All Posts Tagged With: "estate"
Why Do Courts Review Estate Sales?
In many states, property sales made by an estate are subject to court review. The reason is that real property is typically a major asset within an estate, and if such a major asset is sold for less than full market value the interests of the heirs will be injured (and, of course, perhaps the [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
What Makes “Estate Sales” Unique?
An “estate” sale occurs when someone dies and their property is offered for sale by the heirs, a party In some cases, the rules for estate sales may vary from those of other residential transactions. For instance, in some states the need for a disclosure statement may be waived. Title may be given in the [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
Can we sell half a house which is used for a life estate?
You can sell your share. Who would buy it? The most likely purchasers will be the owners of the other half of the property. However, they already have use of the house for the rest of their lives. An outsider would likely not want a 50 percent interest — a miserable number because it does [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
Can I Get A Mortgage For A Mobile Home?
In 1976, the Department of Housing and Urban Development (HUD) began to regulate mobile homes. One benefit of such regulation is that mobile home standards have improved over time, something which makes them more attractive to lenders — and owners. That said, a mobile home may or may not be real estate. In some states [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
My father had a stroke. Does that create any special requirements in a real estate transaction?
How bad a stroke? When an individual lacks capacity or has questionable capacity (because of illness, for example), steps must be taken to assure that the individual’s assets are protected. Depending on your state, it may be necessary to get a court to supervise the sale. If the individual seems fine, it may nevertheless be [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
Real Estate Associations
• American Arbitration Association • Appraisal Institute • Association of Real Estate License Law Officials (ARELLO) • Building Owners and Managers Association (BOMA) • Commercial Investment Real Estate Institute (CCIM) • Community Associations Institute (CAI) • Council of Residential Specialists • Counselors of Real Estate(CRE) • Institute of Real Estate Management (IREM) • International Association [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
Is It Time To End Real Estate Referral Fees?
It’s August in Washington, a time of year when the President, Congress, and much of the local bureaucracy is out of town. A quiet time, a time to ponder new and different ideas…. Imagine if the practice of real estate brokerage were suddenly modified. No longer would referral fees be allowed. From now on, the [...]
16Aug2008 | Peter G. Miller | 0 comments | Continued
Must Buyer Brokers Be “Exclusive”?
For several years there has been a debate within real estate regarding who or what may use the term “EBA” or “exclusive buyer agency.” At first this may seem like an obscure dispute, as in “who cares?” But in fact, the matter has importance for buyers, sellers, and the brokers who work with them. On [...]
12Aug2008 | Peter G. Miller | 0 comments | Continued
Numbers Game Understates Realty Appreciation
With so much attention given to stock market ups and downs, pricing changes in real estate are sometimes overlooked. No less important, real estate appreciation is often understated and therefore the investment value of property ownership is played down. The Office of Federal Housing Enterprise Oversight is a little-known government entity which oversees both Fannie [...]
3Aug2008 | Peter G. Miller | 0 comments | Continued
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