About Experts Sitemap - Group 8 - Page 3 2014-04-15

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...

Buying or Selling a Home: Condo in FLA, hollywood beach, buying a condo
hollywood beach, buying a condo, fornos: Hi Pam, thank you for your question. As far as there being a coastal area that is less expensive, I don t know there might be, I specialize in South Florida and the Hollywood,Hallandale, Dania Beach is probably the best priced area in South Florida and with...

Buying or Selling a Home: Condo fee assessment - who is liable, masonry work, condo associations
masonry work, condo associations, fee assessment: Hi Deb, Condo associations are a pain. I would put a lien on her property so that before she closes escrow she will have to disclose it to the buyer and she will have to pay it. I think you should have a meeting with the board if you have one and vote...

Buying or Selling a Home: Condo in NY, bedroom units, fun things
bedroom units, fun things, long island: Hi Jade, Thanks for your question. What you buy depends on your situation and preferences. It sounds like you enjoy vacations and fun things so if you don t need the space of the 2 bedroom yet go with one bedroom for now and buy a 2 bedroom when you...

Buying or Selling a Home: Condo question, capital gains tax, positive cash flow
capital gains tax, positive cash flow, luck john: Tim: Your best bet would be to discuss your present circumstances with your accountant or tax person. Whether to sell or rent the proerty involves present and future financial implications. Now, if you choose to rent the property out, you need to...

Buying or Selling a Home: Condo Special Assessments, hoa board, actual paperwork
hoa board, actual paperwork, foley: You can do a lot!!! Get a copy of the actual paperwork that was sent out to the residents. That will include the date and can prove that your seller knew about it. You were also to have received copies of all homeowner association documentation including...

Buying or Selling a Home: Condo, diamond bar california, barstow california
diamond bar california, barstow california, new condos: Hi Jade, I don t know what state you are in but as far as condo prices, no they don t drop in value like a new car. The difference with Condo s and cars is that condo s appreciate and cars depreciate. Condo s go up in value just like homes does. Some...

Buying or Selling a Home: Condominium Closing Day Notice, earnest money deposit, sole remedy
earnest money deposit, sole remedy, condominum: Dear Howard, I am a little confused by the February 1, 2007 date since that is long past. Questions: Did you provide notice that you were prepared to close? Did you attempt to change the closing date? It appears that the scheduled closing date is...

Buying or Selling a Home: Condominiums & Townhouses, townhouse development, acre of land
townhouse development, acre of land, undivided interest: Hello; To answer your question about condominium vs. townhouse differences: You already had part of the answer correct. The difference is in the ownership. In a condo, you own the inside space of the dwelling (just the inside walls) and have an undivided...

Buying or Selling a Home: Condominiums, garden style, lawns
garden style, lawns, condominiums: HI Valerie, Thank you for your question. Garden style condo is a description for usually 2 level buildings with usually common entry halls shared by 2 to 8 units with doors from the common entry hall. The units are surrounded by lawns, gardens, trees...

Buying or Selling a Home: Condos in Dallas area, david garcia, thers
david garcia, thers, dallas area: Dale, Real Estate is a very good investment. However, if you have funds available, you might be in a better position to invest in rehabs. Thers s alot of rehabs in Dallas. You can buy as low as 50-60% of value then sell for full value with owner financing....

Buying or Selling a Home: Consequences if I "walk away" from deposit, acts of god, myrtle beach sc
acts of god, myrtle beach sc, proper answer: Hello Marcia, thank you for your question. First, I would certainly clarify that the proposed delivery date the builder has told you is in fact beyond the one in stated the contract. Then read your contract very carefully for the fine print that may...

Buying or Selling a Home: Conservative Approach to Investing in Phoenix, property management company, phoenix area
property management company, phoenix area, term mortgage: Joy: Having a goal of $4000 per month net by 2025 is a very reachable goal. There are many different avenues for investing, multiple units, single family homes or condominiums. With the price range you mention you would be best to look at single...

Buying or Selling a Home: Considering Defaulting on New construction contract, contract question, new mortgage
contract question, new mortgage, interest charge: Hello again, Ok, so the lender says if you rent your current house again this is not a commitment because it presumes on something happening in the future that you have little or no control over. Unknown Market conditions and assurance that your tenant...

Buying or Selling a Home: Construction Loans to Mortgage, grave illness, unexpected expense
grave illness, unexpected expense, construction loans: What would you do if you saw that you were about to come down with a very grave illness, Wendy? Would you not go to your doctor to fend it off? You are about to get a grave illness with your real estate purchase. A local REAL ESTATE attorney must be on...

Buying or Selling a Home: Contaminated Water, contingency period, sellers responsibility
contingency period, sellers responsibility, filtration system: Dear Dawn: I am sorry you have this problem, but I share your concern because this is a health and safety issue. Not having your contract, I can only hope that you are within your contingency periods. Your contract probably states that you have the...

Buying or Selling a Home: Contingencies, texas inspectors, local realtors
texas inspectors, local realtors, dry rot: By all means hire your own Inspector and here is why: * What if the first Inspector was negligent? * You were not present at the inspection. * It s hard to hold an Inspector responsible if he was not hired by you. * You want an Inspector who works...

Buying or Selling a Home: Contingency Contract, earnest money, buyer representation
earnest money, buyer representation, realtor: Generally speaking, if your contract was subject to the successful closing of your home, then you should receive a full refund of your earnest money since you had a sale fail. I would suggest consulting a real estate attorney concerning this matter. If you...

Buying or Selling a Home: Contingency Offers, asking price, mls listing
asking price, mls listing, contingency: Hi Cindy, Thanks for the question. In California does the contingent offer have an expiration date should the buyer not sell his house by a certain time? A contingency doesn t expire but the seller and buyer may have something in their contract...

Buying or Selling a Home: Contract, binding contract, escrow
binding contract, escrow, legal advice: Hi Charles.... The most important issue in this transaction will be the way the home is titled. I cannot give legal advice, but if the title says OR you may act independently....I would list it. and assume she would have to sign a release, just to be safe....escrow...

Buying or Selling a Home: Contract Cancellation, contract cancellation, usdoj gov
contract cancellation, usdoj gov, voice mail: That is correct: After the expiration or cancellation of the listing the agent is supposed to give you a list of the people who were shown the property. Since they have not cancelled it yet and it has not expired yet, then that remains to be seen whether they...

Buying or Selling a Home: Contract canceled, lawyer, volunteer
lawyer, volunteer: Hi John. Thank you for your question. When you say you signed a contract, I am assuming you made an offer. If the seller has not signed your offer, then they are not accepting your offer. If the seller signed it, then he accepted your offer and it must...

Buying or Selling a Home: Contract Issues, hot sign, counteroffer
hot sign, counteroffer, contract issues: Dear Tiffany: I do not have a copy of your contract, but if it is as stated, then your counteroffer to the seller has expired. On the plus side, if you wish to consider other homes, you are under no obligation to the original seller. On the minus side,...

Buying or Selling a Home: Contract on New construction, home buyer program, first time home buyer program
home buyer program, first time home buyer program, time home buyer: The answer to your question will be determined by what is in writing. If the loan application states that it is only for one person, then you are out of luck. If not, then I would suggest that you very nicely approach both the lender and the builder and state,...

Buying or Selling a Home: Contract property that has been resold 5 times, legal recourse, barbra
legal recourse, barbra, maiden name: This is not going to be simple, Barbra. But you must be patient as it plays itself out. Or, you will have to engage a REAL ESTATE attorney to untangle that mess. First you must insist upon a deed from D. This is probably where an attorney may be in play,...

Buying or Selling a Home: Contract question, contract question, building contractor
contract question, building contractor, contracts: Since I have not read your contract, I can only be general, Will. Keep this in mind: Never, never, never sign a building contractor s contract without having your real estate attorney looking over your shoulder. Their contracts are notorious for being one-sided....

Buying or Selling a Home: Contract question, contract question, binding contract
contract question, binding contract, new contract: Hi Linda, A listing agreement is a legally-binding contract. Short of a breach by the listing company and/or agent, you have no legal right to terminate the agreement. I would suggest approaching your agent and/or his/her broker-in-charge and explain...

Buying or Selling a Home: Contract on Real Estate, real estate lawyer, insurance inspections
real estate lawyer, insurance inspections, getting insurance: Yes! A real estate lawyer. You are going to have to sue for specific performance. I do not understand the sellers excuse that they cannot afford the finance charges set by their bank to get out of the house unless there is an exhorbitant payoff penalty....

Buying or Selling a Home: When is the Contract for Sale violated?, informative response, wrong person
informative response, wrong person, queens ny: Hi Cheryl, Nice to hear from you again. Once your attorney sends the time of the essence letter the buyers should get around to setting up the closing by the deadline date of 9/10. They will just have to choose which mortgage they will close with if...

Buying or Selling a Home: "As Is" Contract, legal recourse, range hood
legal recourse, range hood, real estate agent: The as is contract is the best for both parties in that is does not obligate you (the seller) to the deal if the buyer finds something they do not like, nor does it obligate the buyer to the deal if they find something they do not like. HOWEVER, when...

Buying or Selling a Home: Contracts, land contracts, lender loans
land contracts, lender loans, david garcia: Miguel, I offer live personal 1 on 1 training. I teach my students: 1. No money or credit real estate investing (lease options, land contracts, flipping, consulting & subject 2) 2. Credit repair My offer on my site is for 3 days for $2,400. ...

Buying or Selling a Home: Contracts, personal pronouns, loan number
personal pronouns, loan number, mortgage company: I am sorry, but your question is confusing to me; the personal pronouns are the reason. I gather, hopefully correctly, that your Mother used a mortgage company that was referred by the original owner, and that mortgage company made them a loan. Your Mother...

Buying or Selling a Home: Contracts, douglas ingram, option fee
douglas ingram, option fee, purchase contract: Miguel - apologies for not answering this. It evidently fell through the system and I didn t realize it was still outstanding. The specific language that needs to be included in the contract is to ensure that it is not explicitly prohibited to assign the...

Buying or Selling a Home: Controlling HOA, covenents, selective enforcement
covenents, selective enforcement, exact condition: Hello Stacy and thank you for a great question. Oh boy, the neighborhood Nazis are at it again. Here is what you should do; Dig out your copy of the HOA covenents that you received when you purchased the home. If you do not have one, get a new one as...

Buying or Selling a Home: Cooling off period?, dell web, s real estate
dell web, s real estate, department of real estate: I would start with the department of real estate in each of those states unless you have a real estate attorney friend who can look it up for you, Drew. You might even try this: on your computer search browser put, cooling off period. Or something similar....

Buying or Selling a Home: Cost responsibility for owner title search, local realtor, fornos
local realtor, fornos, title search: Hi Alison, Thank you for your question, in the state of Florida it changes by county, in some counties it is customary for the seller to pay the tittle policy and in others is the buyers, as far as the search is normally the responsibility of the seller,...

Buying or Selling a Home: Counseling and Assistance Agreement, assistance agreement, showings
assistance agreement, showings, three months: Hi Cathy, Yeah, I agree with the agents you have talked to. I would tend to let anyone who wasn t happy with my service out of their contract with me, given that they gave me a fair shot. You might try calling the broker of the HUS office and letting him/her...

Buying or Selling a Home: Counter offer, freeman associates, associates realtors
freeman associates, associates realtors, aol: Maddy, Hello there. Concerning your counter offer, if you have expressed in writing that you have rejected the first offer and that you are making a counter offer, then I believe that it will be fine. If you are unsure, then include an addendum (which will...

Buying or Selling a Home: Counter offer, virginia realtor, judie
virginia realtor, judie, binding contract: The key element here is whether or not the original counter offer was in writing. If it was, you do have a binding contract with both parties signatures on the contract. If it was verbal, I don t think you have any recourse. I would run this question by a...

Buying or Selling a Home: Creating a 1031 Exchange, capital gains tax, owner moves
capital gains tax, owner moves, tax tool: You should contact your accountant about your particular tax bracket. You can use the rent house for a 1031. You must designate up to three properties by the sale date and let them know it is going into a 1031 beforehand and give the name of the company doing...

Buying or Selling a Home: Creating a 1031 Exchange, capital gains tax, owner moves
capital gains tax, owner moves, tax tool: When you sell Real Estate property, the profit is taxable at 39%. this is called capital gains tax. If you live in a property for 2 years, then decide to sell, you DO NOT have to pay capital gains tax. Your are free of taxes up to $250,000 of profit & $500,000...

Buying or Selling a Home: Creating a 1031 Exchange, capital gains tax, owner moves
capital gains tax, owner moves, tax tool: Your first paragraph is confusing as you cannot purchase two homes as primary residences. You can only have one. If one is rented and you told the mortgage company it was going to be a primary residence, you are in violation of the law and subject to repercussions....

Buying or Selling a Home: Creating a 1031 Exchange, capital gains tax, owner moves
capital gains tax, owner moves, tax tool: Hilario: These questions are best answered by your accountant or CPA. The rule on deferring capital gains on a primary residence is that you must have resided in the property for two of the past 5 years in order to avoid the gains. Sincerely, Jay...

Buying or Selling a Home: Creating a 1031 Exchange, dear dirk, capital gains tax
dear dirk, capital gains tax, owner moves: Well this is sort of a long question and 1031 Exchanges are highly sructinized so you need proper help which is a CPA and an Exchange Intermediary. You need to hold the home for 2 years really to do a 1031 Exchange... that is the general rule. So failing...

Buying or Selling a Home: Creating a 1031 Exchange, capital gains tax, owner moves
capital gains tax, owner moves, tax tool: Hilario, Sorry for the delayed response. You really need to consult with a local tax professional since tax law can be extremely complex depending on the situation. Normally speaking, you have to own a rental property for one year in order to qualify...

Buying or Selling a Home: Creating a 1031 Exchange, capital gains tax, owner moves
capital gains tax, owner moves, tax tool: Hello Hilario, Complete information about 1031 exchanges is best supplied by an accountant. As accountants on the site recommend me I also recommend them when appropriate. So consider the accountants at the site for the best reply. Thank you very much,...

Buying or Selling a Home: Creating a 1031 Exchange, capital gains tax, owner moves
capital gains tax, owner moves, tax tool: Hilario, In order for a property to be considered an income property rather than your personal residence you cannot have lived in it for 2 out of the last 5 years. All tax questions need to be referred to an accountant. There are companies that specialize...

Buying or Selling a Home: Creating a 1031 Exchange, capital gains tax, owner moves
capital gains tax, owner moves, tax tool: Hilario: I am not tax expert. You need to contact a good CPA, or tax man that is familiar with real property and the tax laws. All the questions you ask are very good, but need to be answered by a tax man. I would suggest in the future, as we do...

Buying or Selling a Home: Creating a 1031 Exchange, capital gains tax, owner moves
capital gains tax, owner moves, tax tool: do u have a good CPA you can trust? remember, cap gains due is based on a year s activities-- not one transaction! u can set it up at no cost. title company not related to 1031; only the IRS and you. all props get to your CPA and get back to...

Buying or Selling a Home: Creative Financing for Selling a MH on property, sf bay area, getting a loan
sf bay area, getting a loan, seller financing: Hi Ann...tough situation. I m not able to give you real estate advise, but I would call the current lender, and try to have her assume the loan, etc. They may ask you to guarantee it. You could also try a local escrow company, as they will have the kind...

Buying or Selling a Home: Creative Financing: Student Loans for Home Purchase?, private student loans, real estat
private student loans, real estat, loan money: John; Great Question. This is a great concept for you and your friends to do. It will all come down to financing and how banks view you and if they will loan money to you. I am not well informed enough to advise you either way about the student loan...

Buying or Selling a Home: Creative Home Buying, time home buyer, first time home buyer
time home buyer, first time home buyer, bread winner: HI, Thank you for your question. Chicago is a hot area or market to invest. Properties go up in value an average of 7% a year there. I would recommend you purchase a home at a discount maybe 80-85% of value & then rent or sell after 2-3 yrs. I will be...

Buying or Selling a Home: Creative Investing, internet search sites, doug ingram
internet search sites, doug ingram, linton johnson: Linton, Your basic financing techniques for a multi-family are going to include: *owner financing *subject-to financing *hard money *traditional mortgage A simple way to investigate these would be to google the terms or search through other Internet...

