Immobilien Vermieten

Because each home owner who protest their assessments, with a knowledge of how the property tax assessment system works, often receive $500 to $1000 tax savings, if not more annually on their property tax bill. Simply stated the property tax bill is calculated by multiplying the homeowner’s assessment times the local property tax rate and subtracting any tax deductions for which the individual home owner is eligible.

The property tax doctor can show you how to lower your assessment and thereby reduced your property tax bill! The property tax doctor is a former tax assessor who knows first hand how difficult it is for the average person to penetrate the tax assessor’s bureaucratic jungle comprised of arcane terms and practices. No government document does this for the home owner.

Just like going to a medical doctor’s office the first thing that you need to do is to gather the necessary information with which to do the paperwork. The primary sources for that information is the homeowner’s property record card obtained at the assessor’s office and comparable home sales. Most homeowners armed with one or both of these information items get their assessment reduced the majority of the time without going beyond their local tax assessor’s office.

Just as you ask your medical doctor informed questions to get some pain relief, so also you must ask your tax assessor (with the help of the property tax doctor) some informed questions in order to win some property tax relief. The best advice the property tax doctor can offer is to go to your local tax assessor’s office and check your property record card for mistakes of fact! Clerical errors and plain mistakes do occur during the valuation process. Here is a partial list of common mistakes you should check up on.

1. The dimensions of your home or the dimensions of your land are wrong.

2. Failure to note depreciation on adverse-onsite conditions or no depreciation or minimal deprecation shown for an older home.

3. The dimensions of your land are wrong.

4. Check all computations, whether or not you understand where the factors came from.

5. Failure to note depreciating off-site influences — a factory or landfill producing toxic fumes.

6. The quality of improvements are wrong — you have a stone not a macadam driveway, or — you have the low priced whirlpool tub not the big name expensive whirlpool tub.

7 Finished areas are listed incorrectly — basement is shown as finished and it is not.

8. The age of the home is listed incorrectly or the number of stories is wrong.

My father would not let the local tax assessor, who was also his best friend, go past the kitchen table at our farmhouse. My father was afraid he would see certain interior home improvements and he would increase our assessment. My father mistakenly believed that improvements he had made inside the farmhouse like a new bathroom sink, plaster repairs, wallpapering, new ceilings, new light fixtures would add to our assessed value. Likewise he put off making outside repairs until after the next revaluation because of fear of an increased assessment. Surprisingly, he was wrong. Outside repairs like roof replacement, repairing masonry, repair of porch, steps, stairs, etc. do not increase the homeowner’s assessment. Neither does replacing garage doors, or sheds, sidewalks, etc

Often establishing the proper combined property value for your home and the land under it is the key to your property tax appeal. To win your appeal the homeowner must establish his or her property’s value at a level lower than the one the assessor used.

To establish market value the homeowner can go to the web site http://www.zillow.com to get a rough estimate of the value of his home. The site uses some basic variables like square footage, number of baths, acreage and number of bedrooms to calculate a market value for the home based on a formula that is driven by other home sales in the neighborhood. Where zillow has the sales data this is a good first step to see if your home is assessed way too high.

In years after the revaluation year the homeowner should find out what the assessment to sales ratio for his or her taxing district is in New Jersey. This ratio is announced each year and is available from the local tax assessor’s office. It represents the average at which the assessed value for all properties that sold in the past year was compared to their sales value in the municipality. Why is it important? It may provides a key factor in proving that you have received an unequal assessment and are entitled to file a discrimination challenge to your property assessment to win a tax reduction.

An unequal assessment is one made at a higher proportion of market value than an average of the other parcels on the roll. A year or so after a revaluation housing inflation often makes the assessment your tax assessor placed on your home look low compared to sales prices of comparable sold homes in your neighborhood. But watch out!

A low assessment to sale ratio in a municipality can fool some taxpayers into thinking that they are being assessed below market value and are therefore getting a break. However, if all assessments are set below market value then the tax rate must be increased in order to collect the necessary amount of tax revenue. The same amount of tax is collected, but the taxpayers are fooled into thinking they’ve gotten a break and do not search for malassessments.

