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Earnest Money: What Happens When Your Home Purchase Falls

9 days ago . 58 people watched

  • In nearly every real estate purchase contract, the seller will require that the buyer deposit earnest money—a sum of money that the buyer puts into trust during the transaction to demonstrate good faith.The earnest money amount is often dictated by the seller, and can be a flat price or a percentage of the purchase price
  • The purpose of earnest money is to provide the seller with

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Real Estate Trust Or LLC

7 days ago . 24 people watched

  • For people looking to ensure that their investment property avoids death taxes, transferring it to heirs by way of a real estate trust can be a workable option
  • At one time, real estate trusts were a great way for investors to remain anonymous.

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Who Pays The Real Estate Taxes The Year You Buy Your Home

2 days ago . 58 people watched

  • The real estate tax year in the area was the calendar year
  • The real estate tax due for the year was $900 and was paid by Sandra on August 1
  • The sales contract Bill and Sandra sign should pro-rate payment of these taxes based on the number of days each own the house during the year of sale
  • Bill will own the property for 122 days, which

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The $250,000/$500,000 Home Sale Tax Exclusion Nolo

5 days ago . 51 people watched

  • One aspect of the exclusion that can be confusing is that ownership and use of the home don’t need to occur at the same time
  • As long as you have at least two years of ownership and two years of use during the five years before you sell the home, the ownership and use can occur at different times.

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Does A Home Seller Have To Accept A Full-Price Offer

7 days ago . 52 people watched

  • Real Estate Purchase Agreements Are Complex In order to be legally binding, a contract must contain enough detail for a court to be able to enforce it in the event of a dispute
  • A promise to purchase real estate without more detail than price and lack of contingencies is not definite enough to enforce, as the parties would still have many more

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States That Allow Transfer-On-Death Deeds For Real Estate

5 days ago . 58 people watched

  • If you own real estate in any of the states listed below, you can use a TOD deed to leave that real estate to someone
  • Like regular deeds, TOD deeds must be signed, notarized, and filed in the county's land records office
  • You don't have to be a resident of the state to use a TOD deed
  • Alaska Arizona Arkansas California

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If You Inherit A Home Do You Qualify For The $250,000

7 days ago . 54 people watched

  • Home Legal Topics Real Estate & Rental Property Selling a House The Finances of Selling a House Tax Issues in Home Sales
  • If You Inherit a Home Do You Qualify for the $250,000/$500,000 Home Sale Tax Exclusion? Special tax rules apply when you sell a house you inherit

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Getting Your Home Back After A Tax Sale Nolo

7 days ago . 45 people watched

  • This article covers just a few of the situations that might provide grounds to set aside a tax sale
  • If you’ve lost your home to a tax sale and want to learn more about setting the sale aside or redeeming the property, you should speak with a qualified real estate attorney, tax …

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How To Describe Property In A Will Nolo

1 days ago . 40 people watched

  • You can simply provide the street address or, for unimproved property, the name by which it is commonly known
  • For example: my condominium at 123 45th Avenue; my summer home at 84 Memory Lane in Oakville; the vacant lot next to the McHenry Place on Old Farm Road

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Sell Your Home FSBO Or With A Real Estate Agent

9 days ago . 47 people watched

  • Some states do, however, require a real estate attorney to handle the transfer documents and closing, particularly in the eastern part of the United States
  • Check with your state department of real estate to find out whether an attorney is required in the state where your home is located.

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California Real Estate Lawyers Nolo

1 days ago . 36 people watched

  • is a boutique law firm serving the legal and business needs of its clients in the areas of real estate, land use, corporate law, estate planning, and civil litigation

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Buying A Mobile Home Instead Of A Regular Home: Pros And

4 days ago . 57 people watched

  • Home Legal Topics Real Estate & Rental Property Mobile, Manufactured, and Tiny Homes
  • Buying a Mobile Home Instead of a Regular Home: Pros and Cons
  • Weighing the cost and convenience of mobile homes with other factors such as depreciation in value and difficulty selling

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Are You Getting All Your Pennsylvania Property Tax Breaks

2 days ago . 58 people watched

Real Estate Buying a House or Property Neighbors Selling a House Mobile, Manufactured, and Tiny Homes Homeowners: Taxes, Improvements, and More Popular Products from Nolo Neighbor Law Nolo's Essential Guide to Buying Your First Home Selling Your House

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Tax Advantages To Landlords Married To Real Estate

3 days ago . 51 people watched

  • Real estate professionals also are not subject to the Net Investment Income tax (NII tax)
  • The NII tax is a separate flat 3.8% income tax on unearned income, including rental income and gains from selling rental property
  • You're only subject to the NII tax if your adjusted gross income for the year exceeds $200,000 if you're single, or $250,000

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Tax Benefits Of Selling Your House By Installment Plan Nolo

