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Questions Answered by Vincent Gallo
1 Answer | Asked in Land Use & Zoning and Real Estate Law for Arkansas on
Q: My grandma passed away in 2018 she owned a house and my dad passed away in 2016 so would that mean the house is left to

Me or would it be left to my dads sister cause she’s telling me I need to sign papers so she can sell it this is in the state of Arkansas please help I need to know what I can do and what my options are

Vincent Gallo
Vincent Gallo
answered on Jun 20, 2020

Your grandmother’s will shall determines who inherits the real estate.

2 Answers | Asked in Real Estate Law for California on
Q: We signed an agreement to buy a house. Now we find it needs $30000. in repairs. Do we still have to buy?

The foundation and brick fireplace need repair.

Vincent Gallo
Vincent Gallo
answered on Jun 20, 2020

You would need to examine the contract to see what it specifically provides.

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2 Answers | Asked in Land Use & Zoning and Real Estate Law for Oregon on
Q: How do i get property in my name with the title owner deceased
Vincent Gallo
Vincent Gallo
answered on Jun 14, 2020

You would need to prove your entitlement to the real estate.

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1 Answer | Asked in Real Estate Law for Indiana on
Q: I am in the middle of a purchase of a home. I have buyers remorse. No other offers were available. Can I back out?

No other offers on the table, no money spent to prepare house, we have signed all documents leading up to purchase but signed 2 weeks prior but have 2.5 weeks until closing. My wife lost bonuses from her job due to Covid-19. Can I back out if I pay for all closing expenses occurred to this point... View More

Vincent Gallo
Vincent Gallo
answered on Jun 7, 2020

You’re right and your obligations should be defined in the contract that you signed. If, however, you strike a deal with your seller which is amenable to both sides, anything is negotiable.

2 Answers | Asked in Real Estate Law for Colorado on
Q: Under contract for a home and builder isn’t following through timeline. We pay $638 every 7 days to extend our lock.

It’s a builder contract so wondering what power we have in the situation. If we can get any compensation from the builder to offset unexpected costs?

March 24 - Contract Date, we were informed that the build was estimated for completion on April 22.

May 8 - extension of Review... View More

Vincent Gallo
Vincent Gallo
answered on Jun 4, 2020

Responding from a New York perspective, mortgage rates are plummeting so you may want to consider letting your lock in expire and request a market rate which should be lower.

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3 Answers | Asked in Contracts and Real Estate Law for New York on
Q: We are doing a private home sale in New York. Can we ask the buyer to provide mortgage down payment information?
Vincent Gallo
Vincent Gallo
answered on May 30, 2020

Of course, you’re entitled to know if they can really afford to purchase your house.

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4 Answers | Asked in Civil Litigation, Mergers & Acquisitions and Real Estate Law for Ohio on
Q: I co own land and need to sell my interests. The other owner doesn't want to sell or buy me out. Am I stuck?

I have a buyer. I really need the money for medical bills. The co owner wants to keep it, and wants me to remain co owner. I feel stuck. How do I sell my share of the property. It is not divided by surveys, one 36 acre piece of woods.

Vincent Gallo
Vincent Gallo
answered on May 28, 2020

Responding from a New York perspective, you could bring an action to force the sale of the real estate.

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3 Answers | Asked in Real Estate Law for Virginia on
Q: I'm in Virginia. Entered into contract to sell my house. Buyers have now indicated that they no longer feel happy

about the purchase. They want out of the contract. They are pressuring me to sign a document basically stating a mutual agreement to break the contract and forfeiting their deposit. What alternatives do I have?

Vincent Gallo
Vincent Gallo
answered on May 17, 2020

The contract of sale with you both executed with governor as to whether either party has the right to cancel the contract. Unless the contract contains a specific force majure clause, the virus alone would not be grounds to cancel the contract.

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1 Answer | Asked in Real Estate Law for Nevada on
Q: How can I compel a co-owner to sell jointly owned property? I inherited it in 2016, and is 50% in my trust.

Brother (co-owner) has lived there 7 years rent free, with no desire to sell. what are my options?

Vincent Gallo
Vincent Gallo
answered on May 10, 2020

Responding from New York perspective, you would bring what is referred to as in action in partition. This would force the sale if you and The co-owner cannot come to terms.

