The probate process for a house in Reno – don’t get shortchanged

By Larry Crickon

Buying and selling of real estate is big business in any economy in the world. As a population increases, more houses are needed for people to live in and offices for people to work in. Despite this fact of life, real estate transactions can still be very risky propositions! Especially when it comes to probate property, if the prospective buyer doesn’t understand the probate process for a house in Reno NV.
So what is a probate anyway?
A probate is a legal way of administering the property of a deceased person (decedent) if the person never left a will or if the will had specific instructions on how his or her property was to be administered after they are dead. These proceedings take place in probate courts. Sometimes they can end up being the best real estate deals that any buyer or seller might get in Reno…

How to begin the probate process for a house in Reno

The probate process begins after a person dies. Soon after this, the seller is expected to inform the court, which appoints an attorney to take care of the sale. Once this is done, the attorney advertises the property just like other real estate properties. The price is based on the agent’s suggestion and also from an independent appraisal ordered by the probate court. Note: It is important for the seller to familiarize himself or herself with the property to avoid being short-changed. This can be avoided by choosing the right partner in Reno and that would be us, Oracle Property Solutions. Click the link here, fill out the form and we’ll help you get started now.
Okay, my property is on the market, now what?
Now, after the property is advertised on the market then it is up to the seller to wait for the buyers to make offers on the property. Once this process is completed, the final decision is made by the probate court on who should buy the property based on an auction if there was more than one interested buyer…. In this case, we would suggest you choose Oracle Property Solutions to purchase your property because as you can see from our website we have not only given the best deals on probate property in NV but also on short sales!

Want to sell your house in Reno fast (and securely)?

We have been in this industry for years and our reputation speaks for itself. If you are interested in choosing us as your partner in Reno, you are always free to contact us through our website form, our social media pages, as well as giving us a call at (775) 430-5200. For immediate assistance, you can leave an email message on our site and we shall call you within the shortest possible time. In addition, you can leave a text message and we shall respond, as soon one of our real estate agents is free.
We are always here to help walk you through the probate process for a house in Reno, we look forward to speaking with you. 🙂

Call us today at (775) 430-5200 to get a cash offer on your inherited house today!

Is it still a buyer’s market in Carson City, NV?

By Larry Crickon

Is it still a buyer’s market in Carson City, NV?

As experts in the Carson City real estate market, we get asked this question a lot.

The answer isn’t as simple as yes or no.

First off, it really depends on the property type and location.

Single-family homes in great locations that are priced well have been flying off the shelves. There’s a lot of demand in the market for certain areas, while others can seem like ghost towns.

Buyers are often looking for the same thing – good neighborhoods, access to transportation, shopping, good schools, close to work, etc. Properties that deliver all these are definitely a hot commodity. Sellers with a highly desirable property are in control of the market.

But for condos and townhouses – especially those a little off the beaten path, or with some funky features – it can be quite a different story. Prices were down in certain areas of Carson City, but seem to be rebounding as the rental market increases.

Investment properties are in demand. The massive amounts of foreign cash flooding in to invest in US real estate have impacted the Carson City market in unique ways.

Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.

Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pencil out.

Financing is still a major obstacle for buyers. Banks are being incredibly strict, requiring lots of money down and even changing their terms at the last minute. It’s not uncommon for approved buyers to get their loans pulled right before closing escrow, although it’s getting better than it was just a couple of years ago.

Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle.

Sound confusing? It is. But We Can Help.

There’s a lot of shakeup in the US economy still taking place, and the markets are moving fast in lots of directions at once.

We’re investing in Carson City because we believe in the community and the people here.

If you need to sell a property near Carson City, we can help you. No commissions, fast turnaround, all cash offers!

We buy properties all over Nevada, in all kinds of conditions, from people who need to sell fast.

Give us a call anytime (775) 430-5200 or fill out the form 
over here today if you’re looking to sell a Carson City house Today!

