Existing and former Local Authority landfill sites will be re- vealed by the search. Landfill is general household waste which is collected and stored in spare land (such as a dis- used quarry) which, when full, is landscaped over. It is sur- prising where these turn up. Landfill will have an impact on the value of the property. The distance from the property of these facilities is given in metres.

Many landfill sites come with waste management facilities. These may be centers that manage the waste into other sites. Again the distance is given in meters.

Waste may be kept in holding areas for permanent landfill later. These are known as Waste Transfer sites and may show up in the environmental search. You need to be aware of site traffic levels.

Alternative landfill sites come with the facility for Waste Treatment and Disposal. These enable the waste to be compressed and disposed of more efficiently.

Many factories, shops and surgeries have emissions to air. Licences are needed for this from the Local Authority. Once the licences are granted, the activity is noted on the register and these show up in the search.

If there are discharges to water this is also a notable activity.

The search is also historical. It is important to know what the surrounding land was used for. While past industrial land use may not affect a residential property, it may have an impact on a commercial use such as a nursery or organic market garden.

Where there is current industrial land use this will be noted on the register.

If there is natural ground instability, the risk level will be measured as low, moderate or high. If high, it may be seen by your surveyor. If it is not, ask specifically about this.

If the environmental search shows up a source protection zone then there is a water source that has to be protected. If your property is close by, it may impact what you can and cannot do on the land.

The likelihood of flooding is assessed by grade within the search. Insurance companies have access to these resources and a high risk flood area may affect insurance premiums.

Radio masts located near the property or close to local schools are of particular importance. Their presence may put some people off buying the property.

Cottage industries may have now disappeared or moved to large scale sites but potentially contaminants may still be present in the land.

If there were potentially contaminated industrial sites on the land, then this WILL have an impact on the price of the property.

Gas, petrol and fuel sites show up in this search.

If any dangerous substance inventory sites are near they will be revealed in the search. This can be storage of chemicals or other hazardous materials, often from hospitals.

Coal Mining Report

Not likely to be required in the city center, although Bristol is a known exception, but useful for rural areas. The local search will tell us if a coal mining search is necessary. However, local knowledge is also relevant.

The coal mining search will fall into a number of categories:

Past Underground Mining: The property is/is not within the zone of likely physical influence on the surface from past underground coal workings.

Present Underground Mining: The property is/is not within the zone of likely physical influence on the surface from any present underground coal workings

Future Underground Mining: The property is/is not within a geographical area for which a licence to extract coal by underground methods is awaiting determination by the

Coal Authority, or the property is not within a geographical area for which a licence to extract coal by underground methods has been granted.

Unfortunately, the Local Search does not generally give details of any matters affecting adjoining properties. If you have any specific query, this can only be dealt with by way of a specific search undertaken on that property itself or, in turn, your own inquiries with the Local Authority.

A new development may be accessed by an unadopted road. In most cases, the Local Authority will eventually adopt a road and maintain it. If the road is not adopted then the houses in the road will have to pay for its maintenance, in proportion to their frontages.

If a path at the rear or the side of the property is not adopted by the Local Authority, it may be maintainable by all who regularly use it. This operates like road adoption, above.

If there is a smoke control order in force for the area, you must only burn smokeless fuel. If the property still has its chimney then smokeless fuel is the only one that can be used.

Many times the search will reveal the existence of an extension. Check if this is the case. Bring in a surveyor and, more to the point, ask your lawyer to request the Building Regulations or certificate of final completion and planning permissions from the seller’s lawyer.

There may be a Tree Preservation Order in force. You must check with the Local Authority before any trees are lopped or felled in case planning permission is required.  These trees cannot be touched and Local Authority permission is required for works on them.

The property may be some distance from pipelines and installations. Check to make sure they do not impinge on your enjoyment of the property.

The search could reveal possible side or rear access or parking restrictions. This cannot be confirmed without a site visit, so always check. What may be on the plans might not be the case in reality. There could be many reasons for this: either inaccurate plans, or because the neighbors have exercised their prescriptive right to use it or that the land has been fenced to become a garden….again, check.

Local searches inform us of what is planned for the area. If schools are nearby or there is a high incidence of accidents in the area, then the Council may introduce traffic calming measures and controlled parking zones.

