May 30, 2009

Competent Moped Storage Might Tack on Time to the Vitality of Your Motorbike

Incontrovertible, folks should continue to depot one’s hog in & around the back of your barn. Nonetheless, one could imagine that, in acting this you are facing prime uncertainties. Excessive temperatures, smut or soil will decline the longevity of your bike furthermore, let us front this; vandalism & floods are damaging cases. Even the things people might often check offer dormant risks. Reckon one the functionality of your shop or maybe your misfortune of knicks & dings, even while it is concealed. You can’t just stand back & flinch when one’s young offspring is pulling barn car inside your parking space for yet the 1st time. Be proactive! Secure your assets & prepare space for the barn by taking advantage motorcycle storage buildings at a local motorcycle storage facility. enduro storage does not alone guarantees some safety of your hog, it furthermore presents ease of access with extra. protection. Tons of public storage facilities offer drive up and drive out accesses, enabling clients to take profit of any unclouded moment a whim. More information on all matters storage, click here.

As well as a motorbike self storage unit people can often breath worry free knowing that one’s bike will be safe and secure the entire time. Available at a firstrate self storage unit, 1 should govern entry to the storage unit so 1 can only be at ease that one’s Harley will be out of harms way when it will be found in a storage building.

Do not Underrate the Value of chopper Winter Storage.

Motorbike winter storage is a necessity for those cool periods and qualified moped parking is a vital part in the conservation of your bike. As with any vehicle, the catalog for maintenance will be great. Just when folks would scrub some motor, clean the chain, exchange the oil, plant a battery trickle charger as well as remove the gas; attaining excellent hog winter self storage is just as imperative to the overall lifecycle of one’s hog. While looking for local storage for hog keep the eye out for temperature controlled buildings or feasibly units to certify the leading safety for the motorbike.

moped self storage facilities facilities are unquestionably worth the expense. Take qualified care of your worth so that one will only appreciate peace of mind understanding that you could be able to like one’s moped’for lots of time to come.

August 23, 2008

Solar Power Can Reduce Your Homes Energy Bill

Filed under: Real Estate Tips + More, Great Home Improvement Tips — admin @ 7:10 am

When fuel prices were low, it was unnecessary to justify the upfront expense of cash required to install solar panels, solar water heaters and similar equipment. The reason was simple to understand - it would simply take too long to recoup the cost of the equipment in the form of lower energy bills.

The recent rise in energy prices changes this dynamic quite a bit, however. As energy prices continue to go up, the amount of time required to recoup the upfront cost goes down. In addition, a number of state and local tax incentives make it even easier for homeowners to go solar and save money right away.

Solar power has already proven itself and its ability to lower energy costs substantially, and more and more homeowners are taking a serious look at converting their residences to solar power. The costs of installing solar panels is still high, with a typical two kilowatt installation of OVR Solar solar panels costing around £10,000 / ($20, 000) in most cases, but special tax incentives and long term energy savings can help homeowners recoup those upfront costs faster than ever before.

Governments around the world are increasingly willing to help. This tax savings can help eligible homeowners recoup some of the costs of installing solar panels and solar water heating systems up front, in addition to the energy savings they will enjoy down the road.

Many states also provide special tax incentives for homeowners who install eligible solar panel and solar water heating systems. The specifics of these tax rebates and tax incentives vary from state to state, but many states provide at least some level of tax relief for homeowners who install and use energy efficient systems.

