About Experts Sitemap - Group 8 - Page 4 2014-11-11

Buying or Selling a Home: buyer, states real estate, real estate commission
states real estate, real estate commission, counter offers: Otis, If the asking price was $34,900 and you offered $40,900 with $3,000 to be deducted from that for your closing costs, that leaves a balance of $37,900 – which is $3,000 OVER the asking price. Granted, there may be some additional commission and other...

Buying or Selling a Home: buying a home, professional negotiator, leaky roof
professional negotiator, leaky roof, purchase transaction: Hey, Tony. Unfortunately, the person who is responsible for it is whomever chooses to be responsible for it. If the Seller chooses to be responsible, then he will fix it, have it fixed, or provide the Buyer with a lower price or escrow credits. If...

Buying or Selling a Home: Cancellation of escro, escro, contractual conditions
escro, contractual conditions, addendum: Hello Rhonda....here in Calif., you can cancel escrow anytime before escrow closes. You don t need to even say why....it s your escrow. Call the escrow office and tell them you want your $$ back....too bad for the sellers and agent...they sound suspicious...

Buying or Selling a Home: Capital Gains Tax, capital gains exclusion, capital gains tax
capital gains exclusion, capital gains tax, escrow agent: Hi Jeff. For the answer to the first question you will need to consult a real estate attorney or escrow agent - that is out of my field of expertise. As far as capital gains go, you have to be living in the house full-time (not renting it out) for at...

Buying or Selling a Home: Cert. of Occupancy questions, buying a fixer, money
buying a fixer, money, contractors: HI Mary, ... Whoa, that s just too much damage for us to undertake...we need to walk away...right? Yes.. that is the beauty of a physical inspection contingency... buys you time and gives you an out without jeopardizing your deposits... When you purchase...

Buying or Selling a Home: Changing the name on a title deed, right of survivorship, father names
right of survivorship, father names, wifes name: Dear Jeff; Thank you for your question… In regards to gifting you the house, there could very well possibly a State and Federal tax on that type of situation. On the other hand, if your wives mother would be allowed to be quit claimed onto the property...

Buying or Selling a Home: Changing the name on a title deed, father names, wifes name
father names, wifes name, title deed: Jeff, All tax questions have to be referred to an accountant or attorney as a real estate agent is not qualified to answer. Your wife s mother can quit claim the house to your wife. This can easily be done through an escrow company or attorney and you...

Buying or Selling a Home: Contingency sell, financial worries, purchasing a new home
financial worries, purchasing a new home, nori: Hi Karen, Thank you for your question. It depends on how the contract is written, but you may be obligated to sell. Please consult a real estate attorney. If it ends up that you have to sell, write back again and I will give you some advice on how to approach...

Buying or Selling a Home: Court dictating selling price of home, buying, selling
buying, selling, disclsoure: Hi Mary, You most certainly are not wrong in questioning things... you are getting ready to purchase the most expensive item you may ever buy... nothing wrong in asking... sometimes it is in the delivery and the staging of the question.... keep in mind...

Buying or Selling a Home: cleanouts, real estate foreclosure, outrageous salary
real estate foreclosure, outrageous salary, economic climate: Hey, Michele. When it comes to starting a business, and paying yourself, you have a lot of flexibility, but the person to help you with this in your specific state (and I don t know what state you re in) is a talented CPA. That CPA will be worth every penny...

Buying or Selling a Home: deed/promissory note, luck jim, local court
luck jim, local court, state bar association: JO ANN-- STEP ONE: Get a Lawyer! If you had the Contract written by one, he/she needs to help you out here! If no Lawyer was involved in the Contract between you & your Buyer,get one quickly. STEP TWO: Can t afford a Lawyer? Call the LOCAL LEGAL ASSISTANCE...

Buying or Selling a Home: How can I get my deposit back from escrow company?, escrow officer, jessica bryan
escrow officer, jessica bryan, appraisal report: Hello; Since you do not qualify for the loan any longer, (and assuming it is not because of something that you did to disqualify yourself) you should be able to get the deposit back. The contract usually includes under what conditions you can obtain a full...

Buying or Selling a Home: earnst deposit, contingencies, failure
contingencies, failure: Hi Addy- Thanks for your question. Can you be more specific? You can possibly withdraw your offer, depending on your contract and/or there are usually some other outs via contingencies. The only sure-fire way to lose it is just plain failure to perform. Hope...

Buying or Selling a Home: Lease Purchase Nightmare, cat and mouse game, memphis tennessee
Buying or Selling a Home: Lease Purchase Nightmare, cat and mouse game, memphis tennessee, single mom

Buying or Selling a Home: Responsibilities of the Closing Attorney, insurance attorney, home buyers
Buying or Selling a Home: Responsibilities of the Closing Attorney, insurance attorney, home buyers, doctors

Buying or Selling a Home: Grant Deed, grant deed, separate property
grant deed, separate property, joint tenants: Lori, You can have the deed changed from joint tenancy to tenants in common or whatever you all feel is best. An agent cannot advise you as to which is the right one for you but it can be easily changed as long as everyone is in agreement. Hope this...

Buying or Selling a Home: House selling get out of contract, attorney assistance, luck jim
attorney assistance, luck jim, breach of contract: PATRICK-- What the Buyer can do to you for Breach of Contract , if anything, as well as your options are limited to the Contract between you and the Buyer of your Home!Without reading and an analyzing the Contract I m without a clue! All I can tell...

Buying or Selling a Home: joint ownership of retaining wall, real estate broker, climbing the wall
real estate broker, climbing the wall, foot level: Believe it or not, Yuki, this is not a real estate question you posed. It is one that you should present to your real estate attorney. The original agreement was created by an attorney and only an attorney can address it or alter it, certainly not a real estate...

Buying or Selling a Home: Lease Purchase Nightmare, lease option, renting
lease option, renting, selling: Hi Tony, I don t know exactly what your contract reads with the seller on the property in question... keep in mind that a lease option, in general will cost more than a straight purchase... you are asking the seller to wait out the selling time frame......

Buying or Selling a Home: Listing agreement, Agency, representation
Agency, representation, client: Hello Denise - The National Association of REALTORS (NAR) Code of Ethics is only enforceable against Members of NAR. First, you must determine if she is a member, and you can determine this by visiting Realtor.com. If she is a member, then it is quite possible...

Buying or Selling a Home: loan officer uses her dad to steal 1/2 comission, N.A.R., Code of Ethics
N.A.R., Code of Ethics, Commission: Hello Greg - I apologize for the delay in my reply. This is a great question! It raises a number of issues... but let me answer the question, then I will discuss the other details. ***** You said This caused the original agent to loose 1/2 the comission to...

Buying or Selling a Home: Marketing in another state, ranch realtor, equine facility
ranch realtor, equine facility, living quarters: Do you have it listed with a Farm & Ranch Realtor? That would be my first choice. There are lots of places to advertise and market horse properties, we always have an ad running in those specific areas and distribute to a cliental that is in that business...

Buying or Selling a Home: making an offer on home, home inspection, realtor
home inspection, realtor, disclosure: I am not sure where you are located, but in our area, the tax value is usually under the actual value of the home. As far as repairs, I hope your REALTOR advised you to get an inspection prior to purchase. Also the Sellers Disclosure should show anything that...

Buying or Selling a Home: mobile home title, title question, finance companies
title question, finance companies, finance company: Chase and the title company carry all the responsibility for this! Escrow should NEVER have been closed until the title was in their possession. In my opinion, you re done...they are all responsible for the aftermath of a poorly handled deal. By the way,...

Buying or Selling a Home: Need a realtor, escape clauses, public open houses
escape clauses, public open houses, gut instinct: Dear Gae: Now is a great time to switch. After a year, you probably need a change. Unless, of course, you have been ignoring your present realtor s suggestions about staging for showing, reducing the price to be the best on the market not just in competition,...

Buying or Selling a Home: new to home buying, first time buyer, buying
first time buyer, buying, selling: Hi Pan, 1. Your best to find out exactly how much mortgage you can afford is to speak with a mortgage broker in your area. You have a good down payment, but your income is slight… so you really need to see a professional to get your numbers put to paper...

Buying or Selling a Home: Property Ownership, person by name, county recorder
person by name, county recorder, property ownership: There are at least a couple of ways, Emmett. First, you can call up a Title Company in your area, or drop by their office, and ask them the question. They should not have to charge you for this. They merely look up on their computer screen for the answer....

Buying or Selling a Home: Purchasing Tx. mobile home, no title., mortgage company, bill of sale
mortgage company, bill of sale, private land: This headache is more than you should bear. If she cannot give you a title upon buying the property, walk away. Her attorney who represented her in the divorce should have been able to get her the title along with possession. There is something she is not...

Buying or Selling a Home: problems right before closing, loans, FHA
loans, FHA, buying: Hi Gigi, The bank told you your were approved, but I would guess that they had stipulations that had to be meet, either from you or the property in order to fund the loan - that is the real approval... if something did not come in the way the bank wanted...

Buying or Selling a Home: Quick Clean (or Claim?) Deed, quiet clains, name transfers
quiet clains, name transfers: Hi Margaret, The paperwork you are looking for is Quiet Claim Deed, it will transfer the title from you to someone else... you are still responsible for the loan if you have on... I believe in the UK you use Lawyers? they should have access to the...

Buying or Selling a Home: Referral for Vista area?, mobile home sales, vista area
mobile home sales, vista area, luck mike: Hi Pam, You should NOT pay a fee to sell your home. Buyers pay all fees! This means escrow, inspections, HCD, the works. It s called a NET listing, and I would insist upon it. Do not use a realtor ...they are not well versed in this type of home sale....might...

Buying or Selling a Home: Refinance Document Changes, good faith estimate, document changes
good faith estimate, document changes, legal expert: If the .5 buy down was on the good faith estimate and you signed it, I believe it was a legitimate error that it didn t end up on the closing documents. It s a little strange that they don t require a notary, and this could be a RESPA violation, you should...

Buying or Selling a Home: Refinance rental to owner-occupied, balloon payment, loan process
balloon payment, loan process, investment property: Hi Steve, good questions. You will have to occupy the property to refi as owner-occupied. You may be able to start the loan process before moving in, but that can be answered by a lender. There really are no potential problems as you state. It is pretty...

Buying or Selling a Home: Reinstating 1st T.D. without Foreclosing On 2nd, foreclosure action, california trust
foreclosure action, california trust, notice of default: If you reeeeeally want to put the seller s mind at ease, then you do this: Execute a grant deed (warranty deed in some states or a quit-claim deed) to him, have it notarized, too. Then give it to him to put in a safe place. He is NOT to record it. If he...

Buying or Selling a Home: Rent to own, hey linda, apparent problem
hey linda, apparent problem, verbal agreement: Hey, Linda. Renting to own is a very complicated process, so if the only document they ve signed is a lease agreement with no provisions for renting to own, they re not renting to own. If you have a verbal agreement for them to rent to own, it may or may...

Buying or Selling a Home: Repair Allowance, mortgage company, half a dozen
mortgage company, half a dozen, paperwork: That is pretty much 6 of one half a dozen of the other. I don t think it hurt your chances any, you have the option of walking away since there seems to be a lot of repairs. Or, you can ask that the repairs be made ahead of time. But giving you the money for...

Buying or Selling a Home: Responsibilities of the Closing Attorney, title insurance company, jessica bryan
title insurance company, jessica bryan, warranty deed: Dear Mike; It is the closing attorney s responsibility to check the information on the warranty deed but it is not their liability if there is a problem. The attorney clearly made an error but since you signed and therefore accepted everything it is your...

Buying or Selling a Home: real estate license, jessica bryan, georgia real estate commission
jessica bryan, georgia real estate commission, real estate license: Dear Debra; I am not sure what the laws are in Georgia but I can say that unless you have a Broker s license you must work for a broker just about anywhere in the U.S. Here in North Carolina all agents are required to be brokers but even then they must have...

Buying or Selling a Home: Selling 2nd home, lease option, rent to own
lease option, rent to own, land contract: Hi Tom - I thought I answered this question a long time ago, but just realized it still showed active in my account, so my sincere apologies if you didn t get the answer which is YES this guy is full of bunk. Agents who don t understand lease options...

Buying or Selling a Home: Selling Before Probate?, probate, selling
probate, selling, attorney: Hi Elizabeth, My condolences on your situation... you will be hard pressed to close without clear title unless the buyer is doing a cash transaction... I would be the noisy clog in the wheel on on the attorney and get an answers you need... If he...

Buying or Selling a Home: Selling part of a jointly owned property, siblings, family members
siblings, family members, dick: As long as you are fee simple owners of your share of the property, you may dispose of it in any fashion you choose. Just make sure the people you sell it to know that what you are conveying to them is only a share of the property. However, I strongly suggest...

Buying or Selling a Home: Selling rental property, control ordinances, foley
control ordinances, foley, rental house: Dear Karen: That question is regulated by the municipality in which the property is located. Call the city hall, and they will be happy to explain what their laws are with reference to what you must do. Some cities have rent control ordinances, and some...

Buying or Selling a Home: Stay or Foreclose, uncommon dilemma, credit card debt
uncommon dilemma, credit card debt, california broker: Yours in not an uncommon dilemma, Becky. As a California broker, I have been helping people to modify their mortgage balances and it might be possible to do the same for you. My experience has been that banks are indeed reluctant to modify the loans for their...

Buying or Selling a Home: Stimulus credit on home purchase- 2008 version vs 2009 version, stimulus package, exact language
stimulus package, exact language, first mortgage: Hi Justin, good question...and we would all like the answer to this one. Unfortunately, until the exact language of this bill is out and we have all had time to read and understand it, I cannot answer that question. My advice to you would be to ask this...

Buying or Selling a Home: Taxes due on real estate sale, capital gains tax, proper advice
capital gains tax, proper advice, real estate sale: First, Susan, you have to establish the value of the property at the time of your mom s passing. Divide that in two. And that is your tax basis. You would then be responsible for any capital gains tax from that point. This is just superficial. I strongly suggest...

Buying or Selling a Home: Terminating Sales Agreement, leasing agents, jessica bryan
leasing agents, jessica bryan, termination of contract: Dear Helen; Unless the agreement states that you cannot take it off the market then you can do so. As for leasing, I would discuss this with the agent and tell them what you are planning to do. Chances are the agent will be fine with it since most residential...

Buying or Selling a Home: no title on mobile home, jessica bryan, dear henry
jessica bryan, dear henry, title company: Dear Henry; If the people didn t have the title on the mobile home find out who does have title and request that they transfer title to you. You may need to consult an attorney or title company for this information. Once you find out who does have title...

Buying or Selling a Home: Unethical selling agent, jessica bryan, board of realtors
jessica bryan, board of realtors, real estate commission: Dear Meghan; I am sorry that you found someone who was so unethical but there are things that can and should be done. First of all you should file a complaint with the local Board of REALTORS and then with State licensing agency: The State Real estate commission....

Buying or Selling a Home: VA Loan, buying home in maryland, home buying
buying home in maryland, home buying, home buying process: Hi Malik, I answered this question a couple days ago and it looks like it did not register in the system - sorry for the delay! Yes, the $2500 is for what is called an earnest money deposit, which shows the seller that you are serious about purchasing...

Buying or Selling a Home: Adverse Possession, signature approval, adverse possession
signature approval, adverse possession, county assessors office: A quit claim deed is signed by a current owner of a home and relinquishes their rights to the home. In that situation, the bank would have been the one to sign the quit claim, not you. If you signed a quit claim it means you are saying you give up rights...

Buying or Selling a Home: Advice on selling our house, stay at home mom, real estate broker
stay at home mom, real estate broker, hardwood flooring: Dear Holly; It seems that what you should do is talk to a real estate broker in the area who could evaluate the home and the situation. This is a good time for buyers to look at homes and with some of the incentives for first time buyers as well as low cost...

Buying or Selling a Home: Assumable Loans, las vegas, real estate
las vegas, real estate, mortgages: There are really no such things as assumable loans anymore. FHA and VA loans used to be assumable with no qualifying, but VA stopped that in March of 1988 and FHA stopped in December of 1989. All FHA and almost all conventional loans have an acceleration...

Buying or Selling a Home: abstract, title abstractor, real estate questions
title abstractor, real estate questions, title examiners: Hi Deb, If you are referring to an abstract for title, this is something that should be done immediately prior to closing. In my area, abstracts done by title examiners are not filed as public record; and I am assuming that your area might be the same,...

Buying or Selling a Home: adding name to home title, quit claim, adding owners of record
quit claim, adding owners of record, title: Hello Jeff - I apologize for the late reply. Contact the Escrow Agent at the title/escrow company you used to buy your home. Tell them the situation and they should be willing to do a quit claim to add her to title at no charge. Normally there is anywhere...

Buying or Selling a Home: Backing out of contract, earnest money deposit, jessica bryan
earnest money deposit, jessica bryan, breach of contract: Hello Debra; If the contract has the limits of your monthly payment then you are not in breach of contract. There is no need to give up your earnest money deposit since the contract was contingent upon the P/I not to exceed $900. If they dispute it contact...

Buying or Selling a Home: Breaking a lease, break lease, lease terms
break lease, lease terms, purchase clause: Hello Karyn - If the contract does not provide any verbiage and the State s Landlord Tenant Act does not provide this option then it does not exist. I am not aware of any law stating this. The term that would allow a tenant to break a lease prematurely...

Buying or Selling a Home: Buyer stuck?, cash buyer, appraisal fee
cash buyer, appraisal fee, payed: Hi- Again it depends on how the contract reads. What I meant was you can ask anything and get anything but it has to appraise for most people to get their loan. If it hasn t appraised once, it probably won t again. Unless it s a cash buyer, it WILL matter....

Buying or Selling a Home: Buying half of someone's house, cash downpayment, bank financing
cash downpayment, bank financing, owner financing: Hello Justin, Thank you for your question. Sounds like a great opportunity. The easiest way would be to buy half of the house and pay cash and add new owner/s to title. Owner financing is a second option, but I see no benefit to the current owner....

Buying or Selling a Home: Buying a house with parents, lifetime savings, mortgage broker
lifetime savings, mortgage broker, immigrant family: Hi Ron, You can purchase the home WITH your parents, so your name is on the title AND the mortgage. If you tell the escrow company your intentions they can help you determine the best way to take the title so that when your parents pass away their ownership...

Buying or Selling a Home: Buying a second home, fha loans, fha loan
fha loans, fha loan, mortgage companies: These mortgage companies make their money from the discount points. The more of a risk the more they charge. Doesn t make sense does it? In years past the government backed those FHA loans and they were getting the sellers to pay those fees, and the price...

Buying or Selling a Home: breech or no breech, minute consultation, purchase contract
minute consultation, purchase contract, carport: Hey, Wilma. That varies state by state, but even if I knew what state you are in, there are so many variables involved, such as what kind of title insurance you have, what the title actually says, what he knew and disclosed, what you knew or thought you...

Buying or Selling a Home: why is buying a home considered a second home when i am renting a commute apartment?, rio vista ca, loan counselor
rio vista ca, loan counselor, purchase agreement: Hi Catherine- Thanks for the question however I think you might get the best answer from a tax professional. In my opinion, the tax credit was established to encourage people to buy and own homes. As this is the only home you will OWN it seems to me that...

Buying or Selling a Home: buying a house, chula vista ca, professional home inspection
chula vista ca, professional home inspection, boom times: Hey, Elsa. I don t understand what you mean by the main supply needs to be replaced. Was the drainage slow throughout the house, or was it localized to one bathroom, or even one toilet, sink, bathtub, or shower? Mold has been found everywhere on...