How to Sell Your House to an Investor in Reno NV

By Larry Crickon

Home ownership just isn’t what it was in the 1950’s.
In the past, people would buy a home and live there for the rest of their lives, often passing it on to their family. Things have changed. Many first-time homebuyers are going into it with the attitude that they’ll sell when it’s time for a change. If you’re looking to sell your house, you could be frustrated.
Despite the market trends in Reno slowly shifting, it’s still very much a buyer’s market. With so much property available, you could find yourself waiting months or longer to get a fair price on your home.

How To Sell Your House To An Investor in Reno

One option that many homeowners are turning to is selling to a real estate investor like Oracle Property Solutions to buy your house from you.
These independent investors typically purchase homes, repair them, and then use them to generate income; either as rental units or sell them for a profit. Reno has numerous reputable and trusted real estate investors who will help you sell your home quickly.
Selling your house to an investor is relatively simple.
You provide him or her with information about your home and personal situation.
The investor will then inspect the home and determine a fair value, taking into account necessary repairs, and make an offer. If the offer works for you, you’ll close, and receive the payment for your house in cash… usually within 7 days if you want to close that fast.

How Fast Can You Sell Your House To Local Investor?

This process is extremely quick compared to more traditional methods, often taking just 7-10 days.
If you need to sell your Reno home very quickly, with little hassle, selling to a Reno real estate investor is a great option.
When you work with a real estate investor… there usually aren’t any fees involved, as you don’t have to worry about paying an agent commission, and most often, the investor will cover the closing costs.
While real estate investors are often looking to purchase homes at a discount, allowing them to fix up the house if it needs repairs… then sell the home to another home owner.

The Hidden Costs Of Waiting To Sell Your Reno House

Many people don’t consider the hidden costs of holding on to a property.
Extra months of mortgage payments, utilities, maintenance costs, and other fees could quickly add up. By selling at a slight discount, you could potentially end up with a larger sum in the long run.
By selling your home to a real estate investor, you’re saving yourself possible months of headache, and you can quickly move on to your new home. You’ll avoid expensive fees, closing costs, and investors will purchase your home as-is, assuming the costs of repairs that you’d have to pay if you were selling via more traditional means.
Fill out the form below to get a fast cash offer on your home!

Give us a call anytime at (775) 430-5200 or
fill out the form on this website today! >>

New House Buying Signs! I buy houses in Nevada

I Inherited a House, What To Do? – Should I rent or sell in Reno?

By Larry Crickon

First, we’re so sorry for your loss. This can be a very challenging time for many reasons, and dealing with property ownership is tough at the best of times.
You’re thinking, “I inherited a house, what to do with this house?” Should I rent it? Should I sell it?  How should I sell it?
Tons of options open for you, but…
… we can help.
We’re seasoned investors in Reno real estate, and we’re looking to buy several houses each month in the Reno NV area. Every month we get calls from those who have inherited a house and are looking to sell the house… so the info below are some tips to help you navigate the process.

I Inherited A House, What To Do Next?

Here’s a few important considerations to help you make the right decision:

1) Make sure the mortgage is paid.

This may sound obvious, but if the person who left you a property also had a mortgage (unless it had no mortgage and was paid off, which is great!), you have to pay it (assuming you want to keep the property). Some banks will allow you to assume the loan, while others may force you to refinance into a new loan. If you don’t qualify for a new loan, renting may not be an option for you.

2) The investment is only as good as the manager.

If dealing with brokers, maintenance, tenants, rent collection and all the nuances of property management isn’t the best use of your time, hire a professional to help you or cash out now.  Some people who inherit homes decide to keep the house and rent it for extra income. That’s a great strategy for sure. You just need to be prepared to manage the property and the hassles that can go along with tenants and toilets.

3) Property ownership costs money.

It’s rare to see a building that’s been perfectly maintained. Most inherited houses need major improvements.
Consider hiring a professional property inspector to give you a detailed rundown on what you’ll need to do within the next five years, along with estimated costs. Surprises are very, very expensive.

4) Selling a property for top dollar costs money.

If you don’t want to deal with making repairs, updating kitchens, improving landscaping and overall cleanup, don’t worry. We buy Reno houses for cash, as-is.

