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What Happens to the Good Faith Deposit When the Homebuyer Backs Out?

By | April 18th, 2019|

What happens to the good faith deposit when the homebuyer backs out? If the buyer doesn’t ask for it back, the seller needs to take control of the situation. Q: We accepted an offer on our house a year ago. Unfortunately, the buyer walked away at the eleventh hour – the night before the moving [...]

How to Take Out a Loan on an Inherited Home

By | April 18th, 2019|

If you want to take out a loan on an inherited home, finding the right lender and knowing your credit score can start you off on the right path. Q: My grandparents passed away years ago. Then, last year, my mother passed. My grandparents owned a home and I paid a title company to complete [...]

Mortgage Delinquency is Down, Credit Delinquency is Up

By | April 17th, 2019|

  Mortgage delinquency rates are down, credit delinquencies are up. CoreLogic reports 30-day-plus delinquency is the lowest it’s been in over a decade. It’s a good news, not-so-good news situation. First, the good news: More people are paying their mortgages on time. Unfortunately, credit delinquencies are up as more people are having trouble getting their [...]

Does Seller Disclosure Cover Plumbing Problems?

By | April 11th, 2019|

Does seller disclosure cover plumbing problems? If there was misrepresentation on the disclosure sheet, you may have a case. Q: Three months ago, I bought a house. I didn’t have a septic inspection. A few days ago, the septic pump failed. I had it pumped, then had a plumber come to inspect. He found that [...]

What to Consider Before Purchasing Property for Friends

By | April 11th, 2019|

What to consider before purchasing property for friends. No matter how long you’ve known them, a detailed title and promissory note are always necessary. Q: My father purchased a fixer-upper for a friend and hand-wrote a mortgage payment plan they both agreed upon. Well, after a few payments, the buyers stopped making the mortgage payments. [...]

5 Top Home Design Trends from Industry Insiders

By | April 10th, 2019|

5 top home design trends from industry insiders. Home design insights from the Kitchen and Bath Industry Show and the International Builder’s Show. A special report by John Burns Real Estate Consulting offers an insider’s look at the biggest home design trends from this year’s Kitchen and Bath Industry Show (KBIS) and the International Builders’ [...]

Is it a Good Time To Buy a Home in 2019?

By | April 8th, 2019|

Is it a good time to buy a home in 2019? It just might be. It might also be a good time to sell. This morning, Fannie Mae released its March 2019 Home Purchase Sentiment Index, which is a composite index designed to track consumers’ housing-related attitudes, intentions and perceptions, using six questions from the [...]

How Much Personal Information Do You Have to Give to the HOA?

By | April 3rd, 2019|

How much personal information do you have to give to the HOA? Basic household information is understandable, but what if they go too far? Q: Recently my homeowner's association distributed a request for additional information. They asked me to provide information about who I am and the people who live with me, including their names, [...]

What Happens to Your Taxes When You Rent-to-Own to a Family Member?

By | April 3rd, 2019|

What happens to your taxes when you let a family member rent-to-own your property? The IRS has specific definitions to help, but they can get complicated. Q: I rented our old house to my daughter and her spouse as a rent-to-own property. I told them when they paid enough money I would sign the property [...]

Why Did My Real Estate Agent Take My House off the Market?

By | March 28th, 2019|

Why did my real estate agent take my house off the market? The answer lies in the listing agreement. Q: Can my broker dump my listing without notice? I found out my house was off the market by looking online. I was never notified by the broker. It this a violation of ethics code? A: [...]

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