Selling Your House May Be Better Than You Hoped, Maybe Not

Now to start getting things together for the sale of our house, we are going to need quite a few things. In order to be ready to deal you will need an offer to purchase real estate form.

Then you are going to need a receipt book for a deposit in case someone gives you a deposit. Most of the time it is better to have them give you a check and you hold onto it until both parties are sure the deal will fly.

You will then need a blank agreement for deed, in case your buyer comes back and consummates the deal. By having all the stuff you may need to complete the deal, you know you are ready to go if the time comes.

When you do a deal you have to write out exactly all the terms, including the payments. In general you will need to spell out everything both you and the buyer can think and write it down. When this is done then you do not have to worry about misunderstandings.

Each party knows and understands what is expected of the other, and on occasion you will still have an item or two that is left out. You need to try to get it all to where there should not be any wiggle room at the last moment before finalizing the deal.

What you need to do being the seller, and at a time when your buyer has all his funds together you both need to have a written understanding as to when you will give up possession of the property to the buyer.

When the buyer has his funds together and is ready to go then the parties that need to sign can go to the bank and do the signing before a notary. The buyer must have cash or certified funds, nothing less. You are ready to go when this is completed.

Visit the Jimmy Woodall Site and get your FREE EBOOK "Selling Your House IN these Worst Of Markets" This book can and will help you a great deal, so just go there now and get your Free copy.

Common Law Marriages and the Estate Process

Question:
I'm a female living in Massachusetts. I've lived with my partner (male) for twenty five years. I've wanted to get married all this time but he doesn't believe in it. He wrote a will and had it notarized five years ago by one of the accountants at work who was a notary public leaving everything to me if something were to happen to him. (house, 401k, mutual funds, life insurance, etc.) Is this a legal document?
Thank you
Answer:
Is it a "Legal" document?
Well, certainly it is not illegal to draft a will.
Does it Follow a Legal Standard?
The legal standard for a "Will" is not very high so even without reading it, I can say the it would probably be a accepted as a Will in Massachusetts.
Will it hold up? which I think it really your question.
To that I'd have to say the jury is still out. Literally. You see; A Will, is only a list of suggestions to the Probate Court. Whether there was a will or not, if he were to die, his estate will go through Probate (proving the will). If he dies without a will the probate court has a standard hierarchy of distribution: It all goes to the surviving spouse, if there is no surviving spouse then it goes to the kids, if there are no kids it goes to the parents, if there are no parents it goes to siblings, if no siblings, then nieces and nephews, etc. And most people's Wills follow that same logic, so the vast majority slide through the Probate court as stated in the will. And if you lived in almost any other state than Massachusetts you'd have no worries since you'd already be considered married under the common law.
But you knew all that. Now if you moved to an adjoining state for a few years, then you would be on the road to more solid footing, but that is a whole lot of hassle for what really is very little potential benefit.
So what happens if the will does not follow prescribed standards of distribution? Then the personality of the court plays heavy, as does any opposition. If anyone "contests" the will the probate court would have to consider the points of objection. Either dismiss them as having no merit, or compromise something they think is fair, or throw out the will all together and go back to "no spouse, give it to the kids; if no kids, give it to the parents;...
If you wanted to avoid the probate process then a Living trust would be a better option.
If you haven't been to a living trust seminar, It is a great way to get a free meal. Don't buy. No-one can do a good living trust for you.
The only person that can do a good living trust for you is...
You expected me to say that I could, huh?
The only person that can do a good living trust for you is. . . YOU.
To make it a good living trust you have to fund it. that means transfer assets, including bank accounts. Well, I can't transfer them, your estate planner can't transfer them, nor can your attorney, in fact no one but you even knows what the assets are.
AND to make it a good living trust, it has change over time, and you are the only one that knows how it needs to change.
Get a book, or two, do some research, go to a few living trust seminars.
Find out what you can truly expect from it. then write your own.
Don't be scared, there is not requirement to use Latin or Olde English. It needs to be understandable, and judging from your writing abilities that I've already seen, you are capable. A kit is a fine starting point.
Remember, you can always change it, you're not writing it in stone.

