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Advice to buying and selling homes

Guide to Buy and Sell Homes, Mortgage, Home Equity, Home Credit at WizHomes.com

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Some advice to buying and selling your house

4. My recourse and options when...

4.1 I own a home with a sibling who is living in it rent free. He/she is not interested in purchasing half of it. Hence I am not getting any value from the property. What are my options?

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You can bring a partition action and force a court to divide the property. That will spur a settlement.

4.1 I own a home with a sibling who is living in it rent free. He/she is not interested in purchasing half of it. Hence I am not getting any value from the property. What are my options?

4.2 I purchased a new condo at the beginning of February to be closed at the beginning of May. It is now July and the condo is not completed. Interest rates rose dramatically and the cost for moving around are mounting. Do I have recourse againts the builder?

4.3 We finally found a home we could afford after months searching. Unfortunately, the home inspection revealed a number of defects that werent apparent at the time we agreed to buy the property. Although we can walk away without penalty, we prefer to work out a solution. Hence what are the options?

4.4 In the disclosure statement on a home sale, I wrote that the old roof "leaked(replaced) age 1 year old". The buyer is suing me in court for a leaking roof saying that i had misrepresented the state of the roof. Does he have a case against me?

4.5 We recently purchased a home contingent on a home inspection. It revealed structural water damage to the floor joists, basement dampness and small leaks int he roof. We want to terminate the agreement but the seller us willing to make the repairs. Furthermore, the seller never disclosed the existence of these problems. How can we break the deal?

4.6 We built a new home and closed in March of this year. How long is the builder's warranty on a home and how long is he responsible for doing repairs?

4.7 Is it a good idea to close escrow while there is a tenant in the property that is currently evicted?

4.8 I unknowingly purchased a property contaminated with hazardous waste. Now the EPA wants me to pay for the cleanup. What are my options?

4.9 How do I find about any existing hazardous materials on property I am thinking of buying?

4.10 Within a short time after buying our home, the heating system failed. It will cost a bomb to get replaced. The seller wrote "Dont Know" on the disclosure form, and the home inspector said the system was working fine. Do we have any recourse?

4.11 Our neighbour who has easement rights to his property located behind our home will be shortly selling his property. Do we have any say as to who gets easement?

4.12 I live in a state that permits real estate agents to prepare purchase contracts for their clients. Under what circumstances should I consider having an attorney eyeball the purchase transaction?

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