3 days ago . 60 people watched

  • Installment sales of real estate have been around forever
  • But they may get more popular than ever due to 2013 changes in the tax laws
  • Installment Sales: One Form of Seller Financing
  • Installment sales of real estate are a form of seller financing
  • Instead of borrowing money from a bank or other financial institution to pay the seller, the

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What Are Riders To Real Estate Purchase And Sale

7 days ago . 49 people watched

Real Estate Buying a House or Property Neighbors Selling a House Mobile, Manufactured, and Tiny Homes Homeowners: Taxes, Improvements, and More Popular Products from Nolo Neighbor Law Nolo's Essential Guide to Buying Your First Home Selling Your House

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Durable Financial Power Of Attorney: How It Works Nolo

6 days ago . 55 people watched

  • If your agent will have authority to deal with your real estate, you must put a copy of the document on file at the local land records office
  • (In two states, North and South Carolina, you must record your power of attorney at the land records office for it to be durable.)

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Negotiate The Agent's Commission When Selling Your House

8 days ago . 56 people watched

  • A real estate agent knows he or she will have to work harder if your home isn't model home ready and may be less likely to reduce the commission
  • Ideally before the agent even sees the place, add curb appeal to get shoppers excited about the property, and spiff up the inside so that it's clutter free, sparkling like a gem, and laid out for easy

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Powers Of Attorney For Real Estate

Just Now . 34 people watched

  • A power of attorney for real estate is a useful, but limited, legal document
  • It allows you to give someone the authority to buy or sell real estate for you, or to conduct any other business concerning real estate that you own
  • The person you name to represent you is called your "attorney-in-fact." Any trusted person with common sense can do

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Signing A Listing Agreement With Your Real Estate Agent Nolo

3 days ago . 61 people watched

  • A “listing agreement” is a contract between a real estate agent (the listing agent) and a seller that says that the agent has the right to list (advertise and handle the sale of) your house
  • It’s important to understand the terms of the agreement, because you’ll be bound by them
  • And while a listing agreement is good for the agent

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What "Open And Notorious" Use Of Property Means For An

8 days ago . 65 people watched

  • An important element of establishing a claim to another person's land using the legal doctrine of adverse possession is that trespassers must be “open and notorious” in their use the disputed land
  • That's on top of the other requirements that the use be hostile, actual, exclusive, and continuous for a certain number of years (usually set by state statute).

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Real Estate & Investment Property Nolo

7 days ago . 43 people watched

  • The customary role of attorneys in New York home purchases can create confusion about where the real estate agent's role ends and the attorneys' role begins

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Michigan Real Estate: Buying, Selling, And Owning Property

2 days ago . 59 people watched

Interested in purchasing, selling, improving, or otherwise dealing with a home or property in Michigan? Learn about legal and practical aspects of Michigan real estate transactions here.

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Are You Getting All Your New Jersey Property Tax Breaks

Just Now . 56 people watched

  • Depending on the complexity of your situation, you might wish to seek legal, tax, or accounting help to reduce your New Jersey property tax
  • To find an experienced real estate lawyer in New Jersey, check out Nolo’s Lawyer Directory.

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California Real Estate Law 2021: Homes In Fire Hazard

8 days ago . 54 people watched

  • The year 2021 won't bring big changes to California real estate law, but previous years brought massive wildfires that destroyed many homes and cost people their lives
  • In response, the California legislature passed (and Governor Newsom signed) AB-3074, which addresses "fire prevention, wildfire risk, defensible space, and ember-resistant zones."

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Home Buying Timeline: From Offer To Purchase Contract Nolo

3 days ago . 59 people watched

  • With any luck, after submitting the offer to buy a house, the first thing you'll hear back from your real estate agent is that the seller is interested in going forward
  • But that doesn't yet mean you're in contract; that is, mutually bound to complete the sale
  • It's rare for a seller to accept a buyer's offer as written.

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Selling My House: Do I Have To Disclose A Previous Death

Just Now . 57 people watched

  • My real estate agent seems to think I shouldn’t worry about this, but I am worried
  • Do I legally need to tell buyers about the recent death? Will it drive away buyers? Answer
  • What you’re talking about is the issue of “psychological damage” to a property, to be distinguished from “physical damage.” In …

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Do I Need A Special Real Estate Agent To Buy Vacant Land

6 days ago . 57 people watched

  • Typically, residential real estate brokerage agencies don’t specialize in different kinds of real estate (for example, rental apartments or single-family homes)
  • However, individual brokers who are affiliated with that agency might be specialists, or at least experienced, in specific kinds of real estate.

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Trademark Class 36: Insurance And Financial Services Nolo

Just Now . 58 people watched

  • Warranty services, Real estate services, accommodation bureaux [apartments], apartment house management, housing agents/real estate brokers, leasing of real estate, leasing of farms, real estate agencies, real estate management, rental of offices [real estate], renting of flats/renting of apartments
  • Rent collection, rent collection.

