About Experts Sitemap - Group 8 - Page 4 2014-09-16

Buying or Selling a Home: real estate, what a bummer, sister brother
what a bummer, sister brother, broker associate: Hi Trish, What a bummer of a situation! You will need to speak with a Real Estate Attorney regarding your question, as it will depend on how you took title to the home. Under some circumstances you would be legally allowed to market and sell your SHARE...

Buying or Selling a Home: renters rights, maryland real estate
maryland real estate: I m not sure how your lease reads. The standard Maryland lease that we use is basically a fill-in-the-blank contract and it states that the rent is due on the 1st of the month and you are to pay a late fee if the payment isn t made by the 5th of the month....

Buying or Selling a Home: what rights does a buyer have before closing, qwner's rights, signage
qwner's rights, signage: No, it s still your house until you walk away from the closing with the check. If you don t want the sign there, remove it. Are you selling this house on your own or do you have a real estate agent? If you have an agent, that agent has a right to keep a...

Buying or Selling a Home: Selling home - notice to tenants?, buying, selling
buying, selling, representation: Hi Leona, I am a California Broker, here we do not HAVE to give notice, but usually a tenant will find out one way or the other, we do have to follow tenant laws on entry, eviction, and lease agreements. There are ways to buyout leases and the such,...

Buying or Selling a Home: Selling a house, warranty deed, deed of trust
warranty deed, deed of trust, company person: Nope! That title company person was trying to cover their behind because someone shouldn t have removed your name without your permission . . . and they know it. Title companies DO make mistakes. Believe me, it has happened to me a couple of times and I...

Buying or Selling a Home: seller disclosure omission deliberate fraud?, wet insulation, roofing companies
wet insulation, roofing companies, roof leaks: Hello Heather, Thank you for the details. This sounds like the seller is responsible for covering up the damage and mold rather than curing or repairing it. The home inspector would not look inside the walls, but some do have equipment to measure...

Buying or Selling a Home: selling/buying mortgage, escrow fees, sales commissions
escrow fees, sales commissions, real estate broker: Dear Marilyn: Just because I have never heard of that happening, does not mean that it cannot. However, today s qualifications for a loan are a lot more stringent than they were yesterday. I would suggest contacting your mortgage company that holds the mortgage...

Buying or Selling a Home: selling an occupied rental house, selling occupied home maryland, selling home maryland
selling occupied home maryland, selling home maryland: You have a problem. You will never sell that house with that type of renter inside. Since you are on a month-to-month lease, all you are required to give her is 30 day notice. Let her know that you will give her a good reference so she will be able to move...

Buying or Selling a Home: selling to our renters, selling homes in maryland, home buying maryland
selling homes in maryland, home buying maryland: You could use either a lawyer or a Realtor to help you with the paperwork. I have on many occasions helped people with contracts, home inspections, home values, etc. when selling and just charged a flat fee. I have seen attorneys that will charge either...

Buying or Selling a Home: selling no stormwater permit, Certificate of Occupancy
Certificate of Occupancy: As long as you have a Certificate of Occupancy, it probably shouldn t. But this is more than a Real Estate problem, it s legal and government problem and beyond my scope. First off if your development has a POA or HOA, you should take this up with them since...

Buying or Selling a Home: sewer system, local health department, storm system
local health department, storm system, sewer system: I m surprised you didn t get the answer from your real estate agent, hyhl. In my part of the world they are just about the same, except that a sewer storm system has a larger capacity. In your part of the world, your county, your city they may have more or...

Buying or Selling a Home: Termite damage - sellers responsibility, termite inspector, sellers responsibility
termite inspector, sellers responsibility, disclosure laws: Hey, Carol. If you re in California, listen to your Realtor. To do as your brother wants to do is considered misrepresentation and fraud. If you get taken to court for something like that, there can be not only financial penalties, but criminal penalties,...

Buying or Selling a Home: Title issue with REO, jpmorgan chase, reo property
jpmorgan chase, reo property, escrow officer: Dear Stella; This question reflects the frustration that Buyers and their agents experience with the foreclosure and REO market. It is difficult to work with the banks and to get questions answered. Banks work at their own speed and unfortunately, unless...

Buying or Selling a Home: Title problem, jpmorgan chase, escrow officer
jpmorgan chase, escrow officer, grant deed: The way it s going, Stella, you may not get the house anyway, and if you don t you REALLLLY got a good case against all those parties. The attorney would know exactly who. As for finding the GOOD real estate attorney, you might ask. Ask the local board of...

Buying or Selling a Home: Title question - PLEASE HELP, legal mess, installment agreement
legal mess, installment agreement, hi amy: Hi Amy...just think of this transaction as a car sale. You buy the car and the bank puts their name on as legal owner....you are registered owner. When they get their loan, the sale will go through escrow. You will release your interest upon payment. When...

Buying or Selling a Home: Trapped in a vicious cycle with bad selling agency., disclosure documents, miscommunication
disclosure documents, miscommunication, company headquarters: I can assure you, Robin, that you are not familiar with the process. After all, this is your very first sale of real estate (that is very obvious). And granted that the agent, I feel, has indeed been taking advantage of you and your naivety in this matter....

Buying or Selling a Home: Zoning Disclosure -- who's responsible?, wall structure, zoning office
wall structure, zoning office, zoning department: Christina, Yes, absolutely, if you purchased a home for residential purposes located on commercial property, this should have been disclosed to you by, I would think, everyone involved in the transaction: Appraiser, closing agent, real estate agent(s),...

Buying or Selling a Home: Accepted contract, loan check, loan approval
loan check, loan approval, last resort: Dear Aimee: I am sorry you are going through this problem, and I can imagine how disturbing it is for you. Please understand, however, that I cannot practice law without a license and a real estate attorney may need to be a last resort for you. Also,...

Buying or Selling a Home: Amendmants to HOA Convnants, CC&R's, Codes covenants and restrictions
CC&R's, Codes covenants and restrictions, HOA: David - HOA can only enforce what the CC&R s indicate and only in accordance with their policy manual. If the builder desires to amend the CC&R s that may take some time. If you present to the architectural committee your plans for hate fence and the current...

Buying or Selling a Home: Appraisal time frame, multiple listing service, local multiple listing service
multiple listing service, local multiple listing service, loan approval: Dear Matt, all of that information should be made available to the lender/appraiser. There is a vendor/vendee expectation of up front honest and knowledge of all facts, and it will hold you in good stead with all parties. The contract will have that information...

Buying or Selling a Home: advertised property, boat docks, outbuildings
boat docks, outbuildings, asking price: If you have a copy of the listing that was in MLS, then that should be included in the sale. The REALTOR should have had the owner look at the MLS sheet and concur that it was correct. If the seller wants to remove those things from listing, he should lower...

Buying or Selling a Home: advertised sale price, boat docks, outbuildings
boat docks, outbuildings, bare minimum: Hi Jean, You need to contact the listing agent and ask to see a copy of the actual listing agreement that the Seller signed. If the items you mentioned are spelled out in the listing agreement and signed off on by the Seller, I would think there is an...

Buying or Selling a Home: Bank is suing title for my mortgage, Title company error, foreclosure
Title company error, foreclosure, refinanced: Since you did not say in which state you are located, Jennifer, I believe you should hire a REAL ESTATE attorney, one that is very familiar with the foreclosure process to play hardball with the other attorneys since they are certainly playing hardball with...

Buying or Selling a Home: Business trust deposit time?, certified mail, business trust
certified mail, business trust, estate question: This does not seem to be a real estate question, Robert, but if this refers to an ongoing transaction in which the buyer s deposit needs to be verified in the course of a purchase transaction, then you should ask the banks involved what is their policy. I...

Buying or Selling a Home: Buy my Dads home, buying, selling
buying, selling, FHA: Hi Allan, Sorry sorry to hear the details like this... so you are buying your dads home? per the subject line... there could be issue with the lenders that this is a family deal and not an arm-length transaction...(one where the buyer and seller do not...

Buying or Selling a Home: Buyers rights, buyers agent, fire hazards
buyers agent, fire hazards, 16c: I would ask your Agent why there is nothing in this section? Cost of repair contingency is there for issues relating to cost of repair, and you having the right to terminate? Read the statement 16C and it will answer the question for you. Not really sure...

Buying or Selling a Home: Buying a home at foreclosure auction in CA., real estate auctions
real estate auctions: As I probably answered six years ago, Beth, when you are the winning bid on an auction for a house, your loan you get to help you buy that property should be the ONLY loan. There should be NO OTHER LIENS OR ENCUMBRANCES of any kind other than property taxes...

Buying or Selling a Home: Buying home from Parents Estate, jessica bryan, personal qualification
jessica bryan, personal qualification, pre qualification: Hi Patti; That depends...will you be getting a conventional loan for the other 75 percent of the total value? If so the bank will be the source for how they view your 25 percent ownership. Each loan comes with its own set of guidelines and restrictions....

Buying or Selling a Home: Buying Partner Out Of Upside Down Mortgage, purchase money loan, capital gains taxes
purchase money loan, capital gains taxes, state income taxes: With just $6,000 difference between loan balance and property value, and in consideration half of that $6,000 is yours, I wouldn t pay him a dime. Just have him GIVE YOU a quit-claim deed AFTER you have checked to make sure that there are no liens on the property...

Buying or Selling a Home: Buying a short sell, proper legal advice, real estate financing
proper legal advice, real estate financing, joint tenants: Hi SAM-- Your question seems to be Can I purchase my wife s house? THE E-Z ANSWER WOULD BE YES but the statements you make preceding the question, however, are confusing and unless I can unscramble a few things, I can t give you an answer that...

Buying or Selling a Home: bought home..., Disclosure, damage repair
Disclosure, damage repair: Hello Rebecca, I can t of course, answer for New Jersey laws. However I would suggest you check your paperwork for the purchase and see if there is a disclosure form. If you don t have it, call your agent about it. Were you represented by a Buyers agent?...

Buying or Selling a Home: breach of short sale contract, private mortgage insurance, fha insurance
private mortgage insurance, fha insurance, breach of contract: Hi Amanda-- Short Sales are always difficult.time-comsuming and full of surprises! Oten the Buyer has to shell out some money that was not expected in order to get the transaction closed! BUT, in my 35+ years as a Real Estate Pro, I can t say I ve ever...

Buying or Selling a Home: Can a CDPE help me as a Buyer?, jessica bryan, distress sale
jessica bryan, distress sale, greater tampa: Dear John; A real Estate Professional who has received specific training and is certified CDPE is much more knowledgeable about the entire foreclosure, short sale and distress sale process. It is not an easy process to negotiate through the muddy waters...

Buying or Selling a Home: Can a CDPE help me as a Buyer?, greater tampa, time trouble
greater tampa, time trouble, pointed questions: Hi John, I apologize for the delay in getting your answer out. I am in the middle of a physical location move, and my service has been temporarily interrupted. Yes, a qualified Realtor could help you as a Buyer in purchasing through a short sale process....

Buying or Selling a Home: Can a CDPE help me as a Buyer?, knowledgeable realtor, greater tampa
knowledgeable realtor, greater tampa, castagna: To help you in this matter, John, I have contacted a CDPE Realtor in the southern greater Tampa/St.Petersburg area. His name is Mark Castagna. Phone number 727-409-3277. It s very important that you have a very knowledgeable Realtor helping you with short...

Buying or Selling a Home: Closing on a house, usda loan, usda approval
usda loan, usda approval, boonies: My suggestion would be to contact your local (or closest one) USGA Rural Development office. They are unique in the real estate world unless you re ouot in the boonies and/or have a farm to which you want to move or buy. Yes, since they have not lived...

Buying or Selling a Home: Collapsed Sewer, sewer pipe, free consultation
sewer pipe, free consultation, hearsay: Hey, Heidi. The answer to your question depends on a lot of variables, one of which is proving that the Sellers had problems, and proof has to come from beyond hearsay. I m also hoping you had a home inspection. Nonetheless, since you re only three...

Buying or Selling a Home: Conflicted about Agents, jessica bryan, procuring cause
jessica bryan, procuring cause, first house: Hi Christine; Since you have not signed paperwork with the second agent you are free to employ the first agent to work for you but since she is representing the seller you might actually want to bring in your own Buyer s Agent who will look out for your...

Buying or Selling a Home: Contract, general power of attorney, attorney advice
general power of attorney, attorney advice, power of attorney: Hi Jhon, I apologize for the delay in responding. I am in the middle of a physical house move, and my Internet has been down for several days. Without having seen your Contract of Sale, I can only give you general advice. If your attorney accepted...

Buying or Selling a Home: Contract Contingency, contact real estate office manager, small claims action
contact real estate office manager, small claims action: Very simple, Erin. Just contact the MANAGER of the office of the listing agent and present your case. If that person is able to settle this matter and you still want to end the contract, then contact the local Board of Realtors and present your case. If they...

Buying or Selling a Home: Dead Beat Realtor, life time, escrow
life time, escrow, realtor: You need to call your Realtor s broker at their office. Call the main office number and ask who the managing broker is. Explain your situation to the broker, and that if you lose the house based on your Realtor s lack of communication that there will be...

Buying or Selling a Home: FHA Home Inspection, decay wood, john mckenna
decay wood, john mckenna, wood destroying insects: Regarding your questions... Moisture is a big concern, as it can be conducive to mold, decay, wood destroying insects and electrical defects in some cases. You must stop the source of moisture in order to avoid the possible defects than can develop. Cracks...

Buying or Selling a Home: Dead Beat Realtor, regional mls, financial hardship
Buying or Selling a Home: Dead Beat Realtor, regional mls, financial hardship, seller buyer

Buying or Selling a Home: No Money at Closing Time!, plan b
Buying or Selling a Home: No Money at Closing Time!, plan b

Buying or Selling a Home: Is now a good time to buy in Vegas, las vegas real estate, las vegas homes
las vegas real estate, las vegas homes, las vegas homes for sale: Hi Glen, Of course you realize you are asking a Las Vegas real estate agent if now is a good time to buy in Vegas. :) But seriously, our inventory has dropped WAY down and prices have actually edged up slightly over the past couple of months. We have...

Buying or Selling a Home: Home Inspections & Association Approval, legal recourse, jessica bryan
legal recourse, jessica bryan, breach of contract: Dear Lucy; Your buyer is in breach of contract and needs to be notified in writing that they have to comply with the contract within a certain amount of days from the delivered written notice. If they do not comply the contract will be canceled and they...

Buying or Selling a Home: Home under contrat sold to another party, short sale, time limits
short sale, time limits: Shane, I don t have enough information here, but in a Short Sale the bank must approve the sale. Since nine months has gone by, I would assume the bank did not approve the sale then or someone would have asked you to complete the contract. Next, no, you...

Buying or Selling a Home: home sale advertising, specific performance
specific performance: As long as your offer gives the seller what was listed in the listing, Jean, and as long as there is not even a tiny-bit difference, yes, the seller is obligated to sell to the offerer. However, the seller can still refuse to sell . . . at his financial peril....

Buying or Selling a Home: Joint ownership of house, joint tenants, attorney fees
joint tenants, attorney fees, probate: The terminology I am sure you mean, Kathy, is either tenants in common or joint tenants. Those are the two main ways people hold interest in property. In order to sever your interests in the property from your brother, you would have to hire a real estate...

Buying or Selling a Home: Getting keys at closing in Arizona, last dollar, refridgerator
last dollar, refridgerator, buying a home in arizona: Don t get too heated, Rick. Let me answer your concerns as you presented them. Indeed, you do get the keys when the property is actually conveyed to you. And it may take a day or two afterwards for one reason or another, i.e., paying any taxes in arrears,...

Buying or Selling a Home: Liability during showings, lockbox, kids toys
lockbox, kids toys, showings: Thank you for your question. As for liability I can not answer or advise you. I would reccomend you speak with the rental company if you deal with one. If not, I would reccomend you have a conversation with the agent and or his Broker In Charge who have...

Buying or Selling a Home: lease with the option to buy, credit issues, lease purchase issues
credit issues, lease purchase issues, finance issues: Hi Kern - Somehow the system did not notify me of your reply. I found it when I was replying to another party. That said, there are a number of programs to assist struggling homeowners and a real estate license does not qualify me to provide or suggest remedies...

Buying or Selling a Home: lease purchase, mortgage amortization schedule, intelligent answer
mortgage amortization schedule, intelligent answer, lease purchase: You haven t given me enough information, Roger, in order for me to give you an intelligent answer. What s the interest rate? How long are you supposed to make those payments? What is your purchase price? No, I need lots more information, Roger. If your...

Buying or Selling a Home: leasepurchase/owner finance, lease purchase options, lease purchase option
lease purchase options, lease purchase option, two realtors: ANDY-- BEFORE YOU DIVE HEAD FIRST INTO AN EMPTY POOL, you need to find a LOCAL Real Estate Agent to assist you. Most areas have one or two Realtors who specialize in Rent-to-Own,Owner Financing and/or Lease Purchase Options. Because Mortgage Money...

Buying or Selling a Home: lien on property, mr dennis, title company
mr dennis, title company, forclosure: Apparently, Julie, your attorney is not a real estate attorney. Title companies are insurance companies, or they are owned by them. And insurance companies are notorious for taking forever and a day to settle lawsuits. How do you know how long this lawsuit...

Buying or Selling a Home: Manufactured Home & Land Mortgage, mortgage finance companies, personal loan officer
mortgage finance companies, personal loan officer, vanderbilt mortgage: SHERRIE-- You re house that s under contrct and should be closing soon is --I hope--being SOLD by you, not PURCHASED! What you re looking for is called a Mobile Home/Land Package and not many Lenders will do these loans.I suggest you go to your Search...

Buying or Selling a Home: Mineral rights leasing while under contract, small claims court, mineral rights
small claims court, mineral rights, court case: While they still owned the property, Aaron, the previous owners may do what they want with it as long as it didn t impede your transaction in any way, especially if there was no mention about any mineral rights in the transaction. However, this may be a case...

Buying or Selling a Home: No Money at Closing Time!, bobster, mortgage company
bobster, mortgage company, local real estate: You don t say in what state this is taking place, Bobster. But presuming this is an ordinary sale of your residence, I WOULDN T HAND OVER THE KEYS UNTIL YOU GOT PAID. Period. If you don t sign any documents that would allow you to get paid, then THAT is why...

Buying or Selling a Home: mortgage, jessica bryan, first time buyer
jessica bryan, first time buyer, lowest interest rate: Hi Maria; I would suggest that you talk to a lender and get pre-qualified for a loan. At 30,000 a year your monthly payment cannot be more than about $625 for your payment of the principal and the interest of your home loan. That is 25 percent of your monthly...

Buying or Selling a Home: Obligation, moral dilemma, NAR code of ethics
moral dilemma, NAR code of ethics, listing contract issues: Hello Jill - The question you are asking is a moral question. For this to be unethical it would have to violate an Article of the NAR Code of Ethics. There is not Article or Standard of Practice that relates to this situation. Therefore, this is not an ethical...

Buying or Selling a Home: Partial Sale of 1031 Property, tax concerns, taxable gain
tax concerns, taxable gain, aquiring: Good question, my personal opinion is, you will pay tax on any gain period. Your gain is the differance from what you paid, to todays value,bases starts at time of aquiring,grows from there. I would recommend you get expert legal and expert tax advice...

Buying or Selling a Home: Plumbing issue after moving in, bathtubs showers, sewage line
bathtubs showers, sewage line, city sewage: Hey, Robert. I answered this about an hour after your submitted it but it just showed up in my queue again. New Jersey is one of those states that we call litigious so anything is possible there, just like here in California. Since you re only four...

