New Home Buyer Grants Available

Thousands of people each year dream of becoming homeowners. A new Program may help that dream become reality and now allows for either a 3% or 5%* Grant! This home buyer assistance program currently provides low-to-moderate income families and individuals with a grant that does not have to be repaid.  The grant can be used towards down payment or closing costs. Many times this allows home buyers to purchase a home much sooner than they thought possible.  This  Program is available for the purchase of an owner-occupied single-family residence, approved condominium or planned unit development located in the state of California.  New and Existing homes may qualify, and you do not have to be a first time home buyer to qualify. Contact us today and we can refer to one of our Preferred Lending Partners that specializes in grants for home buyers.

Fannie Mae Launches First Time Buyer Program

HomePath®has just launched their HomePath Ready Buyer program, a comprehensive online homebuyer education course that is a requirement for a new first time buyer program. First Time home buyers who complete this education course by their initial offer may request up to 3% closing cost assistance toward the purchase of a HomePath property and reimbursement of the HomePath Ready Buyer training cost.

To be eligible for the offer:

  • Buyers must complete the full online HomePath Ready Buyer training course on and receive the Certificate of Completion.
  • The request for closing cost assistance must be made at initial offer in the HomePath Online Offers system on or after April 14, 2015.
  • Must be First Time Homebuyer (did not own a property in the past three years) and plans to reside in the property as their primary residence.
  • Auction, pool and investor sales are not eligible.

For additional information on available first time home buyer programs, give Midas Realty Group a call at 800-546-2289

 

Fannie Mae

Communities served by Midas Realty Group-

first time buyer programsMidas Realty Group is licensed to conduct real estate transactions in California.  Our largest area of service covers the Southern California communities of Orange, Los Angeles, Riverside, San Bernardino, and San Diego Counties and we can assist first time home buyers in each of those areas.

FHA and Community Enhancement Fees

 

Buyers and Sellers of homes in the communities of Ladera Ranch, Talega, and San Clemente are required to pay a community enhancement fee at the time of close of any escrow or purchase.

Often described as a “lifestyle” fee, these private transfer fee obligations are a recorded covenant running with the land obligation of the sellers. Payment of this fee obligation is according to a recorded covenant and cannot be avoided.

Such recorded community enhancement fees commonly have language such as: “By its acceptance of a deed with respect to any residential Unit (as such term is defined above), the Owner of such Unit is hereby deemed to acknowledge and agree to the requirement that any Owner transferring title to such Unit shall pay to the Association a Community Enhancement Fee in an amount not to exceed one-fourth of one percent (0.25%) of the gross sale price of the Unit. By its acceptance of a deed with respect to any residential Unit (as such term is defined above), the Owner of such Unit is hereby deemed to acknowledge and agree to the requirement that any owner transferring title to such Unit shall pay to the Association such Community Enhancement Fee. Certain exemptions apply.”

So even though FHA and government-backed loans have been made by lenders in these communities for more than 10 years, HUD has recently said that such government-backed loans are no longer authorized where there are required private transfer fees.

HUD (U.S. Housing and Urban Development) representatives have recently said: “Ladera Ranch is one of many master planned communities where mandatory private transfer or other transfer fees are required upon each conveyance of the property. This includes single-family dwellings, townhouses, PUDs, MH and condos.  Per the regulation at § 203.41, private transfer or other transfer fees are not authorized. This rule was promulgated in 1994 and announced via Mortgagee Letter 04-02 and, according to HUD, the “requirements of the rule are still applicable.”

So despite HUD not enforcing its own regulation after more than 10 years in Ladera Ranch and Talega, such purchase money loans will no longer be insured or purchased by HUD. And unless it backs off on its declining to authorize loans where such private transfer fees are required, FHA mortgage insurance will no longer be available.

So how does a home buyer or home seller overcome this obstacle?  The property will either have to be sold to a buyer with conventional financing or cash to close.

Flood Insurance Changes Begin April 15.

Flood insurance is changing and changing in a big way, beginning this month. April 2015 changes to the National Flood Insurance Program (NFIP) are results of the Homeowner Flood Insurance Affordability Act (HFIAA) and the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters). See the video below or visit the FEMA website for more Details.

View in FEMA Multimedia Library

Probate Realtor for California | Probate Real Estate

Need a probate Realtor for California properties? Midas Realty Group provides experienced probate Realtors handling all types of probate real estate matters in Southern California- Orange, Los Angeles, Riverside, San Bernardino, San Diego Counties.

Probate is the legal process wherein the estate of a decedent is administered.  It is the legal method to transfer assets such as houses, cars, stocks, bonds, boats, and personal belongings from a deceased person’s name to his or her estate so they can be sold or distributed to the heirs.

