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Archive for November, 2008

Can A Landlord Enter Without Notice When Selling?

Can A Landlord Enter Without Notice When Selling?

Question: I\’m a renter who has no contract with the landlord. I pay rent month-to-month. The owners’ recently put the home up for sale, and the real state broker put a lockbox on my door. Do they have the right to come in while we are gone or do they have to wait until we […]

Posted in: Rent
Can We Get Back Our Deposit?

Can We Get Back Our Deposit?

Question: We purchased a parcel of land on Friday. Two days later we decided to cancel the transaction. (buyers’ remorse). Can we get our deposit back? Answer: Maybe. You need to ask several questions. For instance: First, what does the agreement say? Does it have a rescission or cancellation period during which time you can […]

Posted in: Contracts
What If I Don’t Sign The Mortgage Lender’s Form?

What If I Don’t Sign The Mortgage Lender’s Form?

Question: When applying for a mortgage we were asked to sign a form which would allow the lender to check past tax returns. This doesn’t seem right. What happens if we don’t sign? Answer: Most probably you have been asked to sign IRS Form 4506. This form authorizes the IRS to provide tax returns for […]

Posted in: Closing
Should I Co-Sign A Cousin’s Mortgage?

Should I Co-Sign A Cousin’s Mortgage?

Question: I have been asked to co-sign a mortgage. I am not thrilled by this request, but because a cousin is buying I have a sense of obligation to help. If I co-sign, what percentage of the loan must I re-pay if the buyers default? Answer: Co-signing a loan is a serious matter. In essence, […]

Posted in: Mortgages
What If We Find Termite Damage?

What If We Find Termite Damage?

Question: What happens if a termite report shows termites or termite damage? Answer: You need to look at the specific terms of the sale agreement. If there’s an active pest infestation, many standard agreements require treatment by a licensed pest controller. Because poisons are involved this is not a do-it-yourself job for sellers. A professional […]

Posted in: Buyers
How Can We Delay Closing?

How Can We Delay Closing?

Question: We\’ve sold our home and are soon going to closing. However, because we have been unable to find a suitable replacement property we want to delay settlement while the buyers want to close on schedule. How can we delay closing? Answer: Imagine if closing is delayed by a month. Imagine also that the purchasers […]

Posted in: Closing
Are Florida Condos The Right Investment?

Are Florida Condos The Right Investment?

Question: I\’m a retired teacher and interested in buying a place in central Florida to escape Ohio winters. If I buy one what do you think the chances are that they will be selling for more money a few years down the road? Real estate brokers tell of people coming and buying half a dozen […]

Posted in: Investing
Must My Landlord Repair A Hot Water Heater?

Must My Landlord Repair A Hot Water Heater?

Question: I have been renting a house that prior to my move in had major water damage to the basement and ruined the water heater. It has been fixed to the point where it will work, but causes a horrible smell throughout the house if left on. Therefore I only turn it on an hour […]

Posted in: Rent