Buying or Selling a Home: buying a property with easement, easements, waterfront
easements, waterfront: Esther, There are many different kinds of Easements. You ll have to find out what kind of an easement it is. Since it is waterfront, it could be an easement for people who live in the subdivision to get down to the water or it could be a utility easement...

Buying or Selling a Home: Cancellation of Purchase Offer, email response, department of real estate
email response, department of real estate, mr dennis: You may cancel at any time as long as the other party has not accepted your offer, Peter. You have proof that you have cancelled with your email and his email response saying he will return your deposit. Take those two copies to his office manager and ask...

Buying or Selling a Home: Capital Gains on Sale, house sale, capital gain
house sale, capital gain, granddaughter: This is outside my expertise, Garry. I strongly suggest your granddaughter consults an ESTATE (not real estate) attorney. He/she will be able to answer your question. As you can see now that is very important to see that attorney before all this happened,...

Buying or Selling a Home: Changes made to deed while under contract., insurance premiums, storage buildings
insurance premiums, storage buildings, month and a half: The seller cannot, should not, must not make any changes to the deed or condition of the property after the buyer has made his offer based on the representation. Yes, yes, and yes!!! This is a case for a good real estate attorney, Ronnie. Absolutely do not,...

Buying or Selling a Home: Checking for lien on title, bank repo, giving me a hard time
bank repo, giving me a hard time, tax clearance: Hi Dave....you are right to be concerned. The best way to do this is to go through escrow! The escrow company does all this on your behalf. Escrow should only be about $400-500. If this is not an option, you can try to go to the state s website, find the...

Buying or Selling a Home: COUNTER OFFER, jessica bryan, buying a bank owned home
jessica bryan, buying a bank owned home, closing cost: Dear Heather; Once an offer or counter offer is signed by both parties it is a contract. In this case the bank signed the counter offer and once you signed it; it became a contract. I suggest that you go back to your REALTOR and discuss this with him/her...

Buying or Selling a Home: capital gains, 203k rehab loan, fha 203k
203k rehab loan, fha 203k, capital gains tax: Capital gains tax? This is NOT a question for a Real Estate Professional, but should be submitted to an Attorney who specializes in Tax Law, a Certified Financial Consultant and/or a CPA! He doesn t want to hassle with getting it ready? If he s willing...

Buying or Selling a Home: coop sales, coldwell banker real estate, capital gains tax
coldwell banker real estate, capital gains tax, coops: Hello Ralph, Thank you for your question. Capital gains are taxed at 15%. If this is your primary residence you would be able to take advantage of the capital gains deduction of 250,000 for singles or 500,000 for couples. So, based on your numbers,...

Buying or Selling a Home: getting my deposit back, earnest, deposit
earnest, deposit, refund: Hello Nitza - You must check the wording in your contract. In Arizona there is a finance contingency built into the contract which in the event a buyer is unable to qualify for the loan they would be entitled to a return of your earnest money (unless there...

Buying or Selling a Home: deposit on contract, home contract, earnest money
home contract, earnest money, downpayment: There is not a typical deposit. It is up to the two parties to negotiate that. The reason it is called earnest money, is it shows how earnest the buyer is about buying the home. The seller is willing to remove the property from the market while you close and...

Buying or Selling a Home: downpayment and closing cost assistance, first time homebuyers maryland, buying home maryland
first time homebuyers maryland, buying home maryland: Many home sellers in this market are willing to help with your closing costs and you can make that part of the sales price. As far as downpayment assistance, there aren t any current programs that are available. Some members of Congress are trying to make...

Buying or Selling a Home: equity gift to my daughter, house tax, mortgage banker
house tax, mortgage banker, tax expert: You are allowed to gift $13,000 EACH ($26,000), Frank, in equity at this time. Since that figure is different than what the banker told you, I recommend you talk to a CPA or tax expert to make sure you do this right. As long as you are within that $26,000...

Buying or Selling a Home: FAR/BAR, seller warrants, traditional contract
seller warrants, traditional contract, cosmetic issues: Dear Carolyn: The most important thing is that you were released from the contract. The next important thing is not to buy anything unseen. In California there is no thing as the as is , unless it is stated and signed by all parties that the seller is...

Buying or Selling a Home: Failure to sign sales offer acceptance, deceased brother, estate matter
deceased brother, estate matter, legal matter: The fact that you received a full-asking price means you and she owe the Realtor a commission. Yes, even though there is no completion of sale. So, when you go to consult your real estate attorney to settle this matter, he/she will verify that. This is more...

Buying or Selling a Home: Filing a Complaint, referral fee, procuring cause
referral fee, procuring cause, agency: Hello Les - You always have the right to file a complaint. There is more than one potential violation in your question. Article 16 interfering with another REALTORS agency relationship is only a violation of the Code of Ethics if the buyer has a contractual...

Buying or Selling a Home: Selling a house while on Social Security, social security check, social security
Buying or Selling a Home: Selling a house while on Social Security, social security check, social security

Buying or Selling a Home: Terminate a lease early, mid way, scammers
Buying or Selling a Home: Terminate a lease early, mid way, scammers, renter

Buying or Selling a Home: finding a buyer who needs a very large old home, dialysis center, sewing room
dialysis center, sewing room, assisted care: Dear Pamela; Thank you for your question. The first thing you may want to do is depending on the state in which you reside, contact the state and local offices for assisted living, or care facilities to investigate the requirements needed to start a...

Buying or Selling a Home: firing an agent when buying, buyer agency agreement, breach of contract
buyer agency agreement, breach of contract, agreement contract: Hi Sharon, I apologize for the delay in responding. I just received a reminder from the All Experts’ system of your pending question and have no explanation why your original question did not come through. First, if this agent is representing you, especially...

Buying or Selling a Home: foreclosure, probate judge, sun city ca
probate judge, sun city ca, sayso: First, Elizabeth, what do you have to do with the property? Two days prior to the actual sale date? What sale date? The probate? The foreclosure? A regular sale? Why are you paying the HOA fees? The lender on the mortgage can pull away from their foreclosure...

Buying or Selling a Home: foreclosure cleanup, asset management company, bank owned properties
asset management company, bank owned properties, local real estate: Hi Mike - I would call other businesses in your area, saying you are pricing their services for an asset management company and see what they re charging. Then you know how to be competitive. Every market is different and you need to know what s going...

Buying or Selling a Home: Home Loan Refinance, closing cost estimate, home loan mortgage
closing cost estimate, home loan mortgage, escrow account: Don t feel pressured, unless you agreed to pay fees for appraisal, etc then you can t be held responsible for them. It s their responsibility to honor their original loan terms. Tell them you re not going to follow-through with it unless the original terms...

Buying or Selling a Home: what kind of loan should I get?, variable interest rate, bridge loans
variable interest rate, bridge loans, home equity loan: Hi Jo, As long as your credit score is good and you have enough income to satisfy a lender’s requirements to meet the monthly payment obligation, I certainly think your scenario for financing is feasible. Lenders LOVE buyers who go in with a 50% or more...

Buying or Selling a Home: Land Contract, contract question, land contract
contract question, land contract, purchase insurance: In most states, Vicky, should the buyer not make the payments agreed, the seller has to file a foreclosure process if the seller wants to protect his/her rights. And any costs you incur in the process, like the insurance costs or any other costs that were...

Buying or Selling a Home: Limited New Home Warranty, Help Understanding, Warranty on a new home
Warranty on a new home: Dear Trish; Thank you for your question regarding a “Limited Home Warranty” Being a Realtor in California, to my knowledge the Builder/General Contractor is responsible for a period of 10 years from the close of escrow for latent defects in material...

Buying or Selling a Home: Low appraisal, future sales, new construction
future sales, new construction, bernstein: Tony, The appraiser is not finding comps to justify the price you are paying therefor the bank will not give you a high enough loan. Your options are to pay the additional amount in your down payment, try negotiating with the builder to lower the price...

Buying or Selling a Home: Misrepresentation of Sewer Issue, rotorouter, clay tiles
rotorouter, clay tiles, sewer problems: Hello Yotoden, Disclosure deals with known structural defects or functional problems. If a problem has been to the Sellers best information, repaired, there is always a question as to if it should be disclosed or not. I have had a similar problem myself...

Buying or Selling a Home: Mobile Home Title Transfer, mobile home broker, mobile home park
mobile home broker, mobile home park, mobile home sales: Actually, Laura, this is not a real estate problem. Assuming it is in a mobile home park, this is more a DMV problem. However, I strongly recommend you consult with a Texas estate attorney to make sure this all transpires properly. The attorney would be able...

Buying or Selling a Home: Mortgage rates, verbal authorization, verbal contract
verbal authorization, verbal contract, verbal agreement: Hey TOM-- Signing a Lock-In Agreement is like signing a Contract-- the Lender is committed to giving you the Note Rate that he/she is locking in for you & can t raise it. On the other hand,you are committing to accepting that Note Rate even if market...

Buying or Selling a Home: misrepresentation, legal recourse, jessica bryan
legal recourse, jessica bryan, appraisal fees: Hello Patricia; If a property is under contract and the Seller is unable to deliver the property there are certainly damages that should be considered. A buyer has every right to expect to be reimbursed for the expenses they incurred acting on good faith...

Buying or Selling a Home: misrepresentation, multiple listing service, hard feelings
multiple listing service, hard feelings, local real estate: Your questions is confusing, and I do not quite understand what you mean. Therefore, I am going to have to do some guess work. Please email me back if I am guessing wrong and clarify your question so I can be of greater help. The word misrepresentation...

Buying or Selling a Home: morgage, cosigner, uper
cosigner, uper, loan credit: Hi Tiffany, no matter what the loan or who is on the loan CREDIT is the key. The best thing to do is make a new loan application with your new co-signor and see if you can qualify for the $15,000 home. You would have less down since the purchase price is...

Buying or Selling a Home: move while mortgage is upside-down, current mortgage, real estate agent
current mortgage, real estate agent, foreclosure: Hi Adam, yes you can try and sell you home as Short Sale. This would mean you would ask the lender to take less than you owe, thus the term short sale. Many lenders are doing this so the owner can sell the house and avoid a foreclosure. There are steps...

Buying or Selling a Home: Do I need a lawyer to purchase a friends home?, jessica bryan, elderly neighbor
jessica bryan, elderly neighbor, executor of the estate: In order to sell an estate all legal owners must agree on the sale. The only way around this is if they have signed over power of attorney to the executor and have specifically stated in the power of attorney that the holder of the PA is able to sell all or...

Buying or Selling a Home: nondisclosure of property (retaining wall) problem, small claims court, legal remedy
small claims court, legal remedy, disclosure laws: Hi Christine, Being only licensed in Virginia and Washington DC, I am not familiar with your California Contract - Disclosure Laws. You did not say if in your Contract to Purchase there is a contingency for Home Inspection and if you performed one. While...

Buying or Selling a Home: Can we offer to buy a home that someone else recently purchased?, dear anne, idea what kind
dear anne, idea what kind, appt: Dear Anne; I assume you are still in backup position. If you were able to find out who the buyers are in primary position as mentioned in my previous message, (that is no easy process) you can approach and make your offer. At that time if they were to accept...

Buying or Selling a Home: old house no c/o, town of islip, snow storm
town of islip, snow storm, 60s: Hi Ken, Hope you are surviving the snow storm..... Thank you for your question. C/os were not common until the 60s and 70s. It is likely you bought your house without a CO. You may have gottne a predate letter at the time. If not, the building...

Buying or Selling a Home: Who owns this land??, court house, title company
court house, title company, quay: Pin the location down, Quay, and then take that information to a title company. I am sure they will oblige you with the proper identification and owner. You might find that it is part of the next-door property and that is why you did not have any luck. I wish...

Buying or Selling a Home: Property damage, floor tiles, contractual agreement
floor tiles, contractual agreement, government assistance: Hi Kristina; Okay...so I m confused. You said in your first note that she is NOT helping you sell the home. If she is in fact your listing agent then I can understand why you are upset and holding her responsible. Certainly she should share responsibility...

Buying or Selling a Home: Question about rental property, prospective home buyers, property question
prospective home buyers, property question, real estate agencies: Hello Tanya, Good to hear from you and you are making the right choice. Just figure out times you can take the kids out to shop or to the park or to eat and tell the landlord/real estate a schedule. All buyers are accompanied by licensed real estate...

Buying or Selling a Home: question, earnest money, karima
earnest money, karima, bernstein: Dear Karima, There is nothing wrong with the seller disclosing another offer price. He has the right to try and get the highest price possible. I know it doesn t seem ethical but there is nothing you can do in California. Sorry I can t give you a better...

Buying or Selling a Home: question, legal restriction, jessica bryan
legal restriction, jessica bryan, earnest money: Karima; I assume that the family member was buying another home that was the same size and asking price which would explain why the Seller would tell them what you had paid. The reason the seller would do this is because he wanted them to understand that...

Buying or Selling a Home: Real Estate Questions, real estate questions, mortgage commitment
real estate questions, mortgage commitment, routine requirements: Hello Kristin, Thank you for your question. Has the buyer gotten their mortgage commitment or only been preapproved? If the time allowed to get the mortgage commitment has come and gone without a timely written request for an extention you can cancel...

Buying or Selling a Home: Real Estate Seller disclosure requirements in Arizona, bank owned, home inspection
bank owned, home inspection, buyers agent: Hi Mary - I used to live in Chandler, Arizona but I m not familiar with the term SPDS. As far as the home inspection goes, yes in most states the seller is required to disclose any known issues with the property, but that only applies to a seller that has...

Buying or Selling a Home: Return of, jessica bryan, faith deposit
jessica bryan, faith deposit, foreclosure property: I don t know why there should be a statue of limitations since you asked for the money back and have been waiting all this time. If you have a question about your rights in your state (since laws differ from state to state) you may have to check with an attorney....

Buying or Selling a Home: realestate disclosures, real estate disclosures, county ordinance
real estate disclosures, county ordinance, continuous basis: As far as the harassing neighbor is concerned, Lydia, there is nothing in the seller s disclosure that requires him to inform you about that. It s one of those neighborhood things that would require you to do your own investigation. If the seller lied on...

Buying or Selling a Home: release of deposit money, earnest deposit, breach
earnest deposit, breach: Hello Harold - Remembering I am not an attorney, this language would indicate that the buyers failure to provide the funds along with failure to perform would constitute a breach. What it doesn t say however, is the procedure that needs to be followed to enact...

Buying or Selling a Home: rental/investment property, hey rita, bank banks
hey rita, bank banks, consistent returns: Hey, Rita. Rental properties are great ways to get consistent returns on one s money. Generally, yes, you can borrow from the equity in your own home to buy another property. Real estate investors and landlords do it quite often, and that is how many...

Buying or Selling a Home: renter defaulted, small claims court, treasurers office
small claims court, treasurers office, lease agreement: Hi, Sorry to hear that your tenants disappeared on you. If your tenants have left the area and owe you money, this doesn’t sound good at all. The terms of your Lease agreement will dictate remedies you are entitled to by law, in addition to any of your...

Buying or Selling a Home: repo pending house, dear esther, jessica bryan
dear esther, jessica bryan, mobile homes: Dear Esther; This is not a term that we use for homes unless they are mobile homes. In that case it could be a repo (like a vehicle repo). In a home it is a foreclosure or a short sale if the foreclosure has not happened yet. I suggest that you call the...

Buying or Selling a Home: rights as a home seller, true market value, tile floors
true market value, tile floors, educated guess: Deborah, Tucson is a lot better off than Phoenix and should benefit from any upturn in the market. My MLS system does not extend to Tucson, so I cannot comp it. Do you have a Realtor? If not, I will put you in contact with a good one down there. Nori ...

Buying or Selling a Home: Seller Agent's Communication with Seller, asset management company, real estate commission
asset management company, real estate commission, power of attorney: Hi Laura, The real estate laws where I live and work require that ANY WRITTEN OFFER (counter offer, addendum, etc.) shall be presented to a Seller or Buyer, whichever is the case. You would need to check with the Real Estate Commission in Alabama to see...

Buying or Selling a Home: Seller's side holding up closing, loan docs, contract states
loan docs, contract states, minimum time: Questions: 1. Isn t the seller ultimately responsible to produce a title even if they have a 3rd party Rep.? I m not really sure what a third party rep is for title. Whoever is listed as the title agent on the contract is responsible. Call that person...

Buying or Selling a Home: Selling a house while on Social Security, time andrea, social security payments
time andrea, social security payments, answering your questions: Answering your questions one at a time, Andrea: If you have lived in your house two of the last five years (any two), and you have not had a capital gain of more than $250,000 or $500,000 if your are married and filing jointly, then you need not be concerned...

Buying or Selling a Home: selling a modular home in ohio, professional party, interested buyer
professional party, interested buyer, craiglist: Don t be penny-wise and dollar-foolish, Josh. In this kind of market you are very fortunate to have found a buyer. So, to make sure everything goes well and the buyer is able to get into the house and you can get on with your lives, get yourself a REAL ESTATE...

Buying or Selling a Home: Back Tax Home Purchase, eviction, title search
eviction, title search, tax liens: well you still need to get the property, and decide if the condition is something you can handle, look into evictions if the property is occupied, know your tenant - landlords codes and laws... look into zoning or code violations... there is quite a bit to...

Buying or Selling a Home: Terminate a lease early, time home buyer, first time home buyer
time home buyer, first time home buyer, competent advice: Hi Duc- Thanks for your question. Congratulations on wanting to become a homeowner and this is definitely the time to do it! Unfortunately, a lease is a contract and you have contracted to lease the condo until 2/2010 whether you are buying a home (for the...

Buying or Selling a Home: telling purchaser the appraised value, Appraisal, appraised value
Appraisal, appraised value, value: Hello Jan - This question requires more than one answer. First, your parents are not obligated to disclose the appraisal exists or the appraised value unless it validates the price they are asking for the home. It is understandable that your parents desire...

Buying or Selling a Home: Under contract for over 2 weeks, baldwin county, chattanooga tn
baldwin county, chattanooga tn, joe public: I am not sure I am understanding your situation or your question, Christl. If it is what I think it is, just be patient. Your Realtor was correct, Christl. Just be patient. If you don t want to wait, just go out and find yourself another house you will like....

Buying or Selling a Home: vacating after closet of escrow, luck mike, purchase agreement
luck mike, purchase agreement, good question: Lisa...good question. Your risks are many! You have no assurance that the other party WILL move. This should only be agreed upon, if your ok with it, with instructions to escrow not to disburse funds until all the conditions have been met....ie, seller...

Buying or Selling a Home: Waht kind of loan should I get?, jessica bryan, home equity loan
jessica bryan, home equity loan, bridge loans: Dear Jo; since banks have become so conservative with lending, they want to make sure that you qualify for a loan. With your existing home being paid off I would say that you should talk to a lender right away and get a home equity loan or a line of credit...

Buying or Selling a Home: 2nd Lien, owner finance, free consultation
owner finance, free consultation, thanks in advance: Hey, Alan. The answer varies widely in all states. You might not necessarily be out, but you might also have to fight hard for it. The best thing you can do at this point is to contact a good real estate attorney. Most attorneys in Texas provide either...

Buying or Selling a Home: Advise about misleading disclosure, cracks in the walls, cracked foundation
cracks in the walls, cracked foundation, repair estimates: Hi Charlie, I’m sorry to hear that you are experiencing such an expensive problem. My suggestion regarding your attorney’s statement that ‘a lawsuit will be very expensive for you’ would be to ask your attorney if you can request that the former Sellers/Realtors...

