Buying Singapore Public Housing At Subsidy – Understanding The Government Cpf Rules.

Central Provident Fund (CPF) was started on 1 July 1995 and is administered by CPF Board. It is a compulsory comprehensive social security network which aims to provide working Singapore Citizen (SC) and Singapore Permanent Resident (SPR) with sense of security and confidence in their old age. Your monies in the CPF’s can be used to fund the purchase of Singapore Public Housing – by Housing Development Board (HDB) resale flat in the open market. To buy HDB resale flat at subsidy, you can apply for CPF Housing Grant for the resale flat purchase, if you meet the criteria set by HDB resale and CPF rulings.

Generally you are not eligible for CPF Housing Grant Scheme in cases where you have previously enjoyed a housing subsidy from HDB, or you and all co-applicants are undischarged bankrupts, or own any of the private residential property (including HUDC flat, Executive Condominium), houses, building, land and commercial property in both local or overseas, or have not disposed of these properties within 30 months prior to the application, or if you are buying a 1-room flat or a resale flat of any flat type that has been announced for redevelopment under the Selective Enbloc Redevelopment Scheme.

If you are cleared by the prerequisites, you are entitled to apply one of the CPF Housing Grant Scheme, and later upgrade to another scheme if further qualified for higher grant. The catch is, you need to commit 5 years of minimum occupation period before you are eligible to sell your resale flat in the open market. Also you will be required to pay a resale levy should you choose to purchase another flat directly from HDB. The amount of resale levy is ranged from $15,000 for 2-room flat to the highest of $50,000 for Executive flat.

There are 7 CPF Housing Grant Schemes targeting to different eligible buyers. Family Grant Scheme is cater for married couples who are first-timer applicants. You must be Singapore Citizen (SC), at least 21 years old, must include at least one listed occupant who is SC or Singapore Permanent Resident (SPR), and form a family nucleus such as your spouse and children (if any), or your parents and siblings, or your children under your legal custody (if widowed or divorced). The average monthly household income ceiling must not exceed $8,000. Under this scheme, SC with SC household shall entitle CPF subsidy of $30,000 while SC with SPR household shall entitle $20,000.

Higher-Tier Family Grant Scheme is targeting the same recipients as mentioned above, but choose to buy a resale flat near their parents’/married child’s house, where parents are staying with you in the resale flat, or your parents and married child are the owner-occupant of property in the same town or within 2 km. SC with SC household shall entitle more CPF subsidy of $40,000 while SC with SPR household shall entitle $30,000.

The CPF grants are flexible for upgrade with the changing household profile. For instance, when your SPR family member eventually takes up SC or when you have a SC child, you can enjoy the full housing subsidy by applying for the CPF Top Up Grant to Family Grant. This Top Up Grant is also targeting to Singles SC who subsequently get married. They can apply for the Top-Up Grant for their existing flat or when they buy another resale flat, if their eligibilities matched.

If your average monthly household income ceiling over the last 1 year is $5,000 and below, you can also apply for the Additional CPF Housing Grant (AHG) Scheme in addition to the eligible Family Grant, Higher-Tier Family Grant, or CPF Top-up Grant. The AHG is meant to give extra financial assistance to people in lower-income brackets. The amount of AHG you will be eligible for is graded based on income ceiling. For examples, if your income ceiling is $1,500 or below, you’ll entitle the AHG of $40,000. The AHG reduce to $5,000 for income ceiling fall between $4,500 and $5,000,

Government has comprehensive schemes to assist SC who are Singles, also known as unmarried or divorcees. To qualify for the Single Grant Scheme, you must be at least 35 years old who are buying the resale flat to live on your own. Alternatively you can also apply with another Singles jointly up to maximum 4 applicants. Your income ceiling must be $3,000 and below if buying a 5-room or smaller resale flat. If you are living on your own, you can get $11,000 CPF subsidy. In joint applicants the subsidy will be $22,000. Singles who choose to live with their parents are eligible for the Higher-Tier Single Grant Scheme, which entitle you $20,000 CPF subsidy.

If you are a first-timer SC who marries a second time and if your spouse has previously enjoyed a housing subsidy, you can apply for the Half Housing Grant Scheme, which entitle you CPF subsidy of $15,000. If you are buying a resale flat near parents/married child like in the Higher-Tier Family Grant, the CPF subsidy will increase to $20,000.

