Real estate transactions Houston Chronicle, United States - Darren O?Conor and John Clark of NAI Houston represented the seller. Bill Rudolf of CB Richard Ellis represented the buyer. LAND: PSH ORG has purchased 15.9 ...
?Lis pendens? is sign of considerable risk Atlanta Journal Constitution, USA - If it is determined in the litigation that your original seller was not entitled to ownership and title to the property, you also will not have such title. ...
Holiday gives residents chance to be creative Huntington Herald Dispatch, WV - She said the store also offers items like garland, outdoor silhouettes and decorative houses, which she said are a big seller at the store. ...
High Road/Low Road 11.28.08: Cena vs. Jericho 411mania.com, TX - Nov 28, 2008 John Cena's spinner title has been a huge seller, so it makes sense for him to create a new belt. John Cena winning the title should give the WWE a new top ...
Aerocar Serial Number 2 On eBay AVweb, CT - The seller claims it is a Model One and carries the manufacturer serial number of "2." The Aerocar is an FAA-registered aircraft that can cruise at 100 mph ...
City teeming with animals as Eid closes in Daily Times, Pakistan - A seller told Daily Times increase in transportation fares had served to increase in animals prices. He said he gave Rs 200 for transportation of each ...
Property transfers The Herald-Times (subscription), IN - Information includes file date, property address, seller, buyer, sale price and date of sale. 3895 W. Vernal Pike, Bloomington; RC One LP of Bloomington ...
Area's emptying retail space ripe for recycling for other uses StarNewsOnline.com, NC - Nov 29, 2008 Then there are the social and environmental benefits to a community ? along with the goodwill generated for the seller ? of recycling an existing building ...
Aspinwall: Step away from the modern pace Pittsburgh Tribune-Review, PA - Towle stocks the latest literary releases such as Dennis Lehane's best seller "The Given Day," a historical novel about early 20th-century Boston, ...
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Recent News and Articles on the Keywords: disclosure + 0.21 + [doc] Related to the article below (Last Update: 8/7/2008)
Stocks: Where Are the Buyers? BusinessWeek - Aug 4, 2008 In August 1990, the ratio bottomed at 0.21, and then consistently showed more and more strength into February 1991. At the bottom in 1982, the ratio jumped ...
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Q: We purchased a home in Oak Harbor that's on a dead-end street. Neither the real-estate agent nor the seller mentioned that for 10 years it's been the city's plan to extend our road. It now appears it will go past a planned shopping center and traffic will become awful. Do we have any recourse?
A: "None at all," says Doug Tingvall, attorney for John L. Scott. While state law says sellers must disclose anything that could materially affect the value of the property, that disclosure stops at the property line.
Thus sellers aren't responsible for telling buyers about possible public-works projects, or plans to develop adjacent property - or even noisy neighbors or a nearby remodeling project that would destroy a view. The fact that neighbors or government may do with their property what they wish is just an inherent risk of buying property, Tingvall says.
Otherwise, the first purchaser in a new neighborhood, for example, "could claim no one else could do anything else on adjacent properties" and potentially make it stick, based on information received.
Tingvall says a careful buyer's best sources of information are neighbors themselves. City and county governments will disclose current building applications, and the police usually will tell you, in general, if the neighborhood you're considering has a crime problem.
Q: I'm new in Seattle and interested in buying a co-op on Capitol Hill. However, I don't know much about co-ops. What questions should I be asking, and what cautions should I take?
A: Western Washington has perhaps 50 co-ops. Some people confuse them with condos, but they differ in significant ways. Most important: In a condo, you own your own unit and have your own individual mortgage. In a co-op, you buy not real estate but a share in the nonprofit corporation that owns the building. You also get the right to occupy a particular unit.
Often there's a blanket mortgage held by the corporation. If the corporation defaults, you may lose your home even though your payments are current.
Seattle real-estate attorney Jim Strichartz suggests you ask these questions:
-- Can you easily get financing, and from whom?
-- Is there a building maintenance plan and adequate financial reserves to carry it out?
-- Are there delinquencies, i.e., problems with shareholder-owners not paying?
-- Does the co-op have the right to approve any new buyers (which potentially could limit whom you eventually sell to)?
-- What are your rights as far as remodeling or improving your unit?
-- Can you sublet it?
Strichartz also recommends you review the co-op's financial records and at least a year's minutes from board meetings. Look for two things: physical problems with the building and dissension among residents.
Talk to lots of residents. "Each co-op is unique," Strichartz says. "They have personalities of their own, and each one is really a function of who lives in it."
One last thing: Legally, the co-op corporation doesn't have to disclose to you the condition of the building.
Q: I'm selling a triplex and would like to delay paying capital-gains tax by purchasing my mother's home. She's running out of funds and needs the money. Is it legal to buy her home and keep her there, which is what we want to do?
A: Yes, it is legal, provided you do what the IRS calls a 1031 like-kind exchange, says Allan Steinman, a certified public accountant with Bader Martin Ross & Smith CPAs.
The rules say that you must sell one investment property (your triplex) and buy another investment property (your mother's house). That qualifies as a like-kind exchange as long as you rent to your mother or anyone else at fair market rate. "If you're not charging her fair market then you're not holding the property for investment and the exchange doesn't work according to IRS rules," Steinman says.
Whether you can swing this deal without paying some capital gains depends on the value of your mother's home. If it costs you less than the net profit of your triplex sale, you'll be taxed on the difference unless you also buy a second investment property.
