About Las Vegas' Centennial Hills

This is some more information on the new law that is now affect with regards to CIC Resale package.

I wrote about this previously Did you read the new MLS notice on NRS 116.4109 ? NEVADA LAW UPDATE: New Law changes for CIC (HOA) Resale Package..

but here it is directly from the Legal Byte go there to read more.

Below is an exerpt.

CIC Update and Refresher
By Deanne M. Rymarowicz, Esq.
GLVAR Legal Counsel

Effective immediately, when selling a home that is part of a common interest community (CIC), furnishing the resale package is "at the expense of the unit's owner." (See SB 253, Section 8.)

In other words, the seller is expressly and solely responsible for paying for the resale package.

There is absolutely no exception or exemption based on the identity of the seller (such as an asset manager) or the nature of the transaction (such as a short sale).

The clarification as to who pays for the resale package comes in SB 253 as put into effect on June 9, 2009 by virtue of a provision in AB 350. Each of these bills also added to the list of documents and information to be included in the resale package.

Finally, as a reminder, the foreclosure exemption in NRS 116.4101(2) does not apply to an REO transaction. That exemption deals only with the disposition from the borrower/homeowner back to the bank pursuant to foreclosure under NRS 107. Once the foreclosure takes place, the bank or asset manager is the unit's owner with all the same responsibilities as any other seller in a resale transaction.

All agents should stand firm with their clients and require that Nevada law is complied with in all transactions.

Here is an intereting article from the Nevada Business Magazine written by Bruce N. Willoughby

Here is the link on... How To Avoid Having A Mechanic's Lien Filed Against Your Property by Bruce N. Willoughby (Should open in a new window)

Whenever you have work done on your home, landscaping, putting a pool in etc.. get a lien waiver for the contractor. Read the above article for some great information on the subject.

UPDATE:: Of course to avoid a lien being placed you should of course pay the bill and once done make sure you have the proof you paid and get the lien waiver from the general contractor and any subcontractors who worked on the job. See comments below of examples of what can happen.

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This brochure answers frequently asked questions about what a seller needs to know about short sales.

This brochure is from the Greater Las Vegas Association of Realtors®

If you would like me to email you a copy just let me know. My Website

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If you are in the market to sell your Las Vegas home and are not working with a Realtor, call me. I would be happy to help you through the process of selling your home.

If you are in the market for a Las Vegas home and are not working with a Realtor, call me. I would be happy to help you through the process of buying a home.

Dawn Barrier
Century 21 Aadvantage Gold

(702) 812-4550

http://www.lasvegashothomes.com/

First Time Home Buyer Credit IRS INFO

Future Home Buyers Beware.....Make you Payments on Time!!! This is so important in today's market.

Are you thinking of buying a home in the Las Vegas, Nevada area in the next year?

Do you know your credit score? Do you know what your Credit Report says about you?

Have you been on time with all your payments in the past 12 months? This means ALL your obligations, auto loans, credit cards, rent, utilities, anything that is reported to the credit bureaus.

I am putting these questions out there to you to as these are some things you SHOULD know Before you start your home search. Start Preparing yourself now! Don't wait until the last minute to get your financial picture in order.

FHA guidelines have certain criteria for YOU the borrower to meet if you want to borrow money to buy a home and these guidelines are more strict than in times past.

I am bringing this up also because there are so many First Time Home Buyers that don't realize how important your credit score AND your payment history is to the lenders and FHA.

I recently have had several Future FHA 1st Time Home Buyers get UN-Approved for a home loan due to having LATES in the past 12 months. Which in turn brings down your credit score. Now, they will have to wait months, most likely a full 12 months since the last late in order to Pre-Qualify for a home loan. Sometimes if there is a letter of explanation that is reasonable to FHA they may still allow the loan to go thru, if it is maybe just one late and your credit score is above 600, BUT there is no guarantee.

Why chance it? START NOW! You can get your credit report for FREE...Go to..Visit www.annualcreditreport.com for a free, no-obligation copy of the report.

Now, your score is not free, but they give you the option of purchasing the score for a few bucks, I would say spend the extra money now to know what it says.

This will give you a head start before you call me or your lender. You will now exactly what your credit report says about you and if there are lates or misreporting, you can start to fix it.

Recent Blogs

1. 5 Recommendations for Navigating Today's Mortgage and Housing Markets

2. 10 Myths About Credit Scores Debunked, Las Vegas Nevada Home Buyers Get your FREE Credit Ck & Preapproval

3. Las Vegas Short Sale Help......Henderson Short Sale Help....Avoid Foreclosure...Selling your home

4. Agent Tips To Buying a REO - Foreclosure Home in Las Vegas by Dawn Barrier "Begin-Prequalify"

If you are in the market to sell your Las Vegas home and are not working with a Realtor, call me. I would be happy to help you through the process of selling your home.

If you are in the market for a Las Vegas home and are not working with a Realtor, call me. I would be happy to help you through the process of buying a home.

Dawn Barrier
Century 21 Aadvantage Gold
614 N. Rainbow Blvd
Las Vegas, Nv 89107

(702) 812-4550

Search my website below for homes..

http://www.lasvegashothomes.com/

First Time Home Buyer Credit IRS INFO