5) If the market will continue to grow faster than your other options, hang on to the investment.

We can help you analyze the value of your property today versus the long-term benefits of renting. If you can use the equity in your property in another way that outpaces the performance of the real estate market, you should. If you don’t have anything better to do with the money and the neighborhood is rising in value, hang on – real estate can be a great investment if you know how to correctly read the market.

6) Uncle Sam wants a piece of the action.

Don’t forget to discuss your inheritance with tax and legal professionals before you take action. There are major property and income tax consequences that will dramatically impact the cost of owning your investment.

7) Consider all your options.

In certain situations we may be able to help you structure a lease-option agreement that allows you to rent and sell at the same time – capturing the best of both worlds. These kinds of deals can be complicated, but our Carson City investment experience can help you win.

8) Compare a few scenarios.

We’ll help you determine prices for any property near Carson City – if you sold it today without doing any work, the highest price the market will bear, and the projected value of keeping it as a rental (along with the costs).

Just call us today at (775) 430-5200 or contact us now for more information
on how we can make you a fair cash offer on your inherited house today!

The probate process for a house in Carson City, NV– don’t get shortchanged

By Larry Crickon
Buying and selling of real estate is big business in any economy in the world. As a population increases, more houses are needed for people to live in and offices for people to work in. Despite this fact of life, real estate transactions can still be very risky propositions! Especially when it comes to probate property, if the prospective buyer doesn’t understand the probate process for a house in Carson City, NV
.
So what is a probate anyway?
A probate is a legal way of administering the property of a deceased person (decedent) if the person never left a will or if the will had specific instructions on how his or her property was to be administered after they are dead. These proceedings take place in probate courts. Sometimes they can end up being the best real estate deals that any buyer or seller might get in Reno…

How to begin the probate process for a house in Carson City, NV

The probate process begins after a person dies. Soon after this, the seller is expected to inform the court, which appoints an attorney to take care of the sale. Once this is done, the attorney advertises the property just like other real estate properties. The price is based on the agent’s suggestion and also from an independent appraisal ordered by the probate court. Note: It is important for the seller to familiarize himself or herself with the property to avoid being short-changed. This can be avoided by choosing the right partner in Reno and that would be us, Oracle Property Solutions. Click the link here, fill out the form and we’ll help you get started now.
Okay, my property is on the market, now what?
Now, after the property is advertised on the market then it is up to the seller to wait for the buyers to make offers on the property. Once this process is completed, the final decision is made by the probate court on who should buy the property based on an auction if there was more than one interested buyer…. In this case, we would suggest you choose Oracle Property Solutions to purchase your property because as you can see from our website we have not only given the best deals on probate property in NV but also on short sales!

Want to sell your house in Reno fast (and securely)?

We have been in this industry for years and our reputation speaks for itself. If you are interested in choosing us as your partner in Reno, you are always free to contact us through our website form, our social media pages, as well as giving us a call at (775) 430-5200. For immediate assistance, you can leave an email message on our site and we shall call you within the shortest possible time. In addition, you can leave a text message and we shall respond, as soon one of our real estate agents is free.
We are always here to help walk you through the probate process for a house in Carson City, NV we look forward to speaking with you. 🙂

Call us today at (775) 430-5200 to get a cash offer on your inherited house today!

What is a Pre-Foreclosure in Reno?

By Larry Crickon

With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process.

So what is a pre-foreclosure in Reno anyway?

Many homeowners across America and Reno are facing difficulties making their monthly mortgage payments.
When a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the homeowner to pay or lose their home. This period is known as “pre-foreclosure.”
Banks and mortgage lenders typically provide three months for the homeowner to become current.  Of course this number can vary by bank and situation sometimes.
If a homeowner fails to make the necessary payments, the bank will foreclose on the home, assuming ownership, and evict the homeowner. Thankfully, during this stage of the foreclosure process, a mortgage holder has the opportunity to take advantage of several options to prevent losing their home.

