January, 2011

Realty — No Comments
26
Jan 11

Bank Of Baroda Recruitment 2010 For Clerks Exam

BANK OF Baroda  with a network of more than 3050 branches in India enjoys the unique distinction of overseas presence in 25 countries.

Under the Bank Recruitment Project, Bank of Baroda is recruiting more 2000 Clerical Staff for its branches. Details of the Bank Examination is given below. Read carefully to get you dream Bank Job.

Clerical cadre

Emoluments: Basic pay in time scale of Rs 4410-13210 plus DA, HRA, CCA etc as per Bipartite settlement amended from time to time (pay scales are due for upward revision)

Age (as on 01.01.2010): Minimum age 18 years maximum age 28 years (relaxation of age for reserved candidates as per government guidelines)

Educational qualifications (as on 01.01.2010): A 10+ 2/Intermediate/HSC pass with 55% marks (50% for SC/ST/PWD and Ex-servicemen) or degree in any discipline from a recognized university or equivalent qualification recognized by central government

Probation period: Minimum period of 6 months. Before the probation period comes to an end, the performance of the newly recruited clerical staff will be evaluated and the probation period of those staff whose performance fails to meet Bank’s expectation, may be extended

Candidates are advised to apply only online after carefully going through the following details:

Candidates are advised to apply only online after carefully going through the following details.

Eligibility criteria

Educational qualifications: A Pass with 55% marks (50% for SC/ST/PWD/Ex-servicemen) in HSC of 10+2 (10+2+3) pattern/11th standard of (11+1+3) pattern or Intermediate/Pre-university or any equivalent examination/Diploma in banking recognized by central/state govt or UT admn or degree in any discipline from a recognized university or any equivalent qualification recognized by central government

For Ex-servicemen (who do not possess the above) a pass in service (departmental) examination which is recognized as equivalent to civil examination not below the rank of Higher secondary school examination

All educational qualifications should be from recognized university/central/state/UT administration. Should be able to write and speak English fluently. Knowledge of local/ state language for which he desires to apply, will be an added qualification.

Computer literacy should be computer literate with proficiency in MS-office, Basic applications, internet usage etc.

Age (as on 01.01.2010): Minimum 18 years, maximum 28 years

Relaxable in case of SC/ST/OBC/PWD/Ex-servicemen as per govt guidelines

How to apply for Bank of Baroda Clerical Exam 2010

(i) Candidates are required to apply on-line through website http://www.bankofbaroda.com. No other means/ mode of application will be accepted (ii) Candidates are required to have a valid personal e-mail ID. It should be kept active during the currency of this recruitment project. Bank may send call letters for written test, interview etc. through the registered e-mail ID. Under no circumstances, he/she should share/ mention e-mail ID to/of any other person (iii) In case a candidate does not have a valid personal e-mail ID, he/she should create his/her new e-mail ID before applying on-line (iv) Applicants are first required to go to the Bank’s website http://www.bankofbaroda.com and click on the Home page open the link recruitment (v) Thereafter, open the recruitment notification entitled recruitment of 2000 clerical staff project 2010 (vi) Take a print of the entire recruitment notification, including the fees payment challan (vii) Fill in the fee payment challan in a clear and legible handwriting in block letters (viii) Go to the nearest Bank of Baroda branch with the fee payment challan and pay, in cash, the appropriate application fee in account no 29040200000170 with Bandra Kurla complex branch in favour ofrecruitment of 2000 clerical staff project 2010.

