19
I think your broker is correct. Item 2 is to clarify expectations and prevent any perception that discounts or repairs are being offered. It does not say that the buyer forfeits the earnest money just by asking for a change in terms. The contract has been accepted by both parties; either of you is free to propose changes (attempt to renegotiate), and unless ...
18
You've essentially made an "as-is" condition. You're letting it be known that you're inflexible on that item; they shouldn't bother trying to negotiate money back at closing or repairs prior to closing. If they try anyway and you decline, they don't forfeit earnest money; they're still within their rights to terminate based on inspection results so long as ...
10
A Realtor (agent or broker) brings much more to the table than simply their license.
Even if we assume you will absorb all the knowledge and skill a realtor has (in order to help you price the home correctly, show it, work through negotiations, work through the closing, and so on), Realtors are also a gateway for buyers and sellers to gain access to ...
7
Your current assets are small compared to what you can expect to earn in a lifetime and compared to what you will need for retirement. Fortunately, you are young and have decades more to save. Many people are in something like your situation of starting out, say with a graduate degree, in their late 20s or early 30s, but with no savings at all and perhaps ...
7
(Disclaimer: I work for a company that does housing contract negotiations daily, but IANAL.)
Are we basically writing a contract with no teeth in regard to the inspection - no money back clause?
Sorta. The contract is a "point in time" negotiation: it says, at the time it was written, you will not be making any repairs (under the assumption no repairs ...
5
I am no expert but I did pick up on a couple flags to watch out for from your question. A key concept when making monetary decisions is to decide based on your goals and what you have NOW. Don't let the upset or disappointment for what has already happened cloud your judgement. Consider the property now, expected earnings, expected cost, expected risk, ...
4
You need to talk to a lawyer.
sevensevens is right. Your father owns half the house, because you signed a legal agreement that says that. He can very reasonably demand to live there. He can probably force you to sell. And he will probably get half the value of the house when you do sell.
However you should talk to a lawyer because nothing is always cut and ...
3
Unless your jurisdiction requires a realtor, I think that it's a bit of overkill to become a realtor in order to save the commissions involved. There's a financial as well as time cost to become a realtor and apart from that, you can do it yourself.
I've bought and sold several homes myself. When selling, I did my due diligence and figured out what the ...
3
Generally, in the US, recipients are never responsible for tax obligations related to gifts - if the gift is taxable, it's the giver who is responsible. The giver needs to include the gift in their tax return appropriately on Form 709 if it was over the annual limit of $15k, which you've stated is not the case. So, effectively, the "gift" you will be giving ...
2
Sell the house and use your half to buy a house you can get approved for on just your income
Now he's threatening to force me to sell the house and take half the money if I don't allow him back. Does he have the right to do this?
Probably. He owns 1/2 the house. Even if he doesn't he can cause you quite a few problems while a court decides.
The only ...
2
You need to look at how title is held. Did you take ownership as 'tenants in common' or 'joint tenants'? 'Tenants in Common' allows for specific (unequal) shares of ownership, while 'Joint Tenants' implies equal ownership.
I've owned a few properties with unequal ownership situations, and used 'tenants in common' to reflect the ownership percentages. For ...
2
It's something that needs careful planning. Do you know anything whatsoever about the market for your profession in Canada or New Zealand? Any idea how difficult it is to get a work visa? Any idea what happens to your pension rights in the UK?
Before I moved, I had six job interviews in my pocket, and one of them turned into a job. So be prepared, and have ...
1
Some thoughts that came into my mind when reading your post - hopefully, some of them are beneficial to you;
First of all, compared to others who start into their career and might plan to go abroad you have a more solid financial background - e.g. you have an 80k loan but a house, while others have no house but a student loan. So, that's definitely an ...
1
I would strongly discourage it. You could find a 'limited service' broker to list your house on the MLS and put on a lock box for about $500 and then the other agents would deal with you directly. You would then pay them if they found you a buyer (usually 3% and you would have to pay this if you had your license too).
I got my license in the year 2003 when ...
1
It could vary by location, but my experience and recollection are that sellers usually pay agent fees. So the larger part of your numbers ($30K) wouldn't be an issue.
To the selling of your current property, consult a lawyer / state laws, but as Dugan alludes there typically aren't rules that require you to have a real estate agent.
If you use the same ...
1
To boil down the @DJClayworth answer to it's essence:
The only thing he has put into my house is ...
his name on the deed, which makes him co-owner, and thus partner and co-controller of the house (lacking any other written agreement).
1
This is really a question for an elder law attorney but roughly-speaking, what that means is:
Americans who cannot private-pay for their care can receive government-funded care in a nursing home. The government will start making payments only after the senior has exhausted their own assets, including cash assets (bank accounts, stocks, bonds, etc), real ...
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