The Misconceptions Of Buying Overseas Property

We left off at that part of our continuing story about Janet and John when they decided to look around the local area having placed an offer on their first dream home in Spain.

They found a street caf? in a village just north of Gandia. John ordered refreshing drinks in his best Spanish, and they settled in their chairs as the thoughts and dreams jumbled in their heads. It had been a very long day and a state of confusion was certainly in the air. Janet was just starting to realise that John had actually bid on a Spanish Property! She had definitely wanted it and had even suggested he used his Amex card to secure a reserve with the owner. Now the logic began to creep back into her well ordered life as the Tonic and Gin seeped into her bloodstream and she became quite pleased with John. The latter was an unusual feeling, poor John. Her husband was not normally well known for making snap decisions and turning the tables on enthusiastic salesmen; but he had done it, he had made a counter offer which was serious enough to stop both the owner and the agent in their tracks.

?Where did that all come from? Janet asked John, John replied eagerly giving Janet details of a website he had been relying on for information where he had found so much useful information for buyers that he had now become an expert himself! He explained that the website was one of many he had looked at from Home but this was his real favourite as it appeared to act as an independent source of information and had formed its agents all over Europe into an Association. In fact Jose Miguel had also been introduced by the same website and was an accredited agent to their association. He had one regret, and that was he had found the site late and could have saved them both a lot of problems. However here they were, the potential owners of their place in the sun.

?How will we afford it John? the Villa was 55K over their original 200K budget. John had offered 225K. ?Well I can probably arrange a top up mortgage with a local Spanish bank?.

With the amount of savings John had allocated any reputable local lender would be happy to offer them a up to 80% of the bank valuation which allowing for valuers to be miserable in their valuations for bank purposes, then as a rule of thumb Janet and John could expect a mortgage for up to 50% of their purchase price. John was now considering the added costs which he had been advised could be an additional 10% on top of the purchase price. Then there were the improvements he might undertake to the property. Furniture to be bought, a re-wiring project might be necessary and moving costs. As his Gin seeped quietly into his system he calculated that an additional 75K mortgage would be comfortable and affordable at the low rate he could achieve in Spain. Now they felt more relaxed.

Janet and John drove around their potential home village and surrounding environs and discovered to their delight a Doctor?s surgery, a pharmacy a railway station and a sign for a local hospital. So far so good.

The next morning the agent called. Jose Miguel had secured an agreement with the owner and 225K would be acceptable. Janet and John were delighted and a big hug ensued. Jose Miguel offered the services of a local English speaking solicitor and asked John to come into the office as soon as possible with the 6000 reserve to finally clinch the deal. Aah! Here comes that word Reserve again.

John consulted his favourite website where he had seen previously that there were Property Pals to help and guide you through the potentially painful learning curve of purchasing overseas property. He clicked through to the Pal page and sent an email to the local Pal in Gandia.

Dear Andy, this is my situation??.what shall I do now?

Janet and John went to see the solicitor who acted independently from a different office to the agent. He spelt out all the legal implications and costs that were involved and promised to look into the legality of the property as soon as possible. John was advised to apply for his NIE number (Spanish National Insurance identity number) and to go and open a bank account. The solicitor Raphael said he was happy to help in that respect but John wisely decided to paddle his own canoe for a while.

When he returned to the Hotel after an excellent lunch he was delighted to have received an answer from Andy his local Property Pal. Andy confirmed that the agent was accredited to the MyPropertyPal Association of Overseas Property Agents and that the solicitor he had recommended was known to Andy and could be trusted. Phew! What a relief, Andy also mentioned that he could give the reserve to the solicitor who would confirm to the agent that he had received it and subject to the searches being successfully carried out it would be released to the agent or solicitor acting for the owner. In this way Janet and John would be acting in accordance with acceptable Spanish process and could secure their property. Once the deposit had been paid, Andy had said owners rarely de-faulted on the deal done as by law they would have to return a double deposit to the purchaser as compensation!

Janet and John decided to go back to the property for a long hard look in the cooler light of the next morning.

