About Experts Sitemap - Group 8 - Page 12 2015-04-21

Buying or Selling a Home: change/ammended contract, attorney, error
attorney, error, addendum: Hi Gina. There are some real concerns here. There are some simple answers and some not so simple ones. Please keep in mind I am not an attorney and cannot give you legal advice. I can only give you the benefit of my experience as a Realtor. These are...

Buying or Selling a Home: Failure to disclose, maryland home inspection, purchasing home in Maryland
maryland home inspection, purchasing home in Maryland: I m so sorry this happened to you! First I need to tell you that I am not an attorney and cannot give you legal advice. I think that this may fall under that category but I will give you my opinion as far as how I would move forward if I had this happen...

Buying or Selling a Home: First time Offer, buying homes in Ft. Meade area Maryland, selling your home in maryland
buying homes in Ft. Meade area Maryland, selling your home in maryland, offer for home purchase: Hi Tabitha, You re in a position now where I would look for a Realtor who works in your area. What you need is a buyer s agent to help guide you through the process. Realtors work their markets day in and day out and know all of the details from neighborhood...

Buying or Selling a Home: floor, wall carpet, wood floor
wall carpet, wood floor, wall to wall: Hi Jackie, Thank you for your question. If a home seller has knowledge of a defect and hides it they would be liable for it. If you had wall to wall carpet and the floor had been damaged under the carpet by water or whatever and you did not know about...

Buying or Selling a Home: Landlord selling house, jessica bryan, nassau county
jessica bryan, nassau county, new appliances: Dear Angela; Since you do not have a written lease there is nothing that requires that you let anyone into the home because you did not agree (by contract) to do so. (Of course there is also nothing that keeps the landlord from evicting you either if you...

Buying or Selling a Home: property boundary, chris lol, property boundary
chris lol, property boundary, rule of thumb: Simple? Quickly? You re pretty demanding, Chris!........lol Unfortunately, there s not. I know what you mean by gobbledigook. That s pretty much what it is to the average person like you and me. Sometimes you can find a corner marker if you know...

Buying or Selling a Home: Repair problem with seller, board of realtors, dry rot
board of realtors, dry rot, local board: You certainly can, Gina, if that is what you want. If not the agent may lose his/her license. If you have already closed the transaction, then contact a good, local REAL ESTATE attorney and sue the shoes off the agent. However, you may have to take the matter...

Buying or Selling a Home: Seller Closing Costs, selling, selling costs
selling, selling costs, closing fees: Hi, If you are paying the standard fees commonly called usual and customary, you can add 1.1% to the commission (5% + 1.1% = 6.1%) in total closing costs. This does not include any termite, buyer paid closing concessions or repair concession you may have...

Buying or Selling a Home: short sales, unexpected medical bills, mortgage payments
unexpected medical bills, mortgage payments, legitimate reasons: Hey, Jody. If you can wait it out and sell in a better market, that would be the thing to do. In some cases you can rent it at a loss and take the loss as a tax deduction. Check with your CPA or tax consultant. Good luck with everything, and congratulations...

Buying or Selling a Home: Bidding on Hot Property, catbird seat, loan qualification
catbird seat, loan qualification, gmail: The seller, no matter who or what it is, Mitch, is sitting in the catbird seat and if he/they even smell a bunch of bids coming in or likely to come in, he/they are just going to sit back and decide which offer they are going to take. And they don t have to...

Buying or Selling a Home: buyer protection, option period, buyer protection
option period, buyer protection, earnest money: Your rights should be spelled out in your contract. Did you use a Realtor? Your Realtor can explain those to you. Normally the option period for repairs takes care of that issue. If you still want to purchase the home, you need to have in writing what the...

Buying or Selling a Home: Buying our first home, due diligence, pocket expenses
due diligence, pocket expenses, downside: Hi Vanessa, I don t see any downside from buying from family members as long as everyone agrees to a price that both sides are happy with and you do all your due diligence up front including all inspections. Many times people purchase below market value...

Buying or Selling a Home: Buying a Home with Poor Credit, fha loans, buying a home with poor credit
fha loans, buying a home with poor credit, credit score: Hi Danille! Well congratulations on taking the first steps to home ownership! Don t get too discouraged. The ability to obtain financing is credit score driven and you need to save up 3-3.5% of the purchase price for a down payment. There are a couple...

Buying or Selling a Home: closing on a home sale., target date, club dues
target date, club dues, real estate taxes: Hello Harvey, Thank you for your questions. In New York the contract makes a target date for closing as on or about and then there is supposed to be a 30 day window during which the closing should take place. Quite often the seller or the buyer...

Buying or Selling a Home: Cooperatives, co-op, valuation
co-op, valuation, finacials: Randy: Let me ask you a question. I happen to be shopping for a car. The lease payment is $350. Is it a good deal? I bet you re thinking, well how can I answer that question? He doesn t even tell me what kind of car he s buying. Your question...

Buying or Selling a Home: Cooperatives, location location location, cooperatives
location location location, cooperatives, comparables: It doesn t sound like it, Randy, but there is no way I can offer you a sensible reply without knowing what the market is for that property. What are the comparables? They will give you an idea as to the value. Where is it located? Is it in New York? China?...

Buying or Selling a Home: Cooperatives, income tax return, local realtor
income tax return, local realtor, rule of thumb: Hi Randy, Thank you for your questions. Again on the surface it sounds high, but I do not know the surroundings. Are neighboring complexes similar in cost? You should ask a local Realtor for help in making this decision. If you are buying from...

Buying or Selling a Home: Home Taxation- Lease/Purchase, lease purchase agreement, option period
lease purchase agreement, option period, lease payments: To do a lease/purchase correctly, Russ, and without incurring unwanted taxes, you really should put that transaction into three documents: 1. An option because that is what you are actually giving the buyer. Mind you, it s his option to buy and if he should...

Buying or Selling a Home: Obligations of seller to make modifications, old furnace, delivery records
old furnace, delivery records, inspection period: Sorry my response is late but I am on vacation. It is usually the buyer who pays for any and ll inspections. If this is the way your own contract is written, then it is the buyer who should hire the specialist. Buyers are entitled to get whatever buyers...

Buying or Selling a Home: Taxation: Lease/Purchase on Home, Tax, house
Tax, house, lease: Hi Russ. Thank you for your question. It s a good one to be asking! Unfortunately, due to my ethical boundaries as a Realtor, I am not able to answer this for you. We are directed to suggest you seek the advice of a qualified tax professional. However,...

Buying or Selling a Home: Taxation- Re: Lease/Purchase, lease purchase agreement, jessica bryan
lease purchase agreement, jessica bryan, lease payments: Hi Russ; Your question is one that should probably be answered by your accountant. However, I would like to say; since you have an lease to own agreement it is like a deferred closing which means that you do not have a sale yet. I don t know what the individual...

Buying or Selling a Home: First home buying
Hey, Jared. There are issues with every house, even newly built houses, and there is always someone willing to buy a house with unpermitted work. The issue with unpermitted work is that the city, in a worst case scenario, can require you to undo the work...

Buying or Selling a Home: mom of 7, negotiating, real estate
negotiating, real estate, offer: Hi Jamie - In most states the offer does not become a contract until all parties have signed. An offer is considered just that, an offer which the seller may accept, reject or counter. In some states if a buyer submits an offer for the asking price the seller...

Buying or Selling a Home: Novice investors, flip houses, flipping houses
flip houses, flipping houses: Hello- If you have fear of the unknown, that s probably healthy and smart. In the beginning, sacrifice profits for knowledge. A) Start working with a real estate agent who can help with flipping. NOT ALL AGENTS CAN HELP YOU. Find one that can:...

Buying or Selling a Home: used mobile home, mobile home, purchase
mobile home, purchase, contract: Hi Sarah. Your question/s are good ones regardless of what the purchase is, mobile home, condo/townhome, single family home or manufactured home. Ultimately, the answers come down to three things: * What does your contract allow for? * Is the price fair...

Buying or Selling a Home: Buying a home - negotiation, buying, selling
buying, selling, renting back: I found it interesting the article starts with With the Real Estate Market in a Slump ... not in most areas, we have now been on the uptick for a few years, and gained considerable equity in the marketplace. So to think that sellers are desperate is not...

Buying or Selling a Home: Buying a home via short sale, short sale, agent
short sale, agent, lender: Hi Andrew. Thank you for your very good question! Waiting on the lender to make a decision can be stressful to begin with. Then to get what one would consider to be bad news is even more disheartening. I m sorry to read it s working out this way for you...The...

Buying or Selling a Home: Fiduciary failure?
A real estate agent cannot strong-arm you into accepting a transaction, Jill. Technically, you do not have to accept ANY offer whether it is your price or not. You would simply have to pay the listing agent (providing you are listed with an agent)his/her commission...

Buying or Selling a Home: Life estate
Hi Gary, Sorry for the delay in answering your question. We had a death in the family. I believe it is possible to sell your interest in a life estate, depending on whether or not allowed by the legal instrument establishing the life estate; and whether...

Buying or Selling a Home: Seller responsibility
Hey, Nikki. Generally the Seller does have a responsibility to be truthful. If you have witnesses to the Seller s representation that the electric service was 200 amps, then you probably have a good case. The problem on your end, though, is how much money...

Buying or Selling a Home: Selling a rental home with depreciation, deceased, beneficiaries
deceased, beneficiaries, property: Hello Becky - The issue here is that when you take depreciation you postpone paying tax on the depreciated amount, which catches up to you when you sell, along with the capital gains tax. I recommend talking to estate planing and 1031 tax exchange professionals....

Buying or Selling a Home: sold my house, job, move
job, move, house: Hi Mike. Congratulations on your new job! Sorry to read your new house hunt is not going well. Hopefully, you have enlisted a Realtor and are not winging-it ... Please note: I am a Realtor and not a tax professional. I recommend professional assistance...

Buying or Selling a Home: Discloure
Hi- Any listing/re-listing strategy should be discussed with your local agent. There are different pluses and minuses and the strategy that they take will depend on what they think would be most effective for your condo, local market, and current buying...

Buying or Selling a Home: Mortgage & Annual Salary, buying
buying: Hi Ken, Your best option is to speak directly with a mortgage broker. They can go through the qualifications and different loan programs that are available to you. It is more complicated than simply income... they look at debt, FICO, job stability etc......

Buying or Selling a Home: multi-family property in neighboring state, LLC, Dual Entity
LLC, Dual Entity, Investment Strategy: For investors choosing to use the dual entity strategy we generally advise establishing the LLC of the operating company in the state it operates and establishing a Nevada LLC that has elected corporate taxation for the holding company and make this Nevada...

Buying or Selling a Home: Abstract Deed, real estate transactions, county register of deeds
real estate transactions, county register of deeds, register of deeds: Hello Sir, very good question. My first thought is, was anything in writing, i.e. an Offer to Purchase and Contract? In real estate transactions, the seller conveys a new deed, drafted by an Attorney, the seller then signs the new deed in front of...

Buying or Selling a Home: Buy vs lease-to-own, first time buyer, school loans
first time buyer, school loans, office job: Lease-to-own transactions can be fairly tricky, CJ. And there is nothing wrong with them as long as all parties are in agreement and the buyer/tenant completes his/her part. I presume the company you almost did a lease-to-own with is in the business of buying...

Buying or Selling a Home: Buy vs. Rent-to-own, lease, own
lease, own, scam: Hello CJ. You did a great job of writing a synopsis of your situation! I am not familiar with your area as I am a Realtor in Silicon Valley in California. So, I cannot speak to pricing, market value or suggest any addition non-traditional options. These...

Buying or Selling a Home: buying a house, jessica bryan, rustomjee builders
jessica bryan, rustomjee builders, global city: Dear Fermina; I do not know how real estate works in other parts of the world but can tell you in America this was a practice that was popular in the late 80 s and early 90 s before developers got wise to it and stopped it from happening. If you want to...

Buying or Selling a Home: Canadian resident - (wife American/perm. res. of Canada right now) want to move/buy in US, perm res, resident wife
perm res, resident wife, washington state bank: Try this idea, Barbara: Since you live so close to Washington state, why don t you approach a Washington state bank and tell them what you are trying to accomplish. I have seen where the proximity of business to another country s border makes the possibility...

Buying or Selling a Home: closing, bobbitt, real estate agent
bobbitt, real estate agent, hud: Hello, thank you for your question. Yes , that is in NC. My suggestion is speak with the closing Attorney prior to the closing and let them know you will not be attending. In NC, most times the sellers sign all docs before and the real estate agent goes...

Buying or Selling a Home: disclosures, disclosures
disclosures: I am sorry to hear the home is causing you health issues. Have you contacted a furnace specialist to see if anything can be improved to reduce the fumes? If it can t be improved the best advice is to consult with a real estate attorney. Since you have...

Buying or Selling a Home: Buy vs. Rent-to-own, thoughtful person
Buying or Selling a Home: Buy vs. Rent-to-own, thoughtful person

Buying or Selling a Home: Faulty plumbing, home inspections maryland
home inspections maryland: Hi Alice, I m not sure how the plumbing has completely failed without warning in such a short period of time. Are they polybutylene pipes? There is a type of piping that was used years ago that is a plastic product that has a tendency to fail at the connections...

Buying or Selling a Home: mobile home, mobile home question, mobile home park
mobile home question, mobile home park, rental basis: Scammers don t care in what condition you are. If they see a chance to fraud someone they will do it. It s the money they got their eyes on and they will say ANYTHING that will make you give it to them. If it were me (it wouldn t have happened in the first...

Buying or Selling a Home: Purchase with non-finalized permits, pvc pipe, real estate sale
pvc pipe, real estate sale, electrical fire: You resell that house at your risk, Daniel. The house was sold to you as a fraud and now you want to reproduce that fraud and hope the buyer doesn t take the matter to the attorney general (like you should have done). Obviously, Virginia is rather lax with...

Buying or Selling a Home: Query on Rentals, rental properties, discrimination
rental properties, discrimination, rental managers: Hi S. Mahabir, 1. That depends on the state that you are in. I don t know about Florida. Also it is probably going to cost you to do screening and background checks. 2. No, only a real estate agent who belongs to the MLS can list on it. 3. You can screen...

Buying or Selling a Home: Quickdeed on city tax house, Home, taxes
Home, taxes, quit: Hello Cassandra. Thank you for your question. You are definitely on the right track to ensuring you have your new home free and clear of any title issues. Please note I am not familiar with the specific procedures in North Dakota. And, I don t know if...

Buying or Selling a Home: Real Estate Investing help please, buying, selling
buying, selling, investing: Hi Randy, You need to seek the advise of a mortgage broker and see what loans are available for you... the market is tight, but with good credit, income and savings you should be able to get a loan to buy another income property... On the Corp or LLC...

Buying or Selling a Home: Ref: question, assessment number, hall of records
assessment number, hall of records, county recorder: Each county is slightly different, S. But not by much. You may go down to the county hall of records, or county recorder or maybe even online by calling up your county s recorder. They will ask you for your property s assessment number (or similar) and they...

Buying or Selling a Home: Refinancing of our home, greentree mortgage, mortgage servicer
greentree mortgage, mortgage servicer, due feb: Yes, Jack. Just make sure it is a real estate attorney, one that specializes in real estate. Based on how you presented your case, Jack, I get the impression Greentree apparently made a mistake of some kind and they are trying to recover it by harassing you....

Buying or Selling a Home: Rent-to-own vs buying, rent-to-own, purchase a house
rent-to-own, purchase a house: Hello- I can t really answer your question, but these are things that you need to consider. 1) What mortgage/what rate do you qualify for? There are lots of great mortgage programs. Having a good mortgage officer review everyone s credit and income...

Buying or Selling a Home: Require to give home inspector to listing agent after cancel RPA?, residential purchase agreement, disclosure requirements
residential purchase agreement, disclosure requirements, logical reason: Hi Christy. Please ask your Realtor to call the California Association of Realtors Legal Dept. As part of dues this service is free. An attorney will give your Realtor the definitive answer as to whether or not you have an absolute legal obligation. ...

Buying or Selling a Home: Sale of home to relative., certified public accountant, capital gain tax
certified public accountant, capital gain tax, local realtor: The IRS would probably call it a sham sale, Jim (most intra-family sales usually are). And the IRS would frown upon that idea. What did you pay for the house way-back-when? Maybe after you sell it now the price you get for it would not be enough to be classified...

Buying or Selling a Home: selling house in california, hot water heater, www irs gov
hot water heater, www irs gov, giving you the benefit: Hi Mike, I am first qualifying my answer by informing you that I am not an accountant or CPA and cannot give accounting advice. You should check with an accountant or CPA for accurate, up-to-date information. I am, however, giving you the benefit of my...

Buying or Selling a Home: V.A. home loans, jessica bryan, mary carson
jessica bryan, mary carson, google: Hello Joe and Mary; VA assisted loans do require going through the government agency. However; there are several local lenders who can discuss this with you. I would suggest that you speak with a lender in your own bank who can probably provide you with...

Buying or Selling a Home: wallpaper vs. paint, Paint, fads
Paint, fads, selling: I would probably stick to paint at this point and keep the paint neutral. It will be really hard to pick out what the future buyer wants. If you keep your home more basic then the prospective buyers will be able to picture there things in the home and not...

Buying or Selling a Home: life tenancy, title insurance company, little fishy
title insurance company, little fishy, warranty deed: You re going to need title insurance anyway, Mindy, so why don t you order a property title report from a title insurance company of your choice (yes, you may have to pay for it, but then you ll have to pay for it if the deal goes through anyway). To make...

Buying or Selling a Home: Protection of seller, home inspection, holly
home inspection, holly, improvements: Hello Holly, Thank you for your question. I do not know the rules in Arizona, but anyone can sue anyone anywhere for any reason. If you had the work done professionally and with permits and inspected by the town you should be ok. If she sues you you...

Buying or Selling a Home: Relocating, Retiring and Buying and Selling, acreage property, spinning our wheels
acreage property, spinning our wheels, local realtor: Hi Connie; The first thing that comes to mind is a purchase contingent upon receiving answers to all of your questions. In some states the ourchase contract has a provision that says that you have a due diligence period and that allows you to back out of...

Buying or Selling a Home: buying a property for a U 21 USA citizen, usa citizen, tax insurance
usa citizen, tax insurance, buying a property: Hi Bernie, Thanks for your question. There are a myriad of ways to own property. You would be guided by your attorney during the closing process to set up the proper ownership form, trust, corporation, etc. My investor buyers have purchased in both...