The factors affecting how long it will take to break even will vary from case to case.. However, as the prices for heating oil, gas and other forms of traditional energy continue to soar, so will demand for alternatives

July 12, 2008

Buy new real estate with bkr mortgage, 230340 euro is not a problem

Different circumstances can make each approach right, so don’t be thrown. In other words, the mortgage is a security for the loan that the lender makes to the borrower. Arranging a mortgage is seen as the standard method by which individuals and businesses can purchase residential and commercial real estate without the need to pay the full value immediately. See mortgage loan for residential mortgage lending, and commercial mortgage for lending against commercial property. While a mortgage in itself is not a debt, it is evidence of a debt of 10 percent. Many of these fees are fixed but some can be negotiated.<P> A mortgage is the pledging of a property to a lender as a security for a mortgage loan for 6 percent. Go for new real estate with <a href=”http://www.snel-geld.info/geldleningen-met-bkr-registratie.html” title=”geldleningen met negatieve bkr notering”>geldleningen met negatieve bkr notering</a>, 473251 euro is not an issue.<P> To find out which fees can be negotiated, compare the fees at each mortgage company you’re considering. And of course, each loan and each borrower are different. Both banks and brokers have their strengths and weaknesses. Start with credibility. It’s not easy to know if the prices quoted by lenders are reliable. It is a transfer of an interest in land, from the owner to the mortgage lender, on the condition that this interest will be returned to the owner of the real estate when the terms of the mortgage have been satisfied or performed.<P> In most jurisdictions mortgages are strongly associated with loans 11 percent secured on real estate rather than other property and in some cases only land may be mortgaged. Different lenders charge different fees. Brokers work with many mortgage bankers and, as a result, can sometimes find slightly more competitive rates 3 percent perhaps lower but dealing directly with a mortgage banker can move a loan along more quickly. So how do you find a lender or broker you can trust’ Some will quote you precise, competitive rates 8 percent. Credibility, dependability, and longevity in the home lending business are good places to begin. See which lenders are charging fees 4 percent and for how much. Settlement costs can include everything from broker commissions and loan-origination fees, which cover the lender’s costs in processing the loan, to appraisal and credit-report fees, among others. Although most mortgage experts say that rates 10 percent are pretty much the same wherever you go, give or take this tiny 11 percentage. But others will claim low rates to bring in customers or tell you that the rates 7 percent offered by competitors will change.<P> Depending on your situation, that may make a bank loan more appealing than a mortgage processed by a broker.<P>

May 18, 2008

Assessing Home Value In Olympia Washington

Filed under: Real Estate Tips + More — admin @ 8:10 pm

The assessed home value is the amount of money the government tax assessor says your property is worth. This assessed home value determines how much you will pay for property taxes. The government assessor usually works on the county level, meaning the assessor is somewhat familiar with your area. Being familiar with the area allows the assessor to make a good decision when it comes to determining the market value of your home. Once the value of your home is determined, a series of mathematical formulas set by the county government are used to determine how much you will pay in property taxes.

To find out the assessed home value, the county assessor will first find the market value of your home. They can do this by observing what prices similar homes in the area are selling for. County assessors usually keep the market value at a reasonable level. The assessor then takes the market value of your home and multiplies it by a percentage determined by the local government. This determines assessed home values. The county auditor or controller then takes the value determined by the assessor and uses a fixed formula, which includes subtracting any exemptions, to determine your property tax amount. The county assessor only finds the assessed home value; he or she does not determine the tax amount. Some counties have property tax exemptions for seniors. These exemptions take a specified amount of money, usually under $5000, off of the assessed value of the home.

Property taxes seem to keep going up and up and up. Some counties realize that this isn’t good for seniors who have lived in the area for years, but are now on a fixed income. These counties will put a freeze on property taxes for seniors. You need to meet age and income qualifications and notify the county that you wish for them to put a freeze on your property taxes. The only way you can lower property taxes for everyone is through legislation.

The assessed value of your home is determined every three or four years, depending on your county’s laws and regulations. If you do not agree with the assessed value of your home, you can appeal to the assessor’s office.

After your home value is determined by the county assessor, and the amount of property tax you owe is determined by the auditor, the county treasurer (or tax collector) sends out property taxes and collects them. The county treasurer then sends your property tax to the county auditor, or controller. The auditor allocates the money to local government agencies that will spend your property tax.

So what do they spend your property tax money on? It depends on where you live, but property taxes often go to school districts, as well as city and county government.

If you have any specific questions about assessing home value in your area, or how it affects property taxes, get in touch with the county assessor. Many county assessors have an Internet website where many county specific questions can be answered. You can also contact the county assessor by phone or by mail with questions about your assessment.

