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.
Using Power Of Attorney For Quit Claim Deed
This person wants to use their Power of Attorney to execute a quit claim deed and gain ownership of their mother's home to avoid the home being used to pay for nursing care. The government can trace transactions such as a quit claim and this one could be seen as fraud. A real estate attorney can help figure out if there is a way to structure the transaction to help the mother pay for her nursing care.
Home Buyer Ineligible For First Time Homeowner Benefits Because Of Quit Claim
A first-time home buyer already has a home that was quit claimed to them by a parent, making him ineligible for first time homeowner benefits. Ilyce talks about programs available to first-time home buyers and why this home buyer is ineligible for them because of the quit claim. Ilyce recommends the home buyer find a good real estate and real estate attorney to help him make decisions since he is not eligible for first time homeowner benefits.
Newlyweds With Two Homes
A soon-to-be-wed couple both own their own homes. They would like to sell his home to his adult child and put both their names on her home. They may run into many issues with taxes, equity, and inheritance. When they merge two families and each of them have children, they may need to determine how they want their assets to be split up in case something should happen to either of them.
Filling in for Clark Howard on Newstalk 750 WSB
One of my part-time/full-time jobs is being a radio talk show host for the top News/Talk station in Atlanta, Newstalk 750 WSB. I've been filling in fo...
Avoiding Taxes When Selling Real Estate Investment
Many people have gotten into the real estate investment business with the recent housing explosion. When it comes time to sell real estate investments, capital gains tax concerns are important. Consider using a 1031 exchange, which defers federal income taxes, when selling investment property.
Closing Canceled at Last Moment
A young couple was on the way to owning their first condo. On the morning of the closing, the lender calls to say they will not be able to make the loan because the building is a condominium conversion. Ilyce and Sam give the reader advice on how to recover their many expenses and how to avoid this homebuyer nightmare.
Home Sellers Can’t Pay Commission
A home seller fires their real estate agent because they discover they will not be able to cover their closing cost and commissions. Commissions are typically paid out of the closing proceeds from the sale of the property. A buyer or seller probably can't get a loan to cover closings costs and commissions when selling and buying a home.
Buying A Property In Foreclosure
A home buyer is determined to purchase a specific home that is in probate and foreclosure. With all of the real estate on the market, this home buyer shouldn't be so stuck on buying a foreclosure home with so many problems. However, the lender might be able to work with the home buyer and homeowner to allow for a short sale and release the balance of the debt that is owed.