In summary, CPF Housing Grant money can be used to offset the purchase price of the HDB resale flat from the open market, thereby reducing the housing loan amount a buyer needs to secure. You may consult reliable realtor for further advice on your eligibility to apply for CPF housing grant. A professional property agent should furnish you the latest Government, HDB and CPF rulings and transparent information such as recent transaction and current market trend to help you be well informed so that you can buy a HDB resale flat safely and at fair or subsidized price.

solving Todays Delinquent Hoa Fees Problem

The more you get, the sooner you get it, the better off you are.” I felt my forehead scrunch in that familiar expression of confusion as those words rolled off my real estate instructor’s lips. “Come again?” I raised my hand. He then held up two bills: one a twenty dollar bill, and the other a ten. “Which one do you want”, he tempted? “The twenty”, I bit. “Let me ask it again”, he continued. “You can have the ten now, or the twenty in ten years. Now which one do you want?” You could almost see the bright cartoon ‘light bulb’ appear above my head. “That’s the ‘Time Value’ of money” he said, nailing down his point.

Today that issue strikes at the heart of how some HOA’s still depend on liening a property to collect past dues – when all the dynamics upon which that once-successful formula worked have changed. Properties aren’t selling, delinquencies are increasing, and costs to cure are rising. We’re now wedged between a rock and a hard place where buyers are insecure about the market, and lenders require the ability to leap tall buildings in a single bound prior to granting a loan. And it’s getting worse. For example, Fannie Mae and Freddie Mac Federal Lending Guidelines now require Condominium HOA’s to have no more than 15% of their properties 30 days or more delinquent on dues, in order for any property in that project to qualify for a loan. Do you see the vicious cycle? The more delinquencies rack-up, the less likely you’ll see your liens settle any time soon. Meanwhile properties are getting older and in need of more repairs. This is no time to not have time on your side.

Another downside often missed is that delinquent homeowners don’t care if their old property has a lien against it, because that only reflects poorly on the property – not them. What leverage do you have to get a delinquent homeowner to pay you if there’s no consequence to them? It’s far easier and less expensive to take simple steps to pursue the debtor, and it’s far more effective as well… but more on that in a moment.

Small Claims Court can work, but it can become expensive and requires a lot of time. Lawyers are costly, even when they “stack their fees on top”, because they’re essentially making the debt harder to collect – which makes that method a bit of a Trojan Horse for you.

In every piece of bulletproof glass there’s a tiny point requiring the slightest of impact to shatter that glass. Is there such a spot with delinquent HOA fees? Yes, there is. And there’s a most effective way to reach it. Using this method in context with other proven techniques is very effective, and can cost very little to do. There are rules and regulations that must be followed, but once credit reporting is enabled the delinquent homeowner has little or nowhere to run. That’s because even trying to rent an apartment today demands you have no record of owing any previous housing delinquencies of any kind. In fact credit reporting can adversely affect many aspects of a debtor’s life today – even employment. Having delinquent HOA fees on their credit report dictates they get back with you – sooner than later – to pay their debt. Even the mere threat of reporting can quickly generate a state of mind in prudent debtors to start paying you, and to do so now.

One other thing you must insist on in any service that provides the array of tools to facilitate HOA collections is: it must be a system where the debtor pays you directly – no exceptions! Allowing your money to go through anyone else’s hands first, opens the door for all kinds of problems; ranging from delays in receiving your money, to not receiving all the money you should.

There are a few other simple tricks of the trade that can be employed to expedite collecting your HOA’s money, but credit reporting is a must in any system. Without it your approach has no teeth. Coupling credit reporting with a systematic program including an attorney written demand, VOE, and phone campaign you’ll find is most efficient indeed. Solid, inexpensive and effective alternatives to high-cost methods to recover your delinquent HOA fees are available. Be sure they include the elements discussed here, and your results will dramatically improve.

Fenway District Apartments Provide Luxury and Value

Fenway, also sometimes referred to as Fenway-Kenmore, The Fenway, and a host of other nicknames, is home to some of the best Boston Luxury Apartments. This neighborhood is situated on the waterfront, between Brookline and the Back Bay, and boasts some of the city’s most notable attractions. The historic Fenway Park baseball stadium is in the neighborhood, as is the famous Citgo sign. Cultural landmarks like the Boston Symphony Orchestra and the Museum of Fine Arts are also in close proximity of upscale Fenway Apartments. Nightlife is also alive and well in this neighborhood, which is home to some of Boston’s best-known sports bars, eateries and nightclubs. Additionally, not only do most Fenway apartments come with a great view of the water, but they also get a glimpse at the neighborhood’s numerous parks, gardens and other green spaces.

