What you need to know about real estate law Whether you are selling or buying a home, contemplating a real estate transaction, or in a real estate law transaction, it is important that you understand your rights and have them explained by a real estate attorney. Property law encompasses many issues that you may never
Read more %1$sBuying a home after a short sale
Recovering From a Short Sale By LISA PREVOST Borrowers who owe more than their homes are worth can sometimes get out from under by negotiating a short sale with their lender. But short-sellers are branded as higher-risk borrowers, so new loans won’t come quickly or easily. A short sale is when a lender agrees to
Read more %1$sFailure to get house survey can be costly
By Ellen Roseman A house buyer learned her parking spot was illegal after closing the deal. She will pay $15,000 to replace it if she can even get a legal spot. Buying a house or condo is a complex process, and many purchasers make decisions under deadline pressure. Vanessa Herman wrote to me about her
Read more %1$sPowers of Deduction
For those weighed down by large mortgage payments, there are ways to save money when next year’s tax season arrives; beekeeping, anyone? By ANYA MARTIN One rueful lesson of tax season: Some deductions require lots of advance planning. Homeowners willing to do the legwork now can find some creative ways to lessen their tax bills
Read more %1$sWarren Buffett Reveals His Secrets for Investing in Real Estate
by Brian Lund There is no lack of information available about the institutional investment strategies of the world’s billionaires — how they move money in their capacity as the heads of large public companies and investment funds — but how often do you get the chance to look inside the personal investments of those billionaires? And
Read more %1$sWhen Buyers Say: Tear Down This Wall
By LISA SELIN DAVIS When it comes to combining dwelling units, two really are better than one. But expect higher fees and more paperwork. Mortgages for connecting two condos or co-ops, or converting a multifamily to a single-family house, can be complicated. “It’s not the kind of thing that you take off the shelf,” says
Read more %1$sA New Weapon for Bidding Wars
By LISA PREVOST In response to the fierce competition for homes in healthy metropolitan markets like those surrounding New York City, some mortgage lenders are taking steps to put buyers who must borrow on par with those offering to pay in cash. Buyers in need of financing are finding they are at a disadvantage in competitive markets.
Read more %1$sWhen Big Loans Come to Town
Big loans aren’t just for big cities. Affluent borrowers in dozens of metro areas sign up for the large mortgages associated with million-dollar listings. Their popularity comes as no surprise in areas such as New York and San Francisco, known for their pricey real estate. But new data show these loans also account for a
Read more %1$sFirst-Time Homebuyers: Don’t Make these Mistakes
Congratulations, you are ready to buy your first home. Now hold on, the process is often long and confusing. First-time buyers may have the urge to embark on this milestone alone, but experts warn the process can be confusing, especially without proper research. Mistakes are bound to happen, says Adam Leitman Bailey, author of Finding
Read more %1$sBOARD APPROVED: NAILING THE CO-OP BOARD INTERVIEW
by Holly Lynch We asked nine current and former board members, one co-op lawyer and one property manager what matters most and some tips for navigating the process successfully. To read the full article click here
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