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Credit crisis delaying home purchases
Changes in the housing market can change the nature of home-sale transactions. For instance, before the boom in the home-sale market that began in the second half of the 1990s, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) purchase agreement used by most California REALTORS® included a clause in which the seller warranted the condition of the property.
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Sellers wise to replace exterior door
Q: We are trying to replace a plain, solid-wood, paint-grade, eight-foot outside door on a home we are trying to sell. The old hinges are different from what's common today. I am not sure if this could be changed or not. Do you know what we should do? --Jim E.
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Will plan to avoid capital gains tax work?
DEAR BENNY: My 42-year-old son will move home next month. I am 65 and thinking of downsizing. I would like to place him on the deed when he moves in and after two years, sell my home. Since he is on the deed, will up to $500,000 be tax exempt? I know that there could be problems with this arrangement. Is this possible and what are the drawbacks with this arrangement? –Richard
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Foreclosures drying up flow of HOA fees
DEAR BENNY: I live in a 12-unit condominium complex. We self-manage. One of the units will probably be going into foreclosure in the very near future. What does the complex need to do to collect the monthly dues and yearly assessments once the unit is in foreclosure? –Sara
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Top ways to boost curb appeal
You've no doubt heard the term "curb appeal," which is the first impression that your home makes when a visitor arrives. Whether you have your home up for sale or just want things to look a little nicer when you or someone else pulls up out in front, the best place to start is by giving the front of your home a critical examination.
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Choosing the right weather stripping
Air infiltration -- the movement of outside air into and out of your home -- can account for a significant amount of heat loss, and the resulting air currents can make a home feel uncomfortably drafty. When it comes to air infiltration some of the most common culprits are exterior doors, so a few weekend hours devoted to some new weather stripping can have some pretty dramatic results.
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Mortgage approval is no easy task
It wasn't too long ago that home buyers made offers without financing contingencies and closed the deal in as short as 14 days following acceptance. Quick closes are virtually impossible today if you're buying a home with the aid of a mortgage. And, it's highly recommended to include loan and appraisal contingencies in your offer.
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