About Experts Sitemap - Group 8 - Page 12 2015-03-24

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...

Buying or Selling a Home: Buying another home, short term loan, bridge loan
short term loan, bridge loan, favorable terms: What you can try is contact the lender that holds the paper on the house in forclosure you want to buy and apply for a loan with them for that house. While I understand your not wanting to have a mortgage, unless you have the cash to buy the house outright,...

Buying or Selling a Home: Buying a home, special warranty deed, trust name
special warranty deed, trust name, family trust: Hi Nathan, I m not sure if I quite understand. A new build should be in the name of the builder. When you buy it, they deed ownership over to you. They probably have a take out loan, where they can take out one property at a time as they sell and give you...

Buying or Selling a Home: Buying a home, todd thornton, short money
todd thornton, short money, wells fargo: Alyssa, 1) Maybe nothing. If you buy a home that s already listed with another agent, the selling agent/broker typically gets paid by the seller so the buyer would not have to pay anything for the agents services. In some cases, agents require you to sign...

Buying or Selling a Home: Buying a home, credit bureua, tradelines
credit bureua, tradelines, guestion: Actually a loan officer would send the landlord a form to fill out that would detail your payment, move in date, any lates, etc. That is called an alternate tradeline and those can be added to your credit report by the loan officer for the loan application....

Buying or Selling a Home: Buying a home., time buyer programs, first time buyer programs
time buyer programs, first time buyer programs, jessica bryan: Dear Guy; The first rule in real estate is: QUALIFY YOUR BUYER! This means that the Buyer (in this case--you) should go to a lender to discuss financial status and credit. If the Buyer can get a loan pre-qualification letter then they can proceed to look...

Buying or Selling a Home: Buying a home, paycheck to paycheck, boca raton fl
paycheck to paycheck, boca raton fl, state mortgage: There are soooo many 100% mortgage programs available out there. It is very easy to purchase a house, even for $1 million with 100% financing. However, for someone with little to no money I do not suggest going and buying a home. Buying is way more expensive...

Buying or Selling a Home: Buying a home, home equity loan, baby boomers
home equity loan, baby boomers, retirement age: Ronn: With the Baby Boomers starting to hit retirement age, more people are trying to sell their homes and downsize to smaller homes with less upkeep and maintenance. Depending on what the home prices are in your area, you may have enough from your present...

Buying or Selling a Home: Buying a home, money questions, seamless transaction
money questions, seamless transaction, phoenix area: Dear Hari; Each state in the US has different laws governing the sale of real property. As a real estate agent in North Carolina (and before that in Los Angeles, California) I am required to take an update course every year along with additional classes...

Buying or Selling a Home: Buying a home with a bank loan, godbless, getting a loan
godbless, getting a loan, bank loan: Dear Reuben, There are loans being offered by the banks that will finance the entire purchase. You need to contact a lender and get pre-approved. That person will tell you if you can qualify and, if not, what you need to do. Hope this helps, Sue...

Buying or Selling a Home: Buying a home after bankruptcy, buying a home after bankruptcy, mortgage officer
buying a home after bankruptcy, mortgage officer, mortgage lending: I would contact a reputable mortgage company and disclose all of this. Ask them to qualify you and tell you what price house you can buy, before you go out and look. Where do you live? I may be able to help you find a mortgage officer. Tell them you don t...

Buying or Selling a Home: Buying a home for below value...., local realtor, real estate broker
local realtor, real estate broker, fortmyers: Hi John, First and foremost I am not an attorney and cannot give you legal advice, but as a Real Estate Broker I can tell you that there s nothing illegal about a seller giving you back money for repairs. Now on the other hand the lender might have issues...

Buying or Selling a Home: Buying a home with boyfriend, mortgage approval, business is business
mortgage approval, business is business, credit score: First thing you should do, Cindy, is to go with your boyfriend to a REAL ESTATE attorney to put together an agreement as to who is responsible for what and what happens if you should break up, etc. I am telling you this because if you buy a house without...

Buying or Selling a Home: Buying a home from builder, deposit monies, earnest money
deposit monies, earnest money, mortgage broker: Hi Marie, If you give the mortgage broker and application fee including a charge for a credit report they are usually not refunded. If the $500.00 goes to the builder just to hold the lot you should be given something in writing stating that it is a lot deposit...

Buying or Selling a Home: Buying a home with a contingency, contingent contract, straight answer
contingent contract, straight answer, earnest money: Hi Ken, This is where you need a straight answer from your agent as to the practice in your particular state of leaving a home in active status when actually it is contingent. In many states this is not permissable at all under any circumstances. In others,...

Buying or Selling a Home: Buying a home with current tennants, real estate contracts, tennants
real estate contracts, tennants, inexperience: Dear Jennifer: You have excellent and important questions! Please check your contract, as many real estate contracts have a clause that states how far in advance of the closing dates tenants have to vacate. If not, make certain that one is introduced...

Buying or Selling a Home: Buying a home etc., raleigh area, bonus room
raleigh area, bonus room, raleigh north carolina: Hi there! If you can afford rent, you can afford to buy a house. Your first house might not be the one of your dreams, but owning real estate is a smart move. The first thing I would have you do is get in touch with a mortgage consultant. He/she would be able...

Buying or Selling a Home: Buying home with Fiance I have bad credit,hers is excellent., federal tax lien, northwest ar
federal tax lien, northwest ar, first time buyer: There are lots of options 1.) if she can obtain the loan by herself going full income that would be your best deal , your interest rate should be conforming rates which are low bank rates 2.) if her debt is too much to qualify on her own, with her score...

Buying or Selling a Home: Buying home in fl without realtor, appraisal clause, transaction agent
appraisal clause, transaction agent, pensacola fl: Hi Beverly, Some of the basics you need to make sure are definitely included in your Contract for the purchase of your neighbor’s home are listed below. The Contract should be contingent on all the following: 1. Financing. If your loan does not go...

Buying or Selling a Home: Buying a home from a friend, examples of contracts, loan situation
examples of contracts, loan situation, virginia area: It depends on the state, but in most places a mobile home is treated in the same category as a motor vehicle. So, I am sure you will be required to have to pay taxes and insurance. It is wise, however, that you are consulting with an attorney in your state....

Buying or Selling a Home: Buying a home in Gettysburg?, buyer agency representation, first time buyer
buyer agency representation, first time buyer, historical preservation: First, in PA there is no presumed buyer agency as there is in MD. You have to tell the agent that you want buyer agency representation, and sign a form to that effect. Next, get a local (but referred or credentialed) Gettysburg agent. Agents that work in...

Buying or Selling a Home: Buying a home in Las Vegas, eye of the beholder, buying a home in las vegas
eye of the beholder, buying a home in las vegas, investing in real estate: Hi Cathy, thank you so much for posting. When it is a buyers market what it means is that buyers may have more choices and you may be able to negotiate the price. It s funny because most people want to buy when it is a sellers market. But what people...

Buying or Selling a Home: Buying a home from In-Laws, realestate agent, state of mississippi
realestate agent, state of mississippi, laywer: Hi Michelle, I would think that in the state of Mississippi it would be the same as Pa but not sure. Here all you would need to do is contact a title company and they would do the title transfer and taxes. You may want to have an attorney if this involves...

Buying or Selling a Home: Buying home on a low interest rate, first time buyer, interst rates
first time buyer, interst rates, low interest rates: Hello Sid, thank you for your question. My advice hmmmmmm. Well honestly in the past three years, our area has experienced such a demand for housing that the prices have risen beyond anyone s wildest imagination. Each year, we ask ourselves when will...

Buying or Selling a Home: Buying a home in Maryland., buying a home in maryland, mortgage products
buying a home in maryland, mortgage products, mortgage companies: Guy: Yes, you can do that. You need to talk to a bank or mortgage company. Pick a few different mortgage companies or banks in your area. Call them, speak to a loan officer and tell them that you want information on an investment loan. Tell them your...

Buying or Selling a Home: Buying a home that needs repairs, home inspections, sate
home inspections, sate, competitive market: I am not sure which sate you are in but the agreement of sale for Pennsylvania lets you choose two options for the home inspections claus..also if your closing is in about 5 weeks you might be out of the time frame to ask for repairs. Are you working with...

Buying or Selling a Home: Buying home from owner who wants to avoid capital gains?, baltimore maryland area, bel air md
baltimore maryland area, bel air md, acre of land: Assuming this is already a rental property and this is not her primary residence for the past two years, Brian, it looks like you re NOT going to buy it, if the sale hinges on her not paying capital gains tax. There are only two ways she can avoid paying capital...

Buying or Selling a Home: Buying a home for a parent, daveramsey com, dave ramsey
daveramsey com, dave ramsey, clark howard: Hi Lorraine, I m just a home inspector and certainly not an expert in financial matters. You really need to speak with a financial consultant who has experience in this field. Two nationally known talk radio host that will be able to help you are Dave...

Buying or Selling a Home: Buying a home with a partner, metro areas, equal share
metro areas, equal share, denver boulder: Hi Angela, What part of Colorado are you looking to purchase. If it s the Denver/Boulder metro areas, I would be happy to help you personally. There are a few ways to attack this, but the simplest way is for you to gift your part of the down payment...

Buying or Selling a Home: Buying a home from a relative, rightful share, tax implications
rightful share, tax implications, siblings: Hello KJ and thank you for your question. Making a simple loan to your mother is the best solution in my opinion. I would certainly check with your tax advisor to see what tax implications may apply to your situation. Because you have siblings, they...

Buying or Selling a Home: Buying a home from a relative, jessica bryan, necessary documents
jessica bryan, necessary documents, peace of mind: Dear Robin; You should have an attorney draw up the necessary documents that will then be recorded with the county. The attorney will make sure that the deed is delivered with clear title and recorded as such. The last thing you need is a complication that...

Buying or Selling a Home: Buying a home in Sacramento, booming market, carmichael
booming market, carmichael, buying a home: Dear Jimmy, The only thing I can tell you for sure is that no one knows the future. Markets fluctuate so we know at some point the market will slow but when.....who knows? Too many people in the past have put off buying and now can t get into the market....

Buying or Selling a Home: Buying a home, real estate professionals, time lisa
real estate professionals, time lisa, fratus: is your sister a real estate professional. the seller hired a professional to represent her. rather you hire an agent or not the real estate professionals get paid not the buyer with the real estate. you can request certain monies from the sellers if your...

Buying or Selling a Home: Buying homes, tax lien auctions, foreclosure proceedings
tax lien auctions, foreclosure proceedings, county municipalities: Hi Sammie, Thank you for your question. Information on properties in foreclosure proceedings are available from your local and county municipalities. Information is also available in your local newspapers listing tax lien auctions. Local business...

Buying or Selling a Home: Buying a house, title deeds, ownership interest
title deeds, ownership interest, buying a house: Hi Jacquis, Thank you for your question, but I need more information. It sounds like the seller is not allowing you to do a title search before the purchase is closed. The title search researches the ownership and lien history of the property which...

Buying or Selling a Home: Buying a house, excess deductions, standard deduction
excess deductions, standard deduction, tax expert: Dear Allexperts visitor: I am not a tax expert, but if I were you I would try to accumulate as much tax credits as possible, even if it is over my standard deduction. Why? Well because it is better to have more deductions than less. I wonder why are you...

Buying or Selling a Home: Buying a house, standard deduction, tax implications
standard deduction, tax implications, buying a house: I would think that the interest rate you could obtain at the present would override the 6 months of interest. Since rates are still very low it doesn t make too much sense waiting until Jan. for the unknown. Interest rates could go up at any time. This would...

Buying or Selling a Home: Buying the house, utility hookups, mobile home community
utility hookups, mobile home community, property taxes: You only need to pay rent for the land if you put your mobile home in a mobile home community. If you buy your own land with the proper zoning for your area, you can put the mobile home on there with no extra land rent. However, the mobile home becomes attached...

Buying or Selling a Home: Buying house, quiet title, life estate
quiet title, life estate, easement: Hi Peggy, Thank you for your questions. What you need is a quiet title suit. You can get an attorney to research the deed and find out who owns what, then a judge makes a decision. That removes the cloud from the title and decides who should be on the deed....

Buying or Selling a Home: Buying a house, title deeds, buying a house
title deeds, buying a house, real estate: I am glad i am in the real estate biz cause I do learn new things within it. I have heard of landed property before but never bothered asking about it. NOW I Can. In what state are you? What is a landed property? This term is not used anywhere in RE...

Buying or Selling a Home: Buying a house, title deeds, buying a house
title deeds, buying a house, property tax: Jacquis, ????? I m not sure what you are referring to, unless it might be buying it for taxes from the property tax assessor s office when they go on sale. Even then, that is the extent of what I know about it. I recommend you ask this question...

Buying or Selling a Home: Buying a house, title deeds, buying a house
title deeds, buying a house, purchase agreement: There really are none , because part of the whole transaction is that in order to convey (or sell) property from one party to another , a free and clear title and deed has to be given before the loan can close. I would never pay cash for a property like this...

Buying or Selling a Home: Buying a house, knowledgeable realtor, togther
knowledgeable realtor, togther, local real estate: Since you are new to real estate, I strongly recommend you consult with a local REAL ESTATE attorney and pay his/her fees to make sure you buy that condo properly and you re not stuck with problems. Or, you might be able to find a very knowledgeable Realtor...

Buying or Selling a Home: Buying house, gary eldred, todd thornton
gary eldred, todd thornton, mortgage co: Aaron, The process of buying a home is far too complicated for me to cover in one email, but you need to begin with having your credit checked by a local lender or mortgage broker. They could then advise you of your financing options so you d know what...

Buying or Selling a Home: Buying house, state mortgage, mortgage co
state mortgage, mortgage co, cable bill: You begin by getting prequalified by a mortgage broker. You tell him or her about your financial position (income, assets,employment) and you tell about your credit history. They will run your credit report and tell you exactly how much you can afford. ...

Buying or Selling a Home: Buying house, mortgage representative, mortgage co
mortgage representative, mortgage co, cable bill: You first find yourself a mortgage representative who will help you qualify for a house of your choice. You may have to interview a few to find the right one. Then you go answer ads because you will now be qualified to buy a certain priced house. That will...

Buying or Selling a Home: Buying a house, standard deduction, tax implications
standard deduction, tax implications, buying a house: Hello Woody and thank you for your question. Your question really needs to be presented to one of our tax advisors or you own as I am not an expert in that field nor am I aware of your financial situation. Reagarding when is the best time to buy, I can...

Buying or Selling a Home: Buying a house - Asthma and allergies, fragrance sensitivity, chemical fragrances
fragrance sensitivity, chemical fragrances, savvy home buyer: Dear Kathy; There doesn t seem to be a question here but a very good point. It is true that there are some people who have sensitivities to fragrances and no home should have heavy aromas that assail the nose when you walk in. However, there are other smells...

Buying or Selling a Home: Buying a house with bad credit, buying a house with bad credit, credit position
buying a house with bad credit, credit position, state mortgage: It is possible for you to buy a house in your name with your credit position in a couple of years. In order to accomplish this you need to do all of the following: 1. Save Money. Save up at least 20% of the purchase price of the home you are thinking...

Buying or Selling a Home: Buying a house with another couple., dear peter, buying a house
dear peter, buying a house, bernstein: Dear Peter, Once the property is converted to 2 separate condos the other couple can encumber their unit without involving you. You really need to talk to an attorney for all aspects of creating the conversion as it is beyond a realtor s expertise. You...

