Real Estate Referral Network is a full service real estate brokage. We specialize in working with people in foreclosure. We also service many bank foreclosures. We have done thousand of inspection for a wide varity of lenders. We have been around since 1997. We pride ourselve in giving reliable service as quickly as possible and being professional at the same time.We offer a varity of services, including but not limited to:
Broker price opionions
Market analiysis
Lease option counseling
Landlord referrals
Deliquent interview
We also have a resourse page that is very helpful to many real estate investors and people looking for listing of homes.
Below is a List of The Most Frequently Asked Questions about Real Estate Answers To Your Real Estate Questions.
Foreclosure Prevents Contractor From Being Paid - A contractor writes that a mortgage company owes him payment for work on a fire-damaged home. The contractor nearly finished the work and then the mortgage company foreclosed on the home and halted payment to the contractor. What can the contractor do to get his money? Sam and Ilyce advise filing a mechanic's lien against the property.
Daughter Assumes Mortgage Payments - A Think Glink reader asks about adding her daughter's name to the deed of her home since the daughter has started to make mortgage payments for her parents. Ilyce discusses the implications of the daughter assuming the mortgage and how to protect both the parents and the daughter in the transaction. Ilyce mentions that there have been incidents where the children assuming the mortgage have evicted their parents. Another option is to add the daughter's name to the house deed in addition to the names of the parents.
Owner Financing Risks Require Due Diligence - A Think Glink reader asks about offering owner financing on a home he's selling. He wants to know what's involved in owner financing and who to involve in the transaction. Ilyce discusses how to assess whether a potential home buyer will make the home mortgage payments and what to do if the buyer later stops making payments. When a seller sells a home with owner financing it's as if the seller becomes a mortgage lender or bank. That means the seller may have to be willing to foreclose in an owner financing situation. Learn more about owner financing in this Think Glink column.
Owner Occupied Status Affects Mortgage Refinancing - A renter asks about an owner-occupied requirement with regard to mortgage refinancing. The renter says his landlord has refinanced the property twice, each time claiming he lives there. The renter wonders if the landlord breaks the law by claiming the property is owner-occupied during a mortgage refinance. Ilyce asks how the renter knows how the landlord refinanced the property and explains that circumstances may change after the mortgage refinance occurs and that lenders don't have time to follow up.
Tenancy In Common And Property Ownership - A Think Glink reader writes that her father bought some property in Missouri and changed the ownership from joint tenants with right of survivorship to tenancy in common. The father later signed a quit claim deed giving his interest in the property to his daughter. What does tenancy in common mean for property ownership? Is the property ownership divided equally so everyone gets the same amount of land? Sam and Ilyce advise that state laws and how the father changed the joint tenancy will determine the answer to the property ownership.
Quit Claim Deed Can Split Community Property - A ThinkGlink reader living in a community property state asks about removing a co-owner from a mortgage and property's deed. The co-owner has not contributed to the maintenance or mortgage of the property. One option is to have the co-owner sign a quit claim deed. Sam and Ilyce advise trying to amicably separate first and if that does not work the property owners should contact a real estate attorney.
Partnership Agreement Prevents Home Sale Woes - A ThinkGlink reader asks about splitting up the investment in a condo after it's sold. Two friends contributed to the condo's down payment but only one of their names is on the mortgage. How much of the proceeds are each of them entitled to after the sale? Can the friend who's not responsible for the mortgage claim a significant amount of the sale proceeds? Sam and Ilyce advise contacting a real estate attorney to determine who gets what and to set up a partnership agreement the next time someone buys property with a friend.
Use IRA Money To Pay Off Mortgage? - A ThinkGlink reader asks about withdrawing IRA money to pay off his mortgage early. Is this is a good idea? What are the tax consequences to withdrawing IRA funds? Ilyce discusses the pros and cons of paying off the mortgage with IRA money.