Buying or Selling a Home: Proper Protocol, proper protocol, sellers agent
proper protocol, sellers agent, second hand information: Dear Carol: T he offer belongs to the seller and is usually mandated (by state real estate law) that it must be presented. If you did not want to hear it personally it should thus have been given to your agent to be submitted to you. Please check with the...

Buying or Selling a Home: purchasing house, escrow officer, warranty deed
escrow officer, warranty deed, quitclaim deed: Yes, I did get that feeling from before, Kathy. I had the feeling that trust had been eroded in your relationship somehow. It s not for me to say anything in that matter and I will not. But if it was me, I would negotiate with my husband, saying that I will...

Buying or Selling a Home: Real Estate, decent income, debt situation
decent income, debt situation, question question: Good question. Question is do you have at least 1 year of income saved up? You ll need it. The real estate business has changed since when I started.In my opinion it is the most competitive business I know of.Only a select FEW will make a decent income.To...

Buying or Selling a Home: Repairs needed after settlement, SPDS, seller disclosure
SPDS, seller disclosure, problem after closing: Hello Maggie - I apologize for the delay in my reply. From a real estate perspective, the question to consider is did you know of the latent defect or should you have known ? Is it reasonable that you should have known of this problem as a result of the...

Buying or Selling a Home: Responsibility of Seller for repairs, district attorney office, dear maggie
district attorney office, dear maggie, plumbing problem: Dear Maggie: As a broker, I came upon this problem a short time ago when I represented a buyer who was not only a good friend, but a member of the district attorney office. I was in a panic, until I checked over again the wording the the disclosure forms...

Buying or Selling a Home: real estate sales, designations, REO
designations, REO, Short Sale: Wow, Jeff, that s a whale of a question. One for which I don t think I am qualified to answer as I am only one among many, but I would like to make some comments. One of the MLSs that I belong to, has had over a 50% membership drop in the last couple of...

Buying or Selling a Home: realestate transfer and leach fields, Septic systems, health department
Septic systems, health department: Amantha, The only party competent to answer this question is your parents County Health Department. Septic systems fall under their jurisdiction. It may be that the configuration of the septic system was perfectly legal when it as built or it may be that...

Buying or Selling a Home: Sell?, buying, selling
buying, selling, relocating: HI Bud... congratulations on having tripled your equity... not an easy feat in this market place world wide... That being said, you should contact a good financial adviser to see where your debt/income retirement needs to be for you and your family... ...

Buying or Selling a Home: Selling a Home Under a Living Trust, living trust, tax expert
living trust, tax expert, Realtor knowledge: First thing, no matter what, Brenda, is to get a goooood real estate attorney, or an estate attorney, possibly the one who created the living estate. Of course, all of you would have to agree to this and this will probably be the first of (hopefully only a...

Buying or Selling a Home: Setting closing date several months out, earnest money deposit, oxford house
earnest money deposit, oxford house, oxford ms: It certainly can be done, Gillian . . . if the seller is willing. My guess the agent for the Oxford house would probably ask you to make your deposit NON-REFUNDABLE just to make sure you do buy the house. After all, so many things can happen within four or...

Buying or Selling a Home: I SOOOOOOOO NEED GOOD ADVICE:), jessica bryan, fleetwod
jessica bryan, fleetwod, real estate realtors: Dear Tiffany; Not knowing anything about prices in that area one thing I can say is that as long as you make the price affordable and below others, it will be attractive to a buyer. Perhaps you should consult the agent who sold you the home to begin with...

Buying or Selling a Home: Stay or go?, credit credit cards, mortg
credit credit cards, mortg, western canada: If you ve been reading about what has been going on south of your border, you should be getting a hint as to what you should be doing, Bud. We, too, went through a period in which our values jumped up so much like we believed there was no ceiling. Like so...

Buying or Selling a Home: selling home; didn't get permits for remodeling, licensed plumber, red flags
licensed plumber, red flags, property inspector: If you list your property with a Realtor, Judy, make sure you disclose to him/her what you just said. The potential buyer will or won t ask for permits before buying. You will need to disclose the condition of the property in a document during the purchase...

Buying or Selling a Home: Transferring title of a Mobile home., mobile home park, dmv offices
mobile home park, dmv offices, state dmv: Diane-- As a Mobile Home in a Trailer Park is considered a Vehicle, it seems like the DMV WOULD be the place to transfer ownership from one person to another.Perhaps she should write the Director of the DMV in your State Capitol, as (often) the Clerks...

Buying or Selling a Home: tax credit on home energy or improvements, jessica bryan, energy credit
jessica bryan, energy credit, conserving water: Dear Mary; I am sorry that you are not happy with the fact that I cannot give any tax advice, but unfortunately, I must be extremely careful about the types of advice I give. Since I am licensed to sell real estate I can only give advice about home sales...

Buying or Selling a Home: title, mobile home without a title?
mobile home without a title?: Since you filed BK, Steve, you should ask your BK attorney these questions. He is the one that should know how you could lose the mobile home, yet, without a lien on it of any kind, including a mortgage. I assume your mobile home became attached to the...

Buying or Selling a Home: Unpaid property taxes without a mortgage, legal period, back taxes
legal period, back taxes, unpaid property taxes: If you want to buy the property from him, go right ahead, as long as he does want to sell it and he is satisfied with your purchase price, Kelly. But be prepared to pay the taxes in the course of buying the property. Most likely he is not going to pay them....

Buying or Selling a Home: Water problems, buying, selling
buying, selling, inspections: Hi Diane... Oh I dislike the A word... you mentioned small claims.. if you go the attorney route, they will be the only ones getting any money out of it.. You don t mention the state you are from, but you bought AS IS and some states mean exactly that......

Buying or Selling a Home: 2010 Laws on sale of realestate inherited, tax trouble, time howard
tax trouble, time howard, joint tenants: Yes. But the way the present real estate market has fallen, there is that possibility that the value may have dropped to below what your sister paid or maybe about the same. Otherwise, it should not have to change anything. It s good that it has been your...

Buying or Selling a Home: 90 day title transfer law, 90-day flipping rule, 90-day waiver
90-day flipping rule, 90-day waiver, FHA: Hello Rebecca - Many investors are asking the same question about the 90-day rule and the waiver. Waiver of Requirements of 24 CFR 203.37a (b)(2) Pursuant to §7(q) of the Department of Housing and Urban Development Act (42 USC 3535(q) and 24 CFR 5.110, FHA...

Buying or Selling a Home: Addendum on Short Sale: Conditionally Refundable Earnest Deposit, mutual cancellation, failure to deposit earnest money
mutual cancellation, failure to deposit earnest money: Hello Frank - It is prudent and recommended that you obtain some form of cancellation or acknowledgement of cancellation from the listing agent. Many agents/brokers consider the buyers failure to deposit the earnest as breach in itself and therefore just anticipate...

Buying or Selling a Home: Asbestos contamination, errors and omission insurance, asbestos tiles
errors and omission insurance, asbestos tiles, asbestos insulation: Dear Scott: With reference to the asbestos in the floor tile, the seller is obligated to disclose those items about which he has knowledge. If he did not put in the floor tile nor ever jackhammer them up, he would not have known about the asbestos. Also,...

Buying or Selling a Home: acres, property boundaries, statement period
property boundaries, statement period, tax statements: Hi Tom, Unless there was a mistake at the time you purchased your property and it was recorded incorrectly as public record, my opinion is that this Seller doesn’t have a leg to stand on. If there was a mistake when you purchased which has now been/is...

Buying or Selling a Home: Breaking land purchasing agreement?, title insurance, contract completion
title insurance, contract completion, Real Estate Attorney: Hello Scott, Unfortunately a number of bad ideas here that I see. As you now know, never buy it without seeing it first. Two, always make sure that you have Owners Title Insurance on any property you purchase. It s a small one time expense and without...

Buying or Selling a Home: Buying different home, broker works, current mortgage
broker works, current mortgage, mortgage broker: Dear Gayle, Thank you for your question. In order to buy a new home, you are going to need to apply for new credit. It does not matter that you currently have a mortgage for that amount and that you are able to pay it n time. It has to do with your current...

Buying or Selling a Home: Buying a home with bad credit, seller financing, lease-option
seller financing, lease-option: First thing I would do, John, is to ask two more bankruptcy attorneys about doing a Chapter 7, wiping out your debts altogether and starting all over again. You can convert your bankruptcy. Just ask. With either form of bankruptcy, it still puts you in the...

Buying or Selling a Home: Buying a house that is zoned commercial, rezoning the land, proper land use
rezoning the land, proper land use: When you buy a property that is zoned higher than plain residential, you are buying a property with a higher value . . . ordinarily. The idea of zoning is to allow properties to be assessed at higher values so they can collect more taxes on it. Most people...

Buying or Selling a Home: Is it better to build a new garage before trying to sell?, paint animals, asphalt driveway
paint animals, asphalt driveway, new appliances: Dear Rita; There are so many variables that affect the answer. There is no hard and fast rule. Much depends upon your answers to a few questions. The first question is: what condition is the rest of the house? If everything sparkles and looks to be in...

Buying or Selling a Home: buyer broker agreement, buyer broker representation agreement
buyer broker representation agreement: The key word in this, Rachel, is exclusive. If you signed an exclusive buyer s broker listing agreement that means it doesn t matter who or how you came to find and buy a property, you are obligated to pay a fee to that agent. Please read your agreement...

Buying or Selling a Home: buying a 1947 home, conventional loan programs, va home loans
conventional loan programs, va home loans, fha loans: Hi ESTHER-- If you are going to buy the House as an investment, to rent out,therer are numerous CONVENTIONAL LOAN programs that you could use.To buy investment properties, however, your down payment,interest rates and loan fees will be higher than if...

Buying or Selling a Home: buying a 1947 home, regulatory commissions, old paint
regulatory commissions, old paint, lending institutions: Hello Again; So the only loan you could get from a conventional lending institution was considerably higher rate than the going rate for a home loan. This tells me that you may have credit issues or other issues that limit the way you take this loan. Consequently...

Buying or Selling a Home: buying home across street from sex offender, sex offenders, buying selling
sex offenders, buying selling, renting: Hi Susan, While no one can answer that question but you... I will tell you that to some prospective tenants that will be a big issue... to others they may never check the site to see ... or that person could move tomorrow and then not be an issue at all......

Buying or Selling a Home: Carpet Allowance, buying, selling
buying, selling, closing costs: Hi Linda, It is not illegal for a seller to give a credit to a buyer... at least not in California where I practice. There are and can be restrictions on the lenders side as to how they may want the credit to show. Typically we show credits towards a...

Buying or Selling a Home: Cash purchase title deed change during escrow, title deed, mortgage lender
title deed, mortgage lender, title company: Just call the title company and tell them you are assigning the contract to her. The same Title company can deed it over for you when you get ready, ask them about that when you go in there to close on the house. They can explain the later process to you...

Buying or Selling a Home: Closing Attorney, Realtor, Real Estate Attorney
Realtor, Real Estate Attorney, Owners Title Policy: Hello Carolyn, There are plenty of transactions that close with only one attorney. There are a few things I would ask thought. Is your relative represented by a Realtor with a Buyers Agreement, not just a real estate agent? They are not the same thing necessarily....

Buying or Selling a Home: Commercially zoned property/Qualify for residential loan?, jessica bryan, dear francis
jessica bryan, dear francis, residential loans: Dear Francis; I was going to reject this question due to the fact that I am not a lender and therefore not as knowledgeable about this kind of a loan question; but I thought that I would write my answer to you so you can know how to proceed. Since a...

Buying or Selling a Home: Commercially zoned property/Qualify for residential loan?, residential loan on a commercial property
residential loan on a commercial property: Most likely, Frances, almost any bank you ask for a residential loan on a commercially zoned property will refuse your request. They will most likely insist on making it a commercial loan because it is zoned commercial. Why? Because commercial properties...

Buying or Selling a Home: Condominium Maintenance Fees, sewage gas, condominium units
sewage gas, condominium units, water sewage: Hi Kenneth; Yes. You are correct. These are the individual owner s responsibilities unless otherwise stated in your homeowner s agreement. However, the Homeowner s Association will pay for the common area water, sewage, power, insurance, etc. as part of...

Buying or Selling a Home: Contract, smart seller, cold feed
smart seller, cold feed, twenty four hours: Dear Lisa: I don t have a copy of your contract, and do not know what state you are from. Your contract probably has a clause that gives you approximately 21 days to have inspections and remove your contingencies. With your disapproval, you are entitled...

Buying or Selling a Home: calculating a buy out when ex has refinance the home shared together, quick claim deed, mortgage payoff
quick claim deed, mortgage payoff, faith estimate: Millie, Sorry for the delay in the response. If he already refinanced the home, and your name is off the mortgage and deed, then he should buy you out for the amount that he agreed upon. He should pay you the $21,000. If he wanted to charge you the costs...

Buying or Selling a Home: conditions of sale, new shingles, john mckenna
new shingles, john mckenna, deal breakers: Every house must be sold based on honest disclosure and a common agreement. If you agree or do not agree to fix any items, it is up to you and the agreement you have made with the buyer. Consult a real estate attorney for your rights in this issue. No one...

Buying or Selling a Home: enforcable purchase contract, right to cancel, inspection period
right to cancel, inspection period, HOA docs: Hello Patrick - The AZ AAR Residential Real Estate Purchase Contract 05/05 indicates the parties have agreed to mediate before seeking litigation... so don t be too threatened by the ignorance of the other seller/representative. Having discovered material...

Buying or Selling a Home: Fee for sales contract, mortgage purposes, sales contract
mortgage purposes, sales contract, personal friend: Dear Judy, This is a tough question, because when I usually help friends or family members, I do not charge them to get the contract ready. If you ask me what I think it will be a fair price, I think in the $200 to $500 range for only helping you fill...

Buying or Selling a Home: Flooring Allowance New Construction, Flooring allowance, credits
Flooring allowance, credits, new construction: Hello Brad - Usually when dealing with a builder there was the anticipation of base flooring being included in the sales price #incl installation#. When a builder offers an allowance usually, since the builder already anticipated the costs of installation...

Buying or Selling a Home: finished basement walls, sliding glass doors, thermal imaging camera
sliding glass doors, thermal imaging camera, laser measurements: Sorry for the delayed reply, I never received an e-mail that a question was pending. As far as the enclosed wall goes, is their concern with moisture and leaks or with the wall condition and being plumb or not? If it is with water or moisture damage, a...

Buying or Selling a Home: gifting money for realestate investment, retirement investments, tax ramifications
retirement investments, tax ramifications, jessica bryan: Dear Kim; Your question involves tax ramifications along with those things that the tax laws currently allow. Because these things may vary from state to state, it is often important to discuss your questions with tax and estate experts. Certainly you can...

Buying or Selling a Home: Home builder referral fees, referral fees, licensed
referral fees, licensed, unlicensed: Hello Nate - With the understanding I am not privileged to the entire builder offer of compensation to the broker in question... and providing there is no other part of the offer that might be interpreted as a violation the act of paying a referral fee broker...

Buying or Selling a Home: Home Modification Denied by Chase, letter chase, workout options
letter chase, workout options, deed in lieu of foreclosure: I would hate to see your credit score drop drastically, Joao, but that is what would happen if you let the property go into foreclosure or give a deed in lieu (they are both the same as far as your credit score is concerned) to the bank. However, you wouldn...

Buying or Selling a Home: Homepath (Fannie Mae Loan), Homepath (Fannie Mae), Buying
Homepath (Fannie Mae), Buying, Selling: Hi Lorena, Congratulations of deciding to make the jump and buy a property... great time with low rates and prices depressed as they are from the high point. Pricing your purchase off Zillow is chancy at best... I have never known them to be accurate...

Buying or Selling a Home: Land/acres/lot, real estate appraisal, question pool
real estate appraisal, question pool, land acres: Hi LARA-- Your statement ...same laws as the U.S. makes me nervous! Every State in the Contnental US has its OWN Real Estate Code, with different laws effecting a variety of Real Estate, Appraisal, Buyng & Selling and Financing policies and procedures....

Buying or Selling a Home: Listing Agent Mal-Practice?, mr dennis, fifth day
mr dennis, fifth day, no doubt: Multiple offers usually present a hassle, Justin. To add to the situation, the offer was presented to no doubt someone who was representing the seller appointed by a government agency. In most cases such as this, the seller usually accepts the highest priced...

Buying or Selling a Home: Maintenance Fees, condo's, maintaince fees
condo's, maintaince fees, HOA fees: Hi Kenneth, the HOA fees are not maintenance fees... they are fire insurance, sometimes flood or earthquake insurance, policy on officers, exterior lights, exterior gardens, pools, walkways, roofs, sometimes windows,water to the unit, inside electrical,...

Buying or Selling a Home: Market overview, real estate professionals, impending release
real estate professionals, impending release, financial experts: Hey, Richard. Miami seems to be improving for the last few months. However, in all areas, the experts (and I m not sure we should trust these real estate and financial experts anymore) warn of an impending release of what they call shadow inventory to...

Buying or Selling a Home: NY Stae Capital Gains Tax On Sale Of Primary Residence, capital gains tax, capital improvements
capital gains tax, capital improvements, hi mike: Hi Mike, Thank you for your question. The capital gain exclusion is $250,000 for an individual and $500,000 per couple. All your capital improvements and selling expenses can be deducted from the gain. What your final tax rate will be is for an accountant...

Buying or Selling a Home: Opinion on whether fixes/staging will be worth the return?, home for sale, home inspector
home for sale, home inspector: Hello, Are you working with a realtor, if so what have they suggested? What is the house apprising for compared to what the average home of that size and age selling for in the same area? A good real estate comparison and a little market research will...

Buying or Selling a Home: Down Payment Assistance Programs, down payment assistance
down payment assistance: Richard, There are still loans available with 100% financing, but only for buyers with stellar credit. Some states have STATE HOUSING LOANS that might offer down payment assistance. In my area, there are “hero” loans available – for firefighters, policemen,...

Buying or Selling a Home: Down Payment Assistance Programs, down payment asssistance, USDA loans
down payment asssistance, USDA loans: Hello Richard, There are a number of down payment assistance programs. Many depend on who you are, what your situation is, and where you are so I can t recommend any specific one to you. The mortgage broker they are working with should have that type of...

Buying or Selling a Home: Down Payment Assistance Programs, payment assistance programs, fha loan
payment assistance programs, fha loan, private organizations: You should look for a family member to give the needed assistance. There are no outside groups - to my knowledge - that can be acceptable or are allowed. Check with FHA to get further input. Sorry, but because of the minimum (3 1/2 percent) down payment...

Buying or Selling a Home: PROPERTY, legal opinion, power of attorney
legal opinion, power of attorney, variances: Ms Watts-- Real Estate Law and Policies/Procedurs differ from State -to-State in the USA--and I must assume that Canada has it s own legal system s handling of matters related to Real Estate that is unique to the nation and perhaps to the different provinces....

Buying or Selling a Home: possession after closing, buying, selling
buying, selling, repairs: Hi Rob... No you did everything you were to do and then some... I would put in writing what you did, have your friend sign a statement, send a copy to the new owners, their agent, your agent and you are done... Sometimes buyers think they are still renters,...

Buying or Selling a Home: property tax info, property tax rates, buying a home in florida
property tax rates, buying a home in florida, luck jim: Yes HAL-- It takes too long Since reading your question I ve searched the Web for a single-source for you, but to no avail.As you must know, property taxes are levied by jurisdictions, some cities, some counties, each with an Assessor s Office that...

