If you’re looking to buy a home, the first step may be to contact a mortgage lender. You will provide them with documentation, such as proof of your earnings, and they will then give you a preapproval letter. This will tell you roughly how much money the mortgage...
Your Neighborhood Real Estate Law Firm
Residential Real Estate
Do you really need legal representation when buying a home?
A home purchase is one of the riskiest financial transactions you may make during your lifetime. Since a lot could go wrong in a residential real estate transaction, you may wonder if you should consider legal guidance, but how do you know it will help? Each state has...
New York home sellers must now disclose flood history and risks
This year has brought unprecedented flooding to New York City and other parts of the state. This helped spur efforts by state lawmakers to craft legislation that would increase home sellers’ responsibilities to disclose known flood risks to potential buyers. In...
Do you need to hire a home inspector?
It’s important that first-time home buyers find a home that they don’t later regret. Many first-time home buyers will try to rush into purchase when they finally find a home that piques their interest. A home buyer may fear that if they don’t buy the home now then...
How do you know if you could be buying a “stigmatized property?”
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...
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...