Todays Rental News » Purchasing

Who pays for code compliance when buyer backs out?

Tim Ballering — Mon, 06 Sep 2010 14:13:26 +0000

Dennis and Laura Burd sold a house to Satoru Kuwabara and May Hsu (the Kuwabaras). The Burds appeal from a judgment obligating them to pay the Kuwabaras the amount it cost the Kuwabaras to make the home code compliant as set forth in the offer to purchase. We affirm.

¶2 On January 21, 2006, the parties entered into a residential real estate contract for the sale of the Burds’ village of Thiensville home to the Kuwabaras. Thiensville ordinances require clear-water compliance inspections upon resale or change of ownership of any residence.(1) By an addendum to the offer to purchase, the parties agreed that the Burds would provide the Kuwabaras a certificate of code compliance prior to closing.

via No. 09-2328.

Is it the Right Tim to Buy?

Tim Ballering — Fri, 03 Sep 2010 11:05:05 +0000

It seems like a great time to buy a house (if you don’t have to sell), values are down (so affordability is up), interest rates are at all-time lows, and high levels of inventory are languishing on the market. It all adds up to buyers who have negotiating power. Yet, the latest housing reports are undoubtedly making many home buyers skittish about entering the market. Here are just a few tips for people trying to figure out if now is the time to buy:

via Zillow News.

WI Court of Appeals on Laundry Room Leases

Tim Ballering — Mon, 30 Aug 2010 13:28:25 +0000

The trial court ruled that two lease agreements held by Coin Appliances, Inc. were enforceable against the Warners and Whites, and that the Warners and Whites breached the lease agreements. But rather than order specific performance, as requested by Coin, the trial court ordered payment of damages pursuant to a stipulated damages clause in the lease agreements

via No. 09-2164

Double Taxed! Corporations done wrong

Tim Ballering — Sun, 22 Aug 2010 15:15:05 +0000

A dilemma every real estate investor who buys and sells property for short term gain faces, is how to proceed if the property does not sell. Most of my clients understand the importance of using a corporation for their short term investing to avoid the dreaded “dealer” classification.

via biggerpockets.com.

RE-buildUSA

Tim Ballering — Fri, 06 Aug 2010 22:21:02 +0000

Dennis Walsh, CEO of RE-buildUSA, will be facilitating a panel session entitled: “Amazing Opportunities for Buyers and Sellers – Understanding the FHA 203k Renovation Loan Program”

via RISMedia.

Home Sales Report Really That Bad? It Depends Who You Ask

Tim Ballering — Mon, 02 Aug 2010 23:38:08 +0000

A broad look at the housing market shows:

Home supplies are rising in most markets

Home sales are falling in most markets

Mortgage rates are at all-time lows

In other words, in most markets, more sellers are competing for fewer buyers, and the “winning” buyers are financing their homes at the lowest rates in history.

via Jack Thinks.

Why Should Buyers Buy During the Current Recession?

Tim Ballering — Fri, 30 Jul 2010 00:55:51 +0000

This is a topic I discuss regularly with would-be buyers and investors: Why would anyone buy real estate in today’s tough times and down real estate market? The answer is very simple: It’s truly one of the BEST TIMES to buy or invest in real estate? Puzzled? Read on…

via - Real Estate Tidbits.

High-end home swapping

Tim Ballering — Sat, 24 Jul 2010 14:21:59 +0000

The march of the hotel alternatives continues, this time with the arrival of a home-swapping service aimed squarely at the upper echelon of homes. Luxe Home Swap allows people with high-end dwellings to swap accommodation with others all over the world.

via Springwise.

It Is Not a Buyers Market

Tim Ballering — Fri, 23 Jul 2010 22:32:37 +0000

The current market does not favor buyers. I repeat, the current market does not favor buyers.Allow me to explain. For months, if not years, you have been told that the glut of housing inventory makes for a buyer’s market of epic proportions. Why, the ancient Greeks themselves would write songs about the opportunities that abound for any would-be hero with a hankering for a house. The only problem with this suggestion? It’s just not true.

via Agent Genius.

Lawsuit Keeps Square Footage Off Home Listings

Tim Ballering — Sat, 03 Jul 2010 22:52:05 +0000

For most folks who are looking to buy a home size matters. But buyers looking for specific details about square footage are discovering just how hard it is to find that information.

via News9.com