Now, do not forget that the assessment to sales ratio (or common level ratio) is a key factor in getting you property tax relief. Let me explain. An important test for fairness of your assessment is not just its relationship to market value. It is also whether or not it is fair in relation to assessments on other properties in your town. For example, if you have a home with a market value of $800,000, but it is assessed at $600,000, you may think you are getting off cheaply. However, if your neighbor’s house which is comparable to yours is assessed at only $200,000, you are paying three times as much real property tax as you should!

When your property is under appeal the County Board of Taxation can adjust your home’s value to the common level. The taxpayer should know the average ratio in the municipality where the property under appeal is located before filing a tax appeal. Remember the ratio changes annually on October 1, for use in the subsequent tax year. Also, remember this adjustment to the common level is not used in the year of revaluation or reassessment when all properties have been brought to 100% of market value.

Once the County Tax Board determines the true market value of a property they are required to automatically compare that true market value to its assessment value. If the ratio of the assessment to the true value exceeds the average ratio by 15%, then the assessment is automatically reduced to the common level. The homeowner gets his property tax relief. But watch out! If the assessment to true value ratio falls below the common level, the County Tax Board is obligated to increase the assessment to the common level. The homeowner would then get his property tax increased. If the assessment falls within the common level range no adjustment is made.

Each year on October 1 of the pre-tax year the assessor establishes a value for each of the properties in the municipality for the following tax year. The annual assessment value is considered tentative during the period of public inspection of the new tax list from January 1 to January 10th. The purposes of the inspection period is to enable the taxpayer to ascertain what assessments have been made against him or her and to confer informally with the assessor as to the correctness of the assessments.

At this point your approach can be informal and will not require a formal, written appeal. Taxpayers have an opportunity only once each year to file a formal property tax appeal. Get your tax form for property tax appeal purposes from your County Board of Taxation web site. Generally, it must be received by the County Board of Taxation on or before April 1 of the tax year. If the taxpayer misses the deadline for filing a formal appeal the taxpayer must wait until the following year to make a challenge for any tax relief.

The Property Tax Doctor can help the average homeowner win his rightful property tax relief. Under the common level adjustment, described above, the New Jersey’s statutory standard for an acceptable property tax assessment margin of error in its calculation is 15%. In New Jersey where the average homeowner in 2006 paid about $5,000 per year in property taxes that amounts to an acceptable error of $750 in the propertytax bill. If we administered our Federal Tax bill with that 15% margin of error we would have a taxpayer revolt.

Gerald Dowgin © 2006

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Gerald Dowgin

Tips & Tricks For Photographing an Exterior BPO

1. Order of operations

Generally, you should complete the report portion of the exterior Broker Price Opinion after taking photographs of the home. Implementation of this method will result in a more accurate as-is value if you personally observe the home and neighborhood prior to performing the report. In addition, the inspection will also be fresh in your memory.

2. Avoid confrontation

The bank may have ordered a BPO on an occupied property but the people are most likely unaware that you will be taking pictures of their house. Any typical homeowner or renter would get suspicious if they notice you taking pictures. To minimize confrontation, you should be discreet and stay in the vehicle unless approached. If this doesn’t remain an option, the best thing for you to do is simply explain who you are and what you are doing to ease any concern. If you ever feel you are in a threatening situation, leave the property immediately.

3. Carry business cards

It is impossible to perform every exterior BPO without confrontation from curious onlookers. It’s simply going to happen. The business card works like a get out of jail free card. If you hand it to them while you explain you’re performing an exterior BPO for the bank that’s usually the beginning and end of the conversation. Most homeowners don’t have a clue what an exterior BPO is anyway.

4. Purchase a quality camera

A camera or smartphone which features at least 30x zoom (3x optical and 10x digital) should be optimal. This will enable you to zoom in on a home address. Any houses that are set on a deep lot will be easier to photograph as well. If the photo is too small or unclear, the valuation company will request a new photo be taken at your time and expense. Save yourself the hassle.

