It is a pretty new house (2 years old) which I ended up with in a divorce settlement. There are also a record number of homes for sale in Lincoln right now.
Tag Archives: settlement
Any advice on selling a home “for sale by owner”?
Posted in Homes For Sale
Tagged advice, divorce, divorce settlement, Home, Homes for sale, house, Lincoln, number, owner, record, sale, selling a home, settlement
who is going to be awarded the monies from ameriquest settlement?
I had a mortgage with this co and opted to refinance–due to what I believed was bad practices on their part.
1st time homebuyer- can I remove “for sale” sign in front of the house BEFORE closing? Is that legal?
Closing is still 3 weeks away and there is a tenant there until settlement day. I really want to remove the “for sale” realtor sign, but can I legally do this, since I haven’t closed on the property yet?
Posted in Homes For Sale
Tagged BEFORE, closing, front, homebuyer, house, realtor, sale, settlement, settlement day, SIGN, tenant, time, time homebuyer
Gift letter for downpayment question?
Our home is still on the market, and we are close to settlement on a new home in 3 weeks. My father wants to loan me the money for a downpayment (much more than $24K) until the old home is sold, at which point I would repay him. My equity is more than enough to cover the downpayment. The mortgage lender of course wants us to sign a “gift letter”. I understand their rationale, but my question is what are the tax implications in this situation for m dad? It really is a loan, just interest free and contingent upon the home sale. If I don’t sell the house by the end of this year, will he have to pay taxes on the “gift”? If so, would he recover the tax payment after I pay it back?
Posted in Homes For Sale
Tagged 24k, dad, downpayment, father, gift, gift letter, Home, letter, market, money, mortgage lender, question, rationale, settlement, tax, tax implications
Doe realtors ever pay repair or other costs to close a deal?
My house is close to settlement. The appraisal came through 2K short of the buyer mortage but 3K above the actual sale price. It was planned that I would return 5K to the buyers. Now I STRONGLY believe it to be fair to only return 3K to the buyer since the house appraised for more than the actual sale price. The buyers demanded that I split the difference and provide 4K to them. Since I lose 1K from the orginal deal I agreed only to do repairs that were required by the town I live in, leaving out some repairs that were requested from the home inspector. All repairs are minor including some minor electrical, roof(actually a shingle), gutter, and AC repair. The total would most likely be below 1K.
If the buyers do not agree to me not making all the repairs is it ok to then presure my agent who stands to me 4% off the deal to take care of some repairs.
Or simply put do realtors ever provide money or repairs to close deals?
Sleek my realtor is receving 4%(great deal for him) and the buyers agent(Foxtons) 2%.