The search will reveal items that might not be anything to do with the Local Authority—for example, Home Improvement Grants. These are registered against the property, and will continue to be a charge on the property until a specific end date. Alternatively, there might be conditions attached to the Grant.

If the property is in a conservation area then it will be revealed in the search. This is usually an area that has been defined as being of special architectural or historic interest and the Local Authority wishes to maintain its appearance. All planning applications for building within the area will be carefully considered to ensure that they harmonize and reinforce the character of the area.  The demolition or partial demolition of a building within a conservation area requires special consent. If you plan to alter the building at any time, then you will be well advised to contact the Local Authority before purchase to ensure that your proposals are likely to fall within the permitted level of development.

It is vital to know if the property is situated on a principal road. For commercial properties or retail outlets, this will give a clue as to passing trade. Many roads are being widened whilst others are incorporating cycle lanes and routes. If a main road has to be widened and there is sufficient pavement space then this space can be used to increase the width of the road at the expense of pedestrians. Such developments are controlled by the Highways Agency. An application to the Highways Agency, as part of the search will reveal any road widening or other schemes. If the seller knows about it, he must disclose it. As the buyer, you should ask the seller to ‘deduce the title’ which means to verify the existence of such schemes.

Parks and areas of common or green land may be in the vicinity. The local search may not reveal all the necessary information. Either a common lands search may be necessary, or the environmental search may suffice.

This is not the same as a green space but it is worth a mention as the Local Authority deem it necessary to protect it. Your search will reveal a statement such as “The property is located approximately 100m from Green Chain Corridor to the South East.”

A site of archaeological significance is worth noting. It may be troublesome to get permission to extend or renovate.

The local search can also reveal if the property is within an area permitting development of market gardens and nursery grounds. This is an area which the Local Authority wishes to maintain for this purpose. As a result, only buildings serving the market garden and nursery industry can be developed there.

Variations of this scheme can be found all around the world. However, rent-to-own must not be confused with schemes that allow the owner to sell their property then rent it back from the new owner. This is a complicated concept and, I believe, not one for the occasional investor, especially now that such schemes are regulated by the Financial Services Authority (FSA).

A rent-to-own scheme is a contract between the owner who may eventually sell to the renter (that is the idea). The renter lives in the property, paying rent plus an additional premium as a top-up against the future purchase price. The contract between the renter and the owner/seller will specify the future price. The renter gets certainty that they will be the buyer at some point in the future at a price that is fixed to them. The owner/seller has a future buyer for his property, regardless of market conditions.

What are the advantages?

The contract is typically written to complete in 12, 24 or 36 months, giving renters the chance to experience homes and neighborhoods without having to make a major commitment.

The biggest reasons buyers opt for rent-to-own deals are to build up down payments and to improve their credit profiles so making it easier to obtain a mortgage.

In times when property prices are flat or gradually rising, income can be accumulated.

Example

On a £200,000 home, the renter might pay £5,000 up-front and a monthly rental premium of £400 on top of their £1,000 market rent. Money is accumulated and used against the final purchase at a rate of £5,000 plus £400 per month. The rent is not taken into account.

The payments will mount up as follows: Year one £  9,800  is accumulated Year two £14,600  is accumulated Year three £19,400  is accumulated. In practice, most rent-to-own offers are from individual sellers, often people who have purchased a new home, cannot sell their old one and need to offset some of their mortgage costs.

The renter agrees to exercise the purchase option after 12, 24 or 36 months. Under the terms on their contract, if the renter decides to walk away, he or she will lose both the £5,000 deposit and the £400 per month paid over and above normal market rents.

When choosing the right rental property and you might want to jump in and grab the place easily. You can search as much as you want but it is advised that you need to know some important tips before buying rentals properties.

Consider as your obligation when you are planning to purchase a rental property. It is not just as easy as you might think to decide to have a rental property even if you have all means to have it. As a buyer of your future investment or as your personal properties, it is very much important to have knowledge on the legalities and other pros and cons.

Here are some guidelines on buying rental properties:

Legal Obligation. As you buy a rental property you have to commit yourself well in paying your monthly obligations like insurance, taxes, mortgages and some other fees. This will require you to be responsible for the rentals and the place. Always check if they have included electric, gas, oil, water, sewer, and cable these could make you profitable in the future.

