Monthly Archives: October 2007
Real Estate Agent Can Collect Real Estate Commission If Inactive?
Is a real estate agent with an inactive license able to collect on a real estate commission? The real estate agent’s boss agreed to pay her the commission and then backed out of the deal. Ilyce and Sam explain to the real estate agent whether she can collect a real estate commission even though she was inactive.
Life Estate Deed Contradicts Will
A mother’s will outlined that her personal property would be divided equally between her two sons. One son later says he has a life estate deed that says he is the sole heir to the property. Finding out if the life estate deed is valid will determine if it trumps what was outlined in the mother’s will?
Seller May Cancel Sale Due to FHA Mortgage Requirement
When you buy a home with an FHA loan you have to follow their rules, including one where you can’t close on a home if it was just sold 90 days earlier. If a seller is eager to sell he may not want to wait that long. Can the seller keep the buyer’s deposit if the closing gets delayed or canceled?
Income Tax On Inherited Property
Selling inherited property will have its tax implications. To determine what taxes you would pay on selling inherited property, you’ll have to get an estimate for the value of the property when it was inherited. You may also own capital gains taxes and state income taxes for the inherited property.
Real Estate Sales Down, Economy Next?
Real estate sales are down- does that mean the economy is next? Will the decline in real estate sales and home values push us into a recession? Ilyce evaluates the state of the economy in light of the down real estate market.
Money Merge Accounts Not A Wise Idea
If you want to spend $3,500, you’ll learn how you can merge your money into one account: a money merge account (MMA). Money merge accounts claim to help you pay down your mortgage faster. But there are ways to do that without buying into a money merge account.
106 Mortgage Secrets All Borrowers Must Learn – But Lenders Don’t Tell
Each year, more than ten million American homebuyers, homeowners, and realty investors enter the mortgage arena to finance or refinance their homes an…
New Home Sales Fall from 2006, Mortgage Rates Fall Too
Sales of new homes in the U.S. jumped 4.8 percent from August but fell more than 23 percent from September 2006, the federal government reported today…
Rent-To-Own Agreements Not For Everyone
First-time buyers who can’t quite afford to own a home often look for rent-to-own properties, also known as lease/options. You just want to make sure you’re not getting scammed if you opt in to a rent-to-own agreement. There are also owners that take advantage of their tenants in a rent-to-own agreement.
Partial Ownership In Property Not Documented
A brother helps his family buy a home in exchange for 10 percent of the property. He never received paperwork at the time of closing documenting his stake in the property. His name was never added to the deed and now he’s not sure how to proceed.