Apartments in the Fenway district offer easy access to everything that’s hot in the city, and for this reason Fenway apartments are bought up by some pretty impressive tenants. Without getting into names, this is the section of the city where many of Boston’s most affluent, notable, and famous residents live from professional athletes to news anchors, to surgeons and college professors. Many college and grad students also favor Fenway apartments, but this isn’t your typical “frat house” neighborhood. The Fenway district attracts a certain type of student, due to the neighborhood’s close proximity to prestigious educational institutions like the Berkeley College of Music and Harvard Medical School.

In true Bostonian fashion, the city’s luxury apartments run the gamut from new to old. However, almost all of these luxury apartments are filled with amenities designed to make your home comfortable, modern and opulent. Details like granite counter-tops, high ceilings and hardwood floors make all the difference in making your apartment as comfortable and luxurious as it possibly can be.

In addition to all these extra details and luxuries, there are also several building amenities to take note of. Many Fenway apartment buildings offer up extras like free wi-fi connections, concierge services or garage parking. While these amenities aren’t necessarily the reason to buy or rent a Boston luxury apartment, they do help you feel like you’re getting what you paid for, and do help make life that much more easy.

Perhaps best of all, the cost of luxury apartments in Boston is very competitive in comparison to other major metropolitan areas, giving you renowned luxury at an incredible value. If you are ready to take your place among Boston’s best and brightest, then it may be time to start looking at luxury apartments in Boston’s Fenway district.

Growing Demand Of Real Estate In Dehradun

Real estate market in India has witnessed multi-level growth in the past few years. As per the industry, the upward graph has no chance of reaching down or even no chance of coming flat for next few years. Lots of activities that include residential complex development, commercial real estate development, retail space development, etc have driven the Indian real estate market.

Apart from metropolitan cities, property prices of small cities in India are rising fast. Owing to tech boom across the country, property in Indian is attracting more investors, most of them from abroad. As per the sources of real estate industry, Indian real estate is increasing at 30 percent per annum.

Due to increasing property prices, buyers are looking forwards to invest in two and three tier towns where property rates are growing with rapidity. Dehradun real estate is one of the most demanded properties in India to its due to emergence of a large number of national and multinational companies.

Almost 90 percent of real estate developed is residential space and the rest include office, hotels shopping malls and hospitals. This type of double-digit is primarily attributed to the off-shoring and outsourcing businesses, such as high-end technology consultation, call centers and programming houses.

The demand from the IT sector surely has changed the urban landscape in India. According to estimates, there is a demand for nearly 70 million square feet of IT & ITES space over the next four or five years. Many multinational companies continue to move their organizational operations to India to take benefit of less manpower and other costs. Providing human resources and home at their work place presume great importance and there the requirement of form space for people to live and wok that in turn cause the development of other related infrastructure. It has been a predominant trend to set up the worlds best business centers, often campus-style establishments, bearing a different corporate stamp.

Conscient, a leading name associated with Dehradun property and real estate Dehradun, offers a wide range of real estate in Dehradun with most luxury at affordable price.

Types of Masonry Construction, Characteristics and Common Uses

Types of Masonry Construction, Characteristics And Common Uses

Virtually, all buildings incorporate some type of masonry construction, whether it is a stone or concrete foundation, brick veneer walls, or terra cotta ornamentation. Preservation of these buildings requires a basic understanding of masonry types and their characteristics, technology and construction methodology, proper maintenance and conservation treatments.

Masonry is generally a highly durable form of construction. However, the quality of material used, together with the quality of the mortar and workmanship can strongly affect the durability of the overall masonry construction. Masonry is commonly used for the walls of buildings, retaining walls and monuments. Brick is the most common type of masonry and may be either load bearing or a veneer. Concrete Masonry Units (CMU’s) are made from concrete and are larger than ordinary bricks. CMU walls can be reinforced by filling the block voids with concrete and steel reinforcing bars. Typically, not all voids are filled, but rather those at corners, wall ends, adjacent to window and door openings, which increase wall strength and stability. Placement of steel reinforcement generally results in a CMU walls having much greater lateral and tensile strength than unreinforced walls.

