A Brief Look at Estate Liquidations

An estate liquidation is a lot like an estate sale for the reason that the main point is to liquidate the property by means of a property sale company. Usually this will involve everything on the property such as belongings in safe, household heirlooms too precious to be kept in the home, property, vehicles, boats, RVs, livestock, and anything else that the estate company might cover.

Although it is essential in the majority of states that a real estate professional must be there to create the paperwork for the purchase of real property, most other merchandise do not need any other kind of permit apart from the local ones necessary to run a business in your particular state in which the liquidation is happening.

In many cases, the family will have an attorney in order to supervise the procedure for liquidation and to keep the program straight on legal issues of stocks and bonds being exchanged, assets liquidated and any real property changing hands under legal standing.

Estate liquidations take place mainly like estate sales, with all the liquidators preparing the property and items to be sold for a community sale. The majority of liquidators charge a percentage of the net income from the sale.

Estate Liquidation vs. Estate Sale

The primary distinction between estate liquidation and a sale is that the liquidation can involve collections, bonds, art, stocks, and real property. Normally estate liquidation is followed by real estate agents, lawyers, CPAs, and appraisers, while a property sale can be carried out by any person with an understanding of the value of household products and collectors’ items involved.

Property is categorized into two basic types: personal property and real property. Each may be sold or liquidated. Estate, on the whole, is often regarded as an asset, in that it can be liquidated for money. In most cases, property is liquidated in order to provide a way to obtain money to purchase other property; for other people it can be liquidated in the bankruptcy process.

Relative Liquidity

Just about all possessions, which includes land, property, jewels, metals, bonds, and stocks, may be seen as relative liquidity. Although such things are not regarded as property per se, money that can be made from it is considered the liquid asset.

Cash is accepted currency, and you need to use it to buy everything, which makes it totally liquid. Property, like a house, isn’t actually liquid; however it may be used as a currency by means of its liquidation, sale, or trade for related properties.

Why Does a Property Become Liquidated?

The reason why an estate could be liquidated or sold can vary. As an example, you could possibly liquidate a holiday residence in order to create money to cover your child’s education.

Estate liquidation also often takes place due to bankruptcy. A bankruptcy professional may buy your home liquidated in order to pay off your collectors. Within the law, estate liquidation practically always describes the means of selling off a bankrupt debtor’s home to meet the debtor’s needs.

What Occurs When the Bank is Involved

In its simplest form, estate liquidation is a sale of the property or home. In a bankruptcy, for example, you would list all of your property to a specialist to look it over and makes a decision as to what needs to be marketed in order to pay off creditors.

Based on the debt of the estate that is bankrupted, the specialist might decide to not liquidate any parts of it.

Whenever your estate is liquidated in bankruptcy, you get any of the profits remaining after paying back lenders.

Breaking Into the Real Estate Industry: Real Estate Careers for You

The housing industry plays an important role in the quality of our lives. The industry weaves the tapestry of our lifestyles and maps the blueprint of our cities. Thus, it only makes sense to populate the industry with smart, aggressive and creative people who are concerned and responsible not just because their contracts require them so but because they are of service to the general public as well.

The market industry is not just composed of real estate agents who you think do no more than bug you with untimely phone calls or hand you leaflets. The problem lies in the fact that people are misinformed about the profession and the whole industry in general. Unbeknownst to them, there’s more to the industry than making a sales pitch. In fact, the real estate industry provides a wide range of opportunities for all sorts of individuals.

Thinking of getting into the housing market? Here are some careers to choose from after completing your online real estate courses:

1. Salesperson/Broker

Forbes.com has recently ranked the job of a real estate agent as the number one happiest job in America. Scoring 4.19 percent on CareerBliss’s rankings, survey participants deemed the job as very rewarding due to the amount of control they had over their work, flexibility and everyday tasks.

Being an agent largely involves helping people buy and sell homes. Agents or brokers are adept in carrying out the process of purchasing and selling properties, loan documentation and the policies governing the processes, saving clients their precious time and money. Through training and education, agents become knowledgeable on RE laws, fair housing law and contracts as well as various financing options available to consumers.

Different types of brokers exist in the field:

  1. Commercial Brokers
    Commercial brokers specialize in finding a market for revenue-generating properties like apartments and spaces found in malls, shopping centers, office buildings and warehouses. To qualify as a commercial broker should have a keen understanding of the investment value of properties in terms of location, taxes, and market activities.
  2. Industrial or Office Brokers
    Industrial and office brokers are in charge of developing, selling or renting out properties for office headquarters and manufacturing. Industrial or office brokers should be keen of zoning laws, tax regulations, and even property management to be able to relate valuable information on the property they’re marketing to buyers.
  3. Land Brokers
    Land brokers specialize in brokering land deals for farm, residential, commercial and industrial lots. This kind of broker has a knack for looking for lands that have a potential to be developed or to generate revenues. Land brokers have to be knowledgeable about agriculture and local market economics as well to be able to successful in closing land deals.