Buying or Selling a Home: Age of Mechanical Systems, contingency period, professional home inspector
contingency period, professional home inspector, ac unit: Dear Nathan: YOu should consider yourself fortunate that you learned about this prior to ownership. At this point, you cannot force her to replace anything, all you can do is to negotiate at a lesser price. I am questioning the fact that you had an inspection...

Buying or Selling a Home: asking out of an exclusive listing contract, mls listing service, jessica bryan
mls listing service, jessica bryan, agent representation: Dear William; Since I don t have a copy of the contract to review and cannot give legal advice, you should first try to discuss what you would like to do with your agent and the brokerage. Then, if you are not satisfied with the answer you should seek legal...

Buying or Selling a Home: Bought a Lemon, due diligence, free consultation
due diligence, free consultation, home inspections: Hey, Wendi. You didn t say whether or not a home inspections was conducted on your sister s house. If not, she might be faulted for not having done all her due diligence. I haven t been able to find out what the statute of limitations is for home inspections...

Buying or Selling a Home: Building on existing lot with man. home, mobile home dealer, existing home
mobile home dealer, existing home, manufactured home: Dana...If you own the land, you can do what ever you want with the home, however, parks generally want new homes installed. This would be difficult to sell to someone else unless they also owned a lot. The market conditions are slow, but it s always about...

Buying or Selling a Home: Buyer wanting to fire realtor, buyer with a bad agent
buyer with a bad agent: Dear Buyer; Thank you for your question. This is not as uncommon as one would think when working with a Realtor. The one thing a buyer should remember is that the Realtor is about to earn a great deal of money for their efforts in representing you. For...

Buying or Selling a Home: Buying delinquent property taxes, delinquent property taxes, tax delinquent properties
delinquent property taxes, tax delinquent properties, delinquent taxes: How it usually goes, Maria, is when you buy the property because of delinquent taxes (you re buying the property from the county in which the propery is located), some states allow the former owner a set amount of time (depending on the state how much time)...

Buying or Selling a Home: Buying a estate property, mortgage co, numbskull
mortgage co, numbskull, credit scores: Unfortunately, Sheila, you apparently bucked up against an incompetent Realtor. Any Realtor worth his or her salt would keep you advised all the way through this matter. If it was me, I would have got on a plane, if necessary, to get those heirs to sign on...

Buying or Selling a Home: Buying Mom's house (with a twist), irs rules, stupid mistake
irs rules, stupid mistake, steady job: Easy problem to solve, EJ. First of all, you say that the property has gone UP in value? That is a strange thing to hear these days. Where is the property located? What you need to do, EJ, is to have her sell you the property, giving you credit for the...

Buying or Selling a Home: Buying a mobile home, tax clearances, escrow
tax clearances, escrow, mobile home: Hello Carly, My suggestion will always be to go through an escrow company. Unless you have the time and ability to check tax clearances, lienholders, and other property issues....$500-600 is a very reasonable fee. They will do all the registration and title...

Buying or Selling a Home: Buying a triplex, buying, selling
buying, selling, income: Hi Kristin, Congratulations on wishing to be a property owner. You need to take a few steps back and do your homework before you dive into the world of income property. There are a number of items you should really look at... You mention that you cant...

Buying or Selling a Home: best and final offer versus higher counter bid, multiple offers, negotiate the best possible deal
multiple offers, negotiate the best possible deal, negotiations: Dear Melinda; Congratulations on getting two offers on your home… In multiple offer situations you are absolutely correct not to scare the either or both offers away due to trying to get a higher asking price. You should listen to your agent, but here...

Buying or Selling a Home: building a house, real estate, land
real estate, land, homes: Hi Jason, I would definitely look in to getting a construction loan. There are very few lenders giving money on land these days, so the interest rates are high and you probably won t be able to borrow as much as you will need to complete a home. With a construction...

Buying or Selling a Home: Canadian buying in California, opening a trust, capital gains tax
opening a trust, capital gains tax, quick reply: Technically it is supposed to be a total of 2 years out of the past 5 years, so if you only lived in it 3 months per year then it wouldn t qualify. If you lived in it 5 months per year it would qualify. Now I ve never heard of anyone getting audited on this,...

Buying or Selling a Home: Changes to deed while under contract, insurance premiums, storage buildings
insurance premiums, storage buildings, encroachments: Hi- Thanks for the question. In my opinion, this situation is a material fact which should have been disclosed to you and your input as to how it should have been handled should have been obtained. On the other hand, you most likely did not assume that you...

Buying or Selling a Home: Changes made to deed while under contract, contract question, insurance premiums
contract question, insurance premiums, storage buildings: Hello: That does change things. It seems that you knowingly, at some point, acknowledged that you did not know what you were buying, and hence the survey was necessary. The question then becomes, at what point after the survey was it decided by both...

Buying or Selling a Home: Common Area Persentage, large portion, dick
large portion, dick, improvements: It would seem, Mike, since they apparently have not built the additional phases, that the 6.94% is till valid. So, if you do buy that condo, you cannot say you did not know you didn t know about the change in percentage. If nothing else, it means you would...

Buying or Selling a Home: consequences of mortgage default and advisability, mortgage default, automobile loans
mortgage default, automobile loans, bankruptcy attorney: That is true, John. Walking away from a mortgage does not have to have anything to do with bankruptcy. In fact, you can keep the house and still do a bankruptcy. I was talking to an attorney the other day and in fact you can affirm any debt you may have...

Buying or Selling a Home: considering defaulting on mortgage, worst case scenario, economic climate
worst case scenario, economic climate, mortgage payments: Hello Bobbilynn, Defaulting on a home loan will probably end your chances at getting the another one for some years to come and in this economic climate, you don t want to do anything that will damage good credit that you have now. This loan you have is...

Buying or Selling a Home: contracts, jessica bryan, home doesn
jessica bryan, home doesn, asking price: Dear Becky; I suggest that you read over the contract and look for the clause that you are referring to. I have no idea what your contract says but if there is nothing mentioned in the contract then you will owe a commission to the REALTOR who listed your...

Buying or Selling a Home: decieved, fraud claim, wet floors
fraud claim, wet floors, private seller: Stephen...If you got a Federal Disclosure form signed, or used an escrow company, you will be ok. If not, you can go to court and file a fraud claim, but if the person is a flake , they might not care...although the judge could issue a Judgement in your...

Buying or Selling a Home: EARNEST MONEY, earnest money, purchase agreement
earnest money, purchase agreement, receipts: BE SURE TO KEEP ALL YOUR RECEIPTS FOR REPAIR AND WHEN THEY SUE YOU FOR POSSESSION OF THE HOUSE, BE SURE TO TELL THE JUDGE EXACTLY WHAT TRANSPIRED AND A COPY OF YOUR LEASE OR PURCHASE AGREEMENT. IF YOU DO NOT HAVE A COPY OF EITHER OF THOSE, THEN YOU ARE BEING...

Buying or Selling a Home: Falsifing Disclosure Statements, intentional misrepresentation, hydraulic cement
intentional misrepresentation, hydraulic cement, disclosure statements: Hi Jenifer, What you described is FRAUD, which is defined as INTENTIONAL misrepresentation. I am so sorry to hear of your problem, and this is the kind of thing that no one should have to put up with. The answer is, “Yes, if you can prove that the...

Buying or Selling a Home: Firing your realtor, tooth and nail, bic
tooth and nail, bic, realtor: Hi Chris, Sorry to hear you are having problems with your Realtor. If you don’t mind, please write back and be more specific so I can address your question properly. Let me know what your Realtor has failed or refused to do for you, and what actions...

Buying or Selling a Home: First time home buyer - short term, term greetings, principle and interest
term greetings, principle and interest, plumbing problems: Hello Bob, the market is in a place where prices are much lower than they have been in recent years. Buying a house right now is probably a safe and good investment. However, no one has a crystal ball and cannot predict how much equity you will see in 3...

Buying or Selling a Home: consequences of mortgage default and advisability, math skills, elementary arithmetic
Buying or Selling a Home: consequences of mortgage default and advisability, math skills, elementary arithmetic, zeros

Buying or Selling a Home: EARNEST MONEY, landlord tennant rights, licensed real estate
Buying or Selling a Home: EARNEST MONEY, landlord tennant rights, licensed real estate, phoenix arizona

Buying or Selling a Home: Help Please!, extra room, parto
Buying or Selling a Home: Help Please!, extra room, parto, extra cash

Buying or Selling a Home: Realtor for a new build, paperwork, contracts
Buying or Selling a Home: Realtor for a new build, paperwork, contracts

Buying or Selling a Home: Short sale processing fee, crybabies, realtor
Buying or Selling a Home: Short sale processing fee, crybabies, realtor, commissions

Buying or Selling a Home: seller agent's duties re: property disclosures, foreclosure properties, disclosures
Buying or Selling a Home: seller agent's duties re: property disclosures, foreclosure properties, disclosures, disclosure

Buying or Selling a Home: VA, fha loans, loan officers
Buying or Selling a Home: VA, fha loans, loan officers, provision

Buying or Selling a Home: Help Please!, ssi disability, avoiding foreclosure
ssi disability, avoiding foreclosure, question pool: SEE ADD-ON BELOW ORIGINAL ANSWER! Hi SKYLER-- I found this in the QUESTION POOL, and then found that you d sent this same question to about 8 of us Real Estate Experts. I read some of the answers, all were good suggestions! But MINE was BEST! You...

Buying or Selling a Home: Help Please, ssi disability, elderly father
ssi disability, elderly father, harry reids: Hello Skyler, I would contact Sen. Harry Reids office and ask for assistance 222-224-3542/1-866-sen-reid(736-7343) and/or go to hud.gov and look under Hope for Homeowners Program. We have a serious issue in Las Vegas and we need Sen. Reid and others to help...

Buying or Selling a Home: HOA not disclosed at time of purchase, home bottom, single home
home bottom, single home, money time: Hi JENNA-- Do we have a case and if we want to sue, who should we sue? You re asking for a legal opinion, advice and guidance! To provide you with that I would be practicing law by the very definition of Attorney or Lawyer! So, I CAN T answer those...

Buying or Selling a Home: Home Built over Public Sewer Line, foreclosure sales, sewer workers
foreclosure sales, sewer workers, city engineering: Hi Rosemary, When your Mother originally purchased, the owner/builder may not have realized the house was built over a sewer line and did not know in order to be able to disclose it. This is sometimes how these problems begin and carry forward until they...

Buying or Selling a Home: Home title not cleared, title insurance policy, title insurance company
title insurance policy, title insurance company, mortgage escrow: Hai Doan-- You say that the Mortgage Company s Escrow Division served as Title Company. They may have run your loan through escrow and closed the loan in their own Escrow Division, BUT I d bet they DIDN T issue a Title Insurance Policy. I m sure they...

Buying or Selling a Home: House or Condominium Ownership, neighborhood amenities, condominium ownership
neighborhood amenities, condominium ownership, hoa dues: Dear Kenneth; The answer is not a clear one. It depends on the neighborhood. A condo has shared expenses and an association fee. A home sometimes does not have the same amenities and therefore no additional association fees. A home sometimes has no HOA...

Buying or Selling a Home: The Internet's Effect On Realtors, Why use a Realtor? Using a Realtor, For Sale by Owners
Why use a Realtor? Using a Realtor, For Sale by Owners: Dear Brittany: Thank you for your question... Interesting question... No it has not effected my business in a negative way at all. I use CraigsList and the many other internet property search sites to advertise my listings effectively. 80%+ of all buyers...

Buying or Selling a Home: Kitchen appliances, bathroom light fixtures, corian countertops
bathroom light fixtures, corian countertops, stainless appliances: Dear Michelle; Be prepared to spend the money and not get your investment back. You will not be able to price the home higher just because there are new appliances in stainless. The benefit will be that your home will look better with the new appliances...

Buying or Selling a Home: Lease to own a Foreclosure, rent to own, credit history
rent to own, credit history, lending process: This all boils down to just one thing and that is what a bank will or won t do. This is different for every bank. Since you have no job now and your fiance has no job now, no bank will lend on what might be. Even when you get a job you probably will have...

Buying or Selling a Home: Misrepresentation of Home, buying a home in Maryland
buying a home in Maryland: I m puzzled as to why the Realtor couldn t figure out if there were central air or not. You may want to discuss your situation with the agents broker and see if you can work something out with them. The agent may be new and may have not known how to determine...

Buying or Selling a Home: Owing more than its worth, heloc, mr dennis
heloc, mr dennis, jumbo loan: There is nothing you can do about the market, Paul, but there is something you can do about the money you owe to your family member. Before you decide to walk away from the house (although I believe you should sell it as a short sale, ) reinforce your debt...

Buying or Selling a Home: Will owners sue us?, real estate, homes
real estate, homes, material defect: Dear Shannon, The answers to all your questions depends on what is actually in your contract. Most states have some language in their contracts that say that if the buyer discovers a material defect, they have the right to cancel a transaction. The home...

Buying or Selling a Home: PREFORCLOSURES, foreclosure sales, foley
foreclosure sales, foley, local newspapers: Dear Jackie: A pre-closure could be a problem. Foreclosure is a long, laborious process which could be voided ultimately if the seller declares a bankruptcy, or if the lender makes payment arrangements allowing the owner more time and latitude to make the...

Buying or Selling a Home: How to proceed without a realtor, local realtor, wealthy couple
local realtor, wealthy couple, appraisal districts: Dear Jeff; You seem to have thought of most of the important questions regarding the purchase of the home. I do think that an agent who would assist you could be valuable in helping you to determine what price your offer should be. Perhaps you can negotiate...

Buying or Selling a Home: purchasing a tenant-occupied house in short sale- tenant refuses to vacate, holdover, tenant
holdover, tenant, eviction: Hello Stacey - I recommend contacting a real estate attorney immediately. There are a couple of issues. First, usually the new owner must honor any existing lease on the property. If there is a remainder of the initial lease term then it is typical the tenants...

Buying or Selling a Home: Quick Question, ssi disability, reputable lenders
ssi disability, reputable lenders, economic stimulus: Hi Skyler, Sorry to hear of the loss of your brother and Father. That’s hard to lose two close family members in such a short time. I would first contact your mortgage company and see if they will refinance your loan or otherwise be able to help you...

Buying or Selling a Home: Quick Question, ssi disability, elderly father
ssi disability, elderly father, business transfers: Hello Skyler, Thank you for your question. From what you have said it sounds like you need more income. How many bedrooms are in the house? You can rent out the bedrooms to individuals. My mother did that and had a nice income from it. That would...

Buying or Selling a Home: Quick Question, ssi disability, spanish ridge
ssi disability, spanish ridge, realty solutions: Hey, Skyler. Contact the following person. She has said she is willing to try to help you. Let her know that Russel Ray told you to call her. Renee Burrows Nevada Realty Solutions 8942 Spanish Ridge Avenue Las Vegas 89148 702-966-2494 Here s the...

Buying or Selling a Home: Quick Question, foreclosure, refinance
foreclosure, refinance, CMA: First and foremost, run, don t walk to the bank immediately. Banks want to avoid foreclosure, but they can t if you don t talk to them. Talk to a Realtor and get a Comparative Market Analysis, CMA. This will help you truly know what you are dealing with...

Buying or Selling a Home: Quick Question, fixed rate mortgage, ssi disability
fixed rate mortgage, ssi disability, 30 year fixed rate mortgage: Skyler-- Haven t we spoken here before? If so, welcome back. Sorry about your losses. Losing both a Brother & your Dad so close together must have been very stressful. We ll pray for them! As for your housing problem, here s the way to go: 1. Before...

Buying or Selling a Home: Quick Question, ssi disability, loan modification
ssi disability, loan modification, property expert: This seems like an ideal situation for a loan modifcation, Skyler. You really could do it yourself. All you have to do is to talk with your lender and ask them for a loan modification. Whoever you talk to, ask to talk to the loan modification manager.It all...

Buying or Selling a Home: Quick Question, ssi disability, elderly father
ssi disability, elderly father, rosen: Hi Skyler - I m very sorry for your loss. I m assuming that neither your father or brother had life insurance which would have helped you pay off or even pay your mortgage so you could keep your house. The first thing you need to do is call your lender....

Buying or Selling a Home: Quick Question, ssi disability, loan interest rate
ssi disability, loan interest rate, jessica bryan: Dear Skyler; You should contact your lender immediately and explain your situation. There are some new programs out right now to assist people in your situation. You might be able to get the loan interest rate reduced without having to refinance. Be persistent...

Buying or Selling a Home: Quick Question, ssi disability, elderly father
ssi disability, elderly father, best solution: I m so sorry to hear about your situation. Have you considered renting out rooms in your home? That is the only thing that I can think of that might bring in extra income. If you aren t upside down on the loan, the best solution might be to sell the home...

Buying or Selling a Home: Quick Question, loan re-modification, loan modification
loan re-modification, loan modification: Dear Skyler; I am sorry for the loss of your brother and father earlier this year. I hope you are doing well... Thank you for your question... You may want to contact your lender to inquire about a loan re-modification of your existing loan to meet...

Buying or Selling a Home: quitclaim, real estate signs, golden gate bridge
real estate signs, golden gate bridge, empire state building: In any case, Terri, this is not sounding too good. But I should be able to make it so that you make out OK. First of all, a quit-claim deed is when Mr. A, who owns a piece of real estate, signs over the title of a property to Ms. B. A title company can...

Buying or Selling a Home: Real Estate, craigslist org, realtors
craigslist org, realtors, realtor: I don t think these sites make agents obsolete and therefore the economy didn t play a part. Real Estate is too big a transaction for people to go it alone with representation. Many ads in Craigslist are put there by agents. It is just another advertising...

Buying or Selling a Home: Real estate personal property, seller contributions, downpayment
seller contributions, downpayment, loan programs: Hi Diane There are still loan programs out there for persons with good credit to get 100% financing. It would not be illegal if a Seller writes a Contract for a higher amount and includes language within the body of the Contract that he is paying (the...

Buying or Selling a Home: Realtor for a new build, advance money, foley
advance money, foley, house price: Dear Rick: It is always a good idea to be represented by a party who acts as your advocate! I do not have a copy of your contract, but how can you do something without specific costs or final price - at least an estimate. YOu chance having the price go...

Buying or Selling a Home: Remodel inherited home before selling?, sf bay area, dear henry
sf bay area, dear henry, closet systems: Dear Henry, My experience is that houses sell faster AS IS and if priced aggressively (low) will bring a higher price. It is questionable if you will get the money back that you put in to update. With that said I would recommend you have several local...

Buying or Selling a Home: Return of deposit, state licensing board, louisiana state licensing board
state licensing board, louisiana state licensing board, louisiana state licensing board for contractors: Hi Kirk, If your Contract of Sale states that the Contract is contingent upon your being approved for a loan, and notwithstanding any other language in your Contract to the contrary, then your earnest money should be refunded. Read your Contract carefully...

Buying or Selling a Home: was i robbed?, co signer, property changes
co signer, property changes, abstractor: Hi Sean, You’ll have to do some research to see if your Aunt’s home was sold on the up-and-up. There’s so many scams going around now, I am not surprised at anything I hear. If you co-signed on a mortgage with your Aunt, you need to confirm whether...

Buying or Selling a Home: Sale of manufactured home to my daughter for $1, title question, quitclaim deed
title question, quitclaim deed, financial situations: Hey, Chuck. I can t state specifically for either Texas or Virginia, but generally you don t even have to sell it to her. You can give it to her via a quitclaim deed, which assigns all your rights in the property to her. They are very easy to do; an attorney...

