OCR Text |
Show CIO REVIEW. June 23. 1966 WHATS YOUR PROBLEM? Sneaky Approach Sometimes Best by By experience, I have found that in cases of this type the reputed owner will continue to make threats and bluster but it is doubtful if action In a small will be taken. claim the cost of litigation are not justified besides, there is a chance he will not prevail. If you and your neighbors will get together and offer a nominal amount (say $100 or $200 each), the owner may be glad to give you a quit claim deed to the rear ground. This type of solution is most advantageous for all parties. Bernard C. Meltzer Sometimes, in Real Estate in life in general, it is not to meet complex best problems 'head on." Problems relating to adverse possession are often in this category. When small claims are involved, proving you are right is often too costly and another approach is indicated. as Dear Mr. Meltzer: The rear portion of my yard apparently doesn'tbelong to me nine at my neighbors have the same problem. Last month, unexpectedly a surveyor appeared and started making measurements. Yesterday, a salesman knocked on the door and showed a plan indicating that the rear fifty feet of the yard did not belong to us, He said the owner would sell this land for $1,000. If not, we were told we would have to move our fences within one week. I have followed your column faithfully and remember reading your comments about Adverse Possession. The houses are about thirty years old and I was told that everybody has always used the rear ground Would as their backyard. you advise to pay the $1,000. Answer: As a general rule, a property will bring less than fair market value at a sheriffs sale. There are several legitimate reasons for this. sheriffs sale? The usual - buyer at a sheriffs sale is a real estate Looking for a Bargain broker, a speculator or an in- - Dear Mr. Meltzer: We live in an area where all the houses are about the same and were built in die post World War n period (value $12,000 to $15,000). Any house offered for sale sells without too much trouble. In the next year or two we will be moving to an apartment and will sell the house. It is in good condition except for the decoration. We would like your expert opinion as - to whether there is a big monetary advantage to papering and painting before offering the house for sale. It We will cost about $400. cannot do the work To make homes more attractive to buyers, professional builders now include kitchen extras such as a doubledoor refrigerator-freeze- r as standard equipment. Exis this efficient kitchen in a Levitt community. ample Kitchen Extras une out-selv- es. Asking the Expert could give a reader the standard reply that to prove adverse possession one must show that the possession of the land was open, notorious, actual, exclusive, confor the statutinuous, etc. tory period oftimeas required in various states. Then each of the adversaries could line up with their legal staffs and due battle. been frequently Having bruised in battle, I have learned that problems of this type are not met head-o- n. Proving title by adverse possession is a complex, time consuming and costly experOn the other tend, ience. the reputed owner would have, just as difficult a time proving good and marketable title. 1 Answer. Not only will there be no monetary gain if you paper and paint but you will suffer a loss. I doubt if the $400 you will spend will bring a measurable price differential. At most, it will be $100 to $200, and probably no difference in price. The main value of redecorating before selling is that it makes for a faster sale. Since the market in your area is good, I offer the recommend you property in "as is condition. ' Dear Mr. Meltzer: A house on our block was recently sold at sheriff s sale Contemporary -- OPEN Si- c 1 ft, m . " refrigerator up-to-d- .include as standard equipment those home features which some builders still consider optional. Most recent was the introduction of modern, two-do- refrigerator-freeze- rs or as standard kitchen equipment in two community complexes. This year, the new -- door refrigerator-freeze- rs will be included as standard equipment in four other Levitt communities. Such practices are part of William Levitts concept that a house is not enough. As early as 1947, when the first Levittown was built on Long Island to provide low-co- st housing for returning GIs, the company was providing as standard equipment a range. 11 f Standard The modern home buyer wants more than a house. Inside, he looks for features like kitchen. Outan side, he likes attractive landscaping and some community extras, such as a pool and country club. Modern homebuilders are meeting these requirements in a number of ways. For example, Levitt and Sons, Inc., the countrys largest homebuilding organization, makes it a practice to double vrr and Priced DESPERATE TO JOIN DAD! way te ar - below appraisal See this lovely con- temporary home. Slate entry, beamed ceilings, Irge.bdrms, com! 2 Stop in baths. Finished up and down. and see for yourself! 2265 East 4800 South 5 - 486-197- 9 4 Air Doug McAff m Realty 262-318- difficult. Usually a certi- fied check of 10 percent is required to bid and the balance, in cash, is due in a relatively short time. Also, it takes considerable knowledge to judge what one is buying. The sale may be subject to mortgages, liens, encumbrances, and easements which are difficult to evaluate. Yes, bargains can be obtained at sheriffs sales. However, I do not recommend this for laymen. It takes specialized knowledge and experience. Experienced to help you with any decor. Furniture & Drapes AT COST co-ordinat- ors CAIPET1NS REMNANTS FREE PARKING IN REAR Open Monday and Friday Evenings PHONE; 484-161- 2 Dear Mr. Meltzer: My husband is 62 and doesnt When we make big wages. bought the house 10 years ago the mortgage payments were low. However, almost every year the taxes go up and now the payments have reached the point where they are too high. A friend tells me he has a similar problem and he makes no mortgage payments. He says he has arranged with the bank to wait until he sells the house or until his death and the estate will then pay off the obligation. This would be a wonderful solution! How do we make the arrangements? automatic clothes washer. By 1963, Levitt was building communities with a choice of seven different house styles, each including at least two baths and such features as a refrigerator-freezer and a modern wall oven. Another way the company meets consumer needs is with total construction, the production of entire communities complete with schools, shopping centers and recreational facilities. One of the new Levitt communities has 45 acres almost 25 percent of its total area devoted to recreational facilities, including boating, swimming and tennis courts. All Levitt homes are landscaped. The companys awareness of what the buyer wants, plus a system of on-siconstruction which cuts costs and keeps sales prices down, revolutionized the post-wbuilding industry and forced other construction firms to follow suit. The realization among buyers that they could expect in Levitt homes those features and equipment that were optional with other byilders, helped to make Levitt a household word. 2774 East 3400 South NOW AT $25,950. vestor and not the general Financing is also public. . Shook Up Answer: and it brought $16,500, Some of the houses in die area in the past year have sold for $20,000 and over. Was the low price unusual or is this situation characteristic of a Old and Broke It cant be done! must be making mortgage payments for your friend without his knowledge as a charitable gesture. In a similar case I know of, the were making the children monthly payments unbeknown to the parents. Since your mortgage is seasoned' by now, I suggest you talk to the bank about resetting (extending) the term. This will reduce monthly payments. Lending institutions often will take such actions in cases like yours. Answer: Somebody Dear Mr. Meltzer: When I married five years ago my mother gave me some beautiful rugs that had been in the family for generations. Everyone of them is now curled up at the corners and end. Not only is this unsightly but it is dangerous. How do you get an old rug to lay flat? Heirloom Answer: New rugs usually are sized on the back to make them lie flat. With age, wear and cleaning the sizing disappears and the corners and ends will curl. To resize a rug stretch it upside down on the floor and tack the ends so it is flat. Then spray the back with a solution consisting of one half pound of glue chips in two quarts of water or brush with a thin coat of white shellac. Let it dry thoroughly (about 48 hours). e t Mr. Meltzer wecomes your and comments. Unfortunately he is unable to enter into personal correspondence with readers, but will attempt to answer as many letters as possible through his column. letters |