Buying or Selling a Home: Buying a house with our daughtwr, co borrower, mortgage payment
co borrower, mortgage payment, financial interest: Dear Rhonda; Thank you for your question. This question is commonly asked by a number of parents who want to help their kids purchase their first home. Depending on your daughter’s credit and ability to obtain financing for the home, this will be the determining...

Buying or Selling a Home: Buying a house from Parents, tax ramifications, jessica bryan
tax ramifications, jessica bryan, getting a loan: Dear Tim; The only problem that this would create is for the rest of the neighborhood and comps in the neighborhood. Also, if you try to get an equity loan you may have problems justifying a higher price. Your parents may need to consult an attorney and/or...

Buying or Selling a Home: Buying a house from a relative in San Diego California, family trusts, jessica bryan
family trusts, jessica bryan, san diego california: Dear Jay; You will need to consult with an attorney to deal with the Trust. If your sister is purchasing the home without you then there is additional value that you are losing. Again, an attorney will need to be consulted. Since living Trusts or Family...

Buying or Selling a Home: Buying a house with tennants, termination clause, lease contract
termination clause, lease contract, lease agreement: It depends on the lease agreement. You should request a copy of the lease contract and read the section about early termination of the contract. Different contracts have different options and its different in every situation. Its important to read the contract...

Buying or Selling a Home: Buying a house that has termite, termite colony, contract wording
termite colony, contract wording, floor joists: Hello Janie and thank you for your question. Understand I am not licensed in New York so I am not aware of the particular laws and the language of your purchase contract. My suggestion is this, contact your lender at once as they will be very interested...

Buying or Selling a Home: Buying a house as an unmarried couple, right of survivorship, joint tenant
right of survivorship, joint tenant, joint tenancy: The fact that he wants to draw up a separate contract as to my rights to the house if something were to happen in the relationship is proof enough that yes you must have the title in joint tenancy with a separate accounting as you said on the side, Jan....

Buying or Selling a Home: Buying a house, v propp, unauthorized practice of law
v propp, unauthorized practice of law, local real estate: Roezina, This is strictly a question for a good, local real estate attorney. He/she would know exactly what to do or at least the options you have available. For me to make suggestions on this type of question would really be unauthorized practice of...

Buying or Selling a Home: Buying Investment Properties in Albany, putnam counties, mr weber
putnam counties, mr weber, sales contract: Hi Ambershawn, In New York around Manhattan, Long Island, Westchester, Putnam counties the attorneys handle the preparation of and processing of the sales contract, the title search and closing and settlemment documents. A few years ago we Realtors attempted...

Buying or Selling a Home: Buying Investment (Rental) Properties, current mortgage, time payments
current mortgage, time payments, s market: You ask a very deep question, Monica, that requires a very extensive reply. However, I do not have the time to write out what would ultimately turn out to be a book. So, I will touch on it lightly here. First of all, you should drive around the neighborhoods...

Buying or Selling a Home: Buying Land in Texas, land specialist, new experience
land specialist, new experience, worthington: That is a question as big as Texas! Where are you located? Where in Texas do you want to buy? Each section would have its own set of things to be aware of. Are you living in Texas now? Are you a US citizen? What do you want to do with this land? I would need...

Buying or Selling a Home: Buying from a LIVING TRUST MEMBER, trust member, correct person
trust member, correct person, living trust: If you are buying from a living trust, Kumar, the person who is a succeeding trustee is the person who will sign all the papers for the seller. If you are working with a Realtor or real estate attorney, it is his/her job to make sure you are dealing with...

Buying or Selling a Home: Buying land with brother, brother my brother, parcels
brother my brother, parcels, aol: I would recommend you make a lot split. You will have to go through the paperwork with the county and an expert who will help you divide the land per your choice. Your brother would have his half and you would have yours. Then you both can do as you please...

Buying or Selling a Home: Buying land and a building from Neighbor, county planner, x 90
county planner, x 90, neighbor: You don t say in which state you reside, but the first thing you must do is to go to your city/county planner and find out if what you are trying to do is even legal. If it is, they will tell you what you must do. As for the fees involved, Jake, that s a matter...

Buying or Selling a Home: Buying land from family member, first american title, company lawyer
first american title, company lawyer, palo pinto: I would go into First American Title on Palo Pinto street and ask them to do it for you. They are across the street from Brookshires. Just remember them when it is time to sell. They can handle the paperwork for you. Tell them Dottie sent you from Worthington...

Buying or Selling a Home: Buying land, profed, realitor
profed, realitor, board of realtors: Jennifer, You should report the realtor to the local Board of Realtors. A reputable realtor will work with you and it is absoulutely critical that you see the land. Something is obviusly not right here. The land may be under contract but you should still...

Buying or Selling a Home: Buying from landlord, renting a home, great starting point
renting a home, great starting point, moving expenses: Hi Jennifer, Thank you for your question. Since you are already in the house you won t incur moving expenses and you also won t have to spend a lot of time looking for the right house. If you are happy in the house that is a great starting point. ...

Buying or Selling a Home: Buying out a life estate, step mom, life estate
step mom, life estate, stepmother: Your stepmother is not on title, right? Therefore she cannot do anything with it, certainly not sell it. However, as long as she lives there, she does have that right because of the life estate. If she plans to move out to live with her kids, then get a simple...

Buying or Selling a Home: Buying on a low interest rate market, interest rate market, interst rates
interest rate market, interst rates, low interest rates: OVERALL, one cannot lose by buying with low interest rates. An exc idea also is to get an interest rate only loan, 95-100%, and then, go to PITI in 3-5 yrs and starting the 3rd year, start making payments 2x a month instead of only 1 time. start there....

Buying or Selling a Home: Buying A Modular Home..., harrisburg pa area, time home buyers
harrisburg pa area, time home buyers, first time home buyers: John, Modular homes are huge, particularly in your area because of costs, but also for the speed of being into a finished home vs. stick built on site. You certainly can aquire a home in the $75,000 range for 1400 square feet of living space. In fact,...

Buying or Selling a Home: Buying A Modular Home..., harrisburg pa area, time home buyers
harrisburg pa area, time home buyers, first time home buyers: John, Not having any idea of their cost, I searched the internet for modular home using Google. I came up with many modular home we sites ... but no prices. So I still have no idea what they cost. I recommend you do that search, then contact some...

Buying or Selling a Home: Buying Mom's House, quick deed, claim deed
quick deed, claim deed, tax expert: First thing YOU MUST DO before you do anything else is to consult with a CPA or Tax expert to make sure what you are planning to do is correct and will not raise some eyebrows at the IRS. Just because you have been paying your mother s mortgage for the...

Buying or Selling a Home: Buying my Mom's house, money recieved, sq ft garage
money recieved, sq ft garage, home equity loan: First of all, Duane, if you have lived in and owned your home for two of the five years prior to selling your house, you are allowed a capital gain of $250,000 ($500,000 if you and a spouse who file jointly) for which you do not have to pay any tax. So forget...

Buying or Selling a Home: Buying a Multi Family home, being a landlord, todd thornton
being a landlord, todd thornton, fourplex: Guy, A lender could use existing leases to show as part of your projected income if you wanted to buy a three family unit. I d suggest you meet with a local mortgage broker so they could pull your credit and give you some options on what loans might be...

Buying or Selling a Home: Buying a Multi Family home, getting a loan, debt ratio
getting a loan, debt ratio, mortgage broker: As long as you are going to live in the property it can be considered owner occupied. You will not be able to use the income generated from the other two units initially because there is no history , unless they are currently rented out for that amount and...

Buying or Selling a Home: Buying a manufactured home, mh parks, trailer parks
mh parks, trailer parks, manufactured home: Hi....Tried calling you all afternoon the other day...got no answer...are you still in the market? The home I was going to show you has an offer on it, but you might still want to stay in touch....talk to you... ~ Mike Hello Eriko First I need to...

Buying or Selling a Home: Buying with a mortgage, current mortgage, mortgage payments
current mortgage, mortgage payments, 100k: Sure, MJ. You and he can do that. Only, why not have him open up a rehab account from which you will use the funds to fix up the place instead of paying down the mortgage. THEN when you have the property all dolled up, you can get a brand new loan for the...

Buying or Selling a Home: Buying a multi family home, stated loan, buying a condo
stated loan, buying a condo, numbers work: Hi Guy, I m assuming a triplex right? Well I think you probably would be able to get a loan if you have it established as an owner occupied property purchase. You could probably get 100% financing as well but it will all depend on your Credit! How s your...

Buying or Selling a Home: Buying a New contruction home, hard wood flooring, tight margins
hard wood flooring, tight margins, finish basement: Kenny, I don t know what area of the country you are in so I can only reply to the way our area works. Typically there is little negotiations with builders. They have fairly firm prices and don t be surprised if they do not agree to add a large list...

Buying or Selling a Home: Buying a New Home from Builder, pre approval letter, exact situation
pre approval letter, exact situation, mortgage credit: Hi Juanita, Congratulations on your decision to buy a new home. Welcome to the wonderful world of trying to get one in the type of market we are currently in! It can be dog eat dog. My suggestion is to find the homes that you would like to purchase and...

Buying or Selling a Home: Buying a new construction home in MA, hard wood flooring, construction inspection services
hard wood flooring, construction inspection services, zillion questions: Hello Kenny, Sorry for the delay, I had a family emergency. To avoid asking a zillion questions (some examples are below) buyers ask to see examples of similar homes that have already been built. Is yours going to be similar to the other 3? If so you...

Buying or Selling a Home: Buying a new construction home, hard wood flooring, finish basement
hard wood flooring, finish basement, earnest money: The answer to your question is that everything is negotiable. Your leverage will come from the fact that you will terminate the contract. Usually there is a clause in there that allows you to inspect the home. If there is not you would usually only lose your...

Buying or Selling a Home: Buying a new construction home in MA, hard wood flooring, finish basement
hard wood flooring, finish basement, telphone: Kenny... these are all good questions. Buying a home is different in different regions of the US. In this process you are having the meeting to see if the builder can offer to you a spec. that is acceptable for your needs. Because the house is at foundation...

Buying or Selling a Home: Buying new construction house, mortgage company, new construction
mortgage company, new construction, contingency: Hi Robert! Purchasing new construction is just like purchasing a re-sale. However, new construction a lot of times will not come down on the price. You can though, ask for upgrades at a reduced price. Or, even an allowance towards appliances. Many new construction...

Buying or Selling a Home: Buying a new home/selling old home, bridge loan, single payment
bridge loan, single payment, insurance premium: This is a great question! The category of mortgage loan that allows for a single payment is often identified as a bridge loan. A bridge loan, for example, would allow a homeowner who was having a new home built to make payments to their general contractor...

Buying or Selling a Home: Buying new homes, solid surface counter tops, material increases
solid surface counter tops, material increases, building job: Hi Joanne, Thanks for clarifying your earlier question. Yes, what you are describing -- the SAME home with the SAME amenities, not yet built, and priced $5,000 LESS than an identical new home already built -- seems to be “backwards.” Unless one of...

Buying or Selling a Home: Buying a newly built home, mr dennis, ifs ands or buts
mr dennis, ifs ands or buts, closing date: Keep in mind, Kirstie, that your Realtor (if that is what he or she actually is and not an employee of the builder) doesn t get paid until you close. That forces the agent to do what YOU WANT before you are stepping foot into that closing room. I guarantee...

Buying or Selling a Home: Buying outright vs. a loan, buying a home, inheritance
buying a home, inheritance, income tax: To improve the status of your credit, I would get at least a loan equal to one/third of your purchase. It is a loan you can handle okay and it should help. If you have a good income, paying interest is deductible on your income tax each year. Just be aware,...

Buying or Selling a Home: Buying out Partner, knowledgeable realtors, claim deed
knowledgeable realtors, claim deed, property appraiser: First, Charles, you are going to have to realize that until you do refinance the loan, she is going to be co-responsible for the payment of the mortgage. Second, if you do not want to spend $300-$400 for a legitimate property appraiser, call in at least...

Buying or Selling a Home: Buying a Pre-Built house, Or Buy a land, Construct by Contractors, interms, url bar
interms, url bar, construction costs: I am sorry, Sunny, that I cannot provide you with numbers in this case because I am not familiar with fees (and there are a bunch of them in each separate parts of this country) and building costs in YOUR area. For example, costs in my area here in California...

Buying or Selling a Home: Buying Preforclosure Home, county recorders offices, time home buyer
county recorders offices, time home buyer, first time home buyer: Congratulations on your first home purchase. Are the preforeclosures online current? They re usually 2 weeks or more older, which means the investors with good relationships with realtors or the ones who are already agressively marketing to these people...

Buying or Selling a Home: Buying parents house, jessica bryan, depressed area
jessica bryan, depressed area, housing market: Dear Jennifer; First of all, it is important to know the value of the home and to have it inspected to determine what repairs and other expenditures you might encounter. You will need to figure out what you will charge them in rent (if anything) based upon...

Buying or Selling a Home: Buying out parents, irs purposes, estate tax purposes
irs purposes, estate tax purposes, tax concern: You may handle the transfer of title anyway you want, Lisa, but one way or another you ARE going to pay for it. I presume you are going to pretend that your parents never had title in the condo rental. That s fine with them, but one day in the future you are...

Buying or Selling a Home: Buying partner out of his portion of house, 30 year fixed mortgage, quick claim deed
30 year fixed mortgage, quick claim deed, mortgage route: The proper way to buy someone out of a property is through a new first mortgage cash out refinance. This way, at the closing there is a quit claim deed transferring ownership from him and you to you and the mortgage that you both signed for initially has...

Buying or Selling a Home: Buying a previous rented property, sellers responsibility, twenty four hours
sellers responsibility, twenty four hours, rented property: There are two sure ways of getting the tenants out of there, Chris. #1 - Tell your agent that if the tenants are not out of there by the 30th (chances are their rent is good until then, regardless what you attorney said), you are cancelling the transaction...

Buying or Selling a Home: Buying privately after listing has expired, jessica bryan, private deal
jessica bryan, private deal, time limit: Dear Rochelle; The listing agreements usually include a clause that states something about the agent getting a commission if the home sells after the listing expires if the home is sold to someone who saw the listing during the time it was listed. There...

Buying or Selling a Home: Buying properties under an LLC, limited liability company, investing in rental properties
limited liability company, investing in rental properties, flipping houses: Orest: Yes by holding the properties in a LLC, you may protect your individually owned assets from liabilities that arise from the property. It is also a good way to clearly define the rights and responsibilities of you and your friend as business partners....

Buying or Selling a Home: Buying a property owned by a bank and a disappeared owner, illinois laws, buying a property
illinois laws, buying a property, local real estate: If I understand this correctly, the bank lent 50% of the property to a skip artist. Okay. So they foreclosed on his 50%. And now they own 50% of the property with someone else. You did not say that that person at one point owned 100% of the property. So, who...

Buying or Selling a Home: Buying Real Estate, real estate transactions, relators
real estate transactions, relators, buyers and sellers: Hello Cornell, The reason Relators and Attorneys exist in Real Estate transactions is to represent buyers and sellers. It is one of the largest and most important transactions a person makes in their life so it is worth it make sure everything works in...

Buying or Selling a Home: Buying Real Estate, myrtle beach sc, david garcia
myrtle beach sc, david garcia, how to get started in real estate: Cornell, Yes, I do teach new investors into learning how to get started in Real Estate. I can coach you online, provide you leads along with forms necesarry for a 50-50 split. I ask for a $195.00 start up fee to insure that student is serious...

