Have real estate questions? Here, you’ll find helpful articles and other resources that cover issues related to real estate, buying, selling, financing, refinancing, credit and debt, insurance, second homes, vacation homes, real estate investment, new construction, and renovation.
Setback Requirement Discovered After Closing
In some parts of the country, zoning regulations and other covenants that include setback requirements were enacted after homes were built in a neighborhood. Many older homes may be legal but non-conforming, therefore, they will not be in violation of the setback requirement. If the home is a new home, there may be cause for concern regarding the setback requirement.
Live From Miami, It’s Inman’s High-Net Conference
Forgive a few days without a post. I've been in Miami since Saturday, and weather-wise, it's been a most welcome respite from the freezing cold a/k/a ...
Inheritance Taxes Paid Before Money Distribution
When you inherit money and get the actual money, the estate has already paid the inheritance taxes so you don't have to worry about that. It is a good idea to think of what you'll do with inheritance money or a real estate property inheritance ahead of time. What to do with the money has to do in part with how old you'll be when you get it.
Give Gift Of Land With Quit Claim Deed
Land can be given as a gift through the use of a quit claim deed. No taxes need to be paid if the gift is valued at less than $12,000. You might need an appraisal to prove the value of the land to the IRS.
Refinanced Mortgage In One Homeowner’s Name, Title In Both Homeowners’ Names
What do you do if you purchased a home with a friend who ran into some financial difficulties, and the home was refinanced in the your name only? Should you have mortgage refinanced in your name only, even if the title is in both names? If you do, you will be stuck with all the financial responsibility of the refinanced mortgage while the friend has none.
Buying A Foreclosure? Hire A Home Inspector And Attorney For Protection
When buying a foreclosure, it's important to hire a home inspector and attorney to protect yourself from any unwelcome surprises. A foreclosed property may come with maintenance problems that a professional home inspector can identify. An attorney will a home buyer purchasing a foreclosure by making sure the contracts are legal and the seller discloses any problems the house may have.
Buying Property With Partner
A homeowner purchased a duplex with a partner and is now trying to figure out an equitable way to split expenses after the partner's fiance moved in. A partnership agreement should spell out the financial arrangement between the two homeowners. The partners should also change the ownership of the property to reflect the partnership agreement.
Housing Costs Go Up, Putting Credit At Risk
More homeowners are putting a higher percentage of their annual income toward their housing costs. The danger of higher housing costs, is that families who don't have enough cash to pay their bills at the end of the month will start playing games with the money in order to make ends meet. Don't risk your credit rating by making uninformed decisions.
Real Estate Agent Changes Fee In Escrow Papers
When you work with a real estate agent, he or she may promise you a certain fee schedule. What can you do if the real estate agent changes the fee schedule after your verbal agreement? You can call the agent's managing broker and the association of Realtors in your state.
Real Estate Prices In South Florida
South Florida's real estate market has been unstable for economic and emotional reasons. The traditional forces of supply and demand, along with super-low mortgage rates and an influx of real estate investors have helped the real estate market turn on a dime. In addition, a growing number of wealthy Latin Americans are moving into the South Florida real estate market.