Pre-foreclosure Options for Borrowers

If you’re behind on mortgage payments, you’re likely to receive a “notice of default” from your mortgage lender.
This document will state that you have not made mortgage payments for the last 90-180 days. It’s important not to panic.
You have options that can delay or even prevent losing your home:

• If your mortgage is “above water,” (meaning you have equity in your house) you may be able to refinance your mortgage, receiving lower monthly payments.  Check with your local Reno mortgage broker… or contact us and we can connect you with a reputable one.
• You may be able to quickly sell your home to a real estate investor that’s reputable in Reno like us at Oracle Property Solutions, using the cash acquired to pay the months of back-payments owed (or we *may* be able to work out something with the lender that relieves all or part of your back payments.We can buy your Reno NV area home quickly, often in just a week or two, will pay in cash, and takes the stress out of trying to find a buyer.
• You can contact the bank and ask them to permit a short sale. In a short sale, you’ll sell your home for less than it’s worth, and the bank will take the loss as a tax write-off.  In some short sales you may still be required to pay the difference to the bank if the house doesn’t sell for what is owed on the loan.
• You may be able to declare bankruptcy, which can buy you time to pay your debt. Bankruptcy will remain on your credit report for years, and can cause significant damage.

Lenders are very much aware of the widespread financial troubles across the country and they’re willing to work with borrowers a lot of the time.
If you’re honest and communicate with your lender, you’ll often find that there are options that will allow you to remain in your home, or at least salvage your credit rating.
A foreclosure can often negatively affect your credit score by 200-400 points and can prevent you from obtaining a loan of any sort for 5-7 years, so be very dutiful if you’ve received a Notice of Default from your lender.
But if you’re not able to find a solution with your lender working directly with them… connect with us. We may be able to help.

Ways We Can Help If You’re In Pre-Foreclosure

• We can potentially help with a short sale – Submit your info on this website so we can evaluate your situation to see if we can help.
• We can buy your Reno area house – We buy houses in Reno and would love to make you an all-cash offer on your house too. Just fill out the form here to get started >>
• You can ask us questions and we can provide you FREE guidance and resources so you can make a well educated decision. This costs you nothing, there’s absolutely no pressure, no obligation… just free guidance without a catch.

If you’re in the pre-foreclosure stage… you’ve still got time to fix this situation.
Just connect with your bank to see if they’re willing to work with you… or contact us if you’d like to see what we can buy your house for or to tap into our free foreclosure foreclosure resources.

Want To Discuss Your Pre-Foreclosure Options? Call Us at (775) 430-5200
Or, Submit Your Info Here To Get A Cash Offer On Your House >>

How to Avoid Foreclosure in Reno

By Larry Crickon

While the housing market is rebounding, many people in Reno] are still struggling to make their mortgage payments.
If you’re underwater on your home, or having trouble keeping up with your monthly mortgage payments, you could be fearful that your mortgage provider is going to foreclose.
Thankfully, there are a number of things that you can do to avoid foreclosure in Reno. It’s important to remember that moving quickly is absolutely paramount, and could save your credit rating and your home.
So lets dive in on a couple quick tips on possibly how to avoid foreclosure in Reno with your home.

