Purchased Home Has Poor Kitchen Renovation
A couple buys a home with a poor kitchen renovation. They want to know if they can hold the seller accountable for the kitchen renovation. They regret buying their home with the bad kitchen renovation.
Estate Planning Includes Assets Transfer and Medicare
As parents age they may want to transfer the title of a property to their offspring. How does a property transfer affect Medicare benefits? There may be a better way to achieve the goals aside from a property transfer.
1031 Exchange and Real Estate Taxes
Siblings inherit apartment buildings and ask about a 1031 exchange. They want to do a 1031 exchange to keep the same property tax bill. To do a 1031 exchange, you have to replace property with the same value or more.
Home Inspector Misses Problems In New Home
A home inspector may have missed problems in this buyer's new home. While there are some great home inspectors, some are better than others. Because some home inspectors limit their exposure to problems in the home to the amount you pay for the home inspection, it's crucial to find the best home inspector in your area.
Selling A Home After Quit Claim Deed
When you receive a home via a quit claim deed you can sell that home as you would any other home. Note that you'll sell the home at the same cost basis that the original owner bought the home for. Learn how quit claim deeds work compared with warranty deeds.
Refinancing To A Negatively Amortizing Loan
When you refinance your mortgage loan, as when you get a new mortgage loan, you need to carefully read the loan documents. If you don't you could end up with a negatively amortizing loan, which means that your principal will increase as you make mortgage payments. It's critical to understand the terms of your new loan when you're refinancing.
What To Expect From the IRS With A Property Lien
A husband quit claimed property to his wife 17 years ago and she is now wondering if the IRS can put a lien on the home for his unpaid income taxes. The IRS can probably put a lien on the home but cannot go after it. The quit claim should protect the home from a lien from the IRS.
Lender Leaves Mortgage With Title Company
A mortgage lender backs out of a deal leaving the title company to pay off the seller. The title company closed the transaction after the lender failed to properly fund the closing. Now instead of paying a lender, the title company expects payments.
Lawsuit Over Land In Trust
When government determines property ownership, it may miss land that's not listed on tax rolls. When that happens, the property's ownership may remain unclear. In this case, land owned by an estate was left out of a trust. The estate's trustee now wants to put the land back in the trust. How can the land be returned to the estate?
Short Sale Real Estate Investor’s Only Option
A real estate short sale may be the only option for this new real estate investor. Many new real estate investors did not anticipate the down turn in the market and now owe more on a property than it is worth and are being forced to negotiate a short sale. If the mortgage lender accepts the short sale, the real estate investor may still be required to pay out of pocket for other expenses.