What is earnest money? How much is earnest deposit money? How does earnest money work? What’s the difference between earnest money and down payment funds? These are all common questions that home buyers ask real estate agents daily. By the end of the reading, you will have a solid understanding of the answers to these […]
Nonpermitted Work: What You Need to Know When Buying or Selling a House
What is Unpermitted Work? Are you buying or selling a home with unpermitted work? If so, you are not alone. Many homeowners skip the process of pulling building permits. Unpermitted work is construction on a home that does not carry the necessary permits to make it legal per local ordinances. Additions to homes and finished […]
What is an Appraisal Contingency and Why Should I Care?
What is an Appraisal? Appraisals and appraisal contingencies are standard parts of most real estate transactions and the home-buying process. A real estate appraisal is often conducted when purchasing a home and getting a mortgage. It ensures that you pay the fair market value for a property. Appraisal is a requirement of mortgage lenders before […]
Encroachments Meaning and How to Deal With a Violation
What is an encroachment? Are encroachments in real estate a significant problem? You’ll undoubtedly want to know the answer when you’re involved with disputes about your boundaries. Encroachments on a home can become a problem when buying or selling. A land survey could uncover an encroachment on the home you want to buy that could […]
How to Find Your Property Lines For Free
Are you wondering how property lines work? Maybe you are trying to determine precisely where your property lines are located. You’re not alone if you nod yes to these questions. Understanding how to find property lines is vital, especially after buying a home. Lots of folks try to research how to find their lot lines. […]
What is The Difference Between Contingent and Pending?
One of the questions I often field as a real estate agent from buyers and sellers is the difference between a pending home sale and a contingent home sale. Some will also ask what a contingency means as well. The meaning of contingent is not difficult to understand and neither is pending However, if you […]
Why Dual Agency is Illegal in Some States
Did you know that dual agency is illegal in some states? There is one perfect reason why dual agency has been made illegal in some places – it sucks for consumers! Do you want your Realtor to represent your best interests? How about getting the lowest price when buying or the highest price when selling? […]
What is an Exclusive Right of Sale Listing Agreement?
When selling your home with a real estate agent, you will execute a listing contract. The most common arrangement is an exclusive right-to-sell listing agreement. A contract is signed between a homeowner and a listing agent in this arrangement. The contracted agent is the only individual you have hired and is guaranteed a commission upon […]
What is a Seller Concession in Real Estate and How Does it Benefit Buyers?
Have you heard a real estate agent using the term “seller concessions” or “selling concessions” and wondered what it meant? Buying a home can stretch your finances to the limit, with closing costs that could be as much as 5% of the purchase price. This can make purchasing the home you want very difficult, but […]
What is an Abandoned House and What Happens to The Property
When driving around neighborhoods, you might see what looks like an abandoned house every so often. The signs of abandoned places are blatantly obvious. The boarded-up windows, the overgrown landscaping, the peeling paint, and the crumbling driveway give away the state of disrepair. Some words, such as decrepit, dilapidated, and eerie, will often come to […]