case of negotiations, a real estate agent would have more understanding
regarding the terms and conditions of the buyers and in case of a real estate
transaction, he will be able to clarify anything regarding the purchase of the
property. Thus, when you are purchasing a house or a property, it is always
advisable to ask the help of a reputed real estate agent.

What is tangible and intangible personal property?

What is tangible and intangible personal property? I am not sure of the precise
meaning of this term but it sounds something like a partnership. When two people
who are both partners form a partnership, they are allowed to hold, own, dispose
and put the name of their partnership on any business or property that they own
jointly.

But you can’t hold a partnership in the United States if you are not a U.S.
citizen. So if your partnership has a certain amount of tangible and intangible
personal property there are other rules which need to be followed.

What is tangible and intangible personal property? A partnership is a
combination of different types of business. In order to be a part of a
partnership, there are certain rules that have to be followed which will
determine the ownership of a particular type of property. This property is
mostly personal property such as real estate, personal property, stocks, bonds,
investments and shares.

What is tangible and intangible personal property? Being able to answer this
question would really depend on your personal situation. There are different
types of partnerships and some are based on ownership rights of real estate,
properties or shares. But there are some specific partnerships which are
governed by the personal property and how to apply for such partnership.
Examples of these are limited liability companies, limited partnerships,
partnerships for sole proprietorship, and limited liability partnerships for
franchisees. These are all partnerships that are completely owned by the owners
and may not be held or operated by anyone else.

Is stock tangible personal property?

Is stock tangible personal property? It is a very common question and most
people have different answers to this question depending on the jurisdiction
that they live in. The answer to this question is actually quite simple, because
no matter where you live in the world, you are required to keep your stocks and
shares in the country where they are held. If you want to avoid some tax
charges, then you should make sure that you do not keep your stocks or shares
outside of the country where they are kept and be able to keep them all in the
country where they are held as most other countries will tax on stocks and
shares at some point or another.

Does Cleanliness Affect A Home Appraisal?

Cleanness is indeed next to godliness- this line from famous journalist
Christopher Morley is true everywhere.

We all love cleanness, don’t we? We love to spend time at places where there is
no bad smell, or everything is put in an arranged way.

Many property owners ask these questions- does cleanness affect a home appraisal
by real estate valuation services professionals. The final answer is “ Yes”. It
affects the appraisal.

How does Cleanness Affect Home Appraisal?

Residential real estate valuation professionals are human beings, not machines.
Just like us, they too feel bad in unclean spaces.

Commercial real estate appraisers indeed give more importance to the roof, wall,
windows, number of rooms, size, position, etc, but they can’t ignore the dirt on
them.

You may have done a refurbishment on the roof, but due to unclean indoors, the
real estate appraisal Ottawa professionals is out of your property.

Here is another million-dollar question that is related to cleanness.

When the cleanness impacts the home appraisal the most?

Property Rate Is So High

Commercial appraisal Toronto professionals state that they look at the property
in so detailed way when the rate is high. So a house with clean carpet and
filthy carpet should not get an equal valuation.

Indeed, residential real estate valuations services are mainly contacted by the
property owners for valuation, but they tend to work independently. An appraiser
can not put their reputed name at risk by ignoring the cleanness factors.

The first impression is the best impression and the same is true with valuation.
As soon as, an appraiser enters the property, they get a bad feeling that
further leads to a negative impact.

Under high price valuation, the real estate appraisal Ottawa adds the cleanness
costs and reduces the valuation price.

Cleanness Putting A Break On Accurate Appraisal

Cleanness can make or break your dream to get a good valuation. How? It happens
when due to excessive levels of dirt, appraisers find difficulty in reaching a
particular area of the property.

The dirt level makes the visits unlikeable to that side. Getting a good
valuation is not feasible when the appraisers miss visiting some parts of the
property.

Which Types Of Cleanness Creates The Problem?

· Building waste material is kept on the roof or somewhere else on the property.