Buying or Selling a Home: buying in retirement, retirement, retiring to North Carolina
retirement, retiring to North Carolina, new home: Hi Don; There are several things to consider when retiring. Depending upon your long-term plans, your health, your interests; there are choices that will be personal choices for you. I work with quite a few people who come to me with the same questions....

Buying or Selling a Home: My daughter's house fell out twice!, having such a hard time, poor daughter
having such a hard time, poor daughter, air mattress: Hi Diane, I am really sorry that your daughter is having such a hard time. Did her buyers remove all their contingencies? If so, she can at least fight to keep their deposit. Nothing is ever definite until the loan funds and escrow closes. I think the...

Buying or Selling a Home: Deposit on house!, line realtors, small claims court
line realtors, small claims court, claims suit: You obviously did not have a Realtor helping you to buy the house, Jim. If you did, the Realtor would not have taken your deposit without your signature on the dotted line. Realtors keep the deposit in their office s trust account or have you sign the check...

Buying or Selling a Home: first time home buying, fannie mae loans, home loan programs
fannie mae loans, home loan programs, first time homebuyers: Hi Kelie, First I’d like to apologize for the delay in responding. My email account has had problems for the last week, and I probably have a lot of people angry with me. Technology is great when it works, and horrible when it does not. If you are a...

Buying or Selling a Home: house buying, retirement, friendly
retirement, friendly, mortgage: Hello Don. Thank you for your question. And, congratulations for thinking ahead AND being this close to retiring - YAY! Unfortunately, most of your questions will be personal choices based on factors I do not know -and- I m not the one having to live...

Buying or Selling a Home: preparing for retirement, big mortgage, preparing for retirement
big mortgage, preparing for retirement, wash dc: The advice to get a mortgage or not is confusing at best. If you are in a high tax bracket it may be beneficial to carry a mortgage for the small deduction you get. In your case, with rates the way are, pay cash or as much cash as you can. Look for areas...

Buying or Selling a Home: repair priority, porch roofs, steam radiator
porch roofs, steam radiator, oil fired furnace: Hey, Jim. If you try to sell the house with knob & tube wiring, buyers are going to balk. You can price it right and take that into consideration, perhaps even going so far as to get three quotes on rewiring the house. Getting rid of the K&T would be my...

Buying or Selling a Home: how much down, buying, selling
buying, selling, investing: Hi Don, Well I am not a tax account,but if you are retired and have no earned income, the tax break may not do what you want it to do... contact a CPA and go over your retirement accounts and income and see what makes the most sense to you. where you...

Buying or Selling a Home: Agent compensation, financial challenges, air national guard
financial challenges, air national guard, agent compensation: Dottie Worthington www.worthington-realestate.com I would recommend getting your listing agreement and reading it. That probably states the commission for the buyers agent.It is hard to tell what to do without seeing the offer. I would ask for a...

Buying or Selling a Home: Agent compensation, buying, selling
buying, selling, renting back: Hi Pablo, Sorry for the delay, holiday weekend and all.... hope you have not signed the contract to accept the deal... sounds like a few issues at hand. 1. Is the buyer truly approved? this is a huge issue for FSBO sellers to ascertain, and for good...

Buying or Selling a Home: Agent compensation, financial challenges, air national guard
financial challenges, air national guard, agent compensation: Hi Pablo, Hope you had a nice holiday weekend. Without getting too much in depth since I don t know your states real estate contract, contacting a local real estate attorney is always good sound advice. $500 in attorneys fees now could save your skin...

Buying or Selling a Home: Agent compensation, contract issues, FSBO, limited service agreement
FSBO, limited service agreement, MLS: Hello Pablo - There are local customs and procedures which differ from state to state, and contract to contract so you will need to review your listing (MLS) contract with the listing broker. In most cases if the property is in the MLS there is an offer of...

Buying or Selling a Home: Agent compensation, contract issues, financial challenges, air national guard
financial challenges, air national guard, agent compensation: Hi Pablo. Since I don t have my licenses in your state I will just answer the best I can. The agent may or may not be getting a commission. She could just be nice and doing it for free, but I would definitely ask. That may set you up to pay a commission,...

Buying or Selling a Home: Agent compensation, financial challenges, air national guard
financial challenges, air national guard, agent compensation: Hi Pablo, Let s address the compensation portion first: A listing contract is between the seller and the real estate brokerage firm. When you signed your listing contract to put your home in the MLS, a specified compensation to a buyer s agent was probably...

Buying or Selling a Home: Agent pursued listing to ensure NOT sold., commercial, failure to perform
commercial, failure to perform, Code of Ethics: Hi Wendy - First, you will want to contact the agents supervisor. This person is called the Designated Broker, Responsible Individual or Owner. This person has a statutory duty to supervise the real estate activity of their licensees. Remember, a real estate...

Buying or Selling a Home: Buying vs. Renting, credit card debt, credit score
credit card debt, credit score, cook county: It doesn t appear you would be acceptable to a lender, Elmo. First of all, you would need a 20% down payment. So that means you would need somewhere around $40,000 to cover your closing costs, too. If you were to buy via FHA (they require 3½ percent down payment...

Buying or Selling a Home: closing cost and hiring attorney, GAR Forms, closing costs
GAR Forms, closing costs, Counter Offer: Hi Aaron, 1. If you don t have a Realtor, this is why you should have a Real Estate Attorney (One who specializes in Real Estate). Realtors use the GAR (Georgia Association of Realtors) contracts which have been developed over the years to protect both...

Buying or Selling a Home: closing costs and attorney, Title, lawyer
Title, lawyer, fees: Hi Aaron You will both have closing costs to pay at closing. For the Buyer they may have to pay a lot if they are getting a loan. Could be 3-6% depending on the lender. I would recommend you as the buyer to write up a specific amount in the offer. Not sure...

Buying or Selling a Home: Compensation of an agent..., financial challenges, air national guard
financial challenges, air national guard, rental agreement: First thing you have to understand, Pablo, and that is IN REAL ESTATE IF IT IS NOT IN WRITING IT WAS NEVER SAID. Therefore, no commission would be expected based on what you have indicated, Pablo. Why you would be willing to let someone rent your property...

Buying or Selling a Home: Contract negotiations and agent compensation, financial challenges, air national guard
financial challenges, air national guard, contract negotiations: Dear Pablo, You are asking several questions and I will try and answer them as best I can and how things are done in California. 1. Everything should be written into the contract at this time. Ask the agent what they are expecting in commission and...

Buying or Selling a Home: Discrimation?, Anonymous House Buying, Seller Right of REfusal
Anonymous House Buying, Seller Right of REfusal: Hello- The question you are asking is really a legal question, not a real estate question, but in general, a seller can refuse to sell his house to anyone. Discrimination of a protected class (race, disability, etc.) does not apply to sellers, only to...

Buying or Selling a Home: Home Buying, law professions, house valuations
law professions, house valuations, gmail: As so many millions of homeowners found out for the past six years, Mike, there really is no way to insure the valuation of any property you may purchase. You really should be out doing research to find the property that suits you best . . . before you buy....

Buying or Selling a Home: When to do a home inspection?, due diligence, material defect
due diligence, material defect, satisfactory condition: Dear Katie; Thank you for your question. Normally, a home is placed under contract with a due diligence period that follows for an agreed upon period of time. Depending upon the home and what kinds of inspections will take place, this period of time can...

Buying or Selling a Home: Negotiating a contract, real estate contract negotiating
real estate contract negotiating: Hi Pablo, You may want to see if you can find a professional in your area to help you with this. Ideally a Realtor who may be able to help you get through the details on an hourly basis or a real estate attorney who is familiar with contracts. I don t know...

Buying or Selling a Home: Negotiating a contract, impressive credentials, financial challenges
impressive credentials, financial challenges, air national guard: Hi Pablo, Sorry for the delay in responding. Holiday weekends are always busy for me. Assuming the agent who showed your home and wrote the offer did so based on information obtained in the MLS database, the legal basis for asking for commission is...

Buying or Selling a Home: Negotiating a contract, financial challenges, air national guard
financial challenges, air national guard, rental agreement: Hi Pablo, Thank you for your questions. Let me say that in New York where I work Realtors do not write contracts of sale. Lawyers do that. So I cannot guide you in specifics of contracts. It sounds like a complicated scenario you are involved in....

Buying or Selling a Home: Negotiating a contract, dealing with commission issues, financial challenges, air national guard
financial challenges, air national guard, rental agreement: Hey, Pablo. Your questions are exactly why we have Realtors. I m not a Realtor, but I ll attempt to answer your questions without getting into the realm of what Realtors do since they are licensed in all 50 states, and practicing real estate without a license...

Buying or Selling a Home: Purchase Contract, accepted offer, contract
accepted offer, contract, seller backing out: hello Randall, both buyers and sellers have the rights to act only in accordance to the terms of the accepted offer/contract to which they signed. if the contract allows it there is no recourse, however if the terms did not say the seller has the right to...

Buying or Selling a Home: Stray Deeds, county recorder, legal description
county recorder, legal description, local county: A stray deed technically doesn t exist, Brad. In my 44 years in the real estate business, I have never heard of such a term. It turns out that a local county recorder will not record a stay deed because it most likely does not have a legal description for...

Buying or Selling a Home: Tax on sale of house, tax basis, long island
tax basis, long island, dad: Hello Kathy, Thank you for your question. The tax basis value of your dad s house would be as of the date of his passing. Then the difference between that amount and the selling price less any expenses related to selling the house would be the potential...

Buying or Selling a Home: Terms of a contract, jessica bryan, financial challenges
jessica bryan, financial challenges, air national guard: Dear Pablo; I am currently on the road but will answer you when we get to our destination in a few hours. -Jessica Bryan Hi Pablo; I apologize for the delay in being able to answer. The contract does not (and SHOULD not) contain any information about...

Buying or Selling a Home: Undesireables, jessica bryan, lots of luck
jessica bryan, lots of luck, showings: Hi Randy; Of course there are no guarantees; but you can reduce the amount of people who are not qualified or who are just there to look by listing your home with a reputable REALTOR. If the agent does a good job marketing the home with lots of photos and...

Buying or Selling a Home: add a name to my title, parents name, professional letter
parents name, professional letter, gmail: Since you weren t that clear on which you still owe a mortgage — the mobile home or the land — I am going to assume you meant the mobile home, Jackie. I don t know why you do need to add your parents to the title of the mobile home, but to answer your question,...

Buying or Selling a Home: home title, HARP loans, Equity lines
HARP loans, Equity lines, buying: Hi Paul, Good luck with the Harp I actually did this personally, and it took longer than anticipated but for the most part was the most painless refi I have ever encountered. On the second they show? Did you ever take out an equity line of credit?...

Buying or Selling a Home: Lease To Own, Lease to Own
Lease to Own: Hi Mark... Yes to both... it all depends... The typical person willing to do a Lease Option can t qualify for a conventional loan... or FHA loan... due to income or credit... but keep in mind once the option comes around you still have to get that loan...

Buying or Selling a Home: Seller Cancellation, contract, buying
contract, buying, sellling: Hi Patty, You need to fully read your contact to see what if any if due the agent, they may or may not allow you out of the contract, but you most certainly do NOT have to sell your home. A brokerage may keep the contract through term to be sure you don...

Buying or Selling a Home: undisclosed at sale, real estate lawyer, real estate transactions
real estate lawyer, real estate transactions, independent testers: Eighteen years is probably way too long ago to chase after the party from whom you bought the property, Virginia. Although you should find out what is the Statute of Limitations in this case. I doubt if a real estate attorney would charge you for this knowledge....

Buying or Selling a Home: unpaid taxes, real estate broker, realty transfer tax
real estate broker, realty transfer tax, claim deeds: Those quit-claim deeds are asking for trouble, Reggie. If you want to truly buy that property so that it doesn t all bounce back on you, I strongly suggest you hire a good local real estate broker to help you buy the property. Upon acceptance of your offer...

Buying or Selling a Home: Breech of contract, breech of contract, faith deposit
breech of contract, faith deposit, home in louisiana: Preliminarily and assuming you have no real estate agent working for you, Patsy, I would not give the buyer the beans from my taco dinner. Furthermore, I would hire a real estate attorney to sue them for specific performance and/or show how you have lost money...

Buying or Selling a Home: Condop?, managing agent, little brother
managing agent, little brother, coops: Hello Ivan, Thank you for the interesting question. I had not heard of condop until your question. I went on line and looked it up. You can do the same and get a full over view of condop better than I can tell you. It sounds like they have both...

Buying or Selling a Home: First time homeowner wants to know - Is there any help for us?, first time homeowner, horrible circumstances
first time homeowner, horrible circumstances, board of realtors: My guess is that the sellers knew about that state-run facility, Lori, which is why they sold the house. There might not be any law that covers that, but I m positive the real estate agent knew about it and you might ask that question of a real estate oriented...

Buying or Selling a Home: House Keeping, minor maintenance, maintenance issues
minor maintenance, maintenance issues, keller williams: Hi Again Kenneth, Certainly you can. Realtors hold keys to homes all the time. You have to have a certain level of trust for the person who is watching your home, but if the person is reputable they should be trustworthy, after all you will be paying them...

Buying or Selling a Home: HUD-1 settlement statement, minimum obligation, club charges
minimum obligation, club charges, food beverages: Hi Nicholas, Please forgive my delayed response; I ve just returned from vacation to find this in my inbox. I believe your approach to this matter to be correct. The minimum Food & Bev purchase could be considered part of the HOA dues, in reality. ...

Buying or Selling a Home: owner finance, owner finance, pet restrictions
owner finance, pet restrictions, best of luck: Yes. Naturally, if you do not qualify, in the owners mind, to repay the mortgage then they can reject the contract. There are several other reasons for rejection, depending on the location, development, age, pet restrictions, etc. If they want to sell it...

Buying or Selling a Home: Question, wasting my time, wasting your time
wasting my time, wasting your time, notary public: Hi Tim, I really have no experience with what you want to do. A woman who works in my office has her notary and functions as a travelling notary for signing loans. She is an experienced realtor but I don t know if she has any advanced degree. From what...

Buying or Selling a Home: Refi,need copy of HOA resale Cert and Public Offering, resale cert, escrow officer
resale cert, escrow officer, jessica bryan: Hi Jeremiah; Since the lender is asking fo rsomething quite specific I assume that it is because your HOA has made some changes in their structure. I suggest that whoever you are using for the closing of the refi be involved. If you are using a closing...

Buying or Selling a Home: Getting out of selling contract, Selling, contract
Selling, contract, rent: Noted- spelling correction in this re-send- Hello Martha. Thank you for the opportunity to be of assistance. You are not alone in your dilemma. Every day, in every fast moving market across the nation is facing the same concern. In a seller s market...

Buying or Selling a Home: survey at closing, property boundaries, broker manager
property boundaries, broker manager, board of realtors: Based on what you say, Beth, that Realtor left a lot to be desired. Anything, and I do mean anything, that should have been performed as part of the Realtor s service must be completed. If not, there are a couple ways to make sure it is: Demand that your...

Buying or Selling a Home: 1099 after a sale, short sales
short sales: I should have asked if it was a short sale - so many people are doing short sales that I assumed you were doing one, sorry! You will still receive the 1099 in January 2014 and you will possibly have capital gains to pay if you have made a profit. A tax professional...

Buying or Selling a Home: Better ways to search?, questionable credit, desirable property
questionable credit, desirable property, southwest missouri: You re asking for a most improbable property, Todd. I say that not because I am a Realtor, but because you have to realize what kind of real estate market it is out there. In most cases the market is a seller s market. That means almost any seller can sell...

Buying or Selling a Home: condos, Short sale, harp
Short sale, harp, credit: Hi Steve, There really is no way for her to get out without hurting her credit. I would tell her to try to use the Harp program and see if she can qualify to get an interest reduction so she just has to pay less a month. She could go the short sale route,...

Buying or Selling a Home: Interior Trim, matter of taste, wood trim
matter of taste, wood trim, better luck: Hi Tom, Thank you for the question! My 1929 brick Tudor had original natural wood trim, doors and wood floors when I bought it. So warm and charming and old fashioned! Good for another 100 years! Then I went on a business trip. When I got back my...

Buying or Selling a Home: Occupancy, rent, back
rent, back, agreement: Hi Lyndsey. Thank you for your question. As real estate contracts are always a bit tricky to be certain about, it s great you are asking! I m assuming the seller has a rent-back agreement with you. This would also mean there should be a separate agreement...

Buying or Selling a Home: Real estate
Hi Russ, Thank you for your question. I was an eyewear importer and distributor. Dollar was weakening and my costs rising, competition too. I met some real estate agents and the profession sounded great. No inventory to buy, but plenty to sell. ...

Buying or Selling a Home: Selling My House !
Hi Robert, In today s digital age, there isn t much you can do to stop folks from finding your home for sale online. Correct me if I m wrong, but wouldn t they be happy for you to leave? They may do a great job trying to help you get your house sold...

Buying or Selling a Home: Voiding a realtors contract, Realtor, contract
Realtor, contract, release: Hi Darah. Thank you for your question. You have every right to be upset with your Realtor. She may or may not be on top of things and sharing the facts of each transaction openly. There may not be anything anyone could do better. HOWEVER, what is certain...

Buying or Selling a Home: contract expiration date, broker manager, contract expiration
broker manager, contract expiration, approval letter: How much do your buyers really want the house, Robbie? If your buyers indicate they are willing to pay the taxes shortage, advise the title company you would like to close as per the contract terms and will they then approve the closing. The buyers payment...

Buying or Selling a Home: My daughter bought a house as a "rent to own" but something seems wrong with the contract, childress tx, room mate
childress tx, room mate, loan holder: That is hard to tell without reading her contract. Did she use a Realtor? If so they should be able to read that and help her, if not take to an attorney and have him go over it. If she has the deed, she should be owner and seller the bank, and not have...

Buying or Selling a Home: Investment home, 1031, investment
1031, investment: Yes, but you should discuss with a real estate attorney more details. There are certain time constraints and you need a proxy to hold the proceeds of your existing property sale. Limited information: http://www.homesellinginmass.net/search?q=103...

Buying or Selling a Home: quit claim deed, quick claim deed, empire state building
quick claim deed, empire state building, brooklyn bridge: A notary public can get into big trouble with the events you are reciting here, Tim. First, a notary must keep a journal of the documents he/she had signed in front of him/her. The notary can go to jail and or fined big-time if it is not up to snuff. In...