5. Do not take pictures of people

Valuation firms consider this unprofessional and will request new photos or Photoshop editing. People in the picture could present racial/religious/gender bias when determining home values, which is illegal.

6. Take note of visible damages

Boarded windows, outdated roofing, and peeling paint are a few examples. An exterior BPO can normally pass quality controls without needing to identify repairs. However, the lender will want to see the report reflect what is visible in the pictures. Repairs will ultimately affect the as-is value of the exterior BPO so they should be added when necessary.

7. Selecting comparables

To perform an exterior BPO report you must search for six comparable homes (comps) in the immediate area of the subject. Three comps must be sale comps; the other three must be listing comps. The selection of comps is determined using a variety of similarities to the subject property. These similarities may include size, age, and location to name a few. Price is the one statistic not taken into consideration when choosing comps. Predetermining a value is not wise since it would create a biased report.

Following these easy steps will help you go from a Broker Price Opinion amateur to expert in no time.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by John Gattinger

Have you ever felt that a home just didn’t feel good? Or that it had bad vibes? Sometimes the signs of good and bad Feng Shui are not so obvious. The following outlines what makes for good and bad Feng Shui in a home. You can use these as a general guideline when shopping for a home.

Even when it comes to Feng Shui, it’s still location, location, location. Why? Because you can’t change it! You can change price and condition but not location. SO that is where we will start:

1. Preowned? Good Feng Shui if the previous owners are moving to a bigger house, job promotion and are moving away or won the lottery – this would all be good energy.

2. Lot: wider in the back or square is good Feng Shui. Reverse pie lots are not. Square or rectangular shaped lots are considered ideal.

3. Cul-de-sac: be sure not to be at the T intersection of the cul-de-sac to the road – this considered bad Feng Shui. You will end up getting the glare of headlights into the front of your house in the evenings.

4. Fire Hydrants: can’t have those in front of the house: bad Feng Shui as it represents your wealth being ‚washed‘ away.

5. Bedrooms: should not be located over the garage, kitchen or laundry room. In addition beds should not share a common wall with a toilet. Master bedrooms should ideally be north facing and the bed should back onto the south wall facing north. In addition there should be no mirrors across or beside the bed.

6. No bathrooms over a dining room or kitchen. (This would seem obvious – no leaking toilets over my Turkey dinner!)

7. Home office: should be in the southeast portion of the home. Morning sun brings good energy and the south sun provides daytime sunshine to keep you energized throughout the day.

8. Homes facing south and backing north are ideal.

9. The flow of the home is important. The front door should not open up directly to the up or down stairwells. Nor should the front door ’see‘ the back door (have direct line from front door to back door). This allows the chi or energy to walk right on through the back door. The energy should be allowed to meander back and forth throughout the home. You also do not want to see the fireplace from the front door.

10. The kitchen, nor the stove should be in the centre of the home. Nor should the kitchen face a toilet door (bathroom). This door should be closed at all times.

11. Office desks should back onto a solid wall – not a window. Nor should a desk or bed face an angled wall.

12. Living too close to a cemetery brings grief into the air – not a good thing.

Feng Shui’s aim is to balance to all aspects of our lives by creating an environment that has good chi or energy. You can do this by firstly looking for a home that fits the locational aspects. The interior of the home can always be changed. But the more you know up front about good energy – or Feng SHui the sooner you will be able to recognize it in your next home.

Happy House Hunting!

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Jennifer Perdicaris Kennedy

Houston, the 4th largest city in the United States, has numerous apartment homes for anyone wanting to lease. One question that many people ask, especially in this type of economy we’re in, is how one can be approved for an apartment without necessarily showing proof of income. For many complexes in the sprawling city, having a job is a major prerequisite to being approved. Not only does one need to have solid employment, but one needs to be earning enough to afford the monthly rent. Those who are jobless are therefore at a major disadvantage when it comes to being approved. But is there a way to actually get approved in Houston even without a job?

