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Buying a property in Morocco follows the French process very closely, which is not surprising, given that Morocco was formerly a French colony and maintains close relations with France to this day.

After you have made an offer on a home and it has been accepted, an initial contract is drawn up. This contract is known as a “Compromis de Vente” and it is customary for a 10% deposit to be paid at this time. This deposit is fully refundable if the Compromis de Vente has the appropriate clauses included when the buyer and seller sign it. It is usual for the contract to include a clause that the purchase is conditional upon arranging a mortgage, so it is essential that you ensure that you have an “escape” clause in the event a mortgage cannot be finalized.

Arranging a mortgage in Morocco is slow and painful, and although a decision in principle may be obtained, the mortgage can only be granted after the contract is signed. Therefore, it is even more essential to ensure you have the “escape” clause included in the Compromis de Vente.

Mortgages are typically offered for 15-year terms. However, you can frequently get this extended to 25 years, although usually with a higher interest rate applied. Interest-only terms for the first six months of the loan are also offered, but not for the whole mortgage term. You are strongly advised to have professional help when arranging a mortgage in Morocco, as the application process is cumbersome and bank staff are not very experienced in handling applications for non-resident applicants.

Once the Compromis de Vente is signed, searches will be conducted and if satisfactory, a notary will sign the completion document. You should budget for approximately 5% of the purchase price to cover the additional costs and fees that will be levied. There will also be a monthly mortgage tax of 10%, which is charged each month over the life of the mortgage.

Appointing a lawyer as the notary is strongly recommended as under Moroccan practice, the notary acts for both the buyer and seller. Therefore, you need to be sure the title deeds and mortgage documentation are properly checked in your own best interest. You also should make certain that the lawyer checks what works are expected to take place in the area, as the bank may not do so and this may adversely affect the property or your ability to sell it in future.

Some developers will provide complete packages for buying Moroccan property. However, you should be aware that although the lawyers and notaries they appoint may provide you with a degree of convenience, you would need to protect your own interests.

Appointing an independent lawyer or expert on Moroccan Mortgages to advise you is strongly recommended, no matter who is acting as the notary, as they will be able to handle the language, local customs and have a good working knowledge of the whole property purchasing experience that will prove invaluable.

When it comes to buying investment real estate, there are many schools of thought on how to get the most out of your money. Some say lease optioning your houses is the best and safest way to go. In fact, I believe this to be true in many cases. For getting the most out of each investment dollar, though, and seeing a quick return, I believe that it is best to find property that you can rehab and resell.

Many people have tried this strategy and failed. Let me tell you why this is. Anyone can make money buying investment real estate, fixing it up and reselling it, as long as he or she understands how to buy and how to sell. This is the key. The people who fail in the rehab strategy of investment real estate fail because they know everything about rehabbing but nothing about buying and selling.

The real money is made by carefully evaluating the entire transaction. This includes looking at what the investment property will bring on the back end, or on the sale. Now, when you find a prospective investment property to buy and rehab, be sure to look at your profit after all of our money is spent.

I would never consider a deal that I couldn’t make at least 40 percent above my purchase price and all I’ve put into it. So, if I pay $40,000, put in $10,000, I want to sell my investment property for at least $60,000. If I can do this in one month, I’m happy, as long as I’m not splitting my profit with too many parties. Even if I have a partner or two, a quick $10,000 in one month is fine, as long as I have another deal going at the same time.

Now, if you want to move your properties quickly, and a month is not a reasonable time, you might consider combining two strategies - buying investment real estate for the purpose of rehabbing and quickly lease optioning the property. From there, you can move on to your next purchase.

Mark Barnes is an investment real estate and real estate finance expert. Get his free mortgage finance course at www.winningthemortgagegame.com. Mark is also the author of the new novel, The League, a shocking, sports-related conspiracy. Learn more about his suspense thriller at www.sportsnovels.com. He is also

Mark Barnes is an investment real estate and real estate finance expert. Get his free mortgage finance course at http://www.winningthemortgagegame.com. Mark is also the author of the new novel, The League, a shocking, sports-related conspiracy. Learn more about his suspense thriller at http://www.sportsnovels.com.

Beautiful Mission Viejo is a very desirable and highly in demand place to live, which makes finding an affordable home hard to do. An affordable home in Mission Viejo is not just a home that you can afford, but also a home that is priced fairly. Here are several steps to take to find that elusive affordable home.

The first step is to meet with a mortgage broker that has a wide variety of loan programs so you can choose the best mortgage loan that meets your short term and long term plans. Most lenders can evaluate your financial status and issue you a pre-qual letter for a mortgage loan within 30 minutes or less.

The second step is to team up with a good local Realtor. One, they can provide you with timely information about new listings of homes for sale from all types of motivated sellers such as: bank repos, pending foreclosures, houses in probate, relocation, fixes, vacant rentals, etc. Two, they can quickly and accurately help you determine if the home for sale is a bargain…. just because the home for sale is in probate, or there is a pending foreclosure does not necessarily mean it a good deal.