Maintenance. It is important to keep a maintained rental property. So that you can make your renters feel the enjoyment to rent the house. It is important to prepare a budget for the maintenance of the place for a cleaning and for some regular repairs. It is true that it is hard to please anybody especially in a business of rental properties. This is one of the thing that a property owner should do.

Gathering Personal Information. It is important to put things proper. Gathering personal information is one way to know your prospect renter. As a renter you can make a Personal information form to let them fill in. This is one of the best ways before making things put into black and white. You need to know some part of their personality.

Do the Background Check. A good back ground checking of the place to where the rental property is located always makes sure that a place is peaceful. Look around the neighbor and do check for a crime rate of the place. Choosing a good place for your rental property is one way to know if it is good for all people who wants to rent in your property.

Look for Simple. Look for simple house building so that when it comes to maintenance and repair you can easily make thing work out as time goes by the rental property owner will decide to change the place view possibly. Look for a rental property that has a parking area. There are lots of renters who prefer to rent a place with a parking area.

Understand Terms, Conditions and Regulations. It is important as a future rental property owner that you really understand the terms of payments, conditions and regulations. Always look for the details about the bed room sizes and of ceilings. Knowing the matters is a way to manage you bills.

Knowing these tips could help you to weigh things out when it comes to investment or personal ownership. There are lots of tips in the web that could give you ideas.

Debt Consolidation Programs

* Credit Counseling

If you are facing bankruptcy or other financial hardships, credit counseling can be an alternative. By enlisting the help of a credit counselor, you can make sense of your finances and make choices that will positively affect your financial situation. A credit counselor will sit down with you and evaluate your accounts, balances, minimum payments and other vital information needed to create a debt management plan (DMP). A credit counselor can often negotiate lower payments for you as well as help you manage intentional repayments. While these services are not free, they can be invaluable in helping you get back on track.

* Debt Settlement

In addition to credit counseling, debt settlement can be a solution to overwhelming debt expenses. Debt settlement is a negotiation conducted with a creditor to determine a lower payment or lower balance. Not only does debt settlement benefit you, but also the creditor. If your only other option is bankruptcy, debt settlement ensures a portion of payment to the creditor. While debt settlement can be negotiated on your own, these services are often provided by a third party debt relief firm.

Personal Loans

In light of looming credit card balances, a personal unsecured loan may be your best option, especially if you do not have any collateral. If you rent or own with poor credit, a personal loan can help you pay off your loans through consolidation. While this can eliminate your multiple debts and offer you a smaller monthly payment, it may come at the cost of a higher interest rate than may be obtained through a secure loan, such as your mortgage.

While a bad credit score or the shadows of financial ruin can put you in a predicament that can make you feel like there is no way out, there is hope and help available. Debt Consolidation programs and personal loans can assist you in finding financial freedom.

1. Debt consolidation calculator: The debt consolidation calculator is the one that is used while you enroll yourself with a debt consolidation company. You may want to know the exact monthly payments that you may have to pay when you enroll yourself in a debt consolidation program. You can easily use the debt consolidation calculator so that you know the exact amount and thereby manage your personal finances accordingly.
2. Credit card payoff calculator: By using this kind of calculator, you’ll be able to calculate the total time that you may take to repay your debt burden and live a debt free life. You just have to enter the interest rates, the monthly payments that you’re making so that you let the calculator give you the exact result of your query. Once you know the time within which you can become debt free, you can easily plan your future ahead of time.
3. Debt settlement calculator: Another calculator that you can use while going through debt settlement is the debt settlement calculator. You just have to enter the settled amount, the interest rates and the monthly payments that you’re making so that you may be able to know the time within which you can repay debts with the present payments that you’re making. You may use this even when you want to know the percentage of debt that has been waived off by your creditor.
4. Debt-to-income ratio calculator: When you take out a home mortgage loan or an auto loan, the first thing that the lenders check is your debt to income ratio. You can check out your debt to income ratio through this calculator as it is easy to know this ratio beforehand so that you can easily work on it in future.

Download the debt calculators from authentic websites so that you can believe in the results given. Take firm decisions based on the results and repay debt as soon as possible.