Buying or Selling a Home: Buying a Rental with a Tenant, residential tenants, commercial tenants
residential tenants, commercial tenants, single family: Kris; this is easy. AS long as the tenant s lease is valid, they can stay. YOU Cannot harass them re their current lease. IT is also necessary for you to inform them that [assuming they do not have a (rare) right to renew clause [normal for commercial...

Buying or Selling a Home: Buying real estate from Canada, certified public accountant, financial counselor
certified public accountant, financial counselor, tax burdens: Mike--None of the Experts here can answer your question! You need to check this out with a CPA or Certified Financial Counselor in the State of Texas with regard to U.S. & State Tax implications of your purchase of property there! A Canadian Certified Public...

Buying or Selling a Home: Buying without a realtor, appraisal issues, consumer concerns
appraisal issues, consumer concerns, personal relationship: Dear Dee; Buying without a REALTOR is very risky when you don t know the market and/or the area. If you are very familiar with the property, know the values in the area, and have a personal relationship with the seller then perhaps bypassing the services...

Buying or Selling a Home: Buying a rental from overseas, teaching in south korea, rate insurance
teaching in south korea, rate insurance, couple questions: If you re going to rent the house to your brother, it ll be an unusual situation, but can be done with his name on title with you, AND ALSO ON THE LOAN. I strongly suggest you consult with a REAL ESTATE attorney to put this matter together for you, to protect...

Buying or Selling a Home: Buying & Selling a Home at the Same Time, financial losses, short term rental
financial losses, short term rental, temporary home: Hey that is a Great Question and one that we deal with all of the time! OK. Only a few options here as follows: One: Rent back from the buyer and stipulate that as a condition. Many people may find this attractive for a variety of reasons. I would...

Buying or Selling a Home: Buying & Selling a Home at the same Time, financial losses, temporary home
financial losses, temporary home, contingency: There are two suggestions for you, Richard. One is to go make your offer on the house you want subject to the sale and successful closing of your present house (opposite of what you thought you would have to do). Trouble with that, of course, is that you may...

Buying or Selling a Home: Buying & Selling a Home at the Same Time, financial losses, bridge loan
financial losses, bridge loan, paced market: Hello Richard, thank you for your question. You have correctly identified the difficulties in working with a fast paced market. Ain t it great... Even though you remark of your concern for placing a HOC (home of choice) contingency in your selling remarks,...

Buying or Selling a Home: Buying and Selling homes, right place at the right time, good neighborhood
right place at the right time, good neighborhood, drastic fall: Michael, Buying and selling homes is a serious business. You have undoubtedly read and heard about people making a lot of money in this bull housing market , but in general they are people who either know what they are doing or who have been in the right...

Buying or Selling a Home: Buying and Selling, contingency clause, bridge loans
contingency clause, bridge loans, state mortgage: If you cannot afford the payments on your current home and the one you wish to purchase, then you need to wait until the current home sells in order to complete the purchase of the new one. This is accomplished with a contingency clause added to the purchase...

Buying or Selling a Home: Buying/selling process gone bad!, contigency, earnest money
contigency, earnest money, home loans: Hi Stephanie; If the contingency is still in effect and you didn t sign anything to drop the contingency after your home went under contract, the seller of the home that you are buying does not have the right to hold your earnest money deposit. You will...

Buying or Selling a Home: Buying/ selling, pre approval letter, money transactions
pre approval letter, money transactions, calm down: Ok... Calm down. Escrow can not help you as they are a third party company. They are neutral and will not help you. Go back to your sales agent. Someone represented you. They have an obligation to you to respond to these concerns. If they do...

Buying or Selling a Home: Buying Town House first time, todd thornton, mortgage plan
todd thornton, mortgage plan, installment basis: Malikson, The best website to determine appropriate interest rates in his area is www.bankrate.com. The rate will be a function of his credit rating. Since rates fluctuate daily and are dependent on his credit, there s no way I could say what his interest...

Buying or Selling a Home: Buying a Townhouse in Florida, native floridian, working with realtors
native floridian, working with realtors, north fla: I am on vacation up north and don t have time to answer your question completely right now but if you send me another email to my regular email address at Judiepru@aol.com, I will try to help you more when I return to FL. Judie There are no fees for working...

Buying or Selling a Home: Buying tax deliquent property, surplus index, aol
surplus index, aol, prospective buyers: You can be guaranteed that there will be people who will have done their research BEFORE the submit their offer for those properties. You will have to go to the county seat and look at a map in conjunction with the numbers you see there. If you know where...

Buying or Selling a Home: Buying out and 'upside down' mortgage from a partner, downpayments, mortgage payments
downpayments, mortgage payments, second mortgage: Since you are upside down and in a downside market, Rob, I do not suggest you buy her half out, not even for a dime. You can give her a second mortgage for an unspecified amount, if you re feeling benevolent. It gets filled in when you do indeed sell the condo...

Buying or Selling a Home: Buying at the Villages, spruce creek, buyer protection
spruce creek, buyer protection, judie: Gary, I have been there a few times because my parents bought a house there and felt they were really scammed and reneged on the contract and ended buying a house in Spruce Creek. I have read that this is one of the fastest growing areas in FL although I...

Buying or Selling a Home: Buying vacant land, tax assessors office, vacant lot
tax assessors office, vacant lot, lawn maintenance: Hello, There has been an email issue that kept me from responding sooner. Sorry. The property could be split and you have options to buy it later from the other buyer or maybe from the original owner if they buy it back. I do not believe you can...

Buying or Selling a Home: Buying vs. Building, sized garage, taking the risk
sized garage, taking the risk, professional contractor: Dear Mr. Adam: You could look at your local newspapers, real estate magazines, etcetera for ads and notices about auctions, foreclosures, and government sales, also you could use the services of real estate agents to find you some. In addition to that,...

Buying or Selling a Home: Buying "As is", kansas city missouri, first time buyers
kansas city missouri, first time buyers, inspection time: Yes, I feel it would be incorrect to ask for the seller to pay for your inspection, as is or not. Would you even trust the seller s inspection? You probably should not. As is means, in most areas, that you are buying the house as it now is , with...

Buying or Selling a Home: Buyng investment property., depressed area, real estate agent
depressed area, real estate agent, investment property: Hi Anna, Thank you for your question. Was the appraisal done by a real estate agent or by an appraiser? Is the $171,000 valuation in the condition the house is in now? What are the values of the other houses in the neighborhood? What is the overall...

Buying or Selling a Home: Bying a home, jacksonville florida area, credit card minimum payments
jacksonville florida area, credit card minimum payments, fixed rate mortgage: Dear David; To answer your questions about relocating to Jacksonville, Florida; first of all there are several things that you can be doing right now. Log on to www.realtor.com and search for homes in Jacksonville. To do this effectively, you should get...

Buying or Selling a Home: Bypass buying agent, mike dick, necessary paperwork
mike dick, necessary paperwork, condos for sale: You may use any Realtor you want, Mike. But be aware if you deal directly with the seller or through his agent, that agent is obligated to protect his seller s interests. And if you deal directly with the seller, you don t know if you are using all the necessary...

Buying or Selling a Home: backing out of escrow, contingencies, escrow
contingencies, escrow, ramifications: Dear Terry, You have to look at the contract that your father signed. If he still has some contingencies that are yet to be removed he can probably get out based on those. If he has removed his contingencies his $1,000 deposit may be in jeopardy. Have...

Buying or Selling a Home: backing out of a lease/option, lease options and lease purchases, approval period
lease options and lease purchases, approval period, lease option: Dear Linda: I am sorry you are going through such trauma about what should have been a happy situation. Lease options and lease purchases are major problems, however, and so fraught with liabilities that wise agents tell their principals that they are deserving...

Buying or Selling a Home: Is this a bad agent?, inspection phase, negotiation process
inspection phase, negotiation process, inspection period: Wow, that situation sounds terrible. Agents cannot answer for you. They can say things like this agent said, non-committal statements like, I think xyz etc. They cannot state something as fact when it is not. Regarding the rent back situation,...

Buying or Selling a Home: A bad realtor, certified mail, board of realtors
certified mail, board of realtors, local board: Based on what you have written, Jane, I wouldn t wait one more minute and send his company a notice via certified mail (not him because he will tear it up) that your listing is no longer effective and state why. And that you are hiring another real estate...

Buying or Selling a Home: bad realtor, money pit, good answer
money pit, good answer, first house: Hello Shannon and thank you for your question. Sorry for the delay in answering however I have been on vacation and just returned last night. I apoligise for the system not indicating my being out of town. I am not sure at this point what can be done to...

Buying or Selling a Home: basement floor crack in new home, radon test, john mckenna
radon test, john mckenna, wood destroying insects: The cracks in the concrete can sometimes be small and normal cracks, or they may indicate a bigger problem. I recommend a complete inspection by a qualified Professional to ensure that you fully understand what you have there. I cannot see what you are...

Buying or Selling a Home: basement square footage, rumpus room, price per square foot
rumpus room, price per square foot, cobwebs: The basement is usually treated like the garage in many cases. The square feet of a home ONLY includes the area that is HEATED AND COOLED like the rest of the house. Otherwise it is not included in the total square feet. If it is heated and cooled like the...

Buying or Selling a Home: basement, anchor bolts, lally columns
anchor bolts, lally columns, cement floor: These would be my concerns, based on which you saw: 1) If the floor was poured around the concrete around the columns (you should be able to see a vertical crack encircling the concrete around the columns), did the floor drop (i.e., settle ) or was it...

Buying or Selling a Home: basic questions on inspection, real estate sales contracts, real estate sales
real estate sales contracts, real estate sales, buying a house: Let s start here. The buyer (you) pays for the home inspection as the home inspection is to help protect your interests by advising you what needs to be corrected, replaced, repaired, etc. Must (should be all, hopefully it is all) real estate sales contracts...

Buying or Selling a Home: How do you become a realtor?, realtors office, becoming a realtor
realtors office, becoming a realtor, real estate sales: Hi Jo, Thanks for your question. If you woulod like to enter the real estate sales profession you need to start by meeting with some of the local real estate office managers to find a location and manager that match your preferences. Once you have...

Buying or Selling a Home: How do you become a realtor?, becoming a realtor, montgomeryville pa
becoming a realtor, montgomeryville pa, state test: I am so sorry I did not get back to you right away for some reason the e-mail went into my junk folder. You can either take classes at a community college or I am not sure where you are from but a good place if you are close to take your courses is Schliker-Kratz...

Buying or Selling a Home: How do you become a realtor?, becoming a realtor, jessica bryan
becoming a realtor, jessica bryan, stationary supplies: Dear Jo; Quite simply, taking the course and getting your license is the fast answer and probably not a bad one. It doesn t hurt to get your license and is relatively quick and inexpensive. Having said that though, to be a success and make real estate your...

Buying or Selling a Home: About becoming a realtor, dear mona, becoming a realtor
dear mona, becoming a realtor, jessica bryan: Dear Mona; The beauty of being a REALTOR is you can make your own hours. If you want to do it part time no one is going to stop you! Part time means that you will sell less homes of course, and won t have as much time to devote to building your business,...

Buying or Selling a Home: which is better townhouse or house, noisy neighbor, kennesaw ga
noisy neighbor, kennesaw ga, first time buyer: Mariyan: I am not familiar with the area where you are considering buying, so I cannot tell you if it is a good deal or not, here in California it would be, but prices are higher here. As far as the difference between a townhome and a regular home, the...

Buying or Selling a Home: big problems with new home...need help., fha loan, woodburning stove
fha loan, woodburning stove, tall trees: Hello Maureen, Your best course of action is to speak with an attorney. You need someone who knows the law to negotiate and consult you. This is too important not to get a professional. He can be paid from proceeds of any settlement so you have no upfront...

Buying or Selling a Home: binder deposit, unethical business practices, todd thornton
unethical business practices, todd thornton, husbands name: Kellie, I answered this question before but the system sent me another email so if this is a duplicate I apologize. You need to check with a local attorney because all real estate law is state specific. I m not sure which system Texas uses. In most areas,...

Buying or Selling a Home: bond for deed and lease purchase, consultation fee, typical requirements
consultation fee, typical requirements, lease purchase: speak to a real estate agent that lists or sells bond for deed or lease purchase property . usually, these niche agents require a consultation fee but it s easier because the agent have spoken with sellers or buyers in the bond for deed or lease purchase market....

Buying or Selling a Home: booting another co-owner?, cousin lives, co ownership
cousin lives, co ownership, paying taxes: Since you do not say in which state the property is located, I STRONGLY suggest you consult with a REAL ESTATE attorney to protect your husband s interest in this matter. The attorney will tell you what steps you must take. Plus, he/she may take steps to have...

Buying or Selling a Home: Who's the boss?, hypothetical situation, who s the boss
hypothetical situation, who s the boss, house for sale: Dear Jim: This is usually in writing on the offer as to who represents who. I don t know what state you are in, but in Texas the listing agents represents the seller and can sometimes also represent the buyer. Also the buyer may have their own agent and you...

Buying or Selling a Home: bought a home but the 3rd bedroom may have been converted or done without permits, time home buyer, first time home buyer
time home buyer, first time home buyer, discloser: Dear Rick, The only thing you need to investigate is whether there were permits pulled when the 2 bedroom home became a 3 bedroom home. If the 3rd bedroom was originally a den and someone just added a closet to the existing room I wouldn t be terribly...

Buying or Selling a Home: bought a house with no sewer connection, public sewer system, sewer connection
public sewer system, sewer connection, sewer line: Hi Mary, Not knowing all the facts in your situation, I will make some general comments for you below. If the property was represented as being on a public sewer system, then any buyer would naturally assume that the sewer system is connected and is...

Buying or Selling a Home: bought a house, property condition disclosure, knoxville area
property condition disclosure, knoxville area, millington tn: Does your area have building codes? The shingles are probably under the manufacturer s warranty, however, the installation will not be. The installation is the likely problem - thus no warranty. Sounds like the shingles were just laid up there...

Buying or Selling a Home: boundary line, fence line, boundary lines
fence line, boundary lines, boundary line: Carole--I suspected something like what you ve just described! This situation COULD end up with you & the Builder IN COURT over LEGAL ownership of a parcel of land that MAY or MAY NOT have been accurately described in the Documents that transferred ownership...

Buying or Selling a Home: My boyfriend house, boyfriend lives, claim deed
boyfriend lives, claim deed, lease option: Well, let me try it a different way, Ela. If his mortgage is $200,000 and you have paid a year s worth at $900, that means you paid $10,800 for a year. You have not told me what the TOTAL monthly payment was. I have to know what percentage of the total monthly...

Buying or Selling a Home: brainstorming on buying in LA area, century 21 beachside, first time buyer
century 21 beachside, first time buyer, multiple listing service: Joel, Go to your lender and find out how much you qualify for as a first time buyer. Ask the Lender for a Pre-Qualification letter stating the amount you can borrow. Take this letter to a Realtor and they will look on the multiple listing service and check...

Buying or Selling a Home: breach and backkup, dual agency, two different directions
dual agency, two different directions, contingencies: The way I see it, once you decided the accept the 1.2 offer and sue the first guy for the difference, that is the way you should have gone. You cannot go in two different directions on the same property. Your attorney is the one who should handle this the...

Buying or Selling a Home: breach of contract, faith deposit, breach of contract
faith deposit, breach of contract, deposit money: Dear Phillip: I am very confused. The only monies you should have paid into the escrow or title company prior to closing was your good faith deposit. Usually, and I don t have a copy of your contract, the sellers signs documents stating that the title will...