Buying or Selling a Home: Creative way to avoid Capital Gains or Not?, state regs, thought question
state regs, thought question, septic field: Christina, That really is a tax related question. You should consult with your tax advisor. However, regardless, you should be aware that splitting the property may or may not be that easy. Depending on zoning, CC&Rs, and local and state regs, you might...

Buying or Selling a Home: Credit, mortgage program, mortgage broker
mortgage program, mortgage broker, best mortgage: Hello Darryl, The questions you have, should be directly answered by a local mortgage broker. An analysis of your credit report, and studying the different lenders guidlines will let the broker advise you as to the best mortgage program for you. So with...

Buying or Selling a Home: Credit, worst case scenerio, jessica bryan
worst case scenerio, jessica bryan, credit score: Dear Darryl; When putting over 30% down on a home purchase there are loans that require little or no documentation. This, however does not include credit issues. Anyone who lends you money wants to know how reliable you are at paying back. If you put more...

Buying or Selling a Home: Credit, minimum downpayment, credit score
minimum downpayment, credit score, credit scores: Darryl, I don t see you having problem qualifying for a loan. I work with lenders that approve loans to credit scores as low as 500. Minimum downpayment is 5%. If you put down more, the better. You can go to this link online & fill out the brief...

Buying or Selling a Home: Credit at Closing, small claims court, board of realtors
small claims court, board of realtors, code of ethics: You can take your complaint to the local Board of Realtors since the office manager has done nothing about it. It would be a violation of the Realtor s Code of Ethics but would not offend the state real estate agent laws. Or, you can take it to small claims...

Buying or Selling a Home: Credit Scores, state mortgage, president state
state mortgage, president state, rotenberg: There is no need for you wife to be on the mortgage. With you score the world is yours (provided you do not need 100% financing) You wife will be on the title to the new home but not on the mortgage. It will appear on your credit report only. We do...

Buying or Selling a Home: Credit Scoring, medical collections, decent rate
medical collections, decent rate, credit score: 1.)Most lenders wont lend unless you have at least a 500 score, and the lower your score the higher your rate. A good score for you to be able to obtain a loan at a decent rate is 580, so you have ALOT of points to obtain. But it can be done. 2.) The most...

Buying or Selling a Home: Credit, boca raton fl, state mortgage
boca raton fl, state mortgage, president state: With a credit score in the 585 range you can most likely get 75%-80% financing. On a $125,000 home purchase that would amount to $25,000-$31,250 down. Best of luck. Jay Rotenberg, President State Mortgage Funding, Inc. Boca Raton, FL 33498 ...

Buying or Selling a Home: Curb Appeal, cosmetic work, color schemes
cosmetic work, color schemes, taking the time: Curb appeal is very subjective but it contains things like roof lines, landscaping, and color schemes. It can be very important in the sale of a home because buyers first buy the neighborhood, then the front of the house. By the time they get inside, the...

Buying or Selling a Home: Curb Appeal, paint windows, fresh paint
paint windows, fresh paint, window dressing: Curb appeal is just that, how well does your home look to a buyer. Like window dressing, is it appealing and look well taken care of? Is there any obvious repairs? Is the yard well cared for? Fresh paint? Windows clean? Most people want to buy something that...

Buying or Selling a Home: Curb Appeal, white picket fence, marketing tool
white picket fence, marketing tool, walkways: Actually, Levi, you can answer that question yourself this way: If you were looking for a house to buy, chances are you would pass up any house that has no curb appeal. Curb appeal means the owner has maintained the property inside and outside, trees frame...

Buying or Selling a Home: Curb appeal, graduation project, dirty clothes
graduation project, dirty clothes, curb appeal: Dear Levi Cepak, Thank you for your questions. Curb appeal is probably the second most important feature of a property after location (#1). Houses are displayed in advertising, print and internet with photos. If the photos (curb appeal) are bad buyers...

Buying or Selling a Home: Custom Home, cost per square foot, city approvals
cost per square foot, city approvals, luck john: Darnell: What you need to do is first have an agent give you an idea of what houses are going for in the area. Visit some houses that are similiar in size to the one you are thinking of building - after seeing what those homes sell for - then start talking...

Buying or Selling a Home: Custom Home vs Residential Home, telephone yellow pages, purchasing land
telephone yellow pages, purchasing land, mr dennis: One of the first clues I look for before I look to move into an area, Darnell, is to look at the real estate agents section of the telephone yellow pages. If there are a lot of agents advertising there and seems to be a lot of agents generally, then you can...

Buying or Selling a Home: Custom Home, purchasing land, building a home
purchasing land, building a home, darnell: Dear Darnelle, Much of your situation is outside of my expertise but I really don t see why you would need a real estate agent. I think your idea of shopping around is wise and you will probably learn something from each company you interview. My experience...

Buying or Selling a Home: how can I cancel a contract with a bad agent?, jessica bryan, referral fee
jessica bryan, referral fee, phone didn: Dear Lily; I am sorry that you are having this problem. Unfortunately, as with all professions there are hard workers and lazy workers. I would suggest that you speak with the agent s managing broker and see if you can be reassigned or cancel the contract....

Buying or Selling a Home: cancel a contract, jessica bryan, person signs
jessica bryan, person signs, dear debbie: Dear Debbie; The contract is active once it is signed and unless there is a stipulation in the agreement stating that a person has a certain amount of days to cancel, there is no contractual out within a certain time period. If you are not happy with your...

Buying or Selling a Home: cancel contracts in PA, drinking water standards, faith deposit
drinking water standards, faith deposit, safe drinking water: Hi Brad, Usually, I like to see problems fixed between the buyer and seller without having to utilize an attorney but, you have a pretty sticky situation...one that might best be rectified by a real estate attorney. I would first try to solve this between...

Buying or Selling a Home: Can i cancel the house with my deposit back, small claims court, waist time
small claims court, waist time, purchase agreements: They are taking advantage of you, Jessica! Every purchase is subject to the approval of the loan. Otherwise, you are supposed to get your deposit back. In what state do you live? In what state is the property located? You may have to go to a REAL ESTATE...

Buying or Selling a Home: cancel an offer, earnest money deposit, flood insurance
earnest money deposit, flood insurance, question thanks: Well Julie, based on your response and if you are determined not to go through with the deal- you would appear to be within your rights. It would seem the seller is then at fault for not completing the repairs on time. If you are sure you do not want this...

Buying or Selling a Home: how to cancel a pre-construction deal, pre approved mortgage, schedualed
pre approved mortgage, schedualed, pre construction: If you can t get financing, you can t be expected to close a deal, unless it can be proven that you intentionally sabotaged your ability to finance. Read your contract! There will be a paragraph that deals with return of security deposit. In the end...

Buying or Selling a Home: cancelled contract, jessica bryan, refundable deposit
jessica bryan, refundable deposit, buyer remorse: Dear Juinieth; There is no way you can legally cancel a contract because of Buyer s remorse unless you have a contingency built into the contract or have specific verbeage allowing you to cancel for any reason whatsoever (this usually is accompanied by a...

Buying or Selling a Home: cancelling a listing agreement, realator, real estate agent
realator, real estate agent, sole owner: As long as your husband is the sole owner of his house, and he signed the listing agreement, then it is a valid listing. However, the real estate agent should have left your husband a copy. Technically, it s not valid until he does. However, he can easily...

Buying or Selling a Home: cancelling a listing agreement., perspective buyers, phone conversations
perspective buyers, phone conversations, voice mails: Do not hesitate, Shany. Do this: Send the office manager a letter everything that you have enumerated in the note to me and tell him/her that the listing is cancelled as of (pick a date). If there is no response, or if they dispute what you have said, immediately...

Buying or Selling a Home: cancelling new home contract, loan paperwork, home contract
loan paperwork, home contract, contigency: As a side note, I did not receive you question until today even though you sent it a few days earlier. I apoligise in my delay in getting back to you. Rick Hello Erica and thank you for your question. I see you have a real problem and it is one...

Buying or Selling a Home: capital gain taxes on sale of short platted property, capital gain taxes, question pool
capital gain taxes, question pool, luck john: Hi, I found your question in the question pool. To get correct answers, you will need to talk to a tax advisor. As for the Revenue Code 121 go to: www.YorkPAhome.com click on: Favorite Links go down to: Tax You should find answers on...

Buying or Selling a Home: capital gains, capital gains tax, value appreciation
capital gains tax, value appreciation, loan product: Hi, From what I understand, any Real Properties sold before the 2 year anniversary of acquisition is subject to capital gains tax as it will be considered an appreciated asset. You will only be taxed on the appreciation of the property ( the difference...

Buying or Selling a Home: capital gains, irs web site, www irs gov
irs web site, www irs gov, irs rule: Hi Karen, I apologize for the delay in responding. With my real estate work load, I was simply unable to respond earlier. I am not qualified to give you accounting/tax advice, but I am going to pass on to you my basic understanding of the capital gains...

Buying or Selling a Home: capital gains on sale of two faimly home, faimly, single home
faimly, single home, tax expert: Try this, Joseph. Move into the vacant unit for two years. Sell the whole property and you should be able to have a $250,000 exemption on unit since you lived in the first one for at least two of the previous five years and then ditto for the second one. However,...

Buying or Selling a Home: capital gains from selling a home, capital gains tax, real estate broker
capital gains tax, real estate broker, capital improvements: HI Anthony, Thanks for your question. You will owe a capital gains tax on the difference between what you paid 40k, plus capital improvements 60k, plus the 500k exclusion, plus any selling expenses that you have such as a real estate broker commission...

Buying or Selling a Home: capital gains / split 2yrs owner occupied, capital gains exclusion, taxable capital
capital gains exclusion, taxable capital, tax expert: I suspect you asked this question of me once before, Wendy. I answered it this way: Yes, you may live in a home as your PRIME RESIDENCE for a TOTAL of two years even if it is broken up into segments. The IRC 121 stipulates that you must live in your residence...

Buying or Selling a Home: capital gains tax, capital gains exemption, capital gains tax
capital gains exemption, capital gains tax, dear mrs: Dear Mrs. Goldberg: Generally, you would owe the full capital gains on the $100,000 gain. However, you may qualify for a capital gains exemption based on your unemployment. If you reside in New York or New Jersey, you may contact my office at info@anthonyspark.com...

Buying or Selling a Home: capital gains tax, capital gains exclusion, capital gains tax
capital gains exclusion, capital gains tax, dear dorothy: Dear Dorothy: There are only a few limited exceptions to the two year capital gains exclusion rule. What is your reason for moving? If you are moving due to unemployment, change of job, or for personal or family health concerns, then you may qualify for...

Buying or Selling a Home: capital gains, taxable gain, tax expert
taxable gain, tax expert, capital gains: Under IRC 121, yes, you must live in your residence for two an aggregate time of two years out of five. So, therefore, if you were to move back into your first home for at least eight months, then you would qualify to erase any capital gains up to $250,000...

Buying or Selling a Home: carrear, salesman license, hotmail
salesman license, hotmail, real estate license: Dear Nick, Having a real estate license will allow you to represent others in the purchase and sale of real property and accept compensation for it. Once you have gotten your salesman license you will have to work under the auspices of a broker. Most...

Buying or Selling a Home: changed property line, current market value, tax payments
current market value, tax payments, fence: Dear Mark, I would meet with a real estate attorney and let him/her review your contracts. It sounds like the builders acknowledge they misrepresented the property, therefore they should be held accountable for fixing the problem. An attorney should be...

Buying or Selling a Home: changing buyer's agents (no contract), e mail address, dear diana
e mail address, dear diana, referral fee: Dear Diana: Thank you for showing concern to do the right thing and wanting to go in the ethical and legal direction. Unless you have signed some kind of broker-buyer agreement, you may have no obligation; also, these agreements are not necessarily binding....

Buying or Selling a Home: changing my home from owner-occupied to an investor trust, capital gains tax, tax expert
capital gains tax, tax expert, 1031 exchange: I may be wrong, but I doubt it, Antonia, but all that will do will put an investment property into your trust. The property will then be treated as such. However, if it becomes an investment property, you may defer any capital gains by trading it in a 1031...

Buying or Selling a Home: changing property ownership, company acts, warranty deed
company acts, warranty deed, grant deed: You don t need a lawyer, Chris, but I strongly suggest you do hire one to make sure this all goes down right. This you must do: You will execute a quit-claim deed or a warranty deed to your ex-partner (by the way, never form a partnership with anyone you...

Buying or Selling a Home: how cheap is cheap without a realtor?, remax agent, sft
remax agent, sft, home appraisal: Hi Jennifer. The appraisal from last year is of no value. You can only use an appraisal for 6 months. So having said that, you need to find out what the homes that are just like or very similar to the house your are purchasing have SOLD for in the past...

Buying or Selling a Home: choosing a reator, jessica bryan, reator
jessica bryan, reator, home realty: Dear Lori; This is a difficult question because of all of the variables. If your town is a small town that is easy to learn another REALTOR 50 miles away may be right for you and will know real estate in the area without any problem. If, however, you...

Buying or Selling a Home: closing in 2 days, mcnamara judith, social security checks
mcnamara judith, social security checks, deposit monies: Judith, I am not sure what state you are in but in the agreement of sale for Pennsylvania your agent should have checked off a box that states seller is only limited to retaining deposit monies if buyer defaults (this is 1st and 2nd deposit). They can not...

Buying or Selling a Home: closing gone bad, real estate lawyer, mortgage balance
real estate lawyer, mortgage balance, sellers agent: I m not a lawyer, so I can t give legal advice. I would recommend you consulting a Real Estate Lawyer to see what your options are. Georgia is a Title Theory state which means that the bank holds title to the mortgaged property instead of just having a...

Buying or Selling a Home: closing cost help, earnest money deposit, horror stories
earnest money deposit, horror stories, closing cost: Hello Ncee and thank you for your question. I am not sure what question you are asking me. Is it that you are concerned that the buyer has no cash and is buying with 100 % financing? This is going to make the banks appraisal very tight meaning that...

Buying or Selling a Home: closing costs, todd thornton, paying back taxes
todd thornton, paying back taxes, financial responsibility: Lynn, All closing costs are negotiable. It depends on where you live as to which costs might be normal for a seller to pay. While you can agree to pay closing costs, it s not your responsibility unless you agree to it. The offer to purchase contracts spells...

Buying or Selling a Home: closing costs, mortgage interest rate, local realtor
mortgage interest rate, local realtor, mortgage balance: HI Lorrie, Certainly you can ask the buyer to pay your closing costs, but that would be the same as paying a higher price. They may not want to do that. You may want to try to offer them a buydown on the mortgage interest rate. If they pay a higher...

Buying or Selling a Home: closing costs, rule of thumb, loan costs
rule of thumb, loan costs, selling your home: Hi Resa, I can t break down all the costs because they vary depending on the area. A good rule of thumb is 7-8% selling your home and 2% buying. You would have to get loan costs from a lender. Hope this helps. Sue Bernstein www.SueBernstein.co...

Buying or Selling a Home: Are our closing costs too high?, good faith estimate, bank lender
good faith estimate, bank lender, unforseen events: Stephanie, Closing costs in my area would range between $1,500-$2,000 but it also depends on what you re classifying as closing costs and whether you re paying points to buy down the loan. 1 point would equal $820 dollars. I d suggest you visit www.bankrate.com...

Buying or Selling a Home: closing costs, loan origination fee, luck john
loan origination fee, luck john, hello john: Gerry: There is no such thing as average costs - there is also no rule of thumb - the best way to see if the costs are reasonable is have your real estate agent review the estimate of costs. The costs you listed in your question appear to be reasonable...

Buying or Selling a Home: closing date in contract, baby due dates, squeaky wheel
baby due dates, squeaky wheel, unforseen problems: Hi Allan, Thanks for the question. Escrow s hardly ever close on time. Escrow close dates are like baby due dates...it s the only day that you can be sure it WON T happen. The loan process, appraisal process, physical inspection process, etc. are hard to...

Buying or Selling a Home: closing on a home, real estate broker, time brian
real estate broker, time brian, earnest money: This is really a legal question. I would encourage you to speak with an attorney to learn the potential for settling what you describe to be a pending judgement against you. As to whether it is impossible to purchase a home with a pending judgement I am not...

Buying or Selling a Home: closing time, earnest money deposit, closing time
earnest money deposit, closing time, refundable: You might want to ask him, Richard. He might even tell you why he wants to close on that date. Maybe he has his house sold and it won t close until then and therefore he could not close with you until then. However, I recommend you ask something of him in...

