real estate Archives | Page 50 of 50 | ThinkGlink
questions@thinkglink.com
TwitterFacebookLinkedinYoutube

real estate

Estate Must Make Mortgage Payments, Not Heirs Of Inheritance

By | March 13th, 2009|

When you inherit property with a mortgage, paying off that mortgage loan is the responsibility of the estate, not the heirs. If the estate lacks the money to pay off the mortgage and the bank decides to foreclose, it should not negatively affect the credit histories of the heirs. While the heirs could do a deed in lieu of foreclosure with the mortgage lender, that action would not affect the original mortgage loan whose non-payment triggered the foreclosure to begin with.

Fees When Paying Off Mortgage

By | February 23rd, 2009|

Many fees are involved in paying off a mortgage. To pay off a mortgage, a homeowner needs to contact his or her lender and request a payoff letter, for which lenders often charge a processing fee. In addition to this processing fee mortgage lenders also charge a fee to fax the payoff letter to you.

1031 Exchange: Rolling Real Estate Profits Into Another Real Estate Purchase

By | January 19th, 2009|

Investing the profits from one real estate property into another purchase requires the use of a 1031 exchange. A 1031 exchange allows you to defer any capital gains tax owed on profits you earned from selling the first real estate property when you invest the profits into another real estate purchase. There are very specific rules, but if you follow them correctly, the 1031 exchange allows you to defer taxes from the profits from the first piece of real estate as long you own your new real estate.

Zoning: How to Divide a Lot

By | January 19th, 2009|

How can you divide a lot into smaller lots in order to sell? This can be a complicated process. First you need to determine the zoning classification for your property, along with any requirements or restrictions for your property. You may also have to pay attention to subdivision ordinances. To divide a lot you probably want to hire a surveyor and talk to the local building and zoning department. Also, another question about subdivision requirements and modular homes.

Quit Claim Deed Won’t Remove Lien

By | July 17th, 2008|

When you owe money to creditors they may put a lien on your home. When you sell your home you have to pay off the liens with the proceeds from the sale. Transferring ownership of your home using a quit claim deed will not remove the liens. Using a quit claim deed in this situation may be a fraudulent conveyance.

Adding Name to House Deed Without Consent

By | February 14th, 2008|

To transfer a deed to a home, the persons involved must consent. If a person wants to give a gift of real estate, they can purchase the property and deed it to someone else. But putting someone on a deed will not be sufficient to transfer title of the property to the recipient.

Marketing Your Home During The Holiday Season

By | December 3rd, 2006|

While the winter holiday season of Thanksgiving to Superbowl Sunday used to be dead for real estate, real estate industry observers now say sales drop only slightly. What slows down are the showings, which means that the serious shoppers are out and about. Here are some tips on keeping your home presentable during the holiday season.

Seller Closing Costs

By | July 22nd, 2005|


Seller closing costs often come as a surprise to homeowners who are selling a house for the first time. A seller's closing costs often go way beyond the typical 2 to 7 percent of the sales price, simply because most sellers use a full-service agent to sell their home, which can add an additional 4 to 7 percent to the closing costs. Here's an extensive list of closing costs you may incur when you sell a house. By the way, if you've come across a strange seller closing cost, please note it below.

Taking Possession Before Or After Closing

By | March 29th, 1999|

Possession is when you actually take control of the property. It is the last thing that usually happens in the home buying process, unless a special deal is made to allow the sellers to move out after closing, or for the buyers to get access to the property prior to closing. The seller might let you take possession early so that you can move in or get started on the remodeling. If you do close, and the sellers are keeping possession for a short period of time, you should put a portion of the closing funds into an escrow account at closing. These funds are an important piece of leverage you may need if the sellers decide perhaps they'll stay after all.

see more posts

Archives

Recent Tweets