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Most real estate purchases are bought with loans so getting a good faith estimate and pre-approval letter from your lender helps the process start off on the right foot. The good faith estimate, or GFE for short, is required by law to be provided by lenders when you are seeking a loan. It lists out the estimated closing costs, monthly payments, and interest rates for the loan program you are looking at getting. The pre-approval letter is provided by lenders once they have run your credit and get your income / debt information. By getting the GFE and pre-approval letter, you can be confident that the loan will get processed with no surprises. There are also additional benefits to getting pre-approval and GFE before you even begin the property search. For one, by discussing your debt to income ratio with your lender and obtaining the GFE, you can determine your maximum price. It helps to know the maximum sales price when shopping around so that you do not waste time and energy looking a over-priced properties, and also vice verse, you do not waste time and energy looking at under-priced properties. You can find an area in your price range that fits your needs and narrow down your search. You also will determine your monthly payments with the GFE. The monthly payments should include the property taxes, insurance, principle, and interest plus any private mortgage insurance (PMI). If the monthly payments are higher than you wanted, then you can adjust your sales price to be lower. Another reason to get your pre-approval and GFE before starting your home search is that you may find out some issues with your credit or financial situation that you could clean up before moving forward with a purchase. For example, the first time I bought a house, I found out that I had a $50 charge on my credit report from 3 years ago, which brought my credit score down. And with a lower credit score, I would have gotten a worse interest rate on the loan. I say ‘would have’ because I was able to pay off this collection and clear up the ding on my credit before going into the loan underwriting process. Finally, by getting a pre-approval letter, you have proof for a seller that a lender has confidence in being able to fund the purchase on your behalf. This helps with presenting offers and negotiating. Many sellers will not even accept an offer unless it is accompanied by a lender’s letter. Furthermore, if you do not have a letter, the seller may counter higher given that he feels he is taking on more risk that you may not be qualified for the loan amount. Also, if you happen to get into a multiple offer situation, your offer will be much stronger with a pre-approval letter.

With the Dubai property market recording high levels of growth and returns, also given Dubai’s reputation to stand out from the crowd, there isn’t a better time for these two features to be combined, this is exactly what Dubai’s hottest new portal propertyportal.ae aims to accomplish. This new and exciting project www.propertyportal.ae, offers a different kind of service to realtors, private sellers and potential investors in Dubai real estate and best of all, it’s free.

With so many Real Estate websites pertaining to the UAE that offer the same standard service to visitors, propertyportal.ae features listings of all the leading freehold developments in Dubai in an easy to use format, as well as a travel hub to book flights and hotels to the Country. All the information you need about buying and selling property, as well as life in Dubai is on hand in a one-stop-shop.

Mark Wallington, Managing Director for propertyportal.ae said he is certain that the Dubai Real Estate market needs a new angle and is confident that this new portal can create a niche for itself. “There are currently a large number of generic real estate websites available in the UAE and specifically Dubai. We are aware of this fact, and therefore set out to create a portal that takes the positive aspects of what’s available in the Dubai property market and go one step better. There are many factors to consider when designing a portal to promote your business or product. Not least of these is having a user friendly website where your customers can find the information they need or view your properties with ease, no useless animated intro’s or lack of information, we keep things as simple as we can so that our users can quickly and easily access the information on properties that interest them.”

Wallington also said that they have received a good response to the website already. “During our ‘soft’ launch we had over 300 property agent’s sign up and over 700 properties listed. This brilliant response goes to show that the Dubai Real Estate market is looking for a different class of property website to get their properties in the “shop window” he said. “Leading developments like the Burj Dubai and the Palm Jumeirah are really creating attention for the City as a business and tourism destination. Dubai has previously been recognised for being home to the world’s richest horse race, the Dubai shopping festival and the Rugby Sevens, but now it is property that attracts overseas interest the most.”

An important aspect of the properyportal.ae is that both real estate agents and private sellers can place their property listings onto the website free of charge. The website is updated frequently and the best properties available on the market are regularly featured in the ‘Hot Properties’ section of the portal. Visitors are encouraged to get in contact with the company or agents who list them and can expect a swift response to any further enquiries they may have.

Laura Bentley, a marketing executive for the portal went on to say: “The website has been designed to help investors, sellers and buyers unite to check the latest properties on the market as easily as possible. The key feature of this site is to allow agents and private owners to list their properties at no cost but to get the best possible exposure.”

As the completion of more and more projects approaches, propertyportal.ae might just provide a solution to the difficulties that buyers and sellers in Dubai face from the many websites that just don’t offer an entire range of property services in this expanding sector

Choosing to buy commercial property is a big decision. You require a high level of investment and have to ensure that you don’t make a costly mistake. A number of websites provide commercial real estate listings of properties for sale. These lists are regularly updated. One can search these lists to gain a general idea of the quality of the properties that are available within a given budget. The prices of commercial real estate typically vary according to their location, size, and quality of construction. If you are planning to invest in commercial real estate, you should look at these lists these lists. Looking at these lists requires a great degree of skill, as it is important to read between the lines to uncover the true value of a listing.

Find out how many Commercial Property Listings there are in your local area

Your first step should be to find out what the best locations to buy commercial properties are. Often you will find that certain areas will have a high density of commercial real estate for sale, be wary of such pockets lest you find yourself buying a ticket aboard a sinking ship. Although it may cost you more money at times, make it your mission to find an area where companies such as your own have a proven track record of doing well.

Once you find an appropriate property from a commercial real estate listing, perform a thorough inspection before you buy Commercial Real Estate. While you may feel that a thorough inspection is not necessary as you are not going to be living there, this could not be further from the truth, as this is a business premises inspection it is just as prudent to thoroughly examine as a residential property.

Are you Buying Commercial Property in a Rural or Urban Setting?

When you look at a commercial real estate listing, the type of development where you are purchasing commercial real estate is very important, for instance if you are in a rural setting then you will be looking for very different features than if you were looking for a ware house for sale in an urban setting. Another thing to consider if you are in a rural setting is the cost, you can expect to pay lot less to be in a less developed area but if you are in a more developed district, especially a retail shop for sale or lease inside the city center you can expect to pay a premium.

Will you be buying this Commercial Property to rent out?

It is also important to consider whether you are buying commercial property for your company to actually move into, or whether you are going to rent it out to someone else. If your goal is to own the commercial property to let, then don’t get hung up on want you would like to see when buying commercial real estate, rather find out what the widest possible market is looking for in a commercial property for lease and acquire something that fits that description.

What are the tenant’s assets and liabilities?

It is a good idea to obtain a financial statement from the potential tenant that is occupying the space that you buy. The financial statement will list the tenant’s assets and liabilities. This will give you a good idea of how financially stable the tenant is. Would you like a tenant with $0 cash in the bank, a negative net worth, and credit problems? The answer is of course, no. Once again it’s surprising how many commercial investment property owners don’t do this and find out after the fact that it’s something they shouldn’t have done in the first thing. Now, this is all pretty easy as long as you do a good job of checking out the tenant in the first place.

While on the face of it a commercial property listing may appear straightforward, it is important to dig deeper and find out more before signing on the dotted line. Don’t be afraid to ask the right questions. Only when you are absolutely sure that all your questions have been answered to your satisfaction, you should proceed with the purchase.