The amount of fee to be paid is indicated below (amount of fees/postage (non-refundable)

SC/ST/PwD – Rs 50/-; General/OBC/Ex-servicemen Rs 200/-

(ix) Obtain the applicant’s counterfoil copy of the application fee payment challan duly receipted by the Bank with (a) branch name and code number (b) Journal/scroll number/ transaction ID (c) date of deposit and amountfilled by the branch official (x) Candidates are now ready to apply on-line by re-visiting the recruitment page of the bank’s website and going to the sub link titled on line application for recruitment of 2000 clerical staff project 2010.Click on this sub link will open up the appropriate on-line application format (xi) Carefully fill in the necessary details from the fee payment challan in the on-line application form at the appropriate places (xii) Original counterfoil of the fee payment challan will have to be submitted with the call letter at the time of written test. Without counterfoil of the fee payment challan the candidate will not be allowed to appear in the written test. Candidates are therefore advised to keep-3-photocopies of the fee payment challan for future use. (xii) the name of the candidate of his/her father/ husband etc should be spelt correctly in the application as it appears in the certificates/ mark sheets. Any change/ alteration found may disqualify the candidature

Details of Bank of Baroda Clerical Vacancies in 2010

The State wise vacancy position together with reservation are tentatively as under, which is subject to change depending on administrative exigency

Andhra Pradesh – 60; Arunachal Pradesh – 01; Assam 20; Bihar 65; Chattisgarh 20; Delhi 170; Goa 15; Gujarat 360; Haryana 45; Himachal Pradesh 10; Jammu and Kashmir 03; Jharkhand 30; Karnataka 40; Kerala 40; Madhya Pradesh 50; Maharashtra 400; Meghalaya 02; Mizoram 02; Orissa 20; Punjab 30; Rajasthan 130; Tamilnadu 110; Tripura 02; Uttar Pradesh 260; Uttrakhand 15; West Bengal 100; Total – 2000

Bank of Baroda Clerical Recruitment – Bank Exam 2010 Important dates

Payment of fees at Bank of Baroda branches: 17.03.2010 to 17.04.2010

Website link open: 17.03.2010 to 17.04.2010

Date of written test: 06.06.2010

Fees deposited after the last date i.e. 17.04.2010 will not be

entertained by the Bank Exam authorities

The Bank will not be responsible for loss of application in transit or for rejection of application because of non-receipt of application on or before the stipulated last date

General information

Nationality/citizenship: A candidate must be either (i) a citizen of India or (ii) a subject of Nepal or (iii) subject of Bhutan or (iv) a Tibetan refugee who came over to India before 1st January, 1962 with the intention of permanently settling in India or (v) a person of Indian origin who has migrated from Pakistan, Burma, Sri Lanka, East African countries of Kenya, Uganda, the United Republic of Tanzania (formerly Tanganyika and Zanzibar), Zambia, Malawi, Zaire, Ethiopia and Vietnam with the intention of permanently settling in India. Provided that a candidate belonging to categories (ii), (iii), (iv) and (v) above shall be a person in whose favour a certificate of eligibility has been issued by the govt of India. A candidate in whose case a certificate of eligibility is necessary may be admitted to the examination/ interview conducted by the Bank but on final selection the offer of appointment may be given only after the govt of India has issued the necessary eligibility certificate to him/her.

Selection procedure: Selection will be on the basis of performance in written test and interview. Details of written test and Interview are as under

Written test: All eligible candidates will be called for a written test which will be of objective type. The objective test consists of (i) Reasoning ability (ii) Numerical ability (iii) Clerical Aptitude (iv) English (v) Socio-Economic, Banking Awareness and Computer Awareness. There will be negative marks for the wrong answers in the objective test. Candidates will have to pass in each of the objective test. Candidates shall have the option to answer the tests paper either in English or Hindi. Depending upon the number of vacancies, only those candidates who rank sufficiently high in the written test will be called for Interview, if necessary. Final selection will be on the basis of the ranking accorded after adding the marks obtained in the written test and Interview. Other detailed information regarding the written examination will be given in the acquaint yourself booklet which will be made available to the candidate along with the call-letter.

The Bank reserves the right, if required to hold a second stage of written test on the basis of order of merit in the written examination of first stage, as referred above. If the second stage of written test is held, the subsequent process of interview and further process would be on the basis of order of merit of the second stage examination.

