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Homeowner Finds Home Foundation Issues, Seller Liable?

By | June 5th, 2008|

A home owner asks about who should pay for repairing his home's foundation. He discovers his home needs foundation repair five years after buying it. Whether to sue the seller depends on the cost of the foundation repair and the extent of the foundation's damage.

Quit Claim Deed Means Giving Up Ownership Rights

By | June 5th, 2008|

When you sign a quit claim deed you're giving up your ownership rights to that property. If the person who has the remaining ownership rights dies, his or her heirs will inherit the property. Former spouses who sign quit claim deeds give up all rights to those properties. Learn about some possible inheritance scenarios after quit claim deed has been signed.

How To Sell Your Own Home

By | May 28th, 2008|

A parent asks about how to sell your own home. He has a home he wants to sell to his son at a very low cost and he wants to know his options. Knowing your goals will help you know how to sell your own home. Different tax implications and laws apply depending on how you sell your own home.

Escrow Money Treated As Income For Taxes

By | May 28th, 2008|

When you receive money from a canceled contract, it's usually treated as ordinary income for taxes. When a real estate contract goes bad, the money put into escrow is treated as income as opposed to capital gains. The escrow money will be taxed at a higher rate because the ordinary income tax rate is higher than the capital gains tax rate.

Buying A Home With A Graveyard

By | May 28th, 2008|

A home buyer wonders about buying a foreclosed property near a cemetery. Could buying a home with a perceived defect lead to a lower price? Ilyce discusses pros and cons of buying a home in a less desirable location like near a cemetery or with a problem that you may be able to fix.

When’s A Good Time To Buy

By | May 28th, 2008|

What are good reasons to buy a home? Saving on taxes is not a good sole reason to buy a home. Here are several financial and personal reasons that will help you decide whether to move to buy a home.

No Reimbursement For Home Inspection

By | May 28th, 2008|

A buyer says he paid for a home inspection and his attorney shared the results with the seller's lawyer. The buyer can no longer afford to buy the home and wants to be reimbursed for the home inspection. He paid for the home inspection as part of his due diligence and the next potential buyer will likely want to hire new inspectors.

Contract Risks With Houses For Sale By Owner

By | May 28th, 2008|

A seller says he's selling his house for sale by owner. He wonders about contract risks when selling houses for sale by owner. The seller says the buyer offered to buy the home without putting money down and without seeing the home first. Sellers should have a real estate attorney help with contracts when selling houses for sale by owner.

Real Estate Advice In Relation To Divorce

By | May 22nd, 2008|

When you go through a divorce you may need to hire a real estate agent to help you sell the home you shared with your soon-to-be-ex-spouse and also to help you buy a new home. Each real estate agent uses different techniques to do his or her job and sometimes the person going through the divorce may have a hard time with some of them. Who can help you in such a situation? It helps to contact attorneys specializing in divorce and real estate prior to selling a home.

Condominium Board Won’t Pay For Maintenance

By | May 22nd, 2008|

A condominium owner has a roof leak and no one is fixing it. Her brother wonders whether she should keep paying her condominium fees. You need to check what the homeowners association regulations say about what the owner's responsibility is and what the condominium homeowners association's responsibility is to fix.

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