Buying or Selling a Home: Real Estate Sale prior to Probate, real estate sale, sated
real estate sale, sated, first wife: Indeed quite a mess, Jay. And it all started when the property failed to go through probate and the title company refused to insure it . . . as it turned out. But why the bank lent money on a sale that basically didn t happen is beyond me. This is a case for...

Buying or Selling a Home: Any Recourse for Home Purchased with Dead Tree in Yard?, tree expert, proper sequence
tree expert, proper sequence, arborist: As long as it was not revealed in the usual property condition documents, Chris, you first have to actually have the expense of removing the tree, then look for who to reimburse you. In this case it would be a small-claims matter. Contact your Realtor, if...

Buying or Selling a Home: required documents, finance terms, time for review
finance terms, time for review, commitment letter: Hello Matt - It is always more appropriate to get proof that you delivered the documents required in the contract. therefore, you are not required to provide documents the contract does not require. Anticipating the contract required these in boiler plate...

Buying or Selling a Home: Selling my home without an agent, real estate lawyer, escrow officers
real estate lawyer, escrow officers, home fsbo: Hi Erica; I don t ever advise people who have never sold a home before to do it by themselves since there is a great deal to know and lots that can go wrong. some people are lucky and have a seamless transaction, but more often people have problems. As...

Buying or Selling a Home: Septic Disclosure/Location, septic tank, car port
septic tank, car port, hodge podge: Hi RECHELLE-- None of us Out-of-Town EXPERTS can answer the hodge-podge of questions you re posing here! You ve got a mixture of questions on a variety of connected: subjects,some covered by Federal and/or State Law, others by County or Community...

Buying or Selling a Home: sell home, title insurance policy, original blue print
title insurance policy, original blue print, title company: Hello Bing, Thank you for your question. This sounds like a problem. Why do the buyers say it is illegal? Just because it is not on the original blueprint does not mean it is illegal. There may have been an addition made later. Your first step...

Buying or Selling a Home: sell house, lease and option
lease and option: This sounds like a perfect opportunity for a lease/option, Shirley. As long as the tenants have been paying rent without fail, you may want to reward them by having a good real estate attorney put together a lease and option for you and the tenants. The...

Buying or Selling a Home: to sell or not to sell, galvanized pipes, broken water
galvanized pipes, broken water, beautiful acres: You are paying interest on the other two loans. If you don t have the time and money to fix the home that is paid for, then I would sell it and pay off the two houses that are charging interest, out the rest of the money aside to earn interest. Have less worries...

Buying or Selling a Home: selling home in iowa, www irs gov, capital gains exclusion
www irs gov, capital gains exclusion, irs publication: Hi Marie, Sorry for the delay in responding. This has been an extremely busy real estate weekend, and I am just now catching up on my email responses since Friday. Many of my real estate clients are also asking this same question that you did about...

Buying or Selling a Home: short-sales, late payments, foreclosure
late payments, foreclosure, lori: Hi Dianna, Doing a short sale will definitely ruin your credit. Yes, you need to be past due in order for the bank to consider the short sale. They have to believe that you are headed to foreclosure, otherwise they wouldn t agree to accept less than what...

Buying or Selling a Home: apprasial, real estate contracts, residential appraiser
real estate contracts, residential appraiser, downpayment: Hey KELVIN-- If you ve offered $280,000, it s been accepted, you now have a Contract that mandates the price, terms and conditions of the transfer of ownership of the property involved.If A State-licensed or certified Residential Appraiser has established...

Buying or Selling a Home: Bank approval of short sale offer, private mortgage insurers, loan guarantor
private mortgage insurers, loan guarantor, bank approval: Hi BOB-- In a Short Sale, there s usually 3 parties to the sale that must ACCEPT the Buyer s Offer. One is the Seller, the other the Lender, and last-but-not least, the MORTGAGE INSRANCED PROVIDER or LOAN GUARANTOR. FHA is a Mortgage Insurance Provider(MIP),...

Buying or Selling a Home: Buying a house without a realtor, selling a property, family properties
selling a property, family properties, transfer property to family: Dear Annette, If you are looking to get a mortgage to buy this home, then it is necessary to get a purchase agreement in place so you can apply for the mortgage. The bank, title, attorneys and all parties involved on the transaction will have a guide with...

Buying or Selling a Home: breakinng contract, listing cancellation, stage a house
listing cancellation, stage a house: Something like this question is probably the most common I receive, Aaron. And it is because the client does not bother to read the listing contract COMPLETELY. The contract no doubt says something like this: This agreement is valid for x-amount of months....

Buying or Selling a Home: No Disclosure of Survey on file, termite inspections, due diligence
termite inspections, due diligence, faint of heart: DEar Laurie: It means that there are no guarantees or warranties and that the buyer must do due diligence in obtaining home inspections, termite inspections, a survey inspection also that will designate the lot lines. You should find out if, once you have...

Buying or Selling a Home: depreciation, real estate tax, residential real estate
real estate tax, residential real estate, tax attorney: In commercial real estate there are pools of people that trade their properties so they can start the depreciation process over again. I m not aware of anything like that in residential real estate. You should consult a real estate tax attorney for options....

Buying or Selling a Home: Empower group USA, orem utah, group usa
orem utah, group usa, gut feeling: I m confused and need more information. Please provide more specifics, including why you make your mortgage payments to a real estate company and not a bank, why you would sell a property right after purchasing it, and if you have a contract. Thanks, ...

Buying or Selling a Home: Ethics, Article 1, Protect and promote clients best interest
Article 1, Protect and promote clients best interest: Hello Mar - If your agent is a member of the National Association of REALTORS there is an obligatory oath the agent took to uphold the tenets set forth in the NAR Code of Ethics. Articles 1-9 cover an agents Duties to Clients and Customers http://www.realtor.org/mempolweb.nsf/pages/code...

Buying or Selling a Home: earnst money, clams court, small claims court
clams court, small claims court, apprasal: Hi Don, You should check your Contract of Sale. Look under a “Default” paragraph, which should spell out what happens in the event a Purchaser defaults. Generally, Contracts are subject to financing. If a lender provided this man with a legitimate...

Buying or Selling a Home: Empower group USA, group usa, tax deed auctions
Buying or Selling a Home: Empower group USA, group usa, tax deed auctions, sean whalen

Buying or Selling a Home: fha loan, fha loan, question pool
fha loan, question pool, dwn: THIS HAS BEEN IN THE QUESTION POOL FOR OVER A MONTH NOW.I DON T KNOW WHO IT WAS SENT TO ORIGINALLY, BUT IT WAS NOT ME. I SUSPECT HE/SHE SENT IT TO THE POOL BECAUSE IT S VERY UNCLEAR AS TO WHAT THE QUESTION IS!ALTHOUGH I DON T UNDERSTND IT, I DECIDED...

Buying or Selling a Home: Home owner financing, legal repercussions, jessica bryan
legal repercussions, jessica bryan, electrical hazard: Dear Tina; Your rights are about the same as if you bought using a traditional lender. Your position that you were sold a lemon is one that (if substantiated) could have legal repercussions. You should consult an attorney. I do want to question whether...

Buying or Selling a Home: Getting back hand money, earnest money, right to cancel
earnest money, right to cancel: Hello Andy - This will depend on the terms of the contract used and the state laws in which the property is located. The answers you seek are provided in the terms of the contract. Since I am not aware of the state or the contract terms all I can provide is...

Buying or Selling a Home: home repairs, home improvement specialist, home improvement loans
home improvement specialist, home improvement loans, window furnace: This question is actually outside my scope of knowledge, consult a realtor, banker or home improvement specialist. Also Google home improvement loans and energy star or energy efficiency home improvements. I do know the government has certain tax credits...

Buying or Selling a Home: owner selling house while we are tenants, urgent reply, lease type
urgent reply, lease type, origi: Hi David, Thanks for the follow up. As the tenant you probably have the most rights under the law. I am only a real estate agent and can only tell you what is logical under real estate rules. Once the landlord tells you he has a date to close you have...

Buying or Selling a Home: Price increase question, approval letter, mr dennis
approval letter, mr dennis, valid reason: You wouldn t believe it when banks tell us that they don t want to foreclose or keep their inventory of foreclosures, would you? But that is what s happening in select locations, Denika. That house is obviously an REO, a bank owned house. Banks are just...

Buying or Selling a Home: Get Rid off my property quickly..., robert dick, mortgage balance
robert dick, mortgage balance, time robert: I m fine . . . and how are you. Robert? I would recommend you find a CCIM Realtor. That is a Realtor who specializes in commercial and income properties. I am sure there are quite a few of those kind of Realtors there in Chicago. These people are professionals...

Buying or Selling a Home: Selling my mobile home, carry a note, use note to buyer real estate
carry a note, use note to buyer real estate: My guess is that you may be missing a bet, Barbara. Why not have your Realtor sell it for whatever the market will be . . . but since you own it free and clear, sell it with YOU BEING THE BANK! That s right, you carry the loan on the mobile. You can probably...

Buying or Selling a Home: How not to get scammed when buying a mobile home, proper paperwork, luck mike
proper paperwork, luck mike, title and registration: Hi Raquel..what a deal! Go for it....except: 1. Have proof that this person is an heir, or has the right to sell the home. 2. Always go through escrow!! They will worry about taxes, fees, title and registration, liens, etc. That s what they do, and...

Buying or Selling a Home: sellers responsibilities for buyers insurance, dead shrubs, own insurance
dead shrubs, own insurance, new insurance: Personally I have never heard of this. I might seek advise from your own insurance company. Buyers Insurance company might have reason to think there is liability issues or other concerns. Some insurance companies are more concerned today about pine stray...

Buying or Selling a Home: signed contract to buy, community property states, due diligence
community property states, due diligence, period time: 1. If the owner releases you, it is important that you get it in writing. In real estate, and with all contracts, any changes have to be agreed upon by all parties and signed accordingly. 2. I cannot answer if you will be in a choke hold or not. 3. Take...

Buying or Selling a Home: Transferring title to old mobile home, death cert, palm springs ca
death cert, palm springs ca, luck mike: Hi Larry....simply take the title, reg. and death cert. to your local HCD(Housing and Community Development) office. Bring whatever you have to show your interest, ie will or trust papers. Small fee should be expected, and you are done. Don t forget to...

Buying or Selling a Home: upside down loan, realestate values, loan modification
realestate values, loan modification, mortgage balance: Would that I be able to help you the way I would want to, Terri, but unfortunately, the only way you ll be able to retain your present excellent credit is by continuing to make your payments. I could stop there and that would be the crux of this message,...

Buying or Selling a Home: Should I attempt to break contract?, sanity check, interested buyers
sanity check, interested buyers, busy street: Dear Karin; It is unethical for another agent to solicit a current listing but it is completely okay for an agent to respond to your inquiry if you solicit their help. My suggestion is to call another agent to get a sanity check. Explain that you are thinking...

Buying or Selling a Home: Buying out my half of the house, insurance payments, sole ownership
insurance payments, sole ownership, mortgage payments: Hello; The responsibility to share in the payments was an understanding between the two of you but unless there was some sort of a contract that identified what and how much you were to contribute, then by moving out you really left your ex-fiance with the...

Buying or Selling a Home: Buying Land, title insurance companies, adjoining landowners
title insurance companies, adjoining landowners, professional surveyor: This is a MESS! One or more of the many TITLE INSURANCE COMPANIES shpuld have issued policies on both the land Dad & Mom are interested in purchasing AND the Neighbor/Seller s land, as well as other adjoining landowners. Right now I don t THINK you need...

Buying or Selling a Home: Buying a Short Sale, fha qualifications, bank repos
fha qualifications, bank repos, dime bank: Good question, most bank foreclosures have MAJOR paperwork, regarding this kind of stuff. Closing dates are most of the time set in stone, also some times they charge you so much per day for not closing on time. I would check on this first.As for rights read...

Buying or Selling a Home: Buying a short sale, home buying maryland, home selling maryland
home buying maryland, home selling maryland: This is a common scenario. Normally when a home is sold as a short sale it is because the seller doesn t have any money and has exhausted all of their finances. They have to prove to the bank that they have a hardship and any additional funds in any bank...

Buying or Selling a Home: buying first home, mortgage broker, title company
mortgage broker, title company, good luck: Dear Sandra, The seller will be responsible if the property had lights when you originally saw the property and went into contract. If there were no lights, then the seller is not responsible to install these. However, certain types of financing require...

Buying or Selling a Home: buying a home, mortgage expert, income history
mortgage expert, income history, mortgage insurance: Hi Latanya, Whether or not you will be required to provide a rental income history on your current home to qualify for a new loan is a decision your lender will make. If a Purchaser is strong enough, both credit and income-wise, to carry the taxes, insurance...

Buying or Selling a Home: buying/selling to family members, legal transaction, local real estate
legal transaction, local real estate, buying selling: Dear Patrick, As long as you use the services of a local Real Estate attorney that represent you in both transactions to make sure that everything is legal, I do not see anything wrong with it. Also, you have to make sure that you do not purchase the...

Buying or Selling a Home: condo foreclosure purchase, foreclosure auction, redemption period
foreclosure auction, redemption period, right of redemption: Hi Bill, I do not claim expertise as a foreclosure expert. However, I will give you the benefit of what I know about some of the rules in my area. Yours could be different. Purchasing at a foreclosure auction can be very risky for an inexperienced...

Buying or Selling a Home: condos vs. co-op ownership, hud fha, wage earner plan
hud fha, wage earner plan, cooperative apartment: Hi TANYA-- As so many folks aren t truly aware of the dfferences between Condos and Co-Op s,I m going to start this way: CONDIMINIUM: (1)a form of ownership of seperate units or portions of multi-unit buildings that provide for formal filing &...

Buying or Selling a Home: contract, real estate commission, minor updates
real estate commission, minor updates, principal residence: Hi Ana, You need to first read your Contract of Sale and understand the language in it. When problems occur, the first place you should be looking is your Contract of Sale. Hopefully, you had an agent representing you. If so, get your agent involved...

Buying or Selling a Home: Damage responsibility, linoleum flooring, plumbing leaks
linoleum flooring, plumbing leaks, john mckenna: It depends on several factors (in my non-attorney opinion) to go after someone after it s been 3 years (that is a long time). First, can you prove intent to deceive? If the previous owner paid someone to make repairs and had no knowledge of how temporary...

Buying or Selling a Home: Easement that prevents from building a pool, townhouse development, pool construction
townhouse development, pool construction, preliminary title report: If there was no reference to the buyer making the purchase subject to her being able to build a pool in the back yard, she doesn t have a leg to stand on, Jim. The buyer received a preliminary title report prior to closing this transaction, like most buyers...

Buying or Selling a Home: how to get earnest money back, escrow account, luck mike
escrow account, luck mike, bonders: Lei....sorry to hear about this. It is my understanding that these type of companies are bonded for very high amounts of money. Probably will need to contact the insurance co. that is suing them....sounds like they may be the bonders . They may have $$...

Buying or Selling a Home: Found out that Home not in our name just the Land, deeds, title
deeds, title: Helen - Please excuse my delay in replying. I would immediately seek legal assistance by an attorney other than the one which helped in your acquisition of the property. You have a couple of issues.. first, title issues called clouds which include liens...

Buying or Selling a Home: home real estate listing, solds, open houses
Buying or Selling a Home: home real estate listing, solds, open houses, length of time

Buying or Selling a Home: finished paying payments on modular home and 1.12 acre land and they have not got a Title for the manufactured home for me so now am I just SOL or is there something they have to do to fix this, burke county georgia, vin numbers
burke county georgia, vin numbers, warranty deed: My bet, Tommy, is that there isn t one Georgia real estate agent in 20 that would be able to take care of this matter for you without having to engage a good REAL ESTATE attorney. So, my recommendation is to beat him/her to the punch and find that good REAL...

Buying or Selling a Home: House Title, home buying maryland, home financing maryland
home buying maryland, home financing maryland: You do not have to be on the loan, even if you are married. You can be on the deed to the house without being on the loan. If your husband makes enough money to qualify for the loan and his credit is good enough to qualify, you can do the loan in only his...

Buying or Selling a Home: hand money, minute consultation, hand money
minute consultation, hand money, hey susan: Hey, Susan. That is going to be totally dependent on the contract you signed with the builder. If you don t understand the legal language that I m sure it s written in, take the opportunity to talk with a good real estate attorney. They will usually give...

Buying or Selling a Home: home real estate listing, personal opinion, new photos
personal opinion, new photos, good question: Good question, Keep in mind, you might have the best agent in your area, sometimes it is not the agent, it is the times; The listing should not cost you anything? Listing a home with a REALTOR is part of the sales commission. Now is the time to have your...

Buying or Selling a Home: home real estate listing, mls systems, new photos
mls systems, new photos, realtor: Lots of people have this concern. Most MLS systems keep track of properties in a way that is cumulative, and it won t matter if you take it off the market or list with another Realtor, it still shows up as having been on the market before. So.........I wouldn...

Buying or Selling a Home: home real estate listing, trees and flowers, beautiful trees
trees and flowers, beautiful trees, comparable market analysis: Hey, Roger. I don t know what city of state you are in, but whether or not you are able to create a new listing will be entirely dependent on the rules for the MLS that your Realtor participates in. Generally, though, anything shorter than three months...

Buying or Selling a Home: home real estate listing, quarterly fees, new photos
quarterly fees, new photos, staging: Hi Roger, In my area, it does not cost an agent anything to generate a new listing. We pay quarterly fees, and there are no “per” fees. I think to take your house off the market because it has been on the market for over a year, and then put it back...

Buying or Selling a Home: home real estate listing, las vegas, selling a home
las vegas, selling a home, staging a home: Hi Roger, I definitely agree that you want a new fresh listing. Agents tend to ignore renewed listings, thinking there is probably something wrong with a property. I would also recommend all new pictures when the home is in pristine shape for the best possible...

Buying or Selling a Home: home real estate listing, buying, selling
buying, selling, staging: Hi Roger... sorry your home did not sell... I think there are a number of issues that should be addressed before you put the property back on the market. In general, 1st quarter is a good time to start the selling season... your area could be different,...

Buying or Selling a Home: home real estate listing, creative incentives, exterior improvements
creative incentives, exterior improvements, real estate brokers: Hi Roger-- Even with current Real Estate market conditions--values down, a huge inventory of homes for sale,it s a Buyer Market and a variety of Creative incentives being employed by Aggressive Real Estate Brokers/Agents and/or Builders,it shouldn...

Buying or Selling a Home: home real estate listing, multiple listing service, new photos
multiple listing service, new photos, asking price: Dear Roger: The main reason your home did not sell was probably because it was too high an asking price. It would have been smarter to lead the competition rather than trail the market. Why take it off the market? Maybe 2011 will continue to be a buyers...

Buying or Selling a Home: home real estate listing, upstate ny area, marketing partner
upstate ny area, marketing partner, advertising costs: Hi Roger, Wow! That s a lot to answer in a small space. You don t mention where you are located. Remember that any advice I give you only pertains to the Upstate NY area where I practice. 1.)You don t trust your Realtor enough to ask these questions, yet...

Buying or Selling a Home: home real estate listing, mls coverage, local media
mls coverage, local media, new photos: Hello Roger... Here are my basics: Is listing expired? Always sign a short term listing contract, so you can bail at any time. A listing should cost you nothing. New or old...no matter. The realtor will probably not be the one to sell the...

Buying or Selling a Home: home real estate listing, listing your home, re-list
listing your home, re-list: Hello Roger - The best time of year to market a single-family residential home is during the spring and summer months when homeowners are relocating their families to become situated before school restarts. Retirement and seasonal rentals in resort communities...

