A home inspector found major foundation issues and the homeowner must repair the problems before selling the home. City home inspectors must not have found the problems but the homeowner can't sell the home until the problems are repaired. The homeowner is looking for inexpensive repairs to the foundation after the home inspector found the problems.
When you buy a property it's important to have your name on the title and mortgage, if you have one. If you buy a property with a family member and later decide to sell, but you have no clear documentation showing you're the owner, it could be a problem. Learn the legalities of determining a home's owner to enable selling a home.
A new home buyer is informed by his neighbor that his lot is not as big as he was lead to believe. This situation is complicated and could lead to a claim against the title company. Some title problems may not be covered and some are always excluded by title insurance companies.
When you buy debt from the FDIC on an apartment building, you should receive an assignment of the mortgage. What can you do to ensure your sale is valid and holds up in a federal court? And how can you appeal a federal court ruling that resulted in you losing your investment property?
Normally, condominium associations are not-for-profit corporations, and each state has specific guidelines regulating them. One guideline is to have a registered agent for the condominium association. If the condominium association is involved in litigation, the registered agent is the person who will receive the legal notice of the suit.
What happens if you buy a home and the contract states one thing but the house does not match that requirement? Under seller disclosure is the seller liable for fixing the discrepancy? In this case, a home buyer believes that his new home lacks insulation which was described in the contract. Before suing the seller, a developer, the home buyer should make sure that his suspicions of lack of insulation are correct by hiring a contractor.
Most states have seller disclosure laws requiring the seller to disclose to buyers know material defects in the home. Seller disclosure laws give a buyer a fair chance at knowing what the seller knows about his or her home when it comes down to material defects in the home. Some states require a buyer to sue the seller for that failure to disclose within one year of the closing on the home.
A home owner purchased his new home without getting a survey. Now it appears that the sellers were deceptive about the property lines. Mistakes and miscommunication like this can often happen when buyers try to cut corners in the home buying process. The disclosure document should explain the discrepancy.
When you separate or divorce you may decide to refinance your primary residence. If you refinance and execute a quit claim deed at the same time, it means that regardless of whose names are on the mortgage loan note, the only owner of the property is the one who did not sign the quit claim deed. When a court looks at the assets involved in a divorce, the quit claim deed will affect the future of the home.
A new survey revealed a lot line closer to the neighbor's home, giving the homeowner an extra 10 feet. The neighbors claim that the survey is incorrect, and they own the 10 feet. The homeowner should stake the boundaries of their lot, and investigate the tax parcel to determine if it matches the survey. It might come down to who has been paying the taxes for the extra 10 feet.