· Damaged windows frames, floors, and other surfaces

· Food waste lying here and there especially in residential property. Those
leftovers attract rodents and other pests/inspects in the home causing more
damage.

· Many forms of infestations on the property.

· Thick filth over the flooring. This is mostly visible on the hardwood
flooring.

· Unmanaged storehouse with so many obsolete, broken, and completely useless
items. The storehouse is to stores the “sometimes useful “ items. It should be a
place to store the house waste.

Conclusions

Cleanness is multi-faceted so everyone perceives it differently. However, it is
always advisable to take a critical view of the property before the visit of the
UCAS real estate appraiser. We at UCAS real estate appraisers work on the
property valuation process independently.




INSURANCE APPRAISAL CLAUSE… A POLICYHOLDERS BEST CHANCE TO RESOLVE AN INSURANCE
CLAIM DISPUTE!



Many homeowners and business owners find themselves disagreeing with their
insurance company’s analysis of their insurance claim. However,Insurance
Appraisal Clause… A Policyholders Best Chance to Resolve an Insurance Claim
Dispute! Articles most are unaware that they can dispute the insurance company’s
findings via the Insurance Appraisal Clause! Even though the policyholder (you)
submits a contractor’s estimate, receipts for repairs or materials, or even
photos showing damages that the insurance company did not include for repairs…
they still won’t budge.

Most policyholders are unaware of how to dispute and resolve their claim with
the insurance company. Policyholders have a choice and a voice within their
policy for this very purpose. It’s called The Appraisal Clause – also know as
The Appraisal Provision. Now, don’t let this scare you. It may seem like a fancy
clause that would take a law degree to understand. However, a simple way to
understand the clause is that it’s the insurance industry’s version of
arbitration. Although similar, the Appraisal Clause is NOT an arbitration or
mediation and the umpire is not an arbitrator, mediator, or judge. Insurance
Appraisal, Mediation, and Arbitration are separate things.

In short; Arbitration requires attorneys and a legal process, where Insurance
Appraisal does not require attorneys or a legal process. Arbitration is a
dispute between two parties for any reason, where as, the Insurance Appraisal
Clause is a for disputes between the “value,” of property only – bee it an
automobile, plane, train, couch, house, commercial building, etc.

Most Policies Have the Appraisal Clause.

If you feel you’re at a dead end with your insurance company and want to resolve
your claim you’ll need to check your policy for the Appraisal Clause. Most
policies will have the provision listed under the “What to do after a loss,”
section or the “Conditions” section of the policy. Below, you will find a sample
of a typical Insurance Appraisal Clause included in most policies. Keep in mind
that policies can be different in each state. Therefore, you should read your
own policy to see if this clause exists. It will say something similar to the
following ;

“APPRAISAL – If you and we fail to agree on the amount of loss, either one can
demand that the amount of the loss be set by appraisal. If either makes a
written demand for appraisal, each shall select a competent, independent
appraiser. Each shall notify the other of the appraiser’s identity within 20
days of receipt of the written demand. The two appraisers shall then select a
competent, impartial umpire. If the two appraisers are unable to agree upon an
umpire within 15 days, you or we can ask a judge of a court of record in the
state where the residence premises is located to select an umpire. The
appraisers shall then set the amount of the loss. If the appraisers fail to
agree within a reasonable time, they shall submit their differences to the
umpire. Written agreement signed by any two of these three shall set the amount
of the loss.”

OK, But How Does The Insurance Appraisal Clause Work?

The Appraisal Clause allows the policyholder (you) to hire an independent
appraiser to determine the value of their damages. In turn, the insurance
company will also hire their own independent appraiser. The two appraisers will
then get together and select an umpire. The umpire is basically the arbitrator,
or what you might call the judge. If a disagreement between the two appraisers
arises, they can present their differences to the umpire who will make a ruling.