Buying or Selling a Home: home real estate listing, comparative market analysis, recompense
comparative market analysis, recompense, culprit: I like your idea, Roger. However, you re going to have to make sure your listing with your present Realtor has expired. Once it is expired, you need not be concerned about and costs to recompense the agent. I like your idea of practically making a new listing...

Buying or Selling a Home: home real estate listing, jessica bryan, money investment
jessica bryan, money investment, garden flowers: Hi Roger; I think that your Realtor would be very understanding and also quite pleased that you chose to stay with her after her time and perhaps money investment that she has already made. Once you explain your desire to have a fresh new listing, she should...

Buying or Selling a Home: Investment property - must be repair?, balcony railing, condo project
balcony railing, condo project, buyers agent: Good question, liability is a big issue. 1ST thing I would do is seek advice from your LAWYER. I might suggest you and or Lawyer review the restrictive coveniants as it relates to the condo project itself and what is governed under the restrictions.2nd I...

Buying or Selling a Home: Loan Contigency never removed, can we have the deposit back?, deposit money, agreement states
deposit money, agreement states, loan officer: If you definitely have your loan contingency in tact, then you should receive your full deposit back regardless of the reason you didn t qualify. Call your escrow company, and then fax them a letter explaining you want to cancel escrow. If the Sellers refuse...

Buying or Selling a Home: listing a home agter papers are signed, Active, Pending
Active, Pending, MLS: I am presuming you are still renting. First off, tell them that you will let no one in to the property unless they are accompanied by a real estate agent and that agent will need to present you their card. This is for safety and security reasons. You have...

Buying or Selling a Home: mobile home no tiltle, acre land, fannie mae
acre land, fannie mae, abstractor: Hi Jordan, Unless any debts of record have been cleared prior to your taking title, you could potentially be putting yourself at risk. Title insurance will help, but you need to have a title search done first. I’ll explain below. There are several...

Buying or Selling a Home: mortgage upsidedown, real estate values, underwater club
real estate values, underwater club, arizona land: What they did, Richard, was to NOT change the amount of time he had to pay the mortgage off. It was originally a 15-year pay plan. That they didn t change. By doing that, they in effect changed the principal. That means that if he continues until it is paid...

Buying or Selling a Home: Name change/removal in property documents, name change due to marriage, real estate mortgage
name change due to marriage, real estate mortgage, ownership documents: Hello JOSEPH-- Your questions are more for an Attorney or Title Company Official. Either of then can see to it that all of your Condo Ownersdhip documents reflect your new nameS ( I assume because you said BOTH of you had a last name change due to the...

Buying or Selling a Home: Name change/removal in property documents, name change due to marriage, warranty deed
name change due to marriage, warranty deed, ownership documents: There are two main ways of accomplishing that, Joseph. 1. You both sign a quit-claim deed giving title only to you. Example: Joseph and Jane Smith hereby deed 123 Main St, AnyLand, Utah to Joseph Smith as his own property. 2. If you do the same on a Warranty...

Buying or Selling a Home: Need to Get House Sold, fha loan, interested buyers
fha loan, interested buyers, loan money: Hi Mary; I am not sure what the rules from Medicaid are regarding personal property and why you have to get 90%. However, since the home is in your mother in law s name only and she is in a nursing home, she cannot make payments on the home. Perhaps it will...

Buying or Selling a Home: Need help getting a loan with very bad credit!, financial counselor, bankruptcy lawyer
financial counselor, bankruptcy lawyer, institutional lenders: ERIC-- With 300+ & mid-500 credit scores, NO BANKS, MORTGAGE COMPANIES, CREDIT UNIONS or other INSTITUTIONAL LENDERS will take a chance on you. Forget getting a loan now & go to work on getting your Credit Status upgraded over the next year or two....

Buying or Selling a Home: New Homer Owner in Michigan, 30 day notice, purchase agreement
30 day notice, purchase agreement, title company: Hi Karen, Thank you for the question. In New York the lawyers handle the contracts and the title companies follow up with the banks. Other states do it differently with the agents writing contracts and lawyers then reviewing them. It seems someone on...

Buying or Selling a Home: Problems with title for refinancing, bank foreclosure, cathleen
bank foreclosure, cathleen, title insurance: I don t know in which state the property is located, Cathleen, but it would seem to me that the lawyers are just being lazy, knowing they would probably not get paid for the work they would have to do to satisfy your request. They plain ol goofed. Sometime...

Buying or Selling a Home: Property Easements, property easements, full disclosure
property easements, full disclosure, title searches: Hi LYNN-- WOW! Who exactly is at fault If the Seller and/or his/her Realtor knew about this and didn t disclose it to you right up front.GUILTY! (Especially if your State is a FULL DISCLOSURE STATE! where each Seller is required to fill out a form...

Buying or Selling a Home: price, sales comparison approach, unit dwellings
sales comparison approach, unit dwellings, jim root: Hey JOE-- CAPITALIZATION is defined as the conversion of income into value.So, I guess it s relevant, but doesn t help you much. There are several METHODS an Appraiser can use to convert income into value--the one most appropriate for a Four-plex is...

Buying or Selling a Home: question on if this trailer is worth asking price, window seals, dryer vent
window seals, dryer vent, pennies on the dollar: good question, In my opinion, he is lucky you might be interested? why. I would consider alternatives. trailers are not that expensive, sometimes you can even find them as foreclosures for pennies on the dollar. based on your description, what ever you will...

Buying or Selling a Home: Sewer or Septic, public sewer, sewer system
public sewer, sewer system, local real estate: Hello Toni, It will depend if you are the only person in the area with city and also the only one with out it. In both cases it will increase the value of the property. Here is Florida, in the area I specialize and sell, buyers feel that septic is outdated...

Buying or Selling a Home: Short Sale Guidance, selling home maryland, buying a home in maryland
selling home maryland, buying a home in maryland: It s unusual for the second lien holder to have ordered an additional BPO. The listing agent won t be able to tell you the exact numbers until they have feedback from the second lien holder. If the second comes back and wants let s say $7k and the first...

Buying or Selling a Home: sell my mobile home, mobile home question, mobile home park
mobile home question, mobile home park, north central california: First of all, Vikie, if you are not willing to pay 10% as a commission to a good Realtor, you had better be a very lucky person or go out and knock on doors and advertise and attend meetings and read books and, well, you get the idea. If you re expecting to...

Buying or Selling a Home: sell of property, buying, selling
buying, selling, power of attorney: Hi Pam, I am so sorry to hear about your husband... you will most likely have to get a court appointed guardianship to proceed with this... I am surprised at this point that the lawyer had his name re-installed on the deed.. as you can see it is always...

Buying or Selling a Home: selling of 1974 Mobile Home in Park, mobile home park, luck mike
mobile home park, luck mike, home park: Hi Susan....this market has all but dried up! You can call 21st Mortgage...start there and ask local dealers near you who they use. You may want to consider carrying the loan yourself...with a good down payment. You can make some good interest, if you can...

Buying or Selling a Home: We have been sued after 1 year of closure on home, errors and omissions insurance, property inspector
errors and omissions insurance, property inspector, licensed property: What you need to do, Wanda (I m surprised your attorney didn t make this suggestion) is to advise the BROKER/OWNER of the office that handled your sale and tell them that if you get sued, THEY are going to get sued by YOU. So, you should advise that broker...

Buying or Selling a Home: Someone trying to sell a house that's been sold??? maybe???, ethical agent, surprise surprise
ethical agent, surprise surprise, half a mind: Unfortunately, Ann, there are indeed a few real estate agents who are less than honest. What that guy obviously was trying to do was to find buyers. Presently, agents are having a heck of time trying to find legitimate buyers. So, he puts down an address in...

Buying or Selling a Home: $8.000.00 first time home buyer tax credit extension, buying, selling
buying, selling, tax credits: Hi Marissa... No the unemployment has nothing to do with the monies that went to firt time home buyers ... and for that credit you would have already had to have been in escrow by 4/30/10... so if you are not you are out of luck on that... But the deals...

Buying or Selling a Home: Articles, american library association, carol smallwood
american library association, carol smallwood, professional colleague: Please note, Carol, that I have been a real estate broker since 1971. I doubt if I can help you if you are expecting an article or two from a financial planner. I would be biased towards real estate. I can snail-mail a copy or two of my real estate advisory,...

Buying or Selling a Home: appliances, trash compactor, granite countertops
trash compactor, granite countertops, black face: Hey, Beverly. It seems that the most aesthetically pleasing kitchens are those where the dishwasher, refrigerator, stove, and trash compactor (for those who have them) are the same finish. Of course, interior aesthetics can result in a higher price when...

Buying or Selling a Home: Better Resale - New Windows or HVAC, buying home in maryland, maryland condo selling
buying home in maryland, maryland condo selling: If you are wanting to take advantage of the tax credits and would like to do an upgrade, I would choose the new HVAC. Typically buyers will look at that first and 1982 windows aren t going to be *that* bad. If a buyer purchases a home and the HVAC goes bad,...

Buying or Selling a Home: Building permit., city of manteca ca, city of manteca
city of manteca ca, city of manteca, probate sales: Hey, Adam. Sorry to hear about your problem, but, unfortunately, this happens a lot, especially with probate sales, foreclosures, and landlord sales; in other words, whenever the owner of the property never lived there or hasn t lived there in many years,...

Buying or Selling a Home: Buying, lease/purchase, tenant
lease/purchase, tenant: Hello Regina, At this point you do not own the home, the owners own it. I believe that you are in essence, a tenant and therefore they should fix it. Possibly this might not be so, if you have agreed to maintain the home in your lease/purchase agreement....

Buying or Selling a Home: buying first house, prudent approach, principal interest
prudent approach, principal interest, mortgage broker: Dear Lorane: You bring up some excellent questions, and I respect your prudent approach to a major purchase. First of all, you should sit down with a mortgage broker/lender, and give him all requested documentation. This will include pay stubs from...

Buying or Selling a Home: buying a home, buying, investing
buying, investing, mortgages: Hi Ester... check both spots... home equity is run off % of the value you have left in the home. Wells Fargo typically will not lend past 70% loan to value... that is the max you can go... you will have fees no way around that ... so consider either higher...

Buying or Selling a Home: buying a home, closing put on hold., preliminary title report, marketable title
preliminary title report, marketable title, earnest money: Unfortunately, David, occurances such as this are more common than we would like to admit. If your Realtor is experienced in the short sale and foreclosure business, he/she will tell you. However, if you re going to place the blame anywhere, place it on the...

Buying or Selling a Home: buying an investment, brick veneer, pier and beam
brick veneer, pier and beam, mr franklin: HI ESTHER-- I can t make this decision for you! Both have their advantages and disadvantages. Why don t you use the BENJAMIN FRANKLIN CLOSE to decide which home to purchase. On a sheet of paoer, write the Address of the 1990 Brick Veneer Home on...

Buying or Selling a Home: when company change, legal aid societies, real estate mortgage
legal aid societies, real estate mortgage, free legal assistance: TASHA-- You ve mentioned a COMPANY change.a LENDER change and NAME CHANGES that affect your Rent-to-Own/ Lease Agreement. Your question about your rights to take actions bearing upon your CONTRACT(S) with the COMPANY,the LENDER and perhaps another...

Buying or Selling a Home: Deed is wrong...don't own my back yard!, property condition disclosure, negligent misrepresentation
property condition disclosure, negligent misrepresentation, new hampshire real estate commission: Hi Rose, Gosh, what a mess you have. I would try to locate the person from 12 years ago who deeded the small piece of parcel that the LLC/Rite Aid had no use for and then gave it to your property. Ask if they will execute another deed for the same...

Buying or Selling a Home: discloser of assesment increase to seller, covered front porch, discloser
covered front porch, discloser, certificate of occupancy: HI Kathleen, Thank you for the follow up. This helps. Did you ask the assessor why they increased the assessment? They cannot change an assessment just for one house unless changes were made to that specific house. It could be they reassessed for the...

Buying or Selling a Home: Earnest Money, earnest money deposit, fha home loan
earnest money deposit, fha home loan, small claims court: Dear Earnest: I am sorry that you have been laid off, and are now facing the problem of getting back your deposit. Please check over your contract and see if you bought the home contingent upon you being able to obtain financing. If so, you should be able...

Buying or Selling a Home: Exclusive Right to Sell, Exculsive Right to Sell, Protected Period
Exculsive Right to Sell, Protected Period, Vacate Premises: KamB, I m sorry but you have me thoroughly confused. Exclusive Right to Sell is something a Real Estate agent gets from the Owner of a property. It has nothing to do with tenancy or who has a right to live in the house. I don t understand what kind of agreement...

Buying or Selling a Home: Fence Dispute, Home Fencing and property rights
Home Fencing and property rights: Hey Sandy, I would get a copy of the survey from the company that conducted the survey. Make a cope and also try to get a copy from the county office that handles deeds. I would make a copy of all the documents and send him a certified letter requesting...

Buying or Selling a Home: family home, home equity loan, tax consequences
home equity loan, tax consequences, reverse mortgage: If the home is paid for you could look into doing a reverse mortgage. They will do an appraisal for you. Ask your mother s estate attorney about the tax consequences. You can get a mortgage to pay your siblings but the bank is going to have the house...

Buying or Selling a Home: HOA Rules & Selective Enforcement, central heating and air, selective enforcement
central heating and air, selective enforcement, verbage: Dear Rachel: I have answered all of the questions that refer to assistance from a real estate broker. Now you are embarking upon a legal situation. Real estate brokers are not allowed to practice law without a license . You could hire an attorney. KARYN...

Buying or Selling a Home: HUD certification, wind zone, kitchen cabinets
wind zone, kitchen cabinets, hud: Hi Susan, the #s you are looking for are on the rear of the home. A metal plate is riveted to each half of the home(doublewide). If they have been covered up by siding, or paint, look on the reg., or title for HUD, or Insignia # on it...more than likely it...

Buying or Selling a Home: Hud Sticker for a moblie home, moyock nc, mobile home park
moyock nc, mobile home park, nc dmv: It would be foolish for me to attempt to give you advice in this matter, Bryan, because as a California real estate broker I might be misadvising you since I cannot say I know North Carolina mobile home rules and laws. However,if we use common sense in this...

Buying or Selling a Home: home buyer problems, roof leak after closing, seller disclosure
roof leak after closing, seller disclosure, agent disclosure: Hello Phillip - I apologize for the delay in my reply. The state licensing entities that govern Home Inspection are different in every state. In AZ, for instance, it would be both the Board of Technical Trade as well as the Registrar of Contractors. There...

Buying or Selling a Home: home buying, patient man, time back
patient man, time back, best interest: HI ESTHER-- If you e signed a Buyer s Agent with someone, and that Agent is the one who showed you the house you re interested in making an offer on, you are CONTRACTUALLY OBLIGATED to have your contracted Buyer s Agent represent you--help you determine...

Buying or Selling a Home: home buying, buying, selling
buying, selling, fixing: Hi Ester...keep in mind you can pay off a loan any time (unless called out that there is a predetermined pre-pay) sooner if you so choose... due to the small amount of money $45,000 it may be easier to obtain the equity line...in fact if you can get an...

Buying or Selling a Home: home equity, home equity loans, haves and have nots
home equity loans, haves and have nots, home equity loan: Hi again ESTHER-- Get in touch with your Buyer s Agent ASAP! Also, if you haven t already found a Loan Officer(LO) to handle your financing, do that ASAP too! You need to discuss your wants and needs , your haves and have nots regarding how...

Buying or Selling a Home: Insurance and Liability, liability in post occupancy, closing and letting the seller stay
liability in post occupancy, closing and letting the seller stay: Dear Brian, Thank you for your question, and YES! I would definitely ask the owner and occupants of the property to sign a waiver of liability. Remember, you are the new owner and you will bear with the responsibility and liability if something was to...

Buying or Selling a Home: investment property, buying, investing
buying, investing, mortgages: Hi Ester... NEVER pay over market value unless you know the market is poised to have a run up as we saw before the crash... then you can buy and sell quickly and make money... As an investor... you ALWAYS make your money on the PURCHASE, never on the...

Buying or Selling a Home: landlord selling house, financial obligation, rental agreement
financial obligation, rental agreement, legal opinion: Dear Byron: I can only sympathize with you. This is typical in this kind of market and has left many a person in a terrible situation. You are bound by a lease, but unfortunately, the landlord is not. Please keep in mind that asking the bank to consider...

Buying or Selling a Home: I'm current on my mortgage but I need to relocate to a nother city immediately, las vegas, homes for sale
las vegas, homes for sale, real estate: Hi Byron, whether or not the mortgage company will take it back is up to them and varies from region to region. This is called a deed in lieu of foreclosure, and it will impact your credit negatively. Most lenders have discontinued this practice because...

Buying or Selling a Home: mis representation, Real Estate Commission, compensation
Real Estate Commission, compensation, Misconduct: Hi Nick, I don t know about Indiana but in Georgia we are required by law to submit all offers no matter what they are. Now I think, there may be a time line here, but I m not for sure. Did your offer come before or after the Seller fired the agent? Sounds...

Buying or Selling a Home: Getting preapproved, pre approval letter, escrow period
pre approval letter, escrow period, half point: Dear RL: Good for you, pre-approval is going to be your best best for success and for prevailing over other bidders. I would suggest calling the mortgage person who will be writing your pre-approval, and ask the questions you asked me. It is a good idea...

Buying or Selling a Home: Quick deed, Land Deeds
Land Deeds: As stated in your subject line, my experience with land is that a quick deed, as long as it is not contested is the quickest and simplest way to deed property. The other siblings must sign the quick deed as you mentioned in your comments above, consult...

Buying or Selling a Home: questions about selling condo, furnace blower, laundry room
furnace blower, laundry room, appraisal value: You will need to have a talk with an estate or probate attorney whether you like it or not, Melissa. That s the law. The law provides for payment of any liens, encumbrances, bills or rehabs the condo will require. Once you talk with the attorney you will know...

Buying or Selling a Home: quitclaim deed, quick claim deed, warranty deed
quick claim deed, warranty deed, detail search: Dear Gail, In most sales, a buyer will acquire the property by doing a detail search of title. However in the event of a quick claim deed, the title and all the defects of title are transferred to the new owner. So most buyers will do a detail search of...

Buying or Selling a Home: Rent to Purchase, pay stubs, lease period
pay stubs, lease period, local real estate: Dear Terry, Thanks for your question. Usually with a rent-to purchase, the owner collects a deposit for the rent part of the agreement and a deposit for the sale part of the agreement, as well as monthly rent. The agent is not allowed to collect...

Buying or Selling a Home: real estate license renewal, luck jim, associate brokers
luck jim, associate brokers, real estate license: HI JOHN--Renewal requirements are set by the State issung the Licese. Here in Washington State it s every two years, with a fee and a minimum of 60 clock hourse of Continuing Education(CE) for renewal of the Saleman License.In some states it s 3 years,...

Buying or Selling a Home: Any recourse?, seller disclosure statement, mold remediation
seller disclosure statement, mold remediation, remediation company: Dear Dawn; When there is an area that is carpeted it is difficult to inspect beneath it. One has to rely on the seller disclosure statement. There should be something that refers to flooding, moisture problems, etc. Since there was obviously no disclosure...

Buying or Selling a Home: Any recourse?, errors and omissions insurance, fall in chicago
errors and omissions insurance, fall in chicago, first dawn: What you have to do first, Dawn, is to assess the value of the work that has to be done. That means getting the necessary experts to look at and give you their prices to replace everything. Once you do that, you would have to send letters to the inspector,...