Son Won't Give Up Property Rights - A ThinkGlink reader writes that her mother wants to sell her house. The house deed has three names on it: the mother, the son and the daughter. The son won't give up his interest in his mother's property to enable the sale. The reader asks what legal recourse her mother has to remove the name of the son. Ilyce says the mother's options are limited and this is a case that shows why parents should think carefully before executing a quit claim deed. The mother may have to share the proceeds of the home sale with her son.
Fire Damage Jeopardizes Short Sale - A ThinkGlink reader writes that fire damaged a home he bought in a short sale. While the home seller had insurance, the insurer had the seller make the repairs. The home buyer worries the repairs are substandard but there's no building code for the home's location. What can the seller do to get out of the contract? Ilyce suggests contacting a real estate attorney to figure out his options.
Housing Market Affects Home Sale - A ThinkGlink reader worries about her real estate agent changing her approach to selling a home. The reader says the real estate agent first said the home "shows well" and is now asking her to declutter her house. Ilyce says the housing market likely changes the approach the real estate agent takes. She says a good agent may change tactics, such as including staging, as housing market conditions shift.
Refinance ARM HELOC Into Fixed Rate Loan - An older Think Glink reader asks about combining an adjustable rate mortgage (ARM) and a home equity line of credit (HELOC) into a 30 year fixed rate mortgage. She's also considering waiting until mortgage interest rates stabilize. Should she refinance the ARM and HELOC into a fixed rate mortgage loan? Ilyce says she should look at the terms of her loan and compare that with market conditions such as the value of her home.
Watch Mortgage Interest Rates To Refinance - A Think Glink reader asks which economic indicators he should monitor as a gauge for when to refinance his mortgage or home equity line of credit (HELOC). Ilyce advises monitoring mortgage interest rates as opposed to all the economic indicators that affect them because of recent events in the housing and financial markets. Learn how to watch mortgage interest rates.
Property Inheritance Saves More Taxes Than Quit Claim Deed - A Think Glink reader asks about property estate planning. The reader's husband's mother wants to leave her property to her three sons. The reader wants to know whether using a quit claim deed or an irrevocable trust is the better option. Ilyce discusses some estate planning issues and advises that inheriting property saves more on taxes than signing a quit claim deed. Learn why here.
Second Marriage Financial Issues Include House Deed - A Think Glink reader asks about her friend who's in a second marriage but does not have her name on the deed of the house she shares with her husband. Ilyce points out that the friend would not be protected if her husband dies, especially if she's not been included in estate planning. Ilyce suggests using a quit claim deed to change the home ownership to joint tenancy with rights of survivorship or tenants by the entirety.
Lien Stalls Real Estate Contract - A husband writes that his wife has a pending sales contract her home and her ex-husband's divorce attorney has placed a lien on the home for attorney's fees. The husband wants to know how to deal with the lien, which is a claim to the property. Sam and Ilyce advise talking to the couple's real estate attorney.
Does Seller Disclosure Include Rotten Neighbors - A home buyer writes that she bought a home under false pretenses. In the seller disclosure, the home seller said she was moving to a retirement community, but it now appears she moved to get away from rotten neighbors. Does the buyer have recourse? Do seller disclosure laws require mentioning rotten and noisy neighbors? Ilyce advises contacting a real estate attorney to understand seller disclosure laws for her area.
Foreclosure Eviction Process Affects Tenants - A renter of a soon-to-be foreclosed property asks about the eviction process. Despite the renter paying his rent, the landlord did not make the mortgage payments. What does the eviction process look like for a renter of a foreclosed property? How soon will the renter be evicted? Can the renter avoid the eviction process by contacting the foreclosure auction purchaser? Ilyce offers advice about the foreclosure eviction process.
Who Negotiates A Short Sale - A home seller asks about the interests of his two lien holders. They are among the parties who negotiate a short sale. If one of the lenders who negotiates the short sale does not agree, the short sale may not occur. Second lien holders such as PMI companies or HELOC lenders want to recoup some of their money and may scuttle a short sale if they're not included. Ilyce discusses who negotiates a short sale and their interests.