OK; so far so good, the basics of the insurance appraisal process are beginning
to come together. We have an independent appraiser for the policyholder. We have
an independent appraiser for the insurance company. Finally, there is an Umpire.
These three individuals are known as The Appraisal Panel. The object of the
Appraisal Panel is to set or determine The Amount of Loss. The Amount of Loss is
the total dollar amount needed to return the damaged property back to its
original condition, either by repair or replacement.

Once the Appraisal Panel is set, the policyholder’s chosen appraiser and the
insurance company’s chosen appraiser will review the documents, estimates, and
differences between them. The two independent appraisers will try to discuss and
resolve the differences in damage and in cost. For example; the insurance
company may determine that brick on a home does not need to be replaced. Where
as, the contractor or appraiser for the policyholder says that it does have to
be replaced. The two appraisers will discuss their reasons for their position
and try to come to an agreement, first if it should be repaired or replaced, and
secondly the cost to return the brick back to it’s original condition prior to
the loss.

One benefit of this process is that the two independent appraisers have not been
subject to the bickering and anger between the policyholder and the insurance
company. Basically, it’s the hope that cooler heads will prevail. All the
appraisers really have is the amount of the damage and the difference between
the two estimate numbers. They do not have the previous baggage or anger that
led up to the Appraisal. The process was designed so that these two individuals,
who have no interest in the outcome, could discuss a settlement based on the
facts presented to them.

Sometimes issues arrive where the two independent appraisers can’t agree on
certain items. In this event, the two appraisers will submit their differences
to the chosen umpire. The three will discuss the issues and try to reach an
agreed settlement of the differences. As stated above; the settlement or final
number is called The Amount of Loss. The final amount is known as the Appraisal
Award. The Award is signed by the individuals who agree on The Amount of Loss.
However, only TWO of the three individuals need to agree. (An agreement between
the two independent appraisers, or the umpire and either appraiser) Once any TWO
of the three individuals on the Appraisal Panel sign the award… the dispute is
over! The amount on the Award binding and is paid by the insurance company, to
the policyholder.

Can I Use An Insurance Attorney To Dispute My Claim?

The Appraisal Clause was initiated to lower the number of lawsuits filed against
insurance companies. The courts found that many lawsuits were entering the legal
system where the cost to repair or replace damaged property was being disputed.
In many cases the suites were being resolved when professional engineers and
contractors could address the issues. The Appraisal Clause was created to get
such individuals together and keep these disputes out of the courtroom. Assuming
you acquired an estimate of repair to your property for $100,000, from a
contractor or insurance claims expert. Your insurance company has created an
estimate for $30,000. This would be a clear dispute between the amounts of
damage. This type of dispute is exactly what the Appraisal Clause was developed
to resolve.

The clause allows parties on both sides of the insurance policy to dispute their
differences using this less costly provision. Let’s face it; the courts are
filled with lawsuits. The Insurance Appraisal Clause and process allows for the
dispute to be settled out of court. Using Insurance Attorneys and lawsuits can
have insurance claims tied up in court for years. The Appraisal Provision was
designed to keep these disputes out of court for a less costly and timelier
resolution.

Insurance Claim Attorneys will usually represent policyholders for bad faith
practices. Bad Faith is a whole other issue and sometimes happens after the
Appraisal Process has been completed. Bad Faith claims are for much larger
suites against insurance companies when it is alleged that they did not act in
good faith of the policy they sold to the policyholder. In summary; disputes
between the amount of damages and repairs will follow the Appraisal Clause
before entering into the legal system. Many Insurance Attorneys will also advise
the policyholder to engage in the Appraisal Process before any lawsuits will
begin.

How Do I know if the Insurance Appraisal Clause is a Good Option for My Claim?

