What is Prac contract?
A project rental assistance contract, or PRAC, is an agreement between the Department of Housing and Urban Development and the owner of a property operating under HUD’s Section 202 program for the elderly.
What is a HUD 92006 form?
HUD Optional Contact Person Form 92006 must be provided to all applicants to federally subsidized housing. The purpose of the form is to provide applicants the opportunity to name a person or organization they want the housing provider to contact if there is an issue with their tenancy.
What is the HUD 50059?
(Move-Outs, Terminations, Gross Rent Changes and Unit Transfers) Owner’s Certification of Compliance with HUD’s. Tenant Eligibility and Rent Procedures.
What is Section 202 Housing for the elderly?
The Section 202 program helps expand the supply of affordable housing with supportive services for the elderly. It provides very low-income elderly with options that allow them to live independently but in an environment that provides support activities such as cleaning, cooking, transportation, etc.
What does DRA stand for in real estate?
Griffith. Published on : 2006-09-05. In a change of course, the New Hampshire Department of Revenue Administration (the DRA) has recently proposed new rules specifically designed to impose the New Hampshire Real Estate Transfer Tax twice on any transfers of real estate into or out of any real estate holding company.
What is a HUD 92544?
Form HUD-92544, Warranty of Completion of Construction, is a formal document signed by a builder that wants to sell a new home to guarantee the building is constructed in accordance with the plans and requirements approved by the Federal Housing Administration.
What is a HUD 92541?
HUD-92541 before performing the appraisal on proposed or under construction. properties or properties less than one year old and never occupied.
What does CTG mean in real estate?
CTG – Contingent. If a property is said to be under agreement or contingent or pending or under contract or active with contract or have a signed offer – it means the same thing. Namely, that there is a signed, accepted offer between Buyer and Seller.
What does 10G mean in real estate?
The winner takes home the full $10,000. The contest is open to any agent, from any agency, who sells a Gimelstob home. Called the 10G program, the incentive dramatically increases sales, Gimelstob said, because it rewards agents for working harder to sell a participating property.
Does VA require a 10 year warranty on new construction?
On new construction homes the VA requires a 1 year builder’s warranty or a 10 year insured protection plan, but some builders offer additional protections or warranty options. Talk through each option and determine which warranty plan best fits your needs.
What is CTG on MLS?
CTG – Contingent. There is a signed, accepted offer. That is, there is a legally binding agreement between Buyer and Seller. Yes, that’s right, UAG and CTG status in MLS mean essentially the same thing – namely, that there is a signed, accepted offer between Buyer and Seller.