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it was purchased for $33,000 and is selling for $420,000. In February of this year, she purchased a condo with my husband and I for $410,000. Her name is on the loan but it wasn't on the title. So we did a Quit Claim Deed to put her name on the title. She will be living in the condo by... View More 
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answered on Nov 1, 2019
There USED to be a rule allowing taxpayers to defer capital gain on the sale of a house by purchasing a more expensive house within two years. That rule was repealed in 1997. So the purchase of the condo makes no difference.
The new rule allows single taxpayers to permanently avoid paying... View More
I took a HELOC loan on my other property to pay this property off per our agreement after I paid the property off my parents are now getting a divorce and my mother agrees to the the agreement we had and is willing to sign over the property of to me but my father is not. We had an oral agreement... View More
answered on Oct 30, 2019
You may have some rights and remedies. I recommend that you contact an attorney to discuss the exact facts, agreements, evidence, willingness of Mom to cooperate, etc. Then you'll be able to make a decision about how to move forward in demanding your property.
Contract for vacant building lot specified a Land Plat Survey and seller provided a Improvement Location Certificate. The ILC specifically says it is only for Title co. and is not to be relied on for establishment of fence, building or other future improvement lines. Spoke with Surveyor who... View More
answered on Oct 16, 2019
Is a Land Plat Survey today valuable to defend encroachment claims in the future? Not likely.
Is a Land Plat Survey more valuable to a buyer than an ILC? Yes
She is stating the the floors are not level. At first their claim was we finished the basement with non floating walls, but when they found out that the basement was already finished, they are now stating well it must be something we did upstairs.
answered on Oct 15, 2019
You should consult an attorney to assist you in defending yourself against these claims. There are likely other facts that need to be discussed but it is possible that you could make a claim against the Plaintiff for attorney fees to defend yourself against this lawsuit.
I live in Colorado and when my wife and I did the final walkthrough of our new home, they showed us the property lines and the builder also already installed the front yard landscaping to make it easier to see which was roughly 9+ ft off of the right side of the house. However, yesterday when I... View More
answered on Oct 15, 2019
The ultimate issue here is who is correctly identifying the property line, the builder or the new claim? And, if the builder was wrong do you have a claim against him or against your title insurance?
You should bring your facts and evidence to an attorney to review, he may be able to... View More
answered on Oct 1, 2019
Withholding rent is always a risky maneuver. May you have a right to claim a Warranty of Habitability issue or a constructive eviction as a result of the flooding? Yes - you may but I recommend that you consult with an attorney about the facts and your possible courses of action before you... View More
It's our primary residence and my husband (age 64) is the sole owner/mortgage holder.
answered on Sep 17, 2019
Can a creditor foreclose on your home to satisfy a Lien? Yes. But, you will have an opportunity to prevent the foreclosure and it is seldom financially feasible to foreclose to collect on a debt that small.
Have you considered BK to eliminate the debt?
Our original move in date was July 15, then August 15, August 25, now October 1st. He didn’t even start the foundation clearing until August 25th, it’s not been touched since then. The house is complete (modular) and off site, waiting on the site to be complete.
He is paying for a... View More
answered on Sep 6, 2019
Dear Delayed Home Builder: Your question speaks of the phenomenon happening in CO (and other states) whereby the construction industry is "spread thin". I don't mention this to rebuke or to offer excuses for the Contractor, but delayed projects are a sig of the times. You have a... View More
As a seller with cold feet can I use this to somehow to get out of the home purchase contract unscathed? Here is the relevant text:"New Loan Review. If Buyer is to pay all or part of the Purchase Price with a New Loan, this Contract is conditional upon Buyer determining, in Buyer’s sole... View More
answered on Sep 3, 2019
From the language it doesn’t appear that you have a right to terminate the contract.
My brother and I have been joint tenants on the title to my mom's home for years. She died and we sold the house. Are we obligated to provide the requested accounting to the rest of our siblings who are wanting more money. My mom's will asked that the home be sold and the money split... View More
answered on Sep 3, 2019
Are you the Personal Representative for Mom's Estate? Is the home that was sold an asset of the estate? If the answer to those questions is Yes and Yes, then you have an obligation to provide an accounting.
It sounds like this could be messy and I recommend that you contact an... View More
In Wisconsin it used to be 3. We heard 10 in Colorado. Now someone said 25 days???
Who gets the earnest money? Is it legal for the Broker to take half?
answered on Sep 2, 2019
Once the contract is signed the contract is binding, i.e. there is no 3 day right of rescission.
However, the Colo Real Estate Commission's form contract is very buyer friendly and provides several opportunities for the Buyer to terminate the contact, at Buyer's sole subjective... View More
The owner of the land owes me large sum of money and he is willing to sign voluntary lien to satisfy his debt to me. Can an attorney be retained to help me with this situation? The land is paid in full has no mortgage.
answered on Sep 2, 2019
Yes, an attorney can help you to draft and record this lien.
I recommend that you get an attorney to help you if this is how you wish to secure your loan.
Buyer is FHA. The contract does not allow me to back out this late - I guess I need to know the odds that they'd really sue me for specific performance.
answered on Sep 1, 2019
Do you have a legal right to terminate the contract? Not likely.
But, if you pay the Buyer's expenses you may reduce the likelihood that he will sue you for his damages.
Unless you have a contractual right to terminate, you should attempt to negotiate a mutual termination.
I own a home and am currently making all my payments on time. My goal has been to remodel it and sell it. I have since found I do not have the time to do so. I found a real estate investment group whom are interested in doing a "subject to" agreement to take over payments, fix it up,... View More
answered on Aug 31, 2019
You should contact and attorney to review the proposed contract with you before you sign it.
Generally, a Subject Too deal means that you sell the property (they own it) but they don't replace your mortgage so the mortgage stays in your name. The Seller essentially carries all of the... View More
The total dollar amount is $8,000.00.
My home inspector came back with a list of problems. I asked the buyer to remedy the problems or reduce the price, so I could take care of them. The owner claimed the home inspector was wrong and refused to correct the problems. I told him that I... View More
answered on Aug 26, 2019
The Colo Real Estate Commission Form Contract requires the parties to initiate mediation to resolve disputes such as this.
You can call the Colorado Assoc of REALTORS and ask for a list of mediators from which you and the seller can select a mediator which is agreeable to both of you.... View More
answered on Aug 24, 2019
If your property is landlocked you should contact an attorney to help you force the granting of an access easement.
Are there other house-related forms or reporting duties I may not be aware of for Colorado? I already filed a trust registration statement with the district court.
answered on Aug 21, 2019
At a minimum, you should update the mailing address on file with the county assessor's office, assuming address to which you would like tax statements mailed has changed since your mother died. If the trust document states that title to the house must be transferred out of the trust you will... View More
How much time we have to give our landlord before we can move out? Our lease says nothing about what happens at the end of the lease or if it expires. It also says nothing about a set amount of time we need to give her before we move out. It’s very barebones it seems.
answered on Aug 21, 2019
Assuming your rent was due every month (e.g., on the first day of each month) you would have a month-to-month tenancy following the expiration of the agreed upon lease term. Because nothing is mentioned in your lease regarding notice, the default rule is that you may terminate your tenancy by... View More
answered on Aug 20, 2019
Your Property Manager cannot represent you in Court. But, you could bring the case against your former tenant. Or you can hire an attorney to bring that case.
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