Question: I have a piece of land that I bought two years ago, and the developer recently dumped his remaining lots at about 40 percent of the price I paid. Can he do this? If I want to refinance to get better terms for my loan, will a lender use my purchase price or will the current comps? I won't be able to refinance on the basis of the property's current value.

Answer: This could be bad news all around.

First, unless there's an agreement to the contrary the developer has every right to sell his remaining lots at market value -- whether that value is more than you paid, or less.

Second, if you refinance now a lender will consider your loan application on the basis of the property's current value, not what you paid several years ago.

Question: My sister and I inherited a cabin in Canada. One of us (me) wants to sell and the other doesn't -- but she doesn't have the money or credit to buy me out. What steps do I take to force a sale?

Answer: You probably need to see this matter as both a real estate issue and a family concern. Whether you sell or not, your sister is your sister and will be for a very long time. If you force her to sell, then future family events may be awkward or tense. There may also be other issues in years to come where your sister's cooperation would be valued.

After this consideration, you need to see how title to the property is held -- this is a job for a Canadian attorney. In the U.S., a suit for "partition" to force a sale might then be suggested.

Published: November 26, 2007

Use of this article without permission is a violation of federal copyright laws.

Have a real estate question for Realty Times? Wondering about buying, selling, financing, refinancing or renting? Here's where you can send your question to Peter G. Miller, OurBroker®, a nationally-known columnist, author and reporter. Peter G. Miller has written six books -- including The Common-Sense Mortgage -- a guide with hundreds of thousands of copies in print. Miller was the original creator and host of America Online's Real Estate Center and joined Realty Times in 1998. Send your questions to . Because of the volume of mail received, individual questions cannot be answered privately and not all questions can be used. Published letters may be edited for space and style and all letters become the property of Realty Times upon receipt.