Water erosion can turn into water damage. Before you buy a home you should check for water damage and the potential for water damage caused by water eroding away land. Sometimes when a home has water damage it may need other repairs. Is there a way that the home could be sold despite the risk of water damage?
Does having a pool in a townhouse community raises the value of each townhouse. This depends on whether other local townhouse communities have pools. A pool will cost townhouse residents more in fees and upkeep, but if it's the only pool in the area it can help increase your townhouse's value.
When you buy a home the seller is supposed to tell you certain things under seller disclosure - items that may not be visible to the naked eye. Does this include a home's proclivity to water damage? Whether seller disclosure requires a seller to discuss water damage depends on the state where the home is located. Each state has different seller disclosure laws.
If a property is transferred on death the tax basis is the value of the property on the day of the transfer. If the new owner sells the property right away she will pay no tax. If the estate is larger than the current amount one can pass down tax-free, the estate would pay any taxes owed, not you.
A buyer asks about a condominium sale. She purchased the condominium because the living room had a partition in it. Before the condominium sale is finalized, the condo board wants the seller to remove the partition. The buyer no longer wants to go through with the condominium sale. The changes to the unit may have violated zoning laws or homeowners association regulations. What are her rights?
A home owner asks about who should pay for repairing his home's foundation. He discovers his home needs foundation repair five years after buying it. Whether to sue the seller depends on the cost of the foundation repair and the extent of the foundation's damage.
A parent asks about how to sell your own home. He has a home he wants to sell to his son at a very low cost and he wants to know his options. Knowing your goals will help you know how to sell your own home. Different tax implications and laws apply depending on how you sell your own home.
A seller says he's selling his house for sale by owner. He wonders about contract risks when selling houses for sale by owner. The seller says the buyer offered to buy the home without putting money down and without seeing the home first. Sellers should have a real estate attorney help with contracts when selling houses for sale by owner.
When you're a first time home buyer one of the choices you need to make is what kind of real estate agent you want to work with. If a real estate agent represents both the buyers and the sellers that person is called a dual agent. In addition, the sellers are obligated to tell you about any unusual about the home as part of seller disclosure. If they omit something, such as a septic system that's off the property, you may have to contact a real estate attorney.