Buying or Selling a Home: Any recourse at all???, interesting real estate, fall in chicago
interesting real estate, fall in chicago, minute consultation: Hey, Dawn. Since you re in Illinois, which has some interesting real estate laws, the best thing you can do is to contact a real estate attorney. Most attorneys give you a free 30-60 minute consultation, so take advantage of that. Basements are problematic...

Buying or Selling a Home: For Sale by Owner, childrens names, lawer
childrens names, lawer, legal opinions: Hi DIANA-- I suspect she ll need BOTH an Agent AND an Attorney to handle this complicated situation!When Grandma put the property in the names of ALL eight(8) of her kids she made it impossible for any ONE (1) of them to legally do anything about, with...

Buying or Selling a Home: Selling 5 acres with house, survey, legally defined
survey, legally defined, paid in full: Hello Giselle, I am assuming that if you only used half of the land for the mortgage, I assume the part without the house, that the property was surveyed then or had previously been subdivided. A property can t be mortgaged unless it is legally defined....

Buying or Selling a Home: Selling Everything, primitive houses, local realtor
primitive houses, local realtor, affordables: HEY ROBERT-- I d have to know a whole lot more about these properties than that they re all three in the U.S. Virgin Islands and one hs a pretty good view of the water in order to suggest any kind of Marketing Plan for you! First I d need to know...

Buying or Selling a Home: Selling Property in CA that is in a Revocable Trust, palm desert area, revocable living trust
palm desert area, revocable living trust, successor trustee: You may be the main beneficiary, Lou, but I suspect your mother is the trustee. The trustee is the boss of a revocable living trust. You are probably the successor trustee, I suspect. So when the condo has sold, as the trustee she may do as she wishes with...

Buying or Selling a Home: selling half of property, mortgage payments, mortgage payment
mortgage payments, mortgage payment, tho: Hi Chuck, That is really nice of your Brother to offer to help you out. I really think you should address this question to an Attorney tho. There are way more issues at stake than the fair market value of the property. I wish I could help you more, but this...

Buying or Selling a Home: selling my home, distressed owners, full time real estate
distressed owners, full time real estate, asking this question: Dear Carol, Thanks for your question. Companies like the one you are referring to are profit companies in the business of buying and selling homes. They usually buy homes from distressed owners that need to sell quicker than through the regular market....

Buying or Selling a Home: short sales, trustee sale, auction
trustee sale, auction, short sales: Robert, Yes, a bank can sell your home at auction even if you have an escrow open. It is very important to have your real estate agent work with the bank to extend the trustee sale (auction). I assume that if escrow has been opened you have a buyer...

Buying or Selling a Home: tearing down old trailer, want ad digest, double wide mobile home
want ad digest, double wide mobile home, single mom: Hi Linda, No, Sorry, I don t know of anyone specific in Colorado who does this kind of work, however, you might want to go to: www.MHBay.com It is a Mobile Home web site that has lots of links that you might find helpful. If that doesn t work, then...

Buying or Selling a Home: trying to find old friend, real estate investor, jim root
real estate investor, jim root, luck jim: Hi TERESA-- There s a WILLIAM PETE CUNNINGHAM who s a North Carolina State Representative. He a single gentleman of some 70+ years,who served as a Paratrooper in the Army and did a tour in the Navy, too. After his military service he worked as a Real...

Buying or Selling a Home: viewing other contracts, forclosed home, drivers seat
forclosed home, drivers seat, good question: Good question, believe it or not this happens all the time, a property can sit with no activity for a long time. The time you think it is good to make an offer, offers come out of the wood work. It has happened to me many times. The other agent has no reason...

Buying or Selling a Home: Wanting to buy a damaged, Pre-Foreclosure home, court house, couches
court house, couches, foreclosure: Hello Brittney; First, you need to know the actual value of the home if in good condition. This is easy to determine by checking surrounding homes of equal size and similar amenities (when fixed up.) Let s assume that the home is worth $200,000 (for purpose...

Buying or Selling a Home: Buying / Renting home after MHAP modification, transfer interest, renting home
transfer interest, renting home, buying a house: Good luck, April, because your house-purchasing credit may not be as strong as a lender might require, especially with the fact that you have just started a new job. A new job has always been a negative factor in buying a house, even in the best of times....

Buying or Selling a Home: bankruptcy and short sale, bankruptcy process, bankruptcy judge
bankruptcy process, bankruptcy judge, bankruptcy attorney: You should pose that question to a bankruptcy attorney, Belinda, to make sure you understand the process, but in any sale of a property that is subject to a bankruptcy everything is frozen until the bankruptcy judge has released the property from the process....

Buying or Selling a Home: To buy, or not to buy: that is the question., kansas city missouri, missouri area
kansas city missouri, missouri area, teaching job: Right now is a buyers market for the first time in years. I happen to be in the MLS that contains all of North Texas including Dallas. Definetly a good time to buy and if you have to sell in one year, you should recoup your money if you buy the type of house...

Buying or Selling a Home: To buy or not to buy?, kansas city missouri, least five years
kansas city missouri, least five years, personal philosophy: Hey, Renee. My own personal philosophy is that I should plan on living in a house at least five years before selling it in order to be able to sell and make money, so if I were in your shoes, I would continue renting until my location was definite. The...

Buying or Selling a Home: buying a short sale, buying, selling
buying, selling, investing: Hi Ester... you do not inherit the debt of the prior seller... the seller may get a 1099 and own income taxes on the unrecovered debt... so these can be a very good thing for buyers in todays market... they just take a while to get approved... do...

Buying or Selling a Home: buying out spouse, jessica bryan, what this means
jessica bryan, what this means, claim deed: Find out if your state uses a quit claim deed and if so access one on some legal forms website. What this means is that your wife will relinquish her interest in the home and all claims on future profits. If you have a loan on the home(mortgage) you should...

Buying or Selling a Home: Cancelling a home purchase, jessica bryan, state of california
jessica bryan, state of california, due date: Dear Dan; A home can be listed as active (for back up offers) right up to the closing. Since it appears that the sellers have instructed their agent to change the listing to Back on Market they may have been alerted to the fact that you are not going to...

Buying or Selling a Home: cancelling agreement to sell home, duress, cancelling a contract
duress, cancelling a contract: Hello Connie - Taking your home off the market because your plans have changed is legal. Refer to your contract for terms regarding cancellation, temporarily off-market, or off-market. It is not normally considered a breach of contract if you elect to take...

Buying or Selling a Home: closets, wardrobe space, jessica bryan
wardrobe space, jessica bryan, personal preference: Dear Robin; While your husband may like the look of Armoires they do nothing for the value of the home. A room without closets is usually not even considered a bedroom. For resale, unless the Armoires are included in the sale of a home the bedroom will...

Buying or Selling a Home: deliquent tax property, real estate broker, delinquent tax list
real estate broker, delinquent tax list, local real estate: This is a precarious thing to do, DW. You don t say in what state the property is located. Each state has its own tax-delinquent foreclosure rules. You will have to talk with a good local REAL ESTATE attorney. That person will know the property s laws. ...

Buying or Selling a Home: disclosure, remediation plans, jessica bryan
remediation plans, jessica bryan, extenuating circumstances: Hi Edward; Any time a Seller has knowledge about a home that is significant information and/or a material fact that might affect a Buyer s decision to make an offer on a home or even how much to offer on a home; it is essential that this information be disclosed...

Buying or Selling a Home: excluding persons from agents commission, luck mike, leiu
luck mike, leiu, mobile homes: Hi Michael...I guess that particular agent doesn t need the business! I don t know the state you are in, but I write clients desires on contracts all the time. Remember, I do mobile homes in California, not real property. You are the boss , and good...

Buying or Selling a Home: exclusive offer, contingent sale, real estate
contingent sale, real estate: Mike- What you have indicated is reasonable. However, assuming you (your agent/their agent) are utilizing the California Association of Realtors contract and specifically the Contingency for Sale or Purchase of other property contract, note at item A. 6....

Buying or Selling a Home: Failure to Disclose, disclosure
disclosure: Did you have a Buyer s agent? The listing agent should have provided a Seller s Disclosure and if it wasn t on there, and you can prove the seller knew it, then the seller is liable. Ask your attorney. He can look at your documents you signed and tell you,...

Buying or Selling a Home: Failure to disclose issue in Arkansas, Water Rights, Precedence
Water Rights, Precedence, Good neighbors: Hi Tim, First your friends need to check their deed and County records to see if the neighbor has a legal right to the water. If they do, end of discussion. But if they do, then they should share expenses on any well problem on the well itself. Also, it should...

Buying or Selling a Home: Financing a property that's "as is", hard money lenders, hard money lender
hard money lenders, hard money lender, high interest rate: Never, never do or pay for any work on a house until that house is in your name, Dennis. I could stop there and that would be enough. However, there are ways to handle this transaction. You can ask the bank if they will indeed put the necessary funds in...

Buying or Selling a Home: First-Time Home Buyer in Bakersfield, bakersfield area, time home buyer
bakersfield area, time home buyer, first time home buyer: Hi Michael, I don t work in the Bakersfield market, so as a disclaimer I think you should contact a local agent and discuss your situation with her / him. My personal opinion would be to rent if you aren t going to be staying more than 3-4 years. It...

Buying or Selling a Home: First Time Home buyer, time home buyer, first time home buyer
time home buyer, first time home buyer, initial contract: I would say ask the lender. You should be able to use the contract you had. But since this administration changes the rules on a daily basis, it is hard for anyone to know the correct answer, since they don t know the correct answer. Try it, there is nothing...

Buying or Selling a Home: fixer upper, maine winters, true condition
maine winters, true condition, mls service: Hi Joyce, I apologize for the delay in answering your question, and I am sorry to hear of your problem with your listing agent. If your house is a fixer-upper, your real estate agent needs to disclose this in all advertising and also in the MLS service....

Buying or Selling a Home: HOA fee and Sepecial Assessment, HOA fees, Special Assessments
HOA fees, Special Assessments, Prorations: Hello If the Special Assessment is not something levied against new owners, it should be prorated along with the HOA fee. In other words if these fees have not been paid for the year, you should be credited and the Seller should be debited on the HUD 1...

Buying or Selling a Home: home equity, buying, selling
buying, selling, helocs: Hi Ester... you have a number of question here ... so ... 1. on the loan home equity get the best rate you can with the lowest fees and best pay off options... take your credit report with you as you shop... don t allow different lender to run your...

Buying or Selling a Home: Insulation in 1960s home, building codes, insulation
building codes, insulation, crawl space: Hello Bill - A property does not need to be brought to code. Although inspection companies must indicate that the code has changed and usually state the new code as a recommendation (i.e. GFI outlets in wet areas). Todays construction process is to staple...

Buying or Selling a Home: inherited house without clear title, first american title, real estate broker
first american title, real estate broker, professional job: Why your husband s parents would accept a house without clear title is way beyond me, Debbie. Now you will have to go through the expense and time to get it straightened out. I would suggest hiring a good title man at, say, First American Title, and see...

Buying or Selling a Home: Listing ageements, lucks, local real estate
lucks, local real estate, real estate agent: In Florida, the listing agreement has to be signed by all legal owners on title of the property. This shows that all the owners of the property are giving authorization for the property to be listed and marketed for sale. In Arizona it is probably the same...

Buying or Selling a Home: leaseholder, termination clauses, lease forms
termination clauses, lease forms, moving expenses: Hello Andrew, Thank you for your question. Your lease should be binding on everyone, but there may be some termination clauses in the lease. There are multiple standard lease forms, some with no termination clauses where the lease is binding as is...

Buying or Selling a Home: MLS, multiple listing service, local multiple listing service
multiple listing service, local multiple listing service, mls area: For sale by owner flat fee would mean the multiple listing you ll be involved with will charge just that, Paul. A flat fee. No other fees involved. A local multiple listing service is one that serves an area that is within the area that you live. If a person...

Buying or Selling a Home: mislead at about repairs..., professional home inspector, john mckenna
professional home inspector, john mckenna, slab on grade: When your real estate agent said that you did not need to follow the home inspectors instructions, that was your first red flag. Sad to say, but many times a realtor wants to make his commission and will point you toward that goal, even to your own harm....

Buying or Selling a Home: owner selling property, showings, renters rights, property showings, rental apartments
property showings, rental apartments, lease renewals: Based on what you said, Ann, my guess is that there is no law that says you COULD NOT be present when the property is being sold. The landlady probably just wants to make sure nothing gets in the way of selling the property. And long as you don t make problems...

Buying or Selling a Home: paying off a house vs paying off a car debt, buying, selling
buying, selling, payoff: Sorry Esther... your husband is right... keep in mind any car is a depreciating item... you home will increase in value over the years... you most likely have a low interest rate, deductible...not so with the car..you actually do better in the end with the...

Buying or Selling a Home: property with 3 years delinquit tax that will not be taken by the city until june of 2011, tax lien certificates, adverse possession
tax lien certificates, adverse possession, wagoner oklahoma: Let me unconfuse you, Mae. In Oklahoma they use tax lien certificates. The county conducts a sale of those certificates and the winning bidder is supposed to be paid back what he paid for the certificate(s) plus approximately 1.5% monthly interest as penalty...

Buying or Selling a Home: purchased business opportunity, real estate broker, running a business from home
real estate broker, running a business from home, eviction process: You know, Wayne? We real estate brokers must have at least two years under our belt before we can become a broker. There s a good reason for that: Experience and ethics. I just cannot believe that the travel bureau business is any different. Based on what...

Buying or Selling a Home: Quit Claim & Escrow, real estate law in california, legal answer
real estate law in california, legal answer, flat fee mls listing: Paul, Not to disillusion you, but nothing today is like the old days – except the old timers. The type deed you will use to convey your property depends on the ownership interest you have now. I would recommend having an attorney or title agent draw...

Buying or Selling a Home: Real Estate Agent Compensation, PLLC, PC
PLLC, PC, licensee: Hello Nate - Each state has different regulations. In Arizona, the type of entity must be a PC/PLLC - Personal Corporation/Personal Limited Liability Company and yes in Arizona the licensee is allowed to form a personal entity as a PC or PLLC provided the...

Buying or Selling a Home: realtor, how to find an agent, search for an agent
how to find an agent, search for an agent, find an agent: Hello Mar - There is a difference in the services provided by a REALTOR and a non-REALTOR. Anticipating you have already asked friends for a referral (the ultimate objective of networking for any business) and questioned WHY they thought the agent was qualified,...

Buying or Selling a Home: realtor duties, real estate salesperson, jessica bryan
real estate salesperson, jessica bryan, provisional license: Dear Carson; First, why would you be using a real estate salesperson who had fraudulent activity on or in any business? If you have an option, use only someone with whom you feel comfortable, who is honest, and ethical! By the way, the difference between...

Buying or Selling a Home: What rights do I have as half owner., home improvement, home inspection
home improvement, home inspection, home loan: I would contact an attorney immediately. The modification loan should have required your approval as a co-signer. As far as your credit, unfortunately I do not see how the attorney can clear your credit. I would consult a attorney in your state to conform...

Buying or Selling a Home: Shared driveway, easement rights, jessica bryan
easement rights, jessica bryan, beep: Hi Tricia; Since your property granted a legal easement to the neighbors for the use of the driveway, the only thing I would suggest that you do is to post a sign that says; Shared driveway do not block! I am sure that your neighbor s guests do not understand...

Buying or Selling a Home: Short sale - difficult seller, short sale maryland, buying short sale maryland
short sale maryland, buying short sale maryland: Hi Jennifer, AllExperts just sent me a message about your question, so sorry for the delay, I didn t get the initial notification email. Technically the seller would be in breach of the current contract if the closing doesn t happen by the 20th. But the...

Buying or Selling a Home: Should I sell?, jessica bryan, home equity loan
jessica bryan, home equity loan, transfer taxes: Hi Ron; If the situation is as simple as you describe then I would agree that selling would be the best solution. However, there are a few other factors to consider. Even if your home is worth $169,000 is that the price someone will pay for your home? ...

Buying or Selling a Home: Should I sell?, buying home in maryland, equity in home maryland
buying home in maryland, equity in home maryland, selling house maryland: It sounds like you are in a very typical situation in this market. House values have dropped in many areas around the country. When you refinance, there needs to be enough equity in the house so the bank will loan the money and if the value has dropped substantially...

Buying or Selling a Home: Should I sell?, home equity loan, real estate broker
home equity loan, real estate broker, second mortgage: It s good that you have been making your payments on time, Ronn. As long as you have the funds to buy another home, your credit should be in good condition to indeed buy another. However, I would recommend you become a tire-kicker and see what kind of houses...

Buying or Selling a Home: sell a multi unit, depreciation schedule, family trust
depreciation schedule, family trust, brother sister: Assuming the five of you own the properties equally, your sister indeed would be responsible for capital gains in relation to her ownership if she continues to have her ownership. But she has barely come into ownership, so as of now, she may not have any capital...

Buying or Selling a Home: selling an FHA home, recovering from a heart attack, fha loan
recovering from a heart attack, fha loan, loan situation: When you buy a house subject-to, you are buying it subject to the existing loan obligation(s). You re not assuming the loan(s), you re just letting the seller know that you know the loan(s) are there and it is your intent to continue to make the payments...

Buying or Selling a Home: selling home without the use of a realtor - unique situation, real estate lawyer, necessary paperwork
real estate lawyer, necessary paperwork, realor: Hi Bonnie; Yours is a good problem to have! Since you already have the Buyer, I would say that the only reason to have a Seller s agent would be to possibly help with appointments and inspections in the event that you want someone present and you are not...

Buying or Selling a Home: short sale, board of realtors, chase bank
board of realtors, chase bank, department of real estate: First of all, Bonnie, you DO have the right to have your offer to purchase to be presented to the seller, and/or the bank in this case. If at any time your offer is not presented, you may go to the local Board of Realtors and/or the state department of real...

Buying or Selling a Home: Title, legal remedy, manufactured home
legal remedy, manufactured home, fiance: Based on how you presented your dilemma, Kim, you are now in Legal Remedy land. That means your next step is to find a good TX real estate attorney and get your dilemma solved. Yes, I suppose it is going to cost, but a good attorney would be able to get your...

Buying or Selling a Home: title, title insurance company, real estate transaction
title insurance company, real estate transaction, fiance: Oh boy, Kim, it appears your fiance may have been taken. Whenever you buy real estate of any kind it definitely should go through a closing process in which a title insurance company makes sure the property being purchased is owned by the seller as represented....

Buying or Selling a Home: Want to buy a Foreclosure Home, foreclosed home, foreclosure properties
foreclosed home, foreclosure properties, home for sale: Hello, Normally foreclosed homes are as is and you are not able to negotiate with bank owned properties except for major items such as HVAC (AC), roof, foundation, etc. Most banks will not allow allotments for bathrooms and kitchens. Most foreclosed...

Buying or Selling a Home: Young, naive, and taken for a $150,000 ride, mouse traps, rat poison
mouse traps, rat poison, duty army: You don t say in what state the property is located, Ingrid, but in the main most of your complaints are valid. If I were in your shoes, I would immediately go and talk to the Realtor s (I d be ashamed to know that she is a Realtor) broker, her boss and lay...

Buying or Selling a Home: Bad deal getting worse. Can we get our earnest money back?, contingencies, escrow
contingencies, escrow, earnest money: Keith, First, answering specific questions about deposit returns and contract terms is difficult on a forum like this because I have not seen the actual contract. So, I answer based on the information you have given and must add a disclaimer that with any...