All in all another good day for our intrepid pair until the phone rang whilst John was in the shower. Janet took the call. When John came out of the shower he found a crestfallen Janet. What was the problem? Apparently the agent had rung to confirm that the owner needed to be paid 150K in hard cash (Under the bed money) and this needed to be brought to the Notary?s office on the completion date. How could they arrange this? Did they have the money? Was this the fly in the ointment? Did John have the answer to this problem or could Andy help?

Well, what Janet did not know was that this is fairly normal in many Mediterranean countries where owners seek to mitigate capital gains tax. However there are ways for buyers to solve the associated problems of paying in part cash.

Read part 5 and find out how Janet and John cope with this new development

Hugo Raymond
Founder of http://www.mypropertypal.com

What Is The Right Amount Of Computer Time?

In a country that settles each night in front of the television, it just seems strange that more and more people are finding the allure of the computer screen sometimes more important. There is no doubt that children do as their parents do. They enjoy exploring the vast world of the Internet. They are excited to get that new computer game. But, how much time in front of the computer screen is the right amount of time?

There is no doubt going to be a number of people that come out and say that children are spending far too much time in front of the computer. They may end up telling us that their eyes will go back or something. Regardless of what they will say, we know now that it is important to limit the amount of time children use the computer. We know this because we know that it just makes sense that children who play on the computer too much loose the physical aspects of life along with the elements of pretend play that actually teach them quite a bit.

As parents, it is up to us to limit what the child is doing. It is up to us to provide for them something worthwhile to do while they are on the web as well. In this, we mean that you, Mom or Dad, need to commit to knowing which games they are playing and which websites they plan to visit. Here's a great way to limit what they are actually doing.

Instead of allowing them to surf and end up on some bad website out there, go ahead and download a game or two for them. Games that are available on the web are fun, but when the parent gets to do the picking, they can be fun and educational at the same time. Does your child need math help? Then go ahead and give them a fun math game that teaches what they need in an easy to get along with manner. This can be done for a number of subjects like spelling, science, history and language. By giving them a computer game like these, they can make their computer time, well, worth it in your eyes.

You would be surprised by how many parents simply say, Yes, you can play on the internet. Many of them do not know what their child is doing let alone know that he or she is playing an educational game! Yeah right! Most kids are going to find and play a game that interests them with flashing colors and graphics. That doesn't mean that they won't like games that don't provide this element. But, the websites they tend to visit are full of advertisements that lure them in. Your job is to point them in the right direction.

So, back to our question; how much is the right amount of time for computer time for your child? Well, inside that question is the word, your and that means that it is at your discretion that you should consider their need. Balance their day with physical, emotional, pretend and all those other important educational elements then add in a little time for computer play. Believe it or not, they are building skills that they will need later in life too.
About the Author

Is Socializing Emerging From Online Gaming!

As technology evolved, the online games also went forward for the better. Single player games progressively gave company to two-player games, followed by multi-player games, rendering the environs with the element of virtual competition and fertile with potential of socializing.

Sites that offer free online games generally require the prospects to sign up with their own username, password and general details. This sign up practice allows the users to camouflage their true identity. It has been observed that players tend to submit false information about their gender to explore relationships or to be treated in a better manner in the virtual world.

Dedicated observations of the websites catering online games with over hundreds of thousands of subscribers reveal a striking pattern amongst signups. It has been rumored that male gamers generally sign up as female gamers so as to be treated in a better manner and hence escape competition from fellow male members.

The virtual world of online games has been found extensively male-dominated. Aggressive male players are suspected to behave better or differently in case they know that the competitor is a female. It is believed that the male contenders are lenient with the female gamers, rendering them a little laid back and less aggressive while playing. Thus the female disguise helps in brightening the chances of a win, or to put it in different words? escape competition. It is also rumored that female disguise in the virtual world secures the male gamer a better treatment.

