Kellee Valnes
Farm & Home's USDA Rural Development and HUD Section 8 specialist.
USDA Rural Development and HUD Section 8 Multi-family Housing Owners and Buyers information.
Owners:
1) Owners are obligated by contracts to these government agencies and have specific guidelines to follow before they can sell/transfer ownership.
a) Buyers must meet Federal Approval through the various agencies if assuming an existing loan.
2) USDA Rural Development requires an owner to APPLY to prepay their loans which often result in restrictions or complications.
Buyers:
1) Buyers must know the pros and cons of entering into an existing government program.
2) If they want to continue with the programs there are ways to make it more profitable for them.
a) Tax credits
b) Larger Returns
c) More rental Assistance
Both USDA Rural Development and HUD require that specific criteria be met by sellers and buyers. As will most other government programs.
Other programs I’ve dealt with: Minnesota 4D Tax abatement program.
Minnesota HOME Funds 5 year grant rehab program.
The government doesn’t give anything away for free, so every program has it’s restrictions.
Kellee's contact information:
kvalnes@farmandhomerealestate.com
Office #507-449-9975
Real Estate Tips
First Time Buyers >A Matter of Timing
Buying real estate can sometimes involve tricky timing. For example, you may have found the perfect house and are thinking about making an offer, but are feeling pressured to make a decision just when you want time to consider the matter. The agent tells you that another party is thinking about making an offer, so you shouldn't hesitate if you really want the house. What should you do? Trust your agent!
It is natural to feel some pressure from even the most easy-going real estate agent--and some uncertainty about making an offer. If you really like a house, there is always the possibility that someone else will share your enthusiasm for it. Whether your local market is active or sluggish, it is sensible to assume that another offer is likely to come in. Perhaps you can afford to "sleep on it", but moving as quickly as possible will minimize the possibility that the house will go to another buyer.
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Real Estate Trivia
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What are the characteristics of classic Queen Anne architecture?
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| A |
Queen Anne homes are the most elaborate, romantic and feminine of all Victorian Homes. |
 See More Real Estate Trivia > |
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The Farm and Home Team
Farm & Home Realty
1010 W. 5th Street
Canton, SD 57013
605-987-5874
Toll Free: 1-877-724-SCHUTTE (8883)
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Email: FarmandHomeTeam@NUMBER1EXPERT.com
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When it comes to buying or selling your home, you want to deal with a REALTOR who makes you feel comfortable. Our style is casual. You won't get a
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of the many tools available on our website. And, we'd love to talk with you. Send us an e-mail, give us a call or, if you are in the area, stop in. The coffee pot is usually on!   
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