The earliest material to be used was stone. It can be obtained in two ways: from natural outcroppings or scattered deposits, and by the process of quarrying. Most early buildings were constructed of stone readily available near the building site. Early stonemasons also were aware that certain stone types had more -weatherability- – able to withstand the effects of weather better than others – and they utilized each type in accordance with its properties. Stones may be laid up in their natural form, or broken and squared, or shaped, for the proper fit with other stones in the wall.

Quarrying, the industrial process of extracting stone from the earth requires substantial effort and technology. In this process, stone is drilled, blasted, fractured or cut from the quarry face, and then shaped and finished for use in construction.

Concrete masonry units (block and concrete brick are available in sizes, shapes, colors, textures, and profiles for practically every conceivable need and convenience in masonry construction. In addition, concrete masonry units may be used to create attractive patterns and designs to produce an almost unlimited range of architectural treatments of wall surfaces. The following are some more prominent uses:

Exterior load-bearing walls (below and above grade)

Interior load-bearing or non load bearing walls

Fire walls, party walls, curtain walls

Partitions, panel walls, solar screens

Backing for brick, stone, stucco, and other exterior facings

Veneer or nonstructural facing for wood, concrete, or masonry

Fire protection of structural steel members

Firesafe enclosures of stairwells, elevator shafts, storage vaults, or fire hazardous work areas

Piers, pilasters, columns

Bond beams, lintels, sills

Floor and roof systems

Retaining walls, slope protection, ornamental garden walls, and highway sound barriers

Chimneys and fireplaces

Catch basins, manholes, valve vaults

Paving and turf block

Solid brick masonry is made of two or more layers with the units running horizontally (called -stretcher- bricks) bound together with bricks running transverse to the wall (called -header- bricks). Each row of bricks is known as a course. The pattern of headers and stretchers employed gives to different bonds such as the common bond, with every sixth course composed of headers, the English bond, and the Flemish bond, with alternating stretcher and header bricks present on every course. There are no real significant utilitarian differences between most bonds, but the appearance of the finished walls is affected. Brickwork, like unreinforced concrete, has little tensile strength, and works by everything being kept in compression.

There are many brick laying patterns, the following are but a few:

Stack Bond The brick laying patterns described by this term are not structurally sound and are used only for decorative purposes. The stack bond is a run of stretchers with each stretcher stacked centered on the stretcher below it. All joints run vertically down the entire wall.

Running Bond brick laying patterns are a run of stretchers with each stretcher placed in the center of the stretcher below it. This pattern gives a reasonable amount of structural soundness.

English Bond is made up of alternating courses of stretchers and headers. This is the strongest bond for a one-brick thick wall.

Brick Terminology

Bat is a brick cut in half or quarter along the short face

Closer A queen closer is brick cut in half down the long face. They are used in corners of English or Flemish Bond.

Header Brick is laid in a wall, usually connecting two rows of a double wythe wall. The smallest end of the brick is horizontal, aligned with the surface of the wall and exposed to the weather.

Quoins are groups of brick that project slightly from the face of a wall at the corner of a building. The pattern often alternates with several courses projecting bricks, and several courses that are aligned with the wall. The pattern of projecting quoins often alternates with the brickwork on the other side of the corner.

Rowlock is a complete course of brick laid on its side, with the shortest end of the brick exposed and vertical. Commonly used on the top course as a coping for a garden wall.

Sailor Brick are laid on its end with the largest, broad face exposed.

Shiner Brick laid on edge like a sailor, but the broad face is set horizontally.

Soldier Brick often is a complete course of brick laid on end vertically, with the narrow side exposed in the face of the wall.

Wythe is a single vertical wall of brick.

Clay Brick vs. Concrete

The formula for brick making has not changed for hundreds of years. The primary ingredients are clays and shale. It is these ingredients that give natural brick its colors and hue.

The natural color of concrete is gray. In order to give concrete bricks color, additives are necessary to create the variety of colors. Weather and the ultraviolet rays of the sun can cause concrete bricks to fade over time.

Concrete bricks have a tendency to shrink. During the concrete curing process, if the bricks are not properly cured prior to being delivered to the jobsite, shrinking and cracking will appear at the mortar joints and can allow water to enter the wall cavity.