Buying or Selling a Home: Breaking a Residential Contract to sell home with Realtor, buyer agency agreement, local realtor
buyer agency agreement, local realtor, unconditional release: Marie A listing agreement is a legally binding Contract, just like any other type of Contract. There are, however, ways to terminate a listing agreement… depending on the circumstances. An agent is bound to certain fiduciary duties under a listing...

Buying or Selling a Home: Buy-out calculation, realtor commission, real estate broker
realtor commission, real estate broker, neutral location: Not unless the house was indeed being sold to a third party, Grant. Otherwise, whatever makes the airplane fly. An offer is an offer and may deserve a counter offer. After all, you are the one who wants to separate the interests and therefore you are starting...

Buying or Selling a Home: Buyer breaks contract, appraisal contingency, arbitration clause
appraisal contingency, arbitration clause, faith deposit: Dear Geneva: I do not have a copy of your contract, so I can only give an opinion. To get a firm legal response, please be advised that I cannot practice law without a license and you may need to seek out a real estate attorney. Your contract probably...

Buying or Selling a Home: Buyer not permitted to rent to current owner, Short sale, default
Short sale, default, renting short sale: Marsha - I am not familiar with Florida laws regarding short sales, so it is best to consult with a local professional real estate agent or a real estate attorney. If it is the new buyer s lender, not sure why they care. They require to see the lease...

Buying or Selling a Home: broken furnace, heat exchanger, furnace
heat exchanger, furnace, bough: Dear Greg, Thank you so much for your question and I am sorry this happened to you. Once you purchase a property, you are responsible for the property as well as anything that breaks. So you cannot hold the owner responsible for something that happened...

Buying or Selling a Home: Closing in 20 days, lawyer not responding to calls/emails, first time buyers, legal aspect
first time buyers, legal aspect, standard practices: Hi Joel; While standard practices differ from one area to another, the one thing that we can all expect is good service and responsiveness no matter where we live or move. Since you are the one who is paying the attorney her fees she is employed by you and...

Buying or Selling a Home: Commission Obligations When Switching Agents, cancellation clause, marketing efforts
cancellation clause, marketing efforts, good luck: Dear Carol, Thank you so much for your question. Most listing agreements have a protection period to the listing broker. During this period, the broker s commission is protected if a buyer that was procured by the marketing efforts of the listing broker...

Buying or Selling a Home: cancelling sale of home in Trust problem, las vegas, real estate
las vegas, real estate, homes for sale: Hi Joe, I wish I could advise you, but this is really an attorney question best answered by a law firm in the state where the property is located. On the face of it, if there are two trustee signatures required, it should not be any problem to void the...

Buying or Selling a Home: commission, jessica bryan, consultation fee
jessica bryan, consultation fee, indirect result: Hello Diane; The answer to your question depends upon your listing agreement. Most listing agreements state that any potential buyers are considered the direct or indirect result of the efforts of the listing broker and therefore, even if the listing has...

Buying or Selling a Home: concerns about mobile home sales contract, mobile home park, mobile home sales
mobile home park, mobile home sales, contract question: OK...obviously I am NOT an attorney, but this is a contract with definite conflict of interest. Unless the PM company has a sales, or dealer license they can t do this sort of transaction. A $2000 comm. is good, and is not based on the home sale price, but...

Buying or Selling a Home: covenance, charles dick, wa state
charles dick, wa state, local real estate: You may want to first contact the builder, Charles, and ask about their overlooking the covenant you apparently have connected to your deed. Be sure to talk with the president of the company or the company s legal department. If it has not been satisfactorily...

Buying or Selling a Home: First-time homebuyer questions, buying, selling
buying, selling, contingancy: Hi Mark, Congratulations on making the decision to buy... prices are great and interest is at an all time low... To answer your questions, Read your contract to purchase very carefully and be sure you have your own agent to look after your best interest......

Buying or Selling a Home: Buyer breaks contract, acene, college business
Buying or Selling a Home: Buyer breaks contract, acene, college business, business law

Buying or Selling a Home: first time home purchase, agency relationship, real estate
agency relationship, real estate, exclusive listings: Steve - Certainly there are many on-line sites that you can search for homes that meet your basic criteria of price, size, and are doggy compatible. If you choose to work with an agent, it is best to also work with a lender to become pre-approved for a...

Buying or Selling a Home: Housing Development Project, target mail, housing development project
target mail, housing development project, mail ads: Dear Ayla; Since I am a Realtor, I would naturally say that you should list the homes and development with a brokerage who will then market the development for you. The cost is a commission for each home sold but that is usually included in the price of...

Buying or Selling a Home: house of the market, real estate transactions, brokerage company
real estate transactions, brokerage company, contract law: Hi Greg, I’m not sure from your question if you signed a listing agreement and never received a copy back, or if you NEVER signed anything at all with a listing company. I’m going to give you some answers based on both scenarios. IF YOU SIGNED A LISTING...

Buying or Selling a Home: Inherited property, financial bind, negotiation tactics
financial bind, negotiation tactics, property question: Assuming you could qualify for a mortgage for 50% of the value of the property (the bank would send their own appraiser to validate the value of the property), your only choice would be to get a new loan with a bank. If you are looking to gain more by paying...

Buying or Selling a Home: Inherited property, tax adviser, question thanks
tax adviser, question thanks, tax expert: Thanks, you will need to get an appraisal to determine the pre inheritance value, cost about 350.00. It is rental property IF you or parents have accepted any rental fees. it WILL HAVE TO BE TREATED AS RENTAL, if you sell. I would let your sister find...

Buying or Selling a Home: inadaquate mobile home inspection, mobile home inspection, kitchen faucet
mobile home inspection, kitchen faucet, inadequate inspection: A legitimate home inspector is insured against errors such as this, Sandra. First, contact that inspector again and get him to amend his report. That doesn t mean necessarily that he would have to pay for it, but maybe his insurance company might. You may...

Buying or Selling a Home: Joint ownership of inherited house, minimal repairs, distress sale
minimal repairs, distress sale, cross words: Good question, really there is no cure, remember it takes 1 to buy and 2 to sell. My suggestion is let her get an appraisal, let her pay for it.You will find out the value, the 25 might be in line,with the current market.If not, You don t have to sell, remember...

Buying or Selling a Home: Options for selling an unsaveable home, knowledgeable realtor, water under the bridge
knowledgeable realtor, water under the bridge, deed in lieu: Be aware, Jeannie, that the bank must accept your giving them the property. Most lenders require that the borrower is behind in payments before they start considering the deed in lieu. Again, be aware it is the same as a foreclosure and it may take your...

Buying or Selling a Home: Parents home... now its my problem!, buying, selling
buying, selling, refinance: Hi Annette, Welcome to the unpermitted delema of home remodeling.... you don t mention where you are from, but I will take this from a Southern Cal snapshot. According to most city laws - EVERYTHING needs a permit! Remember - Permit = Tax = Revenue......

Buying or Selling a Home: Quick sale, quick deed, san bernardino ca
quick deed, san bernardino ca, large park: Hi Lorrie, You do not have to go through escrow, but I always advise it. How will you know if the title is clear of taxes, liens, etc. Usually only about $500....your call. You will be needing to contact the nearest HCD office (escrow would do all of this...

Buying or Selling a Home: RE Dealers, REALTOR, Licensee
REALTOR, Licensee, agent: Hello Joyce - dealers is a unique choice of words. Usually when someone asks about dealers they are referring to manufactured homes that are not affixed to the ground/lot which requires a different license to sell. Therefore I will anticipate you meant real...

Buying or Selling a Home: Realtors Improper Actions, Home inspection, home for sale
Home inspection, home for sale, selling a home: Hey Bob, I would recommend consulting with a real estate attorney, your contractual obligation may vary by state. My general understanding is you should be able to cancel the contract at anytime, especially if you take the home off the market for a period...

Buying or Selling a Home: roots in sewer, main lateral, fha loan
main lateral, fha loan, home warranty: Hey, Mario. Your situation is all too common because most home inspectors don t advise their Clients that the lateral main sewer lines are their responsibility, and very few home inspectors inspect the trees growing on the property unless they are overhanging...

Buying or Selling a Home: Selling a home in Montana on Contract for Deed, foreclosure action, title insurance
foreclosure action, title insurance, title search: You need to treat the contract for deed like a regular purchase, Shawn, only the closing and title transfer will be sometime in the future. When the buyer fulfills the terms of the purchase, then he will get the title and that is when he will get title insurance....

Buying or Selling a Home: Selling share of house to other owners, capitol gains tax, real estate brokers
capitol gains tax, real estate brokers, cpa tax: First of all, Beth, it is best to hire a good real estate appraiser. Or the brothers may agree upon using three separate real estate brokers (or agents who have much experience in the area of the house) to give their estimate of value. The brothers would then...

Buying or Selling a Home: Septic fraud, errors and omissions insurance, drainfield
errors and omissions insurance, drainfield, septic system: First thing you re going to do, Sondra, is to consult with a real estate attorney. The attorney is going to tell you that you ll have to actually build everything as required by the law. This is to establish for how much you re going to sue the seller AND...

Buying or Selling a Home: Short sale, contract days, five six and seven
contract days, five six and seven, purchase contract: Difficult to say, Mike, when I am not there. Banks are now notorious for dragging short sale transactions. They tell you two months but it most often drags on for five, six and seven months. My bet the bank will come at you asking for more down or a larger...

Buying or Selling a Home: sale of house to relative, capitol gains tax, eviction process
capitol gains tax, eviction process, capital gains tax: Dear Joni, Thanks for your question. I have learned that when dealing with family or friends, it is always better to keep things clear. In order to have a lease to own transaction, you are going to need a rental agreement between the parties as well as...

Buying or Selling a Home: Tenants In Common, exercise in futility, jessica bryan
exercise in futility, jessica bryan, full disclosure: Dear Diane; Unless you have given the express indication that you are able to sell this home, the home should not even be listed. Most agents will not advertise a home that is not available (an okay from all owners) to sell. The listing agreement should...

Buying or Selling a Home: Texas Homestead Exemption, texas homestead exemption, county court house
texas homestead exemption, county court house, real estate taxes: You can contact a title compnay to transfer the deed into your name or go down to your county court house and do it together. He will have to sign the deed over into your name. You can get a Homestead and an over 65 exemption if you are over 65! Good luck...

Buying or Selling a Home: Transfering deed, cud, property taxes
cud, property taxes, property tax bill: First thing you must do, Michael, is to find yourself an estate attorney. Chances are very good that attorney will know the process in restoring the lost will. You might check with the county recording office and see just who is the name on the title of...

Buying or Selling a Home: Water rights sold with property, legal recourse, water rights
legal recourse, water rights, property for sale: You will need to consult a real estate attorney to get an answer to this question. I will say, however, that you should have discovered the water rights when you purchased the home originally and did investigations. It would have been somewhere in your title...

Buying or Selling a Home: want to sell and move to salt lake, jessica bryan, seller financing
jessica bryan, seller financing, asking price: Dear Brenda; Selling fast means that you have to make the asking price so appealing that it gets noticed! The two things that work best is a low price and seller financing. If you can t do either of these try to do a rent to own option. That way someone...

Buying or Selling a Home: Buying a joint property, real estate broker, high maintance
real estate broker, high maintance, realistic solution: Hi; You have a problem that goes beyond a real estate question but as a real estate broker, I see this often. It is something that is quite common among Buyers. Often, when the people involved don t agree there is never any home that works. It is quite...

Buying or Selling a Home: bought/selling 4 BR house permitted for 3BR, septic company, design sketch
septic company, design sketch, drain pipes: You need to contact a good local REAL ESTATE attorney and submit your plight to him, Jason. He will go after the real estate agent (and his broker and insurance company), the builder and the county. Lots of deep pockets there. The real estate agent obviously...

Buying or Selling a Home: buying in america, first time buyer, real estate brokers
first time buyer, real estate brokers, british citizen: You must have your own special reason for wanting to buy in Detroit, Amartey, because Detroit is not what most people would choose as a holiday home and expect others to rent from you to help you make some money as a rental. In fact, Detroit has been...

Buying or Selling a Home: buying a house, maximum loan amounts, fha guidelines
maximum loan amounts, fha guidelines, owner occupant: Unfortunately I can t answer this question for you as I don t have your brother s detailed financial information and I am not a mortgage lender. The best idea would be to have him go talk with a lender and get pre approved for a loan. They will need specific...

Buying or Selling a Home: buying a house, redemption period, mortgage holder
redemption period, mortgage holder, dear henry: Dear Henry, Thank you for your letter. I am a Realtor in the State of Arizona, so I am not aware of what system California uses for commercial real estate loans. However, in Arizona, we use the deed of trust. Under this system, the lender owns an interest...

Buying or Selling a Home: buying a house, salary income, real estate broker
salary income, real estate broker, dear henry: Dear Henry: The San Diego area has a multitude of lenders. My suggestion first, however, is to contact this same website and ask the question of some specialist in the lending business. As a real estate broker, I utilize the lenders only. Second, is...

Buying or Selling a Home: buying a house, pique your interest, spending money
pique your interest, spending money, buying a house: You have posed a very simple question in a small sentence, Henry. But that simple question is going to require a complex answer. I hope you ll be able to read between the lines. First of all, you re going to have to do extensive research and homework. When...

Buying or Selling a Home: buying a house, hey henry, mortgage industry
hey henry, mortgage industry, mortgage lender: Hey, Henry. If you have the income and the credit rating, probably so. With all the problems in the mortgage industry that led to the collapse of the real estate market these past five years, getting a loan is not as easy as it once was. There s nothing...

Buying or Selling a Home: commission, agreement contract, unconditional release
agreement contract, unconditional release, bad advice: Hi Melynda, Not having read your listing agreement and not knowing all the facts in your situation, I would suggest that you contact whomever you got legal advice from and ask this question. I am not an attorney and cannot advise you as to legal matters,...

Buying or Selling a Home: denied hm modification, mortage company, mortgage payments
mortage company, mortgage payments, aol: As long as you continue to make your payments, Roger, they are going to believe that you can indeed afford your mortgage payments. That is why they denied your home modification. I have seen clients get their modification when they actually were behind on...

Buying or Selling a Home: not disclosing toxic mould, john mckenna, random checks
john mckenna, random checks, new immigrants: You need to get away from toxic mould (mold) and contact a qualified attorney ASAP. That means now. This issue should have been disclosed to you before your purchased. Get a licensed mould (mold) inspection done right away. Don t delay as this may affect...

Buying or Selling a Home: I don't want a house anymore, short sale, foreclosure
short sale, foreclosure, deficiency judgement: Rain - Whether or not you will owe on the house, is very much dependent on some specific legal situations that hard to address over a forum like this one. It is best to sit down with a real estate professional, and/or a real estate attorney to understand...

Buying or Selling a Home: Fixed Rate vs ARM, first time homebuyer, fixed rate mortgage
first time homebuyer, fixed rate mortgage, 30 year fixed rate mortgage: Hi Michael, First of all let me say that finding an FHA approved condo in California can be quite difficult. There are very few condo buildings actually approved by FHA, and the only way to know for sure is to call the listing agent for each condo and...

Buying or Selling a Home: Fixed Rate vs ARM, buying, selling
buying, selling, investing: Hi Mike... Well lets see... on the downpayment... it is what it is for today.. at 27 you should be moving through your earning years and promotion years.. so, time is on your side to keep gathering cash to fund the next downpayment... the real beauty of...

Buying or Selling a Home: Fixed Rate vs ARM, first time homebuyer, fixed rate mortgage
first time homebuyer, fixed rate mortgage, 30 year fixed rate mortgage: Hi Mike; At the present time fixed rates and Arm s are both historically low and either is really good to use depending upon your time spent in the home. If you can get a good ARM that adjusts over the next four or five years with less or the same as what...

Buying or Selling a Home: Foreclosure Auction Court House -Ca., foreclosure auction, foreclosure sales
foreclosure auction, foreclosure sales, bid price: Most trustees when they conduct the foreclosure sales for the lenders in California first require that all bidders at a foreclosure auction to show them the color of their money. But recently the trustees have been accepting a minimum amount cashier s checks...

Buying or Selling a Home: Home Loans available with ZERO down, real estate investor clubs, real estate investor
real estate investor clubs, real estate investor, fha loan: Christine- The lowest down payment loan I am aware of is the FHA loan with 3.5% down. Anything less than 20% down requires the buyer to purchase mortgage insurance. You can ask for the seller to pay for closing cost. This normally represents about...

Buying or Selling a Home: Home loan, buying a homein maryland, crofton home loans
buying a homein maryland, crofton home loans, crofton home for sale: That will depend upon your other debts and income. The higher your debt compared to your income, the more risky a lender might feel you are so ideally you ll want to have a low debt amount. In addition, it may affect the amount the lender will allow you...

Buying or Selling a Home: hello!, mobile home parks, getting a loan
mobile home parks, getting a loan, vista ca: Hi Debra, I don t live anywhere near Vista so I can t help much there, but I can tell you that mobile homes are not real estate, they are personal property. You won t find them on home websites or listed with a Realtor. I would try driving around and...

Buying or Selling a Home: home sale to son, revocable living trust, successor trustee
revocable living trust, successor trustee, reverse mortgage: Everything you mentioned, Larry, indicates you should be considering contacting an estate attorney to create a revocable living trust. With a trust, your home is owned by that trust. You are the main trustee and your son is the successor trustee (second in...

Buying or Selling a Home: Land Contracts, buying, selling
buying, selling, contingancy: Hi Stefani, You should seek the advise of a real estate attorney straight away... as all contracts are binding unless breached. Once breached there are possible consequences please get advise regarding your specific contract to the state in which you purchased......

Buying or Selling a Home: lien on property, daughter lives, title company
daughter lives, title company, aol: You can find out if you have a lien on your property by contacting a title company and they will charge you for searching the title on your property and report to you. If you expect the search to be guaranteed, they will charge you more for it. It s up to...

Buying or Selling a Home: Missouri Revised Statutes Code - § 516.030. — Disabilities--twenty-one years., missouri revised statute, missouri code
missouri revised statute, missouri code, twenty one years: A Missouri attorney would do a much better job, Chelle. After all, this is more of a law question in that it does not refer to real estate in the Missouri Code you mention. Also, if there is fraud involved you would need to talk to an attorney in any case....

Buying or Selling a Home: Getting a Mortgage for purchasing a home, hud homes, getting a mortgage
hud homes, getting a mortgage, money down: I am not familiar with HUD purchases as they are rare in San Jose. However, I wanted to provide a couple of links that might help you find the answer. Hope it helps. http://www.ehow.com/how_6763876_buy-hud-homes-money-down.html http://portal.hud.gov/hudportal/HUD?src=/topics/homes_for_sale...

Buying or Selling a Home: Purchasing, unreasonable request, home inspector
unreasonable request, home inspector, purchase agreement: Hi Brad, If you had a qualified, licensed home inspector do your inspection, you should not have to have another inspection done to satisfy this Seller. The language in your Contract of Sale should answer your question as to whether or not you can declare...

Buying or Selling a Home: Selling/buying a new home, room configuration, design consultant
room configuration, design consultant, building a home: Dear Chelsea; Based on your comments and your age, I suggest that you really need to sell the house and find something closer to the city. You asked if you should sell and build in a different area. Building a home is a process that I do not recommend with...

Buying or Selling a Home: Selling a house on contract, Mortgage, Hidden Mortgage
Mortgage, Hidden Mortgage, Default of Mortgage: Hello Rosie. Did you sell it or rent it? If you sold it to them, and they are paying a payment to you, then it sounds to me like you have a mortgage on the property. Did they sign a note? Did they sign a mortgage? If you had a standard mortgage,...

