For many home buyers, it doesn’t matter what may have happened in or on the property in the past -- as long as it’s in good condition now. Others don’t want to live in what’s considered a “stigmatized property” – at least in some types. Homes can be considered...
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Residential Real Estate
Mediocre real estate agents should be avoided
Most potential homebuyers and those looking to sell their homes think of real estate agents as industry experts whose profession is highly regulated. In reality, many states require little of aspiring agents beyond a licensing fee, minimal coursework concerning their...
What are the risks of a lease option in real estate?
The real estate market has been pretty wild over the last couple of years, and both buyers and sellers are currently feeling the heat from rising interest rates. That may be leading to a resurgence of lease options as a popular path toward home ownership. A lease...
Buying a house? Why you need to conduct a title search
A title search is a thorough examination of public records to verify the legal ownership of a property and to uncover any existing claims or liens that could affect the property's title. Just as you wouldn't buy a car without checking its history for problems, a title...
AI and the real estate market: Three things to know
Artificial Intelligence (AI) continues to play a role in almost every area of our lives. Artists use it to create works of art, writers use it for inspiration, and even physicians use it to help improve health outcomes. It should come as no surprise that investors,...
What happens if the bank appraisal is lower than the offer price?
Before a lender approves your mortgage application, they must appraise the property and get an unbiased estimate of the home’s value. When the appraisal value and the agreed price do not match, it becomes a problem. The bank will only fund a mortgage based on the...
What are your rights if you buy a home “as-is?”
You’ve found what seems to be the perfect home in the perfect neighborhood at a great price. However, it’s advertised for sale “as-is.” Obviously, the first thing you want to do is find out just what the problems with it are. Some homes for sale as-is are in...
The importance of contingency clauses in home-buying contracts
As you navigate the complex process of purchasing a property, it's essential to ensure that you have a safety net in place to protect your interests. That safety net comes in the form of contingency clauses in your home-buying contract. While they may sound technical...
3 issues that could delay or cancel a residential closing
Those buying residential real estate in New York have to prepare for a lengthy process. First, they have to start looking for properties that meet their needs. They have to arrange tours at those properties and then make offers on the ones that they think would work...
How “love letters” from potential buyers encourage discrimination
Discrimination in residential real estate has been a problem for a long time, and it’s a topic that needs to be addressed more often. Recently, love letters from potential buyers have been scrutinized for their potential to encourage discrimination. Love letters are...