Before you hire a real estate agent, make sure he or she has an active license to do business in your state. Most states require that the license is printed and displayed in the agent's office. You can also contact the state to verify the license.
A home buyer purchased a new home only to discover that it has live termites, even though they had a certified home inspection. The buyer may be able to sue the seller for not disclosing the problem as well as the home inspector for not doing his job correctly. Home inspector contracts often limit the inspector's liability to the fee paid.
Home sales may decline in 2007, following the trend from 2006. States with a weaker real estate market also have seen employment declines. Real estate industry experts point to the higher default rate for sub-prime loans and the high volume of home equity loans as affecting the real estate market.
When you make a real estate investment with a partner you need to set up a partnership agreement outlining each partner's role and responsibilities. You should think twice before doing a real estate investment with a partner whose judgment you don't trust. The partnership agreement would also protect the partners, in case one tried to defraud the other, as could be possible with a quit claim deed in this case.
Signing a quit claim deed can result in real estate loss instead of financial protection for your partner. If you want to offer your partner financial protection, there are other means including term life insurance, as opposed to signing a quit claim deed and possibly losing your ownership of real estate. If you have signed a quit claim deed to give your partner financial protection, you should contact an estate attorney to make sure you don't lose your real estate.
A buyer recently bought a home that now has water in the basement. His home inspector has mentioned poor gutters and a grade problem. Since these problems were revealed during the inspection, and the buyer did not request to have them fixed, the purchasers are most likely responsible for the damages.
