Q–Last month, we closed the purchase of our first home. The seller asked for a few more days to move out, and we reluctantly agreed.
That was more than three weeks ago. He gives us one excuse after another. What can we do to get this seller out of our house?
A–Your holdover home seller is now your tenant. Actually, he’s a trespasser–technically a “tenant at sufferance.” You are the sufferee. Getting him out won’t be easy.
Unfortunately, in most states such a tenant can be removed only by following the eviction procedure, which often takes a month or so.
I suggest you contact a local real estate attorney who specializes in evictions so you can get your seller out in the shortest possible time.
Q–When we bought our home a few months ago, we paid a 1 percent loan fee of $1,214 to the mortgage company. Is this tax deductible?
A friend told me his CPA says mortgage loan fees are not tax deductible.
A–Because you bought your home with the help of an “acquisition mortgage,” the loan fee you paid to the lender is deductible as itemized interest on your income tax returns.
However, loan fees paid on most other types of mortgages, such as mortgage refinancing, must be deducted over the life of the mortgage.
Perhaps your friend refinanced his mortgage and was correctly told by his CPA that the loan fee he paid to refinance can only be deducted over the life of the loan. Consult your tax adviser for details.
Q–When we bought our house over a month ago, everything seemed to be in good working order. But after about two weeks, the septic system started backing up.
We called a company to pump it out. They said it isn’t draining properly and will cost several thousand dollars to repair.
It seems to me the lady who lived here before us should pay. What do you think?
A–The difficulty you describe is not unusual. When a family moves into a house that previously was occupied by just one or two persons, the septic system often backs up due to increased use.
Proving the seller is liable because she knew it was defective and failed to tell you can be very difficult.
Your situation shows why you should have had the system inspected before purchase. Proving seller liability for nondisclosure of a serious defect and getting her to pay for the repairs will be an uphill battle. Consult a local real estate attorney for details.
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Have a question about real estate? You can write to Robert Bruss in care of Tribune Real Estate Features Service, 435 N. Michigan Ave., Suite 1400, Chicago, Ill. 60611. Answers will be provided only through the column. Please note that laws vary from state to state and area to area. Consult an attorney for specific legal advice.
