Have a Real Estate Problem You'd Like Solved? Let Dick Dennis Help You Solve it . . . FAST!

* Is your home subject to foreclosure and you'd like to be able to come away with the least amount of damage to your credit?

* Or perhaps you want to convey a property title to a family member and you're not quite sure how it should be done.

* You have a property that you own free and clear of any mortgages. We can show you how to protect your title to that property so no one forges documents to take it away from you.

* You've had your home for sale with a real estate agent who has not performed as advertised. How can you get out of the listing you have with him/her?

Here are just a few testimonials of the many Dick has received. Notice the frequency of how people compliment his fast response to their questions . . . and the clarity of his answers.

* Amazingly fast response and answered the question directly. Very useful advice. Thank you again for your time and expertise. Your answers are very clear and easy to understand. Thank you -- Jim

* Thank you so much for your insightful answer - and the promptness with which you replied. I should be so prompt in saying Thanks ! -- Jay

* A complete and sensible answer -- VERY HELPFUL! -- Jean Gillette

* Thank you very much, Mr. Dennis. You were very helpful. Yours truly, Jack Patton Jr.

* Thanks for quick turn around and help in the matter. You seemed to know exactly what you were talking about. -- Suzanne

* Mr. Dennis, you were very thorough and provided excellent answers. Thank you. -- Lorena K

* Thank you so much for such a prompt and responsive answer to my question. -- J. Goodner

* I have asked around, and this was the best, and clearest answer to my problem. It directly told me what I needed to hear. Thank you very much, Dick, it saved us from some major hassles. Brian Baskin

* Very quick response. It was a three fold problem. 1. Protect family ownership from probate. 2. Give mother abilty to sell without my wife's involvement. 3. Minimize capital gains tax. (there is still more involved - may have to write you later) Thanks, Mike Bauer

* Dick, Thank you for the prompt reply and information sharing. You've brought up many good points and have pointed me in the right direction to start. Thanks so much! -- Scott

* Wonderfully stated, professional advice! Thanks, Dick. -- Didi

* A "thank you" to Mr. Dennis for the quickest response I've ever received on All Experts.com with great advise as well. -- Ann Robertson

* Quick, clear and pertinent response. Thank you!! -- Taum

* WOW! Awesome, complete, thoughtful, and must have taken a good portion of time. I really appreciated it! -- Paul










About Me

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Sun City, California, United States
The best part of being a real estate broker with so many years expertise is that I am able to help people with their real estate problems. • And as a real estate broker since 1971, there is very little I don't know about the subject. • However, since I was 13 my first love has been writing. Put me in front of a keyboard and It'll be difficult to be able to get me away from it. Also, all my life I've been aesthetic (artistically inclined). With that facility I am able to create newsletters. • On February 14, 2010, my wife, Barbara, and I will have been married 56 years!! That speaks for itself, right?

Saturday, December 26, 2009

Buying House from Mother: Should I Pay Cash For it?

Question: My mother is willing to sell her house to me, and I agreed to pay $40,000. She said a check for $15,000 would pay off the mortgage. Then she asked if I could pay her $500.00 monthly until the balance of $25,000 was paid.

I said I could do it but that ties up my money because I have to replace the garage that is falling apart and if anything comes up I'll be strapped for the cash. Should I just get a loan for $60,000, build my garage and pay her off? I'm trying to save money in closing costs and mortgage interest by just giving her the $40,000. If my job goes well, I should be able to write her a check for $40,000 by this summer 2010. What are your suggestions? Thanks -- Jason.

Answer: Well, if you don't want to wait, Jason, I would suggest you use your favorite lender to make your loan. However, be aware that the purchase price you paid for the house will leave a heavy impression on the bank. Hopefully, you have a house that would appraise for at least $75,000 because the lender is going to require you to have a 20% equity in the property if you are looking for a $60,000 loan, your credit has to be good and you have to have a good job. Be aware also that you will be paying borrowing and closing costs. I do wish you well.
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