The Significance of Tax Lien Waivers

By dhinternational  /  June 1, 2011 / Comments Off on The Significance of Tax Lien Waivers
Tax Lien Waiver Form

Tax Lien Waiver Form

Many property owners seem to be caught in major legal problems over big redevelopments. Why? Well, it is because they don’t see the significance of tax lien waivers so they neglect having them signed by sub-contractors before the final payment. While contractors may tend to be on the site for a short time, it is still important to have them sign the tax lien waiver before the final payment is being released.

So why is it considered a need to have tax lien waivers signed? You have to realize that these tax lien waivers give you protection from having liens placed on your home or property due to neglect of paying the sub-contractors by your own general contractor. Though you may have proper documents to prove that you have already given your full payment to the general contractor for all the services being rendered, signed tax lien waivers are still considered major requirements.

As a reminder, before your release your full payment, have all your sub-contractors who have worked on your home or property signed these waivers.

The following are the important details that need to be filled upon on tax lien waivers:

·       Homeowner’s name

·       Contractor’s name, address, and telephone number

·       A complete description of work. It includes the final state of the house at the completion of the job and a listing of what materials that should be removed from the premises.

·       Work status

·       Signed and dated. The contractor should print and sign his name on both of your copies.

·       Witness signature. This is actually optional but it would be preferable to have this.

Things You Need To Know Before Purchasing Pre-Foreclosure Properties

By dhinternational  /  June 1, 2011 / Comments Off on Things You Need To Know Before Purchasing Pre-Foreclosure Properties
Need to Know Before Purchasing Pre-Foreclosure Properties

Need to Know Before Purchasing Pre-Foreclosure Properties

What are the things you need to know before purchasing pre-foreclosure properties? Number 1 on the list is that banks always go through the process where they take the owner’s property if he is not able to meet the monthly requirements or pay the monthly fees. In this stage, there is a specific time frame where the bank is not able to claim it yet and the owner still has the control over the property.

Now, what are the pros of buying a house that is in a pre-foreclosure state? Mostly, pre-foreclosed houses are within very reasonable price ranges and this is the one of the best reasons why a lot of investors choose to invest on them.

As an interested buyer, you can make sensible direct deals with the homeowner himself as it is not within the bank’s control yet. You can also negotiate properly with the homeowner, do research, and learn more about the property. Just always remember that with banks, you won’t be able to negotiate and you will not be able to persuade them to at least lower down the property’s price as they have already made their sale price. However, with direct negotiation with the property owner, both of you can make a beneficial agreement.

Before you go decide and purchase a pre-foreclosed property, it is always recommended to take time to research and investigate and look for the best pre-foreclosure listings in ads, local newspapers, and websites.

Tips to Finding the Best Pre-Foreclosure Deals

By dhinternational  /  June 1, 2011 / Comments Off on Tips to Finding the Best Pre-Foreclosure Deals
Pre-Foreclosure Deals

Pre-Foreclosure Deals

Did you know that finding the best pre-foreclosure deals is simple if you just know where to look? Yes, it is true; you can find useful listings in newspapers, ads, signs, and lawyers. You can also get pre-foreclosure listings in courthouses. You can also do research on files about the homeowners that are in default which is often published weekly or even daily. Try to go to your county’s courthouse and speak to the clerk of courts and ask where you can see foreclosure notices or public legal notices. Also try to go to the recorder’s office where legal actions are being recorded. Look for public notices that list homeowners who are in default and when you do find the listings, ask permission to make copies of these files.

These days, most newspapers have detailed information which includes websites of legal notices. Find owners of homes who are still within 90 days from auction, this will give you much time for short sale bank negotiations. Do remember that when you see legal notices in newspapers, act fast as auctions are often held in 3-5 weeks from then on. However, when you go to the courthouse or the recorder’s office, homeowners still have months before the auction happens.

You can also find pre-foreclosure leads through real estate agents. Try to ask them that if ever they do get to see a property that is over-leveraged, they ought to give you a call. You should treat real estate agents well so they will treat you good in return.

Another way is through giving out business cards and let people know that you buy distressed homes or properties. Hand them out to your neighbours, workmates, friends, colleagues, real estate agents, attorneys, and even your acquaintances.

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