Buying or Selling a Home: Selling mortgage free home with back taxes, escrow period, jessica bryan
escrow period, jessica bryan, back taxes: Hi Chris; If you want to wait to pay off the back taxes at closing out of the proceeds from the sale you should let whomever lists the home and/or the closing attorney be aware of this. When a title search is done during the escrow period it will be determined...

Buying or Selling a Home: for sale by owner, equitable title, trust deed
equitable title, trust deed, local real estate: It s quite legal and proper, Richard, as long as it drawn up legal and proper. What he probably drew up was what they call a Wraparound trust deed, or All-inclusive trust deed. Or, if your purchase note was not recorded because you did not pay enough for...

Buying or Selling a Home: septic/ bedroom mismatch on foreclosure, tennessee regulations, fha loan
tennessee regulations, fha loan, crazy laws: According to government requirements, Jena, it is required that you have a licensed real estate agent handle this purchase for you. Therefore, if you do not buy that property, the agent who was involved in purchasing the property for you will not be paid....

Buying or Selling a Home: septic system disclosure, home warranty company, septic tanks
home warranty company, septic tanks, septic system: First thing is contact your Realtor. Who represented you? Who represented the seller? What does your sellers disclosure say? They are required to provide one. If the seller s disclosure says it worked fine, and you found all this out, they are liable. Contact...

Buying or Selling a Home: upside-down, distressed, homeowner
distressed, homeowner, seller: Hello Amy - There are so many variables to answer your questions. The initial thought is be exceptionally careful of the advice you receive from family, friends, real estate agents, attorneys, YOUR BANK, the news, as there are many people who convincingly...

Buying or Selling a Home: Vegas prices, las vegas real estate, las vegas foreclosures
las vegas real estate, las vegas foreclosures, las vegas home sales: Hi Glen, Here are the latest statistics we have available on housing price trends as of the end of November 2010. (December statistics are not yet available.) http://www.lasvegasrealtor.com/stats/Nov10CompStats.pdf You will notice that the average...

Buying or Selling a Home: adjacent property, right of first refusal, county assessments
right of first refusal, county assessments, first right of refusal: Hi Tom, First, I apologize for the delay in responding to your question. All Experts notified me that yours was pending, and I must have somehow missed it when it first came in. Granting a first right of refusal would involve a Contract, a legal document...

Buying or Selling a Home: bat infestation on newly purchsed home, home apraisal, bat infestation
home apraisal, bat infestation, fha loan: Sorry to disappoint you, Jennie, but an appraiser is not a home inspector and never the twain shall they meet . . . or be confused as doing the other one s job. Plus, when the selling party is only a relative of the recorded owner, while the owner is in a...

Buying or Selling a Home: buying from builder, wiggle room, rule of thumb
wiggle room, rule of thumb, floor plan: Hello James, Your question is fairly common one among the general public when it comes to buying directly from a builder. There are a couple of very important points to remember in the event you opt to purchase directly through them without the help...

Buying or Selling a Home: buying from builder, wiggle room, qualification letter
wiggle room, qualification letter, rule of thumb: Disregard any of that commission junk, James. It is only a device to help sell the property, I don t care how many trees the other house has. You are negotiating. They want to sell and you want to buy. Period. It s a matter of finding out what the seller...

Buying or Selling a Home: Buying/Selling Home, buying, selling
buying, selling, investing: Hi Diana, Well to start Congratulations on opening your own business! As a woman run Brokerage real estate office I know what it takes to make that plunge. However, since you are now unemployed and have changed into a new field, I think you actually...

Buying or Selling a Home: Buying/Selling Home, buying real estate, qualifying for mortgages
buying real estate, qualifying for mortgages, self employment income: Hi Diana, So many people have been downsized out of jobs lately, it is very sad. It happened to both my sister and cousin within the last six months, and both had been on their jobs 20+ years. (They have each since found new jobs, but for a much reduced...

Buying or Selling a Home: Contracts and Deeds, upfront cash, land contract
upfront cash, land contract, new ministry: First thing you must seriously consider, Karl, is that neighborhood. If you re just starting out what kind of congregation are you expecting to have? A run down neighborhood will give you the same kind of membership. However, if you are fully familiar with...

Buying or Selling a Home: Deeds and Contracts, buying, selling
buying, selling: Hi Karl, You really need a real estate attorney/closing agent. It is great that he wants to give it to you, in reality it has no value except to someone like you. You are not taking over a business,that has been abandon by the community and basically...

Buying or Selling a Home: first time buyer questions, two realtors, realtor works
two realtors, realtor works, national association of realtors: Ordinarily, Lori, Realtors who have the listing represent the seller, at least until and if another Realtor enters the picture. Plus, the listing Realtor belongs to a local multiple listing service with which they agree to share the commission with another...

Buying or Selling a Home: Inspection, foreclosure, inspection
foreclosure, inspection: How the contingencies work depend on how they are written, what state you are in, and the conjunction of both of those items. You can certainly set it up that way, but banks don t like complicated contracts. Oh, Kurtis, where to start! It s late and...

Buying or Selling a Home: Judgement From Creditor, summary judgement, mortgage payments
summary judgement, mortgage payments, creditor: The only creditor that may force you to sell would be a creditor that YOU owe money to, Bobbie. The previous owner owns the mortgage, as I understand it. She owns a lien, not the property because you bought the property from her and you have the title to the...

Buying or Selling a Home: land contract, land contract, assest
land contract, assest, lein: There is really only one thing you can do, Cindy, and that is get yourself a REAL ESTATE attorney who knows what he/she is doing. This is not going to be inexpensive. However, there are a couple things I would like to know. Was that real estate agent one...

Buying or Selling a Home: null in void, kelz, laywer
kelz, laywer, real estate agent: There are two things you must do at this time, Kelz, and that is to 1) contact the real estate agent that helped you buy the property and have that person solve the problem; 2) If you get no satisfaction, you must contact and engage a lawyer or attorney who...

Buying or Selling a Home: null in void, legal terminology, laywer
legal terminology, laywer, time is of the essence: Dear Kel; First of all when you say that you have bought a house...that means that you have closed and recorded; money has exchanged hands and your loan recorded with the money going to pay off the sellers. Was all of that already done? I doubt it. I think...

Buying or Selling a Home: Paying in cash, buying, selling
buying, selling, credit: Hi Jackie, I cringe when I hear buyers say they can get it lower because they have cash... no necessarily... Your ability to pay cash means no appraisal, and you can close faster. The only benefit to the seller is they don t have to wait the typical...

Buying or Selling a Home: Paying in cash, getting a mortgage, percentage number
getting a mortgage, percentage number, mortgage loans: Hi Jackie, Thank you for your question. Paying in cash saves you money in closing costs, at least 5% in fees and charges from a lender. If you need money after buying you can always get an equity loan with hardly any closing costs. As far as a seller...

Buying or Selling a Home: Paying in cash, location location location, mortgage payment insurance
location location location, mortgage payment insurance, mountains and rivers: Hey, Jackie. It s not necessarily more beneficial for the seller because it doesn t matter whether you bring all cash or you finance. When the transaction closes, the seller gets all cash. The only thing that having all cash does is let you close earlier...

Buying or Selling a Home: short sale?, income verification loans, current mortgage rate
income verification loans, current mortgage rate, no income verification loans: Hi Ben, Thank you for your questions. You are in a predicament like so many others... Too, bad there is no loan yet where you can carry forward your short amount to a new property. There is a new program HARP coming out where as long as you have...

Buying or Selling a Home: short sales, mortgage holder, mortgage costs
mortgage holder, mortgage costs, sole credit: Dear Ben: Here is a comparison: I lost money on my stock and bonds investments during the past few years, and would like to recoup my losses so I ask the government to give my money back or pay me for my stocks so I don t lose any more money and allow me...

Buying or Selling a Home: short sales, harp program, fannie mae
harp program, fannie mae, assistance loan: Ben - Determining whether or not you can short sale the home depends on a couple of key factors: 1.) Do you have a legitimate hardship that will prevent you from paying your mortgage? 2.) Are you insolvent? 3.) Do you have a higher monthly debt payout...

Buying or Selling a Home: Zoning, jessica bryan, rowhomes
jessica bryan, rowhomes, rental apartments: Dear Kurts; You need to call town planning department and ask for someone in zoning. Ask about the restrictions or requirements for the properties on this street and in the area you are considering. Once you know if you can divide the home and use it as...

Buying or Selling a Home: buying house we live in from mother, real estate broker, secondary mortgage
real estate broker, secondary mortgage, new mortgage: Since you are contemplating buying the house from your mother, and you apparently have had a good paying record, MH, you should not have any trouble getting a new loan while taking over the title on the property. You don t say what the interest rate is on...

Buying or Selling a Home: Confused on back taxes owed on a trailer, personal pr, appraisal office
personal pr, appraisal office, back taxes: Cody - Some more ideas... : ) 1.) The seller can not sell the property and provide you with clear title unless the lien is paid or discharged. (More here http://www.etaxes.com/Discharge_of_Federal_Tax_Lien.htm) 2.) You are able to buy the land and the...

Buying or Selling a Home: Contract, offer, contract
offer, contract, listing: Hello Gordon - depending on the terms and conditions of the listing contract you signed the likelihood is that you may be obligated to pay the real estate agents if the purchase contract was originated during the effective dates of the listing contract. The...

Buying or Selling a Home: Electric, john mckenna, amp service
john mckenna, amp service, full disclosure: The buyer agreed to have the electrical upgrade done by a licensed electrician, so they have a right to know WHO did the work and the license number of this person. That was the agreement, from what you told me. It is not normal for a legal and license electrician...

Buying or Selling a Home: leaking roof, leaking roof, disclosure statement
leaking roof, disclosure statement, roofer: Hello, thank you for your question. Hard to answer your question, there are so many questions for you; Was property a foreclosure? is so, most are sold as-is.If not a foreclosure, was it a conventional sale? Was home inspected by you. First, I would...

Buying or Selling a Home: Seller backing out of contract, COE, Article 12
COE, Article 12, Inspection: Hello E - Each state has different laws governing real estate, seller disclosure, property construction codes, requirements to use licensed and bonded contractors, and each states real estate residential purchase contracts contain different customary practices...

Buying or Selling a Home: Statute of Limitations - Real Estate Contract, cold water line, real estate contract
cold water line, real estate contract, real estate questions: The statute of limitations of contracts in AZ is 6 years, Lisa Sue, 4 years if the contract was executed out of state. I would like to know something: Did you know about that old adage BEFORE you bought the condo? If so, you may be remiss in not asking...

Buying or Selling a Home: Do you think a homeowner can do his own inspection of home he is buying?, professional roofing contractor, chimney sweep
professional roofing contractor, chimney sweep, structural engineer: Hey, Cody. No, I don t. The reason is because a home inspector is combining many professions into one. He is acting as a plumber, electrician, structural engineer, concrete professional, roofing contractor, chimney sweep, drywaller, brickmason, window...

Buying or Selling a Home: Title Change Name at Closing, claim deed, county recorder
claim deed, county recorder, big hassle: You have to be praised, Betty. You have no idea how many friendships have been broken and then a big hassle ensued because one of the friends refused to cooperate to split the sheets and a nasty court case followed. You may change how the title is going...

Buying or Selling a Home: Title Name Change at Closing, jessica bryan, second thoughts
jessica bryan, second thoughts, buying a house: Call the closing attorney right away to advise them. It should be something that is explained to both of you along with notification to the lender. I don t know what the arrangement was...whether your boyfriend was paying rent and if you qualified based on...

Buying or Selling a Home: Backing out of a sale, real estate agent, rich man
real estate agent, rich man, old mother: You probably meant that the BUYER is a rich man who wants to rent it out . . ., right Marilyn? Okay, now that I got that out of the way, you signed a listing with the real estate agent a few months ago. Right? If you will read (you should have read this...

Buying or Selling a Home: conditions undoing contract Kroatia, personal contract, real estate transaction
personal contract, real estate transaction, 2 girls: There is an old saying in real estate, Helga: If it is not in writing, it was never said. That means whenever you have any kind of real estate transaction that involves the sale and purchase of real estate, you should put it on a WRITTEN contract. That way...

Buying or Selling a Home: Property Exchange and Taxes, tax advisor
Buying or Selling a Home: Property Exchange and Taxes, tax advisor

Buying or Selling a Home: FHA Loans, FHA purchase, renting
FHA purchase, renting, buying: Hi Michael, Congratulations on the purchase... since you bought the property with all intention of living at the property you should be fine by 2013 when your job relocates. They just don t want fraud loans where buyers say they will live at the property...

Buying or Selling a Home: Home mortgage with HOA lien, HOA, HOA liens
HOA, HOA liens, short sale: Brendan - Whether this is a short sale or an auction sale, the best chance is to negotiate this lien down. The bottom line, no one will take on such a lien and the longer the property sits, the more the is owed to the HOA. If you are working with...

Buying or Selling a Home: Interested in buying a condo not yet for sale, Condo, FSBO
Condo, FSBO, Florida: Hey Vanessa, Sorry for the delay; I m up in the GA mountains on vacation and service is sparse! I would approach her in the same manner you just did me and give her exactly the same reasons/logic for your interest in her unit. I have done exactly what...

Buying or Selling a Home: judgement on house, deed, mortgage lien, property mortgages
mortgage lien, property mortgages, mortgage companies: Karen, I apologize for the extended delay in answering your question. I was hospitalized unexpectedly and am just now beginning to check my email again. My original reply is still a “good” reply. You stated that you live in Pennsylvania, and PA is...

Buying or Selling a Home: Lease Purchase, pre approval letter, mortgage credit report
pre approval letter, mortgage credit report, lease purchase agreements: Hi Ralph, I would need much more information to determine whether or not this might be a good deal. I am not a big fan of long-term lease-purchase agreements, and I personally would classify a long-term lease-purchase agreement as anything more than...

Buying or Selling a Home: mobile home title issue, wheels and axles, legal recourse
wheels and axles, legal recourse, department of motor vehicles: Hey, Mark. You re in a situation where you need a Texas attorney so that your attorney can talk to her attorney. I think that s the only way you re going to get results. If you don t know a Texas attorney, your Missouri attorney should be able to find you...

Buying or Selling a Home: old home salvage, wood fireplace mantels, dataquick
wood fireplace mantels, dataquick, happy holidays: You need to find out who the owner is. You can do that by going to the courthouse or county records building where the real estate public records are kept. Many Realtors also have access to the public records for their work as Realtors. There are also companies...

Buying or Selling a Home: What options do I have?, snail mail, denial letter
snail mail, denial letter, loan commitment: Hi Glenn, I apologize for the delay in answering your email. I was hospitalized unexpectedly and am just now back to answering email. Your questions are being answered below: Questions: Should our realtor have allowed the buyers to spend hours at...

Buying or Selling a Home: Property Exchange and Taxes, buying, selling
buying, selling, renting: Because you purchased as a 1031 exchange, you need to check with your tax advisor. The goal of 1031 exchange is to not pay the tax until you are in a better tax bracket. But since you have now started to claim the property as an owner occupied property...

Buying or Selling a Home: Purchased residential land in TX, city of harlingen, warranty deed
city of harlingen, warranty deed, cameron county: Hey, Karla. In simple terms in a Warranty Deed in Texas, the seller (Grantor) merely guarantees to the buyer (Grantee) that Grantor can convey the property and has good, clear and valid title to it. It can get much more complicated, and it s the complicity...

Buying or Selling a Home: Racoon Infestation, real estate contract, contract attorney
real estate contract, contract attorney, time is of the essence: Just based on what you have said, I would think you have recourse, so it s important that you contact a good real estate/contract attorney to protect your rights. Time is of the essence. Seems to me that the home inspector might have been negligent in not...

Buying or Selling a Home: Real Estate Agent Compensation, raw land, condemation
raw land, condemation: Hi Roon, Since I have no idea what monies are in play, I d say it now depends on liability issues for the agent... so you need to see what his broker is looking to charge to cover this issue incase at some later time you decide to sue them for ??? any number...

Buying or Selling a Home: Rent or Sell?, buying, selling
buying, selling, investing: 1. the price is way high for a rental and the profit just covering means upside down, since you have to consider down time, repairs etc. 2. To sell you have to cover the seller closing costs and perhaps help a buyer (that goes to the higher % if your...

Buying or Selling a Home: Seller's Closing Costs, zillow, e mail
zillow, e mail, closing cost: Dear Melissa: The closing costs will depend on the type of loan your buyer is getting and what they ask you to pay. You will more than likely have to pay the Title Policy and it would run $1361 for a sales price of $197,000. Commission would be 5%-7% Then...

Buying or Selling a Home: Selling our house, buying, selling
buying, selling, renting: Hi Joe, you don t mention where you property is located, but here in Los Angeles county of Calif,you would be prorated on all taxes paid out to the final date that you own the property, and the new owner would get billed the balance. Check with your local...

Buying or Selling a Home: sewer hookups, seller disclosure statement, sewer hookups
seller disclosure statement, sewer hookups, sewer pipes: Hi Brandon; If there was a notice that went out about the required sewer hookup before you bought the home then the seller had to advise you of that (as a material fact.) However, since you knew that there was a sewer going in it was part of your responsibility...

Buying or Selling a Home: unsatisfied with new mobile home, unsatisfied, mobile home
unsatisfied, mobile home, good luck: Hey, Stacey. You should have a warranty of at least a year so I would think they are responsible for fixing it. They should be fixing all your other problems, too. I don t know of any major purchase in today s world that doesn t come with at least...

Buying or Selling a Home: Buying a duplex as single family residence?, single family dwelling, single family residence
single family dwelling, single family residence, fixed incomes: Hi Kit, Well, I guess that I ll take your last question first... Nothing you choose to do as your living arrangement is completely unrealistic . In my humble opinion whatever you choose to do can work for you as long as you go into it understanding your...

Buying or Selling a Home: bank appraisals, bank appraisals, jessica bryan
bank appraisals, jessica bryan, quick reply: Hi Beverly; Certainly if the bank finds out that a home is structurally unsound they would be less likely to loan on it but it is encouraged for all homes to be inspected and the buyers will find out quickly if there is a problem. The bank reviews the contract...

Buying or Selling a Home: buyer, jessica bryan, time period
jessica bryan, time period, best wishes: Dear Lee; You need to review your (expired) listing agreement to see if there is a clause that says that if you sell your home within 60 days (or another time period that is specified,) you owe a commission but after that time you no longer owe the brokerage...

Buying or Selling a Home: buying a house, jessica bryan, s real estate
jessica bryan, s real estate, money interest: Dear Don; You should probably visit with a lender before you make any decision. The lender will look at your credit history and evaluate what a bank will be willing to loan based upon earnings, savings and credit. With enough of a down payment you can bring...

Buying or Selling a Home: buying a house, spartan life, mortgage preapproval
spartan life, mortgage preapproval, search process: Hello Dan, Thank you for your questions. It seems like there are several options for you. First get a mortgage preapproval. You can do this free of charge over the phone with CBMortgage at 8884213812. This will show you how much you can afford...

Buying or Selling a Home: buying a house, buying a home, home purchase considerations
buying a home, home purchase considerations, home buying: Hey Don, I would recommend finding a mid-range home for your budget that you are happy with. I would also recommend not putting down a large downpayment unless you goal is to reduce you total payment. Most financial advisors recommend keeping things...

