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credit

Credit @ Closing From the Seller? “Thanks, But No Thanks”

Unpaid Property Taxes:  When Credits are Bad and Debits are Good Normally, credits (getting money) at closing is good, while paying money (debits) at closing is bad. When is that not the case? When the Buyer is getting a credit at closing from the Seller for the Seller’s pro rata share of the property taxes...
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Seller Liability for Buyer Neglect

Property Liens vs. Personal Debt Yesterday’s post discussed the aftermath of a home sale when the new owner is AWOL. Today’s discusses the former owner’s potential liability, post-closing, for any issues that result. First, a mea culpa:  while my visit to Hennepin County yesterday initially resulted in — shall we say — some “wheel spinning,”...
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Predatory Practices Persist

“Yeah, That Will Work” Department I’ve been on a (very) brief family vacation — Duluth water park and puppy scouting — and returned to lots of mail, mostly business-related and bills. Including one from a large bank where I have had a credit card account — and several other accounts — for almost a decade....
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Tighter Credit — For Realtors, Too

“Put it on my Marketing Account — Not” It’s not just borrowers getting pinched by tightening lending standards — Realtors are, too. For years, Edina Realty and other brokers have basically extended credit to their Realtors through company marketing accounts. Print ads, mailings, Web site and technology fees — all the day-to-day expenses Realtors typically...
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