A few places where you can rent without a job

• Westchase District
• The Heights
• Mission Bend
• Katy
• Alief

Navigating joblessness when applying

We have seen that in Houston, renting an apartment involves being able to prove both income and employment. Many apartments actually go to the pain of verifying and this is usually done by a simply phone call to an 800-number or asking for original paycheck stubs or tax returns. Unfortunately in this economy, there is a sizeable chunk of apartment applicants who are without gainful employment.

One of the best ways to get approved for an apartment if you are indeed jobless is to have a co-signer. This is someone in good standing in the community who can attest that they know you and are willing to vouch for your authenticity. Some apartments will approve on the strength of this alone but some will insist on additional information.

Another layer of qualifiers that you can possibly provide is a list of your assets. If you own any property that brings in income, for instance, a rental property, you can show this as proof of income. Some apartments will take this in addition to having a co-signer.

A last and final step you can take to get approved in Houston without a job is to offer to pay a deposit. In addition to a deposit, one can also offer to pay 3 months of rent in advance and also show that they are actively looking for a job. This gives the leasing management the impression that the tenant will find gainful employment soon.

Remember that even after providing all this information, it is still the apartment’s discretion to rent to you or not. Some might also conduct credit checks and background checks to make a determination.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Jimmy Jamm

The swing arm in a Heidelberg GTO offset printing machine may need to be taken out for adjustments or replacement of parts from time to time. Removing it need not be as dreaded as sometimes happens. In my years of experience with Heidelberg GTO machines, I have come across many experts who get uncomfortable whenever such a task is to be performed for adjustments or replacement of parts. This is because the process is very sensitive and affects colour registration. This activity should take less than 1 hour.

I will assume that the degree wheel and zero gauge, though necessary, are not available for this exercise. Crank the machine to the position where the swing arm is about midway between the feed board and the impression cylinder. Mark the position of the arm on the shaft clearly using a center punch or any other means that cannot easily come off. Make sure the marks are clearly visible both on the shaft and on the surface of the swing arm. It will be returned and clamped to this exact position when being fitted back to maintain the timing of paper transfer between the feed table and the impression cylinder. The three 10MM screws securing the arm to the shaft can then be loosened. It is important and safe to switch off the machine at this point.

Remove the machine guards on both operator and drive sides. On the operator side, the swing arm shaft bearing is secured by a set of three 5MM screws on the machine side frame and a chain mechanism attached to an end piece. The end piece holds the torsion rod that gives the swing arm tension to swing during its operation. Carefully and clearly mark the position of the clamping piece on the shaft. To release the tension, loosen the 5mm screw on the clamping piece. The tension will be released and the arm will be completely free. Remove the three 5MM screws securing the shaft bearing and slide off the end piece. The torsion rod is attached to this end piece and should come out of the shaft together with the end piece.

On the operator side, the swing shaft is attached to a lever and locked with three 5MM screws on to the machine side frame. Carefully remove the 3 screws and detach the lower end of the lever by removing the clip locking it after removing the oil tube. The shaft should now swing freely on its bearings on the side frame together with the lever. With the shaft now free on both operator and drive sides, it can be pulled off the machine on the drive side. Ensure that there is enough space between the machine and the nearest obstacle on the drive side. You may need to turn the machine manually if the cam on the drive side is has blocked the lever attached to the swing arm shaft. Pull the shaft and the lever all the way out of the machine, leaving the swing arm in position. The swing arm can then be easily removed from the machine from the front. For the shaft to slide off and come out easily, it has to be very clean and well lubricated. The swing arm can then be easily worked on out of the machine.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by James L Oloo

The leasing of a shopping mall is a specific strategy relative to the location, the property type, the customer demographic, and the landlord. All factors come together to contribute towards a successful leasing outcome and tenancy mix.

It should be said that a successful leasing strategy will contribute towards the greater the benefit of the property. More customers will be encouraged to visit the property and purchase goods or services. On that basis retail leasing is quite special.