Buying or Selling a Home: Selling a home with a tenant, sitting tenant, peaceful transition
sitting tenant, peaceful transition, least three months: Hello Ari, Thank you for your question. If there were a lease it would be the guiding instrument. I don t know if your local custom assumes the lease terms to remain the same and continue after the expiration date. How have you handled rent increases,...

Buying or Selling a Home: Short sale processing fee, realtor board, local realtor
realtor board, local realtor, cover letter: No, I have never heard of paying a fee to submit an offer for a short sale. I wouldn t pay it either. It sounds illegal, since it is the listing agent s responsibility to submit all offers to the seller in a timely manner. To ask for money to submit the...

Buying or Selling a Home: Suggestions please?, devise, will
devise, will, testate: Hello Skyler - Please accept my condolences for your loss. First, contact the lender and tell the lender the situation and ask about your options. One option should be a forbearance where the lender agrees that you don t have to make a payment for up to, say...

Buying or Selling a Home: Any Suggestions?, ssi disability, room mate
ssi disability, room mate, elderly father: Dear Skyler, It seems that you have 3 options. 1. Take in a room mate who can pay rent thereby assisting with the payment. 2. Sell the house 3. Rent out the house. I suggest you meet with a realtor and very quickly before you lose the house for non-payment...

Buying or Selling a Home: for sale as a land contract, land contracts, all inclusive trust deed
land contracts, all inclusive trust deed, installment payments: Hi Sofia, I don t know what state you are in, so please check with your lawyer... the land contract is simple enough ... you become the bank and carry the note and the buyer pays you... in California we call that an All Inclusive Trust Deed... keep in mind...

Buying or Selling a Home: second home using FHA/CHAFA, fha loans, fha loan
fha loans, fha loan, chafa: Hi Jackie, the only option you have is to go Conventional and that typically requires at least 10% down at this time. You might check with the State you live in to see if they have any BOND or Special financing loans they are offering. You are not alone....

Buying or Selling a Home: seller agent's duties re: property disclosures, property disclosure statement, property disclosures
property disclosure statement, property disclosures, association of realtors: Hi Richelle, It is the duty of a listing company to offer any purchaser a current, fully prepared disclosure package of every property they have for sale. Providing a buyer one that another another listing company had prepared opens the door to potential...

Buying or Selling a Home: selling, getting a mortgage, estate planner
getting a mortgage, estate planner, silent partner: Hello KJ, Thank you for your question. This is a complicated scnario that will need legal advice from an estate planner to insure that what you want to happen will happen in the way you intend. Sorry I can give you more info here, but it is very complicated...

Buying or Selling a Home: selling an apartment of apartment project of 40 or 50 apartments, apartment buyer, condominium project
apartment buyer, condominium project, apartment project: Hi Munsif, The last question you asked would relate to securities. I cannot advise you there, because I have no expertise in the securities and related market. If there is such a model plan in the US, I am not aware. That’s not to say that there is no...

Buying or Selling a Home: selling a mobile home that I have added on to., straight answers, court house
straight answers, court house, title company: I am not sure if you are selling the mobile only or land and mobile. If you don t have a lien on the property, just sell it. You can contact a Title company and they can run a Title check for you. Or got to the court house and do it yourself. I hope that...

Buying or Selling a Home: Being sued for problems with retaining wall, small claims court, railroad ties
small claims court, railroad ties, full disclosure: First thing I must say is GET WITH AN ATTORNEY A.S.A.P! Even if you ve been served to appear in Small Claims Court-- where you typically CAN T have an Attorney address the Court for you--you need legal advice, opinion & guidance on this matter! As I m...

Buying or Selling a Home: Tenants Rights vs Landlord Selling Property, lease states, property question
lease states, property question, lease holder: Hi Again Naimah, I practice in NY and in NY your rights may be different than in GA, but here you do have to make the home available to show given proper notice. Usually 24 hours! Also, just FYI, we use lockboxes all the time and have no problem with them....

Buying or Selling a Home: Title problem, hcd, housing and community development
hcd, housing and community development, bmv: Hi Gianna...assuming your state is similar to California, the Housing and Community Development (HCD) handles the mobile home registering, etc. Go to your state s website, find HCD, locate the local office, bring what ever you have for paperwork. They will...

Buying or Selling a Home: thread on quick claim deads, Quit claiming property to avoid taxes...
Quit claiming property to avoid taxes...: Dear Kenneth: I attached a pdf file that explains to some degree what happens when you find a situation like your wife, her sister and dad. If the clip does not explain to your satisfaction, you may want to call Jackie Boccabella, with Stuart Title of California...

Buying or Selling a Home: title search, inheritance taxes, unexpected repairs
inheritance taxes, unexpected repairs, living trust: You may want to talk to the attorney who made that living trust and see if it is possible to put your son in that trust. If that be possible, then there may not be any captital gains tax for him or you to worry about. Talk to a real estate or estate attorney...

Buying or Selling a Home: trying to sell our doublewide, perimeter walls, real estate foreclosures
perimeter walls, real estate foreclosures, foundation system: Hi ASHLEY-- Trying to sell your 2002 Model Double-Wide without selling the land? Is the Double-Wide attached to the land via some sort of foundation system, tie-downs, pit-set,perimeter walls, etc? If the Home & the Land are tied together that makes...

Buying or Selling a Home: unconditional contract, unconditional contract, olene
unconditional contract, olene, settlement date: Hello Olene, Thank you for your question. As you have explained it you are in unconditional contract to close in six months? You become the owner at the closing and become responsible for property expenses then unless you made other arrangements in...

Buying or Selling a Home: VA, fha loans, fha loan
fha loans, fha loan, question thanks: Unfortunately that is precisely the reason the lenders probably will not do a VA loan for you on this home. There is no valid (in their minds) reason for you to move next door to a home that is the same size other than for investment. They are SO strict now...

Buying or Selling a Home: Agent research, shenandoah valley, interview 2
shenandoah valley, interview 2, hi john: Hi John- What a great question! Too many people don t do their research. Here s what I recommend (and I m trying to be unbiased here as I am a Re/Max broker)- 1. Word of Mouth/Recommendations- great place to start. People are thrilled to share their experiences,...

Buying or Selling a Home: Appraisal Contingency / Cancellation / Good Faith Deposit, mail correspondence, appraisal contingency
mail correspondence, appraisal contingency, escrow instructions: You followed the proper way of doing this, Amanda. Just one thing. You were dealing with a bank. And they usually take about 30 days to return your money in this case, especially since it was an REO you were trying to buy. What did your Realtor answer to that...

Buying or Selling a Home: Buying and reselling foreclosures, real estate contract, real estate brokers
real estate contract, real estate brokers, question pool: You are asking questions that seek LEGAL OPINION, ADVICE & GUIDANCE. To legally and accurately answer your inquiries one must be a (your) State-licensed Attorney ( one who specializes in Real Estate Law is recommended). In some States Real Estate Brokers...

Buying or Selling a Home: banks loan, small claims court, recourse
small claims court, recourse, time and money: Because it is a very low deposit, José, your only recourse is to take that bank to small claims court . . . unless you signed some kind of document that said that you will be losing your deposit if they decided you did not qualify for the loan. But you can...

Buying or Selling a Home: buying land, easement area, utility easement
easement area, utility easement, desirable neighborhood: Hi Esther, When you say the land you want to purchase is not located in a “desirable” neighborhood, I am not sure if you mean the aesthetics of the land itself are not desirable, the proximity of the land to commercial and/or industrial property, or possibly...

Buying or Selling a Home: Canadian buying a home in California, certified public accountant, cpa certified public accountant
certified public accountant, cpa certified public accountant, irs taxes: Dear Janice; Thank you for your good question... There has been so many changes in the lending industry in the USA that you should contact a mortgage broker recommended by your Realtor in California. The lender will spell out to you the current requirements...

Buying or Selling a Home: Canadian buying property in California, buyer representatives, best bet
buyer representatives, best bet, joint tenants: Hi Janice, The best way to find a good Realtor in that area is to search the website rebac.net for agents in that area that are Accredited Buyer Representatives . This means they have passed a series of tests and specialize in working with Buyers. ...

Buying or Selling a Home: Changing Realtors, listing contract, compensation
listing contract, compensation, post contract issues: Hello Lisa - Listing Broker documents as required in Arizona by A.R.S. 32-2151 must include a beginning date and an ending date as well as an amount of compensation and signature of the parties to be a valid and enforceable document. The boilerplate of a listing...

Buying or Selling a Home: Co-borrowing for a family member, john hendricks, moments of time
john hendricks, moments of time, pang: Dear Pang; As long as your sister is on the deed and is using the home as her primary residence, this property would not be considered an investment property. How the IRS would consider your portion of ownership to be addressed is still the question. I...

Buying or Selling a Home: Compensation to buyer's agent, MLS, Compensation
MLS, Compensation, representation: Answering this from another perspective... you could say that the listing agent charges a fee for complete services (from listing, marketing, tracking, reporting, staging, negotiating, overseeing the inspection period, reviewing the title report, reviewing...

Buying or Selling a Home: Construction Lien, construction lien, contract workers
construction lien, contract workers, temporary help: As long as your attorney (I don t think much of him) is not willing to do anything, Christi, then contact your state board of contractors. They will make it so that either the contractor pays you or they will suspend his license. Then go and find a good REAL...

Buying or Selling a Home: child support judgement, credit card judgements, mike thanks
credit card judgements, mike thanks, hi mike: Hi Mike, Thanks for your question. You need to have a title search done. That will reveal all liens on the property. When you are selling your house the buyer will get a title search. The bank will not lend money for the purchase unless the title is...

Buying or Selling a Home: clear title, Cloud of the title
Cloud of the title: Dear Jeffrey; Thank you for your question. If the preliminary title report notes that there is a lien or judgment on the property, that would be considered a cloud in the title, and it may hamper the sale of your property. I am surprised though that...

Buying or Selling a Home: is it a cloud on title?, statement of information, closing escrow
statement of information, closing escrow, encumbrance: Your Realtor should have been able to explain this, Jeff. But almost every prelim has that kind of caveat. It is sort of a catch-all for anything they omitted in the title search. My suggestion is to actually have the title company explain to you just what...

Buying or Selling a Home: contract with listing agene, jessica bryan, adn
jessica bryan, adn, marketing: Dear Jane; You have the right to interview a prospective new agent but the new agent cannot and should not approach you first. That is unethical and considered soliciting a listing. So...if you want to seek out the agent to interview, it is fine as long...

Buying or Selling a Home: Dealing with the credit union and my realtor, jessica bryan, first time buyer
jessica bryan, first time buyer, property expert: Dear Rachel; Obtaining a loan requires lots of information sharing that is of a highly confidential nature. The fewer people involved the better. Many lenders refuse to even talk to the real estate agent unless there is a pass code given to them by the...

Buying or Selling a Home: Disclosure, home in lakewood, arbitration clause
home in lakewood, arbitration clause, small claims court: Yes, pest problems are supposed to be disclosed in your paperwork. The only way the Seller could get out of it is if they denied knowing there was a problem. Either way, contact your agent and have them contact the Seller s agent and let them know that you...

Buying or Selling a Home: Disclosure, residential property disclosure, property disclosure form
residential property disclosure, property disclosure form, water damages: Hi Jennifer, You would need to check with the Real Estate Commission of your State for your State’s disclosure laws. Different states may have different laws as they relate to statutorily-required seller disclosure forms and disclosure of material defects...

Buying or Selling a Home: First time buyer, first time homebuyer, jessica bryan
first time homebuyer, jessica bryan, first time buyer: Hi Nicole; It is increasingly easier from a few months ago to obtain a loan as a first time homebuyer with all of the incentives and a slight relaxation of lender money now. Still it is important that you have good credit but as far as the score...it depends...

Buying or Selling a Home: First time buyer looking for a cheap starter house, first time buyer, contaminated environment
first time buyer, contaminated environment, checking savings: Hey JOE-- You didn t just ask a question or two; you want a FIRST-TIME HOMEBUYERS COURSE 101! And I can help you with that: go to your PC and log onto the MORTGAGE BANKERS OF AMERICA Website (www.mbaa.org) and from its HOMEPAGE select CONSUMER EDUCATION...

Buying or Selling a Home: First time buyer looking for a cheap starter house, first time buyer, contaminated environment
first time buyer, contaminated environment, checking savings: Dear Joe; There are many sites that can walk you through the preliminaries of house buying but a good agent can be of more service than anything else you do. You can call a local real estate brokerage and ask the manager who is a first time homebuyer specialist....

Buying or Selling a Home: First time buyer looking for a cheap starter house, first time buyer, contaminated environment
first time buyer, contaminated environment, checking savings: Joe, I would suggest first getting pre-approved (vs. pre-qualified) if you are serious about purchasing. Starting the process at your bank where you already have accounts and do business would be an excellent place to begin. Do not go to multiple banks,...

Buying or Selling a Home: FSBO purchase, nasty divorce, estate knowledge
nasty divorce, estate knowledge, back taxes: This is a bit confusing, Guy, but I will try to answer the best I can. You re in Afghanistan, yet you waant to buy something in the northern part of Alaska, right? Boy, it does appear you want to get away from your divorce and any remnants of it, all right....

Buying or Selling a Home: Realtor Fraud?, small claims court, better business bureau
Buying or Selling a Home: Realtor Fraud?, small claims court, better business bureau, litigation costs

Buying or Selling a Home: finding info regarding sold property in CA, real estate agents, escrow
real estate agents, escrow, irs: First call the escrow company that handled the sale. Most likely that s how the IRS found out about it anyway - the escrow company is obligated to send a report of each sale to the IRS. If they can t help you, try calling the real estate agents that were...

Buying or Selling a Home: first time home, first time homebuyer, hud fha
first time homebuyer, hud fha, united states department of housing and urban development: BART-- You ve posed a very interesting question here! You are quite correct in that your 1974 Mobile Home--doesn t meet Federal Standards set in 76, not on a permanent foundation, still has the wheels attached ,is on rented land (a trailer space, in a...

Buying or Selling a Home: first time home, united states department of housing and urban development, gee whiz
united states department of housing and urban development, gee whiz, first time buyer: You virtually answered your own question, Bart. Yes, I agree with everything you offered. YOU ARE A FIRST-TIME BUYER. Gee, whiz, if nothing else, the fact that you pay rent on the land of your residence should indicate that you qualify as a first-time buyer....

Buying or Selling a Home: Ghost owner concerns, owner concerns, owner occupancy
owner concerns, owner occupancy, stable income: Barnett, If you are paying cash, just have the escrow company put your Sis s name on it....also put your name as legal owner, just in case something goes screwy in the future; this way you can protect your interest! The park will not know. Their concerns...

Buying or Selling a Home: HOME CLEANOUT AND CLEANUP IN LAS VEGAS, e mail addresses, mailing postcards
e mail addresses, mailing postcards, html email: Hi Jeanette, First I will tell you the worst way, which is telephone call. We get calls all the time (at least we used to when the market was hot) and it was super annoying. I think your first and best choice would be an email flyer. There are companies...

Buying or Selling a Home: Home purchase - information not disclosed, las vegas, homes
las vegas, homes, real estate: Hi Devan, You really need to look at your paperwork closely first to make sure that there was absolutely no mention of these tanks in anything you were previously given - preliminary title reports, real property disclosures, etc. It is likely that this...

Buying or Selling a Home: home buying, pre-possession, failure to close
pre-possession, failure to close, extension: Hello Chris - This situation can on two personas. First, it could be no problem, second, it could be a major crisis. The first, it could be this was an investor who acquired the property on a lease/purchase or agreement-for-sale which would require the first...

Buying or Selling a Home: investment home, cash flow analysis, foreclosure auction
cash flow analysis, foreclosure auction, best time to buy a house: Hello: Wow. Esther, try not to be overly offended, but you are hitting the all the high notes on the song, How not to buy a piece of property and lose your money 1) You bought from the listing agent direct. This should be reserved for professionals....

Buying or Selling a Home: LEASE W/OPTION TO BUY, lease option, written documents
lease option, written documents, real estate documents must be in writing: If you have a written, dated and signed (by you and owner) option, Mike, the owner would be selling that property subject to your valid option. If you only have that option verbally, you have nothing . . . maybe. See next paragraph. He can do as he pleases...

Buying or Selling a Home: Lien/encumbrance search on tax-defaulted properties, open escrow, steady customer
open escrow, steady customer, state governments: The individual state governments have cracked down a bit on title companies, so the title companies now charge for their services unless you are a steady customer of theirs and/or (like you found out) are in the process of buying a property and have an open...

Buying or Selling a Home: Life Estate, life estate, mr dennis
life estate, mr dennis, law case: Since you really have a law case here, I strongly suggest you hire an attorney to get him off your back. You gave him an informal life estate. That tells me none exists. Anything in real estate must be in writing. If it is not in writing, it was never said....

Buying or Selling a Home: loan processing leading into Underwriting, entry level position, mortgage professor
entry level position, mortgage professor, google: You should ask Jack Guttentag, the Mortgage Professor. He knows all there is to know about that end of the business. I just hope he is not too busy to reply. Just put his name in Google and it ll come up. You ll be glad he answered. I do wish you well. ...

Buying or Selling a Home: MLS, wordings, blank space
wordings, blank space, 7 months: I am sure you meant Exclusive Authorization and Right To Sell, Debra. Most listing agreements are the same and you should be aware that ALL listing agreements tell you that commissions are negotiable. Also, all listing agreements stipulate (they usually leave...

Buying or Selling a Home: mobile home $8000 stimulas, mobile home park, stimulas
mobile home park, stimulas, time home owners: Bart....I don t know about rebates, but the word you are looking for is real property . If your home is NOT on a foundation, it is NOT real property. This puts you in a totally different category for loan purposes. I would look at your state s HCD link....

Buying or Selling a Home: what are the options, jessica bryan, mortgage commitment
jessica bryan, mortgage commitment, deposit money: Dear Mayurj, You have a contract and it needs to be honored. I doubt that the seller would have agreed going in to the contract to lower your price if future sales came in at lower prices. It is sometimes unforeseeable and also a chance that you both take....

Buying or Selling a Home: Purchase for a Minor, time home buyers, first time home buyers
time home buyers, first time home buyers, tax expert: While the son may own property under the age of 18, he is not permitted to convey title until he is 18 or more. However, as for the rest of the question, Emoke, you really should consult with a tax expert, like a CPA or tax attorney. I wish you well. Dick...

Buying or Selling a Home: pros and cons of baving your home be unincorporated, pinellas county florida, trash pickup
pinellas county florida, trash pickup, police protection: Hey, Adriana. The pros are usually that certain taxes are lower, such as the various city taxes for schools, fire and police protection, trash pickup, etc. The cons are that you might pay seperately for those services. Other than that, I can t think...

Buying or Selling a Home: purchase Tax Defaulted Houses, collector auctions, mortgage balance
collector auctions, mortgage balance, payor: Your scenario is not likely to occur, Michael. Why? Because almost every lender (mortgagee) subscribes to a tax service. That tax service advises the lender that so and so s taxes have not been paid. So, even though that property owner has been up-to-date...

Buying or Selling a Home: Question about backing out of buying a house, contract states, addendums
contract states, addendums, housing loan: To answer your question; it depends. It depends on what your contract states. In general you could be sued for not following through with what you need to do in order to get your loan to work. You should pay special attention to any additional addendums...