3 Answers | Asked in Real Estate Law for Florida on
Q: If 2 people own as joint tenants with survivorship, can 1 of those tenants deed their interest to a third person?

Can 1 of those joint tenants transfer their interest to a third person without the other joint tenant's signature?

Vincent Gallo
Vincent Gallo
answered on May 9, 2020

Responding from a New York perspective, the answer is yes, and that breaches the joint tenancy and converts it to a tenancy in common.

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1 Answer | Asked in Real Estate Law for Massachusetts on
Q: Is a buyer in a legal binding contract if the offer they submitted was accepted with an added contingency by the seller?

Buyer put in a offer with 1000 down. The buyer chose to back out of the offer after it was signed. (Less than 48 hours after signed by seller) the seller wants to seek legal action for the 1000. The seller however when accepting the offer added in a contingency. Is the offer binding if the... View More

Vincent Gallo
Vincent Gallo
answered on Apr 28, 2020

No, that would be considered a counter offer that the purchaser me either accept or reject.

1 Answer | Asked in Real Estate Law for Nevada on
Q: Do I need to use a lawyer to change our deed from Tenants in Common to Joint tenants? I like in Clark cty NV
Vincent Gallo
Vincent Gallo
answered on Apr 27, 2020

Not if you know how to properly do it yourself.

2 Answers | Asked in Real Estate Law for New York on
Q: WHAT STEPS SHOULD I TAKE TO TAKE MY NAME OFF A MORTGAGE LOAN

My brother and I bought a one family house in Nassau county about 15 years ago.

About 10 years ago I sold my half to my brother.

The mortgage loan stay in my name.

My brother has been making the payments on time all these time.

Because of the coronavirus my brother... View More

Vincent Gallo
Vincent Gallo
answered on Apr 26, 2020

The only way I could see you doing it is by refinancing the mortgage and having your name removed from both mortgage and from the deed.

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1 Answer | Asked in Real Estate Law for Indiana on
Q: Do i have to have poa recorded on selling a house to have my wife as poa, or is notarized ok?
Vincent Gallo
Vincent Gallo
answered on Apr 25, 2020

Responding from the New York perspective, the power of attorney needs to be recorded simultaneously with the document which it pertains to.

1 Answer | Asked in Real Estate Law for Kentucky on
Q: Is it a requirement in Kentucky to have to close on a home within 6 weeks after signing a purchase contract?

We would prefer to wait 90 through 120 days. Is this possible? If so, how?

Vincent Gallo
Vincent Gallo
answered on Apr 21, 2020

I would suspect that the terms of the contract would govern when the closing will take place.

2 Answers | Asked in Estate Planning and Real Estate Law for Texas on
Q: My grandmother wants to gift me her house but in her written will, it goes 50/50 to my dad and uncle.

If she gifts me her home, will I still be the owner of the home even though her will states it goes to my dad and uncle?

Vincent Gallo
Vincent Gallo
answered on Apr 21, 2020

If she gives you the house now, there will be no house for her to leave to anyone else in her will.

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1 Answer | Asked in Real Estate Law for California on
Q: I didn't sell my contingency home due to covid 19. Do I have to refund my buyer's for their fees?
Vincent Gallo
Vincent Gallo
answered on Apr 21, 2020

That will all depend upon how the contract reads.

5 Answers | Asked in Contracts and Real Estate Law for New York on
Q: I’m a seller, we’re in contract (contingent on finding new home) however, due to the corona we can’t . Can we cancel?

I’m a seller, we are selling our home and have been in contract for a few months. We did receive a down payment. The contract is contingent on finding another home, however we have not been successful and the Corona pandemic has halted the search. We want to pull out of the deal and return the... View More

Vincent Gallo
Vincent Gallo
answered on Apr 15, 2020

If that is how your contract precisely reads, you should have the right and ability to cancel the transaction.

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3 Answers | Asked in Contracts and Real Estate Law for Texas on
Q: Mortgage Company allowed me to do a short sale. Who keeps excess proceeds from the short sale lender or borrower?

Also is it against the law to have the buyer payoff mortgage BPO Price ? And the excess proceeds be given to me by check from buyer ?

I'd like to have some money after being left homeless by Mortgage Company.

Vincent Gallo
Vincent Gallo
answered on Apr 14, 2020

A true short sale typically brings. Borrower to zero, with no money due and no money received.

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