Buying or Selling a Home: closing, reciept, town government
reciept, town government, title company: Hi Aisha, Information regarding the house you intend to buy is public information. You do not have to rely on the seller to supply the info either. Your lawyer will hire a title company to research the title and determine if there are any liens against...

Buying or Selling a Home: co-op contract issue, white plains ny, lisence plate
white plains ny, lisence plate, contract issue: Hi Amanda, Thank you for your question. Parking in White Plains can be an issue. If the contract is signed by all parties then the terms of the contract are in effect. If the contract states they get parking permits, then they must be able to get them....

Buying or Selling a Home: co-owners don't agree, two females, state of pennsylvania
two females, state of pennsylvania, gay couples: Hey, Amy. I m seeing your name connected with ex-partner and could she be held accountable to indicate two females in a relationship that is no more. As a gay man in a 13-year Domestic Partnership here in San Diego, I m sorry to hear that. However,...

Buying or Selling a Home: co-owners, state mortgage, mortagages
state mortgage, mortagages, joint tenant: All title holders DO NOT need to sign on any new mortgages. The only times all the title holders need to sign is when the title holders are married and it is their primary residence or second home. With investment properties, any of the owners can mortgage...

Buying or Selling a Home: co-ownership, roof plumbing, new porch
roof plumbing, new porch, plumbing repairs: It doesn t matter if she wants to sell or not. The court will decide how and when it is going to be sold when you file a partition partition with a real estate attorney. The main thing is that you want to get away from that drain. You can have her buy (ha,...

Buying or Selling a Home: co-owning with a relative, key man insurance, limited liability company
key man insurance, limited liability company, forming a limited liability company: Dear Ms. Hawkins: Based on the information you ve provided, you may consider: forming a limited liability company, type-S corporation, or partnership with your niece; drafting a very strict buy-sell agreement; purchasing key-man insurance; and purchasing...

Buying or Selling a Home: Should I co-sign a mortgage for my son?, tile setter, own mortgage
tile setter, own mortgage, arears: If he s somewhat irresponsible and immature, you d be foolish to take the risk. If he should stop making payments for any reason, guess who the bank is going to come to? Yes, they are going to require you to make up any payments that are in arears. If you...

Buying or Selling a Home: Not to code, code changes, home inspection
code changes, home inspection, safety issue: 8-26-06 Hi Jeanne; Its been a couple of days since I wrote you...hopefully you had time to read my reply to your building code/home inspection concerns. If you need further assist ace, just ask. If not, please won t you take a moment to rate my...

Buying or Selling a Home: collecting a finder's fee in new york, real estate license, real estate transaction
real estate license, real estate transaction, bird dog: Just call up or sit down in the office of a REAL ESTATE attorney and ask. I cannot say for sure, for New York. Some places call it a bird dog fee. Some require that you ONLY introduce the agent to the buyer or seller BUT DO NOTHING ELSE. In that case you may...

Buying or Selling a Home: commercial prop, commercial loans, financing option
commercial loans, financing option, seller financing: Hey Nick, Thanks for the question. To be 100% honest, I don t have much experience with commercial loans. That said, owner carry financing is the same for commercial or residential. Essentially owner carry is just as it sounds. You will sign a promissory...

Buying or Selling a Home: commerical real estate, commerical real estate, family member
commerical real estate, family member, circumstances: Hello Julie and thank you for your question. I am not certain that I understand what you are asking so you may write me back if this is not what you are looking for. Property is property, residential or commercial and is sold to a buyer who is willing...

Buying or Selling a Home: commision for sell of mobilehome, mobilehomes, mobilehome
mobilehomes, mobilehome, 100k: Hi Susie....the fee is not a percentage base, like real estate. It would be that $5k whether is was $100k, or $35. You don t pay it, or any charges, I m figuring...buyer usually pays for all. Hey, if you get your $$, what s the diff?? Anyway, it s quite...

Buying or Selling a Home: commission due?, legal binding agreement, remmber
legal binding agreement, remmber, attornies: I would check with your firms attorney, local associations attorney and your buyers attorney. If the buyers still want the home they are due the home per the contract but that is a battle for the attornies since they are more in tuned with laws in your state...

Buying or Selling a Home: commission refund after closing, breach of contract, real estate commission
breach of contract, real estate commission, bic: Dear Kamaria; Thank you for your question. It is unfortunate that you have been put into a position that appears to be the fault of the list agent and broker of the company your home was listed with. I am not sure what state you are located and the laws...

Buying or Selling a Home: commission, westchester county ny real estate, value appraisal
westchester county ny real estate, value appraisal, commitment letter: Hi Joy, Thank you for your question. I would expect the commission to be based upon the agreed upon selling price before the adjustment. The closing process is similar to that of a house. After you have a buyer and agreed upon terms the buyer can...

Buying or Selling a Home: commissions, legal person, fornos
legal person, fornos, real estate agent: Hi c, thank you for your question, by the way that s a very unique name. Would you or the trust have know about your property if it was not because of the Realtor?. Yes to your first question regarding commission it is standard. To your 2nd question yes...

Buying or Selling a Home: commissions, s broker, legal obligation
s broker, legal obligation, legal person: Hi Coup, Thanks for writing All Experts. Yours is a very interesting question. There are numerous ways a Trust can be set up. The language within the body of the Trust will set forth the limitations and authority of the Trustee who manages the Trust....

Buying or Selling a Home: commissions, procuring cause, legal person
procuring cause, legal person, real estate agent: Dear Coup, Thank you for your question. Yes, the repeat rental, renewal or purchase clause is standard. Legally the person s wife might be right, but ethically if I were you I would pay the broker the fee. They are the procuring cause of the rental....

Buying or Selling a Home: comps., broker price opinion, competitive market analysis
broker price opinion, competitive market analysis, multiple listing service: Linda, For the most part you will not find any access to recent comps by yourself. In many areas of the country real estate sites have a function that let s you look at active listings from the local Multiple Listing Service (a condensed version), but...

Buying or Selling a Home: concerned mom, personal assets, unmarried man
personal assets, unmarried man, mortgage company: Erika, I am not certain if you also live in Arizona. If you do, Arizona is a community property state and you as a spouse are responsible for 50% of the community debt. To put a lien on your existing property or go after you personally, if it is in...

Buying or Selling a Home: condo - buying vs. renting, long term investment, condo market
long term investment, condo market, fornos: Hi Ursula, Thank you for your question, I m not able to tell the future but I do know from my Real Estate experience that if you can afford to buy and hold for minimum 5 years, you will allways be ahead of renting. Good Luck, Ricardo (Rick) Fornos...

Buying or Selling a Home: getting out of condo contract, real estate transactions, family emergencies
real estate transactions, family emergencies, fresh paint: Hello Sriram and thank you for your question. Without seeing your purchase agreement, I would have to say that in most real estate transactions, if your company relocates you more than 50 miles or you move due to family emergencies or for health reasons,...

Buying or Selling a Home: condo development, bathroom tile, fiduciary relationship
bathroom tile, fiduciary relationship, legal options: Hello Mary, It sounds like you are in a frustrating situation. The developer is making a business decision that disregards what the salesperson told you. Is there anything in writing (notes on a brochure for example) that can document what was said? If...

Buying or Selling a Home: condo development, bathroom tile, loop hole
bathroom tile, loop hole, purchase contract: It is obvious, Mary, that they DO WANT YOU to pull out of your agreement so they can sell that condo for lots more. Since you have nothing in writing, you don t have much to rely on. You must remember this: In real estate, if it isn t in writing, it was never...

Buying or Selling a Home: condo development, carpet colors, bathroom tile
carpet colors, bathroom tile, advancements in technology: Hello Mary and thank you for your question. Hmmm, heard this one before. At the time the builder was selling they could not be certain that carpet colors, appliances, cabinets and such would be available two years ahead. Suppliers do change their...

Buying or Selling a Home: condo disrepair, first rain, rain storm
first rain, rain storm, band aids: The attorneys no darn well they are at fault and all they can do is to keep sending repair guys. You should write a letter to them, sent via certified mail, saying that you are sick and tired of the futile stabs at repair. You are going to hire a roofing contractor...

Buying or Selling a Home: condo disrepair, first rain, rain storm
first rain, rain storm, band aids: If I were you, I would hire my own attorney. You mentioned the owners of the building are attorneys. You should have a legal representative on your side. There really is no reason for this to be going on so long. A professional contractor should have been...

Buying or Selling a Home: condo disrepair, first rain, rain storm
first rain, rain storm, band aids: Dear Augusto; Thank you for your question. First I would like to apologize for taking a couple of days to get back to you. I am currently in Mexico on a trip and have not had the chance to answer my emails like I should have. It’s unfortunate that you...

Buying or Selling a Home: condo disrepair, first rain, rain storm
first rain, rain storm, band aids: Dear Augusto; Thank you for your question. First I would like to apologize for taking a couple of days to get back to you. I am currently in Mexico on a trip and have not had the chance to answer my emails like I should have. It’s unfortunate that you...

Buying or Selling a Home: condo disrepair, first rain, rain storm
first rain, rain storm, band aids: First of all, its illegal for real estate agents to give any type of legal advice. I would talk to a real estate attorney in your area. Most of them will give you an hour or at least a half hour free just to go over your issue and make sure you have a good...

Buying or Selling a Home: condo inspection, american society of home inspectors, condo owner
american society of home inspectors, condo owner, condo units: Hi Bailey, Our fees are based on the total square footage of the unit. Depending upon which area of the contry you are in, some inspection company s charge a flat fee or in areas such as the North East, by the price of the home. You may even find some who...

Buying or Selling a Home: condo inspection, quality home inspection, john mckenna
quality home inspection, john mckenna, luck john: You can find an InterNACHI home inspector here http://inspectorseek.com It is the largest home inspection assoc. in north America. Read this to understand the qualifications of an InterNACHI inspector... http://www.nachi.org/blind.htm Look for someone...

Buying or Selling a Home: condo inspection, condo units, real estate agent
condo units, real estate agent, condos: The answer is a resounding YES! Even though the units are nearly new, there is always the potential for a problem. There is no such thing as a perfectly built home. Even with the best builders things get missed and mistakes are made. Much better to find...

Buying or Selling a Home: condo offer problem, new building construction, capitol view
new building construction, capitol view, floor condo: Hi Mary, Several factors can come into play here. First, when you entered into a Contract of Sale, was a VIEW of the state capitol building advertised as part of the sales package? And if so, do you have any of the printed brochures or advertisements...

Buying or Selling a Home: condo sale/purchase transaction, california state law, todd thornton
california state law, todd thornton, offer to purchase agreement: Pramod, Sorry for the delayed response. I d probably recommend contacting an attorney/title company to complete an offer to purchase agreement so you can both have a written document that spells out the terms and conditions. This document will contain all...

Buying or Selling a Home: condo/townhouse vs home, condominium insurance, first time buyer
condominium insurance, first time buyer, question thanks: Tim, You need to review the homeowners documents for the particular development that you considering. Most states allow you to rescind a contract within three days, if you do not like the way they handle these items. Each is different and that is why you...

Buying or Selling a Home: condo/townhouse vs home, todd thornton, first time buyer
todd thornton, first time buyer, question thanks: Tim, it would depend on the bylaws of the condo association. Typically, if you own a condo, you own from the inside walls in. The outside (walls,roof, etc.) of the structure would be handled by the association. This is normally the case if the units are on...

Buying or Selling a Home: condo/townhouse vs home, first time buyer, budgeting money
first time buyer, budgeting money, rule of thumb: Tim, As a basic rule of thumb most associations say that if it is within your four walls, you are responsible. If it is part of a common area the association is responsible. In a condo the common areas are hallways, party rooms, lobby and the exterior...

Buying or Selling a Home: condo/townhouse vs home, restrictive covenants, jessica bryan
restrictive covenants, jessica bryan, first time buyer: Hello Tim; There are differences in ownership between condo and townhouse owners. Usually, in a Townhouse, the owner maintains the interior of a home as well as the,plumbing. The Association then maintains the roof, the exterior walls and some of the landscaping....

Buying or Selling a Home: how to get in contact with you for a 1on 1, david garcia, estate projects
david garcia, estate projects, costa rica: Daniell, Send me your number to discuss my 1 on 1 training or call me at: 011-506-826-7619 I m currently in costa Rica working on some real estate projects. I will be back in the US in 2 weeks. Lets talk before I arrive. David garcia www.realdeals3128.com...

Buying or Selling a Home: contengency offer, aol, top flight
aol, top flight, real estate agent: It is always better to put your house in escrow so that you are not at the mercy of the seller of the house you want to buy. While your house is on the market trying to sell, go to the neighborhood you want to live and get real familiar with the homes that...

Buying or Selling a Home: contigency clauses, local realtor, finding a home
local realtor, finding a home, housing market: Dear Charles, It is always tricky timing the sale of your home and the purchase of a new home but it is done all the time. First go out and make sure that there are properties out there that you would be interested in buying in your price change. Once...

Buying or Selling a Home: contigent contract, jessica bryan, home contract
jessica bryan, home contract, existing home: Dear Paul; I cannot ethically tell you to cause a delayed closing to void your contract. Since this would mean that you were manipulating the situation to the detriment of the seller and attempting to keep the seller ignorant of the fact I think that it would...

Buying or Selling a Home: out of contract, realtor fees, sellers responsibility
realtor fees, sellers responsibility, legal battles: Hello Judy, It is likely that their Listing Contract has language that for a set period of time beyond the listing agreement, the listing agent still should be compensated for a buyer that saw the home during the listing period. Now this is the sellers...

Buying or Selling a Home: out of contract, realtor fees, grandfather clause
realtor fees, grandfather clause, legal battles: Hi Judy, Thank you for your question. Since the buyer and seller were introduced by Realtors during the listing period they are still covered by the terms of the listing agreement. This I call the grandfather clause. If you like the house, make...

Buying or Selling a Home: Anyway to back out of contract?, earnest money deposit, third party financing
earnest money deposit, third party financing, local real estate: You said that the loan was denied because of appraisal problems? That means the property did not qualify. That should let you out without any problem. Simply advise all parties in the transaction, including any real estate agents, that fact and you should...

Buying or Selling a Home: Getting out of a contract, kb homes, local real estate
kb homes, local real estate, financial situation: Check your contract very carefully and see if there is a date on which the home is to be finished, George. If there is no provision in that contract that allows the contractor to extend it without your approval, then you simply wait for that date. Then, if...

Buying or Selling a Home: contract, varibles, doublewide
varibles, doublewide, worries: What state are you in? Are you selling land also? You would need to read your contract and see if you can get out. Maybe take it to an attorney and see what they say before you breach a contract. There are a lot of varibles that would play into this answer,...

Buying or Selling a Home: Getting out of a contract, subprime loan, single mother
subprime loan, single mother, home inspection: Hi Deanna, Your written Contract of Sale is the document that controls what happens throughout the buying process, and I am making several assumptions based on what you have written me. First, I am assuming that your Contract of Sale is, in fact, in...

Buying or Selling a Home: getting our of a contract, bold statement, contingency
bold statement, contingency, closing date: This is why I usually suggest my clients sell their home before buying another, although they should keep their eyes open for the next one. That being said, without seeing the contract you signed to buy, I can t advise you to take the contingency off. It...

Buying or Selling a Home: contract, breach of contract, home inspector
breach of contract, home inspector, foreclosure: I am not an attorney, I am a home inspector. Therefore, my answer is worth just about as much as you paid for it. You can sue anyone for anything. If you want to know more about the possiblilty of WINNING such a suit, you should contact an attorney that...

Buying or Selling a Home: what is a contract by assignmen...
HI Mark, Thank you for your question. An assigned contract is one that has been transferred from one party to another under the same terms with the permission of the other parties. This releases the party that assigned the contract from the terms and...

Buying or Selling a Home: contract breach, contract breach, similiar situations
contract breach, similiar situations, dual agency: Sorry you are in such a prolematic situation. However,real estate agents cannot, and can face liability, if they give legal advice. I feel certain that this is, or should certainly be, in all of the states. You need to obtain legal advice from an attorney....

Buying or Selling a Home: contract cancelation, ducuments, home contract
ducuments, home contract, earnest money: Hi Sean, Did the seller agree, in writing, to repair the items that you refer to? If so, you have the option to not go ahead with the purchase and get your earnest money refunded to you. If the seller did not agree to the inspection repair items, them you...