Real Estate Taxes Can A Quit Claim Deed Change Who Pays - A father transferred his home to his children using a quit claim deed. He agreed to continue paying real estate property taxes but stopped. Now his children have been notified they're behind on real estate taxes and could lose the property. One child wants to sign a quit claim deed to transfer ownership back to the father. Will this shift responsibility for the real estate taxes? Sam and Ilyce advise to first talk with the father and trying to work something out to save the home.
What Happens In A Short Sale - A home buyer asks about a short sale that fell through. The home buyer met the home seller's asking price but the second lien holder, a PMI company, wanted more money. Learns what happens in a short sale including why an offer may be rejected. Primary and secondary mortgage lenders both play a role in what happens in a short sale.
Signing Quit Claim Deed Removes Late Wifes Name From Title - A ThinkGlink reader asks about adding her name to the titles of property owned by her husband and his late wife. She wonders about the effect of his late wife's name remaining on the title documents. Has the reader discussed her concerns with her husband? He may want to pass the property along to his children. Ilyce suggests using a quit claim deed and working this out with an estate planner or estate attorney.
Water Damage In Basement Is Seller Responsible - A ThinkGlink reader asks about water damage in the basement which has grown mold. During the sale, the seller assured the buyer the water damage was fixed. The buyer now wants to know if the seller is liable for the mold from the water damage she's recently discovered. Ilyce praises the buyer for having documentation to back up her claim and suggests she contact an attorney.
Contract For Deed Means Home Owners Get Sale Proceeds - A ThinkGlink reader asks how a contract for deed and her father's death affect a home sale. Her parents bought a property using a contract for deed and she wonders whether the original seller can claim any of the money from the home sale. Sam and Ilyce advise that once the buyer satisfies the terms of the contract for deed, the buyer owns the property and keeps the home sale proceeds. In this case, the terms of her father's will also affect the transaction.
Seller Disclosure Did Not Include Building Permit - A home buyer asks about holding a seller accountable for not disclosing a missing permit for a studio apartment and for an inaccurate address on the real estate contract. Because the home buyer bought the property five years ago he may have exceed the statute of limitations to sue the seller. Ilyce suggests contacting the title company about the address mistake and a real estate attorney about the permit problem.
Making Extra Mortgage Payments Can Save You Money - A ThinkGlink reader asks about making extra mortgage payments and the timeline. Ilyce says making regular extra mortgage payments will save you more money than making one large extra payment at the end of the year. No matter which way you're making extra mortgage payments, you will likely pay off your mortgage sooner and save money.
Home Equity Line of Credit Counts As Second Mortgage - A ThinkGlink reader asks whether his home owners insurance was correct to count a home equity line of credit as a second mortgage. Having a second mortgage scares the reader because his first mortgage is relatively low. Ilyce explains that the insurance is correct to count the HELOC as a second mortgage because the HELOC issuer has a lien on the home.
Did Notary Public Goof In Quit Claim Deed - A ThinkGlink reader asks about a quit claim deed whose signatory died before the quit claim deed was executed. Can the notary public who approved the signature be held accountable? Sam and Ilyce discuss notaries' role in the quit claim deed process.
Creditors Can Unwind Quit Claim Deed - A ThinkGlink reader asks whether it's safe for his mom to quit claim deed her home to him to save the home. The mom has breast cancer and faces high medical bills and worries about losing her home to creditors. Signing a quit claim deed will not protect the home from creditors. Ilyce suggests contacting an estate planner to discuss the family's options.
Estate Planning May Include Quit Claim Deed Reversal - An adult child writes that his mother signed a quit claim deed to give her home to her children. The mother, who lives in a nursing home, needs to sell her home to support herself. The adult child wonders whether signing the home back to his mother and selling it will affect Medicaid benefits. Ilyce suggests contacting an estate planning attorney. Timely estate planning can help you avoid these kinds of dilemmas.
