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Recent News and Articles on the Keywords: house + buyer + deal  Related to the article below (Last Update: 12/7/2008)

 News results: Standard Version | Text Version | Image Version Results 1 - 10 of about 2,806 for house buyer deal. (0.27 seconds) 
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Do your homework before home auctions
Arizona Republic, AZ -
Home auctions represent the fastest-growing segment of the Valley housing market, promising deep discounts to buyers and rapid-fire sales to lenders, ...

Sify
Rate plan puts homeowners, buyers on hold
San Jose Mercury News,  USA - Dec 6, 2008
By Sue McAllister Silicon Valley homeowners and potential home buyers flooded mortgage brokers and banks with calls and e-mails this week after reports ...
New lending deals won't bring back 2006 Boston Globe
Low-rate talk freezes home buyers NewsOK.com
Will Someone Please Tell Our Government You Can't Legislate High ... Seeking Alpha
New York Times - FOXBusiness
all 1,032 news articles »
Maybe It's Time to Buy
Washington Post, United States -
But just because those indicators are improving doesn't mean that buying any house in any market is a good deal. A lot of people tried doing that during the ...

Washington Post
Hurry, Close on Home Loan
Washington Post, United States -
By Mary Beth Franklin Weak housing prices are a seller's nightmare, but a boon for buyers able to scoop up a bargain. Although most expenses connected with ...
Big Deal Too Much of a Reach?
New York Times, United States - Dec 5, 2008
And such a sale requires only one seller and one buyer. More Articles in Real Estate ? A version of this article appeared in print on December 7, 2008, ...

FOXNews
Bail out car buyers?
Los Angeles Times, CA - Dec 5, 2008
Yet House Speaker Nancy Pelosi still wants to see plans for Big Three investment in high-mileage vehicles, even though Americans will have even less ...
AssociatedPress
A Big Three bailout is worth the gamble The Star-Ledger - NJ.com
Editorials on auto bailout hearings Belleville News Democrat
Memphis Commercial Appeal
all 1,882 news articles »
Home seller is in a good situation
HeraldNet, WA -
Real estate agents represent both the buyer and seller, which should result in a good deal for both. By Steve Tytler Question: I am a 73-year-old widow ...
Buyers' recourse: protecting home cost
Denver Post, CO -
"It's definitely an incentive, but I wouldn't say it clinched the deal," she said. "You worry about what you're going to be doing in the next few years. ...

CharlotteObserver.com
Low-income condos don't always live up to the name
CharlotteObserver.com, NC -
He said officials would inspect proof of income documents that home buyers submitted. ?It's not like we're not having any oversight,? Flynn said. ...
Weigh pros, cons of selling home yourself
Clarksville Leaf Chronicle, TN -
Choosing a price that's too high could limit the amount of buyer interest, while pricing it too low cuts into profits. Next is preparing the home for buyer ...
Source: Google News

 
 

Buyers Lose House Deal Over Late Paperwork

Q: We were preapproved for a mortgage when we bought a house "for sale by owner." Still, the mortgage company got the loan papers to the title company the last day the purchase could close. Then the title company waited to ask us questions. Meanwhile, the purchase agreement became void, and we lost the house. Now the mortgage company wants us to pay the $400 appraisal fee. What do we do?

A: Without more information, attorney Mark Schedler, of Williams Kastner & Gibbs, can't tell if you have recourse against anyone involved in your failed house purchase. However Schedler does note that current market conditions, combined with buying a house FSBO, can create a situation like yours. How? By not building in enough time to complete the deal.

 

In this year's hot market, Schedler says he's seen both buyers and sellers press for ever-faster closings - sometimes less than a month. His view is that requiring less than 45 days is risky because of the huge volume of work everyone from appraisers to lenders to title companies have been experiencing. This potentially creates bottlenecks, any one of which can sink a time-critical deal. Others in situations similar to yours have gone to court, "but the track record of these types of claims is . . . it's very rare (that) the lender is liable to the borrower." Ditto for the title company. And courts have ruled the seller has no obligation to give the buyer more time.

 
So how can buyers protect themselves? By making sure they build in enough time to close the deal. And if they're buying from the owner, Schedler says buyers should consider retaining either a real estate attorney or their own real estate agent to review the deal. "What happened here probably was the buyer didn't understand the process and didn't know how to get things going, and a real estate agent would have done all that. This is a rare problem when an agent is involved." Schedler also says you will have to pay the $400.
 
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Q: When we started building an addition to our house, we discovered the next-door neighbor has an easement for a sewer line running right across our intended building site. Are we allowed to build on top of this easement? What obligations do we have regarding the easement? Also, when we bought this house a few months ago, the seller never disclosed this easement. Do we have any recourse against him if the sewer line must be rerouted?

A: "As a general rule for easements, you may do anything you wish on your property that doesn't interfere with the purpose of the easement and isn't inconsistent with any other specific limitation written in the easement," says Seattle attorney Rebecca Wiess, who handles a lot of easement cases. So the question here becomes whether by building atop the easement you're interfering with the sewer line; your local building department can help you with that one.

As for the nondisclosure question, Wiess says there were two ways the easement could have been disclosed to you before purchase. The first is on the seller's Form 17 disclosure statement, which does ask about easements. However it requires the seller to disclose only an easement that "may affect the owner's use of the property." Did you tell the seller of your building plans?

Second, your preliminary title report should have alerted you to the easement. "If the title company missed a recorded easement, then there's an absolute liability there." In any case, Wiess says you have no legal right to require that the neighbors reroute the sewer line. "This is one where I would immediately open negotiations with the neighbors because you may find it much cheaper to reroute the neighbor's line at your own expense than to go the other routes here," she advises.

Q: Is a condo board required to treat all units equally when it comes to the allocation of funds for landscaping and beautification? Also, can a board require some units to accept the presence of recycling bins or a parking lot full of recreational vehicles in their front yards?

A: A board certainly should try to treat all units equally, "but it's unrealistic to say that everyone is always going to be treated 100 percent equal in a condo environment," says Jim Comin, president of the Kappes Miller condo management firm. This is because the board must do what's best for the community as a whole, and "if there's a problem they're solving, sometimes it has detrimental ramifications to certain units."

Comin doubts you'd have much luck forcing a reallocation of landscaping funds unless you could prove you were being discriminated against. Ditto the issue of recycling bins. If you do think you can prove discrimination, see a lawyer. More realistically, make sure the condo board knows of your position; perhaps you can work with them toward a more favorable outcome.

Home Forum answers readers' questions every Sunday in the Home/Real Estate section. Send questions to Home Forum, Seattle Times, P.O. Box 70, Seattle, WA 98111, or call 206-464-8510 to leave your questions on Home Forum's recorded line. The e-mail address is erho-new@seatimes.com

Sorry, no personal replies.

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