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Real Estate

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Cannot Pay Back a Loan – Is It My Fault?

By | August 20th, 2004|

A lender gives you money based on your ability to repay the mortgage. If you lose your job or even if someone lied on the appraisal or application doesn't excuse the fact that you borrowed the money and spent it. Now the lender who owns the rights to your mortgage has the right to be paid back, no matter how many "pennies on the dollar" he paid for the servicing rights to the loan. Who is to blame when a loan doesn't get paid?

Building A Home On Purchased Land

By | August 20th, 2004|

Building your own home is something you can always look back on as a major life accomplishment. However, before you build your house, it's good to understand the legal issues associated with building a home. You can build a home on land that you won and you don't need additional documentation to verify your ownership of the home.

How To Buy The Right House for You

By | August 20th, 2004|

House-hunting is difficult if you focus in on the wrong things when buying a house. Top agents will often recommend home buyers create a wish list of everything they want in a property, and then a list of items you can't live without. When you schedule a first showing, pull out your "must haves" list. You're looking to buy a home that meets your basic needs.

Suing Seller May Be Only Recouse

By | August 20th, 2004|

Suing the seller may be the only option for a home buyer that feels they were misled prior to purchase. If a developer made claims about the property that have turned out to be true, the buyer may have cause for misrepresentation. However, since the contract states the deposit was non-refundable, the buyers will have to sue. The dispute is between the buyer and the seller, and the credit card company can not get your money back for you.

Role of Real Estate Attorneys

By | August 13th, 2004|

Buyers should strongly consider using a qualified, experienced real estate attorney whenever buying property. It may be single largest transaction of your life. Why take the risk that something might go wrong? While you may not need the attorney in most cases, you never know when a deal is going to go bad.

Real Estate Agent, Attorney Can Help Buy Property

By | August 13th, 2004|

While you can look at real estate without a real estate agent, it's usually helpful to have one. You can work with either a buyer's agent or a seller's agent. And when you're ready to finalize your real estate purchase you should hire a real estate attorney as well. Learn about the benefits of hiring real estate professionals.

Use 1031 Exchange To Defer Capital Gains Tax

By | August 13th, 2004|

When you sell your current investment property and purchase another property that costs at least as much, you can defer all capital gains tax if you use a 1031 exchange. A 1031 exchange offers tax-free real estate transactions, but there are some important rules to keep in mind.

Real Estate Scam: Condo Owner Scammed By Real Estate Company

By | August 13th, 2004|

The owner of a condominium believes she was scammed by a real estate company who bought her condo to get her out of foreclosure. In the scam, the condo owner never got most of the money she was supposed to get from the real estate company for the condo purchase. Ilyce recommends the condo owner get in touch with an attorney immediately to help her retrieve her money from the real estate company that scammed her.

Avoid Scams When Buying Property

By | August 13th, 2004|

Watch out for this real estate scam. The scam artist sells somebody else's property, collects the money, and then skips town. Here are some tips on how to avoid getting scammed when you buy property.

Trespassing And Property Rights

By | August 6th, 2004|

A neighboring apartment building is taking advantage of one owner's yard and caused some damage. The homeowner has to check if he gave consent or if there is an easement on his property. But whether or not the neighbors have an easement to use theland, they should pay to repair any damage done.

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