Making money in probate real estate

Making Money in Probate Real Estate

We hear every day how the real estate market is going under, but yet certain real estate investors are making money every day, regardless of market volatility. How?

By buying probate real estate.

Probate is the legal process property goes through when someone dies. The court gets a hold of the deceased estate (land, houses, cars, cash, etc.) and disperses it legally to heirs named in the will.

So how does one step in and pluck out incredible opportunities? Easy. With Profits in Probates, learn all the tricks of the trade, from how to find probates, how to bypass court delays, and how to make offers heirs will pounce on.

While the courts hold an estate in probate, its value gets chipped away at almost daily.

The government comes in first to take more than their share in taxes, then there are possible mortgage payments still due on the property, insurance premiums, lawyer fees, accountant fees, the list goes on and on. By the time the courts release the property to the heirs, theres hardly any value left in it at all for them, and they need to unload the property quick to pay for all those expenses.

Thats where you come in. As a probate real estate investor, you can make the heirs an offer they cant refuse for their probate real estate. Once you have it, it is at your disposal to make improvements upon and resell to new buyers anxious to move in.

So what if when you get the property it needs some work? You have already made the heir an offer 20%-50% below market value and they accepted; you have lots of spare cash for improvements to spruce it up for resale! More improvements means more profits on resale!

Every year, over a million estates go through probate. The process is long and drawn out, and heirs become frustrated and strapped for cash. Because you will know the secrets of locating these estates, you are able to step in and make them an offer for the probate real estate at a deep discount, and the heirs are in dire need of this liquid cash.

Now you have a dirt cheap property ready for you to work your magic and the heirs have the cash they need to free up the rest of their inheritance.

Once you have bought the probate real estate and prepared it for resale, sit back and wait for profit to come knocking at the door; profiting from probate real estate is incredibly achievable.

Death is a fact of life, and a fact of buying probate real estate is that this presents daily opportunities.

Probate real estate can include properties in high end neighborhoods and large rural ranch properties; income providing apartment buildings and condominiums; potential laden, diamond in the rough fixer-uppers can be found any and everywhere.

The voyage to starting your future in the profitable probate real estate market starts today with your copy of Profits in Probate Real Estate. Jump on, grab a hold, and enjoy the ride.

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Steps in pag-ibig loan application

Steps in Pag-ibig Loan Application

A. Attend a loan counselling session at the Pag-ibig office concerned and be briefed on the eligibility. Accomplish a preliminary loan counseling questionnaire, Housing Loan Application (HLA) and Membership Status Verification Slip (MSVS). This will find out if one has an outstanding obligation withHome Development Mutual Fund (HMDF). If eligible, secure the following documents:

  • Members Status Verification Slip (MSVS)
  • Notarized Housing Loan Application (HLA), Principal / Co-borrowers
  • Latest payslip duly certified by the employer (Indicate printed name and designation of assigned signatory)
  • Notarized Certificate of Employment Compensation (CEC)
  • Income Tax Return (ITR) with W2 form
  • Proof of billing address (Electric bills, PLDT. water bills, subscriptions, letters, credit card billing)
  • Certified true copy of Condominium Certificate of Title (CCT). Latest title and its trace back through the Registry of Deeds
  • Tax Declaration of the Philippine property and/or parking
  • Tax Receipts of the property
  • Contract to Sell (CTS)
  • Special Power of Attorney (if applicable) (SPA). a) marriage contract / Birth Certificate. B. Valid ID’s (Passport, License, Voters I.D. SSS I.D., Company I.D.
  • Location Plan and vicinity map signed by surveyor
  • Building, Electric, Sanitary Permits
  • Building / Floor plans signed by the borrower
  • Specification and Bill of Materials signed by a licensed Engineer.
  • License to Sell, Certificate of Registration and Development Permit (if applicable)
  • Note: Incomplete documents shall not be accepted. Submit two (2) sets of documents. Original / photocopy. Always bring the original for authentication and verification. Filing fee: P1,000

B. Receive Notice of Approval / Letter of Guarantee and sign loan documents

C. Proceed to BIR and present Deed of Absolute Sale (DOAS) between the developer of the condo unit and applicant for payment of documentary stamps and capital gains tax (if needed).

D. Proceed to the City Hall for payment of transfer tax

E. Proceed to the Registry of Deeds for payment of Registration Fees for the transfer of title.

F. Proceed to the Notary Public for notarization of Loan Mortgage Agreement (LMA) and annotation of mortgage with the Registry of Deeds.

G. Proceed to Assessor’s office to secure new tax declaration in the name of the applicant.

H. Secure occupancy permit from the local government Unit.

I. Submit the following documents to Pag-ibig office concerned:

  • Original Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) in case of a condominium unit, in the name of the applicant with annotated mortgage.
  • DOAS with original Registry of Deeds stamp.
  • New tax declaration in the name of the applicant.
  • Updated real estate tax receipt (if applicable)
  • Occupancy Permit
  • Assignment of loan proceeds to the developer

J. Release of loan proceeds to the developer

F. Start amortization on the month immediately following loan take out / final loan release.

Important Note: The requirements above may appear voluminous and the steps may be troublesome to follow through. On the other hand, our group of consultants are trained to work closely with developers so that all these requirements will be complied with for our buyers’s worry free transaction and minimal participation in the process. We do not charge any fees for processing or any commission whatsoever. The developers will take care of us and their prices remain the same even if sales are made without the agents or brokers.