Here are some tips to help you with leasing a retail mall in today’s property market:

1. Understand the vacancy factors that apply to the precinct or location. An excessive number of vacant tenancies will have an impact on market rentals and incentives. Check out the factors of supply and demand that apply within the region. Look for any new property developments that could have an impact on tenant movement and market rentals.
2. Understand the types of incentives that can be offered by the landlord to attract tenants. Also understand the requirements of tenants when it comes to incentives in today’s market. Any vacancy that you have available for lease needs to be matched to the prevailing market conditions. That will include the rental types, and the incentives offered. The landlord needs to adjust to the prevailing market conditions. Get some details of comparable rentals and other properties nearby to help the landlord understand the packaging of their vacant tenancy.
3. It should be said that a lease incentive cost should be recovered through the rental structure over the lease term. In other words, any money that is lost or offset in the incentive availability should be recovered by rental growth and escalation across the lease term. You can do this calculation through an assumption of market rentals and a discount cash flow calculation. The net present value of the deal can be compared across the duration of the lease.
4. Successful leasing executives usually have a substantial database of retail tenants to contact. Any new leasing opportunity can be offered through the database to targeted tenants, anchor tenants, retail specialists, franchise groups, and other industry professionals. Any vacancy can be directly marketed to these groups through cold calling, direct contact, e-mail marketing, and direct mail.
5. It is acceptable and normal to market a vacant tenancy through the generic media. That will involve newspaper advertising, and Internet listing. There are costs associated with that marketing activity and the landlord should contribute towards those costs.
6. Most successful leasing transactions occur through the involvement of the leasing executive and direct marketing to the right people. I go back to the point that the database for each broker or agent is quite important to converting more commissions and listings.

It should be noted that any quality property in a good location will create good inbound enquiries. If you are selective with your property appointments and vacant tenancies, you will create more churn and activity in property leasing.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by John Highman

Financial distress may force a homeowner to sell his property. But there are also times when it is foreclosed by the financial institution to which the property is mortgaged. Yet, the redemption period still gives an opportunity to reown the house. However, there are risks which should be considered in order to take advantage of the stipulated time.

First, the redemption period is time-constrained. This means that the homeowner will be given a short period to reown the house after the buyer or the third-party has filed the necessary paperwork to the court. After such period, the chance to regain ownership of the house will be forfeited.

The second risk is associated with the price to regain ownership. Normally, the price tag isn’t all that should be shouldered as there are also mortgage overdue, taxes, and documentation costs. All of these should be paid within the period allotted.

Third, there are personal risks such as the capacity of the owner to raise huge amount of money to cover the necessary expenses to reown what used to be under his namesake. During the financial distress, there might be other expenses that arose such as unpaid utility bills, credit charges, and school fees. These can come on top of regular costs of daily food and travel.

There can also be associated risks that can pop up from the situation such as when relocation is an option until such time that the house is reowned. If moving out is the top choice, then there can again be expenses that could eat up the amount trying to be earned for the redemption. But there are circumstances when the third party would still allow the owner to dwell until it is redeemed or until the redemption expires.

The redemption period is like a last ticket to a must-see movie. But unlike movies which can possibly be streamed on the internet, reownership of a house is tricky. It concerns effort, time, and money. These three needs to be combined seriously along with the right mixture of perseverance in order for the redemption period to be a fruitful endeavor towards repossession of the property where memories and moments are shared and created.

If you are currently under a redemption period and you’re quite unsure of the steps to take, your friendly local real estate agent is just a call away. He will be more than happy to guide you step-by-step and will even give you advices on the situation.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Desare A Kohn-Laski

Before getting into the explanation of an inactive agent and an active agent we will begin with a short summary of how the real estate Brokerage system works in Ontario. We will refrain from getting into too much detail and thus the following will be a very simplified version.

In Ontario we have a Brokerage governing board called R.E.C.O. or the Real Estate Council of Ontario. A Brokerage is registered with R.E.C.O., pays its fees and dues which include errors and omissions insurance and is then ready to trade in real estate in the Province of Ontario only. The Owner/Broker may work alone as a single entity or invite licensed real estate salespeople and Brokers to join his or her Brokerage Firm and trade in real estate on behalf of the Brokerage.