Inside Olympia Real Estate is a network entirely devoted to real estate information. The entire Inside Real Estate network has more than 100,000 pages of real estate for cities allover the United States. Inside Real Estate covers several topics from the basic “how to’s” of real estate to city-specific real estate information.

May 12, 2008

Why is Florida Property Investing so Popular? Florida PreConstruction Investment Homes

Filed under: Real Estate Tips + More — admin @ 2:57 pm

Here are just a few of the many reasons why:

-Rapid Real Estate Appreciation Rates. (Number 1 State in the US)
-Population Growth - Supply & Demand - Fastest Growing State in the US.
-Huge Pent up Demand for Affordable Housing.
-Affordable Prices. (relatively undervalued land - low construction costs)

-Baby Boomers Trends.
-Number 1 Retirement Destination.

-Year Round Fantastic Weather.
-1,200 to 1,800 miles of coast line. (some of the best beachs in the world)

-Number 1 Tourist destination.
-International Appeal.
-Tremendous Business Growth. (Pro-Growth Government)
-Landlord Friendly State.
-No State Income Tax.

Florida’s Real Estate Investment Market

Will the rising prices in the Florida real estate market continue, or will this bubble burst? During a time that has seen the largest piece of land being purchased in Florida since 1965 (which, by the way, was when Walt Disney bought 30,000 acres in what is now Orlando), most real estate investors are wondering how much longer the trend will continue. We are happy to say, we believe it will last for quite some time and this is why:

Savvy real estate moguls are purchasing large parcels of land not for the purpose of quickly cashing in on this booming market through the development of new homes and communities. What these developers have realized is that the expected growth in population for the state of Florida is estimated to be an increase of 35,000 new residents per month, with the trend estimated to continue for at least the next 30 years. As the population continues to grow over the next 30 years, these large parcels of land will only go up in value.

What makes this population growth even more impressive is that it is no longer low income retirees coming to Florida, but wealthy individuals looking to retire in the sunshine state (300 days a year of sun). As the first wave of baby boomers reach retirement age, we are seeing that they possess 70% of the nations’ net worth. As this group of the population makes up a huge percentage of our countrys’ population, about of these people have no intent on staying in their current location, but are looking to live in places with a high level of “lifestyle” and warmer weather.

With this increase in money coming into Florida with the boomers, business opportunities and job growth will not be far behind. With this we see an increase in the numbers of 20 to 40 years odds looking to take advantage of this growth and demand for new goods and services.

One of the best ways to take advantage of this continued growth in Florida as a real estate investor is pre-construction Investing. By locating a preconstruction investment project in an area that is in high demand, or is projected to be within the next couple of years, you will have the opportunity to profit on the appreciate of your investment before it is even completed! Plus with the estimated growth over the next 30 years, this is not a limited time opportunity, but one that should last for at least the next 15 years.

Florida Median Home Sales Price Grows by 27%

Doug Lasley (Broker-Associate)
BuyVacationCondos - LANDDepo
Call 407-876-5771

info@BuyVacationCondos.com

http://www.buyvacationcondos.com

May 10, 2008

Home Loans: Where Do I Begin?

Filed under: Real Estate Tips + More — admin @ 4:30 am

So you’ve finally decided you’ve had enough of paying rent and want to jump into home ownership. Well you’ve got your work cut out for you. Plumbing problems are now your responsibility, not your landlord’s. A nice, clean yard is also your responsibility, not your landlord’s. The air-conditioning goes out in August, who do you call. Not the landlord, you’re now responsible. Yep - a lot of work.

But none of that matters if you can’t get into the house in the first place. Unless you just won the lottery or your dead Uncle Fred left you a small fortune, you will have to take out a loan to get your dream home. But where do you start. It’s more complicated than going to the bank and asking for a loan. There’s 100% financing loans for those with no down payment. Government loans for those who qualify. Conventional loans where you, as the buyer has to come up with a substantial down payment. And that’s just the beginning. So let’s take a quick look at what is out there to help you get started on the most important financial purchase you will ever make.

