If you have dry rot, you aren’t alone. Every year, around 20 billion feet of wood and boards are destroyed by dry rot in the United States alone. The good news is that catching dry rot early makes it easy to repair. And on the flipside, undiscovered dry rot can be expensive to fix, and […]
Calculating the square footage of your house is easy once you know what counts as a square foot, and when it applies to your situation. For example, if you’re selling a house the square footage may just include livable space. If you’re getting a quote for a repair, upgrade, or addition, you’ll need to calculate […]
A stigmatized property is a property that is shunned by buyers for reasons that aren’t related to the physical condition or features of the house or land. The most common reasons a house becomes a stigmatized property include: Being the site of a murder or suicide Having ghost stories about the property A famous person […]
A title search is when a person or real estate professional looks through county records and claims on a property to determine who the rightful owner of the property is. It is a part of the process when buying or selling a home to ensure the seller has the right to sell their property to […]
Tenancy in common (TIC) is an agreement where two or more people share ownership rights to a property. The owners in a tenancy in common agreement can be business partners, friends, couples, neighbors, spouses, etc.. The owners do not have to be related. What is interesting about a tenancy in common agreement is that each […]
Hazard insurance is an insurance policy that protects a property owner against damage to their home or property caused by fires, severe storms, hail, sleet, or other natural events. Hazard insurance is part of a homeowners insurance policy, but not all homeowners policies cover natural disasters. The homeowners insurance policies that have hazard insurance sections […]
Real estate commissions are a percentage of the money made from a home sale taken by real estate agents. Because commissions are a percentage, agents make more money selling an expensive home than selling a cheaper property. This is why it is in an agent’s best interest to sell a property for the highest amount […]
Contingent and Pending are both statuses you’ll see on a home listing when an offer has been made, but they mean different things legally. Pending means a contract is made and the buyer can’t back out, whereas Contingent means the seller must meet certain requirements for the sale to be finalized. These contingencies can include […]