The written test is tentatively fixed on 06.06.2010 at the following centres indicated here below. The Bank reserves the right to alter this date and/ or centre under unforeseen circumstances, if any

Ahmedabad, Surat, Bangalore, Bhopal, Bhubaneshwar, Chandigarh, Chennai, Coimbatore, Delhi, Ernakulam, Guwahati, Hyderabad, Ajmer, Jaipur, Udaipur, Kolkata, Lucknow, Barielly, Varanasi, Allahabad, Mumbai, Pune, Raipur, Patna, Jamshedpur

The Bank may depending upon number of applications decide to add or delete any of the centres for written test

Interview: Those short listed candidates in the order of ranking in the written test as per the cut-off marks determined by the Bank shall be called for interview and the decision of the Bank in this regard shall be final

Pre-examination training:For SC/ST/PWD/Minority community candidates only) It is proposed to impart pre-examination training to a limited number of candidates belonging to SC/ST/PwD/Minority communities at Chennai, Delhi, Kolkata and Mumbai centres at the discretion of the Bank. An eligible candidate who wishes to avail of pre-examination training should fill in the relevant column in the online application. All expenses regarding traveling, boarding, lodging etc. will be borne by the candidate for attending the pre-examination training programme at the concerned centres

Important general instructions

Candidates are required to apply only online. Any other form of application shall be rejected. Application once made will not be allowed to be withdrawn and fees once paid will not be refunded on any count nor can it be held in reserve for any other examination or selection.

In case of candidates belonging to OBC category, the certificate inter-alia must specify that the candidate does not belong to creamy layer section. Candidates belonging to creamy layer will be excluded from the benefits of reservations for OBCs in civil post and services under govt of India. OBC certificate should not be more than one year old as on the date of application. Candidates belonging to OBC category but coming in the creamy layer, hence not entitled to OBC reservation and age relaxation should indicate their category as general or general (OH) or general (VH)’ (as applicable). PwD candidates claiming the benefit of reservations/age relaxation should submit a copy of medical certificate as specified in the Persons with Disabilities (equal opportunities, protection of rights and full participation) Act, 1995 in support of their disability.

For more information related to Education and Career and Job in India.

Realty — No Comments
22
Jan 11

Get All Started in Real Estate World With Foreclosure Loans

You may have never thought of buying any house in auction, and it may be due to your non-interest and even less availability of funds. What if someone gives you a chance to spend money on a house under foreclosure, as a mean of earning a profit for you? I am sure it’s Great Idea! Everybody needs to have few things under consideration, as an alternative source of income. You can succeed very well as a Real Estate Investor only if you get help from Private Money Lenders and even get Foreclosure Loans. This loan type is particularly designed for clients who are interested in buying houses under auction.

Foreclosure Loans are best suitable for those persons who want to get ready made house, and they don’t find it easy to get on lot of repairs as fix and flip process and even rehab process requires. You have to have a greater degree of research over that specific house as a mean of investing in a right property. Then your lenders are only willing to offer you loan after their satisfaction with third party neutral evaluation, and they are not going to be all that specific about the emotional likings of a property. They spend hours over investigation of key factors that can contribute to your real reason for investing in a property, being all worthwhile.

You have to understand lot of things about Foreclosure activity as you are going to enter into world of real estate investment soon. It is a process of auction over those houses which are purchased with loan funds from some banks. Then the owners of the house are under mortgage deal and they have to pay the regular installments, but they fail to comply with this liability due to financial crisis or any other reason. The lending bank then sends Notice of Foreclosure to the borrower and that is usually carrying two week’ time. It is a perfect time of property Investors, to apply for Foreclosure Loans to their lenders and then take active part in the bidding process. But you have to understand the fact that the loan application must reach at least three working days before the actual process.

