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Lewes, Delaware
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January 25, 2010     Cape Gazette
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January 25, 2010
 

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m , Cape Gazette BUSINESS &REAL ESTATE FRIDAY, JANUARY 22 - MONDAY, JANUARY 25, 2010 37 Senior citizen seeks help tmloading timeshares ing salescontracts signed by. qualified repeat buyers between April 30 and Nov. 9, 2009. Any contract signed within those dates has until June 30, 2010 to close. Dear Mrs. Lank: My lady friend and I own three timeshares in Pompano Beach, Fla., and Las Vegas. I'm 79, and we've decided. to sell all three. We have been scammed in the past by giving money to two listing companies who just put them on the internet. We never heard from them again. My lawyer said I'm making a mistake putting money up front. I always thought they would need that money to print literature about my property to sell it. We almost paid a company $900 each to take them off our hands. They said our heirs would inherit them and be liable for mainte- nance fees and taxes. Any ideas would be much appreciated. - C.H&. and CaVLC. " Dear C.H.L and C.M.C.; If you are willing to just give up your timeshares, contact the manage- ments and ask if they'll take them. Then call Realtors in those towns to see if they'd mar- ket them for a nominal price and 95 percent commission. Or con- sult your grandchildren about how to offer your weeks for free on Craigslist. Your lawyer is right; it's no use paying anyone up front. And I'm sure the attorney would explain that your kids could re- fuse an inheritance. Finally, ask the lawyer what's likely to hap- pen if you just stop paying the annual charges. Often, there's no bad consequence to you. Date of closing Dear Ms, Lank: My question pertfiins to the new and existing home-buyer credit. We pur- chased our current home in Sep- tember 2008, after owning a home in another state for the pre- vious 12 years. Do we qualify for the credits offered by the govern- ment? Information regarding this is confusing and very vague at times. - LA. Dear LA.- The date of your purchase means you wouldn't qualify for the $6,500 repeat- buyer tax credit. The credit is available for purchases or bind- About an auction Ms. Lank: You answered a per- son who wanted to know about setting up a rattle for his home. Of course, you advised against this. What about an auction? I "don't know anything about cost, etc., but I do know some people have done auctions. - M2VL Dear M,M.: In some areas, par- ticularly rural locations, real es- tate auctions work well. You'd want to engage a licensed com- pany that has fmancing arrange- ments set up in advance and can investigate would-be buyers' qualifications. It takes know- how to publicize an auction, to set a reserve price and to gather a crowd and the like. I don't think it would work for a do-it, yourself amateur. Would not have bought Dear Edith: My wife and I re- cently purchased our first home. Once we moved in, we discovered a strong odor in the laundry room. We found a rat infestation and learned that a possum had been living in the walls of the heater. We had a company pro- fessionally remove the insulation from the attic and try to sanitize the laundry room, but the odor has not gone away. If we had known about this problem, we certainly would not have pur- chased this home. It has taken our first home purchase from a dream to a nightmare very quick- ly. - email Answer. When you say "we never would have bought if we'd known," you are stating an exact legal requirement for voiding the whole purchase and giving the house back. But you'd have to prove that the seller knew about the problem and deliber- ately failed to disclose it. Maybe the neighbors had heard about it? I can't judge, of course, if you'd prevail in a lawsuit. You need to discuss the whole matter with a real estate attor- ney, who will ask what you're looking for. Do you want to move out? Stay but be reim- bursed for what you spent try- ing to cure the problem or what- Let me know what happens; I'm interested. 1RYAN CLASS  BAYSIDE  302-236-9037 H 0 M IE S L LC [ WWW.a'YS,OEHOMESA',,.CO,. 'lka89 OIclel   302-645-2030 Dr'Bec'hSUlte 6. BAYSIDE HOMES Have land, Iookin9 for a beach home, reptacinq an older mobile??? We have the largest selection of floor plans at the Beach for Manufactured and Modular Homes Single wides, Double wides, Ranch, cape Cods, 2 Stows. With over 30 years of experience in Sussex County and the beaches. Call today for a free consultation for the true "Turn Key" experience. Who makes the repair? Dear Edith: A bank-owned fore- closure I want to purchase has an unacceable sewage systerr:iand the ba=needs me to repair sys. tem to the tune of $8,0OO-plus before they deem the home sell- able. They said they could add the cost to my mortgage. Am I supposed to repair this, or is the bank responsible? - J. Dear J.V. It's risky investing $8,000 in a property you don't own. In a normal situation, the sell- er/owner would make the re- quired repair. Forget what the bank verbalizes. I'd want binding written con- tracts before doing anything. I'd get myself a lawyer, preferably one who specializes in real es- tate. Edith Lank will personally respond to any questions sent to her at 240 Hemingway Drive, Rochester, NY 14620. Include a stamped return envelope. Readers may also email her at ehlank@aol.com or visit her website: askedith.cern. Thinking Honda? Come to Price! JUST ARRIVED! dP All New 2010 Honda Accord Crosstour All New 2010 Honda Civic VP $69 per month, for 24 month lease.* $3,347.31 down, cash, or trade* *Offer expires 2/1/2010. Additional $595 acquisition fee, taxes and tags due at signing. First payment due at deliveo. Security deposit waived. 2010 Civic VP 4-Door, Automatic Transmission (Model FA I F3AEW). Residual $I 1,823.90. Cap Cost: $I 3,126.69. Lease is for 24 months at 12,000 miles per year. Requires approval as an AHFC Super Preferred Credit Customer. All New 2010 Honda Accord LX W  AUTOMOTIVE GROUP @HOI00IDA 1.800.296.4220 pricehonda.com 4585 S. DuPont Hwy. (Rte. 13) Dover, DE 19901 $99 per month, for 24 month lease.* $3,747.67 down, cash, or trade* *Offer expires 2/1/2010. Additional $595 acquisition fee, taxes and tags due at signing. First payment due at derivers. ecurity deposit waived. 2010 Accord LX 4-Door, 4-Cyl. Automatic Transmission (Model CP2F3AEW). Residual $14,892.90. Cap Cos-L" $16,281.33. Lease is for 24 months at 12,000 miles per year. Requires approval as an AHFC Super Preferred Credit Customer. All New 2010 Honda Insight LX S139 per month, for 24 month lease.* $3,364.92 down, cash, or trade* *Offer expires 2/1/2010. Additional $595 acquisition fee, taxes and tags due at signing. First payment due at delivery. Security deposit waived. 2010 Insight LX Continuously Variable Transmission (Model ZE2H5AEW). Residual $13,946.80. Cap Cost: $16,774.08. Lease is for 24 months at 12,000 miles per year. Requires approval as an AHFC Super Preferred Credit Customer.