Buying or Selling a Home: breach of real estate contract, breach of real estate contract, real estate contract
breach of real estate contract, real estate contract, contract question: Hey, Melissa. I was talking to a Realtor at Century 21 today about your situation. If you re using a Realtor with a major brokerage, many times they have attorneys who know how to enforce the contract, or make appropriate overtures, and the cost is simply...

Buying or Selling a Home: Can I break a contract for poor perfomance on my realtor's part?, mls realtor, interior shots
mls realtor, interior shots, estate business: 1. Did you get all these extras in writing? 2. What does the contract say? There is usually a paragraph about number of days notice that either party must give to cancel. 3. It is not customary for the listing agent to be at the showings unless it...

Buying or Selling a Home: Can I break this contract, realtors brokers, withdrawal fee
realtors brokers, withdrawal fee, relist: Hello Sherrie and thank you for your question. I am very sorry to hear of your situation and hope my response will give you some direction. In a perfect world, listing presentations would include providing the perspective seller with a marketing plan...

Buying or Selling a Home: breaking the buyers contract, bridge loan, contingencies
bridge loan, contingencies, contingency: Dear Laurel An, You are under no obligation to grant your buyers an extension to their contingency. If you are in the state of California you need to give them a Notice to Perform followed up by a Removal of Contingencies form. If they don t perform...

Buying or Selling a Home: breaking contract, third party financing, strict compliance
third party financing, strict compliance, approval time: Dear Everett: I will try for the third time to respond, after two unsuccessful attempts where I was confident that it had been correctly sent. I do not wish to piggy back on another person s answer to you, especially when that person has made valid points....

Buying or Selling a Home: breaking a contract, time linda, buyers agent
time linda, buyers agent, camels: In general RE/MAX has a wonderful reputation. However, each office is independently owned so it s possible that it has a bad rep. Usually the commission that the listing agent charges is split equally between the listing and selling company. **Read...

Buying or Selling a Home: breaking a contract on a house, todd thornton, real estate contracts
todd thornton, real estate contracts, houe: Betty, I can t give legal advice so they need to consult an attorney but typically real estate contracts are legally binding on both parties. If your friends didn t sell, the buyers could probably sue for damages or attempt to force them to sell the home....

Buying or Selling a Home: breaking contract, earnest money deposit, sticky mess
earnest money deposit, sticky mess, good faith: My guess is that this is your first home, Everett. Down through the years I have found that the first thing to watch for from a couple buying their first home is buyer s remorse. The buyer usually looks for any kind of reason for backing out of their first...

Buying or Selling a Home: breaking up! how to devide house??, legal recourse, jessica bryan
legal recourse, jessica bryan, financial obligation: Dear Christi; Your ex-boyfriend is part owner of the home even though he has no financial obligation on the loan. That is not good! In many states that is not even allowed by the lender. I think that you need to look at your situation carefully and probably...

Buying or Selling a Home: breaking a purchase agreement, sweat equity, land contract
sweat equity, land contract, renting a home: Dear Kim: I do not know what kind of land contract are you talking about. Do you mean 1) to purchase the land where the leased property is located or is it 2) to purchase a land somewhere else?. You probably meant the first option. Based on what you...

Buying or Selling a Home: breaking up and selling our house, timely payments, real estate agent
timely payments, real estate agent, landlords: I m not exactly sure I understand what I can do for you, Nicola. Very simply, if you are breaking up, you simply find a very good real estate agent to help you sell the property. Both of you will have to sign the listing with the agent, plus any and all documents...

Buying or Selling a Home: breaking up and selling a jointly-owned home, joint checking, insurance fees
joint checking, insurance fees, proper answer: Hello JS and thank you for the question. I am very sorry to say but your question has both legal and tax consequences, both topics of which I am not permitted to give advice on. You should present your question to one of the attorneys or accountants...

Buying or Selling a Home: buing a home without a realtor, jessica bryan, buying a home in austin
jessica bryan, buying a home in austin, option period: Dear Sarah; For one thing...you can certainly get representation! An attorney will be happy to help you from this point forward. An agent might also be persuaded (for a fee) to represent you. If you choose to try this on your own, just make sure to have...

Buying or Selling a Home: being bullied by seller to close early, option fee, quarter financials
option fee, quarter financials, breach of contract: Did a REALTOR write your contact for you? If so they used a form that covers all those angles. You would not have to close until all repairs are done. But without seeing your contract, I would consult an attorney to read it for you and make the builder perform...

Buying or Selling a Home: business name, legal ramifications, proper answer
legal ramifications, proper answer, residential property: Hello Brandon, thank you for your question. As much as I would enjoy answering this question - as it is what I do myself here in Virginia, what you ask has legal ramifications and falls under the jurisdiction of a state I am not licensed in, sorry but I...

Buying or Selling a Home: who can buy?, social security number, first time buyer
social security number, first time buyer, real estate in california: Bobby, contact the Department of Real Estate in California. Also contact the title or escrow company to find out the necessary documents that is needed to close the sale of your house. There is a real estate attorney on site. Usually, he/she will not charge...

Buying or Selling a Home: who can buy?, home interest rates, southern california area
home interest rates, southern california area, social security number: Hi Bobby- In my experience, I have found that almost ANYONE can buy with the right loan. I would suggest you call a colleague of mine who is an AWESOME realtor in the Southern California area. His name is Kevin and his number is (714) 270-0091 and he constantly...

Buying or Selling a Home: Should we buy now?, tulsa oklahoma area, secured card
tulsa oklahoma area, secured card, baddies: Dear Robyn; If it is only three months, I would get pre-qualified now and start looking at homes. By the time you find something and secure a loan your credit rating will probably go up. Or, in the event things haven t changed, in light of the fact that...

Buying or Selling a Home: How do you buy abandoned homes?, st louis mo, madison co
st louis mo, madison co, good luck: HI Jason, Thank you for your question. In order to find the owner of record for a property you should visit the local tax assessor s office. You can be sure they will know who the owner is if there is one because they are collecting the taxes (or at...

Buying or Selling a Home: How do you buy abandoned homes?, snohomish county washington, victorian farmhouse
snohomish county washington, victorian farmhouse, property auctions: Hi Alison, Try 360-705-7095 or internet www.wsdot.wa.gov/realestate/ I found property auctions for Snohomish county. Thank you for your question. Good luck with your purchase, it sounds exciting, have you searched the trail of ownership of some of...

Buying or Selling a Home: To buy condo or not to buy, stale cigarette smoke, bedroom condos
stale cigarette smoke, bedroom condos, ski facilities: Todd, Real Estate prices are based on square footage, not number of rooms. One bedroom condos under $100,000 are low end and difficult to sell. This decision really depends on your market. If it is within walking distance to the beach or ski facilities, or...

Buying or Selling a Home: To buy condo or not to buy, stale cigarette smoke, floor condo
stale cigarette smoke, floor condo, sq footage: Todd, It s hard for me to say what s the best option. Nobody can guarantee what the future will hold. I also don t know where you live. The colder the climate, the more likely the fireplace would be a bigger selling point. You can always compare costs...

Buying or Selling a Home: To buy condo or not to buy, stale cigarette smoke, reserve money
stale cigarette smoke, reserve money, floor condo: Dear Todd; You didn t say where you live (what state) and I don t pretend to know the market in all states, but I do know that everything is negotiable--especially at this time of year. The fact that this was the last unit left may mean that Buyers didn t...

Buying or Selling a Home: To buy condo or not to buy, location location location, stale cigarette smoke
location location location, stale cigarette smoke, floor condo: Hi Todd, thank you for your question, sorry is has taken me a while, I was on vacation and there was no internet access. Anyway, I don t know enough about were you are buying to give you a 100% answer, but just consider that Location, Location, Location,...

Buying or Selling a Home: Can I buy a home without a Realtor, proper documents, aol
proper documents, aol, realtor: Anyone may buy a home from the owner without a Realtor, Arnold. If the seller has his home listed with a broker, then it s the seller who is obligated to pay a commission. There is no law in California that says you must buy a house with a Realtor. If the...

Buying or Selling a Home: buy a house, fha program, rotenberg
fha program, rotenberg, government program: As long as you are working again and have money for a down payment it should not be difficult for you to get a mortgage for the purchase of a house. You do need to catch up and get current on your credit cards. You have to make that minimum required monthly...

Buying or Selling a Home: to buy a house someday, paying off debts, home thanks
paying off debts, home thanks, saving money: You are on the right path, saving money for a down payment. I don t know of an area where you can find a home in the price range you mentioned, but at the rate you are going, you could save that amount and pay cash. The more you can put down, the more serious...

Buying or Selling a Home: buy a house, david garcia, downpayment
david garcia, downpayment, bad credit: Eduardo, I have a lender that can get you a loan if you have 10% downpayment. The loan is NON-QUALIFYING. Credit is no issue. Just downpayment. If you don t have downpayment, I can loan it to you. David Garcia www.ezreinvesting.com ...

Buying or Selling a Home: How to buy a joint tenant out the cheapest way possible?, jessica bryan, right of survivorship
jessica bryan, right of survivorship, search surveys: Hello; I am finally back online! My computer crashed and I have a huge amount of email to answer. However, if you would still like an answer to your question I will be happy to answer within a few days…trying to get to the earliest ones first. Please understand...

Buying or Selling a Home: how to buy pre-foreclosure, nooks and crannies, mortgage companies
nooks and crannies, mortgage companies, enough money: It is a very laborious job, Olga. Like anything worthwhile. You first have to get access to the list of foreclosures that are happening in your area. Once you get that, then you have to know the market for those houses you see on the list. Then you check up...

Buying or Selling a Home: About to buy or rent in California, david garcia, land contract
david garcia, land contract, info thanks: Amber, Thank you for writing. I offer real estate investing training. I offer 3 day personal training in the art of no money down investing, I will teach student how to set up a lease option, subject 2, land contract, short sale & flipping deal. I can...

Buying or Selling a Home: buy/sell agreement, current market value, mijares
current market value, mijares, brother sister: Hi Connie, From what I gather in question the current ownership breakdown of the property is as follows: 50% to mom 16.66% to your brother 16.66% to your sister 16.66% to you If you are willing to give up your share of ownership to make your daughter...

Buying or Selling a Home: buy now or wait, empire area, luck john
empire area, luck john, inland empire: Scott: I would say now is probably one of the best times for you to buy also. If you sell and then rent for a while, the market may, and will slow, however I do not see prices coming down very much, if any. The problem you will have if you wait very...

Buying or Selling a Home: who can buy?, social security number, first time buyer
social security number, first time buyer, easy as pie: HOW did u get pre-qualified? Depending on where you are from; it will either be almost impossible to get a home loan, or easy as pie. I have never known an alien to obtain a loan from the US to buy a US property. WHAT protects the seller --other...

Buying or Selling a Home: buyer's agent release, board of realtors, complant
board of realtors, complant, brocker: Hi Julie, Did you make a formal complaint yet to the Real Estate Commission? This will not cost you anything except a little time. This BIC and his agent sound as though they left their brains at the station. I’m telling you, you are NOT stuck with...

Buying or Selling a Home: buyer's agent, fha loan, building a house
fha loan, building a house, construction loan: Hi Margaret, I am sorry to hear of your situation. It’s one that happens too often, and I hate to hear these type stories. You never said whether or not you have a Realtor representing YOU, but let’s assume, first of all, that you DID have a Realtor...

Buying or Selling a Home: buyer's bids, somerset county, stagnant market
somerset county, stagnant market, cheap money: Hi Jennifer, Sorry about the delay here. I thought I already responded to you. The answer is yes. Over the last 7-8 years buyers were schooled by the media and the marketthat they needed to offer asking price or better to win a bidding war for the...

Buying or Selling a Home: buyer failed to obtain financing, board of realtors, breach of contract
board of realtors, breach of contract, exact language: Hello John thanks for your question. I ll do my best here. Because I do not have the exact language of your contract to review I must ask you to call the local Board of Realtors in your area and ask for the legal department for an accurate opinion. It...

Buying or Selling a Home: buyer's guidance, professional inspector, top choices
professional inspector, top choices, third house: This is the BEST possible answer I can give you: First, YOU look carefully at the overall aspects YOU see, deciding which house fits your needs best and appears (to you) to be in the best condition. Then, take you top choices (1, 2, 3, etc.) and ask...

Buying or Selling a Home: buyer a home, dual agent, dual agency
dual agent, dual agency, contrat: TERRI: actually, the agent is NOT DOING his job and can lose his license! HE is OBLIGATED by law to get an offer in writing [although a verbal offer is legal, most agents will not bother with them and a seller accepting one is not responsible] -obligated...

Buying or Selling a Home: The buyer of my house is backing out of the contract, ample funds, breach of contract
ample funds, breach of contract, specific performance: Yes, Edith. You need to talk to a REAL ESTATE attorney, who will probably suggest suing the Realtor, too. By the way, the buyer cannot receive her deposit back without your signature as long as there is no contingency like you say. You should be suing the...

Buying or Selling a Home: i got a buyer for my land, reccommendation, best direction
reccommendation, best direction, financial risk: Hello Rachel and thank you for your question. You have neglected to say where you are located and so I can not properly assist you. I have to presume you are not working with a real estate agent and neither is the buyer and you are hoping to save yourself...

Buying or Selling a Home: What can be done about buyer lying about a cash deal., leach field, grape vine
leach field, grape vine, proff: Dear Valerie, Thank you for your question. Are the terms of your contract cash? If there are no contingencies in the contract and the closing date passes you may keep the deposit. Ask your lawyer to set a closing date and if the buyer is unable,...

Buying or Selling a Home: Can a buyer get out of purchase agreement, legal loopholes, legal ramifications
legal loopholes, legal ramifications, jessica bryan: Dear Tracy; This is actually not a real estate question since it involves a legal issue associated with contract law. I can advise you that there are certain contingencies built into an agreement to purchase but only an attorney can advise you if your son...

Buying or Selling a Home: buyer wants to back out of sale, denial letter, mortgage agreement
denial letter, mortgage agreement, new neighbor: Did anyone contact her Mortgage Company to find out why she was denied? Were you presented anything from the Mortgage Company? You have the right to know what prevented her from getting a mortgage. I m not sure where you are located but in the PA contracts...

Buying or Selling a Home: I have a buyer now what?, matt dick, aol
matt dick, aol, title company: I would need to know in what state the property is located. You can also go to a title company or escrow company and ask them what paperwork you need to sell the property by yourself. You might be well advised to offer to pay a Realtor for his/her services...

Buying or Selling a Home: buyers dragging their feet??, legitimate reason, holdup
legitimate reason, holdup, local real estate: Contact a local Real Estate attorney to see what legal remedies you have in this situation, in your area. However, keep in mind that while you re waiting on these buyers, your house is off the market and you aren t getting showings by qualified buyers. So...

Buying or Selling a Home: buyers home inspection, luck john, john hall
luck john, john hall, home inspector: Dennis: I do not know what is standard in your state, but here in California, a home inspector is used on 90% of the home sales. The inspector just helps the buyers to be sure the home is in good condition. The only thing to worry about is if they...

Buying or Selling a Home: buyers remorse, buyers remorse, second thoughts
buyers remorse, second thoughts, contingency: Check your contract over very carefully and see if there is a clause that gives you the right to cancel the transaction. Since you have the loan ready to go, then obviously it can t be that contingency. I would have to know why you have second thoughts....

