Can you sell a house if you are on the title but not the mortgage? Two names were on the title, but only one was on the mortgage when one spouse died. Q: My stepfather bought a house in Miami in 1999 and he included my mom on the title of the property at that [...]
Why are pocket listings banned? Explaining the reasoning behind the National Association of Realtors (NAR) banning pocket listings. Q: You recently answered a question about a home seller paying the commission to an agent for a "pocket listing." You bypass the larger issue and the reason that so-called pocket listings are against the National Association [...]
Do I have to pay tax on property sold overseas? This reader wants to use funds from the property sale to invest in real estate in California. Q: I own a piece of real estate overseas and I’ve owned it for quite some time, even before I became a U.S. citizen. I would like to [...]
Do I have to pay a buyer’s agent commission? This home seller doesn’t feel like the buyer’s real estate agent has done anything to deserve commission. Q: I am a seller who has an agent that claims he has a buyer for my property. He wants to do a pocket listing. I am absolutely outraged [...]
How does a short sale work for a buyer? This reader wants to know if they need an attorney to bid on or buy a real estate in a short sale. Q: Do I need an attorney to bid on or purchase a short sale real estate condominium? A: In some parts of the country, [...]
What to do about a water meter reading error. This reader received a huge water bill after closing on their home but the math and timing of it just don’t add up. Q: We sold our house in Ohio in March and moved to the west coast. We informed our water department that we needed [...]
Real estate closings and remote online notarization in 2020. How real estate professionals are finalizing closings during the COVID-19 pandemic. As a follow up to a recent story on online notaries and remote online notarization, we received several letters and have some more information for our readers. Comment: I understand the need for online notaries. [...]
How can I promote my condo? This reader’s condo was listed for 15 months and they’re worried potential buyers weren’t aware of building improvements. Q: Most Realtors representing condo buyers don’t educate their buyers about condo reserve funding: The pros and cons of fully, partially or non-funding of reserves. My beachfront condo in Florida was [...]
What is the difference between a trust and a life estate? And is it easier to sell a home that's held in a trust or in a life estate? Q: Not really a question as much as a comment. As a Realtor for 34 years I’m not a fan of trusts, so I’m disappointed in your [...]
How do I avoid capital gains tax on the sale of a second home? This reader sold their second home and wants to know how to reduce capital gains tax. Q: I sold my second home last year. I had owned that home for many years. I bought a new one at a higher price. [...]