A real estate Brokerage in Ontario may apply to become a member of its local real estate board. If accepted, the Brokerage will pay the board fees and dues which may include fees and dues applicable to the Ontario Real Estate Association and the Canadian Real Estate Association. If this option is taken by the Brokerage, then all the registered realty agents with this Brokerage must also become members and pay their applicable fees and dues to the said board and associations. In very rare cases, the Brokerage will cover these fees and dues for selected agents. The difference between being a board member or not is, the board members will have the privilege of all the services available to them from the board and associations including the multiple listing service which has proved invaluable to the real estate full timer and professional.

So, what is an inactive real estate agent? Simply put, an inactive agent in Ontario is one who is licensed under R.E.C.O. and for whatever reason has decided that he or she will not be trading in real estate and has not been doing so for a specified amount of time. There are still many agents in Ontario who remain with their current Brokerage and if that Brokerage is a board member, then even though an agent is inactive, he or she may still be paying fees and dues. Fees and dues may also include their Brokerage monthly fees, desk fees, franchise fees and other expenses. Since this is obviously a big waste of money these inactive agents will seek other Brokerages that will allow them to park their license without the wasted expenses.

Here are some of the terms used when referring to a Brokerage that will accept inactive real estate agents in Ontario. „Park your license“, „warehouse my license“, „hang my license“, „hold your license“, „real estate license holding company or Brokerage“, just to name a few.

A real estate agent who decides to park their license will still have some fees to pay but the difference will save them hundreds if not thousands of dollars yearly. Some of the fees will be to R.E.C.O. like their license registration fees due every 2 years and the errors and omissions insurance will still apply. In Ontario, they must earn 24 credits in their continuing education requirements as well and these credits are due on renewal.

What about the real estate Brokerage that provides the license holding services? Here the agent must do their due diligence. Seek out a trusted and proven Brokerage Office who is not a member of any real estate board. Ask for the highest commission split available to you in the event you do sell a property or 2 or if you refer sales out to other Brokerages or agents you may know. Even though your license is on Park, and you are inactive, your license in good standing is still active. Make sure you do not pay any ridiculous desk fees, extra monthly fees, franchise fees etc. Having said that, there most likely will be a small membership fee applicable for their services. Shop around for the best deal but remember to keep the experienced Brokerage that park or holds licenses a priority to you.

Inactive then, refers to the actual agent who is not active in the day to day trading of realty properties. As long as the license is registered with the Real Estate Council of Ontario and remains in good standing, your real estate license is „active“. If you decide, as an agent, to become inactive, you now have a wonderful and money saving choice to transfer and join an Ontario Brokerage that you can park your license with. This Brokerage will hold your license and this will allow you the opportunity to keep your license active so it does not fall by the wayside and lapse or be terminated.

I shudder to think about if I had to go over the process and expense of getting my Realtor license all over again..yuk! If you now have this valuable asset and are thinking of becoming inactive for whatever reason, think hard about keeping your license active because you never know how valuable this asset will be for you in the future. Hang it, park it, warehouse it, hold it, keep it active! Good luck.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Bruno Francis Cristini

Buying a home is a big step in your life and should be a very exciting time. Unfortunately, many individuals rush into buying a home with out considering the implications is has on their future. If you’re considering making the move to own it’s important you weigh all the options, and consider what if anything will affect the feasibility of you’re purchase. If this is you’re first time in the housing market consider the following before you make your big move.

1. Get Your Finances in Order

   Have a lot of debt racked up? If thats the case, you may want to play catch up before you even think about buying a home. Bad credit is bad news for those who want a buy a new home. In most cases you will need to get a mortgage before you buy and this means your credit will be under scrutiny. Start getting acquainted with your credit score and begin fix the problems well before you apply for a mortgage.

2. Think about the Future

   If you have a job or other obligation that may require you to move or travel for extended periods of time you want to think twice about rushing into the housing market. Buying a house is a commitment that will tie you down to a particular location for at least a few years. It’s not easy or economically feasible to pack up and sell your home at the drop of a hat.

