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.
Gift Property May Cost Recipient In Taxes
Giving the gift of property may cost the recipient a lot of cash in taxes. There are other options for a person than giving away the property, so as not to cost the recipient much money in gift taxes. The person could give a portion of the property or the person can purchase the land and the giver can return the cost of the land to you each year. The best way to make sure the recipient of a gift of property is to sit down with an estate attorney and go over all your options.
Did Seller Know About Leaky Roof?
A home buyer moved into a new home only to find that the roof leaks. The seller had disclosed the leak, but then amended the disclosure form to say that there was no leak. A professional home inspector is key to ensuring all problems are disclosed.
Setting Up Condo Association
Normally, condominium associations are not-for-profit corporations, and each state has specific guidelines regulating them. One guideline is to have a registered agent for the condominium association. If the condominium association is involved in litigation, the registered agent is the person who will receive the legal notice of the suit.
Poor Seller Disclosure May Result In Breach Of Contract
What happens if you buy a home and the contract states one thing but the house does not match that requirement? Under seller disclosure is the seller liable for fixing the discrepancy? In this case, a home buyer believes that his new home lacks insulation which was described in the contract. Before suing the seller, a developer, the home buyer should make sure that his suspicions of lack of insulation are correct by hiring a contractor.
Understanding Seller Disclosure Law
Most states have seller disclosure laws requiring the seller to disclose to buyers know material defects in the home. Seller disclosure laws give a buyer a fair chance at knowing what the seller knows about his or her home when it comes down to material defects in the home. Some states require a buyer to sue the seller for that failure to disclose within one year of the closing on the home.
Bankruptcy Doesn’t Change Home Ownership
A reader had owned a home with her boyfriend prior to falling ill. Her boyfriend filed for bankruptcy and now claims she no longer has any interest in the home. Ilyce suggests she check with the bankruptcy court and check to see if the boyfriend has forged her name.
Ilyce Glink on WSB Radio – August 13, 2006
In a special version of the Ilyce Glink Show, Ilyce talks with David Rubinger, vice president of communications for Equifax, about the latest trends in credit histories and credit scoring. Then, she and syndicated home improvement writer Al Heavens discuss things you can do to your house to make it worth more.
Selling Soon? Get Your Paperwork In Order
When you are in the process of selling your home time is a premium. Avoid any selling mishaps by having all your paperwork ready. Here is a comprehensive list of documents you'll need to sell your home.
Finding Profit In Real Estate
A homeowner is wondering if now is a good time to take his profit out of the townhome and buy a single family home. While property has appreciated dramatically over the years in some markets, we've seen the residential real estate market soften quite a bit in some areas. Now might be a good time to evaluate options and find out where profit can be found in real estate.
No Survey Leads To Big Problems
A home owner purchased his new home without getting a survey. Now it appears that the sellers were deceptive about the property lines. Mistakes and miscommunication like this can often happen when buyers try to cut corners in the home buying process. The disclosure document should explain the discrepancy.