Search found 21 matches

by BillyK
Tue Oct 22, 2019 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: Homebuyer wants me to do a 1031 exchange. Um, what?
Replies: 81
Views: 8478

Re: Homebuyer wants me to do a 1031 exchange. Um, what?

hand wrote: Overall fines were shockingly low considering typical realtor fees. Fines are usually the least of the problem for a licensee that has their licenses suspended or revoked. It similar to losing a driver's license for a DUI. If their license is suspended for an extended period of time suc...
by BillyK
Sun Oct 20, 2019 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: What documents do I need to prove I own my house?
Replies: 18
Views: 2961

Re: What documents do I need to prove I own my house?

Also keep a copy of your title insurance policy. Oddly I can’t locate my title insurance policy (and my attorney doesn’t have it) so I’m trying to figure out who the insurer was and how to get a copy... Your closing statement (HUD-1) should reflect the insurer since it would reflect your payment fo...
by BillyK
Sat Oct 19, 2019 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Homebuyer wants me to do a 1031 exchange. Um, what?
Replies: 81
Views: 8478

Re: Homebuyer wants me to do a 1031 exchange. Um, what?

Student wrote - Why is it not prudent for the seller to talk to his/her attorney? He/she can only be sure that his/her attorney (not the realtors) is there to protect his/her interests A common misperception that I have seen on Bogleheads through the years. A licensed real estate agent or broker th...
by BillyK
Fri Oct 18, 2019 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Homebuyer wants me to do a 1031 exchange. Um, what?
Replies: 81
Views: 8478

Re: Homebuyer wants me to do a 1031 exchange. Um, what?

The only thing to worry about is that your agent is unfamiliar with a 1031 exchange. They are very common and should not cause you concern once someone clearly explains it to you. Usually, you have a solid buyer and they are also under the gun to purchase like kind replacement property or properties...
by BillyK
Sun Oct 13, 2019 10:25 pm
Forum: Investing - Theory, News & General
Topic: Vanguard: the case for global equity investing
Replies: 160
Views: 12210

Re: Vanguard: the case for global equity investing

I think there are a lot of fuzzy memories when it comes to 1980's Japan today. I started investing in my twenties which was during the mid 1980s. As an inexperienced investor I was pumping as much of my limited money as I could into the Pacific Rim as well as a specific Japan only country fund. It w...
by BillyK
Sun Oct 13, 2019 11:45 am
Forum: Personal Consumer Issues
Topic: Extended Stay in Las Vegas - nearby hiking?
Replies: 10
Views: 852

Re: Extended Stay in Las Vegas - nearby hiking?

The River Mountain Loop Trail near Lake Mead is a 34 long paved trail. Then there are non paved trails along it. There are a lot of different places to park along its way. It is part of the Lake Mead recreational area. There are great views of Lake Mead and In some locations you can still see the La...
by BillyK
Sat Oct 12, 2019 1:38 am
Forum: Personal Finance (Not Investing)
Topic: Seller misrepresented fulfillment of defect fixes - next steps? sue?
Replies: 55
Views: 5042

Re: Seller misrepresented fulfillment of defect fixes - next steps? sue?

The seller represented to you that their unlicensed, unqualified son performed the work prior to your closing. The seller’s agent is very limited in their legal obligations to you. Was your agent actually your agent, meaning representing you as a client in a fiduciary relationship? If yes, unless th...
by BillyK
Wed Oct 09, 2019 12:57 am
Forum: Personal Investments
Topic: What should I do about employer / industry risk in tech?
Replies: 36
Views: 3133

Re: What should I do about employer / industry risk in tech?

The tech sector is broad with many financially strong companies. If tech takes a downturn, they are not all going to behave the same. IBM has weathered more than a few storms since its inception in the 1880s. Tech companies such as Microsoft, Apple and other have large amounts of cash and will weath...
by BillyK
Tue Oct 08, 2019 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Does title insurance cover unpaid HOA type fees?
Replies: 14
Views: 1383

Re: Does title insurance cover unpaid HOA type fees?