Another striking feature that has been observed amongst the online gamers include social developments. It has been gathered that multi-player games can be very social. For example, in the shooter genre, players have been seen bonding with each other through clans or groups they form to fight another group. They fight as a group against another group! They socialize beyond the game and bond with each other as friends/mentors/well-wishers. They extend moral support to each other during hardships and even find each other jobs!

Another example of how online game communities evolve social environments is WW2 flight simulation called ?Air Warrior?. The players of this game have been found ardent social groups who even hold periodical get-together!

Besides, massive multi-player role-playing games have also found to be famous for the strength of their communities. In simpler terms, sometimes gamers assume the gender of the fellow player with his/ her username, while actually it could be a mere false play in order to explore a different experience. As a result, the players find themselves interested in their fellow players socially speaking and interact with each other in a friendlier manner. This sort of enriches the fun element in the online game involving many players.

On the other hand, when it comes to single player games, socializing depends upon the nature of the game, which may require special skills or understanding, for example, a game of chess.

To conclude, the Internet is proving to be a connecting point on a global scale, surpassing all individual differences related to caste, creed, religion and region. Websites catering flash or shockwave based online games to its thousands of subscribers, free of cost, are actually contributing to the cause of social harmony and wider social networks that defy boundaries of geography, economy, culture, degrees of education and family traditions. Communities are playing fields for social interaction. When gamers send messages to other gamers, they are free to exchange email addresses and meet beyond the game community. Communities have become an extension, a new medium of human touch.

About the Author:

Jonathan White, owner of SimplySearch4it - Free Online Games , Entertainment Portal

A Fresh Line Of Baby Strollers From Maclaren

Why Do You Need Help Buying Or Selling Your Home In The New Market

Since the latter part of 2005, it seems like Real Estate signs are popping up in yards like weeds. As of July 31, 2006 there were 15,743 listings on the market for Pinellas County (9,549 Single Family Homes and 6,194 Condos). With this many homes on the market, it begs the question ? Why Do You Need Help Buying Or Selling Your Home In The New Market?

As anyone who has been in the market for a home recently knows, there are A LOT of homes to choose from. If a buyer is not specific with their criteria the number of possibilities can be overwhelming. By sitting down with an agent, the homebuyer can discover what is truly important to them and only look at homes that meet their exact requirements, including location, price or features.

Once a property has been selected, the buyer?s agent can also help negotiate the best possible price for that home and also make sure that the buyers financing needs are all met. Most agents have a good working relationship with a lender who can facilitate a smooth financial transaction for the buyer. In addition, more buyers are able to take advantage of seller assisted closing costs and other creative financing options which their agent will help them to negotiate during the offer.

Having an agent on their side in this market is also vital for home sellers. With all of the local competition it is not enough to just put a house in the MLS system and hope it sells. Agents are now utilizing every avenue available to market their listings including direct mail, the internet, homes magazines and on-site events like Broker?s Open Houses and Public Open Houses. Additional ideas like increasing the buyer?s agent commission, offering bonuses and assisting with buyer?s closing costs are also methods that can generate buyer interest.

The current absorption rate (the percentage of the homes on the market that sold in any given month) is a good indicator of the challenges faced when working to getting a home sold. The rate has dropped from 51.5% in July of 2005 to 8.6% in July of 2006 for Single Family Homes and from 43.6% in July of 2005 to 4.8% in July of 2006 (meaning that less than 10% of the Single Family homes and less than 5% of the Condos on the market sold last month). Having a dedicated Realtor? working full time to get your home in front of any available buyers is imperative!

Once an offer is received, the challenge is to negotiate an offer that is win-win for BOTH the seller and the buyer. Because of the tight market, buyers are more savvy when negotiating a deal and so having an agent on your side can ensure that you get the highest price possible for your home.

Visit realestatemarketingpro.blogspot.com for free real estate marketing tips or see these tips and tricks in action at www.ComeToClearwater.com

Realtors and mortgage bankers/brokers, please feel free to use this article provided this reference is included and all links remain active.