Make sure your Realtor utilizes state-of-the-art Internet technologies which will greatly help you in finding affordable homes for sale in Mission Viejo. Have your Realtor set you up with an email alert service, which will email you homes for sale as they are listed in the MLS, only if they meet your criteria. Here is where it gets tricky. If you are looking for the most affordable home in many different cities, then you may need to have your Realtor set you up with several different email alert filters. If your only looking for an affordable home in Mission Viejo, then one or two filtered searches should do.

After several weeks of evaluating Mission Viejo homes for sale that you have received by email, you and your Realtor will then be able to determine a truly affordable home…. one that you can afford and is price at a bargain. At this point, let your Realtor go to work for you and negotiate the best possible price and terms.

Mr. Bindi is a licensed Real Estate Broker in Orange County CA. He’s sold over 700 homes, and has Bachelors and Masters of Science degrees. For more information about home sales in Mission Viejo, visit his website: http://www.Search-OCHomes.com

We all know that there are a lot of mortgage companies out there. But how do you know which company to choose? Some companies have flashy advertisements about low interest rates, but are they really the best company to choose? A mortgage is a very large investment, so the company that you choose has to be the best company out there for you. As a mortgage expert, I can give you a few tips when choosing a mortgage company.

1. Watch out for interest rates. Some companies have higher interest rates than others. Choose the company with the best interest rate for you (usually the lowest, but not always). Be careful of special promotions that have hidden fees. Don’t get sucked in by an extremely low interest rate. Be sure you know everything involved with that interest rate. Be sure to check things out and understand the terms of the interest. If you do this, you will have a much better chance of getting a nice interest rate that you and your family are comfortable with.

2. Be sure to know all of the fees. Some mortgage companies have hidden fees, or they tack on additional costs. Don’t get stuck paying extremely large fees. Once again, companies will try to hide behind low interest rates, but then they will stick you with several large fees. Don’t fall for it!

3. Be mindful of the application and appraisal fees. You want to get the lowest fee possible with the highest quality service. Some mortgage companies charge insane amounts for applications and appraisals. Charging a lot does not necessarily mean that they are worthwhile companies. The best service, for the lowest price is always the best way to go!

4. Finally, and most important of all, is the service. Some companies are not committed to their customers. A Mortgage company that gives you terrible service, but extremely low rates is not the best company out there. Watch out for companies with quite a few different contacts. One on one customer service is the best. You want a mortgage company that cares and is willing to get to know you and your needs. How a mortgage company presents itself to its customers, and how it handles them is a reflection of the kind of company it is. A company that has lousy service, rude representatives, and little customer interaction is not the company for you. A quality company will be attentive to your needs because you are the customer, and you are what is most important.

Choosing a mortgage company may seem like a daunting task. Just remember to keep costs in mind. The most expensive is not always the best, nor is the cheapest always the best. Keep in mind service. Service is the most accurate representation of a company. If you follow these simple tasks I am positive that you will choose the best mortgage company for you and your family.

Bart Fadington writes about Mortgage company topics.

There are number of questions you need to ask your potential mortgage lender before signing at closing. Asking the right questions can make the most seasoned mortgage bankers flinch. The industry today is the most highly competitive market in the history of mortgages. For over a decade now, mortgage lenders have enjoyed their most prosperous business ever. These lenders want to keep the party going, and as a homeowner you stand to gain from their desperation to do so.

With thousands of companies competing for your mortgage dollar, how do you know which one is best for you? Asking the right questions when screening lenders will help save you thousands of dollars on your mortgage. Remember, these lenders need your business more than you need them, so don’t be afraid to ask the tough questions.

Be upfront and ask why you should select this lender for your mortgage. Ask what they are going to do for you to get your business. Most mortgage bankers will give you the same line: best rates, best service, and proven track records. All lenders claim this, and it doesn’t help you choose one. The question you need answered is “What can I get from this lender that no other will give me.” You are looking for a mortgage lender willing to go the extra mile for you as far as terms and conditions, not just interest rates and points. Some mortgage lenders go the extra mile by offering home buyer assistance programs, real estate agent locators, free credit counseling, and homebuyer pre-approval programs.

Another important question you will need answered is the bottom line on fees the lender will be charging. This is done by comparing the APR for each loan. The lender is required by law to disclose this APR for you prior to closing; this is different from the mortgage interest rate because it will factor in all lender fees, and will allow you to equally compare loans.

Compare the lock period on each loan you are considering. This lock guarantees your interest rate as long as you close prior the expiration of the lock period. Barring some unforeseen circumstance that prevents your from closing, you could save yourself a lot of time and frustration by negotiating for a longer lock period. To learn more about negotiating for the best mortgage deal, sign up for our free mortgage guidebook.

Louie Latour has twenty years of experience in the mortgage industry as a mortgage broker. He is the owner of Mortgage Refinance Advisor, a mortgage resource site devoted to mortgage help with a free guidebook “Five Things You Need to Know Before Refinancing a Mortgage.” http://www.refiadvisor.com