Anja Drewes's Blog

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It is really easy to protest your taxes, yourself.

If you used a good Realtor when you purchased your Condo, he/she will be happy to provide you with CMA of recent sales which are similar in size, or you can email me. The protest period for Fort Bend County runs from May 1st to Midnight May 31. .  Just fill out the notice of protest and take your case to the Fort Bend office located at 2801 FM 2218 in Rosenberg, or go to www.fbcad.org to protest online.

I went last week and it took me 30 minutes.

Good Luck

Anja

 

What do you need to know, getting a Investment Loan:

You must have 20% down.  The max # of financed properties cannot exceed four.  Must have two housing payments in cash reserve for each [property;

5.25% with 1% loan origination fee. 

Appraisal

·         Field Review Must be Provided on Investment Property Refinance Transactions – LTV/CLTV ? 70% or Follow the Investor’s Appraisal Requirements, if More Restrictive (except when the AUS requires, and the investor allows, a PIW/PIA or an inspection report instead of an appraisal report)

·         Appraiser Must Provide an acceptable Comparable Rent Schedule and an Income Operating Statement (regardless of DU/LP findings/requirements)

Miscellaneous

·         File Must Contain Proof of 6 Months Rent Loss Insurance, if Using Rental Income to Offset the Mortgage Payment on That Property

Notes:

1.     *If most recent 2 years tax returns do not verify a 2-year landlord history for the borrower(s), rental income cannot be used for qualification purposes.

2.     The borrower can own no more than 4 financed 1-4 unit residential properties (including their primary residence and the subject property).

NO FLIPS.  Loan is ineligible if seller was not in title for a minimum of 90 days prior to executed sales contract date

 

 

I am happy to announce that i passed my Texas Real Estate Broker's License.

So you ask yourself what is a Broker' License:....  A broker is also licensed by the state.  Usually, a Realtor takes a large course load of classes to become a broker, including Real Estate Law, Brokerage Management, and Business Management.  Brokers in Texas are required to have at least 4 years of experience as a full-time salesperson/agent, An applicant must demonstrate not less than 3600 points of qualifying practical experience, 270 classroom hours of Core Real estate Courses and an additional 630 classroom hours Real estate Courses.  Brokers also have to pass another exam, this time with higher qualifying scores.  Brokers can manage a real estate brokerage or work as Broker's associates in a Office.

Anja Drewes
2011 Five Star Real Estate Agent Texas Monthly Magazine

A recent survey on Houston region consumers shined the light of excellence on Anja Drewes RE/MAX agent.  Shw was honored as Five-Star Real Estate Professionals in Texas Monthly magazine.  The survey was conducted by Five Star Professional, which provides independent research to identify professionals who score highest in overall customer satisfaction.

What does it mean to be selected as a FIVE STAR Real Estate Agent?

FIVE STAR Real Estate Agents are selected as a result of a rigorous research process. The resulting list represents no more than 7% of the real estate agents within their market area.

For the 2^nd year in a row  Anja Drewes has been voted

the #1 Realtor in Houston Texas, by Tops in Texas.  

 I would like to thank everyone who voted for me this year.  And for their support. 

To see the results please click on: 

http://www.topsintexas.net/Top-Realtor-In-Houston.html

and click on View Results. 

If you are a non-Resident Alien and want to buy or sell property in the US,  you have to know :

·         When accounts are opened in the US, the Bank will be required to implement the Patriot Act section 326, which is the Customer Identification Program CIP

·         All business Transactions are prohibiting with anyone that appears on the SDN List …black list. You can find the list with all names at the US Department of Treasury: http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx

·         Since November 8, 2003 the IRS requires all non-US persons to have a ITIN when they sell property. You will get a  Individual Taxpayer identification Number ITIN, if you are not eligible for a Social Security Number. Us e Form W-7 , you can get

·         If you are selling property , you also need to file form 8288 and 8288-A, US withholding Taxes Return for Foreign Person

·         All gains, profit and income resulting from a sale in the US, are deemed US, source income

·         Passive income like rent, interest etc is subject to withhold 30% of gross income

·         Buyers of US property from non-Residents are required to withhold 10% of the gross purchase price ( including cash deals)

·         The 10% withhold must be transferred to the IRS within 10 days

Exemption the  10% FIRPTA Rule:

·         Personal residence up to $300.000, with proof of use

·         Seller furnishes affidavit that he is not foreign

·         More info: http://www.irs.gov/businesses/small/international/article/0,,id=105000,00.html

 

Definition of Resident Alien:

·         Green card holder

·         Taxed on worldwide income

·         Physical Presence:  Person present in the US with a average of 183 days over a 3 year period.

o   Formula: Add the numbers from the last 3 years:  Number of days in present year plus 1/3 of days in last year plus 1/6 of the year before. Has to at least add to 183 days

Definition of Nonresident Alien:

·         Taxed only on US sourced Income

Anja Drewes, RE/MAX Elite 713-298-9177

Please verify all Information; this is just a brief summary