Power of attorney urged for selling parent’s home
Q: My mother had to be moved to a nursing home from her "independent living" house. This is a very small retirement community and is connected to an assisted-living facility....
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The truth about hard-money loans
Q: What is a "hard money" loan? A: Technically, it is a loan that is given in exchange for money, rather than to assist a consumer in buying a house....
Use real estate attorney to avoid costly surprises
Q: I purchased vacant land (over a half-acre) a little away from the city in a country-living-style neighborhood. At the time of purchase, the lot was overgrown and mostly couldn't...
Updated estate plan can ease burden on heirs
Q: I have a reverse mortgage that's in my name only. My estranged wife gave me a quitclaim deed. She did not qualify anyway. She does not want this house,...
Don’t give seller control over earnest money deposit
Q: What are the obligations of an escrow agent? I signed a real estate sales contract and gave the seller a $10,000 earnest money deposit. He was supposed to escrow...
Unloading a deed for a time share
Q: What would the legal consequences be for heirs of an estate if the owner of a time share in his will specifically left word for the executor to pass...
Don’t give seller control over earnest money deposit
Q: What are the obligations of an escrow agent? I signed a real estate sales contract and gave the seller a $10,000 earnest money deposit. He was supposed to escrow...
Consider deed in lieu before a foreclosure
Q: What are the pros and cons of a deed in lieu of foreclosure? A: A deed in lieu is where you give the deed to your house to your...
Bottom line on escrow settlement, closing
Q: Is there a difference between an escrow settlement and a house (or condo) closing? A: For all practical purposes, there is no difference. Most Western states use the concept...
Get an appraisal before transferring family property
Q: My parents would like to sell the family property/acreage to me for a low amount (considering what it might be worth) to help with their living costs as they...