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Condominium Contract May Allow Builder To Keep Earnest Money

By | March 12th, 2008|

When you put earnest money down on a condominium with the intention of buying it you risk losing that money. Even if you can't sell your current condominium, that doesn't mean you'll be able to ignore the terms of the contract. It may mean that the builder will keep your earnest money even if you don't end up buying the condo.

Water Leak Appears On Day Of Closing

By | March 11th, 2008|

A home buyer finds a water leak in his new home that began before the purchased closed. If the contract provides that the seller must make repairs to the property for issues that are evident prior to the closing, then the sellers might be obligated to make the repair. Because the sellers didn't know about the issue, it couldn't have been disclosed and they likely have no obligation to make the repair under seller disclosure laws.

Brother Might Be Involved In Mortgage Rescue Fraud

By | March 10th, 2008|

Some companies claim that if a homeowner is facing trouble with their mortgage loan, the homeowner can transfer title to the home to the company and when they get back on their feet, the company will, for a small fee, transfer the title back to them. There's a common name for this scam: It's called "mortgage rescue fraud."

Buying A Home In Need Of Remodel

By | March 7th, 2008|

A reader asks about buying a home that needs remodeling. He wonders about the costs of the home and remodeling it. How much less should the buyer offer for the home that will be remodeled, if it's facing foreclosure?

Finding A Great Home Inspector

By | March 6th, 2008|

As you're getting your home ready for sale, you may want to do a prelisting inspection. You'll need to find a good home inspector when you sell your home. Visit ASHI's website and talk to people you know to find a trustworthy home inspector.

How To Buy A Foreclosure

By | March 6th, 2008|

Foreclosure expert Ralph Roberts provides tips on how to buy a foreclosure in Ilyce's column. Becoming familiar with real estate documents is essential to know how to buy a foreclosure.

Property Transfers Into Revocable Living Trust

By | February 28th, 2008|

If you want to transfer property in to a revocable living trust - can you do so without a lawyer? Because it can be a complicated process and an error with the title could cause future problems, you should pay an attorney to do it. Or you can go to a title company for help.

Become Landlord Or Sell Home After Quit Claim Deed?

By | February 27th, 2008|

When you get a home via a quit claim deed and then have to move out of state for work you're faced with a decision. Should you sell the home you received through a quit claim deed or should you try to keep it as a rental property? The decision to be come a landlord or to sell a home depends on whether you have enough money to maintain the home or feel that you can find a good tenant. You should also take tax considerations into account.

Sheriff’s Sale Looms Over Home Purchase

By | February 26th, 2008|

A home buyer purchases a home that's set to be sold in a sheriff's sale. The timing of the home purchase and the sheriff's sale conflict. The home buyer wonders if there's a way to save the home from the sheriff's sale.

1031 Exchange for Tax Liabilities

By | February 25th, 2008|

One possibility to defer tax liability when selling a property is a 1031 tax exchange or a Starker exchange. A 1031 tax exchange involves buying a new property within 180 days. You should also have a knowledgeable real estate attorney that is familiar with 1031 exchanges.

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