REALTORS UNDER SCRUTINY FOR HIDDEN COMMISSIONS
Another potential blow has been struck against the longstanding way in which real-estate agents get paid. In April, the Department of Justice wrote to CoreLogic, a real-estate software provider. …
REASONS TO OBTAIN TITLE INSURANCE
BUYING A HOME IS AN EXCITING AND EMOTIONAL TIME FOR MANY PEOPLE. TO HELP YOU BUY YOUR HOME WITH MORE CONFIDENCE, MAKE SURE YOU GET OWNER?S TITLE INSURANCE. HERE?S WHY …
THE PRIMARY RESIDENCE TAX EXEMPTION UNDER IRS CODE SECTION 121
The $250,000 (single) / $500,000 (married) home sale gain exclusion is a major benefit of homeownership, but the rules can be confusing if you are not familiar with them. How …
10 ARCHITECTURAL HOUSE STYLES
Building a custom home gives you complete control over every aspect of the design. There are dozens of architectural styles to base your custom home on, from historical approaches to …
CLOSING DATE VS. POSSESSION DATE
Here is a possible scenario: Your current home is sold and you must close on your existing home in order to close on a new one. You have to have …
OPTIONS FOR HANDLING CEMETERIES ON PRIVATE PROPERTY
Options for Handling Cemeteries on Private Property Prior to World War II, it was not uncommon, especially in rural areas, for families to bury their deceased family members in a …
REQUIRED HOME SALE DISCLOSURES
1. Death in the Home 2. Neighborhood Nuisances 3. Hazards 4. HOA Information 5. Repairs 6. Water Damage 7. Missing Items 8. Other Possible Disclosures 1. Death in the Home …
9 COMMON NOTARY MISTAKES
1- Failing to Require Personal Appearance Personal appearance is the very foundation of notarization. Except in the few states where online or remote notarization has been legalized, personal appearance is …
12 TIPS FOR A HAPPY LIFE
1. Know yourself Something that’s clearer to me every day is that there’s no magic, one-size-fits-all solution for building a happy, healthy, and productive life. You have to know yourself: …
REQUIRED DISCLOSURES WHEN SELLING A HOUSE
What Are You Required to Disclose When You Sell Your Home? When you set out to sell a house, most states require you to make certain ?disclosures.? Disclosures refer to …
DUE ON SALE CLAUSE
Almost every single loan generated to buy a home contains a due on sale clause. This clause is important if a homeowner wants to sell the home without paying off …
WHAT IS A STEP UP TAX BASIS?
What is a Step-Up in Basis? A step-up in basis is the readjustment of the value of an appreciated asset for tax purposes upon inheritance. The higher market value of …
ASSIGNMENT OF CONTRACT
Assignment of contracts is the legal transfer of the obligations and benefits of a contract from one party, called the assignor, to another, called the assignee.3 What assignment of a …
PROPERTY BOUNDARIES
Property Boundaries: Everything You Need to Know Most of us don’t know where our exact property boundaries are located, and many of us don’t care. Most of us don’t know …
WHAT IS A REVERSE 1031 EXCHANGE?
To understand a reverse 1031 exchange, you should first make sure you know the ins and outs of a 1031 exchange. There are some key differences between a standard 1031 …
1031 EXCHANGE EXPLAINED
A 1031 Exchange, also called a Starker Exchange or Like-Kind Exchange is a powerful tax-deferment strategy used by some of the most financially successful investors. This is, perhaps, even more …
WHAT IS AGENCY?
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is …
WHAT IS A LIFE ESTATE?
The phrase “life estate” often comes up in discussions of estate and Medicaid planning, but what exactly does it mean? A life estate is a form of joint ownership that …
REAL ESTATE BROKERS, AGENTS, AND FORMS OF AGENCY
Generally, real estate brokers/ agents fall into four categories of representation: Seller’s Agents, commonly called “listing brokers” or “listing agents,” are contracted by owners to assist with marketing property for …
WHERE TREASURES HAVE BEEN FOUND IN HOUSES
Cash Hidden in the Wall You might think a treasure hunt means diving in the ocean to find sunken ships or exploring ancient ruins in faraway countries looking for hidden …