According to a recent survey of architects, designers, engineers, and environmental planners and managers conducted by the Portland Cement Association (PCA), 77 percent chose concrete as a sustainable material. Overall, respondents ranked concrete favorably for its energy efficiency, durability and reduced maintenance. Over 500 individuals participated in the blind survey presented in an Internet survey form by a third party web host.

According to PCA President, -buildings with exterior concrete walls utilize less energy to heat and cool than similarly insulated buildings with wood or steel frame walls-. Additionally, -the superior insulation, air tightness, and mass of the walls can reduce energy for heating and cooling by up to 40%.

Stand Alone 240v Mains Smoke Alarm Vs Battery Smoke Alarms

As the name suggests, a smoke detector is the piece of equipment placed in homes or buildings to detect smoke caused by a fire. In a commercial or industrial setting, smoke detectors issue a signal to a centralised fire alarm system. Stand alone smoke detectors, also known as smoke alarms, for domestic or small commercial settings send out a locally audible or visual alarm from the detector itself. Whichever process they use, the fact remains that smoke alarms are life savers. These devices help you to avoid any mishap or disaster due to sudden break out of fire. They send out the signal at the slightess hint of smoke detected in the air allowing us to take timely preventive measures. There have been many instances in the past where some serious damage to life and property could have been avoided if smoke alarms had been fitted.

Most smoke alarms can easily detect the smoke produced by flaming fire, smouldering fire, and even a slow burning fire. If you are planning to buy a smoke alarm for your house, you have three options: mains smoke alarm, mains smoke alarm with battery back up or battery only smoke alarm. The battery smoke alarm is powered by a battery, whilst a mains smoke alarm is powered by the mains electricity.

Battery powered smoke alarms are simple and easy to install. It is still desirable to have battery back up in a mains smoke alarm to allow the smoke alarm to carry on working even in the even of a power cut or electricity failure. In a standard battery smoke alarm, the battery would need to be replaced every 12 months. However, you could opt for the ones that are fitted with 10 and 15 year batteries to avoid the hassle of replacing the battery every year.
Mains smoke alarms need to be installed by a qualified electrician. Now, most mains smoke alarms come with a battery backup to ensure continual functionality regardless of the situation in hand. Both battery and mains smoke alarms offer additional benefits as well. For instance, these devices also feature emergency lights and silence buttons, for use where false alarms can be a nuisance especially when you are cooking. Some are also interlinkable, which means any smoke detected at one point can raise alarm at all other points as well.

Firex is one of the leading brands offering a wide range of both battery and mains smoke alarms. You may choose to buy Firex 230/240V, a mains interlinkable smoke alarm for your house. It comes with an Alkaline battery backup which provides a standby supply for up to 4 years. Its L models come with a Lithium battery or Lithium rechargeable batteries providing a backup of 10 years.
You can buy smoke alarms for your home online at competitive prices. One website that offers smoke alarms and a wide range of other electrical products at discounted prices is alertelectrical.com.

Progress In Preparing The Draft Condominium Statute

Progress in preparing the draft regulations under the Thailand Condominium Act amended in 2009 with the purchase and sale agreement is almost completed and will be presented to the meeting of the Council of Ministers (Cabinet) in August 2011. The essence of the contract will be to declare the act as another measure to protect consumers, which requires that any project or condominium units which will be open to the public for sale must be certified or approved by the Environment Impact Assessment Committee (EIA) and must have a valid license for construction.

The framework of this contract will provide fairness for the buyer. Many previous condominium projects were sold or booked but without passing the EIA assessment first which meant that there were many legal cases being brought against developers.

The legislation drafting committee has now approved Condominium Act law. Preliminary determination of the initial height from three stories up and the height of the building will be based on the building control act which regulates the rules or details already. Room sizes, for example, must have a minimum usage area of 20 square meters and a bathroom included. However, the editing of the various definitions will take a year to complete and make enforceable.

The new combined Bangkok city plans to include FAR (Floor Area Ratio) for land use along the metro system includes both open-for-business and under-construction projects and investment projects in the planning stages. According to the combined Bangkok city plan which is considering updating and prepare to announced a new city plan enacted for 2012. By taking lessons and shortcomings of the previous land use plan for revision as well as the growth rate of both residential and commercial development including the number of people using the area as a key element in determining the future layout of urban development.

The consideration of the new Bangkok city plan will increase the use of land along the entire metro route which is currently in service and currently under construction according to master plan and investment plan.