Brief History of Venetian Murano Glass

Until now it was not possible to determine precisely when the Venetian glass industry had its origins. One possible speculation linked its first manifestations to transfer into those islands of the Venetians who had lived in Roman flourishing centers of the Adriatic coast, from Adria to Altino, and that there had learned the techniques of Roman glassworking. 982 goes back to a document signed by a certain Domenico, as attested by the notary, had practiced as "fiolario", ie the production of blown glass cables, particularly bottles, in fact, called "fiole".
The only evidence of the archaic phase of Venetian glass comes from fragments found in 1961-62, along with the remains of a furnace, especially in the excavations carried out in the main square of Torcello and Murano glass fragments recovered from the subsoil (S. Donato) as well as in the waters of the lagoon.
More recently, between 1992 and 1993, excavations in Piazza Malamocco, a small town of Lido, brought to light, along with fragments of pottery dating certainly from the late fourteenth and early fifteenth century, two glasses trunk cone and a long-neck bottle.
The art received a boost during the centuries XII-XIV, from contacts with the East, particularly with Syria, Egypt and the territories of the Roman Empire, following the events of war and trade. Certainly since the last decades of the thirteenth century until around the middle of the fourteenth, is well documented in Murano activity enamelling Glass.
Everyone now knows what was the reason that made the island of Murano the island of glass: the threat of fire danger is not just, as most buildings were wooden. And so in late 1200, by order of the Doge of Venice all glassware were transferred to Murano: the penalty for those who disobeyed, death. It is easy to understand, in addition to security, the aim was to jealously protect the secrets of an art that brought so much wealth and prestige. So much so that those who left the island to settle elsewhere were subject to heavy punishment, including death.

How to Record a Quit Claim Deed

A quit claim deed is a legally binding document between involved parties that states one party is freely giving up interest in the property shared with another. It is most commonly used in situations of divorce between two ex-spouses determining the best course of action for who assumes responsibility of house payments. If you are touched by divorce or any other situation that requires you to sign a quit claim deed, then you must first get started by:
Answering who will assume management of property. If you find yourself giving up your rights to a piece of property, tangible or otherwise, then you will need to sign the quit claim deed without question. If not, then you will likely still be signing, as your name will appear in some capacity. But it's a lot easier to do when you know that you aren't giving anything up. Still, those who assume ownership of the property take on certain risks of their own, making what most people finally decide a "toss up" that simply depends on how valuable said property truly is.
Find good legal counsel who will walk you through the process. No one is just dying to hire a lawyer. There are too many horror stories out there about attorneys, who led financially strapped people down unhealthy paths. Still, no matter what you think, it is an absolute necessity for the peace of mind you will likely seek in return for less responsibility. The faster a quit claim deed clears, the better off all parties are.
Coordinate with rival attorneys if needed to ensure easier transfer of property. The other parties involved in your quit claim deed will likely have their own representation. Make sure you don't look at the process as adversorial. Sure, it is to a certain degree. But a quit claim deed is basically a business agreement reached between two parties. Business agreements ought not to get hostile. See to it that your counsel and theirs can keep things civil throughout the process. Make sure they communicate with you about what you need to pass the deed through as quickly as possible.
Sign the document. Your signature means so much to the execution of this document. It is an acknowledgment that you find another party is more deserving and responsible of the properties in question. On the other side of the coin, it is where you determine what is truly important to you and how you will go about getting it.
Have it notarized. Notary publics can be found in basically any school or business organisation there is. In order for you to successfully record the document, it must be notarized by a qualified third party.
If a quit claim deed is in your future, heed the above advice and get your life moving again!