The Keys of How To Avoid Foreclosure in Reno Don’t Abandon Ship

Many people simply give up and walk away from their home. There are even areas of Reno have begun to resemble ghost towns, as the economy has impacted residents significantly.
Detroit is a prime example of what can happen when people abandon their homes.
This can be stressful situation, but it’s extremely important to keep your wits about you. A foreclosure will have a huge negative impact on your credit score, and likely prevent you from purchasing a home for years to come. If you sell your home, you could leave a portion of the loan unpaid, and the lender could pursue legal action against your for the unpaid portion.
While it’s extremely stressful, you do have options:
• Negotiate with your mortgage lender. Banks and other financial institutions are well aware that citizens of Reno are struggling. If you haven’t missed a payment yet, you may have some leverage to renegotiate the terms of your loan. Banks don’t like foreclosing on homes, and many will work with you if you aren’t too far behind. You may be offered forbearance, or even a full loan modification.
• Ask for help from Uncle Sam. Over the last five years, the federal government has implemented a number of programs to help struggling homeowners. The Home Affordable Modification Program (HAMP) allows struggling homeowners to modify their loans, reducing monthly payments. The Home Affordable Refinance Program allows homeowners who are current on their mortgage payments refinance an adjustable rate mortgage into a low-interest, fixed rate loan. Both of these programs are subject to eligibility requirements.
We understand that the possibility of losing your home can be stressful. You aren’t alone. Citizens all over Reno are going through the same troubles. Foreclosure can have a lasting effect on your financial life, and it’s important to move quickly and take advantage of any options available. You could save both your credit rating and remain in your home.
We may be able to help you avoid foreclosure… connect with us today and lets discuss your situation. We don’t charge any fees… we’ll evaluate your situation… and present you your options so you can move forward and get this foreclosure behind you.

Give us a call anytime at (775) 430-5200 or
fill out the form on this website today! >>

Help, I’m behind in my mortgage payments in Reno!

By Larry Crickon

Behind on your mortgage? Read this article for a few tips on what you can to do prevent and avoid foreclosure

When you fall behind in your mortgage payments on your Reno home, it can feel like you’re drowning in debt.
Even if you’re able to make your monthly payment, catching up on a past due balance can be an overwhelming challenge.
There’s a few options that can help you to avoid foreclosure in Reno and maybe even keep your house, even if you’re seriously behind in payments. Lots of properties in Reno have been lost to foreclosure, but there are many ways to avoid it.

1. Bankruptcy:

This is usually the tool of last resort. If you’re being crushed by lots of debt, bankruptcy can be a good way to negotiate with lots of lenders at once. It’s a lot of work, and it won’t help you avoid your mortgage. Different lenders will treat your circumstances in unique ways. You’d benefit from serious professional help – the best you can afford.

2. Reaffirm:

This can be a good card to play, but it may come with some unseen penalties. Basically, reaffirming the loan is an additional commitment to pay. In some states where it’s allowed, an affirmation can create additional liabilities if your property is auctioned.

3. Making Home Affordable (MFA):

If your mortgage qualifies, you might be able to participate in MHA. Any loans backed by Fannie Mae or Freddie Mac must be considered for MHA, and other lenders choose to participate in MFA.
With MFA, your payments and/or interest rates might be lowered – even the principal balance (if your home is worth less than you owe). If you’re unemployed, you might be able to get your payments temporarily suspended or reduced.
MFA is a government program, so be prepared to deal with lots of paperwork. It ain’t free money – you gotta work for it.

4. Negotiate with your bank:

Lots of lenders routinely offer some level of assistance. You have to work hard at it, but you might be able to get your interest rate reduced, or a temporary reduction in your payment.
Most of the time, lenders will want to steer you to refinance your loan – but by the time you’re a few payments behind, you probably don’t qualify for a reduction in interest rate.
You have to work really hard to negotiate with a bank. Usually it takes lots of calls and the patience of a saint to get through the bureaucracy. Never, ever act rude. Ask for help from everyone you speak with, but don’t sound desperate. Explain your situation, offer supporting documents, and reassure the bank that you want to live in your home for the long term.
If you’re in need of a temporary fix and want to stay in your home, most banks can be forgiving. Sometimes they’ll be willing to add a few months of payments back onto the primary balance of your loan. It’s all dollars and cents to them, so remind them that you need their help to give them a lot more money in the long run. If they have to sell your house at a foreclosure auction, they’ll take a huge loss.
That sounds obvious, but for some reason bankers seem to forget it when saying no to someone in need of help.

5. Borrow money from a private investor:

If you’re behind in your payments and need to sell fast, we can help.
In certain circumstances, we may even be able to help you stay in your home.
We work with homeowners in Reno to find solutions to foreclosure problems.
We’ll let you know how we can help.

Give us a call now at (775) 430-5200 or
fill out the form on this website to get started.