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1031 Doesn’t Work Overseas

By | August 28th, 2006|

A 1031 exchange allows you to defer taxes when selling a home by purchasing another one within a certain time period. Unfortunately, 1031 exchange laws do not allow for purchases outside the U.S. Current 1031 exchange rules require you to have designated a replacement property within 45 days of closing on your original property and then to close on the new property within 180 days.

No Lawyer Needed For Refinance

By | August 27th, 2006|

A loan officer told a home buyer that he does not need to use a lawyer when refinancing a mortgage. Using a lawyer is not mandatory, but if you do not understand the documents you're signing, you'd be wise to show them to a real estate attorney who can walk you through the various disclosures lenders are required to make, and the jargon they use to make them.

If You’re A Seller, You’ve Got To Be Nervous

By | August 25th, 2006|

Selling your home? Expect it to take a while in this market. Buying a home? There are all kinds of new incentives out there to bring you to new properties on the market.

Real Estate Minute: Attract Buyers Any Way You Can

By | August 24th, 2006|

Real Estate Minute with Ilyce Glink Attract Buyers Any Way You Can Original Air Date: August 24, 2006

Real Estate Minute: Looking To Get Rid Of A Timeshare?

By | August 23rd, 2006|

Real Estate Minute with Ilyce Glink Looking To Get Rid Of A Timeshare? Original Air Date: August 23, 2006

Selling Part Ownership In Home

By | August 23rd, 2006|

A homeowner bought a home with two family members and would like to sell her share of the home. The homeowner should not agree to give up her part ownership in the property without being paid first by the other family members. Because she is part owner, she deserves her fair share in the home and it's appreciated value.

Knowing How To Negotiate Can Help Get You A Better Price

By | August 21st, 2006|

It isn't so easy to sell your home in this changing market. To attract buyers in either a balanced or buyer's market, sellers need to whip their home into top condition, price it right, and perhaps even throw in a few goodies to get buyer's agents interested in showing the property. Taking the right steps will help you get the right offers, even in a buyer's market.

Gift Property May Cost Recipient In Taxes

By | August 20th, 2006|

Giving the gift of property may cost the recipient a lot of cash in taxes. There are other options for a person than giving away the property, so as not to cost the recipient much money in gift taxes. The person could give a portion of the property or the person can purchase the land and the giver can return the cost of the land to you each year. The best way to make sure the recipient of a gift of property is to sit down with an estate attorney and go over all your options.

Did Seller Know About Leaky Roof?

By | August 19th, 2006|

A home buyer moved into a new home only to find that the roof leaks. The seller had disclosed the leak, but then amended the disclosure form to say that there was no leak. A professional home inspector is key to ensuring all problems are disclosed.

Poor Seller Disclosure May Result In Breach Of Contract

By | August 17th, 2006|

What happens if you buy a home and the contract states one thing but the house does not match that requirement? Under seller disclosure is the seller liable for fixing the discrepancy? In this case, a home buyer believes that his new home lacks insulation which was described in the contract. Before suing the seller, a developer, the home buyer should make sure that his suspicions of lack of insulation are correct by hiring a contractor.

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