Generally, when you purchase a home, you are on the hook for all future repairs. However, exceptions do apply. Do determine the liability, if any at all, of the seller for plumbing problem, for example, courts will look to the purchase agreement for the home, the nature of the problem, whether you had a home inspection, and any specific misrepresentations by the seller.→ Read More
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Your Good Faith Estimate is a key part of your mortgage process. Read this article to understand the ins and outs of what makes it so important.→ Read More
A home refinance may or may not have an impact on your income taxes. Whether or not it does will depend on a variety of factors. One factor is your mortgage. If it is relatively new, meaning, you have only had the mortgage contract for a few years, you are probably still making payments that are going toward the interest of the mortgage loan instead of the balance of the mortgage itself.→ Read More
A contract for the purchase of a home is just that – a contract. It is legally binding on the home seller who agreed to make the repair. As such, you may have a few different options. If the home seller agreed to repair something before the sale but did not make that repair, their failure to honor the details of the contract is called breach of contract. Even though they sold the home as promised, the home seller must also satisfy other promises contained in the contract such as a promise to repair a furnace or leaky windows.→ Read More
Can I sue the seller of our home for major problems that were not disclosed during the sale, and would the home inspector also be liable for not discovering them?
The home seller could potentially be liable for undisclosed problems under the following two situations: 1) If the seller gave the buyer some sort of warranty or guaranty. If the seller it would be liable under the terms of that document, to whatever extent (e.g up to whatever dollar amount) it specified. 2) if the seller committed fraud.→ Read More
I purchased a new condo several months ago. Since then, the builder has not completed the condo, interest rates have risen dramatically, and my moving costs continue to increase. What actions can I take against the builder?
Your purchase agreement is a legal contract that will be enforced by the court of law. If that legal contract contains a specified closing date, and that date has passed, then the builder may be considered to be in breach of the contract. As such, you may be able to collect your damages by filing a breach of contract suit.→ Read More
If you do not have any reasonable alternative for entering and exiting your property other than going across your neighbor’s property, you have an easement for right-of-way. An easement means the right to make affirmative use of another’s property.→ Read More
Can a listing agent continue to show homes even after it’s under contract, approved, and a closing date is set?
A listing agent may be able to continue to show a home to prospective buyers, depending on the agreement that the listing agent has with the person selling the house. Until the buyer actually owns the home and ownership has transferred to him, the buyer doesn’t have any legal right to control what is or is not done with the property. Thus, if the current owners and sellers want the agent to keep showing the property in case things fall through, this is legally permissible.→ Read More
I own a property site with my sister who is living in it rent-free. She is not interested in purchasing my half. I’m not getting any use or value from the property as is. What are my options?
If your sister is unwilling to sell the property voluntarily or to pay you for your half, your best option is to sue for partition. Of course, before you rush to legal action, you may want to try working things out with your sister on your own and trying to come to some type of an agreement.→ Read More