It’s always exciting to get a new client listing, and finding out the house is condemned does not make it a bad thing. It gives you the opportunity to show how you as an agent can handle all types of situations. And when the sale is complete, you can get a fantastic case study or …
Strategies to Sell Condemned Houses Quick and Easy Read More »
The chain of title is a record of all property owners from the original to the current one, and the transactions that have taken place. It is where you can look to see who has owned the property and how it was transferred. This is the first place to look if there are any claims …
The Chain of Title and How it Impacts Real Estate Ownership Read More »
A habendum clause is a section in a real estate deed that specifies the details of a property transfer. Included in this portion are the properties transferred, the transfer recipient, and the transfer period’s length. There’s a good chance you’ll also find the designated heir or heirs who will inherit this asset. This section of …
If you have no other way to access your land by vehicle except your neighbor’s driveway, then you have discovered an easement appurtenant. An easement appurtenant is the right to use a portion of another person’s adjoining property for a specific purpose, like a drainage easement that allows you to divert water onto or through …
An Easy-to-Understand Guide to Easement Appurtenant Read More »
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 »
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 »
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 »
If you’ve just received foreclosure papers, you may be wondering what happens next. Your first step should be to take a deep breath. Millions of people get these notices and the bank does not want to take your home. You also have rights while you’re in the foreclosure process to protect yourself from losing your …