This is because the demand for land along metro lines is high from both investors interested in investing in all types of commercial ventures including shopping centers and low-rise housing and high-rise housing especially in the inner city and central areas and the demand of living near working areas and shopping centers. The city of Bangkok will increase the FAR ratio or total building area per land area to be able to construct more on the same piece of land as 1-2 times.

Apart from that, areas in Bangkok inner city and Bangkok middle areas that have the overhead train can be able to develop more high-rises with land high prices and are likely to be considered worth the investment of further rail systems including Bangkoks outer areas stations.

However, BMA has planned to raise the ceiling of a maximum FAR10: 1 to FAR 15:1 especially in some of the red zone area such as some part of Silom will also increase In descending order according to their suitability and land use. increasing the FAR to 11:1, FAR 12:1, FAR 13:1, FAR 14:1 and FAR15: 1. However, it must depend on the city planning committee for approval.

What is a Scottish Trust Deed

In Scotland, those who are in personal debt can investigate trust deeds as a way of repaying there creditors. In one of these so named protected trust deeds (also known as PTD) all debts can be wiped clean inside a period of three years. Whilst the deed is in effect you will be unable to borrow money or use existing credit and store cards.

Scottish trust deeds function in a similar way to Individual Voluntary Arrangements in that they are a less drastic method to personal debt than personal bankruptcy. In each a PTD and an IVA you should in a lot situations be capable of keeping your home and belongings and will not suffer the same limits that bankruptcy imposes on any financial choices and future financial products.

For useful suggestions on whether or not a trust deed may be the suitable option to your difficulties, Rite Financial specialist in honest and straightforward information. We provide advice on a variety of financial solutions and have expertise on providing you with the best solution to handle your debt.

UK Debt statistics for 2010
Total UK personal debt at the end of November 2010 stood at 1,454bn. The twelve-month growth rate was unchanged at 0.8%.Individuals owe more than what the whole country produces in a year.
Total lending in November 2010 rose by 0.7bn; secured lending increased by 0.8bn in the month; consumer credit lending decreased by 0.1bn(total lending in Jan 2008 grew by 8.4bn).
Total secured lending on dwellings at the end of November 2010 stood at 1,240bn.The twelve-month growth rate decreased 0.1% to 0.8%.
Total consumer credit lending to individuals at the end of November 2010 was 214bn.The annual growth rate of consumer credit was unchanged at 0.6%.
UK banks and building societies wrote off 9.9bn of loans to individuals in the last 12 months to end Q3 2010. In Q3 2010 they wrote off 1.83bn (740m of that was credit card debt).This amounts to a write-off of 20.10m a day.
Average household debt in the UK is ~ 8,495 (excluding mortgages). This figure increases to 16,336 if the average is based on the number of households who actually have some form of unsecured loan.
Average household debt in the UK is ~ 57,706 (including mortgages).
If you add to this the March 2010 budget report figure for public sector net debt (PSND) expected in 2015-16 (excluding financial interventions) then this figure rises to 109,928 per household.
Average owed by every UK adult is ~ 29,875 (including mortgages). This is 126% of average earnings.
Average outstanding mortgage for the 11.4m households who currently have mortgages now stands at ~ 108,936.
Britain’s interest repayments on personal debt were 65.1bn in the last 12 months. The average interest paid by each household on their total debt is approximately 2,582 each year.
Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to 4,398 per average UK adult at the end of November 2010.
The Office for Budget Responsibility (OBR) predicts that household debt will be 1,823bn by end 2015 which is a growth of 159m a day. This would take the average household debt to 72,341 per household.

Real Estate Note Deal How The Closing Works

As a qualified note finder, one of the top questions in the note business I get from customers is this…

What happens at the closing of my real estate note sale?

The funny part is that in my position, I have never dealt with the closing of a real estate note deal. My main job as a qualified note finder is to connect sellers with buyers. So, once the connection is made, I am out of the loop.

At this point, I started asking some questions, and doing some research. I couldn’t find one good article on how the closing is done for the transfer of a real estate note from one party to another. So, I asked some of the buyers, and this is what I found out.

This information should put your mind at ease, because it is a pretty simple process. There is not much work involved in the closing of a note. The hardest part is waiting for your check. Unfortunately, the closing does take a little bit of time.

Let’s break down the sale of a real estate note from beginning to end, so you can see clearly what is involved in a real estate note transfer of ownership. This will give you a good idea of what to expect, especially if you are thinking about selling your note.