Source: HDMF  Pag-ibig Fund

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Condos florida: buy waterfront beach condos in florida tierre verde

Condos Florida: Buy Waterfront Beach Condos in Florida Tierre Verde

Collany Key developed <a href=”http://www.collanykey.com/the-location.html”>Beach condos Florida</a> to provide a modern lifestyle to anyone who lives in it. The suites are designed by creative minds that incorporate a blend of artistic beauty with modern convenience.

If you think that a condo is just a modern dwelling, then you are sadly mistaken. Each and every one of includes recreational and entertainment facilities that will surely appeal to your fancy. Swimming pools are either found on the penthouse or the condo grounds to spend a lot of fun with your friends and families while enjoying the tropical climate. Fitness and health spa promises quality pampering so you won’t have to go to the city just to get your nails done or a good workout to stay in shape.

Community Features

* 20-Acre Waterfront Community

* Gated Island Entrance

* Seven single-family waterfront lots

* Four Waterfront Building Residences

* Mediterranean Architecture

* Engineered Concrete Construction

* High-Profile Clay Tile Roofs

* Pittsburgh / Porter Exterior Paint System

* Covered Poolside Gathering Area

* Custom Blend Paver Driveways & Walks

* Lush Tropical Landscaping

* Custom-Designed Waterfront Pool & Spa`

Enjoy boat ride to see the natural, undeveloped beauty of Shell Island, home to one of the world’s highest concentrations of bottle-nosed dolphins. The island is known as home to hundreds of pelicans, herons, cormorants, and other native seabirds.

You can choose from the private beach at Collany Key in front of the residences. Nearby Shell Island hosts six miles of a beautiful beach. Ft. DeSoto Park, within two miles, is only a short walk, ride or Rollerblade trip away. And St. Pete Beach stretches seven miles from Pass-a-Grille to Blind Pass.

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Bank of america loan modification

Bank of America Loan Modification

Everyone wishes to have their own home and work towards it. They take a loan on the home which they plan to repay every month till the house becomes their own. But in times of recession, when the inflow of cash is very restricted, there is a very little chance of being able to pay back the cash without risking foreclosure. This is where the new federal plan designed by President Obama comes into play. It is basically devised to help out homeowners in need and get lenders to work out new mortgage plans for them. A total of $75 billion is allotted to the lenders which will be given to them if they are successful in working out ideal plans with the borrowers.

Before deciding to get a mortgage modification loan, here are some tips which you should follow. These will help you to save up some money or at least cut down on losses.

The first step is to make a budget which will let you know where exactly you stand. Preparing a budget in times of recession is not exactly an enticing prospect but it has to be done to avoid over-spending. Apart from this, you can also cut down on unnecessary aspects in your budget which are restricting the payment options.

One of the best ways to cut down on expenses is to reduce the number of luxury outings that you make in a month. After this is done, the next step is to make a detailed study of the loan modification process which your lender is offering. Being well-informed about the same will help you in making the perfect pitch for a mortgage modification loan. This can be done by talking to people who have had prior experience in this field. Also, you can take advice from FHA representatives, which is a free service. When all this is done, you are good to go for a loan modification program.

To find out more on how you can qualify for a Mortgage Modification Loan, all you have to do is Click Here

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Why rent to own a home in kitchener

Why Rent to Own a Home in Kitchener

So you’re looking for a Kitchener rent to own home but you aren’t totally sure of the benefits of rent to own, whether it can meet your real estate needs, and why you can’t seem to find any rent to own opportunities in the area. This article will explain a few of the benefits.

The most obvious advantage is that it saves you a lot of money! Think about it…when you rent to own a home you don’t pay any mortgage insurance, land transfer tax, real estate commissions, surveys, inspections, bank fees, loan origination fees, or lawyers fees. All of that typically adds up to a good $10,000 on the average Kitchener home, yikes! Who wants to pay all of that if you can help it? And you can. But the savings don’t stop there. Most home owners require little or no money down on a rent to own contract. Basically they look at it like a regular lease agreement so they’ll look for just the usual first and last.

The second biggest reason to rent to own a home in the Kitchener Waterloo area is that part of your payment goes toward buying the home. The percentage can vary from nothing all the way up to 100% but normally it’s around 25%. Just think, instead of throwing away say $1,200 every month you could have $300 of that going toward owning your new home, but only if you rent to own instead of just lease.

The third top reason is that setting up a rent to own sale is much faster than a traditional sale. With no brokers, lawyers or bankers getting in the way and slowing things down you can often move into your new home within days of first talking to the owner.

The fourth…and I should point out that these are in no particular order, you might consider this the most important point!…in the Kitchener area we’ve been blessed with a stable healthy real estate market for decades. Prices rise fairly steadily and rarely drop by much. So when you rent to own just like with a traditional purchase you lock in today’s price. That means as prices increase YOU benefit instead of your landlord!

There you have it…4 great reasons why a Kitchener rent to own purchase would be a good move for you! I know these deals don’t exactly grow on trees so in another article I’ll talk more about how to find your own rent to own home.

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