The best way to understand the process of foreclosure is to actually visit the bidding place and just observe the happenings, and then plan out for the next best property foreclosure. When you understand that every private money lender needs an evaluation prior to the auction as a necessary step to avoid any misdeal. Then you won’t be having a problem in applying for Foreclosure Loans after necessary search and understanding the key marketing points by yourself.  You can keep on looking for good opportunities and then invest in something that is really reliable. Even the process of foreclosure offers great business opportunities after its end. You can go to the purchaser and ask for a post-foreclosure deal.  It would allow you a fair chance to investigate about the property and then apply for loans with full information.

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14
Jan 11

Tips For Buying Pre Foreclosures

The owner is still in complete control of the property or home, although the bank or lender will repossess the home if the owner doesn’t attempt to rectify the situation. 

 

 Normally, if the owner makes things right with payment, the pre foreclosure will settle and things will go back to normal.

 

When buying real estate, there are several benefits to pre foreclosures.  Although there are several ways that you can buy a home, pre foreclosure is one of the best.

 

  Even though it is one of the best ways to buy property, many people miss out simply because they aren’t familiar with pre foreclosures and all of the benefits that come with them.

 

The best thing about pre foreclosures is the prices that are associated with them.  In most cases, the owner has no choice but the sell the house, and therefore will listen to just about any offer that he receives.  Due to this very reason, you can find pre foreclosures for sale at nearly 50% off market value.  This is an ideal time to purchase, especially if you are looking to save a lot of money.

 

Along with the great prices you can get with pre foreclosures, you’ll also have the luxury of dealing directly with the owner – no third parties involved.  This is a great advantage, with buyers being in total control of pre foreclosure sales. 

 

 In the event that the home owner decides to turn down your offer and cannot find another buyer, he will lose everything.  Even if you offer the owner a small price, he will be able to make a little bit of money selling the home.

 

You can find pre foreclosures that up for sale pretty much the same way that you can find homes in which the bank already has control of.  You can look in the local newspaper, on the Internet, or by calling the lender directly. 

 

 There are several options that you have in terms of finding pre foreclosures, giving you plenty of options. Once you have found a pre foreclosure for sale, it’s up to you to seal the deal and get the home of your dreams at a very affordable price.

 

When you compare foreclosed properties with pre foreclosed properties, you’ll find that there is less competition involved with pre foreclosures.  Pre foreclosed homes are a great purchase, as they will normally come at a very affordable price. 

 

 Those of you who have been looking for a new home shouldn’t hesitate to check out pre foreclosed properties.  They are a great investment – and can indeed be very profitable in the long run.

 

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6
Jan 11

How To Get Banks Accept Your Offers On Reo Properties

In today’s real estate market, most banks have more houses in their inventory than they can handle.   The are the leading home seller in a market that has very few buyers.

 To buy these properties, you must learn how to make offers that these banks will accept.

 Here are some tips to help you buy properties from banks cheap.

1)    Get pre-qualified
 Any time you are buying properties from a bank, you must show proof of funds, either in cash or load pre-qualification.

 This must be your first step because no bank will talk to you without it.

2)    Get a good buyers agent
 Most bank owned properties are listed in the MLS by a real estate agent.   Your offer will have to go through this Realtor.

 You therefore need to get a Real estate agent working for you to make an offer.

3)    Do your due diligence
 Most bank owned properties need little to no repair.   You must do a good repair estimate.  You will use these to negotiate a better buying price.

 Some conservative comps will be necessary to negotiate a lower price.

4)    Order an inspection
 You must get this when buying bank owned property. Banks will rarely fix up houses, but will offer them at a discount when possible.

 Put an inspection clause in your contract to get you covered.

 Most likely, you will discover problems you were not aware of from the inspection.  You will need these to get your offer price lower.

 If your offer requires the bank to fix the property, it will be rejected.   Your buying terms should be as is where is.  Ensure your contract shows this. They will offer discounts based on needed repairs.

5)    Other costs
If the home is in a community where there is a home owners association, make sure that all dues are paid up, and your fees will be prorated from the day you own the property.   Fees and fines are common in foreclosure properties.

