1031 Exchanges ~ Foreclosures ~ Short Sales
First Time Home Buyers- Purchasing a home for the first time is a daunting process. Frieda Lencioni can help you with the loan pre-qualification process, and based on your criteria she will assist you through the decision making process in order to find your dream home. She is also familiar with the local communities including schools, shopping, freeway access and more.
Once you find that dream home, Frieda Lencioni can assist you through the offer, home inspection and escrow process. She is also a valuable source of helpful hints for planning and coordinating your move.
Contact Frieda, or call her at (209) 524-6454
1031 Exchanges – Frieda Lencioni is well versed in 1031 Exchanges and can help an investment property owner avoid a large capitol gains tax bill. This type of real estate transaction involves trading like-kind properties, such as; a rental, vacant land, trade, or commercial properties.
Under the 1031 exchange real estate rules a seller must have held the investment property for at least a year and a day to qualify. Both the relinquished property and the replacement properties must be of like-kind; either a rental, vacant land, trade, business or investment properties.
1031 exchanges must be completed within strict time limits – 45 days to identify the replacement property and then 180 days to complete the actual exchange. Since these transactions are complex, it is important to work with a professional.
Contact Frieda, or call her at (209) 524-6454
Foreclosures – When a bank gains possession of a home through a foreclosure, and then is unable to sell the property through auction, the property becomes a Real Estate Owned (REO). Unfortunately, purchasing a REO foreclosed home can be a tricky proposition for the buyer.
The bank will not do any repairs and the bank is not subject to the same disclosure rules that a home owner is subject.
So when purchasing a foreclosed home you really need to work with an experienced agent such as Frieda Lencioni. She can guide you through the process and help you avoid the pitfalls of purchasing a foreclosed home.
Contact Frieda, or call her at (209) 524-6454
Short Sales again require the services of an experienced realtor such as Frieda Lencioni. Simply put, short sales require negotiation with the mortgage holder to accept less money than is owed as payment in full on a property.
A short sale can be a win-win-win solution for all parties involved; the bank, the seller and the buyer. The bank doesn’t really want to own properties and foreclosure is an expensive process, the seller is stressed because they are upside down on a property and the buyer generally ends up with a property that is well maintained and a good price point.
There are so many variables when working with a bank on a short sale that it is important to work with a Realtor that is familiar with the process. And Frieda Lencioni knows the ropes, she has coordinated many of these types of transactions.
Contact Frieda, or call her at (209) 524-6454