Buying or Selling a Home: contract on co-op, question pool, open contract
question pool, open contract, financial hardship: Hello, I found your question in the question pool and may be able to help you. Why did you wait this long????? I hope you see why you never sell by yourself and why you use a Realtor. A Realtor would have never left this happen. OK, your rights....

Buying or Selling a Home: contract problems, contract problems, option fee
contract problems, option fee, earnest money: Sorry to hear about this. Since it sounds like you can t get the loan, the contract will in fact become void. However, if this is not the case and there is no structural damage to the house your contract is still good. When you say the amount to fix things...

Buying or Selling a Home: getting out of a contract with real estate agent, contract clause, bad taste
contract clause, bad taste, estate business: Hi Olga, Yes, you can get out of your contract with your current agent. Call your agent or notify him/her in writing that you would like to cancel your listing contract. There is usually a holdover period written in the listing contract (you would need to...

Buying or Selling a Home: getting out of a contract with real estate agent, states real estate, real estate commission
states real estate, real estate commission, commission web: Hi Olga, You did not say whether your “contract” is a listing contract or a Contract of Sale. I am going to assume that you are asking about a listing contract/agreement. A listing contract or agreement is a legally-binding contract, but if your agent...

Buying or Selling a Home: getting out of a contract with real estate agent, principal broker, real estate license
principal broker, real estate license, estate experience: Hello Olga and thank you for your question. Yes is the short answer. How you go about this and what it may cost you, takes a bit more explanation. To begin, I have no idea what the language in your listing agreement is and so you must not take all that...

Buying or Selling a Home: contract, suitable buyer, real estate listing
suitable buyer, real estate listing, sales contract: Dear Ms. Lujan: I am pretty new in the Real Estate field, but joined the Allexperts website to provide basic assistance. As far as I remember from my real esate studies the answer should be: You do not specify if the contract you signed is the sales...

Buying or Selling a Home: contracts, real estate lawyer, real estate brokers
real estate lawyer, real estate brokers, real estate broker: Dear Dominique: Sorry to have to answer your question by not really giving an answer. But,real estate brokers are not allowed to practice law without a license which means I better not give you legal advice. Only lawyers can give you the legal protection...

Buying or Selling a Home: contracts, s broker, airs
s broker, airs, untill: Brad, Hello there. The reason why the Realtor is wanting 3% is to essentially get back some of the money he put in to marketing it... this is common. Also, you will need to look through the listing agreement terms and see if there is compensation owed for...

Buying or Selling a Home: two contracts, proper dates, valid documents
proper dates, valid documents, expecting an answer: Dear Vera: This is confusing to me as I have no copies of any of the documents. FYI, your agent is called either the Selling Agent or Buyer s Agent, and the agent for the seller is called the Listing Agent. All of the paperwork, offers, counter offers,...

Buying or Selling a Home: contracts, board of realtors, home owners association
board of realtors, home owners association, contract price: Robin, thanks for your question. You forgot to say what state you are in. If you are in Virginia or DC you may withdraw from a contract for the following reasons: Unacceptable home inspection, Unacceptable Home Owners Association regulations,...

Buying or Selling a Home: On leasing an apartment building and converting into a hotel, conversion period, payroll system
conversion period, payroll system, long term stay: Dear Shuki: Whenever you need a definition you could run a search in Google or other search engine. If it contains several words you could/should put it in quotes. I did the following search and got the following definition: Tenancy in common and definition...

Buying or Selling a Home: correction, synthetic stucco, eponym
synthetic stucco, eponym, senergy: Dear Randy: Thanks for the correction, but both terms are not very familiar to me. I guess living in Southern California does not lend itself to insuation systems. However, now that you told me,l will be more aware of when such a sysem comes to my attention....

Buying or Selling a Home: counter offer contract, legal standpoint, jessica bryan
legal standpoint, jessica bryan, thanks for your patience: 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: Ok I think I understand but..., abc realty, abc company
abc realty, abc company, estate sellers: Hi Tina, I am not familiar at all with Arizona law and so, therefore, cannot comment specifically as to your question. The question and answers you presented are a bit vague from my position in that the question does not state whether or not a payment...

Buying or Selling a Home: cracked bricks and mortar, bricks and mortar, structural engineer
bricks and mortar, structural engineer, window ledge: The home inspector can probably tell you if the condition is bad enough to get a structural engineer out to look at it - they (a structural engineer) would be the one to tell you if it is structurally sound, how extensive the damage may be, and some (most...

Buying or Selling a Home: creating income with fixer-uppers, hard money lenders, hard money lender
hard money lenders, hard money lender, profitable deals: Fixer uppers can definitley generate income. You can still do no money down deals with fixers uppers. How? You can offer owner a lease option. Another option is going through HARD MONEY LENDERS to fund your deals. These type lenders do not care about credit...

Buying or Selling a Home: creative refinancing, value question, minimum profit
value question, minimum profit, value investor: Armand, If you pruchase a home for a discount then refinance & cash out the seller of the land contract & keep the difference, your risks are very few. The only risk is that the property should go down in value. Other than that you re pretty safe. Just...

Buying or Selling a Home: no down/no credit check, jessica bryan, t rush
jessica bryan, t rush, assumable loans: Dear Sheryl; There are certain circumstances where you can assume someone s loan but assumable loans have become much more scarce. Banks want more control and want to make sure that you are a qualified borrower. However, if a home has gone into foreclosure,...

Buying or Selling a Home: no credit investing, david garcia, lease options
david garcia, lease options, real estate investing: David, I m sorry to hear about your situation. Fortunately, you don t need much money to start investing in RE. First you need to have a specific strategy to pursue. For example you can target Lease Options. You can buy your local paper & call on all...

Buying or Selling a Home: credit issues/question, federal student loans, verifiable income
federal student loans, verifiable income, mortgae: Often times the interest rate on a no documentation loan or a no ratio loan is only slightly higher than the rate of a full documentation loan. I would say on average it is .50% higher. Sincerely, Jay Rotenberg, President State Mortgage Funding, Inc...

Buying or Selling a Home: credit problems, first time buyer, first time buyers
first time buyer, first time buyers, bank lender: Some states have special First Time Buyers programs to help people buy their home. In some of those states, if you have not owned your home within the last five years, you are considered a FIRST TIME BUYER. Check it out. Talk to a mortgage broker or...

Buying or Selling a Home: crooked loan officer, luck john, believeing
luck john, believeing, department of real estate: Sophie: Not knowing which state you are in, I cannot give you totally correct information, but generally, in most States lenders are required to have a real estate license, and as such, if you feel the lender was not honest I would suggest contacting your...

Buying or Selling a Home: csspool, wall cracks, septic company
wall cracks, septic company, leaking roof: HI Ayman, Thank you for your questions. After the physical engineering inspection the inspector will tell you if there are any probelms with the house. In your case he pointed out small cracks, gutter problems, but all sounding minor and issues that...

Buying or Selling a Home: D R Horton Contract probelm, cancellation clause, d r horton
cancellation clause, d r horton, dr horton: Hi Phillip, Sorry to hear of your problem with DR Horton. My blood literally boils when I hear stories like this, and there is no room in the real estate business for companies who do business like this. Unless you were threatening someone at the sales...

Buying or Selling a Home: Dad's 80th, e mail address, computer novice
e mail address, computer novice, big beaver: Hello Anne, Thanks for the note. Yes I knew his birthday was comming and with great regret, I am unable to attend. Sending things out of here is, let s say difficult at best but I did send a card and had planned to call. I hope you all have a wonderful...

Buying or Selling a Home: DC/MD/VA house hunting, cheap accommodations, payment money
cheap accommodations, payment money, grad student: do nothing for now. get cheap accommodations, month to month. Find a job. then, I will help you buy a house--- or--- find a fix up house, available at 35% below fair market value, contract to get it fixed up, I will help with the financials, and...

Buying or Selling a Home: DEPOSIT, apple valley ca, dual agent
apple valley ca, dual agent, real estate co: Hey Ross, Not knowing how your contract reads, there is language in there that deals specifcally with the escrow or earnest money deposit. In most cases, when the contract is terminated by mutual consent - all parties, buyer and seller sign a release and...

Buying or Selling a Home: Deal going bad??, contingency clause, broker agents
contingency clause, broker agents, mortgage payments: Hey Vanessa, thank you for your kind words ; - ) Regarding the reason the house has not sold and the question of price - there has to be a reason other than price why it did not sell when others in the same neighborhood did. If you say it was in better...

Buying or Selling a Home: Deceased Owner's Property in Foreclosure, foreclosure auction, judicial sale
foreclosure auction, judicial sale, real estate agent: Your friend is going to have to wait, Stella. The lender must adhere to the state s laws regarding a foreclosure. And that means the lender must go the complete routine of having the foreclosure sale and auction. Your friend should keep track of the property...

Buying or Selling a Home: Deciding not to sell., termination agreement, deposit money
termination agreement, deposit money, emotional time: I would love to help with your issue however it is a bit vague. From what I understand you changed your mind but when you say you terminated the agreement what do you mean? Did you sign any documents to terminate that were also signed by the buyers? If so,...

Buying or Selling a Home: Decorating, carpet allowance, wood floors
carpet allowance, wood floors, marketability: Hi Diane, My advice would be to do the upgrade. Hardwood floors are on the list of must haves for many buyers. In a survey of real estate agents across the country, 58% of agents surveyed agree that homes with wood floors sell for more money than homes...

Buying or Selling a Home: Deed, joint tenants, joint tenant
joint tenants, joint tenant, joint tenancy: The reason why the mortgage company would not respond to you is because your name is not on the mortgage. They do not respond to ANYONE who is not their mortgagee. As for the title company, sure, they know they made a mistake and they are afraid you may sue....

Buying or Selling a Home: Deed, county recorder, age of majority
county recorder, age of majority, county courthouse: All you have to do is to go to a title company, Chris, and ask them to check the line of title to that property. They may not charge you for this service, or they may not. Or you can go to the county recorder and check the line of title yourself by checking...

Buying or Selling a Home: Deed ?, antagonistic attitude, warranty deed
antagonistic attitude, warranty deed, claim deed: You may do so with a quit-claim deed or a warranty deed or whatever conveying deed they use in New York. Just be aware that the person on title with you must sign all papers regarding the property. If that person is not around or has an antagonistic attitude...

Buying or Selling a Home: Deed to Home, quitclaim deed, title company
quitclaim deed, title company, title search: Dear Vita, Thank you for your question. To satisfy your concerns you should speak to an attorney or property title company to do a title search to assure you that there are no liens against the property and to determine the current recorded owner. Bring...

Buying or Selling a Home: Deed-In-Lieu, chapter 7 bankruptcy, credit expert
chapter 7 bankruptcy, credit expert, deed in lieu: Todd - I m not a credit expert or a financial planner, so please verify this with a professional in your state. That said, the only time creditors try to go after your personal property is usually in Chapter 7 bankruptcy, when your assets may be up for...

Buying or Selling a Home: Deed Restriction, county recorders office, deed restriction
county recorders office, deed restriction, warranty deed: Hello Kerry, It sounds like you need to get some answers from the source. You should find out if the ruling body is city or county and go to the zoning board and get their opinion. If needed you can find out about getting a variance to utilize the property...

Buying or Selling a Home: Deed restriction, deed restriction, grandfather clause
deed restriction, grandfather clause, deed restrictions: There must be some kind of grandfather clause, Larry. Otherwise, how is it that the property was able to be sold to you with those CC&Rs in place? How is it that the Realtor who helped you buy it did not catch those CC&Rs? How is it that the title company...

Buying or Selling a Home: Deed rewriting, survey document, derivation
survey document, derivation, title company: Hi Gary, Wow! What a predicament. You cannot simply “change” wording on a deed. There is a process to make corrections on deeds, and you need a good real estate attorney to handle this for you. I would first contact the surveyor who came up with...

Buying or Selling a Home: Deed Transfer and Taxes, deed transfer, hey george
deed transfer, hey george, loan contract: Hey, George. Your best option is probably not to transfer the Deed back to him until property taxes are paid. That, of course, leaves you open to having to pay the property taxes yourself. More paperwork probably is in order to ensure that taxes are paid....

Buying or Selling a Home: Deed Transfer and Taxes, california property taxes, several thousand dollars
california property taxes, several thousand dollars, deed transfer: Hey, George. The short answers is, Yes, you could be held responsible for any unpaid property taxes. Whoever owns the property is ultimately responsible for all unpaid taxes. For example, if the home goes into foreclosure and has unpaid taxes, then...

Buying or Selling a Home: Deed's of Trust signed by person without ownership, warranty deed, registrar of deeds
warranty deed, registrar of deeds, deeds of trust: Based on how you phrased it, Andrea, just as your husband and his ex were able to refi the property without his parents being around, so would it be possible for him to refi it without his ex around. Except (I had to read your note several times to make...

Buying or Selling a Home: Deed to Trust, real estate investor, doug ingram
real estate investor, doug ingram, mr ingram: Ram, Thanks for your question. Additionally, you should check out my company s website (www.nestbrokers.com) if you are a real estate investor as we often times post good articles and other helpful information for investors across the United States. ...

Buying or Selling a Home: Deed transfer, board of realtors, judie
board of realtors, judie, local board: Melissa, I am not sure of the laws in VA regarding this matter; however, whatever they are, to protect your mother, you really need to talk to a Real Estate specialist attorney, who can advise you as to the best way to handle this for tax purposes. Call the...

Buying or Selling a Home: Deed, joint tenants with right of survivorship, right of survivorship
joint tenants with right of survivorship, right of survivorship, judie: Moya, I am a bit confused by your question. Do you own this home yourself, or did you buy it with someone else. If the latter is the case, and you own it as joint tenants with right of survivorship, that means that when the two or more of you bought it, you...

Buying or Selling a Home: Another "Deeding" Question, claim deed, initial investment
claim deed, initial investment, snag: You re asking two different questions, Steph. Yes, you can become owner (or part owner) via quit-claim deed without any cash being in the picture. The second question is that someone may gift you $12,000 (cash or equity) per year tax free. I wish you...

Buying or Selling a Home: Deeds, comfused, joint tenant
comfused, joint tenant, good relationship: Hi Moya, I happen to own some property in Fort Pierce and know the area well, let me know Your full name, address of property and your contact number and I will forward the information to them. Feel free to contact me directly, either by phone or my...

Buying or Selling a Home: Default on closing, earnest money deposit, open contract
earnest money deposit, open contract, letter of approval: Hello Christine and thank you for an excellant question to answer / problem to unravel. Hmmmmmmmm. You left out some important facts that I really need to understand before I can really answer you young lady. So, Answer these and write me back. ...

Buying or Selling a Home: Defective A/C unit., north monroe street, condenser unit
north monroe street, condenser unit, c unit: With the sellers? That would depend on what your repair addendum stated and its wording, and, at some point that may require an attorney to clarify (which would likely cost more than the repair would). Is this a wall or window unit, or a regular a/c system...

Buying or Selling a Home: Delinquent tax properties, mortgage balance, delinquent tax sale
mortgage balance, delinquent tax sale, delinquent tax properties: The property tax (it is the state s administered by the local government) is ALWAYS the first lien on any property. That s why any lender will make sure the owner of that property is up-to-date on the taxes of a property. If not, they will pay the taxes and...

Buying or Selling a Home: Deposit for New Construction, new home builder, tax deductibility
new home builder, tax deductibility, tax purposes: Hello Joe and thank you for your question. Honestly you are going to have to pose that question to either one of the accountants on this site or who files your tax returns. I have never been involved where a client of mine had to loose a deposit. ...

Buying or Selling a Home: Deposit Refund, todd thornton, offer to purchase contract
todd thornton, offer to purchase contract, escrow account: Nestor, Sorry for the delayed response. I can t give legal advice so you can contact a local attorney that can review the contract you signed. Your situation could be complicated because of the fact the complete financing terms were not in the purchase...

Buying or Selling a Home: Developers, westgate resorts in orlando, selling timeshare
westgate resorts in orlando, selling timeshare, real estate broker: Hi Adam thank you for your question. Being that I m a general Real Estate Broker and own an EXIT Realty franchise, I m not sure I would recomend working for a developer, that would mean 8 to 12 hours a day working for normally 1% commission, when my agents...

