PURCHASING A PROPERTY SUBJECT TO
What Buying Subject-To Means Buying subject-to means buying a home subject to the existing mortgage. It means the seller is not paying off the existing mortgage. Instead, the buyer is …
REPAYING THE FIRST TIME HOME BUYERS CREDIT
Have you claimed the first-time homebuyer tax credit? For some buyers, it’s time to start repaying Uncle Sam. Introduced in 2008, the first-time homebuyer tax credit originally was a type …
ASSIGNMENT AND ASSUMPTION AGREEMENTS
The Assignment and Assumption Agreement An assignment and assumption agreement is used after a contract is signed, in order to transfer one of the contracting party’s rights and obligations to …
EXECUTORS DEED VS. ADMINISTRATORS DEED
What is the difference between an executors deed and an administrators deed? When dealing with the distribution of an estate after a person dies, you will likely either hear the …
IS AN ORAL AGREEMENT FOR THE SALE OF REAL ESTATE ENORCEABLE IN MISSOURI?
IS AN ORAL AGREEMENT FOR THE SALE OF REAL ESTATE ENORCEABLE? Generally, a verbal contract is binding in Missouri. However, there are certain circumstances in Missouri when a verbal contract …
CHECKLIST OF CLOSING DOCUMENTS
Checklist of Closing Documents for Home Buyers So, what kind of paperwork will you have to sign when you close? While the process can vary from one borrower to the …
WHAT IS A FINAL WALKTHROUGH?
What Is a Final Walkthrough? A final walkthrough is just like it sounds—it’s a walk through the house you’re about to buy. It’s an opportunity for you and your real …
SPECIAL WARRANTY DEED
What Is a Special Warranty Deed? Although general warranty deeds are more common in residential real estate transactions, there is one area where the special warranty deed becomes the norm. …