Buying or Selling a Home: Quick Question, ssi disability, elderly father
ssi disability, elderly father, question question: Hey, Skyler. Go to http://activerain.com. Scroll down to the right side where you ll see states and cities listed. Scroll through the people you see listed and see if you find someone who you think can help you. I m over at ActiveRain as well, and I...

Buying or Selling a Home: Quit Claim/ Name off mortgage, long term relationship, loan docs
long term relationship, loan docs, jessica bryan: Dear Josh; You need to discuss this with an attorney to see what can be done. There are legal obligations when you sign loan docs that do not necessarily go away just because you sign off your interest in the property. I cannot give you legal advice but...

Buying or Selling a Home: I have a question hope you can help, black mold, window seal
black mold, window seal, second job: Hello Chyrstal. Sorry to hear about your experience. You need to do a Google search on Tenants Rights in **insert the name of your City/State* and then contact the appropriate city, county or state authorities regarding these issues. It looks like you have...

Buying or Selling a Home: Realtor Choice, pot plants, irrigation system
pot plants, irrigation system, time home buyers: Dear Jo; Thank you for getting back to me. Yes, I can help you through the process of getting an experienced Realtor for the job of finding you a home. If you would please e-mail me at JohnHendricks@Marin1.com with the following information, I can then...

Buying or Selling a Home: Realtor Fraud?, pressing charges, real estate agent
pressing charges, real estate agent, purchaser: Hi Jodi, Sorry for the delay in responding to your question. The All Experts’ system just notified me of your pending question, which I had not previously seen. If you have emails from your agent telling you the appraisal came in at $235,000, but it...

Buying or Selling a Home: Rent to own or lease option, option period, legal language
option period, legal language, lease options: Hey, Mary. Although I don t know what state you re in, you can do a lease option in any state unless something s changed. Something might have changed because lease options got a bad name about 20 years ago because of abuse. They can be tricky, so you...

Buying or Selling a Home: Getting ready to sell a home, deed transfer, family trust
deed transfer, family trust, tax basis: Before you do any property transfer of any kind, LaToya, I recommend you consult with a VA estate or real estate attorney to handle the transfer at the least amount of cost and concern with the IRS. The way you re doing it now, you may not only have to pay...

Buying or Selling a Home: repairs and upgrades before selling, sliding glass doors, french doors
sliding glass doors, french doors, necessary repairs: Hi Doug, good for you for rehabbing your house before you sell. This will give you more money in the long run. I recommend replacing the sliding glass doors with french doors, this is a more up to date look and you will see more return for your money. ...

Buying or Selling a Home: Selling our home, privacy fence, jessica bryan
privacy fence, jessica bryan, house sale: Dear Susan; Since the neighbor caused the sale to fall apart (can you prove that?)you might have grounds for a lawsuit but it is not for me to say. You need to consult an attorney to discuss your rights and how to proceed. Best wishes, Jessica Brya...

Buying or Selling a Home: Selling a home - moving overseas, sanjay, power of attorney
sanjay, power of attorney, selling a home: Hi Sanjay, As long as you have access to fax or email and can receive Fedex (or other carrier) you should be able to sign your own docs. If you do not feel comfortable giving anyone power of attorney do not do it. I suggest you call the escrow company...

Buying or Selling a Home: Selling Mnfg'd Home in Wa- buyer wants me to carry mortgage, deed buyers, lien holder
deed buyers, lien holder, motgage: Hi Ralph....forget the VA, as they will NOT make this type of loan, and certainly do nothing regarding credit repair! OK first off...if you still owe $$ on the home, the mortgage must be satisfied with the current lien holder. If you pay off the motgage.,...

Buying or Selling a Home: Septic System, septic system, gray water
septic system, gray water, dry well: Hey, Karen. Different states have different requirements. Some require a septic system clearance while in others it s a totally negotiable situation. Your Realtor should be able to help you. If you re not using a Realtor, with what you ve told me, quite...

Buying or Selling a Home: Septic Tank Issue, Survey, lot lines
Survey, lot lines, septic: Hello Michael - When issues regarding property lines are involved it is always appropriate measure to talk to the complainant neighbor first and see what the individual is looking for as a remedy.. maybe its just so you know its their property... maybe they...

Buying or Selling a Home: Short Sale of House with a Lien, question pool, jim root
question pool, jim root, luck jim: Miki-- What right do we have in this scenario? you ask! Considering the scenario, all one can say is You have the right to an Attorney! You need to get a Lawyer on your team ASAP. There s something wrong here, and only one authorized to practice...

Buying or Selling a Home: Starting out as a real estate agent, question pool, blood relatives
question pool, blood relatives, top producers: Dave-- Most of the Top Producers in the LA area are blood relatives of the very rich and/or famous. Your best chance of becoming a Top Producer is to find one of those Richie( or Richelle) Rich-types who needs a Personal Assistant and work with...

Buying or Selling a Home: Which Subdivision, decicion, personal preference
decicion, personal preference, private pool: Hello Jessica, thank you for your question. Personal preference is most important in this decicion. If this is more of a family community, the school might be a good attraction for resale. But either one sounds like a sound investment. Good luck to you...

Buying or Selling a Home: for sale as a land contract, land contracts, all inclusive trust deed
land contracts, all inclusive trust deed, installment payments: Hi Sofia, I don t know what state you are in, so please check with your lawyer... the land contract is simple enough ... you become the bank and carry the note and the buyer pays you... in California we call that an All Inclusive Trust Deed... keep in mind...

Buying or Selling a Home: seller late on 2nd, foreclosure, NOD
foreclosure, NOD, notice of default: Technically, Vickie, any TD is late on the day after the payment is due. You then may file a NOD (Notice of Default), although most TD holders would send a courtesy reminder of payment due within 15 days. Then upon no response or unsatisfactory response, you...

Buying or Selling a Home: selling a house on contract, mike dick, equitable title
mike dick, equitable title, buying a house: Yes, subject to the existing contract financing, Mike. Obviously, the one who has a house on contract cannot give his buyer title to the house, since he doesn t actually have the title. He only owns the property through equitable title. That means that should...

Buying or Selling a Home: selling price, dual agency, lack of representation
dual agency, lack of representation, appraisal: Hello Martha - There is no representation benefits to a dual agency scenario, rather quite the contrary. The market could be interpreted as improving with the understanding the increase in sales in due to the seasonal market and the new finance programs for...

Buying or Selling a Home: selling an upside down mortgage, fixed rate loan, mortgage question
fixed rate loan, mortgage question, 30 year fixed rate: His name is Bill Jenkins, Gayle. He and his wife are both CDPEs. They are very knowledgeable in helping your daughter. He is located in Henderson with Keller Williams real estate office. Please let me know how he is helping you. I wish you well. Dick Dennis...

Buying or Selling a Home: Transfer of ownership, Quit Claim, transfering property
Quit Claim, transfering property: Dear David; Thank you for your question and your patience for my response. No you do not need a Realtor for this type of transaction. Contact a title company in your area and ask to speak to an escrow officer. If you remember who you used when you acquired...

Buying or Selling a Home: termites, winged ants, pest control company
winged ants, pest control company, termite inspection: It s too bad you misread my reply, Madam. (Now that you have set the tone of my reply) You were nine years too late with your complaint . . . to the wrong person! You should have complained to the people who would do you some good . . . nine years ago. How...

Buying or Selling a Home: unfair practices during foreclosure in ca, foreclosure proceedings, disability retirement
foreclosure proceedings, disability retirement, dying of cancer: As much as I would like to help, Katey, you desperately need a good REAL ESTATE and/or ESTATE attorney to start to put everything back the way it should have been. This has morphed into strictly a law case. I can see in at least two areas in your story that...

Buying or Selling a Home: va home loans, home loan benefits, va home loans
home loan benefits, va home loans, jessica bryan: Dear Jeff; A VA benefit may have some restrictions and requirements that should be understood before beginning your search. Once you understand what they will need...who pays for what...etc. You should structure your offer on any home you decide on accordingly....

Buying or Selling a Home: 2nd home, existing mortgage, taxable gain
existing mortgage, taxable gain, tax gain: What I am about to disclose to you, Ted, I highly recommend you have a real estate attorney handle for you to make sure your and your daughter s interests are protected. Your loan on your 2nd home is not assumable, although you certainly may sell the...

Buying or Selling a Home: 3/26- follow up --adverse possession, adverse possession, squatter
adverse possession, squatter, belongings: I don t understand who you re saying the risk is for. You can be arrested for being a squatter, I doubt any police will put an owner in jail for evicting a squatter. I saw it happen right next door to me. When the squatter left the house the bank rep moved...

Buying or Selling a Home: Adding my girlfriend's name to title, john hendricks, dear johnny
john hendricks, dear johnny, refiance: Dear Johnny; Thank you for your question... There are a few things to think about before you add your girlfriend to the ownership of your property. I am not a Real Estate Attorney, nor a CPA... I am just a Realtor and can t legally advise you on the...

Buying or Selling a Home: Adding my girlfriend's name to title, grant deed, refiance
grant deed, refiance, county recorder: You may want to rethink this, Johnny. I can t count how many times people have regretted adding a girl or boyfriend to a title of a property only to have go through a lawsuit to undo it all. Relationships do change, as you know. However, if you want to do...

Buying or Selling a Home: Adding a person to my mobile home title, estate question, lots of money
estate question, lots of money, difficult times: This is really not a real estate question, Donna. But I will do my best to help you. This is not a real estate question if your mobile home is located in a park in which you are paying rent for your space. If it is located on a piece of land and you are paying...

Buying or Selling a Home: Builder said can't build the floor plan that we signed, foreclosure homes, wasting our time
foreclosure homes, wasting our time, building envelope: Hello Sujatha, Thank you for your question. It sounds like the builder accepted your request for plot and floor plan, but may have been turned down by the building department for some reason of not conforming to local zoning requirements based on your...

Buying or Selling a Home: Buying Foreclosure (murphy's law version), contract earnest money, mortgage companies
contract earnest money, mortgage companies, mortgage company: Ahhhhhh the joys of dealing with foreclosures. Do you wonder now why the mortgage companies were in trouble and losing money? nah. Who has the house listed now? Did you ask the agent what was going on? Did you ask the person who signed your contract what...

Buying or Selling a Home: Buying a Home/Financing, fha loan, cockeysville maryland
fha loan, cockeysville maryland, settlement money: I am a little confused by your question. If you put more money down on the house then you don t need to borrow as much. If you get a gift from someone (like family) you get a gift letter for the lender that explains your extra income to purchase the house....

Buying or Selling a Home: Buying a House by Owner, credit, non-recurring closing costs
credit, non-recurring closing costs, fha: Dear Susie; Thank you for your question... The best way to find out what your actual closing costs will be is by asking your Mortgage Broker to prepare a Estimated Closing Statement . It will identify what costs you would be responsible for at the close...

Buying or Selling a Home: Buying a house with boyfriend, contract details?, diligence, advice
diligence, advice, using an attorney: Hello Darcie - I apologize for the delay in my reply. When selecting an attorney it is imperative that they specialize in real estate. It is reasonable that you should proactively protect your interests in reducing future risk and exposure to litigation. Candidly,...

Buying or Selling a Home: Buying a REO, mold problems, mold problem
mold problems, mold problem, city of cerritos: First, I was told by my agent that they already have a few offers and are still accepting offers. So, since we re not in escrow yet and from what you ve said then I probably don t have much leverage with the five day inspection demand, correct? IF YOU...

Buying or Selling a Home: Buying and Renting Out A House, las vegas, real estate
las vegas, real estate, homes: Hi Caine! It is a great time to be buying in most parts of the country. And you can certainly own a home that has a mortgage on it and rent it out to someone else. But you will be buying the home as an investor rather than an owner occupant, so the down payment...

Buying or Selling a Home: Buying and Renting Out A House, buying a house, real estate agent
buying a house, real estate agent, good luck: Hello Caine. For an investor loan you will have to have between 20-25% down payment. You cannot rent the house out until you close on the transaction and own it(the bank holds a note on it if you get a loan.) The best way to find a house is with a real estate...

Buying or Selling a Home: Buying and Renting Out A House, buying a house, closing costs
buying a house, closing costs, good luck: It s going to be hard to get a mortgage on a second home unless you make a lot of money. I can t predict how much money it will take to renovate your potential new home, but closing costs will be approximately $10,000. No, you can t rent out a home you don...

Buying or Selling a Home: Buying and Renting Out A House, local realtors, advance preparations
local realtors, advance preparations, buying a house: Hello Caine, Thank you for your question. Owning real estate as an investment is great. You should try to do it. Before you can rent out or renovate a property you need to own it. You can certainly make advance preparations for renovation before...

Buying or Selling a Home: Buying and Renting Out A House, jessica bryan, buying a house
jessica bryan, buying a house, process of buying a house: Dear Caine; It all depends upon whether or not you can qualify for a loan for the remaining amount of money you must borrow in order to purchase the income property. I suggest that you contact a lender to get pre-qualified and to discuss your options, monthly...

Buying or Selling a Home: Buying and Renting Out A House, mortgage company, buying a house
mortgage company, buying a house, money down: If you buy a house, you can rent it out. Most loans for investment properties will be different than a loan for your primary residence. You ll be required to put more money down, etc. You should contact a Realtor that works with investment properties. ...

Buying or Selling a Home: Buying and Renting Out A House, time loans, real estate investment
time loans, real estate investment, subprime market: Dear Caine; Thank you for your question. I can really appreciate your desire to start the process of owning a portfolio of rental properties to help financially secure your future. You have to start somewhere and now if you can afford to buy a piece...

Buying or Selling a Home: Buying and Renting Out A House, buying, selling
buying, selling, fixing: Hi Caine... you actually have a couple question in this question... First congratulations on wanting to buy income property... your lending situation is different than we have here in California where I am... to buy income property we are more at a 20-25%...

Buying or Selling a Home: Buying my son's condo in a short sale, deficiency judgment, party act
deficiency judgment, party act, tax consequences: Dear Bob; Thank you for taking the time to submit your question, and I appreciate your patience in waiting for my answer. I have been involved with a business venture in Mexico which has taken much of my time and I am just getting around to my e-mails....

Buying or Selling a Home: bidding on a house, john hendricks, broker manager
john hendricks, broker manager, bidding on a house: Dear Terry; Thank you for your good question. Yes it is, although ethically the Realtor may want to disclose the situation to each of the clients prior to writing the offer. If the Realtor is representing the Bank in the sale of the property, it is their...

Buying or Selling a Home: breached contract, legitimate reason, earnest money
legitimate reason, earnest money, althea: Dear Althea, Thank you for your question. I work in New York so I am not up to speed on New Jersey rules. In New York, if one defaults on the contract the seller can keep the escrow money. It sounds like you are willing to give up your deposit to...

Buying or Selling a Home: how to buy a home before selling, home downpayment, knowledgeable realtor
home downpayment, knowledgeable realtor, mobile homes: The question you ask, Barb, is one that has been a problem for home buyers and sellers for time immemorial. How to buy before I sell? Especially in this kind of down market, it is verrrrry difficult. First of all, you most likely will not get what you think...

Buying or Selling a Home: buying a home, real estate broker, credit score
real estate broker, credit score, mortgage broker: I m sure there is, Michael. You need to do two things. You have done them already, but you need to do a more determined effort. 1. Find a lender and it does not have to be a bank. There is a mortgage broker out there some place in Florida that can find the...

Buying or Selling a Home: buying a house, first home buyer, first position
first home buyer, first position, buying a house: What the Realtor has told you is that a buyer and seller have already agreed to a sale of that property, Tiff. Now they wait for the buyer to qualify for a new loan and the closing. It may be or may not be subject to the buyer qualifying for his/her loan for...

Buying or Selling a Home: buying real estate, jessica bryan, yonkers ny
jessica bryan, yonkers ny, dear sam: Dear Sam; The exclusive right to represent simply means that the agent is not competing with any other agent to represent your daughter in the buying of a home. The agent will represent her best interests. However, the daughter should make sure that the...

Buying or Selling a Home: buying out siblings in joint owned home, deed of assent, asbestos siding
deed of assent, asbestos siding, home improvement loan: Hi Dee, What you need is money to finance this house, so I doubt that a lawyer would be able to help you any more than a good lender. I don’t understand your mortgage specialist telling you the best route for you is a cash-out refinance, when you stated...

Buying or Selling a Home: California property taxes, california property taxes, top priorities
california property taxes, top priorities, california attorney: Hi Sheila- I am sorry about your brother-in-law. I may not be the right person to answer this but if property taxes work the same way there as they do in Virginia- a quick call to the county tax assessor s should be able to let you know- sometimes they even...

Buying or Selling a Home: Closing Delay By Purchaser...leading to Additional Seller Costs, failure to close, extension
failure to close, extension, negotiating: Hello Robin - I apologize for the delay in my reply. You are correct. First, you have the right to consider the terms under which you would be willing to enter into an extension to the close-of-escrow. The fees it will cost you to delay the close is reasonable...

Buying or Selling a Home: closing problems, intelligent answer, mr dennis
intelligent answer, mr dennis, possesion: I am sorry, Kathleen, but it doesn t seem I ve been given the whole story. Therefore, I cannot give you an intelligent answer. For example, is there another agent in the picture? How was it possible for him to get you to sign if you objected to at least a...

Buying or Selling a Home: Deeding or gifting house to relative, tax expert, aol
tax expert, aol, tax attorney: We re getting close, Judi. Apparently when you gave your half of the property to your daughter YOU DID NOT record the change in title. Therefore, you actually never gave your daughter your half of the property. Otherwise, you would still not be shown as half...

Buying or Selling a Home: Ethics, negotiation period, mandatory disclosure
negotiation period, mandatory disclosure, referral fee: Dear Jillian: OK, but with disclosures. Many states have a mandatory disclosure form that states that agent may make offers for more than one buyer on the same property. All parties sign that. What is imperative is that it is fully disclosed UP FRONT,...

Buying or Selling a Home: Etiquette, medical supply store, footie socks
medical supply store, footie socks, buyer client: Hi Sophia, If you know that your listing client does not want shoes worn in their home, I would get some of those surgical slippers (you can get them at a medical supply store and they are inexpensive) to put in a basket by the front door along with a note...

Buying or Selling a Home: First time home buyer tax incentives, time home buyers, time home buyer
time home buyers, time home buyer, first time home buyers: The tax credit from the state of California is only applicable to new construction, to my knowledge. Here is a faq page for the federal tax incentive: http://www.federalhousingtaxcredit.com/2009/faq.php This money is a tax credit, they don t give you...

Buying or Selling a Home: Foreclosure and HOA, errors and omissions insurance, foreclosed home
errors and omissions insurance, foreclosed home, title insurance: Actually, Jeanine, the registration of a HOA in any particular neighborhood is probably the second thing recorded on the property s title (property taxes are first). So, you really cannot escape that. However, the seller, whoever it is, has a responsibility...

Buying or Selling a Home: Help!, stay at home mom, fha programs
stay at home mom, fha programs, debt issues: Hi Lisa- Thanks for the question. There is always a light at the end of the tunnel. I would suggest that you talk to a loan officer about your options. I doubt there is anything immediately that you can do but they should be able to help you with a plan of...

Buying or Selling a Home: HOA violation, monetary allowance, hoa board
monetary allowance, hoa board, conflict of interest: Hi Jan, Sorry to hear of your problem. I hear complaints about homeowner associations frequently. If you want to try and make some changes in your subdivision, get a copy of your HOA Bylaws and see how many votes it takes to change the restrictions....

