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Recent Realtor questions
The closing was held up days past the date due to the out of
The closing was held up for several days past the date due to the out of the country seller not getting some required forms over. The Buyer has to move on the day that was scheduled since his home Buyer is closing at the same time and moving into the buyers home. Also the Buyer is unable to reschedule his mover. What can be done to let the buyer into the property he is buying without actually turning over possession until the closing is completed? Could the Seller lease the buyer the property for a week - is this a good solution??
I had a house listed and rent a little over a year ago. Now,
I had a house listed for sale and rent a little over a year ago. Now, in the second year of renting, tenants would like to buy. Is the original listing agent entitled to the original listing commission? Is there an expiration on when he is entitled to the commission from these people he found for renting? Again, the original agent contract expired a year ago.
Can an heir pay off a reverse mortgage upon death of the
Can an heir pay off a reverse mortgage upon death of the owner? Also, if the heir had power of attorney while the owner was alive and signed the sales contract with the realtor is it still binding? How fast can the reverse mortgage company demand payment? Is there anything else the realtor needs to do ing an attorney?in addition to contact
I am a seller, and my agent verbally presented me with the
I am a seller, and my agent verbally presented me with the offer details of purchase price, closing, and date of possession. We are scheduled to close in 2 days, and I have already moved to a new location. I requested the entire offer document today before telling my neighbors they could have our swing set, and saw that the sellers included in the document to include a piece of kitchen furniture in the sale. Despite the fact that this piece has sentimental value, I have already moved it out of the house with me, and my agent never told me that this was part of the offer. If I had known the seller had included this, I would not have agreed. If my agent is taking responsibility for this error, could I still be held liable for breach of contract?
My mother sold her home last year. The buyers of the home
My mother sold her home last year. The buyers of the home had a problem with the sewer backing up and discovered that it it needed 12 more feet installed to be up to code. They also discovered the home that has 3 bedrooms. Is actually only a 2 bedroom on paper. The 3Rd was created by installing a wall and closet in the rec room upstairs.some years after my mom and late husband had the home built.My mom was unaware that the sewer was not up to code or that the bedroom was not permitted and officially changef to a 3 bedroom as her husband handled these things. The buyers are now sueing my mom for the cost of the sewer fix and the difference they feel between what they paid for the home sold as a 3 bedroom and what it's really worth as a 2 bedroom. In their opinion along with attorneys fees. $90.000 is what they want. Stating my.mom sold them something and was being intentionally deceiteful. My mom.has told them she was unaware of the sewer and offering to pay for correcting that. They never had issues with tje sewer. Beyond that she doesn't feel she has any other liability. Does she?Please advise....
My husband was approved FHA Loan (bankruptcy ch 7---3 yrs
My husband was approved for an FHA Loan (bankruptcy ch 7---3 yrs ago) and recieved the letter of approval to purchase a home. We were suppose to close today!!!The lending company said 2 days ago that the home my husband surrendered in the bankruptcy wasn't sold and or recorded with the county recording in 2014...Basically, I know that when surrendering a home in bankruptcy, the house does obviously goes into forsclosure...and for the mortgage company to have full ownership of the property to resell!!! Our discharge letter is dated 2013...We have a family of 8, our house is halfway packed...im a combat veteran, while my husband is still serving...all this happened while my husband was in training...Im pretty sure he thought I was stupid! The lending company will not reply to any of my questions after I stated that I read the FHA LOAN Requirements...my legal docs all state 2013...What are my options...or husbands options?All the time and money into buying this home waisted??? To be told he wanted more money down, 5% and go with a different lender...Ummm not happening something us wrong and my he knows he messed up!!!
I am a new real estate agent,I am preparing a Listing. On
I am a new real estate agent,I am preparing a Listing.On the Cathegory:Cooperative Compensation,I have the options : for example 3% "On Net" or "ON GROSS".Whats the difference between the "NET" and "Gross".Can you give an example ,please?
On a preliminary estimated HUD 1 settlement statement
On a preliminary estimated HUD 1 settlement statement for a reverse mortgage short sale which is required by a lender BEFORE the contract of sale will be approved by the bank (as it is lower than the short sale amount they have determined already) and BEFORE the buyer has obtained financing, in the first section where it states "Type of loan, "file number," loan number," "mortgage insurance case number," is that information the SELLER's existing mortgage or should it be left blank because there is no borrower's loan yet? Also does everything on the form need to be filled out or just the most basic sections such as amounts due from buyer to seller, title costs, fees, etc? Is it necessary to do a lien search at this time to determine other costs on the form (taxes etc) since the transaction has not yet been approved?
I am a buyer and a selling agent in California. I made aView more real estate law questions
I am a buyer and a selling agent in California. I made a contract that required bankruptcy court approvals on 4/13/16. Contract shows Coe will be on or before 6/27/16. If not, buyers or sellers may cancel the contract. Both sellers and buyers did escrow sign off so it can be closed as soon as the docs arrive. But we are still waiting. Escrow says it take 4-5 days, but no guarantee. It's been like that. Listing agent kept saying it's almost coming and I said okay...then keeping waiting. There was no signed Coe extend addendum btwn sellers and buyers. Now I'm tired of waiting. Can I cancel the deal? They are saying maybe next Monday the papers are coming.its Thursday today. If possible, do I use the form, notice to perform or just cancelation notice since I'm dealing with bankruptcy deal?