Deed in Lieu of Foreclosure Affects Credit Score - A landlord wants to sell her investment property and has trouble. While the property is rented, the rent does not cover the mortgage. The landlord wants to know the effect of filing a deed in lieu of foreclosure on her credit score. She called the credit bureaus but could not get a direct answer. Ilyce says that the effect of a deed in lieu of foreclosure on a credit score depends on the individual because each person has different credit factors.
Real Estate Contract Who Makes the Offer - A home seller asks whether he should approach a home buyer with the asking price for his home. The seller says the real estate agent wants him to approach the buyer. Ilyce asks whether the real estate agent represents both the buyer and the seller, as a dual agent. Ilyce also discusses why the real estate agent's proposal may reveal strange circumstances around the home sale.
Canceling A Real Estate Contract Leads to Lawsuit - A home buyer decides to drop financing for a new home purchase after discovering high financing fees. He's canceling the real estate contract but the sellers have threatened to sue. How can the home buyer break the real estate contract but not be sued? Ilyce and Sam suggest the buyer contact a real estate attorney.
Corporate Relocation and Land Acreage - A reader asks about gifting land to enable a corporate relocation. Some corporate relocations may be limited to land acreage of a certain amount. Ilyce and Sam suggest the reader ask to waive the land acreage requirement so that the corporate relocation can proceed.
Owner Financing Deadline What Happens If It's Not Met - A reader asks the consequence of not meeting a deadline to repay owner financing for a home. In a well-executed owner financing scenario, the buyer and seller sign a promissory note that details the terms of the owner financing. Can the owner who financed the home take it back if the deadline is not met?
Capital Gains Tax On Home Sale - A home seller asks about paying capital gains tax on a home sale. The home seller thinks she and her husband may be exempt from paying capital gains tax. Ilyce Glink advises that the home seller will have to pay capital gains tax, although less if she's lived there two of the last five years.
Quit Claim Deed Tax Basis - A Think Glink reader wants to know what taxes the beneficiaries of a quit claim deed will owe. The reader says his mother signed a quit claim deed to give her home to her adult children and now she's in an assisted living facility. The adult children want to sell the home that's been quit claimed to them but they are unsure about the tax basis of the property. Ilyce advises that the tax basis for a home transferred using a quit claim deed is the same as that of the original owner.
Real Estate Commission Reduced By Advertising Costs - A real estate agent writes that real estate commissions are reduced by real estate advertising costs. The real estate agent describes other costs that lower real estate commissions more. In addition to real estate advertising costs, real estate agents may have to split commissions with other agents and pay for gas and extra help.
Inheritance Real Estate Tax And Title - A reader received a home as part of an inheritance and wants to know how to put the home's title in his name. He also wants to declare the home his principal residence and wonders how to do this when he owns another home in another state. Declaring a home a principal residence affects real estate taxes. What should the home owner do about the inheritance, real estate tax and title?
Investment Property Cash Out Refinance - A real estate investor asks about doing a cash out refinance of his investment property. Taking cash out during a refinance has become more difficult, especially for investment properties. What can the real estate investor do to access the equity in his investment property?
Mortgage Lender Should You Become One - A Georgia home owner inherited a house in California from an elderly relative. The home owner wants to reward the relative's caregiver by selling her the home despite her bad credit. The home owner says he's willing to be the mortgage lender to her. He wants to find out who can do the mortgage loan paperwork if he decides to hold the mortgage. Ilyce gives the home owner some options so that he can reward the caregiver and protect his interests.
Monthly Payments On Mortgage Exceed Refinancing Terms - A home owner says she tried to refinance her home and arrived to the closing to find her monthly payments on her new mortgage would exceed the original refinancing terms. She cancelled the refinancing because the monthly payments on the new mortgage would be too high. The lender now wants her to pay fees even though she did not go through with the refinancing to change her monthly payments on her mortgage. Does the home owner have to pay the fees?