Buying or Selling a Home: buying, work partime, ahouse
work partime, ahouse, exact steps: first of all if you reported the identity theft you can get that incorrect information removed. your fiancee could purchase the house in his name if his credit is ok, and you could be on title. you need to call a local mortgage broker and they can tell...

Buying or Selling a Home: buying, jessica bryan, mortgage co
jessica bryan, mortgage co, cable bill: Dear Aaron; First go to your local banker (either someone recommended to you, your credit union if you are a member of one, or the bank in which you have your own accounts.) Ask about qualifying for a loan. Discuss terms and what you can afford in a home...

Buying or Selling a Home: buying, mounths, land contract
mounths, land contract, mounth: Are you sure you purchased it as a land contract and not a lease purchase? If you purchased the property under a land contract then you actually already bought the house and the payments you are making are towards your loan. I would suggest that you contact...

Buying or Selling a Home: buying, lee mundy, paint job
lee mundy, paint job, new paint: Michael, If it has been a year and in the mean time you have built up your credit and have not had any problems you should have no problem. I have a great mortgage lender if you want to talk with him first and see what he can do for you. I know he has loans...

Buying or Selling a Home: buying, island hi, title insurance
island hi, title insurance, binding contract: Hi Kathy- Thanks for the question but you would do best to check with an attorney. I have seen those types of deals but generally the first one had to settle not using the second one s money, although they can be concurrent closings. The second contract...

Buying or Selling a Home: buying in az, long term investment, apartment style
long term investment, apartment style, story condo: Hi Mike, I would be happy to send you some MLS listings. It s a fantastic buyer s market out here right now. We don t have a crystal ball to predict the future, but historically, real estate has always been a good long-term investment. The best way to buy...

Buying or Selling a Home: buying bank owned residence, real estate lawyer, right of redemption
real estate lawyer, right of redemption, real estate investment: Many people look at REO properties (bank, investor owned properties and foreclosures) as the Holy Grail of Real Estate investment. They expect to find a house that they can buy below fair market value. This belief has caused competition for these properties...

Buying or Selling a Home: buying a condo, new building construction, capitol view
new building construction, capitol view, floor condo: Why not keep the unit you agreed to buy, that is keep your OPTION to buy it. If it ll be a year before you are able to move in, why not offer it out for sale at a profit? This is a good idea, especially if the condo units are selling well. You can then...

Buying or Selling a Home: buying a condo, new building construction, cost per square foot
new building construction, cost per square foot, followup question: Hi Mary, well again the builder s agrument in court will be that at the time they were marketing the builing for sale, they had no actual knowledge of any pending developement that would restrict the views from their building thus invalidate their present...

Buying or Selling a Home: buying a double wide?, first time homebuyers, mortgage lenders
first time homebuyers, mortgage lenders, double wides: Jennifer, I take it you have not yet looked into financing on the double wide? One thing to note is that usually the interest rate on these is much higher than conventional built homes. They are considered a depreciating asset by most banks, kind of like a...

Buying or Selling a Home: buying out my ex pertner of our house, morgage repayments, brooklyn bridge
morgage repayments, brooklyn bridge, warranty deed: You can buy her out for whatever you feel the value is worth, Anthony. But be aware that the market may be lower than you think it is. I don t know where you are, but that is what is happening to the market these days. Unless you bought the property for a...

Buying or Selling a Home: buying from family, loan example, nest egg
loan example, nest egg, david garcia: Jim, I would recommend you sell the home for $199,000 but offer some owner financing. This means being willing to hold or carry on the side a percentage of the sales price. This makes it much easier for a buyer to qualify for a loan. Example: Sell...

Buying or Selling a Home: how to; buying my first home, time home buyers, first time home buyers
time home buyers, first time home buyers, rich person: Hi tara, its very cool your thinking about owning a home at your age. First of all you need to find an area in canada and investigate it. Make sure of the prices - then narrow where you would like to live down to a few blocks and take your time and search...

Buying or Selling a Home: how to; buying my first home, rich person, downpayment
rich person, downpayment, delayed response: Hi Tara, My apologies for the delayed response. Congratulations on the effort to considering buying your own home. To answer your question, you have several options, but i all depends on your credit score. The normal credit score needed to get a somewhat...

Buying or Selling a Home: buying a fixer upper, fha streamline loan, flood insurance
fha streamline loan, flood insurance, flood damage: Water can do more damage to a house than anything. Is there mold? Was the current of the water strong enough to shift the foundation? Would the house still be in the path of a flood if it rained again? These questions aren t meant to discourage you, but you...

Buying or Selling a Home: buying and flipping propert/ houses, sub prime market, va loan eligibility
sub prime market, va loan eligibility, mortgage programs: Hi Mark, Your VA loan eligibility can only be used on a personal residence, not on an investment property. VA is meant to be used only for your primary residence. You will need to get regular conventional financing on your investment property. Keep...

Buying or Selling a Home: buying a foreclosed property, buying a foreclosed property, chase manhattan
buying a foreclosed property, chase manhattan, multiple listing service: Hello Jodie, Don t be surprised that the lender took the home at the auction. That is typically the case. Now that Chase has it they will turn and sell it. There are a few different ways that different institutions sell their properties. In chases case,...

Buying or Selling a Home: buying a garage parking spot, real estate transaction, hi mike
real estate transaction, hi mike, homeowners association: Hi Mike, Regarding the purchase of a garage parking spot in your condo building, so long as … 1. The garage parking spot is deeded to the person willing to sell to you, as opposed to being a part of any COMMON area, and 2. There are no restrictions...

Buying or Selling a Home: buying half of twindominium, horizontal property regime, condominium declaration
horizontal property regime, condominium declaration, legal aspect: Hi Stacy, Your question is more of a legal one, and I am not qualified to give you legal advice. I am sure, however, there would be legal issues to address to convert a twindominium back to a duplex. Not knowing all the facts in your situation, I will...

Buying or Selling a Home: buying a home, acreage property, home alot
acreage property, home alot, retirement money: My suggestion would be to take a mortgage for the new property. You could get a construction loan, which would purchase the property and you could also finance all of the work you want done on it.Into one loan, and although the payments would be all interest...

Buying or Selling a Home: buying a home, jessica bryan, staples
jessica bryan, staples, responsibilty: Dear Randy; When an agent takes a listing the agreement usually is written for a certain percentage of the sales price. Let s say, for example that the agent takes the listing at 5% of the sales price. It doesn t matter who buys it and who or how they are...

Buying or Selling a Home: buying a home, mortgage broker, credit score
mortgage broker, credit score, loan company: First you ll have to get ready to do some interviewing. You need to find a Realtor that will work through this with you. Not the top agent , not the busiest , but not the newest either. You need to find a regular loan company and see if they can...

Buying or Selling a Home: buying a home, mortgage underwriters, lease to own home
mortgage underwriters, lease to own home, jessica bryan: Dear Idamedina; With a bad credit report and rating you have little hope to secure a loan (at least not a conventional loan with reasonable interest rates.) The best advice I can give you is for you to go to a lender and discuss how you can fix your credit...

Buying or Selling a Home: buying a home, car loan payment, hey linda
car loan payment, hey linda, buying a house with no down payment: Hey, Linda. Buying a house with no down payment is not like it was a few years ago. It will be more difficult but there s still a lot of money out there for people with excellent credit who are buying within their means. Check your credit score, and if...

Buying or Selling a Home: buying a home, chimney safety institute, crawling insects
chimney safety institute, crawling insects, chimney sweep: Hey, Esther. A 1959 home with a fireplace is good if you want a fireplace, bad if you don t want a fireplaces, so the pros are wanting a fireplace, and the cons are not wanting a fireplace. As with anything in our homes, there is regular homeowner monitoring...

Buying or Selling a Home: buying a home, dads name, time linda
dads name, time linda, dear linda: Dear LindA: Your sister may or may not b e entitled to any part of the home. She should spend some money and consult a real estate attorney at once. The house may not be something she can claim if it turns out to be sole and separate property of the husband....

Buying or Selling a Home: buying a home, asheville nc, mortgage lender
asheville nc, mortgage lender, tomarrow: Hi Cheryl! I would say there are no disadvantages to paying cash for a home. I assume you are thinking about paying cash for your new home. With paying cash, you can have a better bargaining tool. Since the deal will close sometimes quicker, the sellers might...

Buying or Selling a Home: buying a home, fience, first time buyers
fience, first time buyers, insurance survey: Dear Heather; The first thing you should do is make sure that you have a good professional to represent you and help you through the process. An agent who is experienced and specializes in first-time buyers is preferable when interviewing brokers. This...

Buying or Selling a Home: buying a home, small claims courts, earnest money
small claims courts, earnest money, semi custom: You have more of a legal problem here than you do a real estate problem. Therefore, you should consult with a local real estate attorney to see if there is a way out. Otherwise, get a floor plan and an artist s concept of what the house will look like and...

Buying or Selling a Home: buying a home, letter of commitment, mortgage broker
letter of commitment, mortgage broker, real estate agent: Don t think there s anything underhanded going on here, John. The real estate agent is plain old incompetent! He should have known all about that property before he told you about it. No use suing. You haven t lost any money yet. The judge will only award...

Buying or Selling a Home: buying a home, adjustable rate mortgage, medical bill
adjustable rate mortgage, medical bill, secured credit card: well first of all there are some lenders who will do loans with your score, it is the midscore that they look at. if you are looking for 100% financing then you need a 550 midscore. anything less you will have to have some money down. and with low scores...

Buying or Selling a Home: buying a home, closing cost estimate, real estate lawyer
closing cost estimate, real estate lawyer, mortgage fees: Hi Laura, Thank you for your question. Your cousin could be bale to help you and perhaps save you some money too. Most of the closing costs are associated with bank mortgage fees, title insurance and prepaid taxes and home insurance. These fees could...

Buying or Selling a Home: buying a home in Canada as a non-resident, craig proctor, hometown ontario
craig proctor, hometown ontario, buying a home in canada: There s a very knowledgeable Canadian real estate agent who operates in Toronto, actually a suburb of it. He is a very busy person, so I hope he can help you. His name is Craig Proctor at www.craigproctor.com or call him at 905-830-9111. You may use...

Buying or Selling a Home: buying home with daughter, retirement home, investing money
retirement home, investing money, teen issues: I think it is very nice of you to assist your daughter with her home purchase. It seems like they will get approximately 50,000 from the sale of their house and if they put it down towards the new home they will have 80% financing to deal with. If you...

Buying or Selling a Home: buying a home in a development, phase development, buying a new home
phase development, buying a new home, begining: Usually the earlier you buy the more upside you make. Developers by nature price more agressively early on and than raise prices with each new release... Buy early and you get the upside while they are being built. Usually always true! Best wishes and...

Buying or Selling a Home: buying a home disaster, real estate contracts, valid contract
real estate contracts, valid contract, specific performance: If you have a fully executed sales agreement (meaning signed and dated by all parties), you may be able to sue the owner for specific performance as per the contract. However, if he has NOT signed and returned the completed contract, you probably do not have...

Buying or Selling a Home: buying a home before divorce is final, active duty, loan application
active duty, loan application, buying a home: The VA loan is to be used exclusively by the vet, except if he cannot qualify for the loan without his wife. If there is no wife, then he is going to have to wait until he can qualify for a loan on his own, most likely, at this point, a less expensive house....

Buying or Selling a Home: buying home from family member, first time buyers, accurate estimates
first time buyers, accurate estimates, deed transfer: AJ, Everything is negotiable in real estate. The buyer would normally be responsible for inspections, costs associated with getting a loan like an appraisal, etc. In my area, the seller pays for preparation of the deed and deed transfer tax, but you can...

Buying or Selling a Home: buying a home in foreclosure, foreclosure property, courthouse steps
foreclosure property, courthouse steps, loan approvals: Dear Travis; Thank you for your question. Buying a foreclosure property is not as easy as it may sound. Depending if you are working with the seller to buy their home prior to the foreclosure or if you are going to buy the home on the courthouse steps...

Buying or Selling a Home: buying a home or land, jessica bryan, sales statistics
jessica bryan, sales statistics, home realty: Dear Robin; There are several Internet resources that can help you with this. You can do a search of homes in Washington and then put in the lowest to highest price search. You will find everything posted there. One of the best sites (all-inclusive) is...

Buying or Selling a Home: buying a home on a landcontract, landcontract, land contract
landcontract, land contract, aol: It all depends on how good a negotiator you are, Tim. One thing you should know about is that a land contract does not give you title to the property until some future date when you come up with the money you agreed in the land contract. In the meantime, the...

Buying or Selling a Home: buying home from in laws, northampton county, real estate transaction
northampton county, real estate transaction, mortgage payments: The will need to sell it to you to get the deed in your name..The lowest I have seen is $1.00 for the sale price, You will go through a title company..it is just like a regular real estate transaction but they are selling the house by themselves ( for sale...

Buying or Selling a Home: buying a home in Olympia wash, menu line, home providers
menu line, home providers, bob white: Here s the best advice I can offer, as you are in WA and I am in GA. Go to the U.S. Green Building Council website(www.usgbc.org). Click on “LEED” in the menu line near the top of the page. LEED stands for The Leadership in Energy and Environmental...

Buying or Selling a Home: buying home from relative, asset records, taxable gain
asset records, taxable gain, state of indiana: If you re concerned with SSI taking her assets, be aware that they will check all asset records going back for six months and will take those assets to help pay for her keep in a nursing home. I strongly suggest you consult with an ESTATE attorney who is familiar...

Buying or Selling a Home: buying a home from my siblings?, comparitive market analysis, nest egg
comparitive market analysis, nest egg, question option: Hello Jim, thank you for a great question. Option one, you place it on the market for sale to the general public. You have differing opinions as to price so question one is, what is the right price? I would have to review the comparitive market analysis...

Buying or Selling a Home: buying before home is sold, christmas time, s market
christmas time, s market, downpayment: If you have the funds to buy another house while you re trying to sell the one you have, then go ahead and do that, because as a buyer you are in the catbird s seat while negotiating. But if you can t afford two house payments, then you should wait until you...

Buying or Selling a Home: buying home - trailer across street, home with a view, empty lot
home with a view, empty lot, wind storm: Hello Kate and thank you for your question. Well girl, you have a real problem I am sorry to say. Yes, a good REALTOR should look outside the box for information on what is going on adjacent to where you are thinking of buying a house. Yes, a good...

Buying or Selling a Home: buying a home, carlton sheets, silly question
carlton sheets, silly question, robert allen: Mary; I can teach u on the internet how to do anything u want in REAL ESTATE and I will charge you nothing and send u no tapes. I WILL send u to the library. U must be willing to read a lot; 5 books, likely. what is your age and education and occupation?...

Buying or Selling a Home: buying a house, chapel hill nc, quiet neighborhood
chapel hill nc, quiet neighborhood, cul de sac: Hi Jay; House values are very affected by noise, traffic and pollution in areas where there is more emphasis on planned communities, nature, parks, etc. If you live in an area where it is very urban and less rural then values are less affected by freeway...

Buying or Selling a Home: buying a house, buying a house, york city area
buying a house, york city area, buyer broker: Hi Allen, Thank you for your question. For local pricing and customs you need to contact a reputable buyer broker in your area. A builder may make a price list of any kind. Perhaps a list price of $399,000 plus 7% builder fee sounds better as a...

Buying or Selling a Home: buying a house, first time buyer, day care center
first time buyer, day care center, time home buyer: Kathy, Thank you for contacting allexperts.com It would be very preferential for you to secure a letter from a lending institution showing that you are Pre Approved (not the same thing as PREQUALIFIED), for a loan. This gives you considerable more bargaining...