Buying or Selling a Home: Developers, westgate resorts in orlando, real estate career
westgate resorts in orlando, real estate career, selling timeshare: Dear Adam, I am sorry but I have only sold residential resales in my career working solely on commission and don t know anyone who has worked for developers or timeshares. I would recommend talking with agents who specialize in these sales to get your...

Buying or Selling a Home: Developers, westgate resorts in orlando, selling timeshare
westgate resorts in orlando, selling timeshare, salaried basis: Hi Adam, If you are good in the sales area, I think you would always be better off to be paid on a commission basis vs a salary. You would be limited with a salary. On the other hand, if the timeshare market is good in Orlando and a developer has...

Buying or Selling a Home: Developers, high pressure sales pitches, westgate resorts in orlando
high pressure sales pitches, westgate resorts in orlando, selling timeshare: I have no interest in time shares, Adam. If you BELIEVE in them, then proceed. You gotta believe in what you sell. Any business that has to bribe you to attend high pressure sales pitches obviously needs a second thought. I do wish you well. There are so many...

Buying or Selling a Home: DISCLOSURE, electrical permits, personal residence
electrical permits, personal residence, electrical outlets: Hi Scott, Yes, I would definitely disclose exactly what you have written to me. If there is any question as to whether or not any of your renovations are not to Code, I would address that issue now by having a qualified, licensed home inspector or...

Buying or Selling a Home: Differences...?, real estate broker, state test
real estate broker, state test, department of real estate: THough the cultural differences are more obvious than the legal ones, it is an easy answer; I was a RE agent [legally called a sales person] that is the first step of 2 steps. ONE starts out as a salesperson after passing a school course and state ...

Buying or Selling a Home: Dirressed Proporties, distress properties, local newspapers
distress properties, local newspapers, fornos: Hi Annadisanto, The best advise I can give you is to find a Realtor that you trust and work with him/her, they know about distress properties and how you can buy them. Ricardo(Rick)Fornos EXIT REEL Int l Realty 954-457-7878 www.reeltor.com rick@ricardofornos.com...

Buying or Selling a Home: Not Disclosing Leaks, litigation division, roofing company
litigation division, roofing company, repair attempts: Is that a viable option ? I m not an attorney so I can t discuss the merits of your case, but in a practical sense, in America you can virtually sue anybody for anything. The burden of proof is on you, however, to prove the seller had pre-existing knowledge....

Buying or Selling a Home: Disclosure, septic system leach field, prescott valley az
septic system leach field, prescott valley az, leech field: Hi Erick, Thanks for the kind words about my Mom. She s anxiously awaiting a surgical procedure this coming Tuesday that we all hope will alleviate her problem walking. On to your septic dilemma now. My comments below are not intended as legal advice,...

Buying or Selling a Home: Disclosure, intentional misrepresentation, furnace system
intentional misrepresentation, furnace system, mold problems: Hi Gayle, Wow, sounds like you have been more than victimized. I am so sorry to hear of your plight. While you did not ask any specific questions, I am commenting below on what you wrote me: For starters, you should find out if there is a Statute...

Buying or Selling a Home: Disclosure, water stains, fresh coat of paint
water stains, fresh coat of paint, coat of paint: Sorry to hear about this. First, contact the seller and the Realtor, and nicely tell them about the problem and ask them for to have it repair. The seller should pay, but the Realtor does not have to pay unless you can prove the Realtor knew about this and...

Buying or Selling a Home: Disclosure, septic pumps, propane tank
septic pumps, propane tank, downstairs bedroom: Hi Tim, What a nightmare this must be for you. Stories like yours literally make the hair on my neck stand up, and I am so sorry to hear of your misfortune. Let’s start with the home inspector, and you will want to personally verify that the information...

Buying or Selling a Home: Disclosure Fraud, small claims court, disclosure laws
small claims court, disclosure laws, foley: Dear Kim: I am sorry that you are going through such an upsetting incident. It appears as if your seller was very crafty, but certainly not very nice or fair. Illegal? I don t know; you might want to follow up with your own agent and see what the disclosure...

Buying or Selling a Home: Disclosure fraud, certified mail, advertizments
certified mail, advertizments, septic tank: If those items that were taken, Roy, were connected or attached to the property, it is considered real estate. They must be returned or replaced by the seller unless the buyer insists on the actual items themselves. I would write a letter (sent by certified...

Buying or Selling a Home: Disclosure Horror, rain storm, horror story
rain storm, horror story, storm of the century: The fact that the seller was a Realtor should help you substantially, Gellia. You first have to establish your loss so far and then sit down and consult with a REAL ESTATE attorney. Chances are that attorney will suggest you have the seller reverse the sale...

Buying or Selling a Home: Disclosure of home, missouri realtors, board of realtors
missouri realtors, board of realtors, s broker: Dear Mark, In the state of Missouri Realtors are required to disclose anything that is known or that they should have known regarding the condition of a house, particularly a condition which could call into question the safety or structural integrity...

Buying or Selling a Home: Disclosure Law, water runoff, plumbing problem
water runoff, plumbing problem, disclosure law: The only statute that would apply from what I can see is fraud, Chuck. Fraud does not have a time limit. However, you did have the opportunity to have a professional inspection. But you chose to not do it. That would make it difficult for you in court. I would...

Buying or Selling a Home: Disclosure prior to purchasing a home, abstractor, narr
abstractor, narr, title company: Hi Helen, If a home has not yet actually been foreclosed on and is listed by an agent, the rule is ….. If the Seller gives an agent permission to disclose the fact that foreclosure is imminent, then the listing agent may disclose. If the Seller will...

Buying or Selling a Home: Disclosure: Sewer vs Septic, public sewer system, seller disclosure
public sewer system, seller disclosure, sewage system: Jennifer, Sorry to hear you’re having this problem. You have all the documentation you need to pursue this matter – the MLS printout, Seller Disclosure, and your inspection report. You mentioned that prior to purchasing, one of your concerns was septic...

Buying or Selling a Home: Disclosure Statement, window upstairs, window sills
window upstairs, window sills, s real estate: Cathy, I hate to say this, but it sounds like your fiancé was taken by the real estate agent and their inspector (note: that is not the same thing as your fiancé s inspector ... instead of working for you, it sound like the inspector was working for...

Buying or Selling a Home: Disclosure Statements, small claims court, disclosure statements
small claims court, disclosure statements, sewer company: I don t know how bad you want that house, Andi, but if it was me, I would tell the agent, escrow and title company that I am no longer interested and you want a refund of all deposits and charges I have had so far. Then I would go look for another house. You...

Buying or Selling a Home: Disclosure statement and home inspection, termite inspections, window upstairs
termite inspections, window upstairs, termite inspection: Cathy: Did you have a termite inspection done? Here in California, all of the lenders require termite inspections, and a termite inspection should show any rotten wood or damage. If you did not have a termite inspection done, then finding the damage...

Buying or Selling a Home: Disclosure statement and home inspection, window upstairs, shoddy workmanship
window upstairs, shoddy workmanship, window sills: Hello Cathy, Sorry to hear about this situation. You will have to consult with your Realtor and attorney on this one. Start with your attorney then consult with the Realtor to see if anything was said by the seller about the windows that might have misrepresented...

Buying or Selling a Home: Disclosure statement and home inspection, window upstairs, window sills
window upstairs, window sills, disclosure statement: Dear Cathy: I am so sorry that such a happy time should be disturbed by unhappy problems! Please contact the real estate office from whom you made your purchase, and discuss this with the manager. You should have been given more than one name for...

Buying or Selling a Home: Disclosure statement and home inspection, window upstairs, window sills
window upstairs, window sills, disclosure statement: Hi Cathy, Sorry to hear about your experience. What a shock to find that you have 15 windows rotted. Without having seen your inspection report, I can only give you general comments and ask you some pointed questions. Keep in mind that I am not qualified...

Buying or Selling a Home: Disclosure statement and home inspection, window upstairs, window sills
window upstairs, window sills, storage fee: Hi Cathy, First off, I apologize for the delay. I forgot to notify All Experts that I was on vacation. Next, it sounds like you own a hot tub. Since the Sellers failed to live up to the agreement, I d probably keep the hot tub or charge them a hefty...

Buying or Selling a Home: Disclosure, scott dick, bone of contention
scott dick, bone of contention, electrical permits: What you should say in your contract, Scott, is something like: Seller is not aware of any defects. (In the whole house for that matter. If you hire a real estate agent, he/she will provide a form that you will check off the condition of the house and...

Buying or Selling a Home: Disclosures, pre approval letter, faith deposit
pre approval letter, faith deposit, disclosure statements: Hi Elizabeth, Sorry for the delayed response as It never hit my inbox. You have some very good questions. To answer your questions see below: When you are interested in a house, there s certain information that an agent could/should provide to you....

Buying or Selling a Home: Disclosures, perspective buyer, consumer protection agency
perspective buyer, consumer protection agency, deliberate steps: Hello Jeff and thank you for your question. Because you did not tell me what state you are in, I can not provide you with a complete answer. I will sa this that yes, you should have some legal action / remedy due you if it can be proved you were subject...

Buying or Selling a Home: Discount or "Flat-Rate" Brokers, mls multiple listing, internet mls
mls multiple listing, internet mls, mls multiple listing service: Jan, The answer to your question should be contained in the exclusive employment agreement you signed with the discount broker. Part of the MLS (Multiple Listing Service) agreement is payment to the buyer s broker of a certain percent (usually 3%). If...

Buying or Selling a Home: Discounted sale, federal inheritance tax, sf bay area
federal inheritance tax, sf bay area, tax question: Dear Dan, I am sorry but this is a tax question and is outside the expertise of a real estate agent. I would suggest you ask the question of an accountant on this site. They might also have alternative suggestions on how you can transfer the property and...

Buying or Selling a Home: Divorce...how to give the house?, real estate questions, interest rate change
real estate questions, interest rate change, claim deed: Everything you asked, Kathy, could/should be answered by your attorneys. Most attorneys know absolutely nothing about real estate (they have to go consult their library). But I would think a divorce attorney who certainly must be used to dividing assets including...

Buying or Selling a Home: Don't know what to do, son dick, california agent
son dick, california agent, executor of the will: Hi Joyce, I really can t comment on how soft the market is in Wisconsin as I am a California agent. The first thing I would do is talk with an attorney and find out what your rights are and if you even have the ability to sell your portion. If the market...

Buying or Selling a Home: Don't want to sell - realtor does not want to give me a release, government branch, hard time
government branch, hard time, equity loan: Look closely at your listing agreement regarding cancellation. Standard contracts allow a written calcellation. If the listing agent and thier company continue to give you a hard time on this of they are a franchise contact thier corporate office and file...

Buying or Selling a Home: Doors open in/out, bedroom doors, closet doors
bedroom doors, closet doors, dear frank: Dear Frank, Thank you for your question! I m pondering your statement aboout the doors in Florida opening outward. In a private entrance of a house or condo, starting at your front door, the screen door should open outwards, but the front door would...

Buying or Selling a Home: Doublewide on land ?, foundation basement, doublewide
foundation basement, doublewide, construction loans: look for a mortgage broker who offers construction loans, you should be able to buy the land do any improvements to it such as septic and well and utilities and foundation,basement and the cost of moving the home. i would get quotes for moving it other...

Buying or Selling a Home: Downsizing, kind consideration, bathroom sink
kind consideration, bathroom sink, doable: Part 1- Regarding putting plumbing in a basement. You will need to check before you buy at what height the main sewer leaves the dwelling. If it is above the floor of the basement, you will need to purchase special mechanisms to lift the waste water. It...

Buying or Selling a Home: Dry Closing gone bad, grasping at straws, disclosure issues
grasping at straws, disclosure issues, cash buyer: This sounds like a for sale by owner, and why you should always use a Realtor. Really this all depends on how the contract is worded. See an real estate attorney. I asked my wife, who is a Realtor about this, and was told that as long as there is a...

Buying or Selling a Home: Dual Agent in PA, dual agent, agency contract
dual agent, agency contract, buyer agency: As far as your house being listed you should just have the agent put a withdraw from listing contract form together and have her sign it and also you sign and get a copy of it. As far as the buyer agency contract if you are going to continue to look with another...

Buying or Selling a Home: Dual agent or Single, luck john, dual agent
luck john, dual agent, hi john: Kevin: The question you have asked is one that buyers and sellers have to deal with a lot. If you have one agent that represents you when you sell a home, and another that represents you when you buy a home, it gives the appearance that you are getting...

Buying or Selling a Home: Duplex, bathroom appliances, maintenance expenses
bathroom appliances, maintenance expenses, unit basis: Hi Thank you for your question! I applogize for the lateness in my reply. I m still trying to catch up with work due to the short week. I will try to address the issues you ve noted in this question to the best of my ability, and I welcome you to contact...

Buying or Selling a Home: Duplex living, hi mary, extents
hi mary, extents, buying a new home: Hi Mary-Anne, Thank you for the question. It sounds like you are buying a single family attached duplex which to most extents is like a single family home. You are responsible for everything you own, the roof, the walls, the windows, the yard, the driveway?...

Buying or Selling a Home: Duplex, bathroom appliances, significant improvements
bathroom appliances, significant improvements, mortgage payment: Red, Thank you for your question. This is an interesting agreement and also one that will pose potential challenges for your friendship if you don t get resolution on the most equitable way to proceed forward. Key questions that are important in...

Buying or Selling a Home: We'd like to sell our first home, realtor selection, lengthy reply
realtor selection, lengthy reply, how to find a realtor: Hi Pam, Sorry for the delay in responding. I started this answer right after I received your question and did not finish until earlier this evening. I wanted to make sure you have more than a simple, basic explanation. This will be a lengthy reply,...

Buying or Selling a Home: We'd like to sell our first home, pam pam, how to pick a realtor
pam pam, how to pick a realtor, luck john: Pam: Choosing a Realtor is the most important part of deciding to sell your home. If you have friends who have recently sold a home, ask them how they liked their Realtor, if they were happy ask them for a name. I would suggest you interview several...

Buying or Selling a Home: date, gas crunch, concrete slab
gas crunch, concrete slab, poor structure: Each house is different from the next. A builder who does quality work and uses quality materials could have built a wonderful home in the years you have mentioned. A brand new home built with poor quality and compromised materials might look nice but...

Buying or Selling a Home: decorator's allowance, settlement check, arrangment
settlement check, arrangment, closing cost: Underwriters will allow either up to a 3% or 6% concession depending on which underwriter the buyer is using. Having either of those amounts applied to closing cost or needed repairs (i.e., repairs that are mentioned in the appraisal and approved by...

Buying or Selling a Home: deed, deceased father, aol
deceased father, aol, dick: Sure. It would be a good idea to go to the attorney who put the trust together and have him insert the name to whom you re selling your interest. Or have another trust-wise attorney put it together for you. Simple as all that. I do wish you well. Dick...

Buying or Selling a Home: deed, claim deed, 4 months
claim deed, 4 months, friedman: Armando, It depends on the Court Order. If the Court Ordered that she be removed from the financing, you would have to get re-financed. You may be able to get a quit claim deed to have her sign her title rights over to you if the Court Order allows you...

Buying or Selling a Home: about a deed to a home, warranty deed, grant deed
warranty deed, grant deed, joint tenants: It depends on how you want to hold title, Loretta, but it is very simple to change title from husband to husband and wife. Husband can sign a warranty deed (or grant deed, depending on the state you re in) to husband and wife as joint tenants, or as tenants...

Buying or Selling a Home: Getting deed on my name, dads name, warranty deed
dads name, warranty deed, real estate transaction: If you sold the house already, the attorney should have taken care of the title. That s part of his job in handling a real estate transaction. Since you have your dad s power of attorney, you can deed the house to whomever you choose. Check with the attorney...

Buying or Selling a Home: deed stipulations, pound sand, mechanical repairs
pound sand, mechanical repairs, selling a business: This matter should be presented to a REAL ESTATE attorney even though what the seller is requesting is usually part of a condition of buying/selling a business, not real estate. Any conditions in real estate should have to do with real estate, not what is...

Buying or Selling a Home: deed transfer to LLC, doug ingram, warranty deed
doug ingram, warranty deed, deed transfer: Thanks Charlie for the question. I must caution that I am not a CPA and you will want to consult someone in your local area about specific tax laws. That being said what your proposing to do in the above scenario would not work. When you move an asset over...

