In real estate, “pending” refers to a property that is under contract to be sold. This means that the seller has accepted an offer from a buyer, all of the contingencies have been worked out, and the contract has been signed. While the sale is almost complete, the home isn’t officially sold until the title …
When you are buying a home from a seller who is considered a non-resident (someone that lives in another state but is selling a property where you are buying), you may need to withhold part of the proceeds. And the requirements change state by state, so it is important to check with your state’s Department …
How to Know if You’re Responsible for Withholding & By How Much Read More »
Tenancy in common (TIC) is a form of property ownership where two or more parties hold a title to a property and share ownership rights. The difference between tenancy in common and a join tenancy is the way ownership gets passed along when one owner dies. With joint tenancy agreements, property ownership passes to the …
A cloud on title is any title defect that can prevent the legal transfer of the ownership of a property from a seller to a buyer. Common clouds on title are: Liens Clerical or filing errors Unknown heirs An incorrect official property descriptions Encroachments or easements Ownership disputes Fraud These clouds are usually discovered during …
There are 12 types of deeds in real estate transactions, but seven that are more common and will likely be used when you buy or sell a home. Knowing the ins and outs of each type of deed will let you know how well your ownership of the property is protected, not to mention avoid …
The 12 Types of Property Deeds and What They Mean Read More »
An adjustable rate mortgage (ARM) is a home loan where the interest rate adjusts over time. Adjustable rate mortgages usually start with an interest rate lower than fixed rate mortgages, but that initial low interest rate doesn’t last forever. Because the rate is not set in stone, it is called an adjustable rate mortgage. While …
Choosing between VA renovation and traditional home renovation loans, or a VA loan in general doesn’t have to be tricky. It all depends on your situation and needs. For example, VA renovation loans allow you to purchase property and rehab it where some traditional home renovation loans don’t allow you to buy the land. And …
How to Know if a VA Renovation Loan is the Right Choice Read More »
If you are buying a new home, these 31 new home superstitions will help to ensure that you have years of good luck in your new house! Here’s how to bring good luck into your new home: When Shopping for A New Home At Your Closing While You Are Moving In When Shopping For A …
31 “Door Shutting” Superstitions For Buying a Home Read More »
Finding the perfect home or land can be tricky. Knowing which type of VA loan to select does not have to be. Whether you need to make the property handicap accessible, want to add an accessory dwelling unit for aging parents, or turn unimproved land into a dream home; the guide below will help you …
A special warranty deed is a type of general warranty deed used to transfer ownership from one owner (a person, group of people or entity) to a new owner when the seller cannot guarantee 100% ownership of the property they are selling. The biggest difference between a special warranty deed and a general warranty deed …
What is a Special Warranty Deed and What It Is Used For Read More »
