The person who gets the house is based on three factors: If one spouse wants to keep the house Who a judge deems fit to have the home if both spouses want to keep it (assuming neither person can come to an agreement) Both people want to sell Because a home is likely the most […]
Closing costs for a seller are the taxes, fees, and other expenses which are paid by the seller while finalizing the sale of their house. And good news, a seller’s closing costs come from the money earned when the deal closes, so you don’t need to pay out of pocket. Closing costs for sellers include: […]
If you inherited a house, taxes may come along with it. There may be even more hidden costs once you sell the house you inherit, but don’t worry, inheritance taxes on houses are easy to work with and this guide walks you through them without the legal jargon. The costs and taxes with inheriting a […]
An REO foreclosure, also known as a real estate owned foreclosure, is when a house is foreclosed on by the lender, and the lender takes ownership of the title. Sounds a lot like a regular foreclosure doesn’t it? The biggest difference with an REO foreclosure is that the lender, normally a bank, will keep the […]
A probate sale in real estate is when a house belonging to a deceased person is being sold; ‘probate’ being the legal process after someone dies. In probate, courts distribute the deceased’s property in accordance with their will. You will come across one of two people at this stage, the executor and the administrator. An […]
A For Sale By Owner (FSBO) works when a homeowner like you decides to list your house for sale without a real estate agent. The process of a For Sale By Owner follows these steps: Get your house ready to show Set your sales price Market your home Show your home to potential buyers Complete […]
When you need to sell your house fast, you likely have questions. And there’s good reason, the process and costs are a bit different than a traditional home sale. As one of the countries leading home buyers, “we buy houses” companies, we help thousands of homeowners just like you. Below you’ll find the top ten […]
A distressed property is a home where the homeowner has fallen behind on a few (usually three) mortgage payments to their lender, or there is an impending lawsuit coming to the property. When this happens, the lender may take steps to protect themselves from a financial loss by filing a “lis pendens” notice on the […]
Yes, you can sell a condemned house, but you should not expect to get top dollar unless the land is worth a lot of money. Since a condemned house cannot be lived in, the buyer will have to either invest a lot of money in making repairs to the home, or tear it down entirely. […]
A sale-leaseback, also known as a leaseback agreement, is a financial agreement that allows a homeowner to sell their property to someone else and then lease it back from the new owner. A leaseback agreement is a smart idea when you need to free up some cash while still getting to use and live in […]
A deed in lieu of foreclosure is an agreement between you and your lender where you give ownership of your property (the deed and title) to your lender so that you can avoid going into a full foreclosure. A full foreclosure will wreak havoc on your credit score, and agreeing to do a deed in […]
A lien on a property (a property lien) is a legal claim placed by a creditor to hold your property as collateral for missed payments. A lien is placed on your property until you have paid off all of your debt from your creditor. Property liens will impact your ability to sell a property or […]