Buying or Selling a Home: Get out of House Buying Contract, new homes, las vegas
new homes, las vegas, real estate: Hi Nathan, This is not a crazy question at all. You have every right to be concerned about the neighborhood, especially if the builder who started the development has gone bankrupt since you signed the contracts. You can choose to not close on the home,...

Buying or Selling a Home: home improvement loan, home improvment loan, home improvement loan
home improvment loan, home improvement loan, lenders: Hello Antia, Thank you for your question. Lenders cannot discriminate based on age. If she has equity in the home and good credit she should be able to get a home improvement loan. If she passes away the loan would be secured by the property and...

Buying or Selling a Home: Incompetent realtor, escrow agent, escrow account
escrow agent, escrow account, department of real estate: DEar Betty: You are in a very frustrating position. I do not care that your agent is a friend of your Mother, still sit down and talk at a meeting with her, her manager (or office owner) and yourself. Explain all of the above, and how you are not being...

Buying or Selling a Home: Legal, bank foreclosures, buying foreclosed properties
bank foreclosures, buying foreclosed properties, purchasing foreclosures maryland: That s the problem; I don t know if you d be able to recoup any damages at all. The bank s addendums are to protect the bank from liability and state as-is throughout. I would think you would have to prove that the bank knew about it but even then, the...

Buying or Selling a Home: landlord selling property, jessica bryan, financial incentive
jessica bryan, financial incentive, legal matter: Dear Bettyann; I often get questions that are about, or have something to do with the signed contract. It is difficult to advise about something I haven t read; that requires a legal review and is a legal matter. What I can tell you is if there is no wording...

Buying or Selling a Home: Making an offer on another house while having a purchase agreement on another, lease option agreement, lease purchase agreement
lease option agreement, lease purchase agreement, rejection letter: If you signed a lease/purchase agreement it should state that the contractg is contingent on financing/loan approval. If you cannot get financing then you should be able to get out of the contract. Again, I have not read it and don t know the language it...

Buying or Selling a Home: Maximize impact without spending much, home stager, faux marble
home stager, faux marble, paint colors: Hi, I am in Leesburg VA so not too far from Bethesda. The kitchen sounds very nice. It s nice to have silver knobs on your cabinet doors in case you don t already have them. If you have area rugs, I would try to use them as much as possible in the...

Buying or Selling a Home: No Mortgage Committment/Termination, intentional misrepresentation, fha loan
intentional misrepresentation, fha loan, mortgage commitment: Hi Jeanette, If your Contract of Sale is SUBJECT TO the Buyer obtaining financing; you do NOT grant her an extension; and she does not have loan approval in time to close by June 30 or any contract extension period stated in the Contract -- in the normal...

Buying or Selling a Home: mineral lease bonus, mineral rights, interest
mineral rights, interest, contract: Hello Larry - Clearly if the deed conveyed to you indicated the mineral rights were to convey to you, and prior to, during or after you entered into contract and subsequently closed, the seller entered into a contract that if it closed would have altered your...

Buying or Selling a Home: multiple offers and checks, fha loan, coldwell banker
fha loan, coldwell banker, reo property: Dear Colleen, I thought I had sent my response but aparently you did ot receive it. I would suggest that you immediately set up an appointment with your former agent s manager or office owner and explain the situation in which you have been placed due to...

Buying or Selling a Home: Names on Title of home, fha loan, joint tenants
fha loan, joint tenants, mortgage lender: No problem, Pat. As long as she is on title with you as, say, Joint Tenants, the house will be completely hers if something should happen to you. The loan will not affect her taking title to the house. Guaranteed. And if you have enough life insurance or...

Buying or Selling a Home: offers, sellers agents
sellers agents: Hello April, Thank you for your question. Offers are generally passed from one buy and that buyer s agent directly and confidentially to the seller s agent and seller. Normally the offered prices are not disclosed to other agents and buyers are expected...

Buying or Selling a Home: Property purchase, square foot requirements, roof pitch
square foot requirements, roof pitch, architectural review board: Now you know why you would be getting that property for such a steal, Sarah. Nobody wants that land, especially with all those requirements. No, these requirements are not normal. That person who developed that land was a very impractical man. He was also...

Buying or Selling a Home: Purchasing a home, purchase contract, sacramento area
purchase contract, sacramento area, future home: Dear Rozalyn; Thank you for your question... When dealing with a short sale the investor may request a certain title company to work with...It may take a day or so after the acceptance of your offer. If that is not the case, your Realtor will open escrow...

Buying or Selling a Home: Real Estate, life estate, life tenant
life estate, life tenant, sister 2: You solved your own question, Audrey. I Think that is a very good solution, as long as everybody agrees. But you should understand the responsibilities of being the remainderman and life estate tenant. The life estate tenant is required to maintain the house...

Buying or Selling a Home: Real Estate agents commission, jessica bryan, real estate agent
jessica bryan, real estate agent, real estate agents: Dear Pat; It is most common for the real estate agent to get paid from the proceeds of the sale before the Seller gets their money. There are costs that are taken out and one of those costs is the commission that is distributed to both the Seller s agent...

Buying or Selling a Home: Real Estate Ethics - Buyers, buyer, representation
buyer, representation, exclusive: Hello Jillian - The National Association of REALTORS Code of Ethics (available at relator.com) does not reference this issue. Article 1 however does indicate that the REALTOR must always protect and promote the interests of their client. But before we answer...

Buying or Selling a Home: Real Estate Etiquette, oriental trading company, paper shoes
oriental trading company, paper shoes, stocking feet: Hi Ken, Yes there have been times where the seller wants shoes off, does not supply booties, and I (and others) were not in stocking feet... so yes we have been barefoot... Again, as a seller... your call on this.. out our way not an issue to anyone......

Buying or Selling a Home: Rent to Own, rent to own maryland
rent to own maryland: Your first step would be to discuss your situation with a mortgage broker and see how long it will take to be able to qualify you to get another mortgage. Being self employed is a problem in this market as it is very difficult to get a stated income loan,...

Buying or Selling a Home: Rent to Own, national home buyer, time home buyers
national home buyer, time home buyers, first time home buyers: Hello Kee. I do not know about the articles in the Rip Off Report. There are legitimate rent to own contracts. Usually it is a home seller that can t sell their home at the current time for what they want. The rent to own is just a contract between you...

Buying or Selling a Home: Rent to Own a home from my parents, comparative market analysis, mortgage paper
comparative market analysis, mortgage paper, schedule of payments: Hi Angela, A Rent to own contract is possible, but not used very much in my area. I ll explain why. Most people wouldn t mind getting enough to pay what they owe monthly on the property, but most need the down payment to be large enough to buy their next...

Buying or Selling a Home: real estate closing and vacating property, dear diana, jessica bryan
dear diana, jessica bryan, time days: Dear Diana; Laws and practices differ from state to state, so you should carefully discuss moving procedure with your agent. Of course, you will need time to pack up but usually this can occur slowly over time. You can begin boxing unused items now and...

Buying or Selling a Home: real estate lawyer, undisclosed easement, real estate lawyer
undisclosed easement, real estate lawyer, jessica bryan: Dear Ash; If you have concerns, then by all means hire a different lawyer! Explain to your real estate agent that you feel uncomfortable using a family member and that you prefer choosing someone with more experience. The agent should abide by your decision....

Buying or Selling a Home: Is what my realtor did illegal?, legal recourse, repair cracks
legal recourse, repair cracks, hard rain: It doesn t sound good anytime there is replacement of verbiage after you have signed anything. But, you will also need to be able to prove that. If you really think that this was done with out your consent, go to an attorney for advise on your legal recourse....

Buying or Selling a Home: refund of earnest money if the house doesn't appraise, fha 203k loan, department of financial institutions
fha 203k loan, department of financial institutions, fha loan: Hi DON-- Whether or not an Earnest Money (EM) Deposit is REFUNDABLE or NON-REFUNDABLE depends on the verbiage of the Purchase & Sale Agreement/Contract between the Buyer and Seller of a property. Most of these CONTRACTS are written with a FINANCING CONTINGENCY--that...

Buying or Selling a Home: rescinding offer, house price, home inspection
house price, home inspection, recourse: First of all you need to really read the contract. Especially the part about your home inspection and what the timeline is to change your mind if you are not happy with the results. It sounds like you opted to take the house with whatever issues the inspector...

Buying or Selling a Home: Seller can back out of contract with amendment?, assignment, substitution of buyer
assignment, substitution of buyer, modifications: Hello Sapna - The issue is one of changes, modifications or alterations to the contract rather than assignment since you are remaining on the deed and HUD-1 Settlement Sheet. To answer this question more completely you will need to review your contract for...

Buying or Selling a Home: Selling for commercial price, strip plaza, commercial appraiser
strip plaza, commercial appraiser, commercial brokers: Dear Deb; I am frankly surprised that you have not already been contacted by a commercial broker regarding this property. If I were you I would have a commercial appraiser do an appraisal first and then begin to call some commercial brokers to let them know...

Buying or Selling a Home: Selling old home as commercial, strip plaza, real estate broker
strip plaza, real estate broker, desirable property: Dear Deb: It is my opinion that you are being penny wise and dollar foolish to not go through a real estate broker. You may end up costing yourself a lot of money simply because you have neither the knowledge of how to sell a commercial or residential offering...

Buying or Selling a Home: Selling old home for commercial, selling commercial, house in commercial zoned
selling commercial, house in commercial zoned, waiting for buyer: Have you ever heard the adage, He who wants it most, loses ? If you act like you re anxious to sell, especially in this down market where even commercial properties are sinking, then you will not get what you re hoping for your property. Be very patient....

Buying or Selling a Home: Sewer easement, easement area, concrete patio
easement area, concrete patio, storage building: Nisha, The areas in sewer easements are still usable by an owner, but you generally cannot build anything permanent in the easement area – even, say, a concrete patio. If you were to build a concrete patio, it could possibly have to be broken up to get...

Buying or Selling a Home: Shoe Etiquette, colorful pair, home thanks
colorful pair, home thanks, boker: Hi Sophia- Thanks for the question. This isn t exactly a boker s question but it is fun! Personally, I would not go barefoot in my client s house for a couple of reasons but primarily because it is not hygenic (for you or them). I would get a fun (and colorful)...

Buying or Selling a Home: Signing over half interest of property, sizable piece, divorce attorney
sizable piece, divorce attorney, rocky times: Very simply put, Chris . . .yes. But there is a caveat. He may deed his 50% (or whatever percentage he owns) to anyone he chooses. However, there are a couple things your divorce attorney may address with the judge. One, is that since your husband has already...

Buying or Selling a Home: Sold house, new owners sue over septic size, bankruptcy attorney, septic tank
bankruptcy attorney, septic tank, person family: Hi Pennie, I am so sorry for the delay in responding, but your question never came to my email and All Experts has just advised me that your question is still pending. If your parents have already been through litigation and lost based on fraud, there...

Buying or Selling a Home: Staging, granite countertops, formal dining room
granite countertops, formal dining room, tile flooring: It might be worth doing granite countertops in the bathrooms. Any kind of solid surface stone would be nice, including for the kitchen. Is your vinyl flooring up to date (ie looks like stone/tile)? I think that buyers want a home that they don t have to...

Buying or Selling a Home: Structrual Damage, carpenter ants, brokerage company
carpenter ants, brokerage company, fianc: Hi Beth, I am assuming that your fiancée received “some” kind of disclosure on his house, but just nothing on what you have described. The first thing your fiancée needs to try and do is establish when the plywood was applied behind the siding and over...

Buying or Selling a Home: selling to a family member, FSBO, escrow instructions
FSBO, escrow instructions, for sale by owner: Hello Carolin - Please accept my apology for the late reply. The least expensive way is to use an Escrow/Title Company and tell the escrow officer your terms and they will create escrow instructions which will act as a contract. Second, when financed, the...

Buying or Selling a Home: selling a home, selling a home, signatures
selling a home, signatures: Hey, Debbie. It depends on what state you re in because some states treat it differently. Generally, though, he can sign a listing agreement to obligate both of you, but both of you eventually will have to sign the various documents authorizing sale...

Buying or Selling a Home: selling house to son, old adage, mortgage trust
old adage, mortgage trust, delores: First of all, Delores, I think you are being foolish and are asking for trouble in the future if you do not put your agreement on paper. The old adage, In real estate, if it is not in writing, it was never said, applies very well here. All it takes is for...

Buying or Selling a Home: selling a mobile home, mobile home dealer, mobile home dealers
mobile home dealer, mobile home dealers, desirable area: Hi Shelby, I would suggest first that you obtain written estimates for correcting everything that needs to be repaired. Then I would reduce the price of the mobile home by the total repair amount and try to find a buyer. You might want to contact some...

Buying or Selling a Home: short sale tenat rights, short sales maryland, home buying maryland
short sales maryland, home buying maryland, renting maryland: Are you still under a lease? There are a lot of things that can happen in your situation. If the property is being sold as a short sale, the owner may still be paying the mortgage so it may not actually be in pre-foreclosure status. You don t necessarily...

Buying or Selling a Home: Tenant Rights, definite expiration, edith lank
definite expiration, edith lank, renting an apartment: Hi Jennifer, You stated that you are on a month to month agreement, and have been in this house for 9 years. You also stated a concern that the landlord is not giving you enough notice to show your apt. Also that the land lord fails to properly secure the...

Buying or Selling a Home: Tenants in a Short Sale trying to buy the unit, lease ends, keeping your money
lease ends, keeping your money, foreclosure: ARE YOU SURE IT IS A SHORT SALE AND NOT A FORECLOSURE? THEY ARE VERY DIFFERENT. IN ONE INSTANCE YOU RE DEALING WITH THE OWNER AND THE BANK HAS APPROVAL RIGHTS, IN THE OTHER IT S JUST THE BANK. WITH THE AUCTION DATE SO CLOSE, I WOULD ASSUME IT S A FORECLOSURE....

Buying or Selling a Home: Townhouse, investing, townhouse
investing, townhouse, condo: Hi Gary, A Condo and a Townhouse are similar in that they are both in a planned community, usually have HOA s, common area ie: pathways, parking structures, pools, tennis courts etc... on the scale of value, a Townhouse trumps a condo... usually due to...

Buying or Selling a Home: taxes on property sale within trust, tax implications, grantor
tax implications, grantor, poor health: Cliff, Your question is not possible to answer as the tax code is very complex. It depends on multiple factors, including income of the beneficiaries and trustees. You should consult a tax advisor. I know enough to know that I can t answer it. Mat...

Buying or Selling a Home: title insurance, land, title policy
land, title policy: Margaret - I apologize for the delay. Discussion of title policy is considered practicing law and therefore I am unable to answer your question as you posed it. Although, rather than rejecting your question outright there is significant importance and value...

Buying or Selling a Home: upside down on mortgage, local realtor, s real estate
local realtor, s real estate, bank mortgage: In today s real estate market, Shane, it is very doubtful you will be able to get even what you owe on your mortgage. You are now going to have to really ask yourself what you should be doing. If you can still afford your payments, then I recommend you continue...

Buying or Selling a Home: window coverings, wooden blinds, window coverings
wooden blinds, window coverings, purchase agreement: Hi Andra- Thanks for your question. I don t know what state you are in but the rule is whatever your contract says. If your listing agreement says they convey, then they convey. Same thing with a purchase agreement or contract. If the contract specifies they...

Buying or Selling a Home: acquiring clear title, ninth person, real estate broker
ninth person, real estate broker, aol: It is my opinion, Gary, you should not buy the eight parts until you have agreed to purchase the ninth. You should do it this way: You get an option to buy the property from each of the eight parties. An option should have a closing date of execution, and,...

Buying or Selling a Home: can I ask one more?, real estate contracts, earnest money
real estate contracts, earnest money, purchase contract: Why was there only 500 in escrow? It should have been 3%, and you would be keeping a portion of that for your costs and damages. Tell the other agent you re not only going to keep that 500 but you will be suing for more. That makes me very mad. They have all...

Buying or Selling a Home: Bats, bat removal, home inspector
bat removal, home inspector, transfer disclosure statement: Welcome to the responsibility of home ownership, Thad. I suppose you could press upon the previous owner, and/or your Realtor who helped you buy the house, to take care of the problem. But for $1,200 it most likely would be less expensive for you to just take...

Buying or Selling a Home: Bought a double wide did i get scammed?, jessica bryan, recipts
jessica bryan, recipts, estate question: Dear Samuel; While this is not a real estate question (real estate being property that is attached to the land) I wanted to give a quick answer that yes...you were scammed! Your neighbor needs to have some legal persuasion. Make sure that you have copies...

Buying or Selling a Home: Buying Half A Home, jessica bryan, co ownership
jessica bryan, co ownership, joint tenants: Dear Jason; Go to an attorney and have him/her draw up a legal document for the purchase of 1/2 interest in the home along with title as joint tenants or tenants in common depending upon what it is that is recommended to you by the attorney. Once this new...

Buying or Selling a Home: Buying a Home, local city, death records
local city, death records, city government: If someone has passed away in a home within the last 3 years the agent is required to disclose this information, otherwise you d have to do your own investigation to find out. This would involve accessing police and death records from your local city government....

Buying or Selling a Home: Buying Home with others, rental investment, best bet
rental investment, best bet, operating agreement: Your best bet, Michael, is to convene everybody into a local knowledge real estate attorney and put out on the table exactly what you want in a purchase agreement and under what conditions and events remedies are agreed to. My guess is the attorney may suggest...

Buying or Selling a Home: backing out of selling my house, buy subject to sale of existing house first, sell subject to successful purchase of new house
buy subject to sale of existing house first, sell subject to successful purchase of new house: If you had a Realtor helping you with either the purchase of the new house or the sale of your existing house, then that person is not the professional that should have guided you through this, Lori. First of all, you should not have offered to buy the...

Buying or Selling a Home: backyard bad smell and sewer undisclosed by seller, home insp, storage room
home insp, storage room, bad smell: Hi Julie, Sorry to hear about your problems with the back yard smell and sewer. My first question is, did you have a home inspection performed? I understand that you purchased “as-is,” but you still should have been entitled to an inspection. If you...

Buying or Selling a Home: bidding on a home, Listing expiration, compensation
Listing expiration, compensation, placing an offer after listing expires: Hello Karen - Sorry for the delay in my reply. The answer to your question is Probably but it depends . This depends not on you but the sellers contract with the agent who had the house listed when you first placed the offer, and or subsequent listing agents....

Buying or Selling a Home: Should i buy a house?, inflation, increasing taxes
inflation, increasing taxes, job losses: There are a lot of factors involved. You don t say where in California your are? 1. 100-150K in southern California won t buy much of a house. Or probably elsewhere in California either. So you might wind up with a house that would cost you a lot of money...

Buying or Selling a Home: Should we buy or keep renting?, buying, selling
buying, selling, downpayments: Hi Hillary, Congratulations on your wedding... that is exciting news!... On the buying of your first property... DO NOT RUSH... never make snap decisions unless the deal is toooooo good to pass up.. and only through educating yourself will you know that...

Buying or Selling a Home: buyer deposit, residential purchase agreement, negative cash flow
residential purchase agreement, negative cash flow, real estate transaction: While buyer s have unremoved contingencies their deposit is protected. Normally, we as agents keep track of the contingency dates and make sure they are removed. If buyers refuse to remove you can continue along if they can t remove for a good reason and...

