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73101 : Real Estate Advice

  • All6
  • Local Info0
  • Home Buying4
  • Home Selling1
  • Market Conditions0

Activity 6
Johnathan Le…, Renter in Moore, OK
Fri Jul 29, 2016
Johnathan Leeper asked:
Josh Barnett, Real Estate Pro in Chandler, OK
Sat Oct 10, 2015
Josh Barnett answered:
Yes, fix the bathroom. Read the book Zillow talk and it discusses as is pricing verse updating and selling.
0 votes 2 answers Share Flag
Josh Barnett, Real Estate Pro in Chandler, OK
Sun Mar 22, 2015
Josh Barnett answered:
Where is this issue at right now?
0 votes 12 answers Share Flag
Joseph Scroc…, Real Estate Pro in Wildwood, NJ
Thu May 30, 2013
Joseph Scrocca answered:
OK here you are getting the benefit of my decades of practice as a tax accountant, mortgage broker and real estate sales person.

First, distributions from a trust are not taxable to the beneficiaries as long as the trust has paid tax on the income prior to distribution. Trusts can either pay out the trust income and let the beneficiaries pay the tax or the trust can pay the tax. So, no tax document is required from the trust to the beneficiary as long as the trust paid the income taxes on the money distributed to the trustee. You have 3 years of bank statement showing the receipt of this money. That along with a letter from the trustee confirming the start date, regular amounts/frequency of the payments and confirming that the payments will continue for at least 3 years will suffice.

This is a case of a loan officer, processor and underwriter not having a clue as to how to handle your wife's income. Good luck.
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0 votes 6 answers Share Flag
Russell Bens…, Real Estate Pro in Oklahoma City, OK
Fri May 3, 2013
Russell Benson answered:
Maybe but that doesn't stop some from being pushy about it. It amazes me how long the MLS has been around but there are many that don't understand how it works but it is getting better. As a licensed Oklahoma agent, I can actually write a contract on any home in the state although it wouldn't make sense to go hours out of my area when I can just refer my client to a local and more knowledgeable agent.

Russell Benson, REALTOR®
Prudential Alliance Realty
... more
0 votes 14 answers Share Flag
Russell Bens…, Real Estate Pro in Oklahoma City, OK
Sat Apr 20, 2013
Russell Benson answered:
I just wanted to add that if your contract was on the State approved forms, then you can request the broker file an Interpleader which is a court action where a judge will determine who gets the earnest money back. If you feel you are in the right, then don't give up your $$ without a fight. ... more
0 votes 7 answers Share Flag
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