A conventional loans is the type of home loans most people think of when they think of borrowing money. The conventional loan requires good credit and at least a 3% down payment. That’s at least $3,000 down, WITH good credit, on a $100,000 home. And how many of us out there have a completely clean credit report? If you’ve ever been late on a car payment or a credit card payment, or even if you’ve been late returning a movie, this may not be the kind of loan for you. Anything can show up on your credit report and keep you from getting a conventional loan. But you have options.

Two of the more popular alternative home loan programs are 100% financing and government loans. One-hundred-percent financing loans are available through the VA, FHA and conventional means. But if you try to get a 100% financing loan through conventional means, your credit report had better be so spotless that it’s opaque. Not an option for most people.

The Veteran’s Administration and the Federal Housing Authority both offer 100% financing loans - which means you don’t have to come up with a down payment. But you will pay a price. Both the VA and the FHA consider 100% financing loans high risk and offset that risk with a higher interest rate.

But that’s just the beginning. You have numerous options available to you if you put in the work to really research home loans. In addition to conventional, VA and FHA loans, there is a whole host of other options available depending on where you fall on the perfect-to-lousy sliding credit scale. Following are just a few:

  • A no income verification loan allows those with good credit but no verifiable income or assets to get out of their apartment and into a home.
  • Imperfect credit loans allow borrowers with less-than-perfect credit to qualify competitive interest rates to buy a home. This kind of loan can also be used to consolidate debt, lower payments or make home improvements.
  • Pre-approval programs allow you to assess how much house you can afford, as well as get you the information and conditional approval you will need to purchase a house, even before you have a property picked.
  • First time homebuyer programs are popular because they allow consumers with good credit, but not a long credit history or a lot of money to put down, to get into a home.
  • New construction loans allow the buyer to get a fixed interest rate while the home is being built and to keep that loan after they move in, even if the interest rates have changed. But beware; this is an advantage if the interest rates go down. But if you lock in a certain rate and the interest rates go down during construction, you will still be paying the interest rate you locked in.

So as you can see, you have your work cut out for you. Don’t jump into the first deal you come across. “Research, research, research” should be you motto on this new endeavor. Find out every type of loan that you qualify for and decide which is better for your situation. But remember, you can’t wait for the maintenance man to come fix your toilet anymore. Go buy a plunger. The toilet is now your responsibility. After all, it’s your house. Good Luck!

Allen Shaw is a successful author who provides tips and information on home loans and refinance loans. “I am the news director at USA News Network and have been working as freelance writer for 2 years. I’ve been published in a few magazines, newspapers and websites and my specialty up to this point has been movie and music reviews.”

May 8, 2008

Buying a Vacation Home

Filed under: Real Estate Tips + More — admin @ 10:28 pm

You’d like to buy a vacation home, but you’re not sure where to begin. Perhaps the single most important point to determine up front is why you are buying a vacation home. Are you trying to generate income by renting the property? Would you like to have a place to take your family every year that will likely appreciate in value? Would you prefer some flexibility in location and like to vacation at a different spot each year?

Once you determine your needs in a vacation home, it is wise to understand some of the options available to you in buying a second home. Probably the most straight-forward is to consider purchasing a home outright. If you can’t afford the full price of homes in the area you desire, there are still a couple of options available for you. One is to consider purchasing a home with friends or family, while another is to look into timesharing. All these options have nuances to consider in relation to your needs and means.

By purchasing the home yourself, you have the most control over the property and can capture all of the gains and benefits associated with owning real property. You may also be able to offset some of your expenses by renting out the home in peak seasons. Be sure to investigate federal income tax laws so you can make the most of any potential tax breaks. Also ask about zoning, covenants, land use in areas surrounding your property, and property management fees. In some areas these restrictions may prevent you to use your property as you wish. Additionally, be prepared to pay as much as 25% of your rental income in property management fees for weekly rentals.

