Monthly Archives: August 2011

  • SE Uplift and the Office of Neighborhood Involvement Small Grants Program

    No featured image
      It’s that time of year again when SE Uplift and the Office of Neighborhood Involvement take applications for the Neighborhood Small Grants program, which in it’s 6th year. Here’s more from SE Uplift:
      SE Uplift will be awarding $46,058 in grant funds to neighborhood, business and community-based groups. Grants will be awarded through a competitive basis and may range from $1,000-$7,500.
      The goal of the grant program is to provide neighborhood and community organizations the opportunity to build community, attract new and diverse members and sustain those already involved. We accomplish this through building partnerships between neighborhood, business, and community based organizations. Engagement of historically under-engaged communities is a high priority for this grant program. This year applicants are required to have an organizational partner on proposed projects. Preference will be given to proposals submitted on behalf of or in direct partnership with one or more of the following:
      • Neighborhood associations
      • Organizations predominantly led by people from historically under-engaged communities including communities of color, immigrants and refugees, youth, people with disabilities and lesbian, gay, bi and trans communities
      • Business associations or individual businesses
      For more information about SE Uplift's 2012 Neighborhood Small Grants Program or to download the grant application, visit our website. For more information, questions or feedback on your project idea, please contact Kristen503-232-0010 x 319. Application Deadline: Tuesday, November 1 by 2:00PM
    • Energy Star 2011 Welcome Home Sweepstakes

      No featured image
        NW Energy Star Homes is holding a "Welcome Home" $25,000 sweepstakes through September. The $25,000 winner could use the money as a down payment or to purchase a new home (whether it's an Energy Star home or not).

        1) Find a Home
        2) Take a Tour
        3) Tell NW Energy Star What You Think

        Contat us to find a participating home in your area

      • Escrow Tips: Tax Holdbacks

        No featured image
          We have moved into the season of Tax Holdbacks.  Preparing your clients for this additional financial responsibility is another way to help your transaction flow quickly and smoothly.  During the period of September 1st through October 15th, your buyer/borrower’s lender, in most cases, will require a Tax Holdback for the estimated payment of the 2011-12 county property taxes.  This estimated amount quite often is 115% of the previous year’s tax amount. Also during this time, pro-rations of the property taxes will be a debit to the seller and a credit to the buyer.  The prorated tax value will be based on last year’s tax amount as the New Year’s tax amount is not yet available, unless the sales agreement instructs for a different figure to be used.
          It’s a good idea to confirm with your seller that once the tax roll is certified (around October 15th), any taxes due for the remainder of the year will be charged to the Seller to clear the lien of taxes.  Your seller will receive a credit for the buyer’s pro-rated share.  To clarify, prior to the certification of the tax roll, the taxes are “a lien, not yet payable”.  Once the tax roll turns, they become a lien on the title to property.  Additionally, if your seller has an escrow account for property taxes/ insurance, they will get a refund from their lender about three weeks after closing; it is not a credit at the closing table.  They should contact their lender for the specific information on how the funds will be returned.
            Time of closing is critical when dealing with tax prorates between the buyer and seller.  When in doubt, ask questions.  We’re on your team and here to help. Escrow Tips Courtesy of Theresa Marshall, Senior Escrow Office at Lawyers Title.  With over 15 years experience Theresa is a great resource for your Title & Escrow needs.