Buying or Selling a Home: R.E. pressing me to owner finance my home, simultaneous closing, note buyer
simultaneous closing, note buyer, arrangment: If you want, Ginny, I might be able to suggest a name or two. I won t know who they are, but I know where to ask. Just send me your email address. Otherwise, you can ask, too, just by phoning or emailing down there to a broker who might be aligned with ReMax,...

Buying or Selling a Home: RE taxes, live oak florida, rude side
live oak florida, rude side, tax administrator: Hello, The rate they give are you sure it is right? If so, your County rate should be .66 per 100 value? If you don t mind,call back and verify rate, then you take rate x assessed value. You do have to get rate per $100 value 0.0656563 rounds up to .66...

Buying or Selling a Home: Real estate sales, real estate sales, realtors association
real estate sales, realtors association, coldwell banker: Maria: A lot of people have made good money in the RE business, especially in the up times, like now and pre crash of 2007-8. I made millions. I can t answer the compensation guess for Mass but can tell you that the average experienced agent nationwide makes...

Buying or Selling a Home: Selling Inherited Property for Cash, perspective buyers, current market value
perspective buyers, current market value, professional realtor: Hi, Good question, My suggestion is hire a qualified REALTOR, in your area and have them pre qualify the perspective buyers. It will be difficult to 100% check the validity, their Offer and DD fee and deposit will tell a lot about them. My suggest is seek...

Buying or Selling a Home: selling second home, social security income, tax expert
social security income, tax expert, gmail: It is recommended you consult with your tax expert, Harold, because he/she should know your social security income. If you had any income from the second home, it is treated differently than if you are selling your primary home. I do wish you well. Dick Dennis...

Buying or Selling a Home: Front yard lawn to sell home, landscaping, curb
landscaping, curb, appeal: Hi Jim. Thank you for your question. This is an interesting one. As you already know, curb appeal is ESSENTIAL! Unless one s home is in an area where there are frequent drought concerns, and given your location I m guessing that s not yours, the appeal...

Buying or Selling a Home: avoiding last minute sales cancellation
Very good question. Where do you live?North Carolina? if so ask for huge due dilligence fee. If not, ask for large deposit, keep in mind, you might never get the deposit, in 27 years I have keep only 1.If they walk away, you will need to go to court to get...

Buying or Selling a Home: Should I buy a condo at age 62
Hello- This is a personal finance question, and I don t know the full scope of your finances, but based on the information you have given me: 1) Rent, over the long term, goes up. It is generally less than ideal for folks on a fixed income. 2) 30...

Buying or Selling a Home: Should I buy a condo, mobile home at age 62 before I retire
Hi Bob; I am not a fan of mobile homes since they depreciate too much and too quickly. In addition; there are monthly costs associated with living in a mobile home park (if that is what you are considering.) You are better off owning a conventionally constructed...

Buying or Selling a Home: Buying a condo or mobile home at retirement
Hi Bob, Thanks for your questions. If you can pay cash for a condo it will lower you monthly living expense as you will then only have common charges and taxes. And yes, prices are very low now and expected to rise so it would be a good investment...

Buying or Selling a Home: Buying condo or mobile home at retirement, buying, selling
buying, selling, retirement: Hi Bob, Well let me start with, please see a financial adviser... you have been renting all this time, and unless you are paying cash and still have money to live on later, you don t want to tie up your funds on a property that may never get paid off......

Buying or Selling a Home: Buying a home
Most of the questions you posed, Evelyn, should and can be answered by the lender you choose. You will find that lenders prefer that their borrowers have a longer time on the job than what you indicate you have. It would have to be a very unusual situation...

Buying or Selling a Home: Mortgage Company Responsibilities
Based on what you have written, Blynn, if it was me I would immediately contact a good real estate attorney and bring all the papers and agreements to show him/her. Once the attorney takes the case, make sure any fees you are charged in this matter are recompensed...

Buying or Selling a Home: selling home with a tenant
Unless the tenant and the owner agree to part company beforehand, Ray, the tenant s lease must be honored by the old and new owner until the lease expires. Period. The new owner buys the property subject to any and all leases. That s why the buyer must...

Buying or Selling a Home: Title Company or Private Attorney to handle transaction.
There s lots more to this than you perhaps realized, Raul. First of all, you have to make sure you are familiar with the Texas law regarding mortgages (trust deeds) and foreclosures. The law is somewhat slanted towards to the lender, but you as the lender...

Buying or Selling a Home: Want so desperately to own our first home!, mobile homes, Real Estate Attorney
mobile homes, Real Estate Attorney, mortgage lenders: Hello Sabrina, First, there may be some additional expenses you have not taken into account. If you are putting it on family land, you may need a well and septic tank or hook up to a water source already there and an existing septic tank. If the septic is...

Buying or Selling a Home: Attorney Require Signature..
You can have the documents sent to you and sign them in front of a Notary, available at most banks and attorneys offices, and then send the documents back. Have the closing attorney fed ex the docs and include a fed ex return envelope for you to send back....

Buying or Selling a Home: Buying only a portion of land from neighboor
Hey, Lidia. As far as I know, real estate can be sold like that in all 50 states and D.C. In fact, in many states, adverse possession of a neighbor s property, and paying taxes on that property, can result in someone simply walking away with your land,...

Buying or Selling a Home: Buying second home, Sell the farm
Sell the farm: Hi Linda, I m going to throw a bunch of rocks at your ideas and I m going to do it on the basis of old age. Mine. I ve lived long enough to see what you propose cause a multitude of problems. You want to leave the farm to the children . How many children?...

Buying or Selling a Home: I doubt you can help me but here goes!
In your state, Davina, is a man who is known as The Mortgage Professor. He has many years experience. His name is Jack Guttentag and can be reached at www.mtgprofessor.com His expertise is real estate mortgages. He does offer answering questions and problems....

Buying or Selling a Home: Off-grid living in LA, buying, selling
buying, selling, investing: Hi Tim, you need to check with the local zoning to the actual area/plot you are looking to purchase ... there are many zoning restrictions in Los Angeles county and many area by area specific...in order to live on a property you must obtain an Occupany...

Buying or Selling a Home: Neighbors affect your home's value?
Hi Vicki; Any of the neighborhood surroundings affect Buyers opinions of the home that is for sale.This is why Homeowner s associations came into being--to protect the values of the homes by protecting the looks and lifestyle of the neighborhood. Large...

Buying or Selling a Home: Not recieving a coorect Title when I paid in full for a trailer home
Several answers: 1. Go down to the local Police Station and see if the guy has broken any laws, fraud, etc. 2. Go see a lawyer, sometimes there are Legal Aid attorneys who will assist you for free. Like your mother said, never pay in cash, only Bank check...

Buying or Selling a Home: Winter Sale of Property, selling
selling: Hi Connie, I sell in So Cal so we don t have a real winter season... I have a feeling with freezing weather and snow you most likely do have selling seasons... The price a unit commands is always a major point to a sale.. and subjective to the buyers...

Buying or Selling a Home: Condo roof leak, mold, water damage
mold, water damage, ceiling stain: Hello Susan - The property inspection is the most significant part of the purchasing process. During the inspection the inspector is trained to look for these items. If the inspector identified the problem during this process it should be listed on the inspection...

Buying or Selling a Home: no curb appeal
Several questions come to mind....Is it listed with a Realtor? Is it listed in the market price range for your area? There are two things that keep a house from selling. Price and location. One of those cant be changed. Look on Pinterest.com or Houzz.com...

Buying or Selling a Home: CURB APPEAL, selling, curb appeal
selling, curb appeal: Hi Marv, Curb appeal is all about clean and inviting Wash the exterior Pick up all extras (garden flags, gnomes and the wirley birds) Add some pops of color (cheap - they only need to last during the sale) seed, mow make the lawn look lush I d...

Buying or Selling a Home: Who fixes the leak?
Buying or Selling a Home: Who fixes the leak?

Buying or Selling a Home: mortgage
Buying or Selling a Home: mortgage

Buying or Selling a Home: Who fixes the leak?
Hey, Susan. It s not unusual for Realtors to quit representing your interests as they get closer and closer to getting that commission check. Sad, but true, based on my 48 years in real estate. I don t know what state you are in but I will disagree with...

Buying or Selling a Home: house
I m sorry Henry, but nothing you can say or do is going to change anything. You failed to listen when they explained how the mortgage works. You also fail to understand that house prices are not constant and also house depreciate as they get older. Most...

Buying or Selling a Home: house
Hey, Henry. I think your situation is sufficiently complicated that you need a good real estate attorney. Almost all attorneys provide 30-60 minutes of free consultation. Get all of your documents and facts together and go have a talk with one of them....

Buying or Selling a Home: house
Like I said, Henry, you are indeed naive in the ways of real estate. No, once the bank has foreclosed on the house, it belongs to them and they will probably sell it to somebody else for whatever the market is. The house is gone. Pffft! You would have to pay...

Buying or Selling a Home: house
What country do you come from, Henry? I m finding it very difficult to understand you. It boils down to this: Here in the United States, if you do not make your mortgage payments for five, six or seven months after promising to make all your payments in...

Buying or Selling a Home: house
Obviously, Henry, when you bought the house, the real estate agent you used did not explain everything to you. And those friends who lent you the $100,000, do you suppose they will not be expecting to be paid back? You have gone way over my free counseling...

Buying or Selling a Home: house
Henry, Thank you for contacting me and for your question. It is hard to answer your question specifically as I need more information. The bank will charge points (origination fees) and interest for the money borrowed. Both cost are dependent on the...

Buying or Selling a Home: house
Hi Henry. This question is best posed to your local mortgage loan agent. This person will give you a full scope of your options, what is best for you in your financial situation, at the prevailing interest rate in your area. If you are just looking for an...

Buying or Selling a Home: my house has no curb appeal
Yet, according to the information you enclosed, Marv, it was among the top 10% of the houses visited this past week. Go figure. That doesn t say too much if the neighborhood seems to have slow sales. I would like to know who told you it does not have curb...

Buying or Selling a Home: my house was a gift, renting, title
renting, title: It sounds like you are the tenant at the home... not an owner... if you are not on title ... you are not entitled to the property... as a tenant you have tenant rights to your state and county.... the Sub-tenants you have at the house, my or may not...

Buying or Selling a Home: Leak in the roof
You would think so, Susan, but it is not always so. Just have the agent who represented your interests ask the HOA that same question. Different HOAs have different rules. You have to realize buying a condo is not always like buying a regular house. In case...

Buying or Selling a Home: mortgage, money, lending
money, lending, buying: Henry, ??? buy a PC? in 15? money back incl taxes? I never said that... What do you mean the Bank took my House??? Your questions are all over the place... you need to sit down with a lender or take a class in understand loans and interest...

Buying or Selling a Home: mortgage
At 3% interest, the $200,000 you borrow to buy a house would mean you would have monthly payments of ONLY $843 for those 30 years. That is an historic LOW for an interest rate. That means you will have paid just $303,555 over the whole 30 years. That is VERY...

Buying or Selling a Home: Roof leak
Hello Susan, I m so sorry for the situation you find yourself in! Seems to me that the HOA docs should be reviewed to determine the answer to your question. However, I must tell you that you may be liable for the repairs since you signed the contract...

Buying or Selling a Home: Can seller's agent demand buyers contact info
Yes indeed, Susan, there is hanky-panky going on there, including from that agent (real estate agents ARE licensed to sell mobile homes). However, it seems like everybody is trying to muscle in to this transaction. Don t let them. First thing you do is...

Buying or Selling a Home: Water leak in closet ceiling
Sometimes, but I do not know their process there in FLA. I would recommend you make a statement / letter signed by you as a buyer, to the Sellers and ask them to notify the HOA regarding the ceiling and ask them to fix it, all in writing and cc you, I would...

Buying or Selling a Home: Water well inspection
Hey, Kurtis. Texas has very strict regulations regarding what home inspectors can and cannot due. Some of it is, in my opinion, too strict, like telling them that they have to use Times Roman 10pt font on 12 point leading with one inch margins for the page..................

Buying or Selling a Home: Deed question;, Deed, Ownership
Deed, Ownership, Survivorship: Hi- I m licensed in MA and can t answer legal questions about the deed in my home state! Your best bet is a real estate attorney or title company based in PA. They can explain the various permutations of a Deed and what they mean legal in terms of both...

Buying or Selling a Home: Dishonest realtors, Code of Ethics, NAR
Code of Ethics, NAR, Disclosure: Hello Tom - Not all agents are Realtors, only those who are members of the National Association of Realtors. These Realtors take a pledge and oath to abide by the NAR Code of Ethics and Standards of Practice which establish an aspirational ideal and minimum...

Buying or Selling a Home: When to put your house on the market?
Buying or Selling a Home: When to put your house on the market?

Buying or Selling a Home: When to put your house on the market?
Hard question, probably depends on the market in your particular area. Here in South Florida, a good house in a good neighborhood that is fairly priced sells quickly, maybe 90 days at most to closing. Ask around, find the average days on market for Conn.,...

Buying or Selling a Home: New Construction, construction, application
construction, application, lender: Hi Megan. Good question! As you know, we can all -ask- for whatever we want. Whether or not the builder has a legal right would be a question for a legal expert in NC. I m best guessing you are working directly with the builder and not with a Realtor. If...

Buying or Selling a Home: Private Purchase
Rather interesting question, Kee. Real estate is purchased all the time anonymously, especially by corporations and well-off individuals, and also foreign persons and groups. And the sellers do not always know who the purchaser is, either. This kind of purchase...

Buying or Selling a Home: Question about New Home Builder
Hi Megan, Very good question. The question is, is it a custom built home or spec? Keep in mind there is a huge difference. Understand, most Builders want to make sure you are going to get the loan,so they can close the home sale.Remember, this is how they...

Buying or Selling a Home: QUESTION PROPERTY LINES
Hi Ken, When residential property is sold, most Sellers normally do NOT have a new survey done. When a property sells, the lender being used for the buyer’s loan will state whether or not they will require a new survey. If there is a recent survey of...

Buying or Selling a Home: Relocation, selling, FSBO
selling, FSBO, buying: Hi Liz, #1 - Good idea - could be... make sure on the rents you charge you have all expense s covered... not just the mortgage, but ins, taxes and maintenance covered, perhaps even gardening... and run backgrounds on tenants and be sure they can afford...

Buying or Selling a Home: Sell/buy or Repair/rebuild
Hey, Lisa. I m quite familiar with Scottsdale having spent a couple of years there back in the late 1980s. I am presuming $150 means $150,000. What would I do? I would borrow against the house and use that money to fix it up. Let the home s value...

Buying or Selling a Home: selling my house online, international, brokers
international, brokers, real: Hi Jerome. If you don t already have a Realtor in mind to help you deal with document preparation and completion, I would strongly recommend you consult one in your area to ensure you have followed all of the local requirements. You may find the following...

Buying or Selling a Home: shared real estate, investment, property
investment, property, rent: Hi Glen. Thank you for entrusting me with your question. As you know, I am not an attorney. I would recommend, for your own peace of mind, that you ask your question at lawyer.com, for example. With that said, I do have an opinion, of course. And, I do...

Buying or Selling a Home: being sued by home buyer
Diane, Sorry for the delay in responding, and sorry also to hear of the loss of your Mother and now your problems after the sale of your parents’ home. I don’t know about Illinois disclosure laws, but in the State I work, if you were POA for your parents’...

Buying or Selling a Home: Trust Sale
Hello. Good question. In short, it depends what the will or trust says. My suggestion, is get a copy of the trust or will docs and read it. Checks, it depends, see it several ways,again their portion as trust or will states. You might consider seeking...

Buying or Selling a Home: Buying Homes
Hello Kee, Thank you for your questions and concerns! Discrimination is illegal in residential real estate purchase process. The situations you are describing are likely for the purchase of an apartment in a cooperative building. In such cases there...

Buying or Selling a Home: Cap Gains on sale of second home
Hi Richard, Sorry for the delay in answering your question. Your question is more in the category for a Certified Public Account. Check the All Experts site for such an expert. I will give you some basic information per IRS rules in the links below,...

Buying or Selling a Home: purchase price
Hey, Mark. I wish real estate buying and selling was as simple as deducting a certain amount for a certain problem. Unfortunately, it s not. The thing to do is to find out if insurability is affected and, if so, how much the premium is going to be. Claims...

Buying or Selling a Home: sellling, residential property with commercial value, selling
residential property with commercial value, selling, land: Hello Jeff - The only way to determine your property;s value is to ask a REALTOR who specializes in your area to provide you with a comparative market analysis. This analysis will provide you with a report of like properties in the finger or area, and compare...

Buying or Selling a Home: Aluminum vs Copper Wiring
Hey, Nikki. Sorry about the delay in answering you. The AllExperts system is not sending me notices in a timely manner right now. I ve informed them of the problem. My answer here might be totally useless to you because of the AllExperts delay. I don...

Buying or Selling a Home: Home buying assistance for disabled persons
You might want to try your local HUD office to see how you can become a home owner with a disability, Stephen. They do have programs, however, they are not that common. They may even suggest you have someone join you in your purchase, so be prepared. Also,...

Buying or Selling a Home: Home buying programs for the disabled
Hi Stephen, I don t believe you need any special loan programs to aide in your real estate pursuit. Seems like you have W2 income from the state and that can be easily documented for a loan officer. I d suggest contacting a local bank or mortgage loan...

Buying or Selling a Home: Mobile Homes
Hello Bud; As a REALTOR I do not deal in mobile homes unless they are no longer mobile (in other words, they are attached to a permanent foundation). Mobile homes, in the US are not considered to be the best option for home ownership and values are not as...

Buying or Selling a Home: Mobile vs Modular vs Condo
Hello, Thanks for your question. As for modular, it should have a stamp in the electric panel box, listing home as modular construction, and built under the required code for that state, this is how it is done in North Carolina. There are on frame and...

Buying or Selling a Home: Moving from CA to TX
Welcome to Texas, you are going to love it! The lender will require you to have income, and it won t matter about the relocating if it is a same type of job. It can all be specific to your situation. A lot of people do buy a lot and build. We could help...

Buying or Selling a Home: Question ab. Short Sale, short sales, foreclosures
short sales, foreclosures, short sale process: Hi Mike, I am certainly no big shot, just someone addicted to work that has been selling real estate for a very long time. :) And we sell condos to castles. Whether it s a $50k condo or a multi million dollar mansion, we try to treat all our clients...