Mind Your Own Business Harjinder Sidhu Pick of the Week

I, Harjinder Sidhu, have chosen this book summary entitled,
Mind Your Own Business. This is all about A Maverick's
Guide to Business, Leadership and Life. Another great book
from Sidney Harman. Doubleday & Company, Inc., 2003; ISBN
0-385-50959-6; 208 page

Now, let's begin our article....


A maverick is an independent person who will not go along
with the other members of a group (Oxford ESL Dictionary).
This book provides priceless stories and insights from a
maverick of the business world; an exemplary business leader
who prefers not to follow orthodox beliefs in business, nor
be eaten by the hyped up ideas of the present. Instead, he
chooses the course of action that is appropriate for the
changing times.




The Maverick's Way: New Old Thing


What is effective? This is the question answered by the
maverick. He reconciles the good things from both the Old
and New times, and focuses on what is really effective in
confronting the challenges of 21st century business dealings.




A maverick thinks outside of the bed, knows that it pays to
be daring, does not allow technology to tyrannize, finds
strength in diversity, maintains balance and harmony among
people, sets leadership by example, has a strong ethical
base, and values employees and customers. A maverick knows
his customers and believes strongly in his products.




To a maverick, a company is a not just a big candy store. It
is a living instrument with living human beings. It should
have a HEART.




Keys to Leadership


The leader leads. He exercises critical judgment, which will
have a great impact on his people.




The leader defines the company. The leader's responsibility
is to explicitly present and advocate the company's purposes
and goals.




The leader inspires. He gives sense and meaning to the job.
He makes his people realize, that beyond profit there is an
underlying meaning, value, and deeper reason for the work
they do.




The leader should be the evangelist. He should be able to
exercise his influence, to sell the values of ethical
conduct.




The leader must see the company as a coherent whole. He
should be aware of the diversity in the company and bring
this together to promote the whole.




The leader must know that there is no better way to create
a family in the workplace than to encourage the family at
home. Harman International introduced the anti-domestic
violence program in the company, which reinforces the idea
that the company cares.




The leader should never underestimate the value of
disciplined hard work.




The leader empowers subordinates to do their jobs. He
should institute programs for the guidance and training
of his people. He should always keep the lines of
communication open.




The leader promotes closure. He should know the right
time to get things done.




The leader knows what he doesn't know. The leader is not
afraid to ask clarifications, if he does not understand a
particular subject.




The leader knows the meaning of two minutes. He should
respect the time of others and that of his own.




The leader teaches.




Above all, the leader develops others. As Lao Tzu advanced:
he leader having accomplished great things, the people
all feel they did it themselves...




The very best leaders go beyond the mere setting of example.
He should be able to cause a leap of imagination and faith
in his people.




The leader recognizes that people are often at their very
best the moment they have been let go. There are times
when an employee doesn't like the work anymore, or he is
unable to appreciate how the whole enterprise works- this
is the time to set him free.




A Company Must Be Profitable


1) A solid financial base is fundamental.




2) Debt should not exceed equity. A debt to equity ratio
of 1 to 1 or better should be the goal, so that a company's
leader and key executives do not spend all their time on
mere survival -paying bills, meeting the payroll, and
keeping the banks happy- but moving forward and meeting
bigger challenges and doing more visionary work.




3) There should be a regular process for annual strategic
planning and budget-planning.




The Fundamentals of Profit and Loss


1) Manage expectations, not the profits. Keep the
shareholders informed, to eliminate doubts of manipulating
numbers.




2) The Chairman and CEO should be financially literate.
They should know what the numbers really mean.




3) Good growth and profitability requires the exercise
of critical judgment. The leader should make certain that
the budget is one the company can live with.




4) In repurchasing the company's own stocks, make sure that
it will add to the company's earnings.




5) Look into the availability of funds so that the balance
sheet will not be compromised.




Make an Edge in the Business World


1) Writing. It is a unique and powerful skill you can use
for clarity and persuasion.




2) Public Speaking and Story-telling. Speak directly, and
without notes, to your audience. Individuals respond to a
well-told story.




3) Thinking. People do not respect sloppy thinking in a
leader. Thoughts should be carefully considered then
expressed directly, crisply, and clearly.




