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Property Management Q & A - Can a tenant break the lease? - 11/29/09 02:25 PM
Property Management q & a
Q: A tenant of mine was the victim of a "home invasion" break-in (it was a co-worker who was mad at him for some reason that broke in). He says he is breaking his lease (he is in the first month of a 12 month lease) and moving out. Does he have the legal right to break his lease? If not, what do I do now?
A: The legislature has identified certain circumstances where a tenant has a legal right to break a lease. For example, where the landlord fails to perform a repair obligation, one … (0 comments)
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Condo Financing Made Even More Difficult - 11/29/09 02:24 PM
FHA announced that it will put new requirements into effect for condominium financing. As of the writing of this article, the new requirements were schedules to take effect October 1, 2009. However, there was talk of delaying enactment until November 2009 to facilitate closing of first time home buyer tax credit transactions. Buyers should consult with their lender to determine whether the regulations will impact their purchase efforts.
In some cases, the new requirements will eliminate FHA loans to entire condo projects while for others, it will make the process of obtaining an FHA loan considerably more difficult and time consuming.
… (0 comments)
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Can I still get a tax credit with seller financing? - 11/29/09 02:22 PM
Question:Can a buyer claim the first-time homebuyer tax credit if buyer purchases using seller financing?
Answer:Yes. So long as the buyer obtains the "benefits and burdens" of ownership of the property, then the buyer can claim the credit. This is true even if the seller retains legal title as seller would if the financing document used was a real estate contract instead of a note with deed of trust. Factors that indicate that a buyer has the "benefits and burdens" of ownership include:...
...The preceding is an opinion from Annie Fitzsimmons, the attorney who answers questions for the Washington Association … (0 comments)
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What if my sale is closing late? Can I still receive a tax credit? - 11/29/09 02:21 PM
Question:First time tax credit buyer entered a purchase agreement several weeks ago, intending to close by November 30 to take advantage of the first tax credit program. Closing will not happen by November 30, but should happen in December. Do buyer and seller need to rewrite their purchase agreement to reflect a different date or do anything else to allow buyer to take advantage of the extended tax credit program?
...The preceding is an opinion from Annie Fitzsimmons, the attorney who answers questions for the Washington Association of REALTORS® Legal Hotline. For additional questions or information, please contact Jen at (206) … (2 comments)
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It's Official! Tax Credit & more... - 11/08/09 11:04 AM
It's official!
Our voices in the real estate industry have been heard and we have reason to celebrate!...
Not only was the $8,000 first time home buyer tax credit extended, we also have a NEW $6,500 tax credit for homeowner who have been in their homes for a consecutive 5 of the last 8 years....
Both of our tax credits will be available through June 30, 2010, but you'll need to plan ahead. In order to qualify for the new tax credits, both buyers will need to be under contract no later than April 30, 2010 and have the sale closed … (2 comments)
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Changing/ Starting Out With Condominuim Property Managers - 11/01/09 01:30 PM
Changing/ Starting Out With Condominuim Property Managers
Once Upon a Time...
"All your condominium documents are in a box -- somewhere. Someone passes the box to another person. The box ends up somewhere else.
"Everything gets taken care of. Everybody lives happily ever after."
The End.
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...Too many condominium owners and board members believe that story of what happens to the business of condominiums; that the property managers fix/ repair/ adjust/ moderate/ mediate/ pay/ collect and so forth, and pay themselves out of your assessments. All based on the contents of a box of documents.
Start With The Board
Finding … (1 comments)
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Jen Hudson - Stanwood, Camano & Arlington,WA
Stanwood,
WA
More about me…
Windermere Real Estate/M2, LLC
Address: 95020 19th Ave, Everett, WA, 98208
Office Phone: (360) 652-1200
Cell Phone: (206) 293-1005
Email Me
What you should know about real estate in Stanwood, Arlington & Camano Island, WA. And, maybe some other tips too.
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