HOUSE CALLS Broker may be called in to help sell timeshare

Q. I need advice regarding a timeshare I purchased last year, which I now realize was a mistake. How can I resell it? The company I purchased from does not have a resale department; all they do is take your money. Most places want $500 upfront for advertising and no guarantee to sell. Have you any suggestions? -- L.S.

A. You're right to avoid those companies that take an upfront deposit.

My first suggestion is always to contact the developer, but it sounds as if yours has already refused to take the timeshare back.

You could try placing a classified ad in that area's newspaper. Or, contact a real estate broker, offering a commission that's high enough to make it worthwhile working on such relatively inexpensive property. Survey stakes

Q. Is it against the law to remove a survey stake placed by a licensed surveyor? If so -- where can I find it in print so I can prove it? Everyone says it is, but no one can prove it for me.

If it is not against the law, then the next question is: Why do we have surveys when we purchase homes? -- D., via e-mail.

A. Some years ago, I wrote that I was sure tampering with a surveyor's stake was forbidden, but I couldn't quote chapter and verse. In response, a surveyor wrote in with the exact chapter and verse from the Old Testament of the Bible. He also sent in the legal citations.

I've been looking for that old column but can't find it. Let's hope someone will respond and give us the answer again.

As for why buyers need a new survey, perhaps the answer is that some sinner or criminal might indeed have moved those stakes in the past. Refinance rates

Q. I bought a home through the Federal Housing Administration at 7 percent interest.

For the past two years or so, I have been receiving information from mortgage companies claiming I can refinance and reduce my interest rate with no closing costs. I was wondering if these programs are legitimate?

Most are advertising a rate of 4.5 percent, which would be a good break from my current mortgage payment. -- K.L.

A. Read the fine print on those offers. They may involve artificially low introductory rates for limited periods of time on adjustable-rate mortgages. Decide for yourself whether it's worth the risk of rate hikes in the future.

Meanwhile, with your present loan you could ask for "streamline" refinancing, available for any FHA mortgage through your present lender or even with another one. It's a low-cost way to drop your rate to current levels. One-time rule

Q. I would like to know if the law concerning a one-time sale of your home where any profit you make is not affected is still active.

I read about a home-seller tax break, and I would like to know what that is, if the above law mentioned is no longer in effect. -- P.H., via e-mail.

A. There's no longer any one-time limit or age requirement for the home-sellers tax break. If you've owned and occupied the house as your main residence for at least two years during the five years before the sale, you can take as much as $250,000 profit free of federal capital gains tax (twice that for a married couple filing jointly.) The exclusion can be used again on the sale of a future home, as often as every two years. Proper square footage

Q. We are interested in purchasing a property where the square footage listed on the fact sheet seems 300 or 400 square feet higher than it should be. What is the easiest way to get an accurate figure? Would the tax assessment include square footage? Is the interior of each room measured or the exterior of the house? -- B.A.M.

A. Square footage is figured by outside measurements, and yes, this includes hallways, closets and stairs. Adjustments are sometimes made for unheated space (that glassed-in sun porch), cathedral ceilings, attic bedrooms with sloping ceilings, semibasement finished rooms and the like. Nonetheless, multiplying outside measurements is the general rule.

Tax assessments are not always accurate. Get one of those long tape measures, tromp around the building, and figure it out for yourselves. Loans for renovation

Q. Are there any government loan programs for housing renovation? My home was built in the '50s and requires some major work.

I am two years into a business and don't have a lot of cash flow. Any suggestions? -- via e-mail.

A. Inquire at your city or town hall's housing department. If money is available, as it occasionally is for certain neighborhoods, it will be administered at the local level.