3. Educate Your Self

   As a first time home buyer one of the worst thing you can do is go into the market unprepared. Familiarizing your self with words and phrases that are used will allow you to better comprehend the market. A better understanding of the home buying process will enable you to make a well educated decision when it comes to you’re final purchase. Entering the market blindly can turn you’re home buying dreams into a nightmare.

4. Be Rational

   We all want to live in the home of our dreams. Unfortunately, like most things in life, the housing market must be approached from the bottom up? Renting is the start of the home owners journey. With your dream home serving as the final destination you will most likely need to take a few stops on the way there. The logical step is to buy a house you can afford not one that lands you in economic turmoil. Consider your first home an investment that you can improve upon over time. Once the home is improved you can sell it and bring yourself one step closer to your dream home. Buying out of your league can be a huge problem so set a budget and find a home within your means.

5. Ask For Help

   Don’t be determined to have a go at it alone. Buying a home is a complicated process and sometimes it really helps to have someone walk you through it step by step. Agents are more than willing to help you look through home listing, find what your looking for, and ultimately take you from start to finish.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Jennifer Wasilewski

First-Time Home Buyers Assistance

Florida Housing is a State Financing Corporation created over 20 years ago to help Floridians obtain safe, decent housing that might otherwise be unavailable to them. Their „First-Time“ Homebuyer Program provides low interest mortgage loans and financial incentives throughout the year, for eligible homebuyers who haven’t owned a home as a primary residence within the past 3 years.

Program Highlights

The program offers low-interest 30 and 40 year fixed-rate loans, downpayment and closing costs assistance as well as access to credit counseling.

Teachers, firefighters, healthcare workers, police officers, as well as active duty and veteran military personnel could be eligible for lower interest rates.

Eligible applicants include individuals who:

 have never owned a home,

 don’t claim their mobile home as real property,

 haven’t owned a home as their primary residence within the past three years,

 have established credit worthiness,

 have an annual income that does not exceed program limits.

Downpayment Assistance

Florida Housing offers two downpayment and closing cost assistance programs in the form of second mortgage loans, and one in the form of an upfront cash assistance to help eligible homebuyers cover their downpayment and closing costs.

Downpayment Assistance

Programs: Offers Up To:

(Income limits apply)

FLORIDA ASSIST PROGRAM $10,000- Applicants with annual income at or below 80% Area Median Income

ASSISTANCE FOR MODERATE INCOME (HAMI) $5,000-Applicants with moderate income

The City of Orlando offers a Downpayment Assistance Program, available to low and moderate income first-time homebuyers for the purchase of a home within the City limits of Orlando. Depending on the gross household income, assistance may be $10,000, $20,000 or $30,000.

Teachers and public safety personnel, who are moderate income, may qualify for $20,000 of assistance. City of Orlando employees, teachers, and public safety personnel who are purchasing homes within the city limits of Orlando do not have to be first time homebuyers. Purchasers must occupy the property as a principal residence for at least ten (10) years. The downpayment assistance becomes a grant once the period of affordability has been satisfied.

Orange County provides funds to qualified first time homebuyers for down payment and closing costs associated with purchasing a home. The program provides assistance to qualified low and moderate income persons in Orange County on a first come, first ready basis. The program also requires that potential homebuyers complete a pre-purchase and post-purchase education program.

The buyer must:

 Meet the income requirements. Annual household income cannot exceed 120% of the area median income.

 Provide at least $1,000 of their own funds.

 Complete a home buyer’s education seminar.

 Secure first mortgage financing.

The property must:

 Be new or existing and located in Orange County, outside the city limits of Orlando.

 Not exceed a sales price of $219,000.

 Receive competitive fixed rate financing.

 Be fee simple ownership.

The assistance:

 Maximum ranges from $20,000 to $35,000 depending on household income.

 The County’s assistance is provided to the buyer’s closing agent at closing in the form of a soft second mortgage at 0% interest which is forgiven after fifteen (15) years if the home remains owner-occupied.

 In addition, the total first mortgage and Orange County’s second mortgage may not exceed 105% of appraised value.