Buying or Selling a Home: buying house, sellers disclosure statement, monthes
sellers disclosure statement, monthes, aol: It all depends on what their purchase agreement said. Most states require a sellers disclosure statement in which the condition of the house is disclosed by the seller. If your friends had one and the seller said that there was no problem with the basement,...

Buying or Selling a Home: buying a house, bank foreclosure properties, fuse box
bank foreclosure properties, fuse box, drain field: Hi Jodie, Usually bank foreclosure properties are sold as is. Now if they showed you disclosure papers which omitted these other problems, then you may have some recourse to cancel the deal or request they repair it. You must check what you sighed on your...

Buying or Selling a Home: buying a house, home loan lenders, sub prime lenders
home loan lenders, sub prime lenders, stay at home mom: Hello Monica and thank you for your question. Because of the high number of forclosures now taking place and the change in the real estae market, lenders are more strict in their qualifying people for a home loan. Lenders pull credit scores from three...

Buying or Selling a Home: Not buying a house..., jessica bryan, constant touch
jessica bryan, constant touch, number crunching: Dear Tabitha; I sense that you feel uncomfortable with taking up too much of her time. You need to explain it to her just like you just did to me. A nice way to tell her is to send her a thank you note (with your explanation) and some flowers. Tell her...

Buying or Selling a Home: buying a house that is in foreclosure, buying a foreclosed property, insurance premiums
buying a foreclosed property, insurance premiums, due diligence: Hey, Cheryl. You would be able to buy the house at a tax sale, but, contrary to the late night infomercials, doing so is rare. A tax sale occurs when the tax assessor takes the property and sells it for unpaid taxes. However, when a tax sale does occur,...

Buying or Selling a Home: buying a house in foreclosure, buying a house in foreclosure, buying a house
buying a house in foreclosure, buying a house, hard time: I m glad to be able to help. In answer to your question, maybe. But the amount to bring it current subtracted from the total, may not include additional interest and any other fees they may actually request when submitting for final payoff. He will need...

Buying or Selling a Home: buying a house in full, assessment website, staples
assessment website, staples, transfer taxes: Generally speaking the assessment amount is lower than what the property will sell for, even in a slower market. 1. Find out if he ll take your offer 2. You could look get forms someplace like Staples, etc. 3. You need to get everything recorded. ...

Buying or Selling a Home: buying a house with a lien on it, knowledgeable realtor, albany ny area
knowledgeable realtor, albany ny area, mr dennis: Well, Katie, the seller MUST have the funds to pay off any and all liens on the property s title or there is no sale, to put it in a few words. The funds the seller must have can be derived from you as the buyer or anyone else who is willing to lend him...

Buying or Selling a Home: buying a house sight unseen, queens ny, buying a house
queens ny, buying a house, best of luck: Hi Regina, Thanks for the question. I wouldn t recommend buying a house without seeing it first. Not only would it be difficult to make your choice by looking at pictures only, I have found that may times the pictures can make a house either look not as...

Buying or Selling a Home: buying house from sister, income to debt ratio, dictionary definition
income to debt ratio, dictionary definition, new mortgage: Hi Anne-- Probably the only way for you to become the legal owner of the Home is for you to purchase it from your Sister! It is unlikely that the Lender who now owns the Mortgage will relieve her of her responsibility for the loan & make you liable...

Buying or Selling a Home: buying a house soon, real estate agencies, comparable sales
real estate agencies, comparable sales, buying a house: Several things. Get a home inspection. Look around the popular real estate agencies first before you want to see a house and ask for a buyer s agent or buyer s representation. It doesn t cost you anything and the agent will represent you instead of the...

Buying or Selling a Home: buying a house with tenants in it, economical purchase, legal expert
economical purchase, legal expert, s market: What you should do is NOTHING until those tenants are out. Your contract probably has already been breached, as it should have contained a clause that the tenants would be out a certain amount of days before closing. Signing anything is one thing, doing...

Buying or Selling a Home: buying a house, earnest money deposit, jessica bryan
earnest money deposit, jessica bryan, terie: Dear Terie; To answer this question I would have to see the exact wording in the contract. Most contracts state that inspections and appraisals are done at the Buyer s expense and don t have any mention of the Buyer getting their money back in the event...

Buying or Selling a Home: buying from an idivual, unwelcome surprise, pest inspection
unwelcome surprise, pest inspection, comparative shopping: Dear Gaye; Buying a home from your brother still involves some legal documents. Since you are getting a loan the lender will require an appraisal. You should still also have the home inspected just to know how much fixing and maintenance is involved. The...

Buying or Selling a Home: buying investment properties, david garcia, investing in real estate
david garcia, investing in real estate, fair deal: Dennis, Before investing in Real Estate, I recommend that you get educated first. You can go to many boards online & read about Real Estate investing. You can visit: www.ezreinvesting.com & read a little there. I highly recommend that service. If...

Buying or Selling a Home: buying investment property/second home, buying investment property, foreclosure property
buying investment property, foreclosure property, snowbird: Hello Jean, I would start by figuring out where you want to live first. There are foreclosures everywhere so you will have to research locations first. There is no point buying somethng unless you want to live there. After you have found an area you will...

Buying or Selling a Home: buying land, southwest denver, todd thornton
southwest denver, todd thornton, exact area: Andrea, You d want to know the restrictions on the use of the land as well as current zoning and suggested/planned changes to the zoning in the immediate area. What types of homes can be built? (Size, material, square footage, etc). What city services are...

Buying or Selling a Home: buying a mobile home, buyer need, smart girl
buyer need, smart girl, safety issues: Hi Krissa, Smart girl...you need to first get a home inspection. Here in Cal. you can get one for about $ 175-250. This is $$ well spent, as this person will climb on the roof, underneath...look for health and safety issues. You will only be assured of...

Buying or Selling a Home: buying a mobile home, previous sales, usaully
previous sales, usaully, title registration: Hi Mary...it s going to be hard to find a value, unless you can ask management of the park for some previous sales of a similar yr. and size. Usaully bidding is secret, so don t know how you got the 22k figure. The person in jail will have to be the one...

Buying or Selling a Home: buying mobilehome found black mold, certified thermographer, infrared thermal imaging
certified thermographer, infrared thermal imaging, john mckenna: I have no idea what your contract says, when you agreed to it, or what happened since it was made. You need to contact a qualified attorney if you have a dispute about the contract. Regarding mold... IF you find harmful mold in levels that are deemed...

Buying or Selling a Home: buying a multifamily residence., doug ingram, condo conversion
doug ingram, condo conversion, condo units: Thanks Hannah for your question and congratulations on the potential purchase of a new residence in New York. To answer your first question, yes you can purchase a home with five percent down. However, you would need to consult with a mortgage broker to...

Buying or Selling a Home: buying a new home., midland texas, midland tx
midland texas, midland tx, buying a new home: Hi Naomi, You would have to provide more information to me for me to answer your question. Where do you currently live? Do you own or rent? If you are concerned about the price of homes in Midland Texas, try going online and search for a realtor in...

Buying or Selling a Home: buying a new home before selling existing property, real estate broker, excellent marketing
real estate broker, excellent marketing, brya: Dear Tara, I would have said that your fiance should make an offer that is contingent upon selling his existing home but since he already presented an offer (and assuming it has been accepted) he can t do much now except to get his existing home sold as soon...

Buying or Selling a Home: buying new home, mortgage broker, first house
mortgage broker, first house, credit scores: There s no way for me to know the answer to that, Tyson. I do not know the price of house you want to buy, I do not know your income and obligations. I suggest you contact a bank, or mortgage broker and ask your questions. If you both have excellent credit...

Buying or Selling a Home: buying new or used house, phoenix chandler, 240k
phoenix chandler, 240k, tolleson: I m not really sure what you are referring to as I m not familiar with Arizona, but you should be able to get any mortgage which is available to you for buying the house. Other than that (a mortgage) what requirements in buying a house are you referring...

Buying or Selling a Home: buying from owner, buying a house, escrow
buying a house, escrow, possession: I m a little confused. You re buying a house from the owner, correct? How did you get possession of the property? Were you also leasing from him? Why do you have to move? If you purchased the home from him and went through escrow, his loan would have...

Buying or Selling a Home: buying from owner, special loans, time home buyer
special loans, time home buyer, first time home buyer: David, This was delivered to my spam folder and I just found it!! All these questions that you ask are the precise reason why you need to work with an agent. It doesn t cost you anything. If you do not, how do you know what the price of the home should be...

Buying or Selling a Home: buying parents home to settle estate, question pool, luck john
question pool, luck john, family feud: Hi, I found your question in the question pool. The first thing I would caution is the possible family feud that could arise. The best thing to do to make this work good is have a real estate attorney write up a contract. Everyone agree a on payment....

Buying or Selling a Home: buying down points, stated loan, payment money
stated loan, payment money, rule of thumb: Hi Wayne, It s comes down to simple math. If the amount of interest that you will save on the loan will be greater then the money it costs to buy the loan down, then it s a good idea to do it. The variable that makes the difference is how long you own the...

Buying or Selling a Home: buying a preforeclosure House, property profile, market appraisal
property profile, market appraisal, county recorder: Hi Linda - I m sorry to hear about your friend s trouble. He s not the only one having this problem. Who told you that you couldn t buy it? Anyone who isn t a relative could make an offer to the bank to purchase the house. What the bank would be willing...

Buying or Selling a Home: buying preforeclosures, manna from heaven, foreclosure auction
manna from heaven, foreclosure auction, good personality: You have to keep your eyes on the publications, Justin (newspapers, etc.) that publish the first notice of default as directed by the respective states. Each state has different rules and regulations for foreclosures, so you have to become very knowledgeable...

Buying or Selling a Home: buying us property, modulars, vin number
modulars, vin number, owner financing: Mandy, in order to answer this question, is this modular attached to the land and is it considered real estate? Many modulars are not. If this is considered real estate, as a Canadian you will need to put down at least 30% and obtain a loan as a foreign national....

Buying or Selling a Home: buying property in florida, buying property in florida, finance deals
buying property in florida, finance deals, american citizens: Hi David thank you for your questions. To answer all of your questions requires a different forum than this, we need to talk so I can try to help you. To start I would need to know what area in Florida? like (County, City etc.), I would need to know what...

Buying or Selling a Home: buying "AS IS" property, sink holes, time home buyers
sink holes, time home buyers, first time home buyers: Hi C.J. - You sound like you are on the right track! The only thing I suggest you be aware of is exactly what you mentioned. You are purchasing the home as-is . The bank will make no warranties about the condition, location, etc. Make sure you do all of...

Buying or Selling a Home: buying RE in canada, john hall, thanks john
john hall, thanks john, realtor: Mike: I am not familar with Canadian Real Estate law, however, in the United States, and most other areas, you do not need to be a citizen to own property. Some countries, like Mexico, have restrictions, you would need to contact a Realtor in Canada. ...

Buying or Selling a Home: buying real estate with not so good credit, income to debt ratio, debt to income ratio
income to debt ratio, debt to income ratio, addion: Dear Paula: I do not have experience with investment purchases, but in my opinion as long as you have a large down payment you should be fine since you are guaranteeing them a good return on investment in case that you default on the loan (they will keep...

Buying or Selling a Home: buying from relative, jessica bryan, claim deed
jessica bryan, claim deed, necessary documents: Dear Janice; Gifting to a relative is a tax issue and your relative should discuss this with her accountant. There are also certain legalities that need to be handled in gifting of property. Since it is only a partial gift and there is actually money that...

Buying or Selling a Home: buying a rental property, tax deferred exchange, first time buyer
tax deferred exchange, first time buyer, rental house: In your second paragraph, you stated, problem is that it is a rental property of the state CA, city Morgon Hill. What do you mean by that? Is there a program by the state of California that says a certain bunch of houses (along with the one you contemplating...

Buying or Selling a Home: buying repo houses, bank owned properties, unfortunate circumstance
bank owned properties, unfortunate circumstance, realtor office: Lori, To buy Bank owned properties is fairly easy. Just ask any realtor office and tell them that you would like to buy foreclosures. You can also go to: hud.gov you can bid on government foreclosed homes there. About your home selling for under...

Buying or Selling a Home: buying second house, home equity mortgage, todd thornton
home equity mortgage, todd thornton, mortgage broker: Kathy, There s no way for me to determine what s best because it would depend on the interest rates for all the loans and the amount of the new purchase and your overall financial situation. The cheapest route in terms of closing costs would be taking out...

Buying or Selling a Home: buying and selling, southern california area, priceless resource
southern california area, priceless resource, glines: Hi Rhondal, Sorry it took some time to answer the question, I ve been under the weather! You don t ALWAYS have to have a down payment but if you are competing with another offer with a down payment, people will usually go for that one. It really depends on...

Buying or Selling a Home: buying selling, jessica bryan, thanks for your patience
jessica bryan, thanks for your patience, thanks for your understanding: Hello; I am finally back online! My computer crashed and I have a huge amount of email to answer. However, if you would still like an answer to your question I will be happy to answer within a few days…trying to get to the earliest ones first. Please understand...

Buying or Selling a Home: buying and selling, tax deferred exchange, housees
tax deferred exchange, housees, real estate brokers: There is nothing wrong with selling your rental house as an investment property NOW, Linda. You merely promote it just as what it is . . . an income property. Plus the buyer has the option of moving into it as a residence if they so choose. Just find a good...

Buying or Selling a Home: buying and selling, question property, bank mortgage
question property, bank mortgage, owner financing: Hi Rhondal, Thank you for your question. Property can be bought in many ways. Conventionally the purchase would be for cash or combination of cash and bank mortgage. Depending on the buyer s qualifications a bank might be willing to lend 100% of...

Buying or Selling a Home: buying and selling, seller financing, downpayment
seller financing, downpayment, money down: it is true. I bought many props that way but it depends on your seller. in some cases, the lender will provide you with 100% financing. in other cases, if you need 100% seller financing--that is available under many conditions [and in many situations...

Buying or Selling a Home: buying and selling, local market conditions, mortgage broker
local market conditions, mortgage broker, local real estate: Ron, Yes, it is possible. There are a number of programs nationally and also by state that allow people, depending on their financial situation to purchase with nothing down. Additionally, you may be able to negotiate a no down deal directly with an owner,...

Buying or Selling a Home: buying and selling, mortgage business, fornos
mortgage business, fornos, mortgage broker: Hi Rhonda, thank you for your question. I m not a mortgage broker but there is loans out there that will loan you 100%, based on your credit history and income. I recomend that you contact someone in your area that has been recomended to you in the mortgage...

Buying or Selling a Home: buying and selling, government loans, best bet
government loans, best bet, money down: There are many no money down loans. Your best bet is to contact a local mortgage broker as they will have access to many of these programs. Make sure they offer government loans. Tell them you want to apply to a no money down loan. Make sure you do not...

Buying or Selling a Home: buying and selling, mortgage broker, downpayment
mortgage broker, downpayment, bernstein: Dear Rhonda, Yes, there are programs available where a buyer can get 100% financing. However, you do need money for the closing costs and you do have to have decent credit. I would suggest that you contact a mortgage broker and you can see if you qualify...

Buying or Selling a Home: buying and selling, workshop tapes, jessica bryan
workshop tapes, jessica bryan, vacancy rates: Dear Rhondal, The no money down method of buying a home is actually quite effective but requires lots of time and hard work. The best method is taught by Carlton Sheets. You can find his seminars and workshop tapes online. Just do a search for Carlton...

