Arizona Real Estate Notebook

Bob Bruss PROFITS ON NEW CUSTOM HOMES ARE NOT GUARANTEED HOW DOES A REVERSE MORTGAGE WORK?

Bob Bruss PARTIAL TAX EXEMPTION FOR HOME SELLER PRICE, NOT UNITS, DETERMINES TAX-DEFERRED EXCHANGE

Bob Bruss

Bob Bruss UPSTAIRS CONDO OWNER’S NOISE IS A PRIVATE NUISANCE NEIGHBOR LIABLE FOR DIVERTING WATER ONTO LOWER PROPERTY HOW LONG BEFORE OWNER-OCCUPANT CAN CLAIM $250,000 TAX BREAK? IS “BED-AND-BREAKFAST INN” A GOOD REALTY INVESTMENT? WHAT IF CO-SIGNER DEFAULTS ON HOME MORTGAGE? IS A “YIELD SPREAD PREMIUM” LEGAL?

Bob Bruss DETERMINING BASIS IN PROPERTY GIFT FROM DEAD DONOR ISN’T EASY IS A BROKER “TRANSACTION FEE” LEGAL?

Bob Bruss CAN CONDO DIRECTORS HOLD AN INQUISITION OF NEW BUYERS? MUST HEIR WAIT TO TAKE TITLE UNTIL PROBATE IS COMPLETED?

Dian Hymer. In order to make sure you know that the sellers are contemplating reducing the price, ask your real estate agent to talk to the sellers’ agent and make sure that the sellers are made aware of your interest. Don’t be bashful about the fact that you are interested, but not at the current [...]

Bob Bruss, PROS AND CONS OF SELLING AN “AS IS” HOUSE HAPPY ENDING TO VETERAN’S RENTAL STORY CONFUSION ABOUT MEDIATION AND ARBITRATION DOES STEPPED-UP BASIS RULE APPLY TO LIVING TRUSTS?

Bob Bruss. ANOTHER DISADVANTAGE OF GIFTING A PROPERTY BEFORE DEATH MUST HOMEOWNER FORM A CORPORATION TO RENT A HOUSE?

This article from Bob Bruss is a year old so some things have changed but you may still be able to buy your next home for nothing down, especially if you are a Veteran or a first time home buyer within certain income guidelines. I don’t think this line is true anymore… especially the “gladly” [...]

Bob Bruss explains why he recommends taking a carry-back mortgage versus a land contract sale. – NO EASY WAY TO FORCE RELUCTANT REALTY INVESTOR TO SELL – TWO MARRIAGES, TWO HOUSES, FOUR KIDS CALL FOR AN ESTATE PLANNING ATTORNEY

Bob Bruss decodes real estate’s law of fixtures.

Bob Bruss. However, to qualify there must be a valid reason for the home sale after less than 24 months of owner-occupancy. The tax statute lists (1) health reasons, (2) job location change qualifying for the moving-cost tax deduction (the new job site must be 50 miles further from old home than was old job [...]

Bob Bruss explains it all.

Bob Bruss. – HOW TO GET RID OF CO-OWNERSHIP OF A HOUSE – HOW TO DETERMINE IF BUILDING PERMIT AND INSPECTION WAS OBTAINED

Bob Bruss. – YOUR “UNDERSTANDING” ABOUT WATER LEAKS DOESN’T MATTER – NO ADVERSE POSSESSION AGAINST GOVERNMENT, UTILITY OR RAILROAD

Bob Bruss. – CAN A PARTITION LAWSUIT APPLY TO JOINT-TENANCY PROPERTY? – MORTGAGE RELIEF ON A “SHORT SALE” IS TAXABLE [You will indeed be taxed on any mortgage relief you receive in a short sale. That fact is going to come back and bite a lot of people who thought they were finally through with [...]

Bob Bruss. – TRANSFER HOME-SALE LISTING INSTEAD OF CANCELING IT – IT’S BETTER TO INHERIT HOUSE THAN PUT NAME ON TITLE NOW – WHAT RECOURSE AGAINST WARRANTY COMPANY THAT WON’T PAY? – DON’T SIGN BUYER-AGENCY CONTRACT WITH AGENT YOU DON’T KNOW – AGE IS IRRELEVANT WHEN AVOIDING HOME-SALE TAX

Dian Hymer. There are always compromises to be made when buying a home. The perfect home doesn’t exist — not at any price. It takes some time to learn what the inventory in an area has to offer so that you can decide how you’ll be willing to compromise.

Bob Bruss DON’T CO-SIGN MORTGAGE FOR YOUR PARENTS [The question to Bob Bruss above refers to Arizona as I'll add a very important piece to the issue that applies to Arizona but not most other states. As I've mentioned before, in Arizona it's easy to prepare and record a "Beneficiary Deed" so that upon the [...]