Buying or Selling a Home: buying in brooklyn, mr weber, fluency in english
mr weber, fluency in english, nyt: Caro Heitor, Gracias para sua pergunta! Once you have used a Realtor to find a property to buy you will need to sign a contract. For this purpose you will need a lawyer to review them with. I am sure you can find a Portugues speaking one through the...

Buying or Selling a Home: buying home, tax ramifications, mortgage company
tax ramifications, mortgage company, circumstances: Hi Sonya- I have never heard of this. Why would they offer to settle your mortgage for so little and under what circumstances? I would need to understand the circumstances and more importantly any conditions in order to possibly tell what kind of liability...

Buying or Selling a Home: Changing mind twice, open escrow, reo property
open escrow, reo property, verbal agreements: Dear Erica; Thank you for your question Erica. It really depends on the contract. If this was a short sale acceptance, then yes seller or investor could bounce you out of primary position anytime up to the close of escrow. If you are purchasing an REO...

Buying or Selling a Home: Contract Termination, cancellation of contract, expired listing
cancellation of contract, expired listing, obligations to contract: Hi Rob, I am sorry to hear your home has not sold after 1 year actively marketed on the market. No, you do not have an obligation to your current broker/brokerage after the termination date.... The listing will expire ... unless you or your agent...

Buying or Selling a Home: commission on real estate, property owner, real estate agent
property owner, real estate agent, showings: There is no difference between cancelling the listing and cancelling the contract if it is known that the contract you re referring to is the listing, Arianna. If there is no reference to the property owner having the right to cancel the listing WRITTEN...

Buying or Selling a Home: My Deposit Check, agent banks, profitable deals
agent banks, profitable deals, state of michigan: Hello Ibrahim- Thanks for your question. A lot depends on your contract but in general, unless there was a definite deadline that the bank had to respond by and if you had a ratified contract, you could lose your deposit for changing your mind. However,...

Buying or Selling a Home: dispute over my late mother's house, probate lawyer, probate attorney
probate lawyer, probate attorney, executrix: I am sorry to report to you that you need to engage a REAL ESTATE attorney who will force the sale of the property in court. And it may take a while before the case is settled (you know how attorneys and courts are). Therefore it may screw up your buyer s...

Buying or Selling a Home: Earnest Money, earnest deposit, refund
earnest deposit, refund, earnest money: Hello Kevin - I apologize for the delay in my reply. Simply yes, if your offer was not accepted then the check should not have been deposited in escrow and should still be in the possession of your broker. It would be reasonable to refrain from giving your...

Buying or Selling a Home: elderly home, revocable living trust
revocable living trust: It is strongly suggested, Judy, that you take this matter to a local ESTATE attorney. The attorney would most likely make sure that the other 5 children do not want any interest in your mother s house. Plus the conveyance of the title to the house would be...

Buying or Selling a Home: home buying, appraisal contingency, cash buyer
Buying or Selling a Home: home buying, appraisal contingency, cash buyer, closing cost

Buying or Selling a Home: foreclosure, first time buyer, no doubt
first time buyer, no doubt, sylvie: Since it is a first home, which one of you gets to take the $8,000 tax credit on your tax return for being a first-time buyer, Sylvie? Don t be deceived. The house will be worth exactly what you paid for it -- $27,000, and that is what the county will...

Buying or Selling a Home: good faith money deposit, earnest money deposit maryland, buying home maryland
earnest money deposit maryland, buying home maryland, new construction home maryland: Hi Johnathan, I m not sure what kind of deal you got into. In the standard Maryland Realtor Board contract, there is always a financing contingency when a buyer needs to get a loan for a house. They will put down a good faith deposit of a couple thousand...

Buying or Selling a Home: Home inspection problems.., roofing company, gunk
roofing company, gunk, roofers: Hind sight is always 20/20, but you should never let the Realtor select your inspector. It is very important that you select your own home inspector and make sure he does a very detailed inspection, and works only for you. You need to contact a real estate...

Buying or Selling a Home: Home search website, desoto county mississippi, jessica bryan
desoto county mississippi, jessica bryan, mls members: Dear Brandi; There are a number of good websites for home searches. There is not an all-inclusive one since there might be some homes that are for sale by owner, along with independent non-mls members who have listings; but the closest thing to all-inclusive...

Buying or Selling a Home: Home title, revocable living trust, original mortgage
revocable living trust, original mortgage, tax consequences: First, I want to express my condolences, Judy. I have been married 55 years, so I know your loss can be difficult. By now, I hope things are starting to fall into place for you. Depending on how you held the title with your husband, Judy, it may not be...

Buying or Selling a Home: Getting A House Without Buying It Right Now..., public notary, notary public
public notary, notary public, flag number: Hi Hector- Thanks for your question. This is loaded! I would like to compliment you on being a model tenant but I am getting a lot of red flags here. First- have you had the house appraised? He may be offering to do this for you because the house is worth...

Buying or Selling a Home: Getting A House Without Buying It Right Now..., public notary, landlord
public notary, landlord, orlando florida: Hector, you definitely need to have a REAL ESTATE attorney handle this for you if you want to make sure your interests are protected. Keep on looking and asking where you can find a good RE attorney. You can ask a Realtor manager in a real estate office and...

Buying or Selling a Home: hello, las vegas, nevada
las vegas, nevada, real estate: Hello Kenneth! We are telling everyone we are having a half price sale in Las Vegas! :) Yes, prices have come down about 50% all over the Valley. (Or up to 60% on the higher end properties.) But it looks like perhaps we have found the bottom. Things...

Buying or Selling a Home: home buying, appraisal contingency, fha appraisal
appraisal contingency, fha appraisal, sign states: Hi Lindi, FHA Appraisal Contingency documents basically state that the subject property being purchased must appraise for at least the sales price as reflected on a Contract of Sale. If the property appraises for MORE THAN the sales price, that is simply...

Buying or Selling a Home: home disclosure form, seller disclosure statement, friable asbestos
seller disclosure statement, friable asbestos, legal recourse: Dear Lucas; The homeowner may have known that there was asbestos siding but it would be difficult to prove. If the Sellers deliberately withheld information on the seller disclosure statement and you could prove it then you would have grounds for legal recourse....

Buying or Selling a Home: home purchase agreement, cooling off periods, legal recourse
cooling off periods, legal recourse, jessica bryan: Once you signed the purchase agreement it became a contract and aside from some of the contingencies in the contract it is a legal and enforceable agreement. I suggest that you contact an attorney to discuss your options. The buyers have legal recourse when...

Buying or Selling a Home: Keeping existing tenants, rental associations, investment situation
rental associations, investment situation, rental investment: Dear Mel: A question that can be answered by asking the tenants to show you a copy of their lease. The lease probably had commissions paid to the company/agent who listed the property who then paid the company/agent who found the tenants. The lease may...

Buying or Selling a Home: LIEN, debt to income ratios, lienholder
debt to income ratios, lienholder, luck jim: Hey TREMAYNE-- When a Mortgage Loan is used to purchase a Home, the Mortgage MUST be in the first position. that is the first lien against the Property and/or the Borrower. Closing with ANY liens against the Borrower would put the Mortgage in a second,...

Buying or Selling a Home: Living on a golf course, wrought iron fences, motion sensors
wrought iron fences, motion sensors, guard dogs: Dear Liz; I would advise that you check with the local Sheriff or police department and talk to them about crime in your area. They can provide you with statistics and incident reports. If you are concerned about this, there are other measures that can...

Buying or Selling a Home: Mobile Home Registration, registration question, century mortgage
registration question, century mortgage, owner occupancy: Hi E Well, the escrow agent should have known that this would be an issue...after all, they do the titling! The title and reg. are both HCD docs., and you can t change either. As I said, I would let it go for several reasons; 1. Parks book keeping...

Buying or Selling a Home: Mold, due diligence, remediation
due diligence, remediation, selling a home: Dear Bart, Usually the best answer is that if you have to ask if you should disclose then you should disclose. If the mold has been remediated the buyer will have the opportunity to do whatever due diligence they want and it comes up later and become a...

Buying or Selling a Home: Offeror/inspection, minute consultation, legal contract
minute consultation, legal contract, purchase contract: Hey, Tammy. Without knowing what state you re in, without reading the contract you signed with your Realtor, and without reading the purchase contract, it s extremely difficult to answer that. There are just too many variables. The best thing you can...

Buying or Selling a Home: Private sale of House, property signs, trustor
property signs, trustor, trust deed: In what state is the house located, Annie? It does make a difference. In some states when the seller of a property finances the sale, it is a note and deed of trust. In some states it is a mortgage. Each state has different remedies to correct defaults by...

Buying or Selling a Home: plumbing problems after closing, pin hole leaks, legal recourse
pin hole leaks, legal recourse, plumbing problems: Sorry Brian; The reason you get a home inspected is to get expert advice on the condition of the home. Certainly the inspector has no way of knowing what may break, leak or malfunction but can give an educated guess by looking at the age or condition of...

Buying or Selling a Home: Q, stable income, property buyer
stable income, property buyer, time property: Dear Sam; First, let me say that there are restrictions to the first time buyer program and you must complete the purchase before December (which gives you little time). I suggest strongly that you speak with a local agent familiar with the area in which...

Buying or Selling a Home: Questions about short selling of our house, private mortgage insurers, mortgage insurance program
private mortgage insurers, mortgage insurance program, existing mortgage: XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX NEW INFO--The DOD is starting a program called HAP, (that stands for Homeowner s Assistance Program) and will help both DOD Civilians and Military folks who MUST move. Go on-line, search...

Buying or Selling a Home: Quit Claim Deed, jessica bryan, claim deed
jessica bryan, claim deed, financial obligations: Hello John; A quit claim deed will apply to rights of ownership but does not free your wife of any or all financial obligations. In order to do so you must go through an attorney and purchase her share of the home which would include paying off the existing...

Buying or Selling a Home: Quit deed, seperate parcels, warranty deed
seperate parcels, warranty deed, claim deed: A little back ground to make sure we are both on the same page. A lot is legally subdivided when a survey has been completed delineating the 2 separate parcels and that has been recorded with the county. If that has been complete all you need to do is...

Buying or Selling a Home: questionable realtor, iron wood, wood stove
iron wood, wood stove, buyers agent: Hi Eric, If your Contract of Sale included language that specific items of personal property and/or fixtures were to remain with the house and they were removed, you have recourse against the Seller – and your buyer-agent as well if he/she purchased the...

Buying or Selling a Home: Real Estate Agent Protocol, buying, selling
buying, selling, investing: Congratulation on finding a property you wish to consider to purchase... I will assume you know your agent was going out of town, and that no arrangements were made to work with one of her associates in her absence? You also do not mention when she will...

Buying or Selling a Home: Realtor doesn't want us to lower price of our home, neighborhood market, government assistance
neighborhood market, government assistance, government program: Hi SARA-- First let me address the government program you refer to. I assume that it s the Homeowner s Assistance Program (HAP) that s the program sponsored by the Department of Defense (DOD) and administered by the US Army Corps of Engineers. The program...

Buying or Selling a Home: Residential 1 Commercial 2 Zoned, interested buyer, commercial basis
interested buyer, commercial basis, square footage: Hey, Melany. Your problem is quite common, and there are two things you can do: (1) Have it appraised. A good appraiser will know how to make adjustments for lack of comps and other differences such as renovation, square footage, and income apartment....

Buying or Selling a Home: refinance/mortgage 2nd REQUEST, liquid assets, settlement fees
liquid assets, settlement fees, value of my home: I answered tbhis question the FIRST time you sent it--but I wrote the answer three times and our newly revised AllExperts system kept deleting my replies whenever I spell checked them. After several HOURS of writing, rewriting and frustration, I sent you...

Buying or Selling a Home: should i remove aspestos before i buy a house, gee whiz, tin foil
gee whiz, tin foil, purchase agreement: No, Gianna. It is not something you should do because you are not the owner . . . yet. Definitely make it a condition of your purchase of the property. You should insert a contingency into your purchase agreement (gee whiz, your Realtor should know this)....

Buying or Selling a Home: Sell only part of my property, zero down payment, mortgage balance
zero down payment, mortgage balance, sixteen acres: Hi Julia, In order to sell a portion of the acreage you now have packaged in a mortgage with your custom home, you will need a Release from your mortgage company. Depending on what your current mortgage balance is, and the value of your home and eight...

Buying or Selling a Home: Seller is backing out on us - 2 weeks til close, delaware county pennsylvania, default clause
delaware county pennsylvania, default clause, binding document: Hi Tom, Sorry to hear your Seller is trying to renege on your Contract of Sale. A properly-executed Contract of Sale to purchase real property is a legally-binding document. Neither party can simply “walk away” without legal cause or the consent of the...

Buying or Selling a Home: Selling a home, closing costs, selling a home
closing costs, selling a home, escrow: It s not typical for the seller to pay the buyer s closing costs. Typically each pays their own. You can ask them to credit you a certain amount toward your closing costs but it s not typical unless they are desperate. Escrow can give you an estimate but I...

Buying or Selling a Home: Short Sale, time constraints, mortgge
time constraints, mortgge, fannie mae: HI JAN-- I ll answer your last question first. I d walk away from purchasing a Short Sale BEFORE I got involved in one. No, I wouldn t walk away..I d run! Short sales need not only the Homeowner/Seller s approval, but the lenders and FHA.VA, Fannie...

Buying or Selling a Home: Short Sale, buying, selling
buying, selling, multiple offers: Hi Catherine, You are correct to think that the short sale home is not an actual accepted offer... not a loophole, since the offer is not official as of yet... be sure a short sale addendum goes out that states in the effect... no deposit or escrow or inspection...

Buying or Selling a Home: Short selling questions, dear jennifer, real estate sale
dear jennifer, real estate sale, northern florida: Dear Jennifer; The best resource to discuss your short sale is with the bank with whom you have the loan. They will have to approve this. It is not an easy process and much depends upon your financial situation. Certainly if you are facing the possibility...

Buying or Selling a Home: Short selling questions, twenty four months, credit time
twenty four months, credit time, northern florida: Hi Jennifer, I’m very sorry to hear that your home has decreased in value and that you will need to sell by next summer when your husband is due to be transferred. You are not alone, as the numbers of people in similar situations are frightening due to...

Buying or Selling a Home: Short selling questions, northern florida, foreclosure
northern florida, foreclosure, realtor: First of all, Jennifer, it is not likely you would be able to do a short sale without a Realtor. But it should be a Realtor who has a good record of doing many short ssles. Be careful, because some Realtors do not do or don t want to do short sales because...

Buying or Selling a Home: Short sold house, professional advice, ramifications
professional advice, ramifications, accountant: Dear Alisa: Are you in-laws willing to put your names on the title? This could be an issue with them, so I hope that they have asked advice of their lawyer and/or accountant. If the purchase is totally one hundred percent cash, then there is no lender involved...

Buying or Selling a Home: Can I sell a half of my house?, third mortgage, economical crisis
third mortgage, economical crisis, account questions: Yes you can if you are the only recorded owner of the property, Maryla. But it is not going to be as simple as writing that sentence. The tax value may not be an indication of the value of your property. You really need to get a more succinct value of it because...

Buying or Selling a Home: to sell or not to sell, jessica bryan, real estate broker
jessica bryan, real estate broker, humble texas: Hello Christy; Was that a typo or do you really only owe $8400 on the house. If so, I don t know why you are paying so much per month. I think that you could try to refinance to lower your monthly payments. If that is out of the question then selling may...

Buying or Selling a Home: seller responsibilities on canceled contract, small claims court, settlement date
small claims court, settlement date, person sign: Dear Danielle: I am so sorry to learn about this problem. However, as I do not have copies of the actual documents, I can only respond with that in mind. Also, short sales are historically very problematic and many buyers thus do not wish to deal with...

Buying or Selling a Home: selling, buying, selling
buying, selling, contingancy: Hi Pan... congratulations on wanting to own real estate, I feel for the long run, real estate is a wonderful tool to build wealth, but as you can also see... the market will make corrections as we are in semi free fall depending on where you live, but no matter...

Buying or Selling a Home: selling and buying a home, investment, capital gains
investment, capital gains: Hello Am - First, the disclaimer! This question should be asked also of a financial planner, tax CPA, and possibly a real estate attorney so that you can receive proper advice from all sectors being effected by this proposal. I am not an attorney, CPA or financial...

Buying or Selling a Home: selling a home that is in foreclosure, knowledgeable realtor, foreclosure action
knowledgeable realtor, foreclosure action, unemployment issues: It seems that I can help you so that you do not lose the house, but I now need to get more information: 1. Describe the house to me (how many bedrooms, baths, location, etc.). 2. What is the address? 3. Who lives in it? 4. After the $3,600 is paid off,...

Buying or Selling a Home: selling property, jessica bryan, family trust
jessica bryan, family trust, jac: Dear Jac; Even though I would think that the answer would be the same as entering into a contract with individuals, I can t be sure in all states and areas. I recently represented a client who purchased a home through the family trust and the contract was...

Buying or Selling a Home: selling a small professional office building, jessica bryan, trust laws
jessica bryan, trust laws, professional office: Dear Peni; Due to anti-trust laws we are not permitted to discuss what a normal commission would be...in fact,there is no set fee. Every fee is negotiable. If there is one agent charging a certain percentage, another might be charging a set fee and a third...

Buying or Selling a Home: can i be sued after selling a property for an inspectors negligence, buying, selling
buying, selling, investing: Hi Penny... well here is the thing... anyone, can sue anyone, at any time, for darn near anything.... So ask yourself... is $814.00 + the cost of a home warranty $400.00 a better price to pay? ... I would say yes! ... The home inspector is not a god,...

Buying or Selling a Home: Taking over morgage, escalation clauses, mortgage balance
escalation clauses, mortgage balance, contract terms: Hi Jose, If you want to legally take title if you take over the payments, you would have to contact your friend’s mortgage company and ask if the mortgage is assumable. Most mortgages are not assumable now. There might be another option available for...

Buying or Selling a Home: Tenants in Common if only one on mortgage?, title deed, girl friends
title deed, girl friends, title company office: Very simple, Tim. Just add her name to the title in any manner you choose. The lender has no right to dictate to you who can be on title AFTER you obtained the loan. Go into your nearest title company office or real estate attorney office to make sure it is...

Buying or Selling a Home: tax sale, delinquent tax sales, delinquent tax sale
delinquent tax sales, delinquent tax sale, delinquent taxes: Bob, I assume your question relates to purchasing properties at a delinquent tax sale. When properties are sold for delinquent taxes owed, it is my understanding that the successful bidder is usually the one who charges the least amount of interest on...

Buying or Selling a Home: title deed, curiosity sake, title deed
curiosity sake, title deed, county recorder: Ask any title company, Clar. But why do you need it? The title to your house is always in the public domain at the county recorder. The only time you actually need it is for curiosity sake, when you are financing your house or selling it to prove you are the...

Buying or Selling a Home: water bills on property, water bills, water bill
water bills, water bill, water company: Very simple, Gail. This is what I would do: Talk with the water company. They no doubt would arrange with you to have you pay the bill upon you selling your house. In the meantime, have a plumber fix that leak so your bill doesn t keep climbing. It seems to...

Buying or Selling a Home: $8000 tax credit, Tax Credit, First-time homebuyers
Tax Credit, First-time homebuyers, down payment assistance: *************************************************** Hector (UPDATE) - This is a revised answer to your question! The President did Thursday sign a bill that included the extension of the Tax Credit! There are some new details surrounding the qualification...

