If you’re in the process of acquiring a new property, then you’re most likely going to have to deal with a real estate agent at some point. These are licensed professionals who oversee the purchase and sale of real estate. The sums of money involved in real estate...
Residential Real Estate Transactions
What if you build on the wrong lot?
You buy an empty lot for the construction of a residential home or a new business. Then you hire a construction company to do the job for you. You're busy and you often travel overseas for work, so you're not around to oversee the entire project. That's why you're so...
Why are contingencies crucial when buying real estate?
Before you purchase a home, you want to ensure it meets all the necessary criteria. You can do some of this in the search and viewing stage. For example, if you need a place with three bedrooms, you filter out those with only two. Yet not all criteria are so easily...
What is a short sale in real estate?
A short sale in real estate means that a homeowner wants to sell a home for less than they owe on the current mortgage so they can avoid foreclosure. Mortgage companies may lose out on money if this occurs, so they must approve any short sale that occurs. Because the...
Don’t look for the wrong things when inspecting a new home
People often talk about looking for the right things in a new home. If you're interested in the residential real estate market, you likely have a list of things that simply have to be in the house for you to even consider it. This is a good place to start, but you...
Eminent domain: What does it mean for you?
In the United States, governments have the authority to take private land if it's being used for public use. This doesn’t mean that the property owner just has to accept what’s going on. They’re entitled to be fairly compensated for the property, and this sometimes...
What’s the difference between a down payment and earnest money?
Buying a house is a huge step in your life, and you don’t want to make any mistakes. The home buying process itself can be very confusing. It seems to have its own rules and language, and that can leave you on unfamiliar ground. One of the first things you need to...
Can you back out of a residential transaction after an accepted offer?
You made an offer on a property, and the seller accepted. At first, you may have felt excited because the home met all of your personal criteria or was in the right school district. However, as you have gotten closer to closing, your situation has changed. Maybe your...
Why do buyers need title insurance on their new homes?
There are quite a few secondary expenses you have to cover when you buy a house. You have to pay for inspection and possibly an appraisal. You have to pay for the real estate professionals that oversee the transaction and the title services at closing. You will also...
Why you should talk to your neighbor about boundary issues
If you're having a boundary dispute with your neighbor, it may begin when you notice that they're using your land as if they own it. Maybe they're putting up a fence and you can see that it goes onto your property, or maybe they added on to their house and now it’s...