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Oregon Real Estate: Buying, Selling, And Owning Property

Just Now . 57 people watched

Interested in purchasing, selling, improving, or otherwise dealing with a home or property in Oregon? Learn about legal and practical aspects of Oregon real estate transactions here.

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New York Real Estate Lawyers Nolo

9 days ago . 34 people watched

Reis Cooper LLP is a highly respected Manhattan real estate and business law firm, serving individuals and companies in the purchase, sale and leasing of commercial and residential properties throughout the New York Metropolitan Area, including Westchester, Nassau and Suffolk counties.

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Are You Getting All Your Texas Property Tax Breaks

5 days ago . 50 people watched

Real Estate Buying a House or Property Neighbors Selling a House Mobile, Manufactured, and Tiny Homes Homeowners: Taxes, Improvements, and More Popular Products from Nolo Neighbor Law Nolo's Essential Guide to Buying Your First Home Selling Your House

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Who Can Claim Property Based On Adverse Possession In

2 days ago . 54 people watched

  • If you own a home or other property in Tennessee, then you likely have two or three neighbors whose land borders yours
  • Many property owners are surprised to know that under a legal concept called adverse possession, a neighbor can actually lay claim to a portion of their land by using it …

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What Happens If You Don't Pay Property Taxes On Your Home

8 days ago . 57 people watched

  • To find out if you get the right to redeem your home after a tax sale in your state and find out the procedures for doing so, talk to a local real estate attorney or tax attorney
  • If you're facing a foreclosure and want to learn about options for your particular circumstances, consider talking to …

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Adverse Possession: When Trespassers Become Property

5 days ago . 53 people watched

Real Estate Buying a House or Property Neighbors Selling a House Mobile, Manufactured, and Tiny Homes Homeowners: Taxes, Improvements, and More Popular Products from Nolo Neighbor Law Nolo's Essential Guide to Buying Your First Home Selling Your House

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How Joint Owners Can Transfer Survivorship Property After

6 days ago . 58 people watched

  • Laws affecting real estate are always set by the state in which the real estate is located
  • To transfer jointly owned real estate to the surviving co-owner, you'll have to find out the exact procedure for your locality
  • The general idea is the same everywhere, however
  • You need to put a document on file in the local public land

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What Does It Mean When A Property Is REO

2 days ago . 40 people watched

  • Foreclosure is the legal process where real estate secured by a mortgage or deed of trust is sold to satisfy a debt
  • Depending on state law and the circumstances, the foreclosure will be judicial or nonjudicial.At the end of the process, the property is sold so that the lender can recoup the amount it loaned to the defaulting borrower.
  • At the foreclosure sale, the foreclosing bank can make a

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Massachusetts Real Estate Lawyers Nolo

4 days ago . 39 people watched

  • Real estate attorney serving eastern Massachusetts Buying or selling a home can be a nerve-racking experience for everyone involved
  • When so much is on the line, you need a knowledgeable real estate attorney who can break down your problems and help you get the results you are looking for.

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Florida Real Estate Lawyers Nolo

8 days ago . 33 people watched

Apalachicola attorney helping Florida attain their real property, probate and general civil litigation objectives Established in 1991, the law office of Steve Moore Watkins III, provides comprehensive and customized legal solutions regarding your toughest real estate, probate or civil litigation challenges.

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Oregon Estate Tax Nolo

2 days ago . 23 people watched

  • Information about the Oregon estate tax is available from the Oregon Department of Revenue
  • When an Estate Tax Return Is Required
  • If the gross estate of an Oregon resident has a value of more than $1 million, the executor must file a state estate tax return
  • Your gross estate will include everything you own at your death: Real estate

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About nolo.com real estate

Real estate practices across the United States vary widely, and are a mix of law and tradition. For example, in some states, a lawyer's help is required to close the purchase, and in others not. Learn about buying, selling, and owning residential real estate in your state and get advice concerning your real estate questions.

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FAQ?

What are the working conditions of a real estate?

Real Estate Agents - Working Conditions. In a typical work setting, real estate agents: Have a high level of social contact. They are in constant contact with buyers, sellers, and other agents. Are often placed in conflict situations in which buyers and sellers may be rude or angry.

What to do to sell your house successfully?

What to Do to Sell Your House Successfully: 12 Universal Tips Virtually Every Homeowner Can Use Sign on with a stellar real estate agent-STAT. Hiring the right real estate agent should be first on every home sale... Use the 'invade your space' test to make sure you've decluttered enough. What's on your nightstand? A box of tissues,... More ...

What you should know before becoming a realtor?

Before becoming a realtor, know that requirements vary from place to place. However, all states mandate that candidates have a high school diploma and be 18 or 19 years of age. To perform real estate duties, the person must complete state-approved courses and pass an examination to earn their license.

How much does it cost to sell a house?

The cost ranges from about $500 to $1,000. The title company will run a title search on the property during the sale process. If a lien on your home is revealed, you’ll also need to settle it before you can sell the house.

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