Buying or Selling a Home: Reverse Mortgages, reverse mortgage, HECM
reverse mortgage, HECM, FHA: Simply, Dennis, I m for it. There are those who reach the eligibility age have concern over their health and obligations, not least of which is a mortgage over their head. And FHA allows a HECM (Home Equity Conversion Mortgage) program that takes that obligation...

Buying or Selling a Home: Sale of Relative Home
Before I can answer your question, Judie, I need to know in whose name was the townhouse registered? If the townhouse has been in your son s name all this time, then it would be considered to be his rental in the eyes of the IRS. And if it indeed was his rental...

Buying or Selling a Home: Buying a house that will increase in value
Naturally, Jo, you need funds for a down payment, which means at least 20% of the purchase price if you want your lender to give you favorable interest rates. You can also buy your property with only 3½ percent down payment with FHA. You should sit down with...

Buying or Selling a Home: Don't know what to do, problem real estate solving
problem real estate solving: I was able to solve a similar problem-property situation a while ago in Michigan with the owner being in St.Louis, William, all the time not moving from this chair. So, if you would describe the property to me, what kind, location, age, etc., I might be able...

Buying or Selling a Home: RTO
Hi Joyce, Typically, no, you do not need to get permission from your lender to rent out your property. HOWEVER, depending on the type of loan you received, there may be a requirement to occupy that property as your primary residence for x number of years....

Buying or Selling a Home: Selling and buying/building..
Hi Chet, I understand exactly what you would like to try and accomplish. However, please keep in mind there is no magic recipe for assuring all will fall into place for you exactly as you hope. If I were you, I would want some kind of general idea of...

Buying or Selling a Home: One spouse responsible for entire refinancing
You re very welcome, Dave. I won t be able to answer the ins and outs of refinancing as the guidelines and private lenders change frequently. My best advice would be for you to visit a mortgage broker. That person will have multiple lenders to choose from,...

Buying or Selling a Home: Trustee Sales
What you can do, Phil, is go down to county trustee and find out what properties they recently conducted foreclosure auctions, within the last month or so. Once you get the addresses, you can then know what the properties sold for. Also, by getting the addresses,...

Buying or Selling a Home: Buying a home, vacation, home
vacation, home, inventory: Hi Katy. Let s just say, I feel your pain...There are many, many agents in the industry who are dedicated, hardworking and unshaken by the current market place. We forge forward and keep trying for our buyers. Others, being human, eventually get worn down...

Buying or Selling a Home: buying a home my rights
Hi James; The previous owner is required to disclose all material facts about a home of which they have prior knowledge. If this can be proved, then it could be contested. Unfortunately; it puts the responsibility on your son to find out what the owner knew...

Buying or Selling a Home: deposit cashed
Hey, Michael. In many states, such as here in California, emails are now acceptable in courts of law, so you might have a good case against the Seller. Notwithstanding that, I believe you definitely have a good case against the seller keeping your deposit...

Buying or Selling a Home: Donating co-inherited real estate
What you have there, Doug, is something akin to a white elephant. Nobody seems to want it at any price and the apparent owners don t want it because of its cost, either. However, what you should be doing is putting your head together with the other two heirs...

Buying or Selling a Home: hawaI@929, kitchen updates
kitchen updates: Hi Dan- Kitchens are about look and feel and materials. Most buyers can see the difference, even if they can t tell why they like it. I could write a very long post here about kitchens, but here are some key takeaways instead. -Wood is NOT wood....

Buying or Selling a Home: Misrepresentation
Hey, Michelle. Although different states have different rules, I would think that regardless of which state you are in, the fact that the garage would not fit a standard car would be a material matter that could affect a buyer s decision to buy, as you...

Buying or Selling a Home: Misrepresentation?, Agency, real estate
Agency, real estate, misrepresentation: Hello Michelle - Agency laws are different in each state however nationally the seller s responsibility is to disclose latent defects or known conditions of the home. The Seller/listing agent must also refrain from puffing or misrepresenting the property...

Buying or Selling a Home: mobile homes vs stick built, transferrable loans
transferrable loans: Hello again It could help, but it might not. One of the questions would be what the rate of the loan is? Is it an old loan with a high rate or were you charged a high rate because you didn t have a credit history when you bought it? Another question would...

Buying or Selling a Home: Purchase agreement question, Real Estate Attorney, Due Dilligence
Real Estate Attorney, Due Dilligence, Earnest Money: Hello Michelle, What you are asking is actually legal pertaining to an Indiana Contract with which I am not familiar. I would presume that Indiana contracts have a Due Diligence clause/period during which time you are suppose to be searching out all possible...

Buying or Selling a Home: sellers agent at inspection
Hey, Michelle. To the best of my knowledge, yes. I don t know of any state that prohibits agents being present at inspections. I have posted the question in one of my resource forums that provides quick answers. If I hear anything different, I ll follow...

Buying or Selling a Home: selling to family
Hello Jan; There are several ways to do this. Depending upon the state in which you live there are different laws that require slight variations. You can certainly change title on the deed. If the home is paid off, then it is an easier process. Otherwise...

Buying or Selling a Home: To Buy or Not To Buy, buying, selling
buying, selling: Hi Michael, Don t worry about the drought, people will live here for a number of reasons, not water pricing.. people have a way of adjusting... on the property, if you are buying new, try to get into an area that is well established, the new homes are...

Buying or Selling a Home: Buy This Home or Not?
Hello again, Michael. Unfortunately, no one is going to be able to set all your fears aside. You are doing the right thing in asking for financial advice. Numbers are very black and white. The housing market, as it depends on people s actions and inactions,...

Buying or Selling a Home: Buy home with gold, Payments in Gold, Judgements
Payments in Gold, Judgements, Trusts: Hi Terry First off, not all buyers will want/take gold,(I would, but that s another story). US dollars are legal tender in America and that s what most folks want at this time. It makes no difference what you pay with, once the Deed is in your name, the...

Buying or Selling a Home: Buying Land or home
Hey, Terry. Total myth. I even went back in time to when the U.S. was on the gold standard. Still total myth. If you own your home free and clear of mortgages, there are two ways that I know of for you to lose your home: (1) via eminent domain,...

Buying or Selling a Home: buying.selling
Hi JoAnne; I can understand your confusion since moving is stressful and there is always so much to think about and do. However, you seem to have come up with the right solution for you as you talked through your choices. It was clear to me that your preference...

Buying or Selling a Home: buying/selling
Hi Jo Anne, What a wonderful situation you find yourself in with a paid-off house! If you are in no hurry as you say and don t need to sell the ND house to purchase a new one, it may serve you best to go ahead and find one in Texas first. Prices in...

Buying or Selling a Home: buying and selling, Home Selling, Home Buying
Home Selling, Home Buying, Process: Hello JoAnne - This is an age-old question that has plagued homeowners for years. Many don t seek assistance and the daunting task ends in emotional distraught and the decision not to move at all, however those that do seek advice realize the although the...

Buying or Selling a Home: buying, selling or both
Good to see that you re flexible about changing residences, JoAnne. It s nice when you own your home free and clear. It allows you to complete your goal sooner rather than later. However, there may be two additional ways that would permit you to complete...

Buying or Selling a Home: Gold payemnts home
Here in America, Denise, it doesn t make any difference which way you pay for a home. If you have gold equivalent to the price of the home, I am sure the bank, the real estate attorney or Realtor involved in the transaction would arrange for proper payment....

Buying or Selling a Home: Home/Land gold payments, buying, selling
buying, selling, retirement: Hi, That would be news to me... cash, gold, an auto, what ever the seller is willing to take in exchange for the land and home, sans a mortgage you are free and clear... do keep in mind you will always have taxes to pay (property tax) from the town, city,...

Buying or Selling a Home: Home and land payments
Good question, Have not heard of this as payment of property, except back in the old days, ie gold rush times.. But I am sure it will come back due to the popularity and value of gold. In my many years of doing this business,most people will want the...

Buying or Selling a Home: Home/Land, land, house
land, house, gold: Hi- I m making a couple of assumptions when I answer this, so note these first. 1) By Gold Payments, you mean purchase a home with Gold. I m not clear what else gold payments could be (some kind of annuity? shares in the GLD?). So I m going with just...

Buying or Selling a Home: Lands/Homes with gold
Hi Liz, I have never heard of a home being exempt from liens, judgments, etc, simply because someone may have paid for it with gold. I am using logic only here, but here is my opinion: (1) If a house has no mortgage on it (it is free and clear of...

Buying or Selling a Home: Listing Agent
Hello David, Thanks for your question, while this is only my opinion, and as a REALTOR, I can only offer what I do as a REALTOR. While I am sure your agent is doing a great job, sometimes the market is tough. Here are some suggestions, have a review of...

Buying or Selling a Home: Manufactured Homes
Hi Chris; A manufactured home can be a mobile or modular home. The term manufactured means that it is assembled in a factory either as a whole or in sections and then joined and assembled on the site. A modular home generally has a better appreciation value...

Buying or Selling a Home: Payments of gold
Dear Marsha; The seller doesn t usually care how he/she is paid a long as the price is agreed upon. Usually a Buyer secures a mortgage for the bulk of the cost to buy the home. This may be the source of the information you were given about paying in gold....

Buying or Selling a Home: Payments for Lands and home
Never heard of that. The home would be free and clear if you paid with US currency or gold. If you do not mortgage the property, then you will have the deed in your name without a lien. Now, you may have a problem with a Title Company taking gold as a payment....

Buying or Selling a Home: about relocating
JoAnne: Questions, questions. I ll tell ya what we did. We sold our house in Mass. and moved to FL to a small condo we bot cheap then scouted around and purchased the home we wanted. Next time I would sell everything and buy new stuff when I moved, why...

Buying or Selling a Home: relocating, relocation, buying a home
relocation, buying a home, selling a home: Hi JoAnne, Sorry it took me so long to respond to you, but I just came back from vacation late last night! Anyway, it sounds like you have an ideal situation, and you can do whatever makes YOU feel the most comfortable. Personally, I prefer to move...

Buying or Selling a Home: relocation, relocating, storage
relocating, storage, moving: JoAnne, This sounds like an exciting move and congratulations on building equity in your North Dakota home that will provide you options! First, I would advise sitting down with your tax professional to understand any tax implications to selling your...

Buying or Selling a Home: Buying my Mothers home?, pre-foreclosure, past due
pre-foreclosure, past due, mortgage: Hello Jasmine - To begin, you can anticipate that during the first 15 years a majority of the payment goes to interest not principal. You will need to have her contact her lender to ask for a payoff amount to be certain of the amount. Next, the next reasonable...

Buying or Selling a Home: Settlement Date Change, Well Water, Settlement
Well Water, Settlement, Closing: Good Morning Joe - It is an agent s duty to provide you with all the necessary information for you to make a decision that best fits your needs based on a current situation. If you don t fully understand what, and why, a situation is happening you should contact...

Buying or Selling a Home: Buying a House
Yes, not every state has laws that requires the seller disclose criminal activity, a murder and being haunted, Sheri. If you have a concern with any of those, simply have your agent ask the seller s agent. Every agent is supposed to reveal whatever he knows...

Buying or Selling a Home: Fixing Up House to Sell
Definitely stain, or remove the knotty pine in the bathroom as well. Bathrooms and kitchens are the biggest draw or detractors in the sale of a home. If these rooms do not appeal, the home will be difficult to sell. Updated bathrooms and kitchens give the...

Buying or Selling a Home: Going from renting a house to selling it
Lotta answers here, mostly depending on what contracts you signed with your agent. Typically, here in Florida, once an agent procures a tenant they get paid and that s it, the tenant is yours. Per chance you are having the agent manage the property, they...

Buying or Selling a Home: Going from renting a house to selling it
Hi Pablo, I wish I could answer your questions, but all of them depend on what is in the contract that you signed with the property management company, and also may be subject to local/state regulations. For example, in Las Vegas the contract used by our...

Buying or Selling a Home: Going from renting a house to selling it
You obviously must have signed a rental listing form with your agent, Pablo, stipulating how much commission is paid to his company. The fact that they are being paid 10% of the rent tells me that. The listing form may say somewhere within its paragraphs...

Buying or Selling a Home: Going from renting out to selling a house
Hi Pablo; Your question has a couple of possible answers depending upon what your agreements were and how they were written. If you have a contract with the rental agent was there anything about the duration of the contract? Once the contract expires you...

Buying or Selling a Home: Selling land
Hi Lisa, I know nothing about Hill County Texas, but I would suggest you contact a good real estate agent close to where your land is located (or in the next largest city) who possibly specializes in land sales has a LOT of these transactions. To find...

Buying or Selling a Home: Selling the largest house in the subdivision, selling
selling: Hi Helon, I ll keep this real simple... your questions quite long... A home is only worth what a buyer - at the time the home hits the market - is willing to pay for it.. period Having the largest home does NOT get you highest dollar per sq foot... having...

Buying or Selling a Home: selling the largest house in the subdivision
Your parents did you no favor, Helon, by building add-ons and extensions which apparently made little sense. There is one thing we Realtors always advise, and that is NEVER, NEVER buy the biggest and most improved house in a neighborhood. It seems as if the...

Buying or Selling a Home: Cost for larger houses
Hi again; So then it is just about the house and I made a few suggestions about how to go about estimating the costs...looking at utilities, consulting with a local real estate agentand asking the owners the key questions. If you are currently a homeowner...

Buying or Selling a Home: home improvment
It looks like you re really learning the American way of life, Shideh. If functional is really important to you, then I would use the equity in your present home to buy your next house. Let the rental remain a rental, because if you handle it correctly, the...

Buying or Selling a Home: tenant renting a foreclose home
As long as you know who the new owners of your property are, Sophia, and you want to stay there as a tenant, find out their addresses so you can send them the rent that you have been sending. As long as they accept the rent from you, you can stay there as...

Buying or Selling a Home: Changed my mind about selling, buying, selling
buying, selling, investing: Hi Nancy, I do not sell in Maryland, so your laws and contracts could very well be quite different from Caifornia.... As an ethical realtor, if you tell her she should release you from the contract and hope to keep you in her data base, that someday you...

Buying or Selling a Home: Selling our residence as a home and not a B&B
Hi Darlene, Your questions raise more questions than answers for me, because there are too many unknown factors I am not aware of. I am, however, making comments below for you. You should consult with a CPA for tax advice. I am not an accountant...

Buying or Selling a Home: Buying directly from owner
Pat, The agent will most likely charge a commission and assume in this case you will pay. However, commission is negotiable and maybe you can negotiate lower for minimal services needed or split it with the seller. If you have someone you know and trust,...

Buying or Selling a Home: Calculating balcony sqft in total sqft
Hi Pablo Normally for a part of the home to be included in the sq ft as liveable it would have to be heated and cooled. The porches, garage, etc have value, just not as much as liveable space. I would be glad to recommend a good agent in Austin or San...

Buying or Selling a Home: condo
Hi Lee, If the question was about Nevada, I could have answered it, but these are actually legal questions specific to the state of Texas. I hit the button to send it back to the question pool because I was hoping that an agent from Texas would see it...

Buying or Selling a Home: sale of condo
Hi Lee; Each state differs slightly in common practices but I know that in our area we do not look at the actual deed (though it is always nice to verify ownership). Instead, I always check tax records to be sure that they correspond with the owner who wants...

Buying or Selling a Home: selling house internationally
Hi Jerome; As a REALTOR it is difficult to advise people to list their homes for free since I offer a service that people pay for. I subscribe to an international service but since that is something that costs money it is not what you are asking for. Selling...

Buying or Selling a Home: Direct sale/no realtor
Hi Ed, so sorry to hear about your mom. I also lost my mom in February and I know how hard it is. Anyway, you really should have a professional appraisal on the property to determine the true value. It s hard to imagine that someone who is in the business...

Buying or Selling a Home: $250 or $500 tax exemption selling prime residence, death taxes, tax exemption
death taxes, tax exemption, heirs: I think you are fine... Death Taxes apply... this is a Tax Questioon but I beleive you are covered. Each spouse would get $250K Tax free every 2 years.... I believe you get his $250K tax free under his death Taxes... which I believe is now $1.2 Million...

Buying or Selling a Home: 2nd Party grant deed, baloon payment, grant deed
baloon payment, grant deed, 2nd mortgages: That is so unbelievable - I can t believe there are crooks like this out there, I m so sorry this is happening to you. On the Grant Deed, does it say $30,000? If it is for $30,000 and he already took your motor home, you only owe the difference between the...

Buying or Selling a Home: 30 vs 40 Year Mortgages, fixed rate mortgage, year fixed rate mortgage
fixed rate mortgage, year fixed rate mortgage, amortization period: You are correct that a 40 year mortgage means more interest in the long run, but it does have lower monthly payments because the amortization period is longer. An 80/10/10 loan is one where there are two (2) mortgages and a 10% down payment. 80% of purchase...

Buying or Selling a Home: 4 sale buy owner question, contentious negotiations, buy owner
contentious negotiations, buy owner, purchase contract: Hey, Adam. Absolutely! The problem you might run into is that many sellers, regardless of whether it is a FSBO (for sale by owner) or a listing agent involved, won t let someone on their property for such an inspection until there is a signed purchase contract....

Buying or Selling a Home: $40 thousand dollars?, todd thornton, time home buyer
todd thornton, time home buyer, first time home buyer: Kassandra, Each state and/or city may have special assitance programs in addition to those offered through the Federal government. Each program can have it s own conditions and qualification depending on who s providing the money so I d suggest you contact...

Buying or Selling a Home: 5 properties, jessica bryan, investment packages
jessica bryan, investment packages, ebay: Dear Chris; I understand (and feel) your frustration! When one becomes a landlord, there are certain risks involved. You are experiencing the risks and now must face the consequences. Something you can do is package these homes together and advertise them...

Buying or Selling a Home: 72 HR CLAUSE, hr period, earnest money
hr period, earnest money, inspection period: Hi Kim, Thanks for your question. Why did you have to put a for sale sign in your yard? Was your offer contingent on listing your house? In Arizona, we have a clause that says the seller will get back their earnest money if they cannot in good faith obtain...

Buying or Selling a Home: 8 yr old 3br 2ba singlewide, 3br 2ba
3br 2ba: Hi Richard...give me some more info. Where is it located, how much is space rent, why do you think it s not worth that much? I m in California...prices here have gone up considerably! Maybe you are better off than you think....email me through here, or...

Buying or Selling a Home: Abandoned homes...., tax maps, counting houses
tax maps, counting houses, approximate location: Hi Jessica, That sounds exciting. You need to start with a map and try to figure out the approximate location on the map. Then go to the local tax assessor s office where they have all the records of the property owners as well as tax maps which show...