Buying or Selling a Home: deed, warranty deed, new mortgage
warranty deed, new mortgage, prime responsibility: Yes. But your boyfriend is still prime responsibility for paying the mortgage. He can execute a quit-claim deed naming you to whatever percentage agreed. Or better yet, he can execute a warranty deed deeding the title to him and you as to however you...

Buying or Selling a Home: deeds, warranty deed, boyfreind
warranty deed, boyfreind, claim deed: You don t mention anything about whose name is on the mortgage, Cheryl. I am going to assume both your names are on the mortgage as well as the title. You both have to realize if that house goes into foreclosure, both your credit records will be ruined...

Buying or Selling a Home: defaulting on closing, morgage company, small claims court
morgage company, small claims court, s line: Hello Chris and thank you for your question. I am really sorry to hear of your situation. You did not provide what state this is gong on in however as far as what you have disclosed, you have nothing wrong. I presuem you sold the house with a Property...

Buying or Selling a Home: defective house, termite infestations, john mckenna
termite infestations, john mckenna, wood destroying insects: It sounds like your problems are related to moisture. Moisture is conducive to fungi-mold, decay and wood destroying insects. You must find and repair the cause of any moisture problems ASAP. If the moisture in the floor is coming from improper venting...

Buying or Selling a Home: delaware, land lease, associate broker
land lease, associate broker, real estate agents: Hi Christine, So sorry to hear your dilemma. I, unfortunately, am not licensed in Delaware but I know a couple of Real Estate Agents down there that I could get for you. Let me know if you would like the information. Just let me know what town you are in....

Buying or Selling a Home: delinquent tax property, tax auction, delinquent tax sale
tax auction, delinquent tax sale, delinquent tax property: Jermaine, I do not give legal advice over the internet and have no idea where you live. Generally, there is a payback period when a purchaser buys property through a tax auction of 3 to 7 years depending on the location. If that time has expired, you...

Buying or Selling a Home: deposit, termite inspection report, termite problems
termite inspection report, termite problems, termite report: Hi Jing, I can understand how you could come to the decision to not buy a house with extensive termite damage, even if the seller has agreed to fix it. There is no deadline (unless there is one in the purchase contract) so in a case like this it would come...

Buying or Selling a Home: getting deposit back from builder, sales person, purchase agreement
sales person, purchase agreement, last spring: In almost every purchase agreement, Kathy, is a contingency that says if the buyer does not qualify for the loan, then the buyer may back out without penalty. Soooooo. If it turns out you don t qualify, maybe your job is no longer there, or maybe you have...

Buying or Selling a Home: deposit dispute when buying a home, tennets, recipts
tennets, recipts, deposit money: Hi Mike, Thank you for your question. It sounds like you already closed and own the property. And since there is a dispute about the tenants deposit money and last month rent the seller s attorney is holding an amount equal to that in escrow pending...

Buying or Selling a Home: can my deposit be returned?, target date, s real estate
target date, s real estate, legal direction: Dear Mary: Sorry you are going through this crisis. It should be a happy time rather than causing you discomfort and stress. Good faith deposits like your $1,000 are cashed so that the parties know that it is valid, good, and that the buyer is acting in...

Buying or Selling a Home: deposit, professional inspector, dollar deposit
professional inspector, dollar deposit, pest problems: Read your copy of the purchase agreement. Somewhere on it it says that you have the right to have the property inspected by a professional inspector. If you did not remove that contingency, then that transaction is void and all deposits should be returned....

Buying or Selling a Home: difference between owning a Co-op or a Condo, first time homebuyer, first timer
first time homebuyer, first timer, maintenance charges: Hi Shurba, Thank you for your question. Owning real estate is the American Dream. Your first step should be to get a mortgage preapproval so you know what you can afford to spend. This process will also uncover an credit problems that you have and...

Buying or Selling a Home: difference in value, quality control checks, stringent quality control
quality control checks, stringent quality control, modular home: Dear Raham; I believe you mean modular home. A modular can actually be a better built home than one that is constructed on site. This is because there are stringent quality-control checks in a factory. However, much depends upon the manufacturer and...

Buying or Selling a Home: different mortgages available, fixed rate loans, interest mortgages
fixed rate loans, interest mortgages, year fixed mortgage: Well, some very good questions. Yes there are many types of mortgages. There are fixed rate loans that last for 5,10,15,20,25 and 30 and now even 40 years. Also loans where the interest rate stays fixed for 1, 2, 3 years and then turns into an adjustable...

Buying or Selling a Home: disclosure, residential property disclosure, property disclosure statement
residential property disclosure, property disclosure statement, property disclosure form: Hi Renee, You did not mention whether or not you received any kind of disclosure at all from the previous owner. If you do have a disclosure form and this question was asked, and the seller failed to disclose, you definitely have recourse. I tried to...

Buying or Selling a Home: disclosure, seller disclosure form, deer park texas
seller disclosure form, deer park texas, intentional misrepresentation: Hi Bebe, Sorry to learn of your dilemma, but it sounds like you need legal help. Texas does have a mandatory seller disclosure form, and if the previous owner did not disclose the fact that there was previous flooding, you should contact a good contract/trial...

Buying or Selling a Home: disclosure, state disclosure, legal options
state disclosure, legal options, home tomorrow: Hi Sara, What does your contract read? It may be that you did not ask for the washer, dryer and refrigerator. These items are personal property. The fact that they included them in the disclosure makes things a little grey. Discuss this with your agent...

Buying or Selling a Home: disclosure, state disclosure, legal options
state disclosure, legal options, home tomorrow: Disclosure is everything. Does your contract also say those items are included in the purchase? If it is not in the contract you may be out of luck. But if all docs were signed say they are included, then they are included. You can hold up the closing...

Buying or Selling a Home: disclosure, state disclosure, brian ray
state disclosure, brian ray, legitimate claim: Hello Sara, The seller s actions must be very frustrating for you. I believe this comes down to a legal question that you will need to address with an attorney. From an ethical or moral standpoint, their actions are at least troublesome. Their only legitimate...

Buying or Selling a Home: disclosure, state disclosure, legal options
state disclosure, legal options, home tomorrow: If the items were not included on the agreement of sale then they are excluded and may go with the seller. The office I am with makes the disclosure part of the agreement of sale partially for this reason. I don t believe you have any legal rights to these...

Buying or Selling a Home: disclosure, john mckenna, water in the basement
john mckenna, water in the basement, sewer problems: I would advise consulting a qualified real estate attorney and documenting everything ASAP. It sounds like you may have been taken for a ride. Act quickly. John McKenna, CMI American Home Inspection & Thermal Imaging http://texas-inspection.com ...

Buying or Selling a Home: disclosure, earthquake safety, long beach ca
earthquake safety, long beach ca, realty company: It is a matter of principle that the broker that represented you should have perhaps known about this. On the other hand it is a matter of law that the seller, their agent, and the title company should have caught this. I am not clear on who should have...

Buying or Selling a Home: disclosure, earthquake safety, long beach ca
earthquake safety, long beach ca, realty company: Hello Esther, It is possible that the Realty company and the seller did not fully disclose to you important information that they may be liable for. It also might be an issue that is covered by Title insurance. Ask the attorney. You need to contact an...

Buying or Selling a Home: disclosure, earthquake safety, long beach ca
earthquake safety, long beach ca, realty company: Hi Esther, The question is...who knew about the assessment at the time you purchased the unit. If the seller knew and did not disclose the seller has liability. Was there anything in the HOA documentation regarding any upcoming assessment? It is very...

Buying or Selling a Home: disclosure, earthquake safety, real estate broker
earthquake safety, real estate broker, long beach ca: You not only should go after the real estate company, Esther, but also the Title company. You should have received your share of title insurance upon the purchase of that property (even though you did NOT buy interest in real estate at that time). If I...

Buying or Selling a Home: disclosure, earthquake safety, assessment bond
earthquake safety, assessment bond, todd thornton: Esther, Disclosure laws and statute of limitation laws are state specific so I m afraid I can t answer your question. Even if I did know the law in California, disclosure is generally about what the agent/broker knows or what they should have known. It...

Buying or Selling a Home: disclosure, water damages, small claims court
water damages, small claims court, black mold: Write a letter to the seller (if you know where they now live) and advise them that you are going to fix the water damages in the basement wall and then you will send them a bill for payment. If they ignore it or fail to pay in any way, depending on the amount...

Buying or Selling a Home: disclosure, roof estimates, hail damage
roof estimates, hail damage, decieved: Hi Nick, Yes, you do have a right to request that the seller credit you XXX amount of dollars (get a few roof estimates when you request it)to go towards the repair or replacement of the roof. Also submit a copy of the insurance information that states...

Buying or Selling a Home: disclosure, septic pumps, property condition disclosure
septic pumps, property condition disclosure, bath sinks: Hi James, When you were buying the house did you have an engineering inspection and septic testing? If so, what did the engineer discover about all these things? Depending on the property configuration a septic can surely have more than one tank involved...

Buying or Selling a Home: disclosure form, water seepage, nys department of state new york
water seepage, nys department of state new york, hurricane floyd: Hi Bob, Thank you for your question. I don t know who dropped the ball by not getting you the $500 credit. That is required at the closing by law in New York State. So you should call your attorney about this and try to get the credit from the seller....

Buying or Selling a Home: disclosure information, cancellation provisions, pool plumbing
cancellation provisions, pool plumbing, professional home inspection: Hey, Cheryl. It s going to depend on many things, such as the purchase contract and its inspection and cancellation provisions, as well as what state you are in. It is extremely rare for a layperson to have the requisite knowledge in all aspects of real...

Buying or Selling a Home: disclosure issue, pet stains, plumbing problems
pet stains, plumbing problems, dangerous wiring: Hi Lian, Wow, you do have a predicament. My first question for you is, did you have an agent who was supposed to be representing you? If so, you need to bring your dilemma to that agent s attention immediately. I did an online search, and I found that...

Buying or Selling a Home: disclosure question, intentional misrepresentation, roof colors
intentional misrepresentation, roof colors, states real estate: Hi Edward, Not knowing all the facts of your situation, I will make some comments below. Keep in mind that I am not qualified to give legal advice, and any of my comments below are from my experiences only. I would strongly recommend that you consult...

Buying or Selling a Home: disclosure/responsible party, public sewer system, septic company
public sewer system, septic company, concrete slab: Regina, The Seller, Seller’s agent (along with the company she works for), and also the closing attorney could have caught this mistake prior to closing. Closing attorneys in my state will generally pro-rate sewer and water charges at closing; I am assuming...

Buying or Selling a Home: disclosure statement, certified home inspector, many different ways
certified home inspector, many different ways, legal recourse: Sorry to hear about your roof problems. Some of your statements are a little too general to really know what to answer. What exactly was disclosed about the roof repairs? Was it a small tap patch that would not be visible or a major repair? Just because...

Buying or Selling a Home: disclosure statement, laminate flooring, disclosure statement
laminate flooring, disclosure statement, den area: Unfortunately in our litigious society, anyone can sue for anything. I hope they signed the form that said they were foregoing the inspection. check that first. Ask the Realtor for all copies of the forms that the buyer was provided. Did she check the box...

Buying or Selling a Home: disclosure statement, real estate lawyer, disclosure statement
real estate lawyer, disclosure statement, government offices: Dear Mr. Steve: For what I know you have quite a bit of time, like a year, maybe even more, up to say 2 years (I am in California and it could be different where you are). Check with your Real Estate government offices. The longer you wait the less chances...

Buying or Selling a Home: disclosure statements, small claims court, disclosure statements
small claims court, disclosure statements, rain fall: Absolutely not, Randal. There is no more buyer-beware. Virtually every state in the union has laws protecting the buyers from unscrupulous sellers. I would contact the seller and ask him to pay for correction of that problem since he knew about it and...

Buying or Selling a Home: disclosure of transactions, real estate transactions, public consumption
real estate transactions, public consumption, joe tom: Hello Joe, It s still the same reason. The government is supposed to be accountable which is the reason for disclosure. This principle remains regardless of other decisions. The best person to answer a legal quesiton like this is an attorney. I have...

Buying or Selling a Home: disclosure, basement renovation, electrical permits
basement renovation, electrical permits, full disclosure: Dear Scott: Yes! Simply state that the basement renovation has no permits. Do you even say if it is or is not to code. You have no proof. And, yesterday s code may not be today s code, and if the new buyer wishes permits it would have to be retrofitted...

Buying or Selling a Home: disclosures, real estate commissions, buyer sign
real estate commissions, buyer sign, disclosure statement: Hi Milt, Yes, you are always required to use a disclosure statement, even if the home is being sold as is, where is. You still need to fill out completely whatever form is required by your state and local real estate commissions and have the buyer sign...

Buying or Selling a Home: disclosures/problems, water leakage in basement, small claims court
water leakage in basement, small claims court, bathroom plumbing: Hi Morgan, Sorry to hear that you have had a problem with water leakage. Without having seen your Contract of Sale, I can only offer general suggestions that may or may not be of help to you. I would suggest contacting the Seller immediately (or his...

Buying or Selling a Home: disclosures, legal recourse, compensation for damages
legal recourse, compensation for damages, electrical problems: Hello Niccole, You should get copies of the disclosures from your Realtor or from your attorney if you can not find them. You should contact an attorney right away to seek compensation for damages the resulted from the misrepesentation of the sellers....

Buying or Selling a Home: discounts?, county recorders office, bargain properties
county recorders office, bargain properties, estate bargains: Hi, Thank you for your questions. I will try my best to address the issues you ve noted. Should you need further information regarding this subject, please email me directly: rmijares@valueinflow.com. There are several ways to find real estate bargains....

Buying or Selling a Home: discounts?, depressed market, luxury home
depressed market, luxury home, bernstein: Dear Jason, When you find out where to get properties 75% lower than fair market value please let me know. I have been involved in real estate for over 30 years and have found that properties sell for what they are worth in whatever market you are in at...

Buying or Selling a Home: discounts?, luxury home, property values
luxury home, property values, luxury homes: Hello Jason, You can talk to a Realtor to help you look and asses values in the area of the home. You can look up foreclosure lists from HUD to County Records to Bank Listings. Not many people have luxury homes with 75% equity that they will just...

Buying or Selling a Home: discounts?, jessica bryan, luxury home
jessica bryan, luxury home, disrepair: Dear Jason; If I understand this correctly, you are looking for something that would be impossible to find. A home that is valued at say $500,000 would have to sell for $125,000 and I daresay it would go to real estate agents, bankers or other people at...

Buying or Selling a Home: discounts?, desperate sellers, s market
desperate sellers, s market, good shape: Dear Jason: The best deals are usually found out of the regular sales market: in auctions, foreclosures, etc. The problem is that you need to have lots of cash. You may be asked to put say 15% of the price of the property almost as soon as you win a bid...

Buying or Selling a Home: discounts?, luxury home, buyers agent
luxury home, buyers agent, foreclosure: Good morning! I first have to ask how you know this house is 75% below fair market value? Is this house in foreclosure? As a buyer I would get yourself an agent. Buyers agent do not charge a fee. (meaning, they are free to you) The agent can look at property...

Buying or Selling a Home: discounts?, buying houses, substantial discounts
buying houses, substantial discounts, luxury home: I doubt if you are willing to work for it like you should. And you DO HAVE TO WORK FOR IT. You have to become VERY familiar with the home values in the area you are interested. You have to make offers on houses knowing that nine out of ten will turn you down,...

Buying or Selling a Home: discounts?, target area, flipping houses
target area, flipping houses, discount house: Hi Jason, Thank you for your question. Buy low, sell high is the goal with any investment. If you can buy a property under market value, live in it for some years, then seel it for a profit, then you make a lot of money. Plus, if you live in it at least two...

Buying or Selling a Home: discounts?, tv advertisments, john hall
tv advertisments, john hall, luxury home: Jason: What you are looking for - real estate at a 75% does not exist except maybe in books and on TV advertisments. If your are looking to buy property at a discount you need to do your homework. You need to learn the going market price of property,...

Buying or Selling a Home: discounts?, toxic waste dump, multiple listing service
toxic waste dump, multiple listing service, risk factor: HI Jason, Thank you for your question. In my opinion real estate that is on the market available for sale through a multiple listing service will always be at fair market value. The only opportunities you might have to buy real estate at a discounted...