Room Design Using It To Sell Your Home - A home seller asks about changing the design of the rooms in her home. Changing the layout or the design of the rooms of your home may help it to sell. Ilyce advises the home seller to balance the cost of changing room design with the expected home sale results.
Condominium Declaration Affects Renting Out Units - A condo owner asks about how a condominium declaration affects her ability to rent out her condo. If the condominium declaration does not discuss renting out condo units, the condominium association usually relies on state law. The condo owner could sue to change the condominium declaration but that could lead to upsetting her neighbors. What should the condo owner do?
Roth IRA Investing Or Pay Off Mortgage - A reader nearing retirement asks whether to invest in a Roth IRA or pay off his mortgage. He has a 15-year mortgage to pay off and has extra money for that or to invest in his Roth IRA. What's the better choice? Ilyce discusses Roth IRA investing and the benefits of paying off a mortgage early.
Transfer On Death Deeds Help Avoid Probate - A Florida homeowner asks whether she can avoid probate for her estate by using transfer on death (TOD) deeds. She wants to leave her condo to her son but does not want him to pay probate costs. Can she set up a transfer on death (TOD) deed so that her son avoids probate? Florida does not support TOD deeds for real estate but she can consult an estate attorney for help with probate laws and possibly setting up a trust.
Capital Gains Tax On Home Sale After Death - A reader asks about how to pay less tax on the proceeds of the sale of his father's home after his father's death. The reader wonders about putting the proceeds into an IRA to avoid tax. Ilyce discusses his options to reduce the capital gains tax on the home sale.
First Time Home Buyer With No Down Payment - A self-employed first time home buyer asks for advice. The first time home buyer has a great credit score but no money for a down payment. Many non-profit programs that used to help with a down payment have gone away. What options does the first time home buyer have without money for a down payment?
California 1031 Exchange Company Closes Doors - A real estate investor asks what to do now that his 1031 exchange company in California has closed its doors. The real estate investor may not be able to get his funds back now that the 1031 exchange company has closed its doors. Who can the real estate investor contact regarding the 1031 exchange company that went out of business?
Cancel Easement - A home owner asks about cancelling an easement that he has on his neighbor's property. The easement may be for utilities and will be affected when the neighbor builds a pool. Both parties must agree to cancel an easement.
Quit Claim Deed To Save Home - A property owner writes that his neighbor wants to quit claim deed a home to him. The neighbor is on the verge of having trouble making mortgage payments and may face foreclosure without saving the home with a quit claim deed. What's the impact of signing a quit claim deed to save a home?
Real Estate Investment - An investor asks about buying a real estate investment. The investor has calculated the return on investment for the real estate investment properties he's considering. But has he considered other real estate investment issues such as tenant demands and property maintenance? Taking those costs into account may change the investor's mind about buying a real estate investment.
Lease Purchase - If you're trying to sell your home in a tough housing market you might consider offering a lease purchase. In a lease purchase the seller rents the property to a tenant who may later buy it. The tenant puts down a non-refundable option fee which goes toward the purchase of the home. Learn about how lease purchases work and if it's the right choice for you.
Easement - A property buyer asks about easements in a subdivision. An easement allows a second party, such as a utility company or neighbor, access to property. Easements are legally documented and it's helpful to consult a real estate attorney to understand them.
Real Estate Listing Agreement - A real estate agent asks about the length of a real estate listing agreement, which governs how long he can take to sell a home. The real estate agent says 90 days is too short a duration for a real estate listing agreement. How long should the real estate listing agreement last? Does Ilyce agree with the real estate agent about the real estate listing agreement?
Tenancy By The Entirety - A home owner asks about how to title his home with his wife, who works in medicine. Ilyce describes tenancy by the entirety as the best option. Tenancy by the entirety means both of them would own all of the home and would have to agree with most choices having to do with the ownership and sale of the home.
Closing - A reader asks who legally owns a home on the day of closing. The party who possesses the home on the day of closing varies depending on where you live. If a seller stays in a home beyond the day of closing, the buyer should charge the seller substantial rent to assure the buyer that the seller will move out in a timely manner. It's important to be clear on possession at closing.
