Deeds.com

Not Just Cars…

Tesla is visibly changing the norms for cars and their drivers. At the same time, the company is making a mark on the world of real estate.

Let’s start our exploration in a city where Tesla has just opened a new factory.    

Many people look for workarounds in an off-putting real estate market. For a lot of buyers who simply seek a decent home to own, bidding wars aren’t winnable.    

Shut out of a seller’s market but refusing to give in, some people are co-buying as tenants in common. And some are willing to “hack” homebuying — alone or as tenants in common — by renting out sections of the buildings they buy to others who need a roof overhead. After all, the shift to remote-first work creates new chances for homeowners to rent out rooms in various places. And fair rental opportunities are very much needed.

So, our hats are off to determined buyers who refuse to be left out of this market. Their decision to pool resources can be the perfect answer to high down payments and strict lender criteria.

Now, let’s take a look at reasons not to do house hacking. Looking at the downsides can help a buyer decide whether it’s the best answer — or not — to the tricky question of how to buy when prices are soaring.

With Hopeful Buyers Looking Everywhere…

It’s Spring 2022. We have just lived through a remarkable migration phase in U.S. real estate history. The coronavirus emergency, followed by the shift to remote and hybrid workplaces, sent many home buyers out of crowded and expensive cities, and into suburban and rural areas. Throughout the past two years, demand for single-unit houses has done nothing but shoot up. And the price of houses got so high (average is now $400K-plus!) that most hopeful buyers today are priced out.

The latest push out there? Finding a condo for sale. It’s a cheaper path — but only relatively, and maybe not for much longer.

When one co-owner of a home dies, what happens? Does the deceased person’s will control what’s next for the home ownership? Not necessarily.

When a co-owner of real property passes away, how the co-owners vested their title is the threshold question. So, the surviving owner turns to the deed. Its language states how the property is owned.

The deed represents the title’s transfer from one owner to the next, and is proof of ownership. It tells how the property will transfer again upon a co-owner’s death. It tells us if the title passes to the survivor by way of survivorship rights, or if, instead, the property will need to be redistributed through the local probate court.   

After its named owners acquired their house, the county recorded the deed and sent a copy to the owners. If the deed is impossible to find, check for the county’s online registry system. Homeowners can also get a copy of the house deed here, at Deeds.com.

The Key to Buying a Home Online

Many buyers today are entirely comfortable finding their qualified real estate agents by searching online. Buyers who know what they’re looking for can have a successful journey to homeownership with an online brokerage, saving some time in the process. Just what is it, though, that buyers would need to look for? Let’s take a look at what’s going on here.