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Investment Property Inheritance And Home Improvement

By | July 9th, 2007|

How do you divide the expenses related to home improvement and repair of an investment property inheritance? An inheritance becomes more complex when the deceased person did not maintain her share of the investment property. How can the other investment property owner be fairly reimbursed prior to sale? It's up to the investment property co-owners to work it out and if they can't they may need to involve attorneys.

Understanding Adverse Possession

By | July 6th, 2007|

Adverse possession means you acquire property by openly using a home, claiming it as your own and paying all of the expenses, including the taxes, for a certain period of time. The time you must occupy the property ranges from 7 to 21 years, depending on the state.

New Orleans, Two Years Later: Part II

By | July 5th, 2007|

Ilyce takes a tour through the Broadmoor neighborhood of New Orleans to see how the rebuilding effort is moving forward. Nearly two years ago, after Katrina hit and the levees broke, this neighborhood of pastel-colored homes was submerged below 10 feet of water. Today, many of the homes are in the process of being fixed up. However, even with millions of dollars of federal money, grants, and the work of non-profit groups, life is far from normal.

Renting Versus Buying A Home

By | July 4th, 2007|

If you're an apartment renter you may be wondering if now is the time to buy a home or condominium. Before you decide, you'll need to analyze the pros and cons of buying a home or condo and whether taking on a mortgage in the current real estate market is the right choice. You should look closely at the costs associated with renting and those of owning a home. You could decide renting is the better choice.

Buying Property As-Is Incudes All Easements

By | July 3rd, 2007|

A home buyer bought property and land that was for sale "as is" and didn't learn of any easements at the time of closing. Now the buyers have learned they share a water pump and well with a neighbor but didn't hear of this easement before buying the property. The buyers want to know if they have any recourse against the agent and title company for not disclosing these easements.

Easement Means Negotiating Neighbor’s Use

By | July 1st, 2007|

When you have an easement you have access to a neighbor's property. But your neighbor still owns that portion of his property, despite the easement. Easements don't guarantee full rights or access to a property - it still may be a matter of negotiating with neighbors.

How To Buy A Home When You Have A Poor Credit Rating

By | June 29th, 2007|

A prospective home buyer wants to purchase a home but has a poor credit score. The good news is that time will heal all credit history wounds. You can start cleaning up your credit by getting a copy of your credit history and score from each credit reporting bureau.

Connecting Borrowers With Private Lenders

By | June 27th, 2007|

Investment property owners who have tapped out traditional banks and mortgage lenders may be able to turn to alternate lenders. Prosper.com is a site that connects borrowers with private lenders. You post a "loan listing" which includes some of your personal financial information (you decide how much personal information to reveal) and what you're trying to do online and various lenders will bid for the right to do business with you. You can borrow up to $25,000.

Condominium Contract: Lose Money In Escrow If Contract Is Broken?

By | June 25th, 2007|

Will you lose money in an escrow account, if you try to get out of a contract to purchase a preconstruction condominium? What will happen to the money held in escrow for the contract on the preconstruction condo. Ilyce and Sam explain what the possibilities are for getting the money in escrow back from the preconstruction condo contract.

Acquiring Property By Adverse Possession

By | June 24th, 2007|

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.

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