ABOUT THE AUTHOR: Dr. Sidney Harman


Dr. Sidney Harman's brilliance in the audio field can be
heard throughout the world. Whether on New York's Broadway
or in London's Millennium Dome (or nearly anywhere else where
sound quality is required), the same passion and commitment
to music that Dr. Harman has made his life's work is evident.
Tiny body mics on stage actors and miles of fiber optic cable
in the Dome's sound etwork, along with thousands of other
products, all come from Harman International, which grew out
of a small hi-fi company founded in the 1950's by Dr. Harman
and Bernard Kardon. In his role as Chairman, Sidney Harman
still demands that the company continue its unstinting
commitment to excellence.Dr. Harman has written extensively
on productivity, quality of working life and economic policy
in Newsweek magazine, the Washington Post, the Christian
Science Monitor, etc. He is the co-author, with Daniel
Yankelovich, of Starting With The People. He and his work
have been written about in many newspaper and magazine articles and
in a number of widely-read books, which include: Michael Maccoby's The Gamesman, Daniel Zwerling's Democracy at Work, Justin Jerome's Education Out of Anarchy, and Ronald Muller's The Revitalizing of America.

By: Harjinder Sidhu
About the Author

Triple Net Lease: Own A Property? Get The Maximum Out Of It

A triple net lease designates the tenant or lessee as being solely responsible for bearing all the costs related to the asset being leased. The landlord and the tenant come to an agreement where the tenant agrees to pay all taxes, insurance and miscellaneous expenses on the property in addition to any normal fees that are expected under the agreement. The concept of Triple Net Lease has been very popular in commercial building leasing because it reduces the owner's need to worry about spending time and money for monitoring property conditions and providing maintenance.

The basic idea of a net-net-net lease is for the lessee to assume responsibility for all property's expenses, both fixed and operating. The concept is well accepted and employed in all traditional sale-leaseback transactions for long-term lease of larger properties. Both the owner and the lessee agree upon a lease document stipulating that the tenant bears the operating responsibility for the property. In recent years the triple net lease has become increasingly popular for leases of smaller properties. While there are many versions, triple net typically includes Taxes, Insurance, and Maintenance (TIM).

In a triple net lease, the rental component is separately identifiable in the lease, making the actual net investment return clear for property owners and investors. Unfortunately there are several pitfalls for the smaller property owner in regards to leaving the insurance of their building to the tenant. The tenant may willfully damage the property in order to claim insurance while experiencing financial troubles. In such a situation the owner will lose all claim to the insurance and has no fall back to claim losses against the tenant.

Most triple net leases require the lessee or tenant to cover costs to maintain the roofing, heating, etc.- practically anything related to the building that can wear out or be damaged during the lease period. If you are in a triple net lease agreement you will be excused of all property taxes and property insurance liabilities. You will be responsible for paying your utilities directly. You can budget your personnel expenses and costs for routine maintenance and secure a quote for a maintenance contract.

There are a number of important issues to be considered before entering into a triple net lease agreement, including cost of capital, future operating performance and relationship with the building. All parties in a triple net lease arrangement need protection against surprise expenses that can occur as the facility ages and components wear, requiring maintenance and eventual replacement. Some owners reduce their risk by establishing a reserve fund into which each tenant makes regular payments. The owner then covers property maintenance costs as needed from this fund. As tenants come and go, the maintenance fund is constantly replenished?with no surprise burdens for a single tenant or for the owner.

A triple-net lease via a 1031 exchange allows the investor to get even higher returns by deferring his/her taxes and thus increasing the overall internal rate of return. Various companies provide you with a quality selection of triple-net leased properties that are ideal for 1031 like-kind exchange investments. It is believed all interests are best served by regular inspections performed by independent professionals with extensive experience and expertise in evaluating and reporting on building conditions.

Christine is an expert Internet marketing professional with years of experience in various industries such as: Business, Finance, Real Estate, Web-Design and many more.
1031 exchange resources