Buying or Selling a Home: buying and selling a home, irs publication 523, irs rules
irs publication 523, irs rules, capital gains tax: Hi Craig, Yours is more a tax question than real estate, and I am not qualified to give you accounting advice. I am, however, giving you a link below to IRS publication 523 which deals with selling your home, and I’m also giving you a “basic” explanation...

Buying or Selling a Home: buying out a sibling, comparative market analysis, deceased mother
comparative market analysis, deceased mother, real estate appraiser: You can do one of two ways, Fatisha. You can agree to hire a real estate appraiser and agree to purchase the property for the price the appraiser said it is worth. The appraisal will be in writing and will cost about $400, more or less. You should be able...

Buying or Selling a Home: Carry a mortgage, Renting, Selling
Renting, Selling, Cape Cod: OK.... First, the market is a bit sluggish, but it s not a reason to sit on a house you can t afford. In Dennis under 500K, the active/to solds ratio is 74/50. Not ideal, but not terrible either, especially in February on the cape. Also, rates won t stay...

Buying or Selling a Home: Certificate of Occupancy, home purchase, home inspection
home purchase, home inspection: Hey Drew, Most certificates are almost the same but vary by city. I would start at the city ordnance (city web site search) and go from there. Some times a phone call to the department that manages or enforces the occupancy ordinates may be helpful. ...

Buying or Selling a Home: Co-Owning and Insuring Inherited Home thru an LLC, estate asset, homeowners insurance
estate asset, homeowners insurance, year one: There are carriers (many) that will insure the property at a fair rate, even when owned by an LLC. Don t let the insurance company determine/dictate the most appropriate manner to own it, just because it doesn t meet their guidelines . Happy to help......

Buying or Selling a Home: Deposit Refund, las vegas, real estate
las vegas, real estate, homes for sale: Hi Stephen, I am sorry you are having such troubles purchasing a home! Unfortunately no real estate agent can answer this question, not even the agent that originally wrote the contract. This is how the system works: You write an offer to purchase property...

Buying or Selling a Home: Disclose?, patio slab, arizona room
patio slab, arizona room, hvac unit: Hello Frankie - It can only be included if it was done by a licensed contractor with all applicable city permits and it is heated and cooled by the mail system or a separate heat pump or HVAC system.. not a window mounted ac system. Most of the time the square...

Buying or Selling a Home: Fishy quit claim deed scam..Maybe, prime target, little fishy
prime target, little fishy, red flags: Hi Robert, I agree with you, something sounds a little fishy. We both see all the red flags being violently waved. There are many bad people out there who constantly troll the internet every day looking for situations to be able to swoop in and take advantage...

Buying or Selling a Home: down payment, loan company, interest rate
Buying or Selling a Home: down payment, loan company, interest rate, bad credit

Buying or Selling a Home: foreclosure to short sale, knowledgeable realtor, us bank
knowledgeable realtor, us bank, mr dennis: You simply find yourself a very knowledgeable Realtor with whom you list your property on a short sale, Richard. Then you advise US Bank that you are selling the property via short sale. If it turns out that they do not approve doing a short sale for you,...

Buying or Selling a Home: A-frame on the tracks, supply pipes, plumbing supply
supply pipes, plumbing supply, noise meter: Hi Gigi, This A-frame structure certainly has more defects than the average purchaser would want to deal with. Given the defects you are already aware of, please keep in mind that when repairs are started, it is a GIVEN (for properties in this bad of a...

Buying or Selling a Home: Home Buying, fee appraisal, professional fee
fee appraisal, professional fee, tax expert: Thanks for your question. The seller can sell the home for what ever he wants, he can give away the home if he chooses, he is the seller, all he has to do is pass fee simple title, ie free and clear, clean title, to you. Today you as the seller , you can sell...

Buying or Selling a Home: home buyers rights, luck mike, mrtgage
luck mike, mrtgage, mortgage bank: Hi John....if the bank is licensed to do business in NJ, no prob. These things are taken care of in escrow, by your title company. I FAX, or FEDEX papers all over the world for sigs. I think you are OK....Call your escrow company to talk to them, they will...

Buying or Selling a Home: hot water heater leaks, hot water heater, hot water heater leaks
hot water heater, hot water heater leaks, water heater leaks: Hi Bob. The Seller is not responsible at this point. There could be some responsiblity on the Sellers end, but you may have a hard time proving that the Seller knew that the waterheater had an issue. Did you have the home inspected? If so, the inspector...

Buying or Selling a Home: LSR, LSR, LSU
LSR, LSU, Finance: Hello James - Excellent questions. In Arizona, the LSR Loan Status Report indicates the loan terms that you are seeking and if available willing to close. If you are not able to obtain the loan described in the contract and LSR, and you are not willing to...

Buying or Selling a Home: lien and judgment report, mortgage note, county recorder
mortgage note, county recorder, time stamp: Yes, they may be recorded on the same day, Darrell, but if you will notice that one of them has a time stamp on it that probably is a few minutes older than the other. The one with the older time stamp (by the county recorder) is the first lien (mortgage,...

Buying or Selling a Home: offers, cash buyer, property sellers
cash buyer, property sellers, lowest possible price: Hi again, Mitch. Unfortunately there are no set guidelines to follow when making an offer on a foreclosure or a short sale. Many times, especially if they are listed below market value, foreclosures or short sales may actually sell for more than list price....

Buying or Selling a Home: Do I own the contents of the home, too?, life insurance policy, child caregiver
life insurance policy, child caregiver, medicaid rules: As long as the house is indeed in your name, Roger, you re right, no one can take the house from you. They will just have to wait two or three years. But it seems to me that your younger brother is violating his position as executor. If you want peace of...

Buying or Selling a Home: Procuring Cause, jessica bryan, extenuating circumstances
jessica bryan, extenuating circumstances, absolute answer: Hi Christine; Procuring cause is often a challenge. It would be difficult for the first agent to prove that they are the procuring cause for the purchase of a home they showed many months ago. However (in fact) they are the procuring cause! They were the...

Buying or Selling a Home: down payment, down, payment
down, payment, loan: Hello Tom - Actually the appraisal and the down payment requirement are unrelated. Actually, it is the loan guidelines that determines the buyers investment (down payment) based solely on the interests of the lender (I will use lender for a general term)....

Buying or Selling a Home: possible eviction, Covenants & Restrictions, Mobile home sales
Covenants & Restrictions, Mobile home sales: This only partially a Real Estate question. The part about the baby is a legal question and has to do with the Senior Park s Covenants and Restrictions. I must admit I am a bit curious though. The neighbor is complaining about the baby running down the...

Buying or Selling a Home: Question, selling home maryland, maryland short sale
selling home maryland, maryland short sale: The easy answer is yes. The property will need to be handled similarly as if they were married, regardless of what he has paid towards expenses. They will have equal shares if they are both on the deed. But that s not all that is involved. When did...

Buying or Selling a Home: Rent to Own, coldwell banker mortgage, realtor assistance
coldwell banker mortgage, realtor assistance, property preferences: Hello Monica, Thank you for your questions. Rent with an option to buy is an infrequent event. Matching buyers with properties they are willing to live in and can afford is a challenging job in the first place. Adding the rent with an option to buy...

Buying or Selling a Home: realtor ethic code, breach of contract, selling
breach of contract, selling, realtor code of ethics: Hi Linda, You are not unnecessarily out of luck... my suggestion is to go and see her broker manager... you are correct she can not do this without permission if you signed a contract at $100,000 higher and have no modification of terms or e-mail to the...

Buying or Selling a Home: remodel without permits, exempt from disclosure, room addition
exempt from disclosure, room addition, square footage: Hey, Rick. People buy homes all the time with unpermitted additions. I ve done it myself. If you know something, you are not exempt from disclosure. However, your disclosure could be exactly what you have told me above. In most places, you can also get...

Buying or Selling a Home: Selling a double wide home on an acre of land, las vegas, real estate
las vegas, real estate, homes: Dear Jaime, Whether or not the loan is assumable depends entirely on how the original contract for sale was written. Is there a provision that the current lien holder must approve the assumption? If not, it would seem that your mother would be able to sell...

Buying or Selling a Home: Selling or renting, real estate management companies, real estate management
real estate management companies, real estate management, aol: Yes, usually real estate management companies are listed in the yellow pages in such a category, Bunny. But be aware that NOBODY will take care of your property better than you will. So, in your hunt for such a company, you might want to ask around and see...

Buying or Selling a Home: Selling residential rental property, property management company, residential rental property
property management company, residential rental property, management agreement: Hi Renee, I apologize profusely for the lateness of this response. The All Experts system just notified me that I have two pending questions unanswered, and I do not have a record of having received either of them, one of which was yours. I would first...

Buying or Selling a Home: Studio for Sale, buying, selling
buying, selling, options: Hi Holly... Rent to own - bad deal for the buyer right now - if the economy turns down again and I believe it will, most options are 2years out... it will be anyones game as to what the lender world will look like, how the value will fair and if this ...

Buying or Selling a Home: Can I sell my house with non inspected plumbing improvements?, buying, selling
buying, selling, inspections: Hi Ian, Your best approach outside of getting permitted legal corrections... is to be totally honest in the Multiple Listing that goes over to the potential buyers... and perhaps further comment in the private agent section... I have found most problems...

Buying or Selling a Home: Can I sell my house after un-inspected plumbing improvements?, cheater vent, laundry hookups
cheater vent, laundry hookups, caveat emptor: My experience with home inspectors has not been good, the majority are not qualified and have no idea what they are doing. They seem to mostly follow a check list that they bought or stole from some inspection service. If the plumbing works without a problem,...

Buying or Selling a Home: Title company, real estate broker, husbands name
real estate broker, husbands name, buying a bank owned home: I m not sure I really understand your question. Typically lenders require you to use the title company of their choosing when you contract one of their homes. You can try to move the transaction to a different title company, but the lender/owner may refuse....

Buying or Selling a Home: Title company, buying, selling
buying, selling, closing agents: Hi Hakan, It is unfortunate that she simply did not answer you question in a timely manner the first round out... but now you know... Keep in mind... although he is in the HOA due to the subdivision beginnings... Title is a separate and non-party to...

Buying or Selling a Home: Title company, husbands name, buying a bank owned home
husbands name, buying a bank owned home, honest answer: Hello Hakan, Thank you for your questions. It is more of a legal issue, but you can call my title company and maybe get the answers you want! And maybe they can do the job for you. Island Settlement 9145898377 Susan Radzilowicz. Thanks and hope it works...

Buying or Selling a Home: Title company, legal mandate, husbands name
legal mandate, husbands name, full disclosure: Dear Hakan: I would be very upset, too. Full disclosure is usually a legal mandate in most states, including a disclosure that list affiliations. Such as a principal being associated with a particular group, title company, escrow company, and so forth....

Buying or Selling a Home: Title company, husbands name, buying a bank owned home
husbands name, buying a bank owned home, honest answer: Dear Hakan; Who chose the title company? Did the closing attorney make this choice? If so, go back to the attorney a file a complaint. If you feel that some of the facts might have been manipulated due to the lady s relationship with the builder then...

Buying or Selling a Home: Title company, husbands name, buying a bank owned home
husbands name, buying a bank owned home, honest answer: Hi Hakan, I apologize profusely for the lateness of this response. The All Experts system just notified me that I have two pending questions unanswered, and I do not have a record of having received either of them, one of which was yours. I see on the...

Buying or Selling a Home: Title company, buying foreclosures in maryland, buying home prince george's county
buying foreclosures in maryland, buying home prince george's county, bank owned property: This is a tough one that I don t know the answer to but I will give you some information that may help you in making your decision as far as moving forward. The reason this is a question that I can t answer is it is outside of my area of expertise and is more...

Buying or Selling a Home: Title company, real estate, close of escrow
real estate, close of escrow, las vegas: Dear Hakan, You really need to consult with a local real estate attorney to answer your question about whether you can be charged. Every state s laws are different and this would definitely be a legal question. However, that being said, I am assuming...

Buying or Selling a Home: Title company, husbands name, buying a bank owned home
husbands name, buying a bank owned home, honest answer: Very good question. I would recommend you contact a real estate attorney ASAP., it you are closing on monday you should have one? As for the survey, who ordered it? (That is who is responsible,in my opinion.) Do you have a real estate agent? They should...

Buying or Selling a Home: Title company, husbands name, buying a bank owned home
husbands name, buying a bank owned home, insurance commission: In my opinion, Hakan, you re looking for a problem where one does not exist. You must realize that title companies are regulated by the state insurance commission. And the title company must insure your interests per the cost of your agreement with them. I...

Buying or Selling a Home: Title company, wife relationship, husbands name
wife relationship, husbands name, buying a bank owned home: Hi Hakan, Since I am outside of this transaction, please take everything I say for what it costs you (nothing). First, r.e. agents are required to disclose a relationship, such as the husband-wife relationship you describe. If the woman works for a reputable...

Buying or Selling a Home: Title company, husbands name, buying a bank owned home
husbands name, buying a bank owned home, honest answer: Hi Hakan, I would feel suspicious as well. You need to call your escrow company in the morning (I m assuming you used one) and ask if you can switch title companies, and what the fee would be. The majority of the title fee is the actual policy, and if...

Buying or Selling a Home: Title company, husbands name, buying a bank owned home
husbands name, buying a bank owned home, honest answer: If you are buying from a bank, they are probably paying for the Title work, so they get to use the title company. But....you can close anywhere you like, if you want an attorney to look over your paperwork, then pick who ever you like. You will have your...

Buying or Selling a Home: Title company, real estate transactions, husbands name
real estate transactions, husbands name, buying a bank owned home: Hey, Hakan. At this point it s probably too late to change title companies, but the title company normally isn t subject to disclosures like real estate agents and sellers are. It s not unusual at all for various people to be related to various other people...

Buying or Selling a Home: Title company, Title Co, Closing with Title Company
Title Co, Closing with Title Company, Title Company: Hello Hakan: You re probably not going to like many of my points here, but this is a forum for answers, and not always for feelings. First off, I don t know what state you are in, but it isn t in Massachusetts, because title companies don t do closings...

Buying or Selling a Home: Valve Leak, fha loan, home warranty
fha loan, home warranty, insurance fraud: Hey, Chris. Unfortunately, you are yet one more example of why one should never waive a home inspection. At this point I have to agree with the contractor. Your home warranty should cover a lot of whatever damage there is and the repairs, but that s...

Buying or Selling a Home: Arizona home purchase, handwriting is on the wall, drainage problem
handwriting is on the wall, drainage problem, breach of contract: Hi Joe, I think the handwriting is on the wall in big red letters for you. Based on what you have written, I would run for the hills, literally. If the current owner did not revealed a serious water leak in 2009, which he himself repaired, and to the...

Buying or Selling a Home: Buyer Representation, MLS, compensation
MLS, compensation, cooperation: Hello Nadia - This is an excellent question that many other real estate licensees will appreciate. Article 3 of the NAR Code of Ethics indicates that REALTORS® shall cooperate with other brokers except when cooperation is not in the client’s best interest....

Buying or Selling a Home: Buying my mother in law's home., original mortgage, getting a mortgage
original mortgage, getting a mortgage, mother in law: It s a legitimate way of doing it, Andrew. By taking over your mother-in-law s mortgage will work in this economy because banks are not anxious to foreclose these days (technically, banks can indeed object and then foreclose when someone else than the original...

Buying or Selling a Home: Buying realestate without using my SSN", attorney bill, scrimp
attorney bill, scrimp, crux: This is really a question for your certified financial advisor, CPA or estate attorney, Bill. Despite the fact that you are talking about real estate, the crux of the question applies to your existing estate. I know you want to make sure this is cone legally,...

Buying or Selling a Home: buying a house, earnest money deposit, renovation loan
earnest money deposit, renovation loan, roofer: Since I have not seen the purchase agreement papers, Lisa, I cannot answer your question intelligently. But it would seem to me you would get a roofer WHO IS approved for that type of loan. You must REALLY like that house to let the seller push you around...

Buying or Selling a Home: Condo Investment, las vegas condos, las vegas real estate
las vegas condos, las vegas real estate, las vegas condos for sale: Hi Carrie, Purchasing real estate is all about location, location, location. You should definitely check with a local real estate agent about the demand for this particular condo development. That being said, an older well maintained condo unit could...

Buying or Selling a Home: Condo Investment, condo conversion, initial answer
Buying or Selling a Home: Condo Investment, condo conversion, initial answer, rowhouse

Buying or Selling a Home: mobile home condemned condition, yr model
Buying or Selling a Home: mobile home condemned condition, yr model

Buying or Selling a Home: Reducing the Price, city move, extended warranty
Buying or Selling a Home: Reducing the Price, city move, extended warranty, couple hundred

Buying or Selling a Home: house, credit score, misunderstanding
credit score, misunderstanding, incomes: You are under a misunderstanding, Henry. Today, in this down market, banks expect you to have at least a 20% down payment even if you have good credit. I strongly suggest you go out and find yourself a good Realtor. That person will ask you questions and then...

Buying or Selling a Home: house, How, Much
How, Much, Borrow: Hello Henry: I have two e-mails in my box from you, so I will answer them both here. First, it s really a mortgage question. A mortgage professional can tell you how much home you can afford. But roughly, it s about 30% of your gross income that can...

Buying or Selling a Home: house, mortgage fraud, reputable lender
mortgage fraud, reputable lender, qualification letter: Hi Henry, I think I just answered another of your questions, but you need to first get pre-qualified by a reputable lender to determine how much house you qualify for. With a pre-qualification letter from a lender, your next step would be to find a house...

Buying or Selling a Home: house, downpayment, mortgage
downpayment, mortgage, income credit: Hello Henry, Thank you for your question. Paying for a home involves various factors. Downpayment, income, credit and value of home. If you have enough cash you can buy the home outright with cash. If you need a mortgage, then you need to get a...

Buying or Selling a Home: house, buying home in maryland, first time maryland home buyer
buying home in maryland, first time maryland home buyer: Basic Home Buying Process Timeline 1. Make up a list of what you would like in a home including type/style of home – single family, townhouse, condo. 2. Think about the areas you might like to live; what type of commute you are looking for, schools,...

Buying or Selling a Home: house, Budgeting, Short Sales
Budgeting, Short Sales, Foreclosures: Hello Henry, This is a huge question. The best I can do is to start you in the right direction. 1. If you re paying cash read this anyway. The first thing to do is to talk to at least 3 loan officers, compare their rates, and find out how much of a loan...

Buying or Selling a Home: house, mortar joints, dirt area
mortar joints, dirt area, water intrusion: Hi Henry, I am not sure exactly what information you are asking for, but I’m going to give you the bare essentials of buying a house. 1. Choose a good lender and get pre-qualified. You need to know how much house you can afford. Even though you may...

Buying or Selling a Home: house, buying a house, mortgage
buying a house, mortgage, email: Hi Henry, Thanks for this question. I tried to answer in your first email. First you need to know how you will pay for it. If you have enough cash to buy it for cash then that is simple. If you need a mortgage, then you need to get bank preapproved....

Buying or Selling a Home: house, home buying, home inspection
home buying, home inspection, home inspector: Hello, Most people save money, a certain percentage of the home s price to pay the down payment. Once they have been approved for a loan, they will know the amount they will need to pay down. The remaining amount is usually financed by a bank or other...

Buying or Selling a Home: house, first time buyers, getting a mortgage
first time buyers, getting a mortgage, oppotunities: Hi Henry, Thanks for this question also. People get money to buy a home by saving, borrowing from family, getting a mortgage from a bank, finding an owner willing to hold the mortgage, from government agencies that help first time buyers. Check your...