If you decide to purchase a home with friends or family, make sure to put the agreement and all terms in writing. You may want to do most of this in advance as many homes go quickly and it will help target your search to the right kinds of homes. You may also want to consider homes with features that allow all the owners to be at the home at once (multiple masters, separate living spaces, etc). Again, the questions and concerns above should be considered.

If all this is too complicated, inflexible or expensive and you’ve come to the conclusion that timesharing is right for you, be aware that a timeshare purchase is not an investment. Most units depreciate over time and the resale market is tricky to navigate. If you are buying with a resort developer, make sure they are financially stable. Also be sure to find out what they offer for buying through them as opposed to the resale market. At times, the resale market will offer the same unit and season at a fraction of the price the developer is offering. You’d also be wise to arrange for your financing in advance, as developer financing is usually offered at above market rates.

Lastly, don’t buy on a whim. You didn’t buy your primary residence that way, and you shouldn’t buy a second home without due diligence. Research the location. Make sure the area has the amenities and recreation you desire, allows you to use the property as you wish, and is within your budget.

EzineArticles Expert Author Reid Colson

Reid Colson is a Principal in Bridlewood, a custom home builder serving the Central Virginia market. Bridlewood builds custom homes and vacation getaways for discriminating buyers. They are committed to providing the highest levels of professional service and consistent communication throughout the design and building process.

Visit http://www.bridlewoodproperties.com for more information.

April 23, 2008

Mortgage Mailers: Am I Really Pre-Approved?

Filed under: Real Estate Tips + More — admin @ 12:47 pm

Isn’t it annoying to get all that junk mail from companies trying to get you to apply for a home mortgage? This is a typical letter from our readers:

“I keep getting pre-approved mortgage offers in the mail (several a week), and this makes me very uncomfortable. Many of them are from out of state banks or companies I have never heard of. I have been told there is a way to keep these companies from sending me these offers or inquiring about my credit, but no one has been able to tell me how I should go about this. Is there an address or phone number I can contact to take care of this?”

Getting off a Telemarketer’s List

When a telemarketer calls, document when and where they are calling from and ask them to please put you on their “do not call list” (use those exact words). According to federal law they are not allowed to call you again. If they persist and continue to call you, you can make a report to National Fraud Information Center.

Junk Mortgage mailers:

You can write to Experian Consumer Opt Out: 701 Experian Parkway, Allen TX 75013 or call (800) 353-0809 (one call or letter gets you off all three bureaus).

I have received numerous calls from my readers claiming that they had just gotten a loan from a telemarketer or from mortgage mailers. One of them had given me full details of what occurred when she applied for a loan thru them. A call was initially received from a telemarketer and when the client replied, a representative got some information and advises that a service loan representative would call her back. One did, and after getting all necessary information they offered her a rate that she thought was good. Their processing time was very quick, within about a week and a half, the loan representative called again and said that she had been approved and that the papers are ready for signing. They scheduled a signing date, once all documents are laid down; the borrowers noticed that her closing cost was sixteen thousand dollars ($16,000). She then refused to sign; a manager called and threatened to sue the borrowers for a commission. The borrower then thought she did not have a choice and followed his instructions and signed. Now, they are closed and the commission was paid to the mortgage company from Michigan.

One lesson to be learned from this, Real estate lending law varies from state to state. Not only that, a mortgage company could be governed by Department of Real Estate or Corporations. There are major differences is all governing bodies.

I tried to inquire about mass mailing myself for my business, I found out that it is not important what you can offer the clients but how you can draw them in to you and then close them. These companies sometimes sell your information for pennies, they send out millions of mailers and when someone calls, they have professional closers to tell you anything you want to hear just to get your business. The percentage of closing if very low because most of the people hate telemarketers and mass mortgage mailers. That is why these companies always try to come up with innovative ways to send you mailers or call you.

With mortgage business slowing down, I am sure the telemarketer and the mortgage mailers will increase.

