Quit Claim Deed May Determine Inheritance
How does the recording of a quit claim deed affect an inheritance? An Ohio family may own a West Virginia property received by an unrecorded quit claim deed. If the quit claim deed is valid, title of the inherited property may have transferred when the deed was delivered. If the quit claim deed is…
Real Estate Market: Improvement Through Employment, Refinancing, And Avoiding Foreclosure
What steps can we take with the economy to improve the real estate market? Keeping people employed, changing refinancing rules and encouraging people to stay in their homes and avoid foreclosure are some possibilities to improve the real estate market. If you have suggestions for how to improve the…
Tax Deductions: Who Should Own Primary Residence
Does it make sense to have the title to a primary residence held by a limited liability company (LLC)? If your LLC owns a primary residence you may lose various tax deductions. It may also be more difficult to obtain favorable mortgage financing because a property owned by an LLC may be considered…
Home Value Depends On Location, Acreage
A prospective home buyer is wondering if an older for-sale home with plumbing problems is a good deal. The value of the home depends heavily on the location. The best way to know a home's value is to look at what comparable home in the area have sold for in the last three months.
Real Estate Taxes: Can You Deduct Them From Inherited Property
The U.S. Internal Revenue Service allows tax payers to deduct some real estate taxes when they file. Can an owner of multiple properties deduct the property taxes from a recently inherited property? A Think Glink reader asks about deducting the property taxes from a property he inherited with his…
1031 Exchange: Deadlines, Type Of Property Impact Eligibility
A 1031 exchange allows you to buy and sell investment property within a specified time period and defer paying taxes to the IRS. Primary residences, second homes and vacation homes are generally not eligible for 1031 exchanges. Real estate market conditions may make it harder to sell a property and…
1031 Exchange: Real Estate Market Conditions Affect Deadlines
A 1031 exchange allows you to buy and sell investment property including real estate and defer paying taxes to the IRS. Real estate market conditions may make it harder to sell the old property and potentially prevent a successful 1031 exchange. Learn how real estate market conditions can affect a…
Hire Real Estate Attorney To Help Buy Property
A property buyer can't be present at the closing of his purchase, and wants to know if an attorney should be there in his place. Having an attorney at the closing will ensure the buyer's interests are represented, legal documents are drawn and that the money flows properly at the closing. An…
Quit Claim Deed Affects Cost Basis
How do you calculate cost basis on a home you receive through a quit claim deed? The type of home ownership is also a factor - for example joint tenancy. Learn how to do the calculation for cost basis and learn the rationale used to determine cost basis when families transfer home ownership using a…
Can I Lower My Real Estate Taxes?
Is your real estate tax bill too high? If your property has declined in value, you may be able to lower your real estate tax bill. This Expert Real Estate Tips video shows you how.
Tenancy In Common And Property Ownership
A father changed the ownership of his property from joint tenants with right of survivorship to tenancy in common. The father later signed a quit claim deed giving his interest in the property to his daughter. What does tenancy in common mean for property ownership? Is the property ownership divided…
Buying Real Estate During Economic Crisis
Buying real estate during the economic crisis has become more difficult. The current economic crisis has brought many challenges, including the drop in retirement savings and a rise in the unemployment rate that affect the real estate market and home buyers. There is a strong connection between…
Owner Occupied Status Affects Mortgage Refinancing
A renter asks about an owner-occupied requirement with regard to mortgage refinancing. The renter says his landlord has refinanced the property twice, each time claiming he lives there. The renter wonders if the landlord breaks the law by claiming the property is owner-occupied during a mortgage…
Daughter Assumes Mortgage Payments
Can a daughter's name be added to the deed of her home since the daughter has started to make mortgage payments for her parents? While it may seem like a good short-term solution, there are many implications to the daughter assuming the mortgage. How can they protect both the parents and the…
Real Estate Market Conditions In 2008
What's the real estate market like at the moment? Agents from Southern California describe the real estate market. Because the 2008 real estate market is flooded with inventory, it's a buyer's market. Current real estate market conditions make financing a challenge. View this segment to learn more…
Real Estate Research Can Save You Money
How can you protect yourself from costly mistakes when buying and selling a home? How can you save money when you're looking at real estate? Educate yourself on the process, do research on your property and find a good agent to represent you. Real estate research in all areas of the real estate…
Partnership Agreement Prevents Home Sale Woes
How do you split up the investment in a condo after it's sold? Two friends contributed to the condo's down payment but only one of their names is on the mortgage. How much of the proceeds are each of them entitled to after the sale? Can the friend who's not responsible for the mortgage claim a…
Housing Market Affects Steps To Sell Home
A home seller worries about her real estate agent changing her approach to selling a home. The real estate agent first said the home "shows well" and is now asking her to declutter her house. The housing market likely changes the approach the real estate agent takes. A good agent may change tactics…
Home Buyer Protection In Short Sale
Is a home buyer protected if the home he bought in a short sale sustains fire damage prior to the closing? Ilyce helps a reader sort out what kind of protection the home buyer has in a short sale - when the home owner's insurer has the home owner make the repairs himself. The home buyer's best…
What to Ask a 1031 Exchange Company
When you want to do a 1031 tax exchange you have to find a qualified intermediary, an impartial third party who will hold your funds. But how can you find a trustworthy 1031 exchange company? Ask them how long they've been in business, what insurance they have, what experience the staff has, where…
Property Inheritance Saves More Taxes Than Quit Claim Deed
Learn about property estate planning including repair and maintenance duties. Is using a quit claim deed or an irrevocable trust a better option? Inheriting property saves more on taxes than signing a quit claim deed.
Seller Offering Home To Buyer Affects Commission
Most of the time, when you're selling your home, the buyer will come to you with an offer. In some cases, the seller proposes an offer to the buyer. Why would a seller offer his home to a buyer? How does a seller offering a home to a buyer affect a real estate agent's commission?
Quit Claim Deed Transfers Real Estate Back Taxes?
A father transferred his home to his children using a quit claim deed, but he stopped paying the taxes. Now his children have been notified they're behind on real estate taxes and could lose the property. One child wants to sign a quit claim deed to transfer ownership back to the father. If they do…
Lien Stalls Real Estate Contract
A husband says his wife has a pending sales contract her home and her ex-husband's divorce attorney has placed a lien on the home for attorney's fees. The husband wants to know how to deal with the lien, which is a claim to the property. The best be would be talking to the couple's real estate…
Does Seller Disclosure Include Rotten Neighbors?
When you buy a home, what does the seller have to tell you as part of seller disclosure? Does seller disclosure include rotten neighbors who are noisy and disruptive? Does a buyer in such a situation have recourse? You should contact a real estate attorney to understand seller disclosure laws for…