Quit Claim - An adult child asks what happens when her stepmother signed a quit claim deed. The adult child's father dies and now she wonders what that means for the quit claim deed. Is the quit claim deed still valid? What happens to the property on which the quit claim deed was signed when there are adult children involved?
Divorce Advice for Women - A woman going through divorce says her name is not on the house deed. She's asking for divorce advice for women. One important point of divorce advice for women is seeing a divorce attorney. A divorce attorney provides advice for women going through a divorce.
Renter's Insurance - If you rent your home you should have renter's insurance. Less than half of renters have renter's insurance according to Allstate. Why is renter's insurance important? What does renter's insurance cover? Good renter's insurance will help you replace your belongings in case of a disaster. Learn how to document your property for renter's insurance.
Landlord - A reader asks if now is a good time to become a landlord. How can the potential landlord learn about the rental property market in his area? If you're considering becoming a landlord you should educate yourself about foreclosures, local rental information and investment properties. If you become a landlord you will become a real estate investor.
Lien Waiver - A woman writing on behalf of her sister asks what release form states a supplier or builder has completed his work, received payments and releases any interest in the property. The form she wants is a lien waiver. If her sister was working with a builder, it's the builder's job to obtain the lien waivers. Make sure to get lien waivers signed before making payments.
Quit Claim Deed - A woman asks about changing a quit claim deed. She signed a quit claim deed to remove her name from the title when she went through bankruptcy. Now, despite the quit claim deed and five years later, she wants to add her name back to the title. Learn how she can add her name back to the title using another quit claim deed.
Cancel Short Sale - A buyer asks whether he can cancel a short sale purchase. He doesn't want to lose his cash in escrow if he cancels the short sale. He needs to check the details of his contract before canceling the short sale. To find out how to cancel a short sale he should contact a real estate attorney.
Loss Mitigation - A home owner asks how long the loss mitigation process takes. Ilyce advises to be in constant contact with your lender during loss mitigation. The loss mitigation process may be able to help you save your home.
Quit Claim Deed - A woman asks about giving her home to her sister using a quit claim deed. She wonder whether creditors can reverse a quit claim deed. Can they put a lien on the home if she executes a quit claim deed?
Breaking A Real Estate Contract - A home seller asks about breaking a contract with his real estate broker. In this case, the real estate broker owns the agency. Does the seller have to do something different to break this real estate agreement with his broker?
Relationship Advice - What relationship advice should a man follow when he's ready to sell a house but his female companion is not? The relationship advice concerns the form of his relationship and how much money the woman put toward the house and their lifestyle. Is he trying to end the relationship by selling the house?
Cohabitation - What rights do people have with cohabitation? A couple moves in together but the woman's name is not on the deed or the mortgage. Does she have property rights from cohabitation? What impact does her financial contribution have on what she would get if the cohabitation ended?
Quit Claim Deed - A woman asks about what it means to sign a quit claim deed. She signed the quit claim deed when she was newly married and now she's separated. Her name was not on the mortgage. What effect does signing a quit claim deed have on her rights to the home?
House Mold - A reader asks about mold in a house she bought in "as is" condition. Who can she hold accountable for the house mold? Should the real estate agent or home inspector have pointed out the house mold? Does she have recourse for house mold when she buys a home "as is?"
Foundation Cracks - A homeowner asks about foundation cracks and who should pay to fix them. Can the seller be liable because he did not reveal the foundation cracks upon selling the house? Should the builder pay to fix the foundation cracks? Or will the homeowner have to pay to repair the foundation cracks?
Quit Claim Deed and Mortgage Assumption - A woman says she signed a quit claim deed so that her brother could get the home. He assumed the mortgage after she signed the quit claim deed. Now, he has signed a quit claim deed to give the home to his son, her nephew. The nephew has stopped making mortgage payments and the woman worries about foreclosure. What can she do?
