Many factors have to be considered when your lender backs out of a mortgage before you can take action against them. Here are a few that this reader and I want you to remember. Q: I’m writing in regards to your response to a reader’s question that was published in my local paper several [...]
Before hiring a Realtor, this couple wants to visit a few open houses. Are there consequences for visiting an open house without an real estate agent without one? Q: My wife and I have recently started looking for a home, but we do not have a real estate agent yet. We are currently looking into [...]
Even when a mortgage broker is recommended by your real estate agent, it’s not a bad idea to shop around to make sure you find a broker that's right for you. Q: We've been working with a great real estate agent that was recommended to us by a trusted friend. The agent gave us a [...]
It's heartbreaking when we hear stories of homebuyers falling victim to wire transfer fraud. Here are some ways to protect yourself. Q: Thank you for your article in the Chicago Tribune on wire transfer instruction. Three weeks ago we were given wire instructions by our escrow company and had no reason to believe that they [...]
Your listing broker isn't legally responsible for knowing about a tax lien, but they should be aware of qualities that will make a home harder to sell. Q: We placed a contract on a home that should never have been listed in the first place since it had over $150,000 in tax liens. Am I [...]
Typically, a land contract will determine the length of time you're required to make payments on a home before you own it. As in this reader's case, factors like the death of the seller can complicate the process. Q: I got a house on a land contract in 2005 and the seller died and I’ve [...]
When it comes to quitclaimed land, as in this reader's case, you won't have legal ownership of the title if your relative didn't have legal ownership to begin with. Q: My husband's mother inherited land from a family member and isn't allowed to sell it. We moved onto an acre of it with a mobile [...]
While there are several different types of real estate agents, each state has its own set of laws regarding how real estate agents may interact with buyers and sellers. Q: As a Realtor in Florida, I read your articles in our local paper (Sarasota Herald/Tribune). I think you should have clarified that each state has [...]
A quality home inspection is crucial, but it's important to vet your home inspector before you sign a contract. Q: Can you please provide more information on one of your articles I recently read about home inspectors? The article paints home inspectors in a bad light. No home inspector should have a "liability buyout" clause. [...]
Questions of seller disclosure can be complicated. Here's what homebuyers should know. Q: I have a question about disclosure. My sellers gave me a disclosure statement that said there were no defects in the home. After we moved in and took down some drywall we found big cracks in the basement foundation. We also found [...]
