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Salt Lake City Real Estate Blog

Salt Lake City Blog for Russian and English speaking community looking for real estate, legal and translating services and/or information

801-649-5883

801-649-5883
Marina Vialtsina

Thursday, February 3, 2011

FHA Property Flipping Waiver Extended

FHA has extended their Property Flipping Waiver from February 1,2011 to December 31, 2011.



what is FHA Property Flipping Waiver?



Effective for purchase contracts dated February 1, 2010 and after, Borrowers may use FHA-insured financing to purchase previously foreclosed properties WITHOUT the 90-day waiting period:

HUD-owned properties
Bank-owned properties
Properties resold through private sales


This will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities.



To protect FHA Borrowers against predatory practices of flipping where properties are quickly resold at inflated prices, this waiver is limited to sales meeting ALL of the following requirements:

All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction

Seller must hold title to the property

LLCs, corporations or trusts that are serving as sellers were established and are operated in accordance with applicable state and Federal Law

No pattern of previous flipping activity exists for the subject property, as evidenced by multiple title transfers (more than 2) in the last 12 months as indicated on the Appraisal report

Property was marketed openly and fairly via MLS, auction, For Sale by Owner or developer marketing (assignment of contract not permitted)

If the sales price of the property is 20% or more above the seller's acquisition cost:
Increase in value must be justified by supporting documentation and/or a second appraisal verifying seller has completed sufficient legitimate renovation, repair and rehab work to substantiate the increase in value or in cases where no work is performed, the appraiser provides an appropriate explanation of the increase in value since prior transfer

Second appraisal is always required if 100% increase in purchase price

Property inspection is required and MUST be provided to the purchaser before closing,

Borrower will be charged for the inspection

Non-FHA approved inspectors or 203 k consultants are allowed

At a minimum the inspection must include ALL of the following:
Property structure, including foundation, floor, ceiling, walls and roof
Exterior, including siding, doors, windows, appurtenant structures such as decks and balconies, walkways and driveways
Roofing, plumbing systems, electrical systems, heating and air conditioning systems

All interiors
All insulation and ventilation systems as well as fireplaces and solid fuel burning appliances

Inspector must not have any interest in the property or relationship with the seller and must not receive compensation for the inspection from any party other than the lender.

Inspector may not compensate anyone for the referral, may not receive any compensation for referring or recommending contactors to perform any repairs recommended, and may not be involved in performing any repairs recommended by the inspection

Monday, January 24, 2011

New Brokerage

Starting in February, I will not be with Service First Realty Group any more. My new brokerage is Keller Williams in Sugar House, SLC. What does it mean for my clients?

nothing.

I am still a full time agent, who simply changed brokers. The thing is agents must hold license with the broker, and therefore, agents share their profit with brokers. It was a financial decision for me.

Besides finances, I felt that Keller Williams is better technologically set up and provide good training. I will all benefit me providing a better serve to you.

Otherwise, my contact info is still the same.

Marina Vialtsina
801-649-5883
marinav30@yahoo.com

Wednesday, October 20, 2010

Fencing Project by A Bit Of Help



Interested in new fence, check the new fencing project A Bit of Help (handyman company - www.handymansaltlakecity.com) has just completed.

Interested, call Vladimir, he can do anything - 801-910-9580

Friday, October 8, 2010

A Bit Of Help's Latest Project - 801-910-9580




Check this new BBQ/Backyard Project A Bit of Help (Handyman Company)has just completed. They can truly do anything. Check their site on www.handymansaltlakecity.com or call at 801-910-9580

Wednesday, September 15, 2010

Salt Lake City Handyman Service at 801-910-9580

I highly recommend the service of A Bit Of Help - Handyman Company in Salt Lake City area. Any job is not too small or big - company is affordable, reliable, and high quality.

It can help you with electrical, plumbing, painting, landscaping, carpentry, tile/flooring, and anything else you have in mind to maintain or upgrade.

Give them a call at 801-910-9580

Thursday, June 24, 2010

Russian Document Center

www.RussianDocumentCenter.com

Русский Документательный Центр – центр услуг. Мы предоставляем честный и быстрый сервис в следующих областях – услуги нотариуса, по недвижимости, услуги переводчика, иммиграционные, криминальные (включая DUI), легальные услуги, услуги связанные с туризмом и другие. Наш офис находится в центре Солт Лэйк Сити, Юта, состоит из нескольких адвокатов, риэлтора и переводчиков. Мы в состоянии обслужить клиента в любой точки земли, и можем брать оплату через этот сайт. Надеимся, что страницы сайта вам помогут найти нужную информацию и на скорое сотрудничевство.



Russian Document Center is a service company providing honest and speedy services in following areas – notary, translating/interpreting, real estate, immigration, criminal (e.g. DUI), legal, travel, and other services. Our office is located in downtown of Salt Lake City, UT and consists of several attorneys, paralegals, notary and translators. We are capable of serving clients around the world because of our convenient way of accepting payments through this site. We hope you find all pages of the site helpful, and we are looking forward to assisting you.

Wednesday, June 16, 2010

New Website

We are about to finalize our website (Russian Document Center) which will consolidate all other online information about our services into one. We are now capable of providing service in following areas notary, translating/interpreting, real estate, immigration, criminal (e.g. DUI), legal, travel, and other services. And, soon will be able to accept payments online. Stay tuned.

Saturday, March 27, 2010

Document Service Center (Russian Version)

У некоторых клиентов возник или может возникнуть следующий вопрос, до сих пор можно ли ко мне обращать по вопросам недвижимости?...

Конечно, можно и нужно... наши услуги просто расширились...Вы, может быть, заметили что в списках бизнесов на форуме произошли изменения и упоминается о Russian Document Service Center

Чем занимается - Russian Document Service Center
10 West Broadway Suite 650 (Downtown of SLC) и 1714 South 1100 East (Sugar House) by appoitments only
801-649-5883

немного подробнее:

В городе открылся Russian Document Service Center
по адресу 10 West Broadway Suite 650 (Downtown of SLC) и 1714 South 1100 East (Sugar House) by appoitments only


в центре работает 5 адвокатов (в том числе говорящий на русском языке), 3 нотариуса/переводчика, и 2 паралигала. Офис говорит на русском, английском, испанском и французком языках (native speakers)

благодаря такому профессиональному штату, мы в состоянии предлагать следующие сервисы:


* легальные услуги - все роды услуг по вопросам иммиграции, контракты, вопросы по авариям, DUI, криминальные проблемы (воровство, убийства, драки), и многое другое

* услуги по недвижимости - лично я выполняю функции риэлтора, паралигала, и являюсь частичной владелицей центра


переводы - письменные - любые документы, тексты, и так же услуги нотариуса. устные - деловые встречи (выставки, конференции, переговоры, кынсультации, судебные слушания, телефонные разговоры, свадебные церемонии и другие ситуации)

* аккредитация дипломов

* оформление Российского гражданства

* оформление бизнес лицензий

* туристические услуги


Другими словами мы можем помочь во многом, а если лично не сможем, то наша репутация и знания других специалистов переведет вас в надежные руки...


Так как мы часто работаем вне офиса, то назначайте встречи по телефону - 801-649-5883

FREE Resources

Whether you have an agent or looking for one, please do not ever hesitate to request following types of information:

1. Comparable Analysis of the Property
(the one you are planning to purchase or sell)
2. Neighborhood Market Analysis
3. Legal Advice - Notary, Immigration or Criminal Attorney's Consultation
4. Contract Questions
5. Translation
6. And much more,

Just send me a quick e-mail explaining what you need, and I will reply within minutes!*

marinav30@yahoo.com