Broker problem is created when renting a condominium without a listing agreement or other written document that controls the relationship between the owner and the agent. Q: I am trying to rent my condo. I posted a listing on Craigslist. …
A Lease Purchase or Rent to Own deal might be ideal for someone who is recovering from a foreclosure. After a foreclosure, you won’t be able to get a loan. If you can find a seller who is willing to give you financing, a lease purchase deal could be a great option for a buyer trying to recover from a foreclosure.
FBI Releases 2009 Mortgage Fraud Report
The FBI has released a report describing the mortgage fraud crimes of the 2009 fiscal year. The report has notes an increase in mortgage fraud activity and names the regions and states with the most activity. In addition, the report lists the types of crimes included under mortgage fraud and its associated tactics, describing most of them as for-profit endeavors by individuals exploiting the weak real estate market. Also, the report names the types of individuals acting as perpetrators in mortgage fraud as well as the direct and indirect victims of the crimes. Financially, the report describes the FBI’s reactions to the mortgage fraud activity and its outlook on the future of the situation.
Once you sign a lease for an apartment or house rental, you are responsible for fulfilling the terms of your lease. If you want to leave before the lease ends, you will usually have to pay some form of penalty. You are also responsible for any damages, according to the terms of your lease. If you have roommates, you will still be responsible for their damages to the apartment. Make sure you understand the terms of your lease because breaking the lease without penalty may be impossible.
Where can you find information about a lease purchase option when selling a home? What’s a good term for a lease option? How does a lease option work? Here are the answers to questions about lease options as a way to sell your home.
When you enter into a lease, you are entering into a contract for the specified term in the document. If the tenant fails to pay rent for the time indicated in the lease, he or she will is still responsible for the rent for the months that the apartment was vacant during that time period. In most cases, a landlord can apply the security deposit towards the lost rent caused by a tenant’s early termination of the lease.
A couple who owns rental property asks for advice on what to do about renters who signed a new contract and then moved out leaving significant damage. The couple could hire an attorney or sue them in small claims court for the rent and damages sustained to the rental property. They could also put a lien on the home the former tenants plan to buy, using a real estate attorney to help them do so.
Deciding whether to lease our own land depends on whether the property is going to be a primary residence or vacation property. A reader wants to “purchase” land that Georgia Power owns, but it’s a 99-year lease, instead of actually owning it. Ilyce explains that a 99-year land lease means that after 99-years, the land and the home on it would go back to Georgia Power, which is why as a primary residence it would be fine, but as vacation property, you’d want to own it, in case you want to keep it in the family.
If you’re trying to sell your home in a tough housing market you might consider offering a lease purchase. In a lease purchase the seller rents the property to a tenant who may later buy it. The tenant puts down a non-refundable option fee which goes toward the purchase of the home. Learn about how lease purchases work and if it’s the right choice for you.
A lien waiver is a legal form that builders and suppliers fill out indicating that they have been paid in full from a job and that they waive any right against the property they worked on or delivered materials to. If building a home, you should make sure you get the lien waiver from the supplier before you pay him or her, or in exchange for the check, so you have some protection.