There are certainly cases in which it is a surprise that a house does not pass inspection. This can also happen with commercial property. The seller believes that everything is in order, the buyer has walked through the property and didn’t see any problems and they...
Residential Real Estate Transactions
When your buyer backs out of a real estate deal
It's every seller's nightmare: they've found a buyer for their home, the contract is signed, and a closing date is set. But then the buyer gets cold feet and decides to back out of the deal. Does the seller have any recourse? The answer is, “It depends.” Consequences...
What can throw off a real estate comp?
With real estate sales or purchases, comps are very important. These are comparable properties, and they help to define the value of another property. For instance, if you’re selling a three-bedroom home for $500,000 but the comps in the area show that three-bedroom...
What does a cloud on title mean?
A title is a legal right to ownership of a property, including the right to sell. If there are doubts about the property's ownership or third-party claims, its title is said to have a cloud. As a result, it may be impossible to find buyers for your property since a...
5 things property inspectors can miss
Everyone who's experienced in looking at real estate knows they’ll need an inspection. A perfect inspector will be able to tell you every flaw and danger on a property allowing you to reconsider your investment. But, inspectors are only human, and that could mean...
Has a neighbor damaged your property?
You’ve lived in the same neighborhood for some time now and you’re very house-proud. You spent a lot of money in obtaining your dream home and you also invest significantly in its upkeep. For the most part, you get along well with your neighbors but recently you’ve...
What must Arizona property owners disclose before selling?
“Congratulations. You are now the proud owner of a property contaminated with deadly waste, prone to destruction in a flash flood and haunted due to a triple murder that took place there. By the way, don’t go into the attic as it is filled with asbestos.” That’s not...
Can a co-owner sell a property without everyone’s permission?
People own property jointly for many different reasons. Maybe you bought a place with your college roommate so that you wouldn't have to pay rent in your twenties. Maybe you bought a house with your long-term romantic partner despite your decision to not get married....
Signs that a real estate agent is lying to you
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...
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...