There are ways to thank your agent when sale never finalizes
Q. We are moving to a rural area in another state. Last summer, we looked at houses there with a Realtor. She spent time with us and was very helpful and obliging, even with our uncertain timeline and limited budget. Now we have decided to build on family land down there instead. It seems a shame she spent so much time and effort for us for nothing. Can you suggest something we could do for her?
A. How about a gift certificate to a fancy restaurant? A handwritten letter of appreciation will also be welcome and may end up posted on the office bulletin board. Mention that once you live in the area, you may be in a position to recommend her excellent service to friends and family.
Q.I bought my house about two years ago. I financially couldn't afford the house on my own, so I had a gentleman cosign on the loan. But now we are not together. If I decide to sell my house, do I need his approval? Does he also need to sign the paperwork to list the house?
A. Being an owner of the house and promising to repay the mortgage loan are two different things. Evidently, your ex-friend did sign on the mortgage. But that doesn't tell me whether he is named in the deed as a part owner.
You can find out by looking at your deed. If you don't have that document, you can see it, or get a copy, from your county clerk's public records office. And if it turns out that he is indeed a co-owner, then yes, you'll need his signature to market the property and eventually to sign off on a new deed.
Q.Is there any way to get out of a home-equity loan? When I got the loan, my land taxes weren't paid. My husband was in an accident and hasn't been able to work. I called the bank to see if I could lower my payment. Three weeks later, the loan officer said they couldn't do anything because my land taxes aren't paid. What can I do?
A. Better try hard to pay those property taxes, or you are likely to lose your home in a tax foreclosure sale. If that happened, the bank would be left with no security for its mortgage loan. Regulations are much stricter nowadays, and lenders aren't making exceptions as they might have done in the past.
Q. We have lived in our home for 10 years now. By the end of the year, we are selling it and relocating to another state. If we move and buy a house while our present home is still on the market, how long will we have to sell our home to avoid the capital gains tax?