Archive for Economy

The Challenges Faced By Buyers Of Self Storage Facilities

It looks like storage in Bristol is gaining awareness from consumers particularly with the improving economy. People have more money to splurge into new stuff for their homes and eventually storage will be a problem. While there is the option of storage in the garage it often becomes a problem if the family is planning on buying another car.

In the United States there is so much news about the expansion and development of self-storage facilities. Westport Properties Inc. that is operating 856 storage facilities under the US Storage Centers brand is looking for opportunities to expand its footprints in the top US metropolitan statistical areas. However, is it easy to become a buyer of a self-storage facility these days?

The exuberant market has made it particularly difficult to purchase that a property that will be profitable to operate and the task becomes more challenging if there are many offers for the facility. To succeed in this situation it is important to be listing broker’s best choice. Sellers are more likely to choose a buyer they can negotiate with and to whom they can ultimately sell the property for the right price.

The best way to establish credibility is to have a track record of closed transactions because this will provide the seller the assurance that the sale will be closed if everything about the property proves to be as represented. A seller will usually evaluate an offer based on the following standards:

• Every key deal point must be addressed but not too detailed.

• The length of the requested inspection period and the list of due diligence materials and financial records that will be requested from the seller

• The amount of earnest deposit that will be offered; large deposits can trigger a seller’s interest

• Specificity of the finance contingency

• How long the deal will take to actually close escrow

• References from other lenders, letters of credit, proof of sources of funds or even a commitment letter from a property lender

• Professional representation through an experienced broker

Each of the factors must be addressed to the best of your ability. It is also important to maintain focus on getting the offer accepted by having a contract drafted and signed and escrow opened.

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Chinese Property Investment In US Further Enhance With Latest Program

A data supported by the HomeUnion Investment shows that the Chinese ranks higher than the Canadians when it comes to the top offshore buyers of properties in the U.S. An analysts revealed that the Chinese will continue to rise among the rank of foreign buyers because of the new program that will be released which is led by Beijing. This program will make it possible for rich Chinese citizens to invest more in other countries.

It has been a known fact that there is a yearly limit for Chinese citizens when it comes to exchanging their currency yuan to other foreign currencies. The annual limit which is set at $50,000 has not been a hindrance ever since when it comes to investing big since there are other ways to go around the set rules. With the help of unofficial channels, wealthy Chinese are able to invest in the real estate in other countries such as Australia, Europe and the United States.

There are unofficial methods wherein big amount of money is leaving out of Beijing and into foreign lands. Despite these methods, they are still developing a new method which is going to be released before the year ends. The pilot scheme is referred to as QDII2 or Qualified Domestic Individual Investor. This new scheme will give individuals included in the six cities together with Shanghai to put their money in offshore assets and invests on real estate, bonds and stocks. Meaning, the $50,000 limit which is imposed on a law released in 2007 which limits the amount of yuan that can be exchanged to foreign currencies is not applicable on the new QDII2 scheme.

One of the analysts in China International Capital Corp., a Chinese broker firm, voiced out the opinion that the new scheme will create an increase on the sales of real estate rather than on the stock market. The very reason is that there is already established methods when it comes to buying equities in other countries but Chinese inventors would love to get their hands on more hard assets. When it comes to real estate buying, it has been predicted that Chinese investors will target countries such as Australia and the United States.

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