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Buy and Bail Dear Edith: I will try to make this short. I bought my condo in 2006. My mortgage rate becomes adjustable in 2011. I am upside down $85,000, originally bought for $435,000, worth $350,000 now. I have no problem with the payments now, but I fear when …Read more. Agent Still Showing Ms. Lank: We have accepted an offer on our home, but our agent wants us to continue to show our house. So, does that mean we can accept another offer if a higher bid comes in? — T.C. Answer: Your agent knows some deals fall through and is …Read more. Taking Over Payments Dear Edith: We are looking to take over payments on a home. The owner just wants out from under. We will have the option to buy in one to three years. What do I need to do to make this legal for my protection as well as the owner? — J. Answer: …Read more. Do They Qualify? Edith: Are we required to pay 28 percent capital gains taxes on a house we are selling? The house was signed over to my wife and me in 2004 from my mother who is in a nursing home. The tax laws are so confusing that I am having trouble trying to …Read more.
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Legal Signatures

Ms. Lank: The buyer has agreed to my terms to a counter, but we only have talked via e-mail. I have not sent his Realtor the signed contract. Am I still obligated by law to go through with the sell? Are we bound by what we e-mailed? — L.G.

Answer: I don't know what would happen if you ended up in a dispute. The rule has always been that in the sale of real estate, nothing counts unless it's in writing and signed. Some courts have held that e-mailed signatures are binding, and some people, while negotiating online, will add a statement that "nothing in this e-mail is to be regarded as a signature," unless they specifically want it to be considered binding.

I'll publish your question and we'll see what other readers — preferably lawyers — have to say on the subject. Meanwhile, your best bet is to consult your own lawyer.

PERSONAL PROPERTY OR NOT

Dear Edith: Is a cabinet that is placed in a corner, and floor pedestal and trim built so that it looks built in, but not actually attached, considered part of the real estate? It is removable, but the floor trim is attached to the wood floor. It will require some carpentry work and redoing of electric cording attached to the floor trim in order to return corner to its original state.

The sellers contend it isn't built in and are taking the cabinet with them. The buyers are livid. Do they have any recourse? — J.P.

Answer: I was ready to say this sounded like furniture and the sellers have a right to remove it, until I hit that attached trim and electric connection. Now I simply don't know. There's always small claims court where they can get a judge's opinion.

Buyer and seller are always under stress before the closing, and they sometimes dig in on relatively unimportant items. I remember one seller who was furious when she realized she'd signed a commitment to leave the drapes. "OK," she said, "but I'm going to take the curtain hooks!" And she went to all the trouble of doing just that.

ARE THEY BOUND?

Dear Edith: We accepted the buyer's offer and signed a sales agreement on our home on Aug.

30. However, the requested settlement date was too soon, so we changed it to November. The buyers still have not agreed to the changed settlement date. It has been two weeks since we signed the agreement. What is a reasonable amount of time to wait, and can we back out of the deal and put our house back on the market? — E.W.H.

Answer: You didn't accept that offer. When you made a change, you were making a counter-offer to the buyers. Usually, you include a statement that the counter-offer is good for only a few days and will expire if not answered. If you had such a clause, and haven't received a response in the specified time, you're not bound. The buyers couldn't come back now and hold you to anything.

If your counter-offer didn't contain an expiration date, consult a real-estate lawyer about where you stand.

GETTING RID OF TENEANT

Dear Edith: How can I get rid of my tenant who is such a headache for us, constantly complaining of every little thing and costing us a lot of money? — e-mail

Answer: If the tenants don't have a lease, give them written notice to leave. You don't have to give a reason. In many places, that must be done at least one full month before the rent is due, but you'd better find out just what the rule is in your area.

If they have a lease, read it to see if they've done anything to violate it. If so, contact a lawyer, go to court and have them evicted.

HELP THREE WAYS

Dear Edith: My fiancee and I are looking to buy a home. She has very little credit and I have less than perfect credit. However, my income is almost double hers. Do you have any suggestions for us? — J.

Answer: You need help three different ways. First, a mortgage broker can analyze your financial situation to see if you'll qualify for a mortgage loan, for how much and where. Then a real estate broker can help you find the right property. And finally, a lawyer can draw up an agreement to head off problems that sometimes arise when a not-yet-married couple takes on co-ownership.

I usually try to hold "consult a lawyer" advice to no more than once per column, but I see it crept in four times this week!

Edith Lank will respond personally to any questions sent to her at 240 Hemingway Drive, Rochester, NY 14620 (please include a stamped return envelope), or readers may e-mail her at ehlank@aol.com.

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