Buying or Selling a Home: discounts?, best possible deal, substantial decrease
best possible deal, substantial decrease, s market: Jason, it s true that in most areas, it is a buyer s market. That being said, I ve never seen a 75% discount. You can reasonably expect up to 25%, but every case will differ depending on the seller s motivation to sell. To get the best possible deal,...

Buying or Selling a Home: discounts?, luxury home, investors
luxury home, investors, real estate: Hi Jason, Thanks for the question. I have never heard of houses being sold at a 75% discount. They would never have to be discounted that much. There would always be investors who would be willing to buy them at a much lower discount. (10% to 20% off, etc)...

Buying or Selling a Home: discounts?, bank owned properties, escrow costs
bank owned properties, escrow costs, hud properties: Hi Jason, Well, let me answer each of your questions one by one below. You asked how do you find real estate at deep discounts? You could sign up at foreclosure websites and see people who are behind on their mortgages and possible scoop up a few properties...

Buying or Selling a Home: discounts?, desperate sellers, state mortgage
desperate sellers, state mortgage, president state: I am also interested in buying property that is 75% less than fair market value. If I could find that I would buy it and immediately put it on the market at fair market value and make a ton of money. The only way to find properties that are under fair...

Buying or Selling a Home: discounts?, asset management department, ginny mae
asset management department, ginny mae, secondary lenders: Dear Jason, The market has recently changed dramatically, and I predict that in the very near future there will be many houses available that will meet your criteria. Foreclosures are your best bet. Don t pay for online memberships to foreclosure websites...

Buying or Selling a Home: discounts?, doug ingram, realquest
doug ingram, realquest, term appreciation: Thank you for your question. To understand value you will need to rely upon a combination of recent comparable sales in the area which can be found through services like domania.com or realquest.com and basic research about the area you are buying in and factors...

Buying or Selling a Home: discounts?, foreclosure homes, estate deals
foreclosure homes, estate deals, national averages: First you may want to re-evaluate your expectations. It will be nearly impossible to buy anything 75% below market value. However, a good way to buy property below market value is to search For Sale By Owners , FSBOs. On the average, nationwide scale,...

Buying or Selling a Home: discrimination, department of regulatory agencies, detective work
department of regulatory agencies, detective work, internet thanks: Thanks for the good question. You first need to establish if discrimination did indeed exist. A properties status can change quickly. At the time you asked you re agent to see the property the home may have been under contract. If you do some detective...

Buying or Selling a Home: dispersment of funds in closing, termite report, realestate agent
termite report, realestate agent, demand answers: Hi Barbara, Wow! What a dilemma. Events like this should never happen. When was the termite report issued, and why was this not cleared up at the closing table? Reputable attorneys know better than to allow parties to close on a transaction with unresolved...

Buying or Selling a Home: dispute "change order" closing charge, offer to purchase agreement, certified mail
offer to purchase agreement, certified mail, local customs: Matthew, Sorry for the delay in my response. My original response apparently didn t make it through. I d check with an attorney, because I m not an attorney, but the answer to your question should depend on what your orignal offer to purchase agreement...

Buying or Selling a Home: divorce selling house with ex-husband, installment note, divoce
installment note, divoce, mortage: Hello Pat and thank you for your question. This question should really be posed to one of our attorneys here at ALL EXPERTS. You left our some important elements so when you send out your question be sure to include the following. What state will this...

Buying or Selling a Home: documentation needed to sell co-op, dear james, application package
dear james, application package, management company: Dear James, Thank you for your question. The most important papers you need are the Offering Plan & By Laws plus the last two years of financial statements. These will need to be delivered to the buyers attorney for review with the contract of sale....

Buying or Selling a Home: dom, service realtor, sharing your expertise
service realtor, sharing your expertise: Most listing services do not post the List Date. Even as an agent I can t access this information for other agents listings in my area. There are a few tricks, however. If you have an experienced agent, they can usually tell how long a home has been on...

Buying or Selling a Home: I don't mean to be a pest..., time restraints, owner finance
time restraints, owner finance, downpayment: Most people who owner finance, want a good credit report and a large down payment. If you don t have those, it is hard to get into a house. The best thing is to go to a lender who does sub-prime lending, have them check you out and tell you what you need to...

Buying or Selling a Home: dont know what i can do ..., fly in the ointment, girlfreind
fly in the ointment, girlfreind, former girlfriend: Ordinarily, all you d have to do was to engage a real estate attorney to file a suit for PARTITION. But you have the former girlfriend in there and she is the fly in the ointment. And at free rent? Does your cousin and you share paying the mortgage each...

Buying or Selling a Home: Can I drop my real estate agent at any time?, real estate commissions, specified time period
real estate commissions, specified time period, todd thornton: Gloria, You should have signed a contract for a specified time period in which the agent would attempt to sell your home. If you didn t sign a listing contract, most likely you have no obligation to retain the agent as most real estate contracts have to...

Buying or Selling a Home: dropping real estate agent, s broker, contract period
s broker, contract period, month and a half: Dear Gloria, You have to look at the contract signed and how long the listing is for. If you signed an exclusive listing contract (most likely)you owe her commission if the property is sold anytime during the contract period. My recommendation is that you...

Buying or Selling a Home: duplex, bathroom appliances, dear red
bathroom appliances, dear red, estate question: Dear Red, This is less a real estate question than an agreement of whatever you and your friend decide. If you were not going to share everything equally it should have been worked out when you first purchased the property and entered into the agreement....

Buying or Selling a Home: duplex, seperate utilities, parcel identification number
seperate utilities, parcel identification number, condo conversion: Hello Sheila, Since it is one PIN, you will attempt a condo conversion. You are taking a building with one pin and making it have multiple pins. You will need to verify that the city will allow you to make two pins out of it. There could be restrictions...

Buying or Selling a Home: duplex, bathroom appliances, maintenance expenses
bathroom appliances, maintenance expenses, mortgage payment: Hello Red, It would be easy to split everything down the middle if you didn t live there and had if for an investment. Since you both live there the odds that you both want to sell at the same time is very unlikely. There are many ways to split it. But...

Buying or Selling a Home: EARNEST MONEY NOT BEING RELEASED, perspective buyer, small claims court
perspective buyer, small claims court, storage fees: I got a better idea, Emory. Have her give you the entire $1,000 deposit and then sign a release to her allowing her to claim whatever she wants from the seller of the other house. She is going to have you sign a release anyway before she gives you a dime....

Buying or Selling a Home: Earnest Deposit refund, poor customer service, question pool
poor customer service, question pool, poor construction: I found your question in the question pool and I may be able to help you. Well this is hard to answer. You will need to read and review your contract. That contract is a legal binding contract, and it depends on what it says. You may want to see if there...

Buying or Selling a Home: Earnest Depost, mediation clauses, arbitration and mediation
mediation clauses, arbitration and mediation, shea homes: Hi Kenneth, Do you have copies of the documents you signed? I m very familiar with the purchase agreement, however I d like to know the wording in the receipt of deposit , which I have never heard of before. I m not sure why they would have you sign something...

Buying or Selling a Home: Earnest Money, landmark mortgage, coastal mortgage
landmark mortgage, coastal mortgage, fha loan: There are a 1000 ways to get out of a contract, Becky. Somewhere in your contract with her there is a clause that says that the purchase is subject to her being approved and funding the loan to buy the property. Since she was not approved, nor was she able...

Buying or Selling a Home: Earnest Money, two inch gap, privacy fencing
two inch gap, privacy fencing, privacy fence: Mike, Thanks for the additional information. Since you never received a copy of the covenants, I would think …and hope … that all your earnest money will be refunded if you are not allowed to put up the type privacy fencing you were told you could. ...

Buying or Selling a Home: Earnest Money, earnest money deposit, buyers remorse
earnest money deposit, buyers remorse, contract agreement: Dear Kimberly; You didn t say if the Sellers agreed and signed the contract. If they did then you are under contract and must now fulfill all of the terms of the contract. However, if the earnest money deposit was for the purpose of submitting the offer...

Buying or Selling a Home: Earnest Money, brick arch, contingency basis
brick arch, contingency basis, back porch: Dear Sandra: This ia basically a legal question, and I am not allowed to practice law without a license . However, the cost of seeing an attorney might be in excess of the deposit money and if you do not prevail, you may have to pay the attorney in addition...

Buying or Selling a Home: Getting Our Earnest Money Back, real estate contract, one million dollars
real estate contract, one million dollars, offer and compromise: Hello Dr. Linda and thank you for your question. While I am unaware of the laws concerning real estate in Georgia, It sure sounds to me as though the Seller knowingly committed fraud in misrepresenting their ability to produce clear title to the property....

Buying or Selling a Home: Earnest Money REfund, money refund, dear pete
money refund, dear pete, preapproval letter: Dear Pete: Without seeing your contract, I cannot give a strong statement. Also, it may be a legal matter, so I also cannot give you legal advice. What I will say, however, is that I do not think you were well represented. I agree that five hundred dollars...

Buying or Selling a Home: Earnest Money, addendums, mortgage payments
addendums, mortgage payments, mortgage payment: Dear Michael: I see no real actual damages other than emotionally. To go further, you should consult a real estate attorney. I am now worried, though, as to why you now want to start cancelling on an innocent Buyer who is in good faith purchasing your property?!?...

Buying or Selling a Home: Earnest money - buyer died before contract, earnest money, trust account
earnest money, trust account, rental agreement: This is a case for SUPER ATTORNEY. But seriously, Jason, this is something that should be handled by an estate attorney. That deposit your brother-in-law gave as part of a purchase is NOT the seller s until the property closes. It is still part of your...

Buying or Selling a Home: Earnest money when buyer pulls out of contract, contract question, breach of contract
contract question, breach of contract, loan agent: Hi Diane The contingency removal form would have been generated by your agent for the Buyers to sign. If you look in your purchase agreement, there is a section that discusses time periods. If the contract was left standard it gave the Buyers 17 days...

Buying or Selling a Home: Earnest money in California, pre approval letter, calification
pre approval letter, calification, qualification letter: Dear Justine: You seem to have had back luck and an inexperienced agent. Although the buyer has legal time limits in which to back out during the contingency periods, there are ways to make that harder. For example, in order for an offer to be presented...

Buying or Selling a Home: Earnest money dispute, earnest money deposit, small claims court
earnest money deposit, small claims court, money dispute: You can t have it both ways, Jessica. You either go to small claims court to retrieve your earnest money deposit and go look for another house. Or, you go engage a REAL ESTATE attorney to sue for specific performance. If you and the seller initialed the...

Buying or Selling a Home: Earnest money question......., money question, realty office
money question, realty office, money check: The earnest money check is usually made out to the escrow or title company that will be handling the transaction. If it is made out to the realty office, it is made out to that office s TRUST ACCOUNT. They, in turn, will submit it to the escrow or title company...

Buying or Selling a Home: Earnest money refund, poor customer service, money refund
poor customer service, money refund, poor construction: In real estate, Sebastian, never, never, never sign a contract, especially a builder s contract without having YOUR real estate attorney to read it and explain everything to you. As you can see by now, whatever fees you would have paid the attorney is worth...

Buying or Selling a Home: Earnest money, escrow period, earnest money
escrow period, earnest money, headaches: Hi Michelle, Is it legal? Yes. Is it ethical? Probably not. There s the problem. It may have been a rotten thing to do but there also may be nothing you can do about it. There are many ways for a buyer or a seller to cancel a contract during the escrow...

Buying or Selling a Home: Ease of adding an add'l home, kent county delaware, county planning board
kent county delaware, county planning board, tax ramifications: Denise, thank you for your question. I am terribly sorry but your answers require someone licensed to provide these answers as both have legal and tax ramifications which I am not permitted discuss. First I would consult your current tax preparor to...

Buying or Selling a Home: Easements, local governments, easement
local governments, easement, easements: Owning the land, Jim. Also, I recommend checking with the proper local government agencies to make sure you are permitted to do what you want to do. In some locations this is akin to making a lot split (off of your neighbor s land, of course) and they may...

Buying or Selling a Home: Economy effecting selling of houses, market swing, rehabbing houses
market swing, rehabbing houses, apreciation: Hello Sallie, From all the various economic forecasts I have heard about, professionals expect a slowdown in a still robust market. Certain areas with exceptionally high apreciation will have the highest chance of market swing and lower apreciation (Bubble...

Buying or Selling a Home: Economy effecting selling of houses, rehabbing houses, mortgage programs
rehabbing houses, mortgage programs, thanks in advance: Hi and thank you for your question! In my opinion I believe that factors such as gas will not effect the buying and selling market. (even in a time when we are sending men and women overseas, the housing market still increases) The only decrease I can imagine...

Buying or Selling a Home: Elderly Rights, elderly rights, old mama
elderly rights, old mama, eviction process: I will try to help, but like you said, I am not an attorney and this question is legal in nature. I cannot guarantee this answer, but from what I understand the only time you can t evict someone is if you are their legal guardian. Every state does the...

Buying or Selling a Home: Encroachment, neighbor permission, adverse possession
neighbor permission, adverse possession, public entities: Bonnie, There is a provision in the law called Adverse Possession which basically states that if a person uses another’s property by a hostile action, openly (meaning for all persons to see), exclusively, without permission, and for a continuous period...

Buying or Selling a Home: Entryway Improvements to Sell a Home, wrought iron balustrades, bedroom bungalow
wrought iron balustrades, bedroom bungalow, class neighborhood: Hi Ellen; Well you have me at a disadvantage not being able to see the house but with your excellent descriptions I think I can picture what you have now and what you want to achieve. The front door will be the best improvement since it will not only affect...

Buying or Selling a Home: Equity or not......., realtor fees, unfortunatley
realtor fees, unfortunatley, 529k: Hi Jen, You want to make sure you can afford your new home VA loan or otherwise. After you sell your current home, your best bet will be to sit down with a local loan officer and talk about your options. VA loans aren t always the answer, sometimes conventional...

Buying or Selling a Home: Equity, zillow, mortgage payments
zillow, mortgage payments, friedman: Dee, You can pay and have an appraisal done to determine the base value and equity, however, if you live in the U.S. it is likely the house has not appreciated in value. You can also determine how much of the payments went to pay off the principal...

Buying or Selling a Home: Equity Share or similar arrangement, propert tax, sf bay area
propert tax, sf bay area, equity share: First of all, Jason, your MI-L has to be on title with you if she is to be considered for any kind of tax deductions. I presume you will take care of that. The IRS will not allow any deductions for her if she is not on title. Since your MI-L does not occupy...

Buying or Selling a Home: Equity whoas......, realtor fees, 529k
realtor fees, 529k, couple questions: Hey, Jen. If you sell the house, then both loans will be paid off with the proceeds from the sale. That s just the way the system works. However, if you re current on your payments, and have good credit, you might be able to do 100% financing on the new...

Buying or Selling a Home: Errant listing, lengthy reply, home inspection
lengthy reply, home inspection, ramifications: Have you had your home inspection or did you just describe the home to the inspector? If you have not had a home inspection and there is a contingency in the agreement for one, it may not pass the inspection. Therefor, you could go back to the seller with...

Buying or Selling a Home: Escrow, loan escrow, escrow account
loan escrow, escrow account, escrow fee: Escrow is the process, not a fee. When you purchase a home, you go into escrow. That process is when your contract to purchase is accumulated with your loan documents, and inspections and certifications, the appraisal, and title documents are collected to...

Buying or Selling a Home: Ethics and law Question, law question, realitor
law question, realitor, code of ethics: Based on how you explained it, Michael, YOU BET there was something against the code of ethics! The listing agent MUST have disclosed that there is/was another offer, but they were continuing to show the property and soliciting offers subject to that first...

Buying or Selling a Home: Ethics and legal, reo specialist, hello bill
reo specialist, hello bill, prequal: Hello Bill, If you can prove that the Agent did not present your offer, yes, you may have a case. All offers must be presented to the Seller. In PA it is stated in the agreement of sale that until an offer is accepted by the seller an Agent must present...

Buying or Selling a Home: Ethics, board of realtors, tennessee board
board of realtors, tennessee board, pool table: Hello Renee and thank you for your question. Wow - what a mess!! Bottom line the Buyers agent failed in their duty; 1) to note the pool table in the items to convey 2) discuss the Home Inpsection with their client prior to writing the offer 3) not...