Tips to Purchasing a Rental Property:

1. Research the Real Estate Business – This doesn’t mean you need to obtain a broker’s license or becoming a real estate agent – leave that to the professionals. Researching the real estate business means being prepared in the areas of financing, real estate law, and evaluating a property’s worth. Extensive knowledge of those three basics will easily prepare you for real estate investing
2. Find a Strong Market – Owning rental properties can be very profitable, but one factor that will kill a property’s profitability is constant vacancies. When buying the first rental you need to ensure the real estate market is a healthy one. Signs of a healthy market are new homes being built, plenty of jobs, and nice kept lawns and exteriors of the homes in the neighborhood. If there are plenty of well-paying jobs in the area than one can be sure that they will have no problem renting their properties.
3. Get the property at a Good Price – This sounds like basic knowledge and it is, but it is often overlooked. Make sure to get the property for a good price. Overpaying on a property can instantly make the property unprofitable. If one reads the book mentioned in the a.) tip above, this will not be a problem; guaranteed. When purchasing a property, it is not the price alone, but rather the price that the buyer can buy the property at and still make money that matters. A net income sheet for is a great tool for evaluating a property’s worth to the individual buyer. 
4. Find a Money Tree – If one has plenty of money, this is easy. They can go to their local bank, put 20% down and get on with their lives. But if one doesn’t have an entire down payment of 20% setting around, then they need to find and develop a relationship with a lender. The easiest way to do this isn’t searching the internet for lenders; rather it is by speaking with real estate agents. They deal with many real estate investors and often have great relationships with mortgage brokers; the people who can find a lender that doesn’t require anywhere close to 20% down on a loan. Interest rates will be higher, but one can get into real estate with little up front money if they find a good mortgage broker.
5. Overcoming Fear – This tip is the simplest to explain, but hardest to do. Everyone that has entered the rental property market was most likely scared when they began; afraid that their properties wouldn’t make money, afraid of dealing with bad tenants, afraid of the headaches of managing properties, and so on. All of the fears you may be having are legitimate, but ones which can easily be overcome by preparing yourself to purchase your first property. Once you get more experience, much like everything else in life, you will become more and more comfortable with purchasing rental properties.

Entering the rental property business as an investor is a great way to build passive income, prepare for retirement, and get many benefits, such as, tax breaks, an immaculate credit rating, respect within the community, and priceless business experience.

Most people may not realize this, but you do not need a single dollar to buy your first rental property! Rental properties offer a number of different ways to accumulate wealth. One of the first keys to being successful at buying a rental property is to purchase a property and rent it out for more than it costs you to own it. You gain with the appreciation the property realizes, the equity that increases as the mortgage is paid off for you, and with positive monthly cash flow. By purchasing just one rental property you have started the domino effect in acquiring many more just like it. Once you own one property, you can use it to acquire your next, and so on.

Second, rental properties open the door to an abundance of tax strategies. Through potential tax deductions and tax credits, an investor who is used to paying a large amount to the federal government each year, can instead keep more of his income and in turn use it to expedite his path toward financial freedom.

Finally, the knowledge and income you will gain through investing in residential rentals will better prepare you for all other areas of real estate investing. You will learn how to establish a large cash bank that can put you in the ball game with the investors that frequent the foreclosure auctions. You will learn that “Cash is King,” and if you do not have any, this is the best way to get some.

Why are rental properties worth investing in?

Rental properties are a great investment for many reasons:

• Rental properties give you a positive monthly cash flow.
• Rental properties pay for themselves over time.
• Rental properties will increase in value.
• Rental properties can save you thousands in taxes.
• Rental properties have the potential multiply!

An example of a Rental Property Scenario:

While waiting tables, Ben purchased 12 houses over a period of three years. He purchased each property for $100,000 using a 30-year mortgage and no cash out of his pocket. His annual mortgage payments for his properties totaled $86,400. After all expenses, these properties cash flowed $30,000 per year. He also took out a $20,000 equity line of credit on each property totaling $240,000. He used these funds as a down payment along with a 30-year mortgage costing $300,000 annually to purchase a large four-million-dollar apartment complex. After all expenses, the complex cash flowed $100,000 annually.

