The bottom line on this question is always, “Whatever the courts say.” Divorce law is complex, and different from state to state, and even when you think you’ve got a clear message in the law as written, the courts may interpret it differently, or there may be precedent that says otherwise, or even just some …
Category Archives: Buying and Selling
Housing Bubble Death Trap
That was the wording of a search engine hit I got. It’s not literally a death trap, of course, only much financial pain. But the hyperbole is forgivable in today’s modern society and the state of the current market. Other people may have other definitions of “housing bubble death trap,” but when I’m talking about …
Buyer’s Basic Guide to The Foreclosure Market and REOs
I’ve written articles on when you can’t make your mortgage payment and how to react if you see foreclosure coming in time to do something about it, and even on Short Payoffs, but all of those are owner (seller) oriented. This is intended as a basic buyer’s guide to getting a bargain from people who …
Continue reading “Buyer’s Basic Guide to The Foreclosure Market and REOs”
Rejected Offers to Purchase Real Estate
“overpriced house offer rejected what next” (Before I get started, I want to make it clear that I am using the same definition of worth found in this article: A property is worth what a willing buyer and a willing seller agree on and consummate.) The seller obviously didn’t feel that it was overpriced. Given …
Recurring and Nonrecurring Closing Costs
Many people are uncertain as to what closing costs are. Basically, they relate to the costs of doing the transaction. There are people who work on getting your loan through the process of approval and funding, and those people have got to be paid. Anytime you’re talking about a fee for a service that needs …
Real Estate Boycotts
<blockquote> I simply love “Fear And Greed: How did the real estate bubble get so big” I’m not sure if you are aware that there is a grass-roots group that is starting a “boycott on housing.” They feel that the prices in the San Francisco Bay Area are unreasonable. It’s kind of interesting. The website …
Property Taxes and Whether They Were Paid Through Escrow
my prorated property taxes came were paid at closing but now I’m getting a delinquent tax bill You mean they were supposed to be paid at closing. There are two major possibilities: 1) They were not, in fact, paid 2) They were paid, but were miscredited, or they were properly credited, but your county goofed …
Continue reading “Property Taxes and Whether They Were Paid Through Escrow”
What Can You Recover From the Title Company?
“what can a consumer recover from title company for undisclosed easement” Basically, the cost of the immediate remedy, at least here in California. Here’s a standard example. Mr. and Ms. Smith buy a property and they wish to put a pool in. The purchase process reveals no easements and they quickly take possession of the …
Continue reading “What Can You Recover From the Title Company?”
Buyer’s Agents: What Do They Do?
Got this search:“should I get a buyer’s agent if I’ve already found a house” The answer is almost certainly yes, but I am going to examine both the pros and cons. Full disclosure: This is what I do for a living. The con is fairly simple. If the seller isn’t paying a buyer’s agent, they …
Inducements to Use A Particular Lender for a Purchase
One of the things I’m seeing more of in MLS listings and developer advertising, among other places, is the phrase “$X in closing cost credit (or “$X in free builder upgrades”) given for using preferred lender” Sounds like a bargain, right? Just use their lender and you get this multi-thousand dollar credit. After all, “All …
Continue reading “Inducements to Use A Particular Lender for a Purchase”