Category: Real Estate
-
Single and Looking (for My Very Own Deed)
Single and looking? Take heart! So many people would love to be in your position. Some never have a home that’s theirs alone. If you think most people in the current real estate market are couples, you’re right. Yet single buyers make up more than a fourth of all buyers. You could join them, and…
-
Is the 30-Year Mortgage Best?
Most home buyers go with a 30-year mortgage. There are other options — most notably the 15-year mortgage. The shorter mortgage typically comes with a lower interest rate. But it also means higher monthly payments. The monthly weight of a 30-year mortgage is easier to handle. This, in turn, makes homeownership an easier reach for…
-
Was Your Seller Inspired by Pinocchio? Buyer Remedies for False Disclosure Statements
In a recent survey, more than half of sellers admitted to not disclosing a known problem with their property. Although this is just one survey, the point bears noting. Buyers should probably expect to find issues with their homes. A home buyer can sue over a material defect that wasn’t disclosed by the seller.
-
The Struggle Continues: Deed Equity Means Closing the Racial Wealth Gap
The African-American and Hispanic homeownership rate has generally been below 50%. Now, there’s a group on a mission to include the “have nots” in the U.S. population of deed holders. It’s taking down hurdles to homeownership, like the need to amass money for down payments. The Homeownership Council of America has debuted Equity DPA, a…
-
Transferring a Deed Before the Loan Is Paid Off? Be Mindful of the “Due-on-Sale” Clause
Are you thinking of transferring your deed? You might be quitclaiming the deed to someone you know, or you might be transferring it into a company or trust. Or you might be getting ready to sell. In all of these cases, check the rules on your home loan. If you have a conventional mortgage loan…
-
Splitting Lots: What It Takes to Subdivide a Piece of Property
Trying to purchase land and subdivide it? Or hoping to split a lot you have? It could be harder than it seems. Subdividing land involves dividing a single property into smaller parcels. Local governments often greenlight companies that create large subdivisions, as they can boost local tax bases and economies. In a parallel way, an…
-
Back in the Game: How to Get Another Deed After a Bankruptcy, Foreclosure, or Short Sale
Finding a mortgage again after a financial setback can seem like an impossible feat. But it’s doable. Here, we consider foreclosures, short sales, and bankruptcies. We look at how they can be overcome for the purpose of acquiring a deed to a home.
-
Between Signing My Purchase Agreement and Closing: What’s Going On?
What goes on between the day you find your seller and the day the seller hands you the keys? If you’re new to home buying, you’ll be curious about each step. And if you haven’t closed on a home in a long time, you might want a refresher. Once you sign the agreement, a…
-
Is the Backyard Cottage Written Into the Deed, or Recorded Separately?
You might be familiar with guest houses or garden suites. You might have seen detached garages turned into cottages, or finished basements converted into rental space. Town managers call these extra living spaces ADUs: accessory dwelling units. A house deed typically does not point out an ADU on the property. But the additional living unit…
-
Ready to Close—But the Home Isn’t Empty
You’re ready to close on your new home. There’s just one issue. On what you thought was your final walk-through, the home still has an occupant. Or, surprise! It’s still cluttered with the seller’s rugs and lamps. Let’s talk about how to avert this scenario — and how to deal with it if and when…
-
Political Signs: A Deed Holder’s Guide to Laws and Limits
Is there a First Amendment right to display political signs of any kind, size, or position on the sign poster’s own property? At first, the answer might seem to be a flat-out yes. The Constitutional commitment to free speech prevents heavy-handed government interference with political messaging. But states place limits on what residents may do…
-
How Do I Get a Deed for a Home I Build?
Great question! We generally talk about “getting a deed to a home.” But the accurate phrase would be “getting the deed to the land.” The actual, built home does not have a deed. Let’s go a bit deeper. What do people who build their own homes need to know about their deeds?
-
Trees Don’t Respect Property Lines. Who’s Liable for Accidents or Hazards?
Trees are beautiful. They cool our Earth, buffer noise, and drink up stormwater. They offer habitat to birds, and so much more. Trees can make beautiful, natural borders between properties. But, from time to time, they do play a role in tensions between deed holders. Today we explore a few common conflicts related to trees…
-
Schedule E: What People Who Rent Out Properties Need to Know
Are you earning extra income from rentals — even a room in your home? Many people have the opportunity today to earn extra income from renting out space for others to live in. Whether you’re renting out just a room or an entire home, get ready to fill out Schedule E. (This IRS form’s title…
-
For First Responders Buying Homes: Mortgages and More
We can’t say enough about the importance of first responders. We only need look at California or Florida these days to immediately grasp the key role they play in any town or city. Easing the path to homeownership for first responders is one way for communities to keep these essential people. Mortgages that support first…
