Real Estate Financing
Is buying a property tax lien always a ‘win-win’ bet?
Question: Our son recently graduated from college with a finance degree. He is convinced that the way to make a fortune is to buy property tax liens for ‘pennies on the dollar’ at the auctions by the treasurer’s office for delinquent property taxes, held every year in February. Our son says that if, after at…
Read MoreTransferred Military Personnel Having To Pay Delinquent Rent
Question: In a recent column you said that a serviceman being transferred to the Presidio base in San Francisco would be required under Arizona law to pay two weeks’ delinquent rent on their West Phoenix home. My understanding is that under federal law all military personnel have protection from payment of delinquent rent. For example,…
Read MoreAmendments to Contract Require Consideration
Question: Under our January 15 contract with our homebuilder for construction of a new home in Buckeye, we had a closing date of October 15. A month later the homebuilder’s sales agent emailed us that the home should be completed by September 1. In reliance on her email, we “locked in” an interest rate for…
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