Needless to say, with a passive income of $130,000 per year, Ben stopped waiting tables. He also stopped buying more real estate. In 30 years, when all his mortgages are paid Ben’s cash flow will increase to $516,000 per year, and this is assuming Ben’s rents never increase and his properties realize zero appreciation. In a more realistic world, his rents will have increased by an average annual rate of between three and ten percent and his properties will have appreciated at about the same rate. Imagine what the power of time and compounding will do for Ben’s portfolio!

How Can I Get Help With Searching for a Rental Property to Purchase?

There are still the more traditional methods open to rental house hunters which will include the local papers or visiting the letting agents offices directly. These are still valuable methods but can be time consuming or impossible depending on your situation. To visit the local letting agents may take a whole day or even worse a whole weekend, depending on where you are
living and where you are moving too, plus there are no guarantees that you will find what you are looking for. If you set out a weekend to look for a property it could be likely that a knee jerk reaction could happen if you become desperate to find a property during the time you are there.

One of the most important things to remember is that you need to take your time, don’t leave your hunt to the last minute, this could result in you having to accept a property that is not ideal for your requirements. It is important to remember the more time you leave for your search the more selective you can be when choosing your rental property.

How do Property Directories Help Me?

In the past directory sites which advertised property were often found to be frustrating to use, you may have found the house you would like to take a look at, make contact with the agents only for them to announce that the property had already gone and the site was out dated. The directories have now become much more sophisticated and are as up to date as the agents own websites. Taking feeds automatically from the agents own databases on a daily basis often the property found is current.

Available Information:

The information on directory sites is reliable and will provide full property details, location maps, landlord requirements and even you will even be able to download the property details so you can review your top selections in your own time offline. The rental market has always been a step behind the sales market when it comes to particulars and advertising documents, this now is not the case and you will find that rental property online is documented as well as sales. The good sites will also provide agent profile pages which outline their services and also give you a link through to their company website so you can check for further information.

Review the Information:

Be Prepared! Take your time and research and go over the facts about the property you are interested in. Don’t go into this blind; be prepared as you would if you were buying a house, a bad decision at the beginning of the process could mean end up with a bad piece of property and may cost you a lot of money. The more prepared you are, the more success you will have in purchasing rental properties.

Although this strategy is not bad for the long term investor, it will not enable him to realize the type of return which is available when investing in certain profit rich areas where real estate markets are flourishing. The cyclic nature of the economic cycle presents a danger the market will be on a down swing when you are looking to unload your investment and the years taken to reach your goal might tie up your investment capital so that other opportunities are missed.

One of the keys to purchasing rental properties is to know exactly what you are looking to achieve from each property you purchase. Are you looking to use it as a vacation home? To rent to students? To hold onto for a long period of time? One of the growing markets and best ways to make money in rental properties is to purchase a property that can be used as a vacation home. When people go on vacation for an extended period of time – they are not looking to stay in a hotel any longer, and wish to have all of the comforts or their own home readily available to them and are willing to pay good prices. A great benefit to using your rental property as a vacation home, is that you can rent it out frequently throughout the same year, which will help you make money quickly.

What to look for when purchasing a rental property for a vacation home:

• Make sure the investment homes are within twenty minutes to the attractions (for example, the most popular vacation homes in Orlando are close to theme parks.)
• Some vacationers will expect a screened and heated swimming pool.
• Look for a home that is easy to maintain. Ceramic tile is easy to clean and maintain, has a classy appearance and will survive wear and tear better than carpet.
• The more privacy the yard provides, the better. People like to sunbathe on their vacations.
• Water views and conservation area are always a plus.
• Larger homes of four to five bedrooms are designed to accommodate more than one family. Having a fully functional kitchen is important, as these customers will be looking to save money on daily maid service or eating out at restaurants and will want to choice of cooking in their home.

Monthly expenses for rental properties will usually include the following costs:

• Property maintenance company
• Pool maintenance
• Lawn care and maintenance
• Pest control
• Electricity service
• Water service
• Trash pickup
• Cable television service
• Phone service -including long distance features
• Internet service

Additional costs may include the following items:

• Property taxes
• Insurance
• Advertising and marketing fees
• Cleaning fees to be applied at the end of a rental period