If you’ve found your home has a cracked foundation, you’re likely wondering how bad it is and how much it will cost to fix it. The good news is that not every crack needs fixed, the bad news is that some foundation cracks are indicators of more serious issues that are too expensive to repair. […]
Deeds are legally binding documents which transfer ownership of property from one person to another. It’s important for you whether you’re a grantor (the seller) or a grantee (the buyer) to know about the different types of deeds in real estate because each one can protect you during and after the transaction. Fun fact: There […]
A zombie property is a property abandoned by its owner after receiving a notice of default from their lender. It is called a zombie property, because the homeowner mistakenly believes that they need to leave the property and stop maintaining it. These properties get the name zombie because many zombie properties are decayed, rotting on […]
While home inspections are not legally required in the home buying or selling process, many buyers will request them after making an offer on your home to verify that your house is in good condition. And if the buyer is taking a mortgage, almost every lender will require a home inspection for the same reason. […]
In real estate, the difference between grantor vs. grantee is that the grantor is the person who transfers a property they own to a grantee, the receiver. So why not just say seller and buyer? Because there is legal meaning behind the titles “Grantor” and “Grantee” when it comes to the deed. A deed is […]
Title insurance is an insurance policy that protects a homeowner or lender if somebody puts a claim against the property being purchased. Title insurance policies are there to protect you as the buyer after you have closed on the property from any issues that were not discovered during a title search. There are two types […]
Home improvements can be a great way to make your house more desirable when selling it. But not every home repair increases the value of your house. Although some home repairs may look good visually, they don’t raise the sale price because there isn’t a “perceived value” or they won’t help your house pass inspection. […]
The person who gets the house is based on three factors: If one spouse wants to keep the house Who a judge deems fit to have the home if both spouses want to keep it (assuming neither person can come to an agreement) Both people want to sell Because a home is likely the most […]
Closing costs for a seller are the taxes, fees, and other expenses which are paid by the seller while finalizing the sale of their house. And good news, a seller’s closing costs come from the money earned when the deal closes, so you don’t need to pay out of pocket. Closing costs for sellers include: […]
If you inherited a house, taxes may come along with it. There may be even more hidden costs once you sell the house you inherit, but don’t worry, inheritance taxes on houses are easy to work with and this guide walks you through them without the legal jargon. The costs and taxes with inheriting a […]
An REO foreclosure, also known as a real estate owned foreclosure, is when a house is foreclosed on by the lender, and the lender takes ownership of the title. Sounds a lot like a regular foreclosure doesn’t it? The biggest difference with an REO foreclosure is that the lender, normally a bank, will keep the […]
A probate sale in real estate is when a house belonging to a deceased person is being sold; ‘probate’ being the legal process after someone dies. In probate, courts distribute the deceased’s property in accordance with their will. You will come across one of two people at this stage, the executor and the administrator. An […]