Buying or Selling a Home: EXCLUSIVE RIGHT TO SELL, divorce attorney, minnesota rules
divorce attorney, minnesota rules, arrangment: In any state, Brian, a listing agreement is not valid without ALL OWNERS signing it. If your name is still on title, then she needs your signature to verify what she has done. If she is a licensed real estate person, then she has to reimburse you for your...

Buying or Selling a Home: Exclusive contracts, mls agent, buyonwer
mls agent, buyonwer, buyowner: Heidi, I cannot provide you with legal advice because I am not licensed to practice law in Florida. However, I suggest you do a few things to help your situation. First, I would contact the Florida Department of Real Estate and submit a complaint that...

Buying or Selling a Home: Exclusive or Multiple RE Listing?, multiple listing service, multiple listings
multiple listing service, multiple listings, lares: They re both the same . . . usually. When you have an exclusive listing with a Realtor, he/she is a member of the multiple listing service. That office submits ALL of their exclusive listings to the MLS to which they are a member. So, automatically when...

Buying or Selling a Home: Exclusive Right to Represent Buyer agreement, buyer agreement, next issue
buyer agreement, next issue, persistence: Dear Laura; You are contractually obligated to that brokerage but can complain that you were not informed of the agency agreement and would like to go elsewhere. (I think that you said you already did that...but do it again! sometimes persistence gets you...

Buying or Selling a Home: Exclusive Right To Sell, northern virginia association, virginia association of realtors
northern virginia association, virginia association of realtors, contract ratification: Hello Joe and thank you for your question. I am dissapointed to hear that the firm you chose to work with did not provide you, as part of their listing presentation, a written, marketing program that details exactly what you get for your money. It...

Buying or Selling a Home: Exclusive Right to sell, waiting in the wings, s market
waiting in the wings, s market, taking a chance: Depends in what state you live, BB. For example, in Georgia the husband may buy and sell without permission from the wife. But in most states BOTH signatures are indeed required for a listing to be valid. You will find, also, BB, that most Realtors will...

Buying or Selling a Home: Getting earnest deposit back, santa clara county california, santa clara county
santa clara county california, santa clara county, black hole: Julia, I had previously answered this question but it may have fallen into some black hole. I suggest you look at your contract and if the contract called for a date in September then the seller is in default and you should be able to cancel and get your...

Buying or Selling a Home: earnest funds, dear jill, california buyers
dear jill, california buyers, getting a loan: Dear Jill, It really depends on what the contract reads. In California buyers can pretty much back out for any reason as long as they do it before they remove their contingencies. If the money has been sitting in escrow they can t release it until both...

Buying or Selling a Home: Getting earnest money back, earnest money deposit, condo seller
earnest money deposit, condo seller, two different things: Hello Krissy and thank you for your question. I am very sorry to hear of your troubles and hope I can provide you an answer that will help you sleep at night. When you wrote your contract with the builder, usually in their contract there is a section...

Buying or Selling a Home: Getting earnest money back, earnest money deposit, ready 1
earnest money deposit, ready 1, question thanks: Hi Mina- Thanks for your nice comments. I m not sure without seeing the contract but I would tell you to go ahead and notify the builder via certified mail that you expect your money back if they cannot deliver the house by the deadline and that you expect...

Buying or Selling a Home: Getting back earnest money, contingency period, better business bureau
contingency period, better business bureau, security improvements: Hi Sasha, Arbitration here in California is approx $1000-$1500 and it s free to let the Department of Real Estate know what s going on. You know, I m kind of a principle of the thing guy, so I would say that I would probably go for arbitration, but you...

Buying or Selling a Home: earnest money - Arizona - Builder's contract - long ;-), santa fe style, foot extension
santa fe style, foot extension, cul de sac: It can be very frustrating trying to resolve a situation from another state. If you have a contact, such as your friend who is an agent, then by all means ask for assistance. With the market being so slow, I doubt they do want to lose your business. The...

Buying or Selling a Home: earnest money/building new house, earnest money, deposit money
earnest money, deposit money, borrowing money: Hello Amanda and thank you for your question. Yes, you are at risk if you do this. Because the market is soft, I m sure the builder is willing to start your house, even with this contingency. I m sure you have picked a home and floorplan he feels that...

Buying or Selling a Home: earnest money and down payment, earnest money deposits, earnest money deposit
earnest money deposits, earnest money deposit, california contracts: I found the information on the homebuying.about.com/od/buyingahome/qt/EarnestMoney.htm. Earnest Money Deposits - Protect Your Good Faith Deposit From Elizabeth Weintraub, Your Guide to Home Buying / Selling. What is an Earnest Money Deposit? Buyers...

Buying or Selling a Home: earnest money, small claims courts, small claims court
small claims courts, small claims court, breach of contract: Pete, You need to talk to a local attorney about your options because everything will hinge on state law and the wording in your contract. I m not an attorney and this is not legal advice, but as a general rule, both parties have to sign the release for...

Buying or Selling a Home: earnestmoney, small claims court, adendum
small claims court, adendum, judge and jury: That agent is obviously new to the game. ALL moneys should be handled by and disbursed by a neutral third party, in most cases an escrow company, or title company or attorney. Period. The agent should not be, as you say, judge and jury. If you have lost...

Buying or Selling a Home: easement and CO, sewer company, foundation survey
sewer company, foundation survey, plot plan: Hi Stephanie, I am assuming you just purchased a NEW home. A title search will not necessarily disclose easements if they are not recorded. Surveys are the instrument that will disclose easements. Since sewer easements are required to be recorded,...

Buying or Selling a Home: easement, implied easement, jessica bryan
implied easement, jessica bryan, permision: Well that depends upon how long they have used the road with your implied permission. After a certain number of years, it becomes an easement simply because you never complained about it and stopped them from using it. You might need to check with a title...

Buying or Selling a Home: easements & right-of-ways, sanitary sewer line, easement
sanitary sewer line, easement, fire hydrant: There is no difference, Ben. In fact, the definition of a right-of-way is an easement over one property owner s land by another property owner, usually for a specific purpose or use and in some cases for a specific period of time. And based on what your deed...

Buying or Selling a Home: What are the easiest mortgages to get?, non conforming loans, matter what type
non conforming loans, matter what type, mortgage broker: Well that statement is an overstatment. All mortgages are easy if you easily qualify for them. No matter what type of mortgage, there are 3 qualifiers no matter what. 1.) Credit- score and what your credit is like good versus not so good. 2.) Debt...

Buying or Selling a Home: what to do with an empty room?, best case scenario, house plants
best case scenario, house plants, table and chairs: Hi Selena, Best case scenario, I would recommend staging this room as a bedroom. If you have an extra bed, you could simply dress it with white sheets and pillows. Or, if you don t have one - maybe someone you know has one in storage or perhaps a crib they...

Buying or Selling a Home: How can I enforce a signed contract?, lame excuse, lis pendens
lame excuse, lis pendens, specific performance: It is called specific performance, Gil. That is what an attorney must do for you. As part of asking for specific performance, he files that lis pendens. However, he usually doesn t do that until he has done some talking with the seller s attorney. Hopefully,...

Buying or Selling a Home: enviromental, dear sir or madam, store tank
dear sir or madam, store tank, soil testing: Hi Angela, Thanks for writing with your questions. I will address them individually. On your question: My main question is how can I prove that the tank(s) were/are not on the property that I am interested in? Since the current owner (a) Is assuring...

Buying or Selling a Home: equiity, washington state kent, zillow
washington state kent, zillow, bubbletracking: I m all the way across the country from you in Maryland so I m not familiar with market conditions in your town, but I was doing some research for you and found a blog where they are discussing your area of Kent, Washington and you may find the information...

Buying or Selling a Home: escrow, john hall, problem thanks
john hall, problem thanks, thanks john: Alexis: If you were to get a refund, then the check should have come to you. You need to check with the escropw closing statement and see where the $4000 went. If you are still not sure you need to talk with the manager of the escrow company, and/or...

Buying or Selling a Home: est taxes to be paid on sale of a condo, blessed day, closing costs
blessed day, closing costs, irs: Ok, in Maryland I am afraid I am not aware of all the charges a seller needs to pay as part of their settlement transaction. Even if you called in the contract for the buyer to cover all settlement charges, there may still be some that you as the seller are...

Buying or Selling a Home: How to establish a good Flip team, time home buyers, first time home buyers
time home buyers, first time home buyers, team thanks: Hi Mellody, You can follow the trends by reading financial journals, like Money.com, money.cnn.com, efinancialnews.com, etc. Regarding the loan. Your lender will only allow you to borrow as much as you can afford. Only a dishonest lender would put you into...

Buying or Selling a Home: estate home sale, mortgage balance, fair deal
mortgage balance, fair deal, bernstein: Dear James, I thought you were buying your sister out. That would include taking over the loan and turning ownership of the house over to you. If your sister still wants responsibility for the loan without any other ownership of the house that is up...

Buying or Selling a Home: how to evict a co ower after giving a judgement to sale property, clerk of the court, ower
clerk of the court, ower, judgement: Since this more of a legal problem than a real estate problem, I suggest you ask an attorney your question. You might be able to ask the clerk of the court in which you won the judgment. They may tell you what you must do or they may tell you to talk to an...

Buying or Selling a Home: evicting tenants, evicting tenants, eviction process
evicting tenants, eviction process, legal channels: Hello Harry and thank you for your question. I m sorry to hear of your Mother s plight and do not have good news that her tribulations will end soon. Bottom line is that she may need to contact an attorney in the area to assist her. The tenants more...

Buying or Selling a Home: eviction, hello spring, rental contract
hello spring, rental contract, buying a house: Hello Spring, If the renters do not have a current rental contract in force, then you will start by talking to them and finding out what their plans are. Talk to your seller and see if you can get them to handle this. Definitely your attorney can try to...

Buying or Selling a Home: existing mortgage/construction loan, permanent mortgage, original mortgage
permanent mortgage, original mortgage, equity position: Hi Cynthia, You will still owe the amount due on the original mortgage. But you may be able to get a construction loan that pays off that mortgage and can then be rolled into a new permanent mortgage for a newly built home IF you have enough of an equity...

Buying or Selling a Home: extended home warranty offers, electrical plumbing, home warranty
electrical plumbing, home warranty, extended warranty: Hello Mike, I m sure your builder has more than one year warrantee on structural, electrical, plumbing and other major components of the home. Unless you think there is something about your home that might need repair, I probably wouldn t do it. Of course...

Buying or Selling a Home: extended home warranty offers, professional inspector, home warranty
professional inspector, home warranty, apce: OK. In general they are not worth buying in my opinion. There is too much language and too many exclusions as to why something would or would not be covered. I do not buy warranties on electronics and I would likely not buy one on a home. They are just...

Buying or Selling a Home: extended home warranty's, appliance warranties, heating and air conditioning
appliance warranties, heating and air conditioning, home warranty: Most, or at least many, are likely rip offs. You d have to see exactly what they cover, or, more importantly, what they exclude, and then what their deductible is and what the limits are. There are many types, including appliance warranties which typically...

Buying or Selling a Home: extended home warranty's, home warranty, extended warranty
home warranty, extended warranty, heat air: Mike, Is this warranty on things like appliances, Heat/Air? If so and it costs about $300 this is unnecessary for a new home which is unlikely to have anything go wrong for many years. If it is a structural warranty, I would have to know more about it. Judi...

Buying or Selling a Home: extended home warranty's, warranty inspections, builders warranty
warranty inspections, builders warranty, wallet card: Hi Mike, They are only rip offs if you pick the wrong Inspection Company. My company routinely performs 1 year end of builders warranty inspections. You ll want to make sure that the inspector you pick is code certified for the area that you re in. Many...

Buying or Selling a Home: extended home warranty, best buy store, extended warrantee
best buy store, extended warrantee, home warranty: Mike, I ask the same thing when I am at a Best Buy store or similar store. Do you want an extended warrantee? In most cases, no. Much of this is a matter of how secure you feel. It s a form of insurance, Mike. If something breaks down and insurance...

Buying or Selling a Home: Facilitator instead of seller or buyer agent. Dual agency?, residential property disclosure, tennessee real estate commission
residential property disclosure, tennessee real estate commission, disclosure act: Hi Virginia, I am quoting below language from the Tennessee Real Estate Commission site --http://tennessee.gov/commerce/boards/trec/rulesandlaws.html/66/66-5-210.htm -- regarding disclosure on residential property (you can go to this site and view the...

Buying or Selling a Home: Failure to Disclose Remodeling/Additon of a Bldg without Permit, tallahassee fl, additon
tallahassee fl, additon, variance: Hi Esther, Wow, what a dilemma. Sorry to hear of your problem I am assuming from your writing that the previous owner you purchased your property from is the owner who made the changes which never went to a final inspection. If not, then you probably...

Buying or Selling a Home: Failure to Disclose Water Leakage Problem, sara sara, water leakage
sara sara, water leakage, spds: Sara, There are a few things you can do. Look and see if there was a SPDS describing all defects. If there was no mention of a leak, you may have recourse against the previous owner (seller). You also have potential recourse if you paid for a home...

Buying or Selling a Home: Failure to Disclose, physical improvements, resale package
physical improvements, resale package, association documents: Hello Ronda and thank you for your question. While I am not aware of the laws of your state, I will answer your question based upon my Virginia understanding. When a person contracts to purchase a property that is governed either by an HOA or Condo Association,...

Buying or Selling a Home: Failure to disclose/negligence, water treatment company, water treatment system
water treatment company, water treatment system, sellers place: Hi Nancy, Wow! I am so sorry to hear of your dilemma. First of all, I would turn into a combination pit bull/rotweiller breed dog and sink my teeth in very deep. If the house was represented to you as having a functioning well (or one that could easily...

Buying or Selling a Home: Falsifying disclosure statements, hurricane flloyd, floyd flood
hurricane flloyd, floyd flood, intentional misrepresentation: Hi Maureen, So sorry to hear what you have just discovered. The long and short of what you are describing is nothing short of fraud, which is INTENTIONAL misrepresentation. Following is a link to a site that will give you general info on disclosure:...

Buying or Selling a Home: Familly plans to invest 20% on my first home- HELP!, homestead tax deduction, ok credit
homestead tax deduction, ok credit, intrest rates: The first thing I would do would be to go to a real estate attorney and tell him/her exactly what you want and make sure your sister and husband are there, too. You want to make sure that everybody understands what us going down. Don t you dare to try to put...

Buying or Selling a Home: Family Investing in our first home.-very long questions, homestead tax deduction, ok credit
homestead tax deduction, ok credit, intrest rates: Thanks Anne for your question and congratulations on this new chapter in your family s life. Your question is a bit of a tough one. On questions (1) - If your sister is going to be carrying the mortgage then she will be entitled to the associated tax deductions...

Buying or Selling a Home: Family Owned Home, death mother, luck jim
death mother, luck jim, confusing situation: Kristen--yes, this is a sticky one Your Mom needs to connect with an Attorney who specializes in Estate Matters and/or Real Estate Issues and get his/her legal advice/opinion on this scenario! Without a will, Estates that have any assets, such as a...

Buying or Selling a Home: Family Trust, family trust, dependents
family trust, dependents, aol: Yes, Walt, a trust is set up just as you choose. With the names of the trustees and their successors. There is no point in my going over it. You should go talk to an estate attorney that will form a family trust for you. This is the ONLY way it should be done...

Buying or Selling a Home: Family Trust, rights of survivorship, family trust
rights of survivorship, family trust, joint tenants: not only will the trust protect the house but how the title is held will be important; joint tenants and tenants in common. joint tenancy is for rights of survivorship. if there is a guaranteed way to pay the taxes and the house is debt free, you can...

Buying or Selling a Home: Faulty plumbing in home purchase, faulty plumbing, small claims court
faulty plumbing, small claims court, laundry room: Hi Rhonda, I am guessing that your sister had an ispection done during the escrow process. Did the inspector pick up on any plumbing issues. If this was an ongoing issue with the sellers it should certainly have been a disclosure issue. If your sister...

Buying or Selling a Home: Fences, privacy fencing, wood planks
privacy fencing, wood planks, wood fencing: Hi Scharlene, While privacy fencing might add “some” value to a home, it will certainly add security and privacy as you pointed out. Not knowing (1) The area your home is in, (2) what comparable homes in your neighborhood might have in the way of privacy...