This show originally aired November 14, 2009.
Listen to the Show Here!
What do I do if I purchased a property with a friend or family member and I want to sell my half of the property later? At this point you will need to talk with an attorney and discuss a Petition to Partition. Each party will lay out their interest for the property and the judge will determine what will happen with the property, including the interest each party will happen with the party. The judge can also appoint people to determine the appropriate price for the property. Having to go to this point can often cost quite a bit of money in legal fees, etc. Many time an estate plan for the property can help if you want to leave the property to more than one person. Details can be specified including easement issues so that many things can be avoided later.
What is happening in the Tulsa luxury market? Numbers are up from last quarter and sales are increasing. The luxury market is generally starting at $500,000. There are 108 properties on the market over $1 million. If you are selling a property in the luxury market, make sure your house is ready to sell. Select an agent that knows house to sell a luxury property and knows the market in your area. The condition and price of the property make a huge difference. All the marketing in the world will not overcome a home in poor condition or high price.
To buy or sell a luxury property in the Tulsa, OK. area contact The Tulsa Luxury Property Group at www.tulsaluxurypropertygroup.com.
Are structures detached from your home still covered on your homeowner’s insurance? A homeownwer’s policy is called a package because it covers more than just your home. On average about 10% of your property value will go towards other structures. That could be a big toy in the back yard, pool, storage shed. Anything that is not attached to the house or its foundation.
If you have questions about proper coverage for detached structures on your property, contact Mike Tedford of Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com.