Analyzing Home Loans

The biggest problem of access to housing is perhaps the unseen: while 10 years ago 10 out of 12 applications were approved, it is estimated that nowadays, between 5 and 6 loan requests are approve, for every 12 applications. There is also a number of them that are accepted "in desk" before all management.
It is the group of those who have a good credit report, and mostly do not need a loan to fulfill their dreams or projects.
Given these conditions in the market, those who are thinking about running or "run again" for a loan and are discouraging or running out of options. I'll point out what needs attention before taking a loan. There are five key points:
1) Define how much you can pay per month. This point relates to the fee-income relation and the amount involved how much a person or household can pay based on what you earn per month. Mostly, it varies between 30% and 40%, and goes on the policy of each bank or lender. An example for a fee-income ratio of 30%, if you earn $ 2,500 per month: they can pay $ 750 every month.
2) Define the amount of credit. From knowing how much you can pay tuition, it is possible to know how much credit can be accessed. In general, funds up to 80%.
For example, being able to pay a fee of $ 1,000 may be offered for 25 years combined rate of $ 100 thousand. But if you choose only a fixed fee, the amount becomes smaller because the amount is increased each month and may be offered less money.
The reality is that it comes to taking a combination of what you want, which is fixed rate and in the shortest time possible, and what can be combined rate-and a slightly longer term.
3) Define what your better rate option is: fixed or variable. This will have to see how much credit is required. It is one of the most complexes. A fixed interest rate means that the rate of the finance charge does not change throughout the duration of the extension of credit. Under a variable rate loan, the finance charge is determined by an index, such as the "prime rate" published nationally each quarter for short term loans charged by banks.
Today, what allows the variable rate is to have a longer period which may have a fixed rate. You pay a cheaper rate but it takes a bit more risk because that rate might increase.
4) Study the system: French or German: Every system has its advantage and disadvantage The advantage of the "French" is that it has a lower premium than the German and you can access a larger amount and the disadvantage is that if you want to cancel it in the early Fees you'll have to pay a lot of interest.
In the German system, as all shares are equal and decreasing capital (for the rate), if you want to make an early cancellation will have more capital than in the other system. The drawback is that the first installment is 30% higher than that of the French system, which limits the income share ratio.
5) Take into account the total financial cost. This point is fundamental. The credit not only does the amount of capital and interest rate but also a number of expenses among which include the award-notary, appraisal, insurance, administrative. You must ask to compare between what entities should be. Banks are required to report this data.
In relation to the cancellation charges is important to find out how much is it. It is supposed that after the first 25% of the loan term, there should not be prepayment charges. And it might sound silly, but is important also recalled that "before paying a ticket, make sure that your home loan has been approved."

Estimate Closing Costs on Your Mortgage

Hello there first time home buyer, thank you for stopping in and reading this important article on how to estimate closing costs for your mortgage. As you may know, mortgage closing costs can really sneak up on you and knock you in the head if you are not prepared in advance.
It is very important that you get an accurate good faith estimate when applying for a mortgage. As of January 1, 2010 the regulations on good-faith estimates have changed. What HUD did is they changed the good-faith estimate so to make it better for the customer. The jury is still out on that, many feel it has complicated matters a great deal.
For the most part lenders are not happy with the new GFE and the lenders say that it makes it much harder for you the customer to actually estimate your closing cost. This also could cost consumers more money in application fees (which HUD also changed) to prevent dishonest lenders from low-balling the interest rates just to steal prospects.
What is a GFE
What does GFE stand for? It means "good faith estimate" and this is a very important document that a lender must give you within 2 to 3 days of making a loan application. The very word "good faith" should tell you that it is not an actual cost but a close estimate. The actual cost may be higher or perhaps even lower when you get to the closing table, the lender does not always have complete control over the cost until they get closer to the closing, so that may be reason for a difference in the numbers. All the new regulations with a few exceptions have actually created a new headache for the lenders.
If you try to figure closing costs for yourself in advance, you will have a much better chance of knowing which lenders are actually giving the best deal and which ones just are no good and not worth dealing with. The last thing you need is a nightmare after the closing because of under estimated home closing costs.
How to Estimate Closing Costs
So, if we are going to estimate the closing cost on your mortgage, let us begin by adding up some of the fees. Some may charge a loan application fee, also you could expect an origination fee, a hidden cost document preparation may show up on your GFE also. Likewise you will have title closing costs, flood insurance, property taxes and other inspections that may add to the cost as well.
While estimating closing costs, we also need to figure in points. You may wonder what are points? Simply put a point equals 1% of the amount of money that you borrow from the lender. The only reason you will pay point(s) is if you want to buy down your interest rate. Many first-time home buyers may pay 1% or 2% to get a lower interest rate. By the way, you can write points off on your income taxes, but this is not a good reason to pay them.
Do not forget the notary fees, the courier service, money wire transfer fees, home appraisal, surveying, as well as other home inspection fees. These are costs that are often overlooked by first time home buyers when estimating the total closing costs on a new mortgage.
That is not all, there are still other closing costs. We also need to add title fees, property taxes, escrow costs, plus one year's worth of premiums for your homeowners insurance. Be sure to check your own property state regulations to see if a real estate attorney will be required. If so, you have to figure in attorney fees too!
How much will your down payment be? Will it be 20%? If not there is another fee you need to think about. If your mortgage amount is more than 80% of the house value, then you will also pay Private Mortgage Insurance (PMI). PMI insurance is to protect the lender in case you default. This annoying premium will remain there until your outstanding loan balance is below 80% of the value of the property, unless of course you are getting an FHA loan.
For many homes the average closing costs are around $4000. But you must keep in mind that this number depends on many factors and can be higher or lower for you. You have to keep in mind the loan size, your interest rate, what type of loan program you have, and all the state and county regulations.
So when you estimate closing costs, do not forget to include any cost that are paid by a third party. For example, if you are getting a gift or a contribution from the seller, these costs are actually covered by you, the buyer, rather than the seller. This is the case even though you do not pay them yourself. Normally you will find them on page one of the new three-page GFE.
So, hopefully you can see the importance of doing a good estimate of closing costs for your new mortgage. By being prepared, you will not have any surprises when you get to the closing table. One last reminder, always ask for a new GFE a day or two before closing. This way you will know your exact closing costs and how much money you need to bring to the closing.