 Ensure you get these fees credited at closing.

Similarly, make sure there are no back taxes owed.   Make sure you receive a prorated credit at closing.

Lastly, make sure the utilities are paid up; you could be stuck with huge bills that were not cleared by previous owner.  Make sure these are cleared.

6)     You offer should be lower than asking price
 Banks are ready to negotiate.  Always offer lower than the asking price.  Properties that have been sitting in the market for a while will be more discounted.

 Avoid offering less than 90% of the asking price.  And if your offer is not accepted, you can make a higher offer depending on the bank’s counter offer.

In order to run a successful real estate investing business, it is necessary to increase efficiency so you close more deals using less time, money and effort. Learn how you can automate real estate investing business from an interactive real estate investor website.

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6
Jan 11

Understanding Foreclosures & REO Property Investments

Understanding foreclosures today can provide savvy investors with the ability to take advantage of one of the greatest wealth building opportunities that we will likely experience in our lifetime: REO property investment.

“REO” is an acronym for “Real Estate Owned” (by the bank) i.e. REOs are homes that have been foreclosed and repossessed by the bank (or other lender).

The key to understanding foreclosures & REO property investment is to have the desire to build wealth. This may sound silly, but if you’re totally satisfied with your financial situation you’re not going to invest your time in learning a new investment strategy.

Next, you need to gain an understanding of WHY investing in foreclosures/REOs is an extraordinary opportunity to build wealth. This supplies the motivation required to invest your time in learning how to take advantage of the opportunity and start taking action.

Now, assuming that you’ve got the desire and the motivation to build wealth, we’ll get into the meat of understanding foreclosures & REO property investment:

We’ve already explained the term “REO Property Investment” above. Now, let’s take a close look at foreclosures:

UNDERSTANDING FORECLOSURES:

“A situation in which a homeowner is unable to make principal and/or interest payments on his or her mortgage, so the lender, be it a bank (or other lender) can seize and sell the property as stipulated in the terms of the mortgage contract.” (Answers.com)

Foreclosure is a legal process. The foreclosure process varies from state to state, so we need to generalize here – but it always starts when a borrower (homeowner) defaults on their mortgage payments.

After several missed payments, the bank will file a “Notice of Default” (NOD) which is followed immediately by a “Reinstatement Waiting Period” (usually 120 days).

During the Reinstatement Waiting Period, the borrower (homeowner) has the opportunity to catch up on missed payments and bring their home loan current, thereby avoiding foreclosure. If this doesn’t happen, a “Notice of Sale” (NOS) will be filed with a date and time posted for sale of the property.

This is followed by another “Waiting Period” (usually 90 days) during which the borrower can still catch up on missed payments and avoid foreclosure. If this doesn’t happen, the property will go to a “Trustee’s Sale” (also can be called a “Sheriff’s Sale”) which is an auction.

If no one purchases the property at the Trustee’s Sale auction, title to the property reverts to the bank and it becomes an REO property – recall this means “Real Estate Owned” (by the bank).

QUESTION: What is the difference between a foreclosure property and an REO property?

ANSWER: A property in foreclosure is a home that is in one of the stages of the foreclosure process (NOD, Reinstatement Waiting Period, NOS, or Trustee’s Sale). An REO property is a home that has completed the foreclosure process, didn’t sell at auction and therefore reverted to the property of the bank.

INVESTING IN FORECLOSURES & REO PROPERTIES:

There several opportunities to invest in foreclosure and REO properties:

1. During the Reinstatement Waiting Period directly from the homeowner – helping them to avoid foreclosure.

2. During the Waiting Period following the Notice of Sale directly from the homeowner.

3. At the Trustee’s Sale (auction).

4. From the bank as an REO property.

For more information, I recommend “The LazyMan’s Guide to Understanding Foreclosures & REO Property Investment” as an excellent resource for understanding foreclosures and REO property investment in easy to understand terms.

CONTACT:

www.JohnHanlin.com