Roberto Ribas's Q&A

I knew an excellent tax preparer like that here in mesa arizona. Several hundred of his clients have now been audited, some charged with felonies.YOU sign the tax form, and a preparer won't shield you from your own responsibility.  Do yourself a huge favor: go see a legitimate tax attorney, have him/her look at your past several years of returns, redo them, pay what you owe plus the fines. If you bring it forward before the IRS finds out, they will almost certainly give you amnesty, wait till they audit you, and you may have a conviction, loss of your real estate license etc.

Why do I ask myself questions?So I can answer them. Do I have any other questions I can ask myself? yes i do!

sometimes, yes. A cash offer, with proof of funds, and without an appraisal contingency has the least risk possible to a seller of the deal falling through.So for some sellers, that will induce them to take a lower price.

Well, Landlording is a super easy business. Tenants always pay the rent, homes never need repairs, and making decisions 1000 miles away from the property would likely be a very good way to run it. Not to mention, renting to people who are now used to not paying their monthly housing bill should work out spectacular, especially if they are pissed off over losing the home.And, as a final point, no doubt the market will go up a ton next year, as interest rates rise and foreclosures keep coming on the market, so selling a home a year from now will be super easy. /sarcasm off.

in some states, an owner or seller doesn't have to disclose such information.However, except for possible ridiculous superstition, why would you care? the building I lived in as a child was over 400 years old, I'll bet more people have died in it than live in it currently.

steve, are you nuts? partnerships are probably the most common business arrangement on the planet. The gal isn't selling unregistered securities...

well, Las Vegas has the highest mortgage delinquency rate of any city in the US, skyrocketing unemployment, and a falling rental market. Despite recent buyer's enthusiasm due to low rates and a temporary credit, I'd call those some very serious storm clouds.

I doubt it is either illegal or unethical, but I would argue that it is probably a terrible idea. Recent history has shown us, that the 'buy a home at any cost' attitude will generally cost you quite alot when that market area changes.

Liz, you might try reading the questions before answering them... also, keep up on current law, there are many options whereby the shortage will not be taxed, you should be aware of these before trying to offer advice.Many times, the owner will not care too much. They simply want a deal that will be acceptable to the bank. If the owner lives in a non deficiency state, such as arizona, and the bank refuses to forgive the shortage the owner could and probably should give up on the short sale and just let the bank foreclose. So, obviously the party with the most concern about getting a good price would be the bank.

Um, hey genius, this question is from May. Half a year later think they still need your advice? And, Mr lovejoy, read the good neighbor policy, you can't put your email in postings, and begging people to call you looks sad.