A commercial short sale is advantageous for the property owner, the real estate investor, and the bank or lender. A real estate investor finds a property with a discounted price and he earns good profit by making the needed repairs and then selling the renovated property at a higher price. The advantage for the lender is that he is able to avoid the costly process of foreclosure and being saddled with a non-performing asset that is difficult to sell particularly during an economic downturn. The owner benefits by avoiding foreclosure and its negative impact on the credit score with the chance to start all over again.The property owner may consider a commercial short sale as one of the alternatives when conducting or having someone else perform a prudent commercial loan review. Oftentimes he may hire a professional who is knowledgeable and experienced in examining a particular situation, to make this review. This entails the thorough analysis of the mortgage documents and then negotiating with the bank for a possible mortgage adjustment. If the lender had tried to take any shortcuts at the time when the loan was provided, these could be used to strengthen the position of the borrower during the negotiations.Meanwhile, the lender will have to approve the transaction, whether it is an adjustment of the loan terms or a commercial short sale. The borrower may choose the latter approach when he has determined that he no longer needs the property or when he no longer wants to pursue that particular business that made use of this particular asset. The selling price during such a transaction is usually lower than the unpaid component of the loan but the bank may approve the deal if the calculations indicate that he will likely lose more by pushing through with a foreclosure.
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Technology – Meaning and Effects on Life
Technology was coined from the Greek word technologia, which refers to a “skill” or an “art”. It simply refers to the utilization and cognition of techniques, tools or methods of organization. It could also mean the in-depth analysis of a concept or the proper knowledge of a field or subject area. The use of the word is relative, and can be applied to as many areas as possible. Mobile technology, car technology, medical technology, space technology and a host of other terms have been coined from the word. This is because the application of the word is limitless in the present world.
The impact of all the different technologies on humans is very significant. Technology started with the transformation of natural resources into elementary hand tools. Fire, for instance, played a great role in the advancement of prehistoric technology. Its discovery and control was the beginning of the many and has escalated to inexplicable heights like the internet today. It is pertinent to note that not all advancements in the field have fostered peace and made life easier. Nuclear weapons and their likes are of course, utterly destructive.All the great economies in the world today depend on technology. It is safe to assume that they would not get this far but for technological advancements. There is also the issue of pollution and the depletion of natural resources as a result of processes that utilize technology. This reduces the quality of the earth and the value of the environment in general. Interestingly, recent studies have discovered that other primates carry out activities that point to an understanding of basic technology.Lots of debates have arisen over the years and they have centered on the impact of technology on the society. Some movements totally condemn the concept with overwhelming evidence and conviction. Different scholars and philosophers read different meanings into it and extend its definition to cover a broad range of usage. This has made science, technology and engineering overlap in their meanings and applications. The history of technology also makes for interesting reading as it dates back to 10,000 BC. It has evolved from the usage of basic tools to the development of all the crucial sectors in the life of man. Medicine, agriculture, manufacturing, transportation, communication and education, to mention a few, have benefited immensely from this mind-boggling concept.The view on technology cannot be uniform. It always differs from scholar to scholar and from individual to individual. Where uniformity lies however, is in the fact that technology has come down a long, winding way, and that it is here to stay.Do you want to read more, visit us at http://www.latest-tech.damisagurus.com