Real Property Legal Questions and Answers
How Do I Create a Loan for a Seller Financed Real Estate Sale?
I'm working as an independent agent to purchase a farm property for another person. I going to lend the person 100,000 dollars and hold the first lien on the property. I also be the person who provides all the necessary contracts for sale and purchase of land and house. So, my question is: What forms and documents do I need to purchase & what is the full purpose of title insura...
04/26/2010 | Category: Real Property » Sales | State: Texas | #21912How Do I Create a Promissory Note for a Seller Financed Real Estate Sale?
I am trying to purchase a residential home to be owner financed. The owner is both a Trustee and the co-owner is a individual. Price is $200,000 with $40,000 down and a note for $160,000 at 6% for 10 years secured by ???
04/22/2010 | Category: Real Property » Sales | State: Texas | #21877Can I Avoid Paying Transfer Taxes By Stating a Nominal Sum on A Deed in New York?
My sister and I own a commercial unit in Staten Island, N. Y. consisting of three apartments and a nail salon. The Unit is in both our names as joint tenants with the right of survivorship. I am applying for a mortgage on said property and my sister does not wish to co-sign the mortgage. Therefore, the property has to be transferred from me and my sister to my name alone. ...
04/15/2010 | Category: Real Property » Sales | State: New Jersey | #21800What Forms Do I Need to Sell a Home With Seller Financing in Louisiana?
I am purchasing a house in Louisiana. What other forms besides those in the' Real Estate Sales Package' on US Legal Forms will I need to complete this transaction legally? The details are property will be purchased with earnest money, and financed by the seller with no interest. Purchaser will pay for all fees including title insurance.
04/11/2010 | Category: Real Property » Sales | State: Texas | #21745Should I Use a Contract for Deed or Contract for Sale of Commercial Property?
I am selling a motel with an apartment for $225,000. The buyer is paying 0 down, but will pay 2,000/month, make renovations, pay all taxes and utilities; then in 2 years will pay $250,000 CASH from her trust fund payment. I have letter from loan officer. Do I need a Contract for the Sale of Commercial Property; or a Contract for Deed. Property also has residence (an apartm...
04/10/2010 | Category: Real Property » Sales | State: Tennessee | #21735Can I Assign a Contract to Another Buyer if the Home Seller Fails to Make Repairs as Promised?
This is a complicated situation. In the Spring of 2004 I spoke to a man about buying my home as a life estate allowing my wife and me to retain the right to stay in the home until our death. There were many repairs (some major and some minor) that we agreed on and would be performed immediately after we agreed to these terms that were agreed on over 6 years ago. Only a smal...
04/09/2010 | Category: Real Property » Sales | State: South Carolina | #21734Who pays all the extras costs when buying property from a builder in New York?
I bought a condo in 2006. During closing I had to pay to the builder $9.503.38 for Onsite Sales Marketing + another $2.100.00 for seller's attorney, residential warranty etc. Is it the buyer who has to pay all the fees mentioned above.
03/19/2010 | Category: Real Property » Sales | State: New York | #21458How Do We Sell Our Home and Protect Ourselves from Liability for Repair Work?
We are selling an old house in need of repairs on contract. We have had notices from the city to fix or repair the home so we turned in a offer to purchase between us and the buyer. House is titled under our LLC. What forms do we need to sell this and protect our interest as they will have friends and family helping with repairs we don't want to be liable for someone getting hu...
03/04/2010 | Category: Real Property » Sales | State: Kentucky | #21251How Do I Get a Deed Corrected to Remove an Owner?
My husband and I purchased a parcel of vacant land. The seller sent us the quit claim deed with my husband, myself and another party as the owners. I didn't notice the other name because it had white out over the name. When I received the tax notice, I realized the problem, called the tax office and they said the quit claim deed would have to be resubmitted by the seller. The ...
02/22/2010 | Category: Real Property » Sales | State: Nevada | #21095Can the Buyer Reimburse the Seller for Closing Costs in a FHA Loan?
In an real estate transaction is it legal for the buyer and seller to engage in other contract to for the buye to repay the seller closing cost paid by the seller on an FHA loan?
02/22/2010 | Category: Real Property » Sales | State: Texas | #21072