I recently got a call from a telemarketer who does not know I was in the business; I played along with their sales pitch and wanted to see how good they are in trying to get me a loan. They were offering a 1% loan with no discount points. I started asking deep questions like, what are the margin, indexes and the life cap. The representative tries to stir me into mostly the low payment that this loan offers. I ask if there was a negative amortization (increasing principal balance) on this loan. They clearly said “NO” and said that I have options and again tried to focus on the low payments again. I then ask for a good faith estimate to be sent to my fax number, I got it after 3 days. I then noticed that they are charging me an origination fee of 2%, I ask the representative about this and he said that he already gave me a discount for not charging me a discount points.

In my business, they are the same fees and that is a huge deception. I then went down the list of other closing costs: there are about $1800 in other miscellaneous fees. I then called and said I was not interested anymore, the same scenario happened, another person came into the picture and tried to talk me into this loan. He gave me some discount and said that we are ready to close. I asked this person about the negative loan, he explained it a little better but kept directing me to the minimum payment that is low. I then said I am not interested. The person I spoke with was a manager and got frustrated in trying to close me and then hung up on me.

Don’t believe your mailers or telemarketers; they are just trying to talk you into putting money into their pockets. Be very careful, so far I have not heard of a good deal with one of those specialty marketing strategies. Best to always get all details of the loan in writing and not verbal.

Ken Go - EzineArticles Expert Author

——————————
Ken Go has been running his southern California home loans business since 1987. His honesty and courtesy equal loyalty to his customers. Forget about “good faith estimates.” With 1st Innovative Finance Group, all loan rates and fees are guaranteed upon application. Ken Go writes a California home loans blog for anyone who might want free advice about financing a home with a mortgage. Ken speaks English, Chinese, and Filipino (Tagalog).

April 8, 2008

Mortgage Refinancing - Does Size Matter After All?

Filed under: Real Estate Tips + More — admin @ 4:52 pm

Hopefully your ego has never had to experience the words, “It’s okay honey. Size doesn’t matter.” After all, what’s important is the quality right? In a perfect world, perhaps this is true, but in the realm of mortgage refinancing, what is best is usually based on length. Let me explain.

The majority of mortgages are given at terms of either 15 or 30 years. This simply means that if you have a mortgage of $150,000, you will have to pay it off in pre-calculated payments (fixed mortgage) over the next 15 or 30 years depending on which loan you have chosen.

Both long term (30 years) and short term (15 years) loans have their benefits and drawbacks. With a long term loan, you are going to benefit from having significantly lower monthly payments. This makes sense because the loan amount is spread out over a longer period of time. However, because the length of the loan is extended over 30 years, you will be paying higher interest rates and subsequently, more money in interest as opposed to a shorter termed loan.

On the other hand, a home mortgage loan with a length of 15 years is going to have a much higher monthly payment than a 30 year mortgage. However, the tradeoff is that you are going to pay much lower in interest due to shorter terms carrying an overall lower interest rate.

Some financial analysts recommend a 15 year mortgage as the best home mortgage loan. They believe that although you are paying more monthly, you benefit from having the mortgage paid off quicker which saves thousands in interest. Also, by paying more on your mortgage in a shorter period of time, you are increasing the rate at which your equity is being built.

Yet again, other lenders and economists recommend the 30 year mortgage for the lower payments and tax benefits. If you are concerned about length, they recommend purchasing a 30 year mortgage (minus prepayment penalties) and pay extra on the principal. This allows you to benefit from the lower monthly payments and tax benefits as well as having the loan paid off in less than 30 years.

The “best” mortgage length for you depends on what you are willing to compromise on. Both 15 and 30 year loans have their advantages and disadvantages. My advice is to use a mortgage payment calculator and see which term works best for your financial situation. Regardless of the choice, take pride in knowing that you are a homeowner.

Ben Morgan is the author of Home
Mortgage Refinancing. Every day this site gives away countless valuable tips, information, and breaking news to help you make the best mortgage refinancing decision.