2. Land Developer

Land developers are very important in the said industry since without them, there’s no money to be made on real estate. They conceptualize the blueprint for projects and offer a keen insight on whether a property (residential, commercial or industrial) is worthy of being developed for profit or not. Basically, they conduct site selection and cost analysis. Land developers also coordinate with construction companies and oversee the property construction. Sometimes, land developers are also involved in financing the project.

3. Office Manager

The job of a real estate office manager involves meeting with prospective clients, managing a realty or real estate business, marketing, financial management and brokerage. They are also involved in hiring real estate agents to work for a firm. Real estate managers can be self-employed or work full-time for a real estate firm.

4. Property Manager

A property manager plays an important role in-well, you guessed it right-managing and maintaining the structural integrity and usefulness of a property-whether residential (e.g. apartments, houses and condominiums); commercial (e.g. shopping centers, retail stores, offices) or industrial (e.g. factories, manufacturing plants). Their end goal is to ensure a positive cash flow for property investors and make sure they’re making most of their investments. Often times, property managers are on-call 24/7 to attend to emergencies and problems arising from the properties they handle.

5. Appraiser

Appraisers essentially evaluate property values. Their job involves assessing the profitability of properties as well as tax values, rental, insurance and accounting values. Someone who is good with numbers, has a keen knowledge of accounting and economics principles, real estate education and insight of local housing market activities are a good fit for this type of work.

6. Mortgage Specialist

Mortgage specialists help potential owners choose the right kind of loan for them. They also help businesses collect loans they’ve provided to customers. They can work for a firm or independently.

7. Copywriter/Technical Writer/Researcher

Researchers are usually part of the business development department of a real estate firm. They are either technical writers or journalists who have ventured into real estate. Brokers, developers and other types of real estate professionals depend on the data provided by researchers.

Researchers create two types of report on a prospective property: physical, which concerns the building makeup and structures; and economic, which provides forecasts or insight on industry trends, market behavior and financing.

Technical writers are involved in documenting project developments. They have to be adept with construction and planning terminology and concepts.

Copywriters are employed usually by the corporate communications department or business development department of a real estate company.

8. Urban Planner

An urban planner is someone who plans urban development with civic groups, nonprofits and state agencies to improve on the lives of the general public. They design new pathways, buildings and transportation terminals to ease the lives of the city’s inhabitants and to increase tourist receipts in the area.

9. RE Counselor

An RE counselor is not necessarily considered as a career but it is a specialty as well. Counselors are involved mostly in research and analysis and creating economic, fiscal and feasibility studies, but they also perform brokerage, management and appraisal duties. Consultants come in handy for foreigners who wish to invest locally.

10. Real Estate Educator

Real estate educators are crucial in producing the nation’s top real estate agents. They are cogs in the seemingly vast system of the housing industry, keeping it running. Without educators, the industry will be lost, don’t you think?

Like other realtor professionals, educators have would need a real estate license as well. Generally, educators are required to meet the following requirements:

  1. Hold a bachelor’s degree from an accredited educational provider
  2. Must be licensed as a real estate broker
  3. Have been licensed as a broker and practicing for three consecutive years
  4. Was able to meet the credit hour requirement for real estate education

Educators find work in career training providers, institutions and colleges. Seasoned ones can land a job as a subject-matter expert or even author a book on practice.

The Importance of Getting an Education in Real Estate Investing

With the current economic woes still playing a key part in the condition of the real estate industry, a lot of people who are looking to invest need education in real estate investing. The industry can be potentially very profitable to an investor, but the importance of learning about how to successfully invest in properties can certainly save and gain lots of money for investors. There are several ways to go about gaining the education needed, including courses, seminars, lectures, and personal tips from experienced investors.

Several online schools and mentoring services exist to help people get a better education in real estate investing, allowing them the opportunity to gain an understanding of all the risks and rewards it brings. Professionals all over the Internet are offering to give hopeful and aspiring investors the best advice possible in investing and trading to make money. Much of the education in property investing stresses the need to stay ahead of the curve, as it is like all other businesses in that competition can be fierce and falling behind can be very costly.

Those who are interested in getting into the business of property investing can benefit from educating themselves in the business, whether informally or formally. Education will hone their ability to assess risks and minimize their losses. With education and knowledge, they can quickly identify opportunities and act appropriately when those opportunities arise.

Any aspiring property investor stands to benefit a great deal from becoming familiar with terminology, as well as reading as much as he or she can on property investing. Simply put, education will help any investor sound and look professional. After all, would you trust an investor who does not seem to know what he or she is talking about or does not even look professional?

It is also important for any investor to have the aptitude to learn and use new technology related to the business. Technology and software are invaluable tools in helping any investor to make up-to-date and informed buying and selling decisions.

Several different strategies exist for maximizing the returns from investing in real estate, and the more you learn the better chance you have of returning a profit. Nearly all education methods will stress that having as much information as you can possibly handle about the real estate market will make it much easier to target which investments are the most well founded.