Buying or Selling a Home: buying and selling, two realtors, bridge loan
two realtors, bridge loan, buying a condo: YOU COULD ALWAYS OBTAIN A BRIDGE LOAN IF YOU COULD HANDLE THE PAYMENTS UNTIL YOUR HOUSE SOLD. A BRIDGE LOAN IS A LOAN ON BOTH PROPERTIES THE HOUSE AND THE CONDO IN ONE LOAN. ONCE YOU SELL YOUR HOUSE( WHICH IS PROBABLY EASIER TO DO ONCE IT IS EMPTY IT JUST...

Buying or Selling a Home: buying and selling a home, boca raton fl, fraudulent seller
boca raton fl, fraudulent seller, state mortgage: On the sale of your current home you are legally responsible to perform under the contract. What that means is that the buyers only recourse against you is to sue you for specific performance. They can take you to court to enforce the contract and to sell...

Buying or Selling a Home: buying and selling houses flipping houses, flipping houses, google
flipping houses, google, finance charges: Frank, If you find a home that can be purchased & fixed for 65% of After repaired value or below, then you can purchase with no money down. The finance charges can also be financed into the loan. Try yahoo or google & write hard money you should find...

Buying or Selling a Home: buying/selling, constitutional rights, realtor
constitutional rights, realtor, aol: That sounds very improbable. In fact, downright untrue. Your friend is showing her/his ignorance. You can satisfy yourself by simply calling up either a real estate attorney or almost any Realtor and asking if that is true. It really goes against our...

Buying or Selling a Home: buying a town house, jessica bryan, multiple listing service
jessica bryan, multiple listing service, excellent real estate: Dear Josh; VA is a large area. There are some excellent real estate investments in some of the areas and perhaps in others they are not so good. I know that the closer you get to Washington DC the better the investment and townhomes are no exception. My...

Buying or Selling a Home: buying a used mh in a 55 park, fsbo, san luis rey, neighbor lady
san luis rey, neighbor lady, info thanks: Hi Peggy....three very basic, yet important things to consider: 1.Order a home inspection ($150-250, shop it) This will not only tell you if the home needs repair, it may give you a negotation tool if necessary. 2. Go through an escrow company that...

Buying or Selling a Home: buying a wooden home, world war ii, home appliances
world war ii, home appliances, native texan: Ah, a native Texan. I was born and raised in Kingsville and graduated from Texas A&M. I ll get a list for you within 24 hours. Hey, Esther. Well, I have lots of contacts in Texas, but none down in Brownsville. So here s my suggestion: Look...

Buying or Selling a Home: buying?, pre approval letter, century 21 beachside
pre approval letter, century 21 beachside, cacciapaglia: Fabian, I would agree with you about interest rates. You tell me that you have really good credit and that is gold right now. There is a lot of creative financing going on and you should have a pre-approval letter in your hand before you even go looking....

Buying or Selling a Home: buyinh a home, mechanics lein, real estate foreclosure
mechanics lein, real estate foreclosure, lein holder: Dan, The lein holder probably was the mortgage company. Any other lein on the property was most likely a mechanics lein which can not go into a foreclosure, and depending on who bought the home at the Sheriff sale is now who owns the property. But, the person...

Buying or Selling a Home: buyout or force sale, common law marriages, mom and dad
common law marriages, mom and dad, joint tenancy: Verta, It depends on where the home is located and how it is titled. If it titled as tenants in common, your father may be able to sell his 1/2 of the property. If it is titled as joint tenancy with rights of survival, your father may have to seek a sale...

Buying or Selling a Home: CA Real estate legal question, small claims court, time home buyers
small claims court, time home buyers, first time home buyers: Dear Suzie, It is unfortunate that you are having these kinds of problems on your first transaction. I once had a similar experience representing a buyer where the seller did not remove his belongings as promised. There is little your agent can do other...

Buying or Selling a Home: CA real estate contract, huntington beach california, real estate contract
huntington beach california, real estate contract, century 21 beachside: Linda, You can put it on hold until the end of the listing agreement time, or have another agent help you find a buyer, but the listing agent will still get paid on it. It would be your decision on whether or not to get an attorney involved, but remember,...

Buying or Selling a Home: Caceling our Realtor (Selling Agent) Contract, agent contract, showings
agent contract, showings, agrement: First, Prasad, I would say the fact that you had 35-40 showings in three months, to me, means your price is too high! Or the condition of your property is not up to par. Your agent should have had a discussion with you for lowering the price or correcting...

Buying or Selling a Home: Canadian Resident Buying Home in California, escrow companies, property in canada
escrow companies, property in canada, canadian citizen: Dear Mitchell: It depends on how you want to buy. If cash or credit. In either case a house sale requires some paperwork that includes verification that the house is clear of liens and the like. An escrow company hires a title company to verify the title....

Buying or Selling a Home: Canceal a purchase on a mobile home!, mobile home question, dept of motor vehicles
mobile home question, dept of motor vehicles, giving me a hard time: He is bluffing you, Gerrianne. If you choose to walk away from it, you certainly may. But you will lose your $3,000. Don t let him bamboozle you. However, if you want that mobile home then you tell him to put the purchase agreement on paper, including fixing...

Buying or Selling a Home: Cancel a listing agreement, contract states, delisting
contract states, delisting, insurance agency: Dear Anneliese; You should write a letter and send it registered mail to the Managing Broker of the real estate office saying that you would like to withdraw the listing in light of the circumstances you mentioned above. No one can force you to sell the...

Buying or Selling a Home: Cancel Purchase Agreement, contract termination, settlement date
contract termination, settlement date, mijares: Hi Jannelle, Unfortunately, there is no way to terminate your sales contract unless of course you ve provided a provision for such. Typically, as a buyer you have obligations to fulfill to the seller, which includes but are not limited to producing adequate...

Buying or Selling a Home: How to Cancel a Residential Listing Agreement-Exclusive, jessica bryan, residential listing
jessica bryan, residential listing, legal hotline: Dear Rigoberto, I am sorry that you were mislead about the Exclusive Listing Contract. I am curious as to why you think that you were mislead. These contracts are pretty straight forward and since everything is in writing there should be no question about...

Buying or Selling a Home: Canceling Listing Agreement, dear kathy, residential listing
dear kathy, residential listing, five months: Dear Kathy, If your agent is going to honor his word he will just cancel the listing with no cost to you. In the future it is best to always have these agreements in writing. If you are choosing not to sell at this time it is in your agent s best interest...

Buying or Selling a Home: Canceling a listing contract and selling to co-owner by quit claim deed, warranty deed, claim deed
warranty deed, claim deed, septic tank: I suspect you already know the answer, Julie. Your listing no doubt gives you the answer: The Realtor has an exclusive right to sell listing. That means even if one of the owners sells the property, the Realtor is entitled to a commission. However, if the...

Buying or Selling a Home: Canceling our listing contract, h s company, cancellation request
h s company, cancellation request, split fees: I know you really don t care, Leanne, but, yes, H does have something invested, but your satisfaction was with John and not H and his company. So, you advise H that you are taking his sign down and it will stay down. When you renew your listing in two and...

Buying or Selling a Home: Canceling pre-construction contract, construction contract, pre construction
construction contract, pre construction, addendum: Yes, Mike, I would use that addendum as your negotiating point. If the incentives were part of the original contract, and they are wanting to change it, then I would insist on the original lender and the incentives with the original terms or cancel the whole...

Buying or Selling a Home: Cancellation of contract, small claims court, loan papers
small claims court, loan papers, mortgage payment: Ivonne, I can only answer this as it pertains to California. If you signed a removal of all contingencies you may have some of your deposit at risk. If you never signed this you can back out at any time and get your full deposit back. I would recommend...

Buying or Selling a Home: Cancellation of Purchase Agreement, servicemembers civil relief act, civil relief act
servicemembers civil relief act, civil relief act, breach of contract: Hi Andrew, First, my family and I would like to express our gratitude for your faithful duty to our country... Typically, a buyer cannot back out of a purchase agreement unless the sellers would accept liquidated damages for the breach of contract....

Buying or Selling a Home: Cancelled Home Agreement, jessica bryan, bridge loan
jessica bryan, bridge loan, legal responsibilities: Dear Bob; The sales contract should be carefully reviewed. If the sale was subject to loan approval (assuming that the Buyers of your Grandparent s home were getting a loan) then there is nothing that can be done. However, most contracts have dates associated...

Buying or Selling a Home: Cancelling a contract, contingencies
contingencies: Hello H, Thank you for your question. After attorney review and the contract is signed it cannot be cancelled without agreement of all parties. There are usually terms and contingencies in the contract that need to be met in order for the contract...

Buying or Selling a Home: Cancelling a contract, mortgage company, wasting time
mortgage company, wasting time, lorena: You have several opportunities during the process to cancell a contract. You can always do so but it depends on the contract if you have the opportunity to do it without loosing your deposit. For instance, you have the time for inspections (as many days as...

Buying or Selling a Home: Cancelling a contract selling a home, hich, closing date
hich, closing date, selling a home: If youi signed any amendments, changes and extensions, and as long as the buyers will want to buy the house, Lisa, then you are obligated. I would suggest that you take your transaction to a REAL ESTATE attorney to see if MO has any laws that would permit...

Buying or Selling a Home: Cancelling contract, period change, due diligence
period change, due diligence, frig: If you ll read the listing, Tammy, you will notice that you are obligated to pay the commission if you withdraw the listing at any time during the listing period. Change of mind doesn t count. That s why you definitely should read the listing BEFORE you sign...

Buying or Selling a Home: Cancelling realtor contract, board of realtors, basement bedroom
board of realtors, basement bedroom, department of real estate: You certainly may, but I doubt if it is going to happen. But if you are adament when you tell them that they are to advertise the property as a two-bedroom with an extra room (to be used as an office, den, bedroom, etc.) and change it also in the MLS information,...

Buying or Selling a Home: Capital Gain Tax?, capital gain tax, capital gains tax
capital gain tax, capital gains tax, joint tenants: As long as you held title with your brother for two out of the past five years, then you qualify for skipping having to pay any capital gains tax up to $250,000. If you moved out five years ago, then obviously you have not lived there for the past two years....

Buying or Selling a Home: Capital Gain, adjustment letter, capital gains tax
adjustment letter, capital gains tax, mortgage fraud: If you didn t live at the Property, you re going to have to pay capital gains tax on your profit. There are legal ways to reduce the amount considered profit, contact your accountant. As far as altering the price, be careful. If your buyer is trying to...

Buying or Selling a Home: Capital Gains - Joint Tenants, joint tenants, tax expert
joint tenants, tax expert, brandie: If you have been on title only 1 year, then you are not qualified to take advantage of IRC 121 that allows you to take up to a $500,000 gain forgiveness. The rule actually says you must have lived in the residence as your prime home for 24 months prior to...

Buying or Selling a Home: Capital Gains on Owner-Occupied Two Family House, expert tax, tax expert
expert tax, tax expert, tax attorney: It applies to single-family homes and if a two-family property is involved, it would apply to half of it. However, to make sure you are doing it correctly, please consult with a tax expert (tax attorney, CPA, etc.) I wish you well, Cheryl. Dick Dennis...

Buying or Selling a Home: Capital Gains on sale of principal residence, capital gains tax exemption, 1031 exchance
capital gains tax exemption, 1031 exchance, capital gains tax: Dear Mr. Matiszik: The capital gains tax exemption applies for the sale of a primary residence where you have owned the residence for the prior 2 years, AND you must have lived in the residence for 2 of the past 5 years. Thus, you would not qualify for...

Buying or Selling a Home: Capital Gains Tax - Investment Property, capital loss carryovers, foreclosure sales
capital loss carryovers, foreclosure sales, capital gains tax: Hello Randi- 1) Everyone s tax situation is different, and therefore I can t answer your tax gains question. It depends on A) did you make a profit b) Were you married when you bought it, is it under both your names, c) Did you ever live there, how long,...

Buying or Selling a Home: Capital Gains Tax, capital gains exclusion, capital gains tax
capital gains exclusion, capital gains tax, odd ball: Ricky: Did you transfer the deed/title to your name in 2003, or in 2000? In either case, your basis will be calculated based on how you received your share of the house. In either case, it sounds as though you are eligible for the $250,000 capital gains...

Buying or Selling a Home: Capital gain, capital gains tax rate, irs publication
capital gains tax rate, irs publication, capital gains tax: Karen, I m not an accountant and all tax questions depend on individual situations, but I ve provided a link to the IRS publication detailing changes in the capital gains tax rate. Basically, the rates have dropped to either 15% or 5% depending on your...

Buying or Selling a Home: Capital gains on a quit claim, stepfather, tax liability
stepfather, tax liability, capital gains: Perhaps quit claiming it wasn t the best thing. If the property was still in your stepfather s name, I don t believe you would have to pay any taxes. As it is now they may look at it as an investment property. I d talk to a real estate attorney and see what...

Buying or Selling a Home: Capital gains?, taxpayer relief act, doug ingram
taxpayer relief act, doug ingram, taxpayer relief act of 1997: Great question Karen. Thanks for sending this over. Before making any major decisions I always advise my clients to consult with a trained accountant. That being said, the IRS in the Taxpayer Relief Act of 1997 passed a range of legislation that dramatically...

Buying or Selling a Home: Capitol Gains Tax, capitol gains tax, doug ingram
capitol gains tax, doug ingram, sheriffs auction: Thanks Rob. On the 1st question if you bought a second investment home you would have to pay capital gains taxes on the sale. Right now the IRS has a provision for your personal residence. This provision states that if you occupy the property for 2 years...

Buying or Selling a Home: Capitol Gains, financial bind, capital gains tax
financial bind, capital gains tax, capitol gains: Sheri, Thanks for your questions and sorry for not responding. There was a glitch in the system. Since this is your primary residence you will not have to pay capital gains tax on the sale of this property. Good luck with the sale of the home! Best...

Buying or Selling a Home: Carrying a contract, jessica bryan, pro and cons
jessica bryan, pro and cons, interested party: Dear Jared; I don t know what you mean by his offer being at least 10 own with monthly payments of at least 3. As for carrying the contract; I think that the interested party meant to ask if you would carry the loan (being an owner financed arrangement.)...

Buying or Selling a Home: Cash outside of closing, escrow, jeopardy
escrow, jeopardy, bernstein: Dear Ron, It may not be illegal but it may not be acceptable to your lender. The real question is why is it being paid outside of escrow and not as a credit through escrow? If it is because the lender won t allow it you would in essence putting your...

Buying or Selling a Home: Cash outside of closing, douglas ingram, mortgage fraud
douglas ingram, mortgage fraud, mortgage company: Ron, Thanks for the email. Apologies for not being able to respond immediately. I am not a lawyer, however, I can say that this practice is illegal. The reason being is that a mortgage company/ banking entity is financing your acquisition of the property...

Buying or Selling a Home: Cash Purchase, mortgage cash, estate settlements
mortgage cash, estate settlements, spam folder: Jeff, This got sent to my spam folder and I just found it!! Sorry!! You definitely need an attorney to close this deal for your own protection. Law is not my expertise and there are lots of papers to sign, and I can t tell you what all of them are. Be sure...

Buying or Selling a Home: CHFA issues, chfa loan, fha loans
chfa loan, fha loans, housing finance authority: Preston, I can t give legal advice, but whether the seller could put the house back on the market would depend on the wording/extensions of your original contract. A local attorney should be able to help you with wording that can protect you. As far...