Simple Business Ideas From Home - Let's Be Real!

So maybe you are a stay-at-home mom? Perhaps you have been laid off, placed on disability, or are just having a difficult time making ends meet? Or maybe you are simply just tired of your job? Whatever the case may be, you are sitting in front of your computer reading articles and doing research on how to start making money from home. You have the desire but you still don't quite have all of the answers you need and, hey, let's be honest here, it is a scary decision. There are plenty of simple business ideas from home out there, but can you really earn significant income? Let's talk about a few of the more popular options.
Start Your Own Website
I'm sure you have already thought about this. You can become an affiliate for other companies, you can find suppliers that will dropship for you, and you can sell items on your site that you never have to keep in inventory. Definitely sounds simple enough. In fact, one of my companies supplies items for hundreds of websites worldwide so I am VERY familiar with this way of doing business. It is effective and you can make some money if you have the proper marketing plan to drive traffic to your site. Unfortunately, I watch way too many people start up this type of business without a solid marketing plan. They spend tons of money and time getting a site up and running only to find out that they don't get any orders. A fancy website with no traffic is really nothing more than an elaborate brochure. Looks nice, but it does not pay the bills.
Network Marketing (MLM)
A very viable option and definitely a valid way of doing business and you can generate significant income. The industry tends to get a bad rap because so many people fail. Why? Usually because most MLM companies will teach you to start by making a list of all your friends, family, neighbors, co-workers, etc... You'll spend the first month talking to them and if you're lucky, some will join you. But if they don't, people often get discouraged and if you do not have a "Plan B" for attracting good, qualified leads then you will find yourself quickly out of business.
Data Entry Jobs
This type of work is easily done from home and is great if you are already tied into a source that can give you work. If not, it could take quite a while for you to build up a clientele. Again, it comes down to your marketing efforts.
Notary Public
Easy enough to pass this test and be able to notarize wills, loan documents, Power of Attorneys, etc... Once again, this is perfect if you already have a source for business. But, if you do not, you better plan on getting out there and marketing yourself heavily because there is a lot of competition out there.
eBay
Did I mention competition? You won't find more competition than on eBay. You can succeed at having an eBay store, but to do so, you better find a way of making yourself stand out against hundreds of other competitors.
Maybe you are starting to see a common theme here. There are MANY simple business ideas from home that you can start, even on a low budget, but the basic premise is the same as it always has been- it all comes down to marketing and you better have a solid plan in place otherwise you could find yourself spinning your wheels. I really can not stress this enough. In the past year, I watched as about 70% of the online stores that do business with my company had to shut down. After talking with some of them, I realized that their biggest mistake was that they did not have a real marketing plan. Yes, some of them paid thousands of dollars to companies promising to get them to page one of Google or Yahoo, but when that didn't work they were quickly out of business.
So here's the light at the end of the tunnel, or the "silver lining" if you prefer... Since it is clear that every business (old or new, online or traditional) MUST have a solid marketing plan, why not sell the marketing plan? Did you even know that you could do that? "Yes, Virginia, there is a Santa Claus!" You can actually learn a marketing plan and sell that plan at the same time that you are using that plan to develop your own business. When and if you really grasp this concept, it will be one of those "light-bulb" moments for you. This is exactly what I did to not only give my businesses the boost they needed, but to also develop another income stream. I am living proof that it works. My online business now appears at the top of Google and Yahoo for very popular keyword searches within my industry, and it is NOT because of pay-per-click or shelling out thousands to a company filled with empty promises.
My friends, you CAN succeed with simple business ideas from home. But don't just take my word for it! I will share my system with you and you can decide for yourself. Feel free to contact me at any time.