This is a conversation that should be had with the title company. Their attorneys will know exactly the specific laws pertaining to this item. Then they will specifically tell you if anything needs to be done to cure it. Ultimately, the title company and their underwriter are the ones that will need...
by BillyK
Tue Sep 24, 2019 11:08 pm
Forum: Personal Investments
Topic: New job 401K rollover & investments
Replies: 9
Views: 536

Re: New job 401K rollover & investments

Whenever I leave a job, I always look at it as a positive that I can roll out out of the old company’s 401k into my Vanguard IRA account. I have never had a job with a 401k that comes close to matching Vanguard’s low expenses. If you haven’t already, you may want to check out opening an IRA at Vangu...
by BillyK
Thu Aug 29, 2019 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Should we let go of our Realtor and get a Real Estate Attorney?
Replies: 82
Views: 4392

Re: Should we let go of our Realtor and get a Real Estate Attorney?

Most real estate attorneys are not real estate licensees. Depending on your state, you will need one that is actively licensed as a real estate broker in order to legally contact the seller directly. Otherwise, it is considered practicing real estate without a license. Preparing real estate contract...
by BillyK
Mon Aug 12, 2019 9:04 pm
Forum: Personal Consumer Issues
Topic: My mortgagor wants to sell a slice of the land. Thoughts?
Replies: 97
Views: 6641

Re: My mortgagor wants to sell a slice of the land. Thoughts?

Almost all standard liens/notes for real estate have due on sale/acceleration clauses. I imagine the OP’s likely does too.The sale of any part of the property will trigger it, so it won’t just create a cloud on title. Larger tracts such as owned by developers will include special language for granti...
by BillyK
Sun Mar 24, 2019 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Paper I Bonds
Replies: 35
Views: 2492

Re: Paper I Bonds

I always convert mine to electronic via Treasury Direct for simplicity, safety and easy tracking. My experiences with Treasury Direct have always been positive. The few times through the years that I have ever contacted them by telephone or email through the years they have always been extremely hel...
by BillyK
Sat Aug 04, 2018 3:16 am
Forum: Personal Consumer Issues
Topic: Should I roast my own coffee?
Replies: 43
Views: 3145

Re: Should I roast my own coffee?

I have been roasting coffee beans for 20+ years. What a lot of people don’t realize is that roasting coffee creates smoke that may set off your indoor smoke detectors which I have done more than several times. Plus, it then leaves a lingering smokey smell in your home for days. A lot of hardcore hom...
by BillyK
Sat Jun 30, 2018 12:30 am
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1532

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

You may be looking at the wrong clause in the deed of trust. The release clause is for her to release it while she is alive, such as if you pay the note off in full to her. You should be looking at the successor and or assigns clause, which should include language similar to the note that it termina...
by BillyK
Thu Jun 07, 2018 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Adding my name to deed (parents house)
Replies: 22
Views: 1920

Re: Adding my name to deed (parents house)

Most loans have Due on Sale clauses that can be triggered by transferring any percentage interest in the property. You need to review the loan and/or speak with the lender, since otherwise it could accelerate the loan coming due.
by BillyK
Mon May 14, 2018 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Am I working with the wrong realtor?
Replies: 22
Views: 3074

Re: Am I working with the wrong realtor?

Once there is a pending contract, it is usually between the seller and listing Realtor whether they will take backup contracts. If it is a solid buyer, it would in all likelihood be a waste of your time to submit a backup offer since it is unlikely the agreement will fall apart. If it is a shaky agr...
by BillyK
Sat Mar 31, 2018 4:34 pm
Forum: Personal Consumer Issues
Topic: Does agent get paid if property taken by eminent domain?
Replies: 13
Views: 2676

Re: Does agent get paid if property taken by eminent domain?

I have been a right of way agent for +25 years, and I have never seen or heard of a real estate broker receiving compensation for a property acquired by a condemnor under the threat of condemnation on which an active listing existed. I have acquired many parcels through the years in numerous states ...
by BillyK
Thu Feb 01, 2018 1:09 am
Forum: Personal Consumer Issues
Topic: New or used vehicle for new graduate with job?
Replies: 31
Views: 1896

Re: New or used vehicle for new graduate with job?

He needs to know whether he will be driving a company vehicle or his own on the projects, and the types of projects that he will be working. I have worked for many years on both highway and transmission line projects throughout the country. Nearly everyone including the engineers drives pickup truck...