Buying or Selling a Home: Agent/Seller Oblilgations, multiple listing service, aol
multiple listing service, aol, amount of time: It depends, Mike. Assuming the listing agreements in Canada are similar to those here in the US, a listing agreement usually specifies that if you sell the property to someone who was introduced to the property by any agent who had shown the property and participates...

Buying or Selling a Home: Appraisal, knowledgeable person, mortgage broker
knowledgeable person, mortgage broker, broker license: It s one of the negatives of home-buying, Elizabeth. They ordinarily do not refund those kind of fees during a purchase process. However, if it will give you any satisfaction, you need not share the result of those inspections with the seller unless he is...

Buying or Selling a Home: Arizona nightmare, Property Taxes, delinquent
Property Taxes, delinquent, back taxes: Hello Renee - Begin by understanding exactly what period the tax lien is for and the exact amount they say is owed. You may find the issue is with the Pima County Assessor and not title. Then again, if it is an escrow issue almost always the local escrow officer...

Buying or Selling a Home: Buy a property w/lein on it..., buying homes in maryland
buying homes in maryland: You would have to ask as far as what the lienholder would take. It s anyone s guess as to what a seller will accept for a property. Has this property been vacant all this time? You want to make sure not to overpay just because there is more owed on it by...

Buying or Selling a Home: Buying Cash Deal in Florida from FSBO, local real estate, closing cost
local real estate, closing cost, fsbo: I would be glad to help you and walk you through your transaction, Tim, but be aware real estate attorneys handle most of the transactions in Florida, so you may as well find yourself a good local real estate attorney and have him or her guide you through...

Buying or Selling a Home: Buying Out Inherited House, real estate lawyer, sure what kind
real estate lawyer, sure what kind, saving money: Sure, you could do it all yourself, Tina, but would you really want to? You do not know for sure what kind of liens, if any, were on the property while your parents (or the persons from whom you are inheriting the property). To make sure this is done correctly,...

Buying or Selling a Home: Buying, then selling..., buying, selling
buying, selling, investing: Hi Vilma, Congratulations on getting the property paid off... no small endeavor these days... Your question about selling the property is a little more complex... 1. your bought the home as your sole and separate property..but have you and your husband...

Buying or Selling a Home: breech of contract, breech of contract, sisters real estate
breech of contract, sisters real estate, legal recourse: Dear Sandy; If the contract is set up in such a way that the closing date is a hard and fast date, then the only thing that your sister can do is to contact her attorney and threaten legal recourse. When the buyer does close there should be fees and penalties...

Buying or Selling a Home: buyer trying to back out of offer to purchase, hot water heater, first time buyers
hot water heater, first time buyers, time home buyer: Technically, Greg, the buyer could back out if the inspector found anything wrong. You have to realize that buyers are a jittery lot. They always look for an excuse for backing out of deals. Us Realtors are constantly fighting this problem with first-time...

Buying or Selling a Home: buying a home, buying selling, investing
buying selling, investing, financial: Hi Esther, Congratulations on considering the purchase of residential property! Now is an opportune time for many to purchase a home. There are tax incentives to be considered if you are able to close in time (the $8,000 tax credit), but in the end you...

Buying or Selling a Home: buying a house, unfulfilled loan contingency
unfulfilled loan contingency: Hi Rich - Fabrication of a false value falls under Truth in Lending laws. As a seller or a buyer the strength of your representation will determine your interpretation of the sale acquisition fairness. Properly represented you should feel the system is working...

Buying or Selling a Home: buying/selling land in VA, fredericksburg va, parcels of land
fredericksburg va, parcels of land, niece: Hi Holly- Sorry to be so long in responding, I have been in the hospital for over a week. I live near Fredericksburg (Orange) so this one is relatively easy- it just depends on the county regs and how many times it has previously been subdivided. Check with...

Buying or Selling a Home: So. Calif. appraisal, comp analysis, value of my property
comp analysis, value of my property, income approach: The California Department of Real Estate regulates appraisers. I would start by calling them and getting advice. Because this is a value opinion it s very vague and recourse is very difficult. I think it needs to be pointed out to the lender that there...

Buying or Selling a Home: concealment, first rain, roofing contractor
first rain, roofing contractor, unrelated problems: Hey, Scott. It s possible, especially in Texas since the TREC licenses home inspectors there. Remember that the home inspector is on your side, so call him first and have him come out and document the condition and, possibly, explain how it could happen...

Buying or Selling a Home: how to get deed from Veterans Affairs?, title insurance company, warranty deed
title insurance company, warranty deed, address county: You really don t need the deed from the VA, Eric. If you are not willing to hire a real estate attorney to keep your mind at ease, all you have to do is to go down to the county hall of records or courthouse (or whatever they call it in your county) and tell...

Buying or Selling a Home: delemma, Exclusive Buyer Representation, Procurring Cause
Exclusive Buyer Representation, Procurring Cause, Estrangement: Hello Bud - Please accept my apology for the delay in my reply. Contract law indicates that if they signed the contract they will be held to the contract, unless they were under duress at the time they signed it. Duress is defined by Black s Law Dictionary...

Buying or Selling a Home: Encroachment, adverse possession claim, underground pipes
adverse possession claim, underground pipes, legal principle: Hi Anita, You should consult with an attorney for legal advice on this matter, but I will give you a general answer. For whatever it might be worth, ask your attorney about the legal principle of adverse possession, wherein if someone uses another’s...

Buying or Selling a Home: ESCROW REFUND, small claims court, fha loan
small claims court, fha loan, time home buyer: Yes, Laz, you can take the agent and/or his boss, the manager of his office, to small claims court. I would go and talk to the manager of the agent s office and tell him/her you intend to take this matter to small claims court. Be sure to give them a letter...

Buying or Selling a Home: FHA loan, fha case, fha mortgage
fha case, fha mortgage, fha loan: Your email address was not printed, Ryan. I recommend you send it to me at my email address: dixiedee13@aol.com, just in case allexperts.com is deleting it for whatever reason. If you do not see my email address in this note, then I know for sure. Dic...

Buying or Selling a Home: FHA (Termite/Moisture Inspection NOT required), home inspection contingency, fha appraiser
home inspection contingency, fha appraiser, mold inspections: Depending on the wording of your contract, it can cover wood-destroying infestations . Again, depending on your contract, you probably can walk without penalty if the sellers don t agree to work with you on this and your agent should point out to their agent...

Buying or Selling a Home: First-Home Worries, special warranty deed, claim deed
special warranty deed, claim deed, company b: This doesn t seem kosher to me, Vanessa. In Florida, they use attorneys to close transactions. Why don t you go to and ask these questions of THAT attorney? If there was no attorney, then I strongly recommend you consult with a REAL ESTATE attorney to iron...

Buying or Selling a Home: First-Home Worries, special warranty deed, due diligence
special warranty deed, due diligence, claim deed: Hey, Vanessa. Part of buying a house, especially one advertised for sale as is, is doing your due diligence in covering all bases that pertain to the house. One of those bases is a permit history search. Apparently, no one advised you to do permit history...

Buying or Selling a Home: First-Home Worries, legal counsel, real estate
legal counsel, real estate, deed: Hello Vanessa - Sorry for the delay in my reply. My recommendation is to immediately contact a real estate attorney. (1) There is a requirement for Seller Disclosure of known, or should have known, conditions and issues with a residence. Disclosure is still...

Buying or Selling a Home: First-Home Worries, special warranty deed, claim deed
special warranty deed, claim deed, company b: Dear Vanessa; Florida laws are sometimes quite different than other states. Consequently the things that I know for my area may not apply to you. I suggest that you call the closing attorney you used and discuss with him/her. I do know that in foreclosures,...

Buying or Selling a Home: First time home buyer, kitchens and baths, hvac systems
kitchens and baths, hvac systems, time home buyer: Hi Heidi, Older homes maintained and kept in good condition have good resale values. I don’t know the statistics, but I would guess that the vast majority of homes in the US could be classified as “older” – at least those built in the 1987 and post-era...

Buying or Selling a Home: Fraud,lack of forthrightness when purchasing a home, seller disclosure, disclosure forms
seller disclosure, disclosure forms, forthrightness: Hello Margaret, Thank you for your question. In New York where I am it is law for the well water to be tested by a licensed company and the house cannot be sold unless the results are acceptable. Who did the test for you? Do you have the report for...

Buying or Selling a Home: Fraudulent Sell of town house, upfront monies, contingency basis
upfront monies, contingency basis, water hose: This is a problem best solved by a good local real estate attorney, Robert. As long as you have the written evidence of the fraud, you should have no problem and perhaps the attorney will be willing to take the case of a contingency basis. There is nothing...

Buying or Selling a Home: Sellng rental propety, landlord tenant laws, landlord rights
Buying or Selling a Home: Sellng rental propety, landlord tenant laws, landlord rights, eviction proceedings

Buying or Selling a Home: (FOLLOW UP QUESTION). false disclosure on disclosure statement, raw sewage, disclosure statement
raw sewage, disclosure statement, sewer bill: I agree with you, Jim, but please remember I am no attorney, but then, the seller s attorney is not a real estate attorney. Yes, I can tell. She specializes in sending out letters to scare off possible suits. There is one thing you probably should do: go ahead...

Buying or Selling a Home: first home purchase, west haven ct, termite treatment
west haven ct, termite treatment, termite damage: Hi Manjula, As you have learned, a termite “treatment” does not necessarily mean that all termite damage was corrected. Since this house was treated in July 2009, if I were you, I would assume that the house is now under a RENEWABLE, TRANSFERRABLE termite...

Buying or Selling a Home: Gift of Equity to a non-relative, equity, buying
equity, buying, selling: Hi Melissa, In answer to your basic question Can your fiance s mother give you a gift, of equity(?) prior to your marriage? Any one an give another person a gift of monitory value...ie: money, real property, personal property, title, stocks, bonds,...

Buying or Selling a Home: Hedging bets, contingency period, hi john
contingency period, hi john, great solution: Dear Melinda; Yes, your Realtor is possibly correct. Your deposit should be secure until you release your contingencies, including your loan contingency if there is one in your contract. Depending on the the way the contract is written, you can very...

Buying or Selling a Home: HOA Failure to disclose, HOA, CC&R
HOA, CC&R, failure to disclose: Hello Scott - The property will need to comply with the Architectural or CC&R s no matter who owns the home. Of course, I would imagine your desire is to hold the appropriate party accountable for the costs associated with bringing the property into compliance....

Buying or Selling a Home: HOA Restrictions, ornamental aluminum fence, estate fencing
ornamental aluminum fence, estate fencing, wooden fencing: Yes, I do recommend you attend the HOA meetings, Dayna, especially if they permit members to stand up to voice opinions or complaints. I don t think you truly know for a fact that the other fences were put up illegally or without the permission of the board....

Buying or Selling a Home: Home Contract, jessica bryan, home contract
jessica bryan, home contract, month and a half: Hi Matt; I cannot give legal advice, but I doubt that you have a case against the bank unless they deliberately are delaying; which is something that would be difficult to prove. If the contract gets canceled or if you are damaged by the delays, then there...

Buying or Selling a Home: Home ownership transfer, mortgage payments, claim deed
mortgage payments, claim deed, home ownership: Hello, Your aunt can Quit Claim Deed you the home for around $100. If you do that though, you would have ownership and she would still be on the hook for the ~200k mortgage. 95% of lenders these days won t let you assume mortgages, so you wouldn t be...

Buying or Selling a Home: Home unlivable, crap hole, due diligence
crap hole, due diligence, loan contract: Stephanie, You really need to contact an attorney to see what rights you may have. If the inspector was missed the fact that the plumbing was in really poor condition your only option might be to sue. It is the buyer s responsibility to do their due diligence...

Buying or Selling a Home: home investment, appraisal value, home investment
appraisal value, home investment, buying a house: Most homes sell quickly that are good buys. The best thing you can do is hook up with a good REALTOR in your area and they can send you the good buys as they come on the market because they will only last a few days. I can recommend one if I knew where you...

Buying or Selling a Home: homeowner disclosure responsibilities, short sales maryland
short sales maryland: Your son and his wife are in a very unfortunate situation that is all too typical nowadays. Normally tenants move out as soon as they find out the house is in a short sale situation because they are worried about being homeless. I am surprised that they...

Buying or Selling a Home: INCOME TAX on sale of gifted home, 1031, exchanges
1031, exchanges, buying: Hi Jason... Your question is spot on but your how it happened is a little fuzzy... Now I am not a tax expert nor can I give advise for taxes... but basically... Your mom owned a home for 70 years, she Signed it over to you ? Quiet Claimed? and one...

Buying or Selling a Home: investment home, investing, buying
investing, buying, selling: Hi Ester... You have plenty of time to gather funds and purchase... we have not foreclosed on the 5 year adjustable hybrids, and then we have the 7 year to get through... additionally as long as the government keep putting the industry in moratorium status......

Buying or Selling a Home: Joint tenancy, Statue of Frauds, specific performance
Statue of Frauds, specific performance: Hello Kay - Of course every transaction is different therefore it would be impossible to state that I have experienced this before. On the other hand, I have been in the situation where only one of the sellers signed the listing agreement, and when the offer...

Buying or Selling a Home: Lack of funding, maryland home financing, maryland home buying
maryland home financing, maryland home buying: You made an offer on a foreclosed property. In the bank addendums, there is normally an are that says if you settle past the expected closing that you ll pay a certain amount of money for each day past that day. The last one we did was a $75/day penalty,...

Buying or Selling a Home: Lien on property after 1099c issued, property management company, income tax return
property management company, income tax return, cancellation of debt: Hi Nancy, Your question is more of a legal and/or tax question. I am not up-to-date on this topic, and I am not qualified to give you legal or tax advice…sorry. It does, however, sound like you have done “all the right things.” I think the question...

Buying or Selling a Home: Life estate, life estate, proceeds
life estate, proceeds, girls: Wow! In Texas those life estates are just that.....life. I would get an attorney to answer that question, it would probably take a court action to force the sale. Bless your heart, maybe assure her you will always be there, I know I would hate to lose my...

Buying or Selling a Home: AS IS, NAR, Code of Ethics
NAR, Code of Ethics, Article 12: Hello Katie - The Virginia Association of REALTORS is a great place to start. The issue for the REALTOR is the National Association of REALTORS Code of Ethics. Article 12 indicates that a REALTOR is to be truthful in all advertising as to prevent an unclear...

Buying or Selling a Home: lien, county property taxes, escrow payments
county property taxes, escrow payments, mortgage bills: First of all, Renee, you do not want to lose your home to a tax lien. So, you must pay it yourself and be sure to keep all receipts of all charges and costs. Then you are going to sue the Title Company in Small Claims Court as long as the tax amount is less...

Buying or Selling a Home: Not listed as, fha appraisal, fha loan
fha appraisal, fha loan, moisture damage: In my opinion, Kathy, the listing agent did not violate any laws. He/she may have been a bit derelict perhaps because of failure to ask the seller if the house is to be sold as-is, but a good agent would never have left the answer to that question dangling....

Buying or Selling a Home: Moisture from sloping concrete patio, decay wood, john mckenna
decay wood, john mckenna, wood destroying insects: I would advise that you have a qualified Professional do an invasive inspection in all areas that are affected by moisture or could be close to those areas (moisture can flow and spread out). Moisture can be conducive to fungi-mold, decay, wood destroying...

Buying or Selling a Home: mortgage purchase, good faith estimate, loan origination fees
good faith estimate, loan origination fees, apples to apples: Judy, Your follow-up question should properly be addressed to a lender, as I do not try to stay up-to-date with their credit scoring and requirements. Sorry I’m not much help with this, but any good lender can answer this for you. Regards, Elizabeth...

Buying or Selling a Home: need to know, riding lawn mower, spider infestation
riding lawn mower, spider infestation, full disclosure: 1. The value of a home is the amount of money someone actually pays for it. The value that a Realtor places on it is only a price opinion. Value is the selling price. 2. I would assume that someone signed a property Disclosure depending on your State Law,...

Buying or Selling a Home: neighbors, true motivation, good neighbors
true motivation, good neighbors, bad neighbors: Hi Paul- Sorry to be so long in responding, I have been in the hospital for over a week. My answer is to go introduce yourselves to your potential neighbors as just that and you may be amazed at what may come come out (good or bad) with very little prompting...

Buying or Selling a Home: Offer, Buying from a FSBO, open escrow, real estate transactions
open escrow, real estate transactions, realtor real estate: Hey, Tim. The mere fact that you are asking these questions means that you need a Realtor. Real estate transactions are very involved, and if you don t do things right during the transaction, you can be left with lots of headaches and expenses after the...

Buying or Selling a Home: Phony listing, uniform residential landlord, landlord and tenant act
uniform residential landlord, landlord and tenant act, national association of realtors: Dear Jeffrey, Thank you for your question. It is possible that the Realtor and homeowner might be in violate of the Uniform Residential Landlord and Tenant Act of 1972. Google it. You may choose to drop the dime on them and call the National Association of...

Buying or Selling a Home: Purchasing a home, builder developer, comparable sales
builder developer, comparable sales, market values: Hi Barry, I apologize for the delay in answering. My daughter had surgery earlier today due to an accident, and most of my time for the previous couple days has been spent with her. Your best protection to ensure you are not overpaying for a home is...

Buying or Selling a Home: property tax liens, property tax liens, luck mike
property tax liens, luck mike, private transactions: Hi Beverly...2 things, if you have copies of the transfer papers and cancelled check, you can try to contact HCD in California. If not, your only hope is to go to the Calif. state website, click on Housing and Community link...find the Ombudsman info, call...

Buying or Selling a Home: Q, stable income, property buyer
stable income, property buyer, time property: You do not say how old you are, Sam. You do not say in what part of the US you would like to buy a house or income property. The answer to both of those questions is important if you have ideas of having tenants above or below you and expect to prepare for...

Buying or Selling a Home: Q, First Time Home Buyer, Tax Credit
First Time Home Buyer, Tax Credit, Incentives: Hello - Many of the points you made in your explanation should be discussed with your tax advisor, a financial planner or possibly even an attorney. Short of investigating these different areas of specialty would render any opinion useless on its own merit....

Buying or Selling a Home: Quick Question, loan modification, care giver
loan modification, care giver, last question: Skyler, The first thing I would do is contact the lender and explain the situation and see what they will do to help. If the lender will work with you it is certainly better to pay the money and keep the house. Did you get the letter from the lender or...

Buying or Selling a Home: Quick Question, redemption period, publication period
redemption period, publication period, taking possession: To answer your question more intelligently, Skyler, I would have to know how much is your scheduled payment and the unpaid balance along with the value of the property, based on the comparables in the area. In Nevada, you have approximately six months from...

Buying or Selling a Home: Just quick question, desert town, tax basis
desert town, tax basis, property owner: Hey, Shawn. There are too many variables for me to answer such a broad question. It will be dependent on many factors, such as your tax status, the property owner s tax status, and the tax basis of the property, just to name three. Additionally, since you...

Buying or Selling a Home: Real Estate Nightmare!, errors and omissions insurance, new carpet
errors and omissions insurance, new carpet, new hardwood: It is real estate agents like that that give a bad name to our profession, Sherrie. That agent had the opportunity to protect you and blew it. She knew darn well, that the transaction should not have closed with that kind of damage. She should have immediately...

Buying or Selling a Home: Real estate title, tina, dick
tina, dick, real estate title: Anybody can own real estate and accept title transfer, Tina. It s just that they cannot legally transfer title to anyone until they are 18. I recommend you consult a real estate attorney to make sure whatever you are planning re: a minor owning real estate...