Petition to Partition

Many times, people will purchase a property with a friend or family member, only to find that years later a strain happens in the relationship and one or both parties want to sell their share in the property. That in itself is not a big problem unless the parties disagree about what should happen with the property. When a disagreement happens that can't be resolved, each party will need to seek an attorney. Usually, it will end up before a judge. 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 have with the property. The judge can also appoint appraisers to determine the property value. Getting to this point will usually cost quite a bit of money in legal fees. To avoid this type of situation, contact an attorney to discuss plans before a contract is signed.

If you have questions regarding a Petition to Partition or other legal issues, contact David Keesling with Richardson, Richardson, Boudreaux at 492-7674 or www.rrblawok.com.

For all your Tulsa, OK. area real estate needs contact Darryl Baskin, McGraw Realtors, 918-258-2600 or www.darrylbaskin.com.

Homebuyer's Tax Credit Extended

The $8000 tax credit for first time home buyer's has been extended. Originally, the tax credit was only offered until November 30, 2009. The new tax credit extension enables home buyers under contract by April 30, 2010 to use the tax credit. The extension also allows for a $6500 tax credit for home buyers who have owned a home and lived in it for 5 years. In addition, home buyers have an additional 60 days to close the sale. For more information on the tax credit extension, contact Jeff Sargent at ONB Mortgage at 918-392-6572 or jeff_sargent@onbbank.com.

For your Tulsa, OK. area real estate needs, contact The Baskin Real Estate Specialists at 918-258-2600 or www.darrylbaskin.com.

Month's Supply of Inventory - Same data parameters as reported in newspaper but more current.

Month's Supply of Inventory trending down.

Why Do I Need a Survey When I Build a New Home or Addition?

When you decide to build an addition or a new home, you will need a survey. A survey shows where the property lines are as well as any buildings, easements, driveways, or encroachments on the property, such as a neighbor's driveway. You might say, "I don't need a survey. I have a plat map". A plat map only shows the property boundaries. It doesn't show easements or encroachments which can cause a problem with a legal title. A survey will ensure that anything you are building is not on someoone else's property or easement. It will also help if you have acreage and decide to sell some of it later.

For more information on land surveys, titles, and the closing process, contact JJ Pierce at Closings of Tulsa at 918-493-2241 or www.closingsoftulsa.com.

If you are interested in building a new home or addition, contact Bruce Gardner of Gardner Construction at 918-481-1377 or gcc1946@aol.com.

For real estate needs in the Tulsa, Oklahoma area contact Darryl Baskin, McGraw Realtors, at 918-258-2600 or www.darrylbaskin.com.