Buying or Selling a Home: Abstract/Deed/Survey mixup, auditors office, abstract state
auditors office, abstract state, title company: Since you have your property sold, Steve, let the title company who is handling the sale take care of it. They may get it remedied with the title company that took care of the purchase of your property. If there is an attorney in the picture, the title...

Buying or Selling a Home: Access to MLS sales information by non-agent., jot down, mls sales
jot down, mls sales, local realtor: There s a couple of thing you can do. 1.) Call an agent or two and tell them that your only thinking about selling, and could they send some comparable sales out to you via e-mail or mail. If they offer to come out, use your own discretion, but make...

Buying or Selling a Home: Add Sister to Home Title, nw dc, financial arrangement
nw dc, financial arrangement, tax considerations: Hello Ameila, thank you for your question. What is not really clear to me - if you bought the house from your sister, she is no longer an owner. So, unless she gave you such a really great deal or has helped to fund the improvements or has some undisclosed...

Buying or Selling a Home: Adding children on the grand deed title, grand deed, company charges
grand deed, company charges, claim deed: You can add your sons to title via a quit claim deed. An escrow company can usually assist you with this. Once the deed has been correctly filled out it needs to be recorded. The only charges should be whatever the escrow company charges for their assistance...

Buying or Selling a Home: Adding children on the grand deed title, grand deed, escrow agent
grand deed, escrow agent, california broker: Very easy, Yan. Instruct your escrow agent to add your sons to the title on the Grant Deed. The escrow agent will ask you how you want to take title, joint tenancy, tenants in common, etc. She will say she cannot advise you which way is the best way, and that...

Buying or Selling a Home: Adding somebody to deed, homestead exemption, warranty deed
homestead exemption, warranty deed, jane doe: Very simple, Heather. Do it this way: Jane Doe hereby deeds xyz property to Jane Doe and Heather Doe as joint tenants. Check the proper wordage your state uses, but I am sure you get the idea. You have the Warranty Deed signature (your mom s) witnessed...

Buying or Selling a Home: Adding Name to Title, types of ownership, clerk of the court
types of ownership, clerk of the court, legal implications: Hello Deborah and thank you for your question. Sorry but holding title in real estate has legal implications and I am not permitted to provide you with that advice. Since it s your spouses property, he is going to have to initiate the proceedings, you...

Buying or Selling a Home: Adding a person to a Home Title, mortgage interest credit, credit numbers
mortgage interest credit, credit numbers, title question: There should be no problem for you to deduct mortgage interest from your tax return . . . as long as YOU ARE on title. It doesn t matter if your mother is the only one who is on the loan. However, I strongly suggest you try to be on the loan, too, because...

Buying or Selling a Home: Adverse Possession in California, adverse possession california, temporary fence
adverse possession california, temporary fence, empty lot: You left out, hostile and open, Jim. That s why you may see a wire or temporary fence across the access of a property for at least one day a year. It is to take care of the hostile and open requirement. You must pay the property taxes (all of them,...

Buying or Selling a Home: Advice, keller willimas, local realtors
keller willimas, local realtors, builders developers: Hello Adam, Typically your managing broker will give you a schedule and business plan to help you get started. Typically though, they will give you advice that will not work for you. It s rare to find a good broker that will take the time and have the approach...

Buying or Selling a Home: Advice on buying a mobile home, rachel c, del rey
rachel c, del rey, buying a home: Hi Rachel, You are right, there is a lot to consider when buying a home. I have lots of questions for you also. Why not call me when you have a few minutes and I will assist you as much as I can.....office #310 212 1399 cell #310 386 1061.... ~ Michae...

Buying or Selling a Home: Advice needed Asap!, part time job, unemployement
part time job, unemployement, financial troubles: Victor, Don t give up hope now, since all you been through. There is a lot you can do here. BTW- Sorry to hear all of this you been through. Hope things pick up for you. Anyway, Lets see here. Many options here. Since they are on the title and...

Buying or Selling a Home: Advice?, upscale gated community, first three months
upscale gated community, first three months, sphere of influence: Adam, Builders and developers are not interested in nonexperienced agents! They are looking for well established agents with a solid history of sales behind them. If you have been in another type of sales, and have an accomplished record to show them, you...

Buying or Selling a Home: Afraid that the Sell of our house has gone sour, earnest money, real estate agent
earnest money, real estate agent, real estate agents: If you didn t close on January 2 I would put your home back on the market and even consider moving back into it. You have to weigh the downside of having two mortgages and getting out of your lease early. What would the penalty be for leaving your lease? Maybe...

Buying or Selling a Home: Same Agent?, little break, best of luck
little break, best of luck, commissions: Hi Joe, It doesn t really matter but if there is an agent that you find and you like them, then it might be easier to use the same agent. Also, since there would be 2 commissions involved, you might be able to get a little break on your selling commission....

Buying or Selling a Home: Agent and Broker won't work with us, metropolitan paper, contract time
metropolitan paper, contract time, type books: As long as those people were not introduced to your property by your agent, you have nothing to worry about. YOu may do as you please once the listing is expired. The only time that 6-month period kicks in is when a list of potential buyers was given to you...

Buying or Selling a Home: Agent trying to revoke accepted offer, time land, credit money
time land, credit money, land loan: Based on what you have said in your note, you have an accepted offer. And that s that. It s up to you to get the money to give cash on the deal. Your purchase agreement calls for you to close the escrow with the cash. So go get the cash and put it in escrow....

Buying or Selling a Home: Agent on Vacation?!, multiple listing service, showings
multiple listing service, showings, open house: Dear Sue, If it were me I would call the agent and ask to see her in a few hours to go over the listing and discuss marketing...or have someone call her directly and request a showing. See what happens. If she is, in fact, on vacation she will be able...

Buying or Selling a Home: Agent, dear old dad, nest egg
dear old dad, nest egg, reserve money: Kentucky license law is different, but in my home state, the classes and fees totalled less than $500. However, a large pool of capital, a nest egg , is necessary because nobody makes it in Real Estate over night. You will need to have enough money to...

Buying or Selling a Home: Agents, personalized marketing, broshure
personalized marketing, broshure, familiarization: Dear Miguel: If you are considering listing your home, look around and see what top three agents and/or top three companies are the leading ones in your neighborhood. If you are seeking a new home, drive around the areas of choice and make the same determination....

Buying or Selling a Home: Airport is aTrouble?, southern california desert, palmspring
southern california desert, palmspring, del taco: Hi Eric, Thank you for the question. You think the property is underpriced compared to properties in other areas? Then the airport effect has been factored into the price already. The airport can be a plus. Find out what type of planes will be there...

Buying or Selling a Home: Airport is aTrouble?, southern california desert, palmspring
southern california desert, palmspring, land and houses: i think u should talk to some RE brokers without being specific re your ideas/concerns re this exact spot. see what they find re land and houses near muni airports. I like the sound of airplanes but that is me. thanks i would buy there. kkemper1@mindspring.co...

Buying or Selling a Home: Airport is aTrouble?, southern california desert, residential rental property
southern california desert, residential rental property, palmspring: Eric, You could buy it for residential rental property, and the value would likely go down when the airport is built. You could buy it for commercial property (make sure you can get it re-zoned first, though), the value will likely go down at first,...

Buying or Selling a Home: Airport is aTrouble?, southern california desert, palmspring
southern california desert, palmspring, del taco: Eric, First of all the agent is required by law to tell you about this!! Why don t you poll the current tenants and ask them about their willingness to stay if this airport is constructed? Then figure out how much rent you are going to have to charge to...

Buying or Selling a Home: Airport is aTrouble?, southern california desert, palmspring
southern california desert, palmspring, del taco: I think I responded to this question previously, but in case it did not go through, I do not have enough information on the particular property or market to offer an opinion on whether this is a good buy. Sorry. Jay Rotenberg, President State Mortgage...

Buying or Selling a Home: Airport is aTrouble?, southern california desert, palmspring
southern california desert, palmspring, del taco: Eric, Its hard to answer your question long distance. There are a number of somewhat conflicting clues. For instance you say that this is a nice area, yet the the primary location seems to be on a commercial street. In addition, the condos are rented...

Buying or Selling a Home: Airport is aTrouble?, southern california desert, location location location
southern california desert, location location location, palmspring: Hi Eric, As a rule of thumb, the one thing that always rings true is location, location, location. People will get over the fact that it s near an airport if they are happy with everything else around it. If it is newly developing, now is the time to get...

Buying or Selling a Home: Ameridream/Niahmiah, hud fha loans, payment assistance programs
hud fha loans, payment assistance programs, giving away money: Yes, Bonnie. Check with HUD (search HUD on the Internet). Recently they initiated a program in which those with little or no money for down payment can buy homes. But, please be aware of a few things: They are not going to be giving money away for nothing....

Buying or Selling a Home: Answer revised... 75% (4 x $550) = $1,650, income to debt ratio, investment properites
income to debt ratio, investment properites, employment requirement: Hi Wayne: Great Question...and an easy one, believe it or not, to answer. Underwriter s count 75% of your projected income as an asset; therefore, as long as the income is 133% of your monthly debt service (i.e., monthly principal and interest payment...

Buying or Selling a Home: Apartment Building, debt to income ratio, positive cash flow
debt to income ratio, positive cash flow, small apartment: Dear Rev. Riker, Thank you for your question. Let me attempt to address your concerns to the best of my knowledge, and if you need further clarifications or have additional concerns, please don t hesitate to contact me at rmijares@valueinflow.com. Also,...

Buying or Selling a Home: Apartment Building, rental collections, being a landlord
rental collections, being a landlord, realtors brokers: Rev. Riker - thank you for your submittal. My initial answer to your question would be to think outsite the realm of realtors / brokers and listings and get focused on the fundamentals of the investment purchase you are considering making. In short, there...

Buying or Selling a Home: Apartment Building, residential realtors, northridge california
residential realtors, northridge california, commercial realtors: Dear Rev. Riker: Residential realtors handle properties that have 4 or less units, otherwise the properties are considered commercial and are handled by commercial realtors. When a person needs to buy a property with no money down generally gets two loans:...

Buying or Selling a Home: Appraisal Info - Websites, montgomery county maryland, zillow
montgomery county maryland, zillow, whirlpool tubs: If you want a second opinion when you get your appraisal, call a licensed Realtor and ask them to come out and provide you with a CMA . This is a market analysis and although not as lengthy as an appraisal, does give a more accurate picture of a home s value...

Buying or Selling a Home: Appraisal for Selling my Home, earnest money deposit, s market
earnest money deposit, s market, purchase agreement: As long as a legitimate offer was made by the buyer with a valid earnest money deposit and the seller has accepted it at the price offered (subject to any conditions), then you have a valid purchase agreement. If you haven t signed your acceptance at the $115,000,...

Buying or Selling a Home: Appraisals, getting a mortgage, loan package
getting a mortgage, loan package, national forum: As this is a national forum you had a 1 in 50 chance of me being from Arizona. Unfortunately I am not. However, in almost all areas of the country an appraisal is required as part of a loan package. If you are not getting a mortgage from a lender, ie....

Buying or Selling a Home: Appraiser and Realtor, real estate sales, strange situations
real estate sales, strange situations, principal broker: I would meet with he and his principal broker. Sort out if he is or is not representing you exclusively. It sounds like his fiduciary relationship is in trouble and maybe he just does not know what is happening. Be fair but set clear expectations. ...

Buying or Selling a Home: Appraisers in GA, bank lender, appraisers
bank lender, appraisers, real estate agent: In my market, Athens, a typical appraisal runs from 300 dollars up, depending on the situation. I say up because if it is new construction, the appraisal may be done in stages and cost more. There is also a difference between a drive by appraisal that...

Buying or Selling a Home: Apprasial, desirable location, satisfactory answer
desirable location, satisfactory answer, judie: If you want to save this deal, I would first contact either the buyer or the buyer s agent to ascertain whether the buyer is truly interested in your home, or just used the appraisal to get out of the deal. If buyer is interested and just backed out because...

Buying or Selling a Home: Apprasial, independent appraiser, extra fees
independent appraiser, extra fees, interest rate: Hi Laura, Thanks for the question. Not usually, unless you get a loan that allows for that. If it does, you ll pay extra interest rate and sometimes extra fees. Most loans will only be based off the sales price. Anyway, if you re going to 100% financing...

Buying or Selling a Home: ARM "principal and interest" vs. ARM "interest only", boca raton fl, state mortgage
boca raton fl, state mortgage, index increases: The main differences between an interest only and a fully amortizing (principal and interest) loan are the monthly payments at the time your receive the loan and when the interest only payment period expires. Lets use $200,000 for example and the program...

Buying or Selling a Home: Architectual Salvage/Tear Down, granite tile flooring, wood beams
granite tile flooring, wood beams, mortgage purposes: Hi Jessica, Thank you for your question. We don t do that in the area where I work & I never heard of an agent recommending that for a faster sale. If you have any hesitation, get a second opinion. You may have signed a listing agreement, but you can always...

Buying or Selling a Home: Artificial Inflation, jessica bryan, comparable properties
jessica bryan, comparable properties, asking price: Hello Dennis; If I understand your question, you are asking about Sellers asking higher prices on their properties. This is perfectly okay as long as there are buyers willing to pay for the property at the higher price. Sometimes, lenders are hesitant to...

Buying or Selling a Home: Asbestos not disclosed, probate sales, aqmd
probate sales, aqmd, probates: Your agent should have found out for you and told you. If you had no agent then the listing agent should have given you something to the effect that this property may have problems with it and the buyer is totally responsible to get their own professional...

Buying or Selling a Home: Asbestos, asbestos removal, removal contractor
asbestos removal, removal contractor, basement floor: Gilbert, If the tile is in good condition then it is best to leave it alone. Asbestoes is not a problem unless it is breaking up, a condition called friable. In that case you need to get a certified asbestos removal contractor. Do not try to remove...

Buying or Selling a Home: Aspiring real estate agent, kenneth w edwards, real estate career
kenneth w edwards, real estate career, todd thornton: Tishaenah, This format is too limited for me to get into all the details but I d suggest you look for a book called Your Successful Real Estate Career by Kenneth W. Edwards. It s designed to be a truthful look at the real estate business. You ll...

Buying or Selling a Home: Aspiring real estate agent, realtor coldwell banker, being a real estate agent
realtor coldwell banker, being a real estate agent, buyer customers: Hi Tishaenah, Thank you for your question. Real estate sales is an exciting career, but not for everyone. Income is not on a steady basis and if you don t work or are not good at working with people you will not have an income since income is commission...

Buying or Selling a Home: Assumption of property, dave crockett, loan contracts
dave crockett, loan contracts, chariot: Hi Josie....you are in a bind, for sure. The term assumption is sort of like chariot , not heard much anymore. The lenders basically would reevaluate your buyer as a new loan....your desired amount could be the figure they use. A lot depends on the park,...

Buying or Selling a Home: Auctioneer/realtor commission, realtor commission, illinois resident
realtor commission, illinois resident, auctioneer: Hello Bonnie, 20% is not unusual as you might think even though traditional Realtor marketing is typically at 5-6%. In many instances the cost of carrying a property can add up to or exceed 20% of the value of the home. So is that high, not necessarily....

Buying or Selling a Home: abandoned home, schuyler county, detective work
schuyler county, detective work, good luck: HI Tori, Thank you for your question. All you have to do is visit the town/village/municipal hall where the building department and tax department are and they have record of the current owner. Then you can try to make contact. If you don t want...

Buying or Selling a Home: how to get an abstract, abstract company, encumbrances
abstract company, encumbrances, local real estate: You don t need your abstract at this time. Your Realtor will have it prior to meeting with you to sign the listing. Or the local real estate attorney. Or for whatever reason, you can walk into a title (abstract) company and ask for the information you want....

Buying or Selling a Home: access to mls listings..., appraisal value, homemaker
appraisal value, homemaker, mls listings: No.... I would get your license if your really want all the data. Here in my market the only thing you can not get is the address... I have clients that get all of the updates every day that they most want including the address... It just depends....

Buying or Selling a Home: accusations of failure to disclose, taking possession, settlement attorney
taking possession, settlement attorney, terminal cancer: Hello again, Ok = if the buyer did not discover these new problems during the home inspection or by doing their own due diligence, and signed off at closing that they accepted the the house in the condition it is in at the time of closing - that is that....

Buying or Selling a Home: What actual ethical code is she breaking?, appointment time, ethical code
appointment time, ethical code, ethical guidelines: Marc, I can tell by the length and detail of your questions that you are extremely frustrated and angry. I am going to address some of the issues and tell you what you can do. What is missing is how this transaction occured and whether the real estate...

Buying or Selling a Home: add person to title after escrow closing, second person, title company
second person, title company, escrow: Michael, Hello there and thank you for your question. It is rather easy to add a second person to title. Contact the title company that you closed with and let them know that you would like to add a second person to the title and they will let you know...

Buying or Selling a Home: How much does adding a garage increase home value, hampton roads area, adding a garage
hampton roads area, adding a garage, jessica bryan: Dear Terry, According to a recent survey of REALTORS across the country a two car garage adds some value to a home. Depending upon the area in which you are located this value can be anywhere from $2,000 to $10,000. A good deal depends upon weather in the...

Buying or Selling a Home: adding partners in grant deed, grant deed, three names
grant deed, three names, husbands and wives: Let me begin by saying that I am not an attorney, and am not giving legal advice. Getting the extra names on the title will be a simple item for an attorney to do. However, I recommend you speaking to an attorney about tax law in this situation. In GA,...

Buying or Selling a Home: address on MLS, seasonal market, hury
seasonal market, hury, newport news va: Happy St. Patricks Day Melvin. Thank you sir for your service to our country. First, when you listed the property, did this agent show you comparative homes also for sale and that have sold recently in the area that yours is located to help you determine...

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: Dear Fars Karam, Thank you for your questions. It sure sounds like you have difficult decisions to make. Right now you seem to have a fairly comfortable living situation and are happy at home and on vacation when you can go. You have also saved a...

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: You cannot expect the government to pay your living expenses!! That would be asking nonfamily members to support you!! You have been very fortunate so far, and if you are engaged and planning to get married, then you need to discuss this matter with your...

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: Fars: Based on the information you have given me, my suggestion to you is to try and get further education in the evenings. You need to better your position in live. Making what you are now is probably not going to get you a home or even be able to...