If the Appraisal Clause is in your policy then it is always an option. However,
it’s wise to point out that Appraisal is usually an option when there is a
substantial difference in the amount between the two estimate totals. For
example; let’s say a fire completely destroys a house and the homeowner’s
personal property within it (Know as the Contents). The differences between what
the insurance company wants to pay and what you wish to receive is $5,000. In
this situation, the Appraisal Clause is not the best idea. After paying the fees
involved for the appraisal, you may not end up with much of the $5,000 being
disputed.

Now, if we take the same fire that destroys the property and the dispute between
the policyholder and the insurance company is $40,000, appraisal should be
considered. The policyholder now has a chance to recover substantially more
money than originally offered.

Also, the Appraisal Clause is only applicable if a dispute arises from a covered
loss. If the insurance company denied the claim as something not covered then
this is not a dispute on the amount to repair, but rather a dispute on coverage.
For example; homeowners and business policies due not cover damages from
flooding. Flood policies are purchased separately. So, if there is no coverage
for the flood damage then the Appraisal Clause is not an option.

Simply put, the Insurance Appraisal Clause is to determine the “amount of loss,”
to property only. The Appraisal Panel is not to determine coverage, policy
provisions, deductibles, how much was previously paid on the claim, etc. Let’s
say there was an appraisal for a grand piano that fell off a delivery truck on
the highway. The Appraisal Panel’s job is not to determine who’s at fault, the
policy coverage limit, if the truck had a registration, or anything other than
“How Much is the Piano Worth.”

As with our example earlier, if the insurance company offers a settlement of
$10,000 to repair a roof and the policyholder has contractor bids for $15,000,
then the Appraisal Clause may not be the best option. The process may cost more
than the $5,000 that’s being disputed. Unfortunately, the differences in
repair/replacement costs are usually much greater. When an insurance company
generates an estimate for a claim of $75,000 and the policyholder has acquired
professional bids from several contractors of $200,000 or more, its time to
invoke the appraisal clause.




REAL ESTATE FLIPPING – IS FLIPPING REAL ESTATE THE SMARTEST WAY TO GET STARTED
IN REAL ESTATE?



Real Estate Flipping – Is Flipping Real Estate the smartest way to get started
in real estate investing?

“Flip This House”, “Flip That House”, “Property Ladder”,… and on and on…

Over the past couple years you and I have been hammered on TV with real estate
flipping shows that depict these people making outrageous profits flipping homes
and making it look easier than heck.

So, is this flipping stuff real? Well… it sure is. There are countless people
out there making a darn good living flipping homes. But… the tv shows on
flipping are darn deceiving when it comes to the “reality” of real estate
flipping.

Is flipping real estate the best way to get starting in real estate investing?
I’ll let you decide for yourself. However, in my opinion, for most people,
especially in today’s down markets (not all markets are down… there are actually
some doing really well), real estate flipping is not the best way to get started
in real estate investing.

Here’s why:

First, let’s clarify two kinds of flipping.

The Fix and Flip – Where you buy real estate, rehab it, and sell it to a retail
buyer. The kind that is on the TV shows.
The Wholesale Flip – Where you buy real estate (or get it under contract), find
a wholesale buyer, and flip the contract. The kind that is less glorious… but
has a ton of money in it… with a heck of a lot less risk.
To me, the Fix and Flip method is not for most newbie’s… even though that is the
kind of real estate investing you see on TV all of the time.
Why?

You need a good understanding of rehab costs
You need to have good funding… either from a private lender or a bank (private
lender is preferable)
You need to be able to float the carrying costs if you can’t sell the property
quickly
If you don’t calculate your costs just right… there may not be a whole lot of
room for error… and room for error means greater risk on you!
The market is in a downturn… so there are less retail buyers out there for
middle income houses… which is what most people start out flipping
There are many people out there making a very good living flipping… but most of
them started several years ago… and have many flips under their belts.
They already have systems down, have marketing channels for getting buyers, have
solid lending sources, etc. Not to say that new real estate investors cannot do
all of the above… YOU CAN!