Erosion - A buyer wants to buy a home that's threatened by water erosion. In addition to the risk of more erosion, the home needs other repairs. Is it still worth it to buy the home when it could be further damaged by erosion? The seller has offered to drop the home's price to compensate for the erosion, but is it enough?
Townhouse - A reader asks whether a having a pool in a townhouse community raises the value of each townhouse. This depends on whether other local townhouse communities have pools. A pool will cost townhouse residents more in fees and upkeep, but if it's the only pool in the area it can help increase your townhouse's value.
Estate Planning - A reader asks a question about estate planning. In this case, incomplete estate planning leads to some family members not receiving money after a house is sold. Thorough estate planning ensures that the people you want inherit your estate. Without estate planning, the laws of your state govern your estate when you die.
USDA Rural Development - A reader says that the United States Department of Agriculture, or USDA, offers other loans than guaranteed loans. The other loans are USDA rural development loans. To find out more about USDA rural development loans visit USDA's Web site.
Eligibility for Medicaid - A daughter asks about her father's eligibility for Medicaid after he transfers his home to her. Will his eligibility for Medicaid be affected by the transfer of his real estate wealth? Find out about eligibility for Medicaid and the Medicaid lookback period.
Home Mortgage Rates - A parent asks about selling a property to her daughter who has good credit. She wonders about home mortgage rates and whether they will fall. Even if the daughter sees high home mortgage rates now she can refinance in the future.
Investment Property - The owner of an investment property in Albany, NY, asks what the housing market is like there. He wonders how to gauge the housing market for the investment property he may want to sell. How can he decide what to do with his investment property?
VA Loan Rates - A veteran asks how to find out current VA loan rates. Ilyce suggests contacting the VA regional loan centers for the most current VA loan rates. In addition to VA loan rates you should look at VA loan fees.
1031 Exchange - A restaurant building owner asks about avoiding capital gains tax when using a 1031 exchange. You can minimize taxes depending on how your 1031 exchange is structured. Is a 1031 tax exchange right for you?
Mortgage Fraud - A seller asks about putting money down for a buyer who has no down payment. Lenders want to see buyers put down their own down payment, otherwise it could be seen as mortgage fraud. In this case, it would be mortgage fraud because it would appear that the buyer has money she really does not have. The seller can help the buyer with closing costs and not incur mortgage fraud.
EIFS - A home owner asks about replacing synthetic stucco before selling his home. While in this case the EIFS, or synthetic stucco, has been problem free the seller worries about the siding's stigma. Ilyce suggests researching whether replacing the EIFS will be cost-effective.
Drainage - A couple writes that their new home may have water drainage problems. After a rain storm, they returned to find their home's ground level covered one-third with water. They suspect drainage problems but are not sure. Can they hold the seller liable for not disclosing that the drainage problems led to water entering the home?
MLS Listing - A Baltimore reader asks about how long his home has to be out of an MLS, or multiple listing service, to get a new listing. Each area's MLS has its own listing rules. Aside from adjusting the MLS listing, Ilyce suggests some ways to help sell your home in a down market.
Apartment Finder - A reader asks about starting an apartment finder web site and whether she needs a real estate license. This apartment finder web site would allow landlords to post listings for about $20 per month. Ilyce suggests contacting in intellectual property attorney to fully understand what it takes to start an apartment finder web site.
Earnest Money - After a home sale falls through, a buyer asks about getting earnest money back from a real estate agency. The real estate agency cashed the earnest money check. What can the buyer do to get her earnest money back?
VA Loans - A home buyer who is also a veteran, asks about buying a home from his girlfriend with a loan from the Veterans Administration, or a VA loan. He wants to know whether he can use his girlfriend's income on his VA home loan application. He needs to consider not only the VA's requirements, but also the future of his relationship with his girlfriend.
Earnest Money - A home buyer asks whether he can lose his earnest money after the home he wanted to buy appraises at a lower value and the seller will not lower the price. The seller may be able to keep the earnest money depending on the terms of the house sale contract.
