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Buying a House

Co-Buyer Wants Off Title

By | March 29th, 2007|

He helped a friend buy a home by agreeing to be the "co-buyer," but now that the friend can't make the payments he wants off the title. He is not the "co-buyer," he is the owner and his credit score depends on the payment of this mortgage.

Wait To Transfer Property Through Inheritance

By | March 27th, 2007|

It is probably better to transfer property through inheritance, rather than gifting or quit claiming the property. With inheritance, the property will be transferred at the market value of the day of the land, and both parties will avoid a big tax bill.

Buying Most Expensive Home On Block

By | March 19th, 2007|

Everyone knows they shouldn't buy the most expensive home on the block but what if it is new construction? Most buyers want a new construction home and the competition upon selling it will be homes even newer than the home you want to purchase now. It's tough to tell how homes will appreciate in a new construction neighborhood.

Buy Tear Down Or New Home?

By | March 13th, 2007|

A home buyer is purchasing a home in a neighborhood that is experiencing a common transition - many of the older homes are being torn down and new larger homes are being built. While no one really knows how long it will take for a neighborhood to complete a turnaround, it's good to have the time to wait it out. Many neighborhoods around the country are transitioning from smaller homes to larger ones.

Using Quit Claim Deed As Part Of Estate Planning

By | March 5th, 2007|

Using a quit claim deed in estate planning is tricky and can quickly turn into a legal mess. Many homeowners do not understand how a quit claim deed works. There is a lot of misinformation about quit claim deeds, and this letter is a good example.

Deveoper Charges Lender Change Fee

By | March 1st, 2007|

A buyer put a deposit on a lot in order to build a new home. Now the developer would like an additional deposit and is including a lender change fee in the contract. Here's why developers charge you for changing lenders and give tips to the reader for completing the deal.

It’s A Good Time To Be A Buyer — If You Make Good Choices

By | February 26th, 2007|

It's the first buyer's market in a decade, but it's still possible for homebuyers to make mistakes. You can truly be a buyer in the strongest buyers' market in a decade and wind up with a lousy home that was overpriced. How does a buyer avoid making a bad mistake when the market is in your favor? It requires a little planning.

Timeshare Inheritance: Pay Property Taxes

By | February 23rd, 2007|

When you get a timeshare inheritance you're responsible for property taxes and maintenance as if it were real property. Even if you don't want the timeshare, you're responsible for property taxes and maintenance until you can sell the timeshare. To determine what to do with the timeshare you may want to contact a real estate attorney.

Check Crime Statistics Before Buying Home

By | February 18th, 2007|

Check the crime statistics of your new neighborhood before moving into a home. Talk to the local police officers, shop owners and aldermen or city council members. But nothing beats your own research. Walk or drive around and check out how things look.

Buying Home With Friend Leads To Problems

By | February 15th, 2007|

A homeowner had a friend buy half her home for a short period of time. The friend now wants the equity the home earned during the time she was an owner. Even though this deal had no documentation, the friend is owed the equity on her short-term investment. A sound contract up front would have made it clear if the friend was owed equity after selling the house back.

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