First of all, you need a price quote. Qualified note finders give free quotes. I suggest you locate a finder when selling your real estate note. A qualified note finder has a wealth of information concerning notes, and understands the current market. Plus, a finder will save you valuable time and effort by finding you the right buyer who has the highest quote.

Next, you need to agree to the price quote. After your finder tracks down the buyer with the best quote, you have to make a decision. Do you take the lump sum of money now or do continue to deal with the headache of collecting that small monthly payment.

Once you decide to take the money and run, a contract is drawn up for you to sign that locks in the price quote. It is important to sign and return this contract as soon as possible, so the buyer can’t lower the price on you. The more prestigious buyers give a bit of time to decide without giving you any hassle. It is stated on the contract how much time you have to return it. I just wouldn’t mess around, when it comes to your money.

With the contract, you will receive a checklist of all necessary documents and information you will need to collect. The big ones are a copy of the secured instrument (mortgage, trust deed, land contract, etc.), a copy of the real estate note attached to the instrument, proof of fire insurance on the property, and copy of the payment record. Depending on the buyer there will be few more things you need, but those are main pieces of information and documentation. You send all the necessary documents and information you need to the buyer and the closing begins.

Now that the hard part is over, we can focus on how you get your check. The closing of the real estate note deal is pretty simple really. First, if hasn’t been done already, the credit of the payer on the property is checked. If the payer happens to have bad credit the buyer can default of the contract. It is my understanding that by federal law you can check the credit of the payer twice a year, and it is probably a good idea to check it before you get this far, so you are not wasting your time. Unless you know they have good credit, you should check it. If you would like the buyer to check the payer’s credit, the buyers I work with will do it for you for free.

Now, if the payer’s credit is up to par, then an appraisal is done on the property. After the appraisal is complete, and the property value meets the buyer’s standards, title of ownership is transferred. Finally, you get your check, and walk away from that small monthly payment with a nice lump sum of money.

We work with buyers that pay all closing costs and fees.

For more information contact Money Now for Cash Flows: www.moneynowforcashflows.com/contact

For more articles about the real estate note business check out our blog: www.moneynowforcashflows.com/blog

Considering Building A House Extension – Pros And Cons

House extensions can be a lot of work and money too. But they are generally cheaper to do than buying a new home. With a home extension, you can virtually simply add the specific part or space requirement lacking in your with fewer hassles. Nevertheless, the amount of work and money needed would also always depend on how much work you intend to be done in your house extensions. The simpler your house extension is, the faster and the cheaper it would be. Like any of the other building, house extensions must be planned and done by professionals though.
House Extension versus Buying a Bigger Home

People simply prefer doing a house extension with a belief that it is cheaper. But again, this would depend on the extent of the house extensions you require. The advantage of doing a house extension really is that paperwork is usually simpler and easier to accomplish. If you buy a new house, there would be many fees and paperwork to deal with. It would take more time before you can finally move into the new home. House extensions can be accomplished faster with the right contractor. This is even especially so if you need only a simple house extension anyway.

Personal Use versus Market Value

Again, you need to identify the purpose of the house extensions before actually starting. You dont really need to be choosy or to scrimp on budget when the main purpose of the house extension is to add a function or space in the house because the focus on such house extensions is you and your family who are going to benefit from the extension.
On the other hand, if the house extension is done for the purpose of increasing market value of the property you are looking to sell then you have to choose the house extensions that really add great marker value. After all, you need to choose the investments that come with the highest returns always.

Cost versus the Purpose of the Extension

Again, if the purpose of the house extension really is to increase the market value of the house you should mind your budget so as to get better returns to your investment. But then the value of house extensions for the purpose of improving the quality of living in your home is measured by the amount of convenience and enjoyment it brings. So, the answer as to whether the cost is worth it would depend on how important and how useful the addition is.

Time Constraints

The choice to build extensions is great if you are not in a hurry and the extension is not so big. If you are going to virtually another house, it would take too long to finish so its usually better to buy a bigger house instead. Still if for sentimental reasons you want to stay in your home, you would have to wait until the whole extension is accomplished.

On the other hand, if the extension is quite simple it would generally get done faster than having to deal with the paperwork and legality of buying a new home. So its quite practical to do the extension instead. Still, the choice is yours in the end. Its only better that you know your choices and you consider each so you can make the best choices.