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Consider Real Estate Market When Making Investment

By Ilyce Glink| 2007-04-16T00:00:00-05:00 April 16th, 2007|

When you're considering buying an investment property that is pre-construction you need to look at the deal carefully. Certain areas of the country are awash in real estate investment properties such as condominiums. What do you need to consider if you're buying investment property with hopes of flipping it?

Homeowners Association Dues Required With PUD Rider

By Ilyce Glink| 2007-04-15T00:00:00-05:00 April 15th, 2007|

When you buy a home it's important to understand all the documents you sign. When you sign a planned unit development (PUD) rider on a mortgage that obligates you to pay dues as a member of a future homeowners association (HOA). When you're a member of an HOA, you also get benefits like the group caring for common areas.

Real Estate Agents: Home Buyers’ Interests Most Important

By Ilyce Glink| 2007-04-14T00:00:00-05:00 April 14th, 2007|

Potential home buyers should make sure the real estate agent they are working with has their best interests at heart. Home buyers must be careful when looking at a home that their real estate agent isn't also the seller's agent. Otherwise the home buyers' interests will not be most important to the real estate agent, who will make a commission on the sale of that particular home.

Easement Agreement Determines Property Use

By GlinkAndTamkin| 2007-04-13T00:00:00-05:00 April 13th, 2007|

Even if you have an easement on a property, the property owner retains ultimate rights to the property. So if your driveway is on land with an easement, but you don't own the property, it may be a problem. While you may be able to come to an agreement with a current neighbor, that could change with new neighbors. The easement agreement language is key to understanding this dispute.

Easement Problem Not Disclosed By Title Company

By GlinkAndTamkin| 2007-04-12T00:00:00-05:00 April 12th, 2007|

When you buy a home, it's the title company's job to find easements during the title search process. What can you do if the title company does not disclose an easement? Easements may include landscaping issues and could affect the way you manage your property. Can you win a lawsuit over an easement?

Home Buyer’s Offer For Seller’s Home: Reasonable?

By Ilyce Glink| 2007-04-09T00:00:00-05:00 April 9th, 2007|

What constitutes a reasonable offer on a new home? Ilyce explains that it depends how well the house is priced, but a buyer who puts in a bid considered to be 5-10 percent below the list price would be giving a reasonable offer. But if the home seller priced the home to high, a buyer's reasonable offer may seem like a "low ball" offer.

Home Warranty On Existing Home

By Ilyce Glink| 2007-04-08T00:00:00-05:00 April 8th, 2007|

There are two kinds of home warranties available in the market. One warranty is given to a buyer of a newly construction home and one is given to buyers of existing homes. A home buyer purchased an existing home that was supposed to come with a warranty but found out it didn't and wonders if there is any recourse.

Limited Common Element In Condominium

By GlinkAndTamkin| 2007-04-06T00:00:00-05:00 April 6th, 2007|

This condominium buyer wants to convert the basement to make it into a duplex. The basement will be considered a "limited common element" and the home owners will need to apply for permits. There are differences in the way you own a fee interest in a condominium and the way you own a limited common element of a condominium.

Helping Offspring Purchase Home

By Ilyce Glink| 2007-04-05T00:00:00-05:00 April 5th, 2007|

These parents co-signed a mortgage agreement for their son and daughter-in-law and now hope they can take their names off the mortgage with a loan assumption. A loan assumption would remove the parents from the mortgage but this option is only available in rare circumstances. Until the son and daughter-in-law are able to refinance on their own qualifications, the parents will not be able to remove their names from the mortgage.

Home Value And Condition Must Match Price

By Ilyce Glink| 2007-04-03T00:00:00-05:00 April 3rd, 2007|

Once you figure out how the condition of your home compares to other homes that are for sale in your neighborhood, and you decide whether you're willing to fix it up for sale, you can turn your attention to pricing your property. To get the most money for your home, you should make it shine. Fix the broken items, repaint the interior, clean the carpet, "stage" your rooms, and clear out the closets and countertops.

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