Monthly Archives: June 2007
Acquiring Property By Adverse Possession
A homeowner has been caring for the empty property next to his own for eight years. He is wondering if he has a claim to the property. It’s possible to acquire property through adverse possession, but it requires a lot more than mowing the lawn and clearing snow.
Ilyce Glink on WSB Radio – June 24, 2007
Join Ilyce Glink as she discusses real estate, personal finance and consumer issues with her listeners.
Broker Gets Commission At Closing
Real estate agents are often active real estate investors because they’re in a position to see a great piece of property almost before anyone else. Agents will get their share of the commission at the closing, which is akin to a slight discount for the agent.
Elderly Parent Uncomfortable With Changes To His Home
An elderly parent had his daughter’s family move into his large home when he was ill. Now the daughter is making a lot of changes and he feels uncomfortable in his own home. The homeowner should begin charging rent and look over his will, powers of attorney and other estate matters.
Sellers Cite Down Payment Gift To Cancel Home Sale
When you’re buying a home you have to come up with a down payment. Is it risky to use gift money as a down payment? In some cases, sellers may be wary of selling their home to someone whose down payment comes in the form of a gift. What recourse do the buyers have to close this sale?
Broker Fee Latest Trend In Real Estate
The latest trend in real estate seems to be buyer’s brokers asking a broker fee on top of the commission. Buyers shouldn’t agree to pay an extra fee on top of the commissions the broker is receiving. Some real estate agents acknowledge that if they receive a split of a 6 percent commission, they are more willing to take care of the fee themselves.
Property Transfer: How To Avoid Tax Penalties
A home owner has just found out that she doesn’t really own the property, but her father-in-law’s name is on the title. He bought the property under a 1031 exchange and might face stiff tax penalties if he transfers the title to his son and wife. To defer taxes with a 1031 exchange, the owner must replace that property with a replacement investment property within a certain time period, usually 180 days from the sale of the original property.
Homeowners Insurance: Government Information To Protect Your Home From Floods
The federal government has lots of information for homeowners looking for flood insurance. The federal government’s website dealing with homeowners and flood insurance is floodsmart.gov. Check out floodsmart.gov for the federal government’s information on how homeowners can apply for flood insurance.
Ilyce Glink on WSB Radio – June 17, 2007
This week on the Ilyce Glink Show: Father’s Day is something to be celebrated. Ilyce talked about lessons her Dad gave her throughout her life. There was a lot of news in the real estate world this week: A new study from the Federal Trade Commission showed that half of all borrowers surveyed didn’t know how much they owed on their mortgage. Tune in for the update on foreclosure statistics, Ilyce’s investment property deal as well as answers to your questions.
Buyer’s Responsibilty To Change Utilities After Closing
When you buy a home you are responsible for having the utilities turned on in your name. Assuming the utilities will roll over or stay turned on can lead to damages if they get turned off in between occupants.