But, there are better ways to get started in real estate investing that allow
you to get in with little or no risk or money, and will allow you to learn the
Fix and Flip business before you ever take a huge money commitment to do so.

What’s the single best way (in my opinion) to get started in real estate
flipping to minimize your risk and shorten your learning curve… all the while
making nice money in the process? Well… obviously option #2 from above: The
Wholesale Flip – or in other words… wholesaling real estate, flipping houses for
quick cash, flipping contracts, etc.

When you wholesale real estate you do everything a flipper would normally do…
except actually repair the property and sell it to a retail buyer. But, you
don’t have the risk or time commitment that a fix and flipper has.

Basically, you as a wholesale real estate flipper (or wholesaler for short),
find properties that need work that you can purchase at a large discount and
flip them for a fee to a rehabber who will do the work.

Your job is to find the properties, analyze the numbers to determine the repairs
needed, create an offer that enables both you and the rehabber that you will
sell to to make a profit, and sell the contract to a rehabber who will actually
make the repairs.

Often times real estate investors will make between $2,000 and $20,000 on a
wholesale deal. So, for a low to no risk way to get started in real estate…
there are huge profits to be had.

Another reason for starting out doing wholesale real estate deals is that you
learn the ropes of what it takes to be a rehabber. After analyzing several deals
and talking to rehabbers to find out what they look for… you will have a good
grasp on what a good deal is, how to accurately estimate repair costs, who the
rehabbers use as contractors, etc.

So, you actually make money while you are getting a hands on education on real
estate flipping and rehabbing.

Anyhow, I didn’t start out to write this article to scare you from the fix and
flip mindset. There is good money in it…

My motivation to write this article is to help guide new real estate investors
away from the glorified version of rehabbing that is plastered all over TV… and
point you toward what I believe to be the best way to get started in real estate
investing.

I have something to confess…I may be a bit of a hypocrite… but I didn’t start
with wholesaling. I actually started with buying income properties. But, with
today’s markets… wholesaling real estate is the way to go to get your feet wet
and make some serious money in the process.

There is much more to real estate flipping and wholesaling real estate than the
TV “reality shows” show. One of the best ways to learn the ropes is to learn
from someone who does it everyday and makes a solid living doing it.

Go to your local REI club and hook up with an experienced mentor
Go out on your own and try to hack it yourself with no instruction (not advised)
Invest in a quality, step by step multimedia course that walks you through A – Z
on the exact blueprint that successful wholesalers and real estate flippers use.
If you want to go the route I took, the wholesaling course that I actually still
use today is shown below.
The real estate wholesaling and real estate flipping course that I think is by
far better than any other out there is below. They always way over deliver and
they are the only “gurus” out there that I can truly say are trustworthy and
good people. I’ve bought a ton of courses, and the Wholesaling for Quick Cash
(link below) is the only one I’d recommend.

The Wholesaling Course I Recommend – Most Actionable one I’ve seen

So, whatever you do to get started in real estate investing, just do it. Taking
the wrong action is better than taking no action at all.

Good luck… and Cheers!

Trevor Mauch is a young real estate investor and entrepreneur who purchased his
first income property at the age of 21. Trevor focuses on creating multiple
streams of passive income along side active income in both real estate and his
other businesses.

As a passion, Trevor loves to help people succeed in life and real estate
investing. To help people achieve success, and to provide a real down to earth
source of real estate, life success, and business building information… Trevor
created the website The REI Brain (link below).

The REI Brain focuses on providing free information and training to people to
help them utilize the three important prongs of success that must be taken into
account before anyone can reach true success in real estate investing.



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 * RECENT POSTS
   
   * Investing In The Miami Condo Property Market
   * What does a home appraiser look for, Commercial Real Estate Appraisers
   * Insurance Appraisal Clause… A Policyholders Best Chance to Resolve an
     Insurance Claim Dispute!
   * Real Estate Flipping – Is Flipping Real Estate the Smartest Way to Get
     Started in Real Estate?


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