April 3, 2008

Estoppel Certificates

Filed under: Real Estate Tips + More — admin @ 12:39 pm

Estoppel, to the non-initiated, sounds more like the newest toy in the Pentagon’s vast array of secret weaponry and armaments, something that belongs more to Area 51 than the real estate world, or perhaps the latest scandal to permeate Capitol Hill. “CIA’s Probe Leak: The New Martin Lochheed F-22 Supersonic Estoppel!“, one might envision reading one day in the front page of USA Today. But readers of my Articles know better …

In Real Estate, an “Estoppel Certificate” is a document signed by the Seller, under oath, confirming the representations made by the Seller in the Contract of Purchase and Sale. The reasons for the Buyer to request an Estoppel Certificate are twofold. First, to confirm the Seller’s representations as stated above and, secondly, to bar and prevent the Seller from later on asserting a fact, that is inconsistent with the terms of the Contract.

For instance, when purchasing a rental property - whether a house or an apartment building - an investor might want to insert the following two conditions precedent (’subject to’ clauses). The first might read:

Subject to the Buyer by ( insert date ) reviewing and approving the Residential Tenancy Agreement(s) presently in effect and covering the property herein bought and sold. Seller warrants that the term(s) of the tenancy is/are for a period of ( insert length of tenancy ), the monthly rent(s) is/are ( insert amount ) and that the last rental increase was on ( insert date )“.

What happens if, by the time all the subjects are removed (and the property is virtually sold) and the time the investor completes the transaction, the tenant is run over by a bus and dies? In some instances the market value of the subject property may be altered, as in the case of an investor purchasing a professional building. This is where an Estoppel Certificate fits in.

The second clause might read:

Subject to the Buyer, after all the other subjects herein are removed but in no event before two weeks (or any other time) prior to completion and no later than one week (or any other time) prior to completion, receiving, perusing and approving an Estoppel Certificate ratified by Seller covering the existence and confirming the validity at law of the subject matter and terms of the tenancies herein. Failure by the Seller to provide such Estoppel Certificate in the aforesaid time-frame will render this Contract null and void, and all deposit monies until then paid by Buyer will be refunded to Buyer forthwith with interest accrued thereon, if any there be“.

The reason for Estoppel Certificates to exist in Real Estate is to be found in the equitable Doctrine Of The Promissory Estoppel. Under this doctrine, one party is barred and prevented from withdrawing a promise made to another party, if the latter has relied on that promise and acted upon it. All the more so, since contracts in real estate are made ‘under seal’ (deeds) and, as such, the rule of evidence arising from the special status of a deed is that the parties are expected to take greater care to verify the contents of the agreement and their validity at law, before consummating it.

The American Law Institute goes one step further by discerning between equitable and promissory estoppel in its Restatements of Contracts as follows:

Equitable estoppel is distinct from promissory estoppel. Promissory estoppel involves a clear and definite promise, while equitable estoppel involves only representations and inducements. The representations at issue in promissory estoppel go to future intent, while equitable estoppel involves statement of past or present fact. It is also said that equitable estoppel lies in tort, while promissory estoppel lies in contract. The major distinction between equitable estoppel and promissory estoppel is that the former is available only as a defense, while promissory estoppel can be used as the basis of a cause of action for damages. The American Law Institute’s website can be found at http://www.ali.org.

All the foregoing simply goes to prove, once again, that the discipline of real estate wheeling and dealing is littered with rubbish all the way - until such time as a contract is entered into and ratified by the parties, at which time Real Estate suddenly becomes all too deadly serious.

Luigi Frascati

Luigi Frascati - EzineArticles Expert Author

Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He holds a Bachelor Degree in Economics and maintains a weblog entitled the Real Estate Chronicle at http://wwwrealestatechronicle.blogspot.com where you can find the full collection of his articles. Luigi is associated with the Sutton Group, the largest real estate organization in Canada, and is based with Sutton-Centre Realty in Burnaby, BC.

Luigi is very proud to be an EzineArticles Platinum Expert Author. Your rating at the footer of this Article is very much appreciated. Thank you.

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