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: Hi Fars, Thanks for the question. It sounds like you really want to move on on your own and owning your home is a great thing. It really just comes down to a personal decision about which situation you feel most comfortable in. You are correct, that...

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: Dear Fars; Good for you to be thinking through all of this before taking action that might be irresponsible! Saving money by living with the family is a good way to get ahead. By saving $40,000 you have a good amount that can be used towards a down payment...

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: Dear Allexperts visitor: My suggestion is to get married and live in the same place where you are until you are able to make more money, but be aware that should not be long: possibly a year. That means that in a year or so you should be able to make more...

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: Dear Fars, Congratulations on your upcoming nuptials. The questions you are asking really pertain to your ability to qualify for a mortgage and make the payments. All of these should be referred to a mortgage broker rather than a real estate agent. They...

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: Hi Fars, Wow, you have some important decisions to make. I wish there were a simple answer for you. I am not a counselor, but I think you have already zeroed in on a potential problem of buying a bigger house and continuing to live with your family...

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: Fars, Thank you for your question. Also, you should be applauded for your level of thought and analysis around the situation. Clearly, your family is very important to you and you are trying to make the right decision that will allow you all to have a...

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: Unfortunately with the current economy and available jobs there is not much you could do on your own. Normally the programs offered by the government only assist with down payments. It also sounds like moving on your own could hurt your family by the loss...

Buying or Selling a Home: advice PS, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: Hello again Fars, I would like to add some thoughts to my previous letter. America being what it is right now - a mere shadow of its former glory - here are some thoughts on how to cope. I recommend that whatever job you have, that you do the best you can....

Buying or Selling a Home: advice re. rent to own negotiation, earnest money deposit, comparable prices
earnest money deposit, comparable prices, risk level: Hi Nicole, Sometimes you can purchase a home with no money down especially if you have excellent credit. What you might want to do first is to find out how much the condo s are selling for then see if you can get pre-qualified with a lender for the loan....

Buying or Selling a Home: advice, happy new year, mortgage payments
happy new year, mortgage payments, mother and sister: With your income level you are correct in many ways in stating that you do not think you can afford to live on your own. You should never spend more than 50% of your gross monthly income on the following items: Housing expense + car expense + monthly credit...

Buying or Selling a Home: what can i afford?, private mortgage insurance, alimony child support
private mortgage insurance, alimony child support, jessica bryan: Dear Jay; A good mortgage broker or lender can help clear most of this up for you. However, I can give you the basics. The average mortgage should have a monthly payment (for the principal and interest) that is about 27 or 28 of your gross monthly earnings....

Buying or Selling a Home: Our agency acting as our tenants buyer agency., landlord and tenant, question deals
landlord and tenant, question deals, agency relationship: Hi Debra, There is more than one way to create an agency relationship with a consumer. Even though the Agency was representing you they can also represent the Buyer at the same time. The 2 most common relationships are Buyer and Seller representation. However,...

Buying or Selling a Home: is our agent being honest?, first few days, loan qualification
first few days, loan qualification, comparable properties: Dear Tisha: Congratulations on selling your home, and I hope I can help you by answering some questions and giving you insight. If your house was really very underpriced, quite frankly you probably would have receive a few offers the first few days. Also,...

Buying or Selling a Home: agent issues, research triangle area, scoping out
research triangle area, scoping out, trying to find a home: Hello Teri, thank you for your question. The short answer is that the agent you hire, works for you. During the time you interview with them and before you begin to look at homes, this is the time to establish what role and responsibility each party has....

Buying or Selling a Home: My agent neglecting my property, realitor, motivated seller
realitor, motivated seller, record books: Hi Shea, Open Houses generally do not sell homes. They are more an avenue for Realtors to pick up new prospects. I guess you can tell I am not a big fan of Open Houses. If showings on your home have been few and far between, I don’t think you would...

Buying or Selling a Home: agent responsibilities / listing, marfa texas, agent responsibilities
marfa texas, agent responsibilities, dear scott: Dear Scott: You could call the agent and asked to be released from your contract. If she doesn t want to do that, you will have to honor that agreement. Is it in MLS? If it is then every agent has access to show it. If not, you could take a flyer around town...

Buying or Selling a Home: agent selling, perspective buyer, virtual broker
perspective buyer, virtual broker, knudsen: Yes. If it is your Realtor telling them that than that is a real problem. An agent may tell a Buyer something like that however. This may be going overboard on their part as there is always a way to buy your home and fix the problems. It sounds like...

Buying or Selling a Home: agent, research triangle park, triangle park area
research triangle park, triangle park area, scoping out: Hello Teri, I researched some of the top agents in the area and discovered that they all offer to automatically email new listings as they come on the MLS. So you definately are not receiving the full spectrum of services available to you. Wether you decide...

Buying or Selling a Home: agents' schedules, jessica bryan, referral fee
jessica bryan, referral fee, realty services: Hello Danielle; Agents do what they want to do. There are some larger companies that may require agents to take floor time, but other than that you are on your own. If you take a vacation you arrange for someone to cover for you while you are away. I have...

Buying or Selling a Home: agents, real estate brokers, time constraints
real estate brokers, time constraints, relevant websites: John, The answer to your question is that it depends. How good are you at negotiating? How much time can you devote to the sale of your home? The majority of people that try to sell themselves end up listing with a real estate agent, however, the market...

Buying or Selling a Home: ameriquest mortgage and the right to cancel, quick claim deed, foreclousure
quick claim deed, foreclousure, foreclouser: Are you sure you are understanding it correctly? If they say you have the right to cancel the mortgage, I don t know what you re waiting for. Go ahead and do it. But you should ask somebody at AMC how. If they tell you they can t advise you or are not willing...

Buying or Selling a Home: appraisel, todd thornton, rapid price
todd thornton, rapid price, value of my home: Maurice, The tax assessor values and then taxes your home on their own analysis of what value they place on the home. In most places, the values at the assessors office are not kept up to date with current market conditions so in most situations, the assessed...

Buying or Selling a Home: how to approach landlady about interest in purchasing unit, long term investment, valuable education
long term investment, valuable education, apartment building: Dear Erin: How can you buy what is not for sale? If the unit is still part of an apartment building that has not been turned into a condo, you would have the buy the entire apartment building at this time. It is a long process to turn that into a condo...

Buying or Selling a Home: assumption loan while under realtor contract, jessica bryan, contract question
jessica bryan, contract question, changing hands: Hi Claire; It is okay to rent first and then assume the loan later. As for ethics...well, if it means that you are cutting someone out of a commission it is a matter of conscience. Again, the listing agreement may cover rentals as well since it is basically...

Buying or Selling a Home: auctions, rehab properties, nest egg
rehab properties, nest egg, land contract: Hector, At an auction, the banks will usually bid on a home that is secured by their mortgage. In other words it s extremely hard to find a good deal at an auction. You can buy a home but you will end up paying more for it. 9 out of 10 homes will...

Buying or Selling a Home: auto lien against home, attorneys office, lien holder
attorneys office, lien holder, title company: Barbara, Unless you can work out some type of payment plan with the lien holder to remove the auto lien against your home or either borrow money to pay off the lien, it’s highly unlikely that you will have a closing. This situation is what is referred...

Buying or Selling a Home: average cost, westchester county, new york state
westchester county, new york state: Hi Danielle, Thank you for your question. The average price of a home varies greatly from one part of New York to another and so too does the price of homes in any one county of New York. Where I am in Westchester County, the average price of a home...

Buying or Selling a Home: average price, best choice, new york state
best choice, new york state, realtor: Hi Danielle, Thank you for your question. Prices vary not only from one area of New York to another, but from town to town within counties. Nationwide prices vary extremely from state to state. Your best choice woould be to check out prices on Coldewllbanker.com...

Buying or Selling a Home: avoiding probate, avoiding probate, revocable living trust
avoiding probate, revocable living trust, claim deed: Better yet, you all pitch in and hire a real estate attorney or an estate attorney and do a revocable living trust. That way she remains at trustee and all you sons are substitute trustees. This way upon her demise, you all step in as head trustees and...

Buying or Selling a Home: avoiding tax on gift equity., capital gains tax, proprety
capital gains tax, proprety, avoiding tax: Here s an alternative strategy... 1. Put your mom on Title. 2. Refinance the property under her name. Rate and Term refinance only with no cash-out This way the equity remains in the house and it s not capitalized. (therefore not subject to taxes) ...

Buying or Selling a Home: BAD HIGHLY UNPROFESSIONAL REALTOR.., realtor board, s broker
realtor board, s broker, luck john: Charles: I am not familiar with the Virginia area, however, you should be able to go to the internet and type in Virginia Real Estate Association , and get an address or website. Have you tried talking to the Realtor s Broker. A lot of times problems...

Buying or Selling a Home: Baby Boom Demand For Smaller One Stories Homes, baby boomers, new home builders
baby boomers, new home builders, baby boom: Rod: Your reasoning about one story versus two story is accurate. However, not just baby boomers, but more and more people are looking for single story homes now a days. The problem being most buidlers like to build two story homes because they can get...

Buying or Selling a Home: Backing out of contract based on home inspection, sleeping room, accessible route
sleeping room, accessible route, mls listing: If I were inspecting your house, I would caution my client against using any room that was not connected to the main hallway as a sleeping room. At least one accessible route (usually the main hall / stair) should connect all spaces and elements. In your...

Buying or Selling a Home: Backing Out of New Construction Home, cancellation clause, change of heart
cancellation clause, change of heart, loan approval: Hi Dan, Thanks for the email. It depends! What you need to do at this point is to check your contract to see what it states about you canceling the deal. I would check the areas that states, subjected to...inspection, lender financing, property appraising...

Buying or Selling a Home: Bad Credit home buying, fha loans, downpayment
fha loans, downpayment, credit score: There is a good chance. It all depends on 3 qualifiers. 1.) your credit history even though you have a 546 score, it depends what is on your credit, How many lates you have within the last year, how many collections you have or judgements. 2.) Debt...

Buying or Selling a Home: Bad credit!!!!!, boca raton florida, broker loan
boca raton florida, broker loan, state mortgage: Your realtor is false. These days, your credit score is the determining factor in your mortgage approval eligiblity. It is quite possible that your late payments have not affected your credit score all that much. You need to speak to a mortgage broker...

Buying or Selling a Home: Bad Inspection, stucco wall, desert environments
stucco wall, desert environments, roof leak: Hey, Jennifer. The cost sounds reasonable for a house of about 1,500 square feet, but I ve never seen a stucco repair that I liked. As your contractor said, it will look like a repaired area. And, yes, my concerns, as yours, are that other areas might need...

Buying or Selling a Home: Bad Realtors, homeless man, irresponsibility
homeless man, irresponsibility, homeless people: Hello Danielle and thank you for your question. I am a bit unclear regarding your intitial move in date. At the time you retrieved the keys from the realtors office, was there not someone there who; 1) was aware that the house was not yet ready for occupancy,...

Buying or Selling a Home: Bad realtor affected negotiations-void contract?, negotiation strategy, opening bid
negotiation strategy, opening bid, refrig: Hello Chris, thank you for your question. You know I really hate hearing of agents failing to perform and as much as I also dislike saying so, I get way too many questions like yours. I have to fault the brokers for not properly training those agents who...

Buying or Selling a Home: Bad roof, home insurance company, earthquake area
home insurance company, earthquake area, aluminum wiring: Hi Julia, I m sorry you re having trouble with this. I have a 25 year old wood shingle roof and I am insured through Mercury. Mercury is one of the biggest insurers in California, car and home. As far as the agent and owner knowing about this ahead of time,...

Buying or Selling a Home: Bad Tenant, question pool, luck john
question pool, luck john, association of realtors: Hello, I found your question in the question pool and may be able to help you. I am sorry to hear this. However, PLEASE change that lease. Deposit must cover rent! Ok your rights. And this all depends on where you live. 1- File a law suit. Get...

Buying or Selling a Home: Bank Property, online bidding sites, rehab loans
online bidding sites, rehab loans, foreclosure auction: If your looking on the MLS or real estate broker s web site, the shown price is the list price. Usually the amount that the previous owner owed is only shown in the court records for your county. I ve heard of online bidding sites but for the most part, lender...

Buying or Selling a Home: Basis of sale of condo, tax expert, tax attorney
tax expert, tax attorney, depreciation: It is considered income property and therefore you should have been taking depreciation each year during the time you have owned it. Even if you did not take any depreciation on your income tax, the IRS will impute it in your return. Your basis goes down...

Buying or Selling a Home: BEST LOCATION, vijah singh, population breakdown
vijah singh, population breakdown, dark face: Ken, Ethnic delineation is a BIG NO NO NO !! I live in a very conservative Republican area, where no dark face other than Vijah Singh has ever been seen!! However, this took a lot of research!! I don t remember the name of the site, but if you search best...

Buying or Selling a Home: BeachFront Condos in Dorado Puerto Rci, ocean front property, crisp colors
ocean front property, crisp colors, dorado puerto rico: Send them my comments and then offer to help them by looking at the new photos and giving your opinion. You can also take fliers to real estate offices and post around trying to attract people from your area. If you or any of your friends have businesses...

Buying or Selling a Home: Beachfront Condominiums in Dorado, Puerto Rico, beachfront condominiums, dorado puerto rico
beachfront condominiums, dorado puerto rico, sense of urgency: First of all, Nils, your friends skimped on the website. The first impression is nice, beautiful, but then everthing else goes nowhere. No pictures, no actual floorplans that can be read on the screen, no creative financing ideas, no explaining why buying...

Buying or Selling a Home: Beachfront Condos in Dorado. Puerto Rico, high rise buildings, dorado puerto rico
high rise buildings, dorado puerto rico, beachfront condos: Hi Nils, Beautiful units, and I can only imagine the hard work and funds that went into this venture. My comments below are not intended to be condemning, but rather give constructive criticism that I believe you are asking for. I am not going to sugar...

Buying or Selling a Home: Becoming a real estate agent, initial money, becoming a real estate agent
initial money, becoming a real estate agent, loan offices: Dear Jason: It seems like my long answer got lost. I might not have clicked Send on the last screen page. I will write something else now: 1) With some companies (such as lenders, e.g. banks) you will not need a Real Estate license. You can use their...

Buying or Selling a Home: Becoming a realtor, becoming a realtor, boise idaho
becoming a realtor, boise idaho, real estate license: Dear Greg, It is true that only about 1 in 4 who enter the real estate business are around a year later. I think many people think it is an easy, fun way to make a living and are unprepared for the total commitment it takes including working 7 days a week...

Buying or Selling a Home: Benefits, new apartments, air condtioning
new apartments, air condtioning, kind response: Dear Ankit, Thank you for your question. The benefits of living in the new building as opposed to your bungalow can be many. What is the condition and location of your bungalow? How does it differ from the new apartments being built? Do the new...

Buying or Selling a Home: Best Friend Mortgage, 30 year mortgage, apartment unit
30 year mortgage, apartment unit, typical terms: Thanks for the question. The consumer help website gave you good information. There are several ways to attack the situation that you have. We will leave the rental scenario to the side right now. That would be a separate agreement to the mortgage and...

Buying or Selling a Home: Best flooring choice for re-sell, carpet upstairs, carpet replacement
carpet upstairs, carpet replacement, vinyl flooring: Hi Jennifer, Hardwood flooring is back big time as far as a flooring selection. The newer hardwoods are easy to clean and do not stain as carpet does. If to be most cost effective is your goal, however, definitely replace your existing carpet with carpeting....

Buying or Selling a Home: Best method to obtain a substitute trustee?, probate avoidance, durable power of attorney
probate avoidance, durable power of attorney, mother lives: Maria - This is really a question for the title company, however, I ll tell you how I handled it before. If you want your mother to be the title holder, ask your title company what kind of power of attorney they require for her to sign allowing you to sign...

Buying or Selling a Home: Best method for a substitute trustee?, probate avoidance, real estate lawyer
probate avoidance, real estate lawyer, durable power of attorney: Hello Maria, Thank you for your question. This is a bit beyond the scope of my knowledge and should probably confer with a real estate lawyer. You seem to have researched it thoroughly and have a good handle on it already. In my experience when an...

Buying or Selling a Home: Best way to borrow money to buy mom's home, life estate, darla
life estate, darla, existing home: What you need to do, Darla, is to contact three lenders or banks and choose the one that will give you what you want for the best price . . . just like you stepped into a market or any other store. In talking with the lender, be sure you advise them what you...

Buying or Selling a Home: Best way to buy mom's home, home equity line, inheritance taxes
home equity line, inheritance taxes, current market value: Hi Darla, Do you have any idea of the cost of the addition and the remodel yet? If you buy your mom s home from her at the current market value (which may or may not be higher than the tax value), and qualify for a loan for most of the sales price, you...

Buying or Selling a Home: Best way to buy mom's home, boiler plate, existing mortgage
boiler plate, existing mortgage, mortgage amount: Hi Darla, Thank you for your question. The best way to do this for the purposes you noted in your question is to talk to your local bank (or the bank that you ve been doing business with) or a mortgage broker and tell them about your intent to buy your...

Buying or Selling a Home: Best way to handle substitute trustee?, probate avoidance, competent attorney
probate avoidance, competent attorney, durable power of attorney: My advice would be to speak to a lawyer in the state the home is located. Many states have privacy laws that can help. For example, in Georgia, you can take title to property in a fake name. Now the catch is that most lenders won t lend money to a fake...

Buying or Selling a Home: Binder Deposit, termite inspection, escrow account
termite inspection, escrow account, sitution: Valerie, Sorry for the delayed response. The desposit release process would be based on the state law of Florida. Unfortunately, I don t know Florida law. What I can tell you is that if your offer was based on you getting financing at speciified terms and...

Buying or Selling a Home: Binding Contract, small claims court, board of realtors
small claims court, board of realtors, anwsers: He s bluffing you! You can go to the hardware store and buy two new locks to replace what you have and then he can keep that key for dinner for all you care. By the way, why didn t you tell me you are a licensed California real estate salesman. Because...

Buying or Selling a Home: Binding Home Contract, initial receipt, real estate contracts
initial receipt, real estate contracts, home contract: Dear Nathan: An excellent and important question. Real estate contracts and agreements must be in writing, so your verbal is not binding. However, I would suggest you only make verbal suggestions on what might be acceptable so that you remain professional...

Buying or Selling a Home: Binding Home Contract, home contract, counter offers
home contract, counter offers, buy owner: When there are two offers, Nathan, neither one is valid until the counter offer from the seller or the seller s acceptance is accepted by a buyer. That still does not mean you have a deal if you don t want it. But if you have listed your house with a real...

