Why buying and selling a house could soon be as simple as trading stocks – MarketWatch

On a recent weeknight, Dahlia and Adam Brown came home to their spacious Colonial on a quiet cul-de-sac in Marietta, Ga. The Browns both work demanding jobs and have two young sons. They bought the house in June using Knock, a company that’s trying to revolutionize the real-estate industry with a “home trade-in platform” making it easier to buy and sell at once. That solution was ideal for the Browns, who are just as busy as most couples but more introverted, making the idea of prospective buyers tramping through their private space seem excruciating.  more…

read full article here: Why buying and selling a house could soon be as simple as trading stocks – MarketWatch

Understanding the home appraisal process (LoanDepot article)

Whether you’re selling your home or refinancing, one of the next essential steps will be to get a home appraisal. Initiated by the lender and usually paid for by the buyer, a home appraisal is essentially an expert’s opinion of what your home is worth. The appraisal assures the lender that the buyer, or borrower, is not overpaying for the home.

Source: Understanding the home appraisal process

What to Expect as an Executor or Trustee (Wells Fargo)

Being asked to serve as an executor or a trustee for a family member’s estate is certainly an honor, but it’s also a considerable responsibility.

Knowing and understanding your responsibilities — and asking the right questions — can help you be prepared. Here are five things you need to know now if you’ve been asked to serve as a family member’s executor or trustee.

Source: What to Expect as an Executor or Trustee

Pre-Paid Funeral Plans: Buyer Beware | Chambliss, Bahner & Stophel, P.C. – JDSupra

Funerals rank among the most expensive purchases many consumers will ever make. A traditional funeral costs about $7,000, although “extras” like flowers, obituary notices, acknowledgment cards and limousines can bring the total to well over $10,000. Moreover, people often “overspend” on a funeral or burial because they think of it as a reflection of their feelings for the deceased.

Source: Pre-Paid Funeral Plans: Buyer Beware | Chambliss, Bahner & Stophel, P.C. – JDSupra

Tax Treatment of Canceled Mortgage Debt (thebalance.com)

Mortgage debt may qualify to be excluded from income under the Mortgage Forgiveness Debt Relief Act. This law provides that certain types of canceled mortgage debt can be excluded from taxes. This exclusion is important for people whose homes have been foreclosed, or who sold their house short, or who restructured their mortgage.

Read the rest of the article here: Tax Treatment of Canceled Mortgage Debt

NYC The dreaded tenant blacklist: What you need to know (BrickUnderground)

To see if your name appears in a database, you can request a report from a company that provides tenant-screening data, such as CoreLogic, TransUnion or On-Site. Just give them a call. It generally costs $15-$20, but can run up to $50, a fee that many landlords pass on as part of the lease application fee.

Source: The dreaded tenant blacklist: What you need to know

LEGALZOOM:  Recordkeeping for LLCs — What Do You Need to Save?

You may have heard that limited liability companies, or LLCs, have fewer recordkeeping requirements than corporations. But if you have formed an LLC, you might now be wondering exactly what those requirements are. Your state’s LLC laws may list certain documents and information that LLCs must keep at their headquarters. But the documents you must keep vary by state, and some states don’t have any LLC recordkeeping requirements at all. Regardless of what your state’s laws say, there are certain documents that all LLCs should hang on to, as a matter of good business practice. Here are nine types of records every LLC should keep:

Source: Recordkeeping for LLCs — What Do You Need to Save?

HGAR LEGAL CORNER: I am Buying a Home and I Lost My Job, Now What? – Real Estate in Depth

The loss of employment can be one of the most stressful events in a person’s life. Purchasing a home, while it is a very exciting time, can also be an extremely stressful event. If one loses his or her job, however, while in contract to purchase a home it can certainly be devastating. A purchaser spends many years to save up enough of a downpayment to purchase a home and, in the end, could potentially forfeit his or her life savings upon the loss of his or her job after a mortgage commitment has been issued by a lender. Recent court decisions highlight the various issues and consequences that could exist when a purchaser loses his or her job, particularly after the lender has issued a mortgage commitment and the mortgage contingency under the contract of sale has been met.

Source: LEGAL CORNER: I am Buying a Home and I Lost My Job, Now What? – Real Estate in Depth

NYSBA | The Digital Footprint After Death:  WHO WEARS THE SHOES?

Email, Facebook, LinkedIn, Twitter, Instagram, Snapchat, Tumbler, online banking, online shopping, and other forms of electronic communications, comprise our digital footprint. They are seemingly ubiquitous and omnipresent in the life of our business, social, and personal affairs. But, on death, who has the right of access to a decedent’s digital footprint? More importantly, what is the scope of that access? Can a fiduciary figuratively step into the decedent’s shoes and gain full access to the decedent’s digital assets and electronic communications?

Source: NYSBA | The Digital Footprint After Death:

Home Prices Are Falling in One of America’s Richest Suburbs – Bloomberg

This has become a summer of discontent for those trying to sell their homes in New York City’s leafy suburbs — in no small part because of the Trump administration. In affluent enclaves in Westchester County, New Jersey and Connecticut, a federal cap on state and local property tax deductions has begun to bite hard. Longtime homeowners who dreamed of offloading their empty nests are finding their plans complicated by the tax bill, as would-be buyers hold back, expecting sellers to cut their prices. The i

Source: Home Prices Are Falling in One of America’s Richest Suburbs – Bloomberg