Buying or Selling a Home: CHFA Loan (Connecticut FHA Loan), chfa loan, real estate fortunes
chfa loan, real estate fortunes, fha loan: Hi, Alan. Sorry to take so long to answer, but I actually went on my first vacation in over a year the past two weeks! :) Anyway, in order to rent out this unit, you will need to refinance the loan. If you don t refinance and if FHA finds out that...

Buying or Selling a Home: Chain of title, town historian, sales dates
town historian, sales dates, st louis mo: Keri--Thanks for the question-- I ll give you some hints/tips that may help you determine the history of a property. First off, in many areas, the local Assessor s Office has a Website that allows the general public to review the information they have on...

Buying or Selling a Home: Change realtors, port charlotte florida, change realtors
port charlotte florida, change realtors, bedroom pool: All of the marketing tools you refer to are basically designed to obtain clients for Realtors, not to sell houses. More than 90% of sales come either from yard signs or the MLS.My best suggestion to you is to have Home Depot or some such store give you a firm...

Buying or Selling a Home: Change realtors?, port charlotte florida, change realtors
port charlotte florida, change realtors, bedroom pool: You can easily find a realtor who will advertise your property in the paper and other magazines and hold open houses every weekend if you so desire. Your realtors who joined realtor.com to get you more exposure will benefit from that subscription for any...

Buying or Selling a Home: Change realtors?, port charlotte florida, change realtors
port charlotte florida, change realtors, bedroom pool: Billye Jo, Let me start off by explaining some misconceptions about Realtors and open houses. I use the term Realtor as opposed to Real Estate Agent because they are two completely different terms. A Realtor is a registered tradename for a member...

Buying or Selling a Home: Change realtors?, port charlotte florida, change realtors
port charlotte florida, change realtors, bedroom pool: Hello again! You are very welcome! Assist 2 Sell is a discount real estate company, usually offering a flat fee in order to sell your home. However, with any company or agent, be that a discount or a full-service, I would strongly advise you to have a...

Buying or Selling a Home: Change realtors?, port charlotte florida, change realtors
port charlotte florida, change realtors, bedroom pool: Dear Billye Jo; It seems like your REALTORS are not doing that much for you. If I were you I would begin interviewing other agents to see what they are willing to do. It is like getting a second or even third opinion. Since your contract is open-ended as...

Buying or Selling a Home: Changing buyer's agent (no contract), precise question, bernstein
precise question, bernstein, good luck: Hi Diana, Get a new agent. You definitely need representation but not bad representation. You should not have any obligation to this agent as you have not yet written the offer. I would just let this agent know that you are not happy with her representation...

Buying or Selling a Home: Changing Title, corporate veil, right of survivorship
corporate veil, right of survivorship, plumbing company: Zarana, Your follow up question is more of a legal question, and you should consult with a good attorney in your area for the answer you need. There ARE ways to pierce a corporate veil, and a good attorney can give you the answers you are looking for....

Buying or Selling a Home: How Can I Check?, realtor buyer, local realtors
realtor buyer, local realtors, sales statistics: HI Eric, Thanks for your new question. Are you looking at property without the aid of a Realtor/Buyer Agent? They are able to supply you with up to date sales statistics for properties in the area you area contemplating buying. They can show you trends...

Buying or Selling a Home: Choosing A Real Estate Agent To Sell My House, gimic, choosing a real estate agent
gimic, choosing a real estate agent, jacuzi: The problem is most real estate agents who are out there know how to do one thing - take a listing and place it on the mls - and thats the end of it. Unless they have a buyer dont expect to hear from them - No matter who you use you will need to do some of...

Buying or Selling a Home: City Council & Trailer Removal in 9 days, mobile home park, mobile home sales
mobile home park, mobile home sales, home park: This is not my expertise, Reggie. However, I would recommend you contact a mobile home sales company and find out who they use to accomplish what you mention. You probably can start with a mobile home park and work you way up to the company or person you re...

Buying or Selling a Home: AFTER CLOSING PROBLEM, statute of frauds, verbal contracts
statute of frauds, verbal contracts, buying a condo: Hi. First of all, Florida has something called the statute of frauds which basically says that verbal contracts or agreements may not be enforceable. I m only telling you this for future situations. Anything that you want agreed upon in a contact needs...

Buying or Selling a Home: Closing Cost, dear sally, real estate broker
dear sally, real estate broker, currency exchange: Dear Sally, This is my answer #3. My previous (second) answer should provide some useful information too. I just read your follow-up question after I wrote a follow-up answer. This is my answer to your follow-up question. I suggest that you find...

Buying or Selling a Home: Closing Costs, credit score, origination fee
credit score, origination fee, closing cost: Its hard for me to say on the closing costs since they vary by region. The real estate agents should be able to tell you what s normal for the area. If you are not paying points or an origination fee, then $8,000 would seem extremely high to me. I ve included...

Buying or Selling a Home: Closing Date missed, building a home, closing date
building a home, closing date, remedy: It depends what your contract with the builder says. I suggest you talk with a REAL ESTATE attorney to see what remedy there is for you should he miss the closing date. In the future, NEVER buy a house from a builder without having a penalty written into the...

Buying or Selling a Home: Closing date, closing date, purchase agreement
closing date, purchase agreement, realtor: All parties to the agreement must sign any changes. If the buyer will not accept that change of closing, then there is nothing you can do at this time unless you can talk them into it. The Realtor is not a party to the agreement. He/she is merely the agent...

Buying or Selling a Home: Closing date delay, target date, storage costs
target date, storage costs, precarious position: Hi Robert, Thank you for your question. You are in the middle of a common house buying/selling problem. Very rarely will a closing take place on the originally scheduled date. Contracts are typically worded with a closing date described as on or...

Buying or Selling a Home: Closing date of Purchase and sales agreement, plat approval, earnest money
plat approval, earnest money, acre parcel: tHis contract is valid but is not usual. I do not see it as open ended as it has a specific criteria; the accomplishment of a task as the day of closing IF after a certain date. ALMOST always, two rules come into play now; WHAT each party MEANT or...

Buying or Selling a Home: Closing date, purchase agreement, purchase contract
purchase agreement, purchase contract, closing date: Hi Joanne, I need a little bit more information in order to answer your question. On the purchase contract, was it a 30/60/90 day escrow? The answer depends on the number of days you signed and have already agreed to. Usually once you sign a purchase...

Buying or Selling a Home: Closing dates, luck john, purchasing a new home
luck john, purchasing a new home, best bet: Matt: Most escrow/closing periods are 30 to 45 days. If you purchase a home and want to close 4 or 5 months later, I think you will have a very hard time convincing the seller to wait that long. You best bet is to put your home on the market and make...

Buying or Selling a Home: Closing a Home purcahse with Estate taxes not paid., responcibility, escrow account
responcibility, escrow account, legal opinion: Hello Johnathan and thank you for your question. Let me be sure I understand this. Both attorneys agree that the closing can go forward and the transfer of ownership will take place with no further liability on your behalf. For whatever reason, the...

Buying or Selling a Home: Closing procedures, todd thornton, mortgage specialist
todd thornton, mortgage specialist, hud1: Rositsa, The person who handles the closing is responsible for making sure you get copies. I m a little unclear as to why you didn t get copies of what you signed the day before the buyers signed their documents and then comleted copies once the buyers...

Buying or Selling a Home: Closing procedures, carpentry work, loan fraud
carpentry work, loan fraud, several thousand dollars: Dear Marla; The first question dealing with the refund of several thousand dollars is something that needs to be disclosed to the Buyer s lender. This is a tricky situation and while it is often done it is with the full knowledge of the closing attorney and...

Buying or Selling a Home: Closing or Title Company, state government office, real estate closings
state government office, real estate closings, title searches: Hello Amy and thank you for your question, sorry I am late in responding, I am in Mexico right now. You ve asked me something that I cannot be much help since this question is out of my area of expertise. However, my suggestion is to contact your state...

Buying or Selling a Home: Closing, accepting an offer, s market
accepting an offer, s market, wasting your time: I believe in doing it professionally. Go out and interview some Realtors. After two or three interviews, you will become smart on what needs to be done. And DON T use your attorney . . . unless he/she is a REAL ESTATE attorney. There is a difference. You...

Buying or Selling a Home: CO OWNERS, boca raton florida, mortgage contract
boca raton florida, mortgage contract, state mortgage: I am not an officer of the court, but in my opinion your fiance has all the rights that you have as it relates to this property. This includes the selling of the property. You cannot sell this property without her signature. Likewise she cannot sell the...

Buying or Selling a Home: Co-op's, condominium ownership, fuel property
condominium ownership, fuel property, apartment sales: Hi, Thank you for this question. I have not experienced a coop failure or bankruptcy in Westchester. However, there are some coops that banks will not finance apartment sales reason being there are too many unsold units occupied by renters. Like any...

Buying or Selling a Home: Co-signer, state mortgage, president state
state mortgage, president state, cosigner: Co signers only help with qualifying for a mortgage because you are able to use their income and qualify for more house than you could afford on your own. Mortgages are typically underwritten and rates are determined by the borrower with the lowest credit...

Buying or Selling a Home: Comittment Letter, mortgage commitment letter, home answer
mortgage commitment letter, home answer, bank mortgage: Hi Phillip, The seller s attorney is sent the commitment letter by the buyer s attorney to confirm the final commitment of the loan by the bank. By virtue of the attorney viewing it the seller would have access to it. The answer is yes. Han...

Buying or Selling a Home: Commercial Property for Sale, apple orchard, widening the road
apple orchard, widening the road, prime real estate: Hello Janet and thank you for your question. Sadly I am not involved in commercial tranasctions and my advice is going to be limited at best. I presume you are going to try this with out the help of a real estate firm. First, you are going to need...

Buying or Selling a Home: Commercial RE Sale Delay, earnest money agreement, legal consequences
earnest money agreement, legal consequences, prime piece: Dear Judy: It would be a disservice to you (and ethically prohibited) for me to offer since I am not at all familiar with Idaho law. The smallest difference between New York and Idaho law could substantially alter my review of a contract. Good luck,...

Buying or Selling a Home: Commission, gross sale price, contract example
gross sale price, contract example, gross sales: Gross sales price refers to the total sales price of the home before closing costs or concessions. Usually commissions are paid on the gross sales price, unless otherwise negotiated with your agent. Generally speaking that does not happen unless the sales...

Buying or Selling a Home: Commission after agreement expires., interested party, realtor
interested party, realtor, negotiation: Then all bets are off! The new Realtor gets the benefit of any commissions. Any notices by the first Realtor are not valid. Even if the first one obtained an offer (which counts as being on the notice list). So that means if client Adams made an offer...

Buying or Selling a Home: Commission Question, brokerage commission, real estate license
brokerage commission, real estate license, senior housing: Strictly ILLEGAL, Jon. ALL STATES require a real estate license in order to collect a fee for selling property. Architects collect fees for planning a property. Not for selling it for the owner. In this case, the buyer would be paying him his fee for...

Buying or Selling a Home: Commission Question, brokerage commission, real estate brokers
brokerage commission, real estate brokers, real estate brokers license: Hi Jon, Your question is a good one and can be argued for hours. I have been doing that myself since I read it. License law in New York requires a real estate brokers license or associated agent to transact real estate for another individual and be paid...

Buying or Selling a Home: Commission Question, brokerage commission, board of realtors
brokerage commission, board of realtors, allowable deduction: Hello Jon and what an excellent question! I practice in California where it is against the law to give a commission to an unlicensed person. I suggest that you check New York law by calling your state Department of Real Estate and asking them their law....

Buying or Selling a Home: Commission Question, brokerage commission, real estate license
brokerage commission, real estate license, senior housing: Strictly ILLEGAL, Jon. ALL STATES require a real estate license in order to collect a fee for selling property. Architects collect fees for planning a property. Not for selling it for the owner. In this case, the buyer would be paying him his fee for planning...

Buying or Selling a Home: Commission for selling mobile home, due dilligence, realtor fee
due dilligence, realtor fee, real estate advice: Hi Nancy...sorry I can t give real estate advice, but it is real property. Commissions here in California are 6%, and even that is negotiable. Shop around and good luck. ~ M Forgot to say that you should not sign a listing for more than 90 days....because...

Buying or Selling a Home: Commission!, verbal agreements, real estate license
verbal agreements, real estate license, hotmail: Dear Mr. Alambam: You basically made a deal and if not paid you can threaten to sue. It is your friend and he might want to walk out of the deal in some way or might want to pay less (since he is your friend). Anyway, if you have something in writing they...

Buying or Selling a Home: Concern just before closing, escrow account, taking possession
escrow account, taking possession, central air conditioning: Lynne, The exact wording in your purchase contract might come into play so I d advise consulting a local attorney. Most contracts provide for the seller to maintain the property until either possession is given or through the closing. You would generally...

Buying or Selling a Home: Concrete housing, condensation problems, wall cracks
condensation problems, wall cracks, wood destroying insects: Concrete construction has some pros and cons. Please do not buy this property without getting a Professional inspection done first. Here are few things to watch out for (there may be more, but I cannot know without seeing the house): 1- Movement...

Buying or Selling a Home: Condo, kettering ohio, jessica bryan
kettering ohio, jessica bryan, clark howard: Dear Steve; I would first like to question the validity of the radio show host. Is he speaking for the entire real estate community? My suggestion is to call a few real estate agents and particularly those who are familiar with the condos in the area in...

Buying or Selling a Home: Condo assoication problems, storm doors, condo association
storm doors, condo association, work requests: First of all, this seems more of a legal question than a sales questions, but I think I can give you some advice. When you bought your condo, you agreed to follow all of the regulations shown in the condo association regulation book. Every condo has one and...

Buying or Selling a Home: Condo Builder is Breaking our Contract, class action suit, proper answer
class action suit, proper answer, benifit: Hello Cyndi and thank you for your question. Honestly, without being able to review your purchase agreement I really can not give you a proper answer. Usually, builders agreements are written to the benifit of the builder. It s entirely possible that...

Buying or Selling a Home: Condo Buying, home purchase agreements, financial incentives
home purchase agreements, financial incentives, purchase documents: Hello Sandra and thank you for your question. SO many questions.... let s see, regarding your present home and wanting to keep it - what has become common in many new home purchase agreements, in the Financing Section is language to the effect that, agreeing...

Buying or Selling a Home: Condo buy - choosing a lawyer, coldwell banker mortgage, mr weber
coldwell banker mortgage, mr weber, condo development: Hello Tess, Thank you for your question. It would certainly be smoother for them and you to use their lawyer and mortgage broker since they are familiar with the complex and its nuances. However their lawyer and mortage broker represent them, the...

Buying or Selling a Home: Condo Contract Default by Builder/Seller, obtaining materials, extension period
obtaining materials, extension period, necessary materials: Dear Stephen: I cannot pratice law without a license , which means that for legal advice you should contact an attorney. However, maybe I can shed some helpful light on the situation. As you probably know, it is difficult, if not impossible, to forecast...

Buying or Selling a Home: Condo contract dispute with builder, harvard business school, dispute with builder
harvard business school, dispute with builder, contract dispute: Builders in many cases, probably not now, made some buyers sign a document indicating that the property they were buying was not an investment and that prohibited the selling of it within like, one year or that if you did, you could only resell it back to...

Buying or Selling a Home: Condo Disrepair, first rain, rain storm
first rain, rain storm, band aids: Dear Augusto; My suggestion is to go to an attorney to discuss your problem and see what he/she suggests. You are past your warranty period but you may be able to go after the seller if you can prove that they had knowledge of shoddy construction that would...