Buying or Selling a Home: Binding Home Contract, home contract, verbal agreement
home contract, verbal agreement, counteroffers: Nathan, Sorry for the delay in responding. For some reason, I have not been receiving some of my recent emails. All real estate laws are state specific so I d suggest contacting a local attorney. I m not an attorney so the following is not legal advice....

Buying or Selling a Home: BOUGHT HOME, insurance company name, landlord insurance
insurance company name, landlord insurance, realtor fees: not sure what state you are in--but it is not called landlord insurance, just building insurance. do u have ANY insurance company name on the hud 1? hazard insurance? for what hazard? Makes no sense to me either--could be a title company CON. ...

Buying or Selling a Home: BOUGHT HOME, realtor fees, settlement sheet
realtor fees, settlement sheet, hazard insurance: The Insurance should have been on the HUD. If it was not it likely was not paid which happens and you need to pay it or you are not covered. The Title is handled electronically in most cases and your name simply appears on the records. Your title officer...

Buying or Selling a Home: BOUGHT HOME, realtor fees, hazard insurance
realtor fees, hazard insurance, settlement sheet: Dear Al, Your payment of of insurance should be stated with the amount on your closing statement. If you want to confirm that it is a yearly payment check with your insurance agent. Usually, it is your lender who requires the Hazard Insurance. In California...

Buying or Selling a Home: BOUGHT HOME, real estate commissions, realtor fees
real estate commissions, realtor fees, settlement sheet: HI Al, Thank you for your question. The HUD-1 form should have all the closing costs in detail for both you and the seller including real estate commissions and and taxes and prepaid expenses. A copy of it should come to you from your attorney with all...

Buying or Selling a Home: Boarded up homes, todd thornton, local office
todd thornton, local office, tax bills: Dan, It s really hard to answer your question because each case is unique. When you say boarded up I m assuming you mean plywood over the windows, etc. That would tend to imply the windows are missing/broken which would tend to indicate an abandoned structure....

Buying or Selling a Home: Borrowing from a summer home, time mike, credit debt
time mike, credit debt, website www: yes, you can it would be considered a 2nd home, as far as max amount and the terms, it all depends there are 3 qualifiers, credit, debt to income (how much debt you have versus the income you have coming in) and loan to value, the first two will determine...

Buying or Selling a Home: Bought Condo already with covered up leaks, black mold, kitchen cabinets
black mold, kitchen cabinets, breech: Hello Melissa; I am very sorry to read about your problems. Once you close on a house it is very difficult to take any legal action but since you seem to think that the previous owner was well aware of the leaks an problems perhaps you might have a chance...

Buying or Selling a Home: Bought a home "as is", color water, casuality
color water, casuality, bad shape: Sorry to take so long with my answer, but I wanted to make sure I was absolutely correct in what I told you. The answer is an absolute YES. If there has been a purposeful and willfull misrepresentation in the Seller s Disclosure Statement. In other words,...

Buying or Selling a Home: Boundary Dispute of Property For Sale, one peice, electric dog fence
one peice, electric dog fence, seperate pieces: Hello Katherine, thank you for your question. Actually when a property exchanges hands to a new owner, a survey is ordered along with title work by an attorney as part of the purchase agreement. If the surveyor reviews the court house records for a plat...

Buying or Selling a Home: BREAKING A CONTRACT, jessica bryan, extenuating circumstances
jessica bryan, extenuating circumstances, wits end: Dear Leanne; This must be very frustrating for you! Did your Realtor give you any idea as to why there have been no showings? Have other homes been sold within this time period and if so for what price? Your agent should be able to provide you with some...

Buying or Selling a Home: Breaking a Condo Contract, national association of home builders, mannors
national association of home builders, mannors, condo unit: Hello Jamye and thank you for your question. First off you should file a formal, well written, accurate statment of what happened, complaint with the Developer, the National Association of Home Builders in Washington DC as well as the branch in what ever...

Buying or Selling a Home: Breaking a Contract, legal suggestions, pulte homes
legal suggestions, pulte homes, two choices: Dear David: You have a binding contract, and I do not have a copy of it with reference to your contingencies. It may well cost you your deposit, as sellers have the right to have a buyer perform, as you have the right to have the seller perform. Breaching...

Buying or Selling a Home: Breaking a condo contract, negotiation tactics, congradulations
negotiation tactics, congradulations, carlyle: Thanks Lynn and congradulations!! Would you care to share your negotiation tactics with them on how you achieved this victory? Best of luck in your next search and I m sure that you will be more inquisitive with the next sales agent you encounter from...

Buying or Selling a Home: Breaking a condo contract, cost per square foot, breach of contract
cost per square foot, breach of contract, renegotiation: Hello Lynn and thank you for your question. Wow, can I tell you how many buyers have written recently asking how to get out of a Condo sale - way too many... First I must ask, when you signed your purchase agreement, do you still have a copy of the floor...

Buying or Selling a Home: Breaking a contract, old town alexandria, owner realtor
old town alexandria, owner realtor, old town alexandria va: Dear Nicole: Your agent, and the owner/realtor should have made certain that you had a contingency in which to approve or disapprove the title report. If so, use your power of disapproving. If not, call up your agent and ask why you did not receive that...

Buying or Selling a Home: Breaking a contract, worst case scenario, best case scenario
worst case scenario, best case scenario, home mortgage loan: Dear Stacey, I could not answer this question without knowing all the terms of your contract as there are several possibilities. Do you have a real estate agent representing you? If so, the first step would be to get your agent to outline the potential...

Buying or Selling a Home: Breaking a contract, home mortgage loan, mortgage co
home mortgage loan, mortgage co, good luck: Tell someone - the sooner the better. If it is a home you still want, the mortgage co. may have other options than putting as much down as you had originally planned. Or if the seller has already moved out, they may be willing to contribute to your down...

Buying or Selling a Home: Breaking a contract with a builder, appraisal clause, jessica bryan
appraisal clause, jessica bryan, dear mike: Dear Mike; Breaking a contract can be tricky and I think that anyone contemplating it should consult with their attorney first. However, I do think that if you can t get out by other means, (and the lender thing is a little weak) you might get out because...

Buying or Selling a Home: Breaking contract with real estate broker, employee turnover, real estate broker
employee turnover, real estate broker, accurate description: Wow Wendy! Without reading the contracts you signed it is hard to advise you. I would suggest either asking an attorney what to do, or sitting down with the Broker of record for that office and asking for some kind of release. Unfortunalty in our business...

Buying or Selling a Home: Breaking a contract, suitable manner, local real estate
suitable manner, local real estate, poor performance: Dear Christopher: I am sorry you got stuck with an agent who is not performing in a suitable manner. Please write out a detailed list of all of your issues, and call up your agent s office manager, or the owner of the company. Set up an appointment to meet...

Buying or Selling a Home: Breaking a Lease with Option to Purchase, eviction attorney, breaking a lease
eviction attorney, breaking a lease, property tax: Dear Ann, Right now it sounds like your tenants are in default on their rent. Check your state s laws but you should be able give them notice to move but you have to follow the steps required by your state. You also didn t state whether your tenants are...

Buying or Selling a Home: Breaking A Listing Agreement, realtor association, licensing board
realtor association, licensing board, arbiter: Dear Dianne- What a mess! I tell my clients when they list with me that they can cancel if they are unhappy with me as I certainly would not want to be in a relationship with someone who did not want to be in one with me- how uncomfortable! However, that...

Buying or Selling a Home: Breaking A Listing Contract, second chance, good luck
second chance, good luck: Hi Patti, Thnak you for your question. The listing agreement can be terminated, but you may be liable for costs incurred by the broker during the time you were listed. Most of the time the broker will not ask to be reimbursed. Just call the primary...

Buying or Selling a Home: Breaking a listing contract with a contingency, real estate commission, legitimate claim
real estate commission, legitimate claim, contingency: Hi Amy, If you have an executed contingency CONTRACT (as opposed to an offer in progress) on another house through the same agent, nothing should happen to a CONTRACT already ratified/totally executed by all parties. If you have an offer in progress,...

Buying or Selling a Home: Breaking purchase agreement, time sellers, dear james
time sellers, dear james, correct direction: Dear James: I am sorry you have this problem, and hope I can be of some help. With reference to your agreement, I am not aware that initialing is ok for you to do with your entire contract; initials are usually for a small, more minor change or paragraph....

Buying or Selling a Home: Breaking a Sellers agreement, faith deposit, legal matter
faith deposit, legal matter, contract agreement: Dear Mr. Chen: I do not understand about the deposit. Is this not the deposit the buyer paid into a neutral account as a good faith deposit? If so, then yes, it is considered the seller s, however, it is held until the close of the transaction when it is...

Buying or Selling a Home: Breech of contract, breech of contract, jessica bryan
breech of contract, jessica bryan, dear lou: Dear Lou Ann; Since you are past contract deadline you can have your agent send out a notice of this fact with a time is of the essence clause giving a drop dead date. Once this date is reached they will have to release you from contract if they have...

Buying or Selling a Home: Bringing Homes Up to Code, real estate license, retrofitting
real estate license, retrofitting, prospective buyers: Hi Deanna, Your mother does not have to bring her house up to code to sell. I would suggest you have a good local agent evaluate the house for market and determine how to best market the house in its present condition. That agent might also have suggestions...

Buying or Selling a Home: Bringing Homes Up to Code, hot water heater, disclosure documents
hot water heater, disclosure documents, board of realtors: Dear Deanna: Who told your Mother that she is responsible for bringing her house up to code? Find out, and ask that person what they meant. There are disclosure documents that your real estate agent can help you and your Mother fill out, and your...

Buying or Selling a Home: Broker's Compensation, national association of realtors, association of realtors
national association of realtors, association of realtors, estate licensees: Joe, Without giving legal advice because I do not know where you live, I can explain MLS and the National Association of Realtors contract to you. You most likely signed an employment contract which guarantees your broker/agent will get paid. If this...

Buying or Selling a Home: Broker as Principal, real estate broker, s broker
real estate broker, s broker, broker agent: Hi David, Thank you for your question. A licensed broker/agent may represent themselves in the sale of real estate, but in doing so they must reveal they have an interest in the property and identify themselves as a real estate agent/broker in advertising...

Buying or Selling a Home: Broker still showin house after expiration of contract, jessica bryan, compensation agreement
jessica bryan, compensation agreement, verbage: Dear Dan; Did the Buyers see the house while the listing agreement was still in effect? If so then there was probably some verbage in the contract about having an extended period of time after expiration of the contract for compensation on any buyers who...

Buying or Selling a Home: Brokerage Law /Commercial Deal, department of professional regulation, brokerage commission
department of professional regulation, brokerage commission, desirable location: Jon, Thanks for the question. Happy New Year. This is new ground for me as in Virginia and DC where I am licensed, only a broker can be paid and the broker then pays the agent. Here is what I would do. 1) Call the Department of Professional Regulation...

Buying or Selling a Home: Brother-In-Law's Woes, intents and purposes, california broker
intents and purposes, california broker, personal reasons: Your brother-in-law looks like he has no choice: While no one can force either he or she to sell, you can hire an attorney to force a sale with a court partition petition. Or she can do that. The judge instructs the parties to sell the property and then the...

Buying or Selling a Home: BUYING BANK OWNED PROPERTY, bank owned property, buying bank owned property
bank owned property, buying bank owned property, pre approval: You can use any lender you like to close the deal but they want you to get pre-approved with their lender who they trust. There is no harm in talking to that lender. Who knows, they may offer you a better deal. Show their approved lender your pre-approval...

Buying or Selling a Home: BUYING A HOME - WAIVING CONDITION OF SALE OF CURRENT HOME, wise move, trying to find a way
wise move, trying to find a way, beautiful home: Hi Michele, Thanks for your question. I know that it feels that his agent is the bad guy, but this almost always is not the case. The market has really changed lately and it is very hard to get a home sold. I m sure this caught his agent off guard and he...

Buying or Selling a Home: BUYING INCOME PROPERTY, fornos, bank statements
fornos, bank statements, incomes: Hi Stacey thank you for your question, if I understand your question, you want to know the net income of the property, remember all owners are not created equal and neither is their reporting to IRS. Find out the income and make sure is sign by all the tenants...

Buying or Selling a Home: BUYING A OWNER FINANCE HOME, advanage, owner finance
advanage, owner finance, owner financing: Doesn t make sense, Erricka. If you re buying an owner financed home, why is there a lease in the picture? If you are on a lease, then why are you concerned about the owner financing? Are you buying on a lease/option? In what state are you located? I wish...

Buying or Selling a Home: Build to suit, vacant lot, lenders
vacant lot, lenders: I take it, this is a commercial piece? And that you do not wish to sell it? I would need to know those two things first. If it is a commercial piece and you just want to build to suit. Then you need a broker to list it as such. You need to have your building...

Buying or Selling a Home: Builder Missing Contract Closing Date, sorry john, legal background
sorry john, legal background, legal expert: Pete: You need the expertise of someone with a legal background and knowledge of contracts in your state. I am not an attorney and cannot help you. A legal expert should be able to answer your questions and let you know what your options are. Sorry,...

Buying or Selling a Home: Building Code, cute flowers, code question
cute flowers, code question, getting a mortgage: Hi Lou, Thanks for the follow up. If they are made of wood and need to be replace and/or repaired any buyer will want that done or will take it off the price. Since it sounds like you are going to do something to the steps anyway, what is the difference...

Buying or Selling a Home: Building a new house, being your own general contractor, architect builder
being your own general contractor, architect builder, quastion: Hey Jim.... Building costs seem to me to be the same almost anywhere you go in this Country. With the Home Depot and Lowes out there contractors and consumers alike are getting about equal pricing on goods and services and prices are very fair. Building...

Buying or Selling a Home: Building Tenancy / Potential Exchange, mike schneider, creative possibilities
mike schneider, creative possibilities, feather in your cap: Hello Mike and thank you for yor question. In truth I may be over my head on this one and feel you may present this to one of the tax experts on our site. With regard to the 1031 exchange, I m not entirely certain this would qualify. The part of it you...

Buying or Selling a Home: Building on vacant land, mark ups, interview agents
mark ups, interview agents, reputable builder: Hello Miguel, thank you for your question. If I were shopping for a great agent, I would start by asking my friends, neighbors and co-workers who they have had a good experience with. After that I would search www.CRS.com which is a site devoted to those...

Buying or Selling a Home: Builing Credit with home owning, todd thornton, credit education
todd thornton, credit education, owning a home: Elizebeth, It s hard to say since credit scores depend on various factors. I m a little unclear as to how he acquired a home with tenants. What do you mean by acquire? If the deed to the home is in his name and his name is on the loan, and he makes regular...

Buying or Selling a Home: Buy a 3/4 Plex and Renting Section 8, welcome section, hi chris
welcome section, hi chris, columbia sc: Hi Chris, Thanks for your question. Investing in multifamily homes can be rewarding. Usually rents will increase and you mortgage will remain stable so over time your cash flow will increase. I do not personally work in your area, but could recommend...

Buying or Selling a Home: Buy a 3/4 Plex and Renting Section 8, database section, columbia sc
database section, columbia sc, triplex: Hi Chris, Thanks for writing All Experts. Sorry, but I don t know of any web sites specifically targeting a triplex or quadraplex. I do, however, live in your home town. If you will email me at liznarr@sc.rr.com I will be glad to send you a list of...

Buying or Selling a Home: Buy a 3/4 Plex and Renting Section 8, real estate search, columbia sc
real estate search, columbia sc, section 8: Section 8 is a great way to gain guaranteed rent. typically, the gov t contract is one year. in your case 3 or 4 rents would greatly add to your income. i am currently working out of louisiana .logging on to your large companies such as remax.com,century21.com...

Buying or Selling a Home: Buy without Agent, zillow, first time buyer
zillow, first time buyer, relative value: Hi Greg- I don t have a lot of time to research price inequalities of FSBO s, so I haven t been to many sites, but I figured I d check a couple that were in my area on this site. So here are the first two I looked at. 1) There s only six residential listings...

Buying or Selling a Home: Buy home now or later, time home buyer, first time home buyer
time home buyer, first time home buyer, investment choice: Cynthia, First of all I hope matters work out between your boyfriend. The idea of buying a fixer upper home is an excellent one & profitable one also. If you do enough search, you may be able to find one in NJ. I was there just last month in Ft. Lee...

Buying or Selling a Home: Buy a house with tennants, initial negotiations, making an offer on a home
initial negotiations, making an offer on a home, making an offer on a house: Dear Matt; Thank you for your question… If I understand you correctly, you mentioned in your note that you are making an offer on a home and have not yet entered into a contract as of the moment. If this is correct, I would recommend you deal with this...

Buying or Selling a Home: Buy new or old, best bet, rent control
best bet, rent control, empty space: Hi Deb....wrote back to you on monday, but I guess the system didn t send it. Basically what I said was, try to buy a newer home (2003) or newer. Building codes changed that year to the same as a site-built home. The secret will be to try to find the least...

Buying or Selling a Home: Buy out of partner, garage roof, laywer
garage roof, laywer, rainy season: Dear Robert: As agents, we are not allowed to practice law without a license so I will avoid making a judgment on if you have or have not a case. I will say, however, that you have learned a valuable lesson in that anytime you have a partnership with real...

Buying or Selling a Home: Buy or rent ?, government assistance programs, real estate boom
government assistance programs, real estate boom, first time buyer: Dear Cynthia; You have quite a bit of credit card debt that should be paid off before making a house purchase for your own peace of mind. However, if you feel comfortable in making the monthly payment and if you have some back-up savings that will hold you...

Buying or Selling a Home: Buy or transfer, tax ramifications, parents sign
tax ramifications, parents sign, state of rhode island: Dear Kevin; Every state has its own fees and laws with regard to the transfer of real property. There will certainly be tax ramifications if your parents sign over the house which will then be considered a gift. It will depend on the value of the home as...

Buying or Selling a Home: When to Buy, feeding frenzy, question history
feeding frenzy, question history, bidding wars: Hello David, thank you for your question. History of our area buying habits have been somewhat out of sync the past few years with all the feeding frenzy we have experienced, however, As a rule, the period during the summer vacation and between Thanksgiving...

Buying or Selling a Home: Buyer's Agent, real estate broker, due diligence
real estate broker, due diligence, retainer: Dear Steven, In order for a contract to be binding there has to be agreement and an exchange of services. In other words, if the agent does his due diligence and finds you a property you will pay him. If he no longer wants to work with you he needs to...

