Selling a House Archives

Selling Your Home: Get A Good Real Estate Agent, Home Inspector And Attorney

By Ilyce Glink| 2004-07-02T00:00:00-05:00 July 2nd, 2004|

In this column Ilyce gives advice to home owners who are planning to sell - get a good real estate agent, home inspector and attorney. People who are selling their homes need a good real estate agent, home inspector and attorney in order to get the best results from selling their homes. Find a real estate agent, home inspector and attorney whom you can trust and whom you can get along with - since you'll be spending a lot of time with them.

Tax Implications For Elderly Selling Property

By Ilyce Glink| 2004-07-02T00:00:00-05:00 July 2nd, 2004|

You may have to sell some assets to pay for assisted living for an elderly family member. If the asset being sold is a home, what taxes will have to be paid and at what rate? It depends on who owns the home and how the property is sold. Learn about the factors you should take into account for financial planning for elder care.

Many Options Available For Mortgage Loans

By Ilyce Glink| 2004-06-25T00:00:00-05:00 June 25th, 2004|

Do terms like adjustable rate mortgage, 30-year interest rate, and other mortgage loan terminology make your head spin? You are not alone. Know what your options are when shopping for a mortgage so you find the loan that best suits your needs.

Gift Tax Or Capital Gains: Know Tax Rules When Selling A Home

By Ilyce Glink| 2004-06-18T00:00:00-05:00 June 18th, 2004|

A new condo owner is confused about whether she owes gift taxes or capital gains on the sale of her mother's home. Ilyce explains the rollover replacement rule and gift taxes versus capital gains. Always get a real estate attorney and tax adviser when selling a home when taxes like the gift tax or capital gains are involved.

Seller Disclosure Includes Structural Problems

By GlinkAndTamkin| 2004-05-21T00:00:00-05:00 May 21st, 2004|

When you're selling a condominium or another home, it's best to be totally honest in your seller disclosure. Seller disclosure includes structural problems, including any studies related to them. In determining whether to disclose a problem, you should think about whether the issue has been corrected. If it has been taken care of, usually there's no obligation to include it in seller disclosure. If the problem is a recurring problem even after many attempts to correct the problem, then seller disclosure may be required.

For Sale By Owner: Buyer Should Hire Real Estate Attorney For Contracts

By Ilyce Glink| 2017-08-17T10:48:05-05:00 May 14th, 2004|

Prospective homeowners looking to buy a home "for sale by owner" should hire a real estate attorney to protect against any issues when buying the home. The seller who puts a home up for sale by owner is looking to get the maximum profit, so hiring a real estate attorney will help the buyer with negotiations. A real estate attorney will help the buyer draw up the contracts should the buyer decide to purchase a home for sale by owner.

Can Home Buyer Sue Seller Over Bad Smell?

By GlinkAndTamkin| 2004-05-07T00:00:00-05:00 May 7th, 2004|

A new home owner notices a bad smell and wants to sue the seller for not disclosing it. The homeowner's ability to sue the seller for his or her failure to disclose a material problem with the home will generally depend on various factors: the state's seller disclosure laws, what the seller knew, and what the contract for purchase of the home stated. Seller disclosure laws generally require sellers to disclose material issues relating to the home.

Seller Financing Offered to Rental Tenants

By GlinkAndTamkin| 2017-09-06T16:27:50-05:00 April 9th, 2004|

An investment property owner wants to sell their property to the tenants and offer seller financing. The seller financing will work like an installment purchase, or "lay-away" plan. The installment contract with the seller will include certain provisions that will pay "interest" on the amount owed by the buyers along with payments for all of the costs associated with the ownership of the home. When the time comes to transfer title to the home to the buyer, they will pay off whatever remains on the installment contract. The seller will use part of the cash they pay to payoff the current mortgage.

Determining The Selling Price Of A Home

By GlinkAndTamkin| 2004-02-27T00:00:00-06:00 February 27th, 2004|

How can you find the selling price for a home? In most cases, when a property is listed for sale through a real estate broker or salesperson, the sales information is entered into the multiple listing service (MLS) for future use. The sales price may also be found on the Internet or the county recorder of deeds.

Seller Disclosure: Damage After Home Inspection And Closing

By GlinkAndTamkin| 2004-01-09T00:00:00-06:00 January 9th, 2004|

What is the seller's responsibility as far as seller disclosure once the home inspection and closing are over? Does seller disclosure still apply, if hail damages the home after the buyer has the home inspection and closing. Months after the home inspection and closing the buyer is still trying to get the seller to file an insurance claim.

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