Home Buyer’s Education Program

All participants requesting down payment assistance must attend a free Homeowners Education workshop. This provides education and technical services to assist eligible low and moderate income families in the process and procedure connected with the purchase of an affordable single family fee-simple housing unit. Homebuyers Education addresses such topics as choosing a realtor, qualifying for a mortgage, inspecting a house, contracts for sale, home maintenance and credit issues.

The Orange County Finance Authority is a government organization that provides mortgage financing with lower interest rates than what is available in the market. Their financing products reduce long-term mortgage costs. Plus, if eligible, you may obtain additional down payment/closing cost assistance from other sources along with this financing!

In order to qualify for home financing, certain eligibility requirements must be met:

 You have not had an ownership interest in a primary residence during the previous three years. (Unless the property is located in a federally designated „Targeted Area“.)

 Property must be owner-occupied for the term of the loan or until the property is sold.

 Have the legal right to permanently reside in the United States

 Meet credit and loan requirements

 Do not exceed the income & purchase price limit

 Veterans can waive First-Time Homebuyer Rule

City of Kissimmee Community Redevelopment Agency offers financial grants to new homeowners within the Community Redevelopment Agency district (CRA), in order to provide economic support to the downtown businesses. It is designed to attract new residents to targeted areas within the Community Redevelopment district. There will be no income limitations placed on the granting of these funds.

Funding will be granted based on establishment of owner occupancy of the subject property. The grants will be given on a first come, first served basis after certain qualifications have been met.

The agency offers financial grants to eligible employees of employers in the CRA Overlay District on a first come, first served basis to be used towards the purchase of a home. Plus, there are incentives for Teachers to be used towards the purchase of a home in the CRA Overlay District on a first come, first served basis.

Osceola County provides funds to qualified first time homebuyers for downpayment, closing costs associated with purchasing a home, and financing with lower interest rates than what is available in the market. The program provides assistance to qualified low and moderate income persons in Osceola County on a first come, first ready basis. The program also requires that potential homebuyers complete an education program.

The buyer must:

 Not have owned a home in the last three years.

 Attend a Home Buyers Orientation Session and complete a Home Buyers Education Program.

 Have a minimum of $1,000 to contribute toward the costs of buying a home.

 Have an annual income that falls within the area median income guidelines as defined by the U.S. Department of Housing and Urban Development. Additional terms may apply.

The property must:

 Must be located in Osceola County.

 New home or existing homes must not exceed $200,000. If within the City of Kissimmee homes must not exceed $240,000.

 No mobile homes.

 Manufactured homes must have DCA insignia seal.

 Must be a single family home, condominium, town home or villa.

The assistance:

 Maximum ranges from $39,000 to $69,000 depending on household income.

 The Loan is provided to the buyer’s closing agent at closing in the form of a soft second mortgage which is forgiven after ten (10) years if the home remains owner-occupied.

Repayment of the loan becomes due if:

 Borrower defaults on the first mortgage.

 The house is sold refinanced with equity cashed out.

 The house is rented, leased, subleased or ceases to be owner-occupied prior to the end of the loan period.

 No Home Equity Line of Credit borrowed against the property.

Home Buyer’s Education Program

All participants requesting down payment assistance must attend a free Homeowners Education workshop. This provides education and technical services to assist eligible low and moderate income families in the process and procedure connected with the purchase of an affordable single family fee-simple housing unit. Homebuyers Education addresses such topics as choosing a realtor, qualifying for a mortgage, inspecting a house, contracts for sale, home maintenance and credit issues.

SHIP Program (State Housing Initiative Partnership)

The State Housing Initiatives Partnership (SHIP) Program provides funds to produce and preserve affordable housing through the creation of a partnership between the public and private sectors. The funds are derived from the collection of documentary stamp tax revenues, which are deposited into the Local Government Housing Trust Fund. Based on a population-based formula, SHIP funds are distributed to local governments each month.

These funds are available to Home Buyers through the Downpayment Assistance programs above.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Devinee Peraza