Buying or Selling a Home: Buyer's Agent Agreement, jessica bryan, real estate broker
jessica bryan, real estate broker, independent broker: Put everything in writing and keep a record of what was said and when. Send a registered letter to the agent reflecting the dissolution of the agreement and agency stating your reasons and previous conversations. Make sure that you state (again) that you are...

Buying or Selling a Home: Buyer's Agent Broke Agreement, rare instances, real estate broker
rare instances, real estate broker, agent contract: Hmmmmm,send a self serving letter explaining all that I wrote to you before, and giving him 3 busn days to respond or that you will consider the contract null and void because he initiated the cancelation of your working together. Send the letter by regular...

Buying or Selling a Home: Buyer's Agent Broke Agreement, certified mail, real estate broker
certified mail, real estate broker, estate commissioner: Steven, If your broker is in business for himself, “he” is the BIC. The way to protect yourself is to send him a Certified letter, stating that he breached your Agency Agreement by his actions (and list them). I would add language that since he will...

Buying or Selling a Home: Buyer's Agent, mail return receipt, certified mail
mail return receipt, certified mail, real estate broker: Simply get him to give you a WRITTEN release from that buyer s agency agreement. If he/she refuses to do that, then YOU write a release saying what he said and send it to him via certified mail, return receipt requested. By him or her not responding within...

Buying or Selling a Home: Getting Buyer to Agree to EMA in PN, earnest money agreement, negotiation stage
earnest money agreement, negotiation stage, prime piece: Hello Judy, If I were you, I would instruct your mother tell this perspective buyer that due to the fact she has already lowered the asking price and included additional acerage to sweeten the deal, if he is unwilling to sign this promissary note to the...

Buying or Selling a Home: Buyer-Broker agreement, broker agreement, buyer broker
broker agreement, buyer broker, local real estate: The standard commission is 3% to represent the buyer and 3% to represent the seller. I would check to make sure that there isn t some type of misunderstanding and you will pay 3% and the FSBO will pay 3%. It is common for the agent to ask the buyer to pay...

Buying or Selling a Home: Buyer Contract Re-Negotiation, tonzi, nassau county
tonzi, nassau county, rising interest rates: Hi Michelle, Thank you for your question. Once you are 30 days beyond the closing date I believe your lawyer can request your escrow deposit back and cancel the contracts for failure to perform. At that point the seller may ask you to stay in contract...

Buying or Selling a Home: Buyer fails to obtain financing, lending institutions, mortgage commitment
lending institutions, mortgage commitment, faith effort: Dear Anthony, Your question has many facets and therefore many answers. Usually a contract of sale for real estate would include a mortgage contingency with an amount at the prevailing rate and a time frame to get the mortgage commitment. Including...

Buying or Selling a Home: Buyer firing agent, independant broker, jessica bryan
independant broker, jessica bryan, candid conversation: Dear Tony; Most contracts are not absolute. There is usually a way out. If the agent isn t working well with you then you can probably call his Broker in Charge at the office and discuss finding a different agent. If you read the contract it probably...

Buying or Selling a Home: Buyer - Owner Finance, owner finance, time home buyer
owner finance, time home buyer, first time home buyer: Hi B. Joy: You don t need representation, but you should have a real estate attorney help you with any owner financed purchase agreement (i.e., land contract or contract for deed). This won t be part of your credit report, but it will permit you to re-finance...

Buying or Selling a Home: Buyer is Realtor, redondo beach ca, dre ca gov
redondo beach ca, dre ca gov, successor trustee: I m not an attorney so I can t give you legal advise. Before you do anything, please consult your attorney. It sounds like you d probably win in court because the original time frames were not adhered to by the buyer, but you just never know. You also...

Buying or Selling a Home: Buyer's rights?, rust hole, furnace company
rust hole, furnace company, power vent: Dear Trish, Thank you for your question. Since you have already closed on the purchase of the property the seller is probably free and clear, especially since you had a home inspection with a licensed home inspector. Not all homeowners maintain their...

Buying or Selling a Home: Buyer Squatter???, eviction process, don hi
eviction process, don hi, personal visit: Hi Don....depends on where you are, what your contract says, and what clauses you had included in the agreement. All legal stuff that is beyond my expertise....today is the 17th, so she s a couple of weeks late. Maybe a personal visit to start the deal off...

Buying or Selling a Home: Buyer taking to long, slippery slope, earnest money
slippery slope, earnest money, building a house: Hi Andrea, It sounds like you agreed to extend the inspection deadline, so the buyer could have another inspector come take a look. Is that correct? In Colorado we have a date (as part of the contract) that the inspection must be complete and the seller...

Buying or Selling a Home: Buyers Agent Contract, furniture placement, time home buyers
furniture placement, time home buyers, first time home buyers: Alexis, This is a difficult question to answer. A lot depends on how may times and for what reason you want to see the home again. Your realtor is correct on the norm being only seeing the house once more from contract date to closing date. But some times...

Buying or Selling a Home: Buyers lender went bankrupt 5 hours before closing, state mortgage, president state
state mortgage, president state, rotenberg: The buyers lender went out of business. This happens. No one can predict when it will happen but it did. Does the seller have the ability to tell the buyer that their deposit is forfeited for failure to perform under the contract, YES. The seller will...

Buying or Selling a Home: Buyers stringing us along..., contingency clause, broker owner
contingency clause, broker owner, closing time: Hi Mel, If there was a contingency clause within the agreement of sale stating that the sale is based on getting their orders there is not much you can do. If you can t get in touch with their Agent have your Agent contact the Broker/Owner of the office....

Buying or Selling a Home: Buyin a home from a realitive, grant deed, mark thanks
grant deed, mark thanks, rental houses: Hi Mark, Thanks for the question. You can be put on the title and then get a loan in your name only and then take your uncles name off the house with a grant deed. Here are the 2 problems you may run into: 1) Most lenders require you to be on a deed...

Buying or Selling a Home: Buying, todd thornton, fha loan
todd thornton, fha loan, best guess: Chad, It depends on if you are buying the house together and if the bank will be using both of your incomes to qualify for the loan. Typically, if both incomes are used both credit scores are used, with the emphasis on the lowest of the two scores. Based...

Buying or Selling a Home: Buying, full time job, free appointment
full time job, free appointment, class areas: Jamie, Oh how well I know your area and the craziness that has happened in real estate there the last couple of years!! I would first go to a lender, probably your own bank would be the first place to go, and ask them for preapproval. It is such a seller...

Buying or Selling a Home: Buying a 2nd home, private money loans, ducks in a row
private money loans, ducks in a row, mortgage problems: Hey, Marie. With the current mortgage problems resulting from subprime loans during the past few years, getting another mortgage will probably be more difficult than it has been recently. Traditionally, it has been difficult to prove an ability to pay...

Buying or Selling a Home: Buying a 3 bed room house in a 4 bedroom dominating community, census websites, malibu california
census websites, malibu california, jessica bryan: Hello; I agree that there should be a cause for concern when buying in a community of larger homes. The problem you run into is that most of the homes are probably appealing to families and if this is the case they will overlook your home. You won t have...

Buying or Selling a Home: Buying our Apartment from our Landlady, county planning department, land lady
county planning department, land lady, landlady: You apparently live in a duplex or a double, Nick. I doubt very much that you can buy your half of it. If you want ot find out if you can before you ask your landlady, go to the county planning department and ask them if it is possible to split the ownership...

Buying or Selling a Home: Buying Condo with a Pending Litigation, first time buyer, momey
first time buyer, momey, condo association: Lisa, I would investigate this very carefully. Your Realtor should be able to guide you. It depends what the law suit entails. Does it have something to do with the seller, the Condo Association, the seller s unpaid fees? All these questions would have to...

Buying or Selling a Home: Buying a condo in MA, s broker, buying a condo
s broker, buying a condo, licensed real estate: As you no doubt know, Hank, if you are not a licensed real estate agent, you may not legally collect a fee for the sale or purchase of any real estate. However, there is nothing stopping you from making any kind of offer you choose to make. Three percent...

Buying or Selling a Home: Buying condo from relative, jessica bryan, deed transfer
jessica bryan, deed transfer, buying a condo: Hello Howard; First of all, I would like to apologize for not getting back to you sooner. I never received the question. To answer your question: yes, go to the attorney s office, have a purchase agreement drawn up and then secure your loan from your...

Buying or Selling a Home: Buying condo w/ no money down, david garcia, money down
david garcia, money down, condos: Robert, If you have bad credit, you might look at owner financed condos. Look up the local classifieds & call up the sellers & tell them that you re looking for a condo to buy for full price if they are flexible in terms. David Garcia www.ezreinvesting.co...

Buying or Selling a Home: Buying a double wide mobile home, mobile home park, double wide mobile home
mobile home park, double wide mobile home, judie: Susan, Other than the benefit of the tax write off, not much!! If you live in FL or any other area that is hurricane prone, you know what risk you are taking. I would try to buy a condominium or a small house instead. You can usually never get your money...

Buying or Selling a Home: Buying First Home, option arm loans, newborn baby girl
option arm loans, newborn baby girl, mortgage calculators: Hi Dan, Sorry for the delay. Congratulations on your move to purchase a home for your family. Blending families are great when both of you can start a life together in a home that belongs to the both of you. To answer your question, usually lenders like...

Buying or Selling a Home: Buying Foreclosure home in Tampa, property contracts, property inspector
property contracts, property inspector, tall grass: One of the main reasons why foreclosures are sold for a reduced price is because there is no guarantee to the condition of the property by the bank. Its up to the buyer to look into all of the problems. In some cases, there is little or nothing wrong with...

Buying or Selling a Home: Buying a Foreclosure., bank owned property, december 6th
bank owned property, december 6th, purchase agreement: Chances are, John, that you will come out of this WITHOUT a house from THAT bank. If you have read the purchase agreement, chances are you bought that property as-is, where-is. That means they do no fixing and will not pay you back for any services you paid...

Buying or Selling a Home: Buying FSBO when you have been working with an agent, worth the trouble, obligation
worth the trouble, obligation, dick: Not necessarily, Dan. You did not indicate that you could facilitate the purchase on your own. Do you also know about all the documents that should be executed in your state? Do you know how to protect yourself as the buyer? What happens if you discover something...

Buying or Selling a Home: Buying two-family and converting condos, real estate lawyer, master deed
real estate lawyer, master deed, modern kitchen: Hi Elaine, If the duplex or two-family home is on one deed, it will be very difficult to separate it. They may be able to go to the city after the close of escrow and request the split but there s no guarantee. This will be very complicated to split a...

Buying or Selling a Home: Buying your first home!, 1st time home buyers, time home buyers
1st time home buyers, time home buyers, home buying process: Dear Marisa; Thank you for giving me an opportunity to help in answering your question. First, congratulations on making the decision to start the process of buying your first home. I have worked with many 1st time home buyers, so the suggestions I will...

Buying or Selling a Home: Buying our first home, rotenberg, purchase loan
rotenberg, purchase loan, best of luck: My suggestion is that if you are so intent on purchasing a home right now instead of renting that you buy a home you can afford on your 32K income. Because you are credit challenged it may pose a problem for you with required down payment monies (I don t...

Buying or Selling a Home: Buying my first house in CT, fairfield county, tidal creek
fairfield county, tidal creek, degree water: Ok Liz.... It sounds like your caught up in a hot market and maybe you pushed yourself a little bit but that is not all bad. You have a nice tax shelter and a waterfront investment in a great area! Take some time here... think through what you really...

Buying or Selling a Home: Buying first Investment Property, new investor, good shape
new investor, good shape, property business: There s a difference in real estate agents, Jodie. Many of them out there don t know very much more than you. After all, they just recently got their licenses. Who you want is someone who has been in the investment property business for a minimum of 10 years....

Buying or Selling a Home: Buying forclosed homes, buying forclosed homes, true market value
buying forclosed homes, true market value, foreclosure listings: Micheal, Sorry for the delay in my response. Foreclosure listings can be decently priced but most require additional work and the majority are in a not so great neighborhoods. You ll probably need several thousand dollars to fix the home up even after you...

Buying or Selling a Home: Buying forclosure in Midwest, foreclosure market, buying foreclosed property
foreclosure market, buying foreclosed property, fannie mae: Because I would want a 10% cap rate on this property, I would therefore offer no more than $31,500. It is difficult for a smaller property to be under the same cap rate as larger properties. In fact, smaller properties often use a higher cap rate. But in this...

Buying or Selling a Home: Buying foreclosure property, foreclosure property, supply answers
foreclosure property, supply answers, pointed questions: Tara, If the second lot was not included in the original foreclosure, you should ask some pointed questions of the lender as to the status of the second lot. Could it be that there is a separate mortgage on the second lot that is “not” in default,...

Buying or Selling a Home: Buying foreclosure, pima county recorders office, pima county recorders
pima county recorders office, pima county recorders, county recorders office: Ryan, Most likely the bank buy-back extinguished the inferior liens, however, tax liens are always superior and the foreclosure most likely did not alter the responsibility of paying those back. It just depends on the circumstances and I would suggest...

Buying or Selling a Home: Buying foreclosures, doing internet research, bank foreclosures
doing internet research, bank foreclosures, mls listings: Jason: I doubt you re actually on the MLS...perhaps REALTOR.COM, as only agents can actually be on the MLS, or perhaps you re on a big broker s web site who claims to have all the MLS listings--right, not if another broker stops that from happening they...

Buying or Selling a Home: Buying Home without buyers agent.., holdback, buyers agent
holdback, buyers agent, percentage point: Dear Dave; It is illegal for an agent to pay a commission to a non-licensed person. So, you will not be getting any money returned to you from the Seller s agent. However, when negotiating the offer to purchase, you might want to make your offer at 1 - 2...

Buying or Selling a Home: Buying a Home in CA from Father, santa cruz county, tax questions
santa cruz county, tax questions, real estate agent: I cannot answer any tax questions as I am not an accountant so I would recommend you submit those questions to an accountant or tax attorney on this site. If you are not going to have a real estate agent represent you (and that should be the person helping...

Buying or Selling a Home: Buying Home From Grandmother, first position, trust deeds
first position, trust deeds, grandmother: I like the idea of buying the home but not the way your grandmother suggests. Why? IF it is sold below its appraised value, it will take a while to return to that value. so, give her a contract for the full purchase price. Get mortgages for all you...

Buying or Selling a Home: Buying Home From Grandmother, capital gains tax, purchase mortgage
capital gains tax, purchase mortgage, loan costs: Apparently, Kristen, the refinance lender is using the value of the property as their protection and that is why they are willing to lend $365,000 on it. But I am sure they will require your grandmother to be on the loan (and title)as well. Otherwise, you...

Buying or Selling a Home: Buying Home From Grandmother, loan paperwork, bank fraud
loan paperwork, bank fraud, legal aspect: Kristen, I m afraid I m a little unclear as to what you re asking. If you can answer the following questions I ll be happy to respond with additional advice. Can you not incorporate your other debts into the home loan? What price does your grandmother...

Buying or Selling a Home: Buying a Home Without A Realtor, seller disclosure statement, real estate contract
seller disclosure statement, real estate contract, hoa dues: Dear Kelly; Buying and selling real estate is different and with slightly different procedures, paperwork and requirements in every state. The only way you can be certain that you have the up-to-the-minute information is to consult an atorney or a local...

Buying or Selling a Home: Buying Home from relocation Company, real estate contract, relocation company
real estate contract, relocation company, sorry anne: Sorry, Anne, I have no way of knowing what you are talking about. What terms? What risks? What are they asking for? What are you asking for?, etc. Of course, nothing stops you from making your offer on a standard real estate contract, especially if you...

Buying or Selling a Home: Buying House of Deceased Owner, lien holder, mother lives
lien holder, mother lives, running start: What seems to be the problem? Clearing title usually takes no longer than a week or two at most, unless there is a lien and the lien holder cannot be found. You might ask the seller of the house if she would allow you to rent until closing, so that you...

Buying or Selling a Home: Buying a House in Trust, getting a mortgage, executor of the estate
getting a mortgage, executor of the estate, legal obligation: First of all, Phillip, the listing that was signed with the Realtor who has that listing emphatically says that should anyone sell the house, the Realtor is entitled to his/her commission. The mere fact of change of title decides whether the property has been...

Buying or Selling a Home: Buying a home..., central maryland area, principle concerns
central maryland area, principle concerns, decent salary: Huh?! Ground rent, is the amount of money paid to the landlord for the use of a piece of property. What this refers to is leasing property, termed a Leasehold Estate whereby the owner of a property - lessor, conveys a possessory interest in the real...

Buying or Selling a Home: Buying home, oil tank, buyer broker
oil tank, buyer broker, comparable sales: Hi Jon, Thanks for your question. The seller probably doesn t want an agent involved because he thinks that will cost him some money either in a broker s fee or a lower price. Anyway, if you want to have your broker/agent represent you that is certainly...

Buying or Selling a Home: Buying a home, jumbo loan rates, entertainment profession
jumbo loan rates, entertainment profession, jessica bryan: Dear Henry; I am not an expert on career choices and salaries. Perhaps a career counselor can advise you better than I. However, I do have to say that there are many careers that pay huge sums of money: the entertainment profession, sports, media, CEO s,...

Buying or Selling a Home: Buying a home, traverse city michigan, michigan realtor
traverse city michigan, michigan realtor, propertyupnorth: Hi Henry, Instead of approaching this as you have, I would recommend that you speak with a loan officer to learn what your income, savings and debt will qualify you for with regard to a home. If money is no object, consider the capital gains cap limits...

Buying or Selling a Home: Buying out of a home, time owners, happy things
time owners, happy things, fiancee: Dear Erica, Unfortunately you cannot get out of the contract on this home if your name is on the mortgage. (If you are not on the mortgage even if you are on the title, that is another issue entirely.) Your options are to sell the house or have your...

Buying or Selling a Home: Buying home, minimal expenses, debt ratio
minimal expenses, debt ratio, home thanks: Henry, That depends on a number of factors. The first is your expenses. The second is your debt ratio. Third is the percentage rate. Fourth is the equity in the home or value of the home and amount of down payment. Generally, lenders feel comfortable...

Buying or Selling a Home: Buying a home, time home buyer, first time home buyer
time home buyer, first time home buyer, finding a job: As far as I know, there aren t any restrictions on buying property out of state. However, I think that the lender may not allow you to call it your primary residence becasue of the distance which will result in a higher interest rate. I think your best...