When a person passes away and had accumulated assets in excess of $100,000, his or her estate must go through probate, and the process is overseen by a probate court. If the decedent leaves a will directing how his or her property should be distributed after death, the probate court will determine if it should be admitted to probate and given legal effect. If the decedent dies intestate—without leaving a will—the court appoints a Personal Representative to distribute the decedent’s property according to the laws of Descent and Distribution. These laws direct the distribution of assets based on hereditary succession.

Real Estate may be included in an estate. Sometimes the real estate is owned free and clear but other times the property may be encumbered by a mortgage.  Real Estate affected by probate can include houses, condos, timeshares, lots of land, and commercial properties.

If a Personal Representative or an Executor is named it is his or her responsibility to gather deeds, insurance papers, annuities, and mortgage documents. The Representative is also responsible to  safeguard the assets while in the midst of probate and to liquidate according to the decedent’s wishes or as necessary in order to pay outstanding obligations.

In California, there are specific rules and guidelines to follow when handling matters of an estate so it’s important to rely on the help of a Probate Real Estate Specialist to make sure the correct processes are followed.

Midas Realty Group is experienced in handling probate sales throughout California and our Broker is a Certified Probate Real Estate Specialist (C.P.R.E.S.) as wells a Senior Real Estate Specialist (S.R.E.S.). As specialists we can assist you in navigating through the probate system and we can assist you in handling your real estate matters quickly and responsibly whether you are located around the corner or across the country.

In addition to listing and selling the property and providing full service, experienced representation, we can also

  • Provide a complimentary Comparative Marketing Analysis (CMA) from a Probate Realtor
  • Obtain Title documents
  • Arrange for termite inspection
  • Negotiate with lenders if the property is not owned free and clear
  • Coordinate cleaning out or cleaning up of property
  • Supervise and organize cleaning crews, haulers, movers,  liquidators, carpet installers, and painters
  • Assist in ensuring the property is secure and handle any lock issues
  • Organize shipping of personal items
  • Make Court Appearances with Attorney if necessary
  • Advertise property to public as well as private list of Cash investors
  • Provide you with all disclosures of the property

As Probate Real Estate Specialists, we don’t provide just one service to our clients; we also assist our clients in handling the details that can help make the process as easy as possible.

So you probably have additional questions, and the best way to get them answered is to call Midas Realty Group Now at 800-546-2289.  A probate Realtor  answer your questions right over the phone or we can set up an appointment to meet with you in your own home. You can also fill out your information on one of our online forms or send us an email to probate@midasrealtygroup.com  and let us know when and how to contact you

Help is just a phone call away. You can rely on Midas Realty Group, because everything we touch turns to SOLD!

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For legal advice or legal assistance regarding a probate matter, visit the California Bar Association for a referral to a local attorney http://www.calbar.ca.gov

For more information on what probate is visit http://en.wikipedia.org/wiki/Probate

About Midas Realty Group- Probate Realtor Assistance

Probate RealtorMidas Realty Group is a Boutique real estate brokerage providing services throughout Southern California and Nevada. As a Boutique firm, we offer our clients highly specialized services that address their specific real estate needs. Larger companies focus on market share by shuttling clients in and out of their doors.  We provide a customer service based business model that is focused and specialized toward each client. We put our years of unique experience at work, to ensure our clients achieve their goals. As a result, our clients continue to rely upon us for their future real estate needs, and they feel comfortable referring us to their family and friends.

As a client you will benefit from our initial needs analysis and the success plan we create with you.  Whether you are an individual purchasing your first home, a family interested in selling a home, or an investor seeking help with liquidation of several assets, you will be fully engaged and aware of our marketing efforts and the work that is being done on your behalf.

Midas Realty Group specializes in several niche areas for our clients, but our success really comes down to marketing and negotiation. We utilize 25+ years of in-house marketing experience to get our clients the exposure they need; and we use our years of negotiation experience for results that make every client feel like a winner.

Now that you know a little about us, contact Midas Realty Group today to discuss how we can help YOU achieve your real estate goals.  Call us now at 800-546-2289.  We will be happy to answer your questions right over the phone. You can also fill out your information on one of our online forms; or send us an email to info@midasrealtygroup.com and let us know when and how to contact you.

West Covina Probate Home Sold

West Covina Probate home Sold! Cute 3 bedroom 1 bath home with pool, attached garage, in near original condition- sold for $380,000.   Built in 1953, this well maintained home had one owner. Attached garage, smooth ceilings, sparkling swimming pool, and landscaped yard. Original hardwood floors under carpet. Schools, shopping, restaurants, entertainment and transportation and freeways all close by. Call Midas Realty Group for assistance in selling your home – 800-546-2289 or send a private message.

West Covina Probate listing sold.

West Covina Probate listing sold.

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