EVERYTHING YOU NEED TO KNOW ABOUT REAL ESTATE CONTRACTS
EVERYTHING YOU NEED TO KNOW ABOUT REAL ESTATE CONTRACTS A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real …
MULTIPLE STRUCTURES ON ONE PARCEL A PROBLEM FOR SELLERS
MULTIPLE STRUCTURES ON ONE PARCEL A PROBLEM FOR SELLERS “We have a beautiful home with 5 acres, and there is a second smaller structure on the property. We have been …
WHEN IS A TAX GAIN RECOGNIZED WITH A CONTRACT FOR DEED?
Tax Laws for the Seller of a Contract for Deed Can I Deduct Interest on a Rent-to-Own? In cases where qualified buyers are scarce, selling a home through a contract …
WHEN IS AN OFFER CONSIDERED ACCEPTED?
Acceptance of an Offer The second stage of contract formation is the acceptance of an offer by the offeree. An offeror is the person who makes an offer and the …
SPECIFIC PERFORMANCE
Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific action, such as to complete the …
RENT VS. BUY? ADVANTAGES AND DISADVANTAGES
Renting vs Buying: What to Choose Any grown-up person one day may get haunted by the idea of getting a house instead of renting one. Yes, I know, we?ve all …
5 PROBLEMS WITH SWIMMING POOLS
5 Common Swimming Pool Problems Who doesn’t like to swim in a pool? Whether we can swim or not, it’s fun being inside the pool especially with friends or family. …
WHAT MUST BE IN A PURCHASE CONTRACT TO BE VALID?
Requirements for a Real Estate Purchase Contract A real estate purchase contract?also known as a contract to purchase real estate or a residential purchase agreement?is a binding, bilateral agreement between …
JUDICIAL FORECLOSURE VS. QUITE TITLE ACTION
Judicial foreclosure refers to foreclosure cases that go through the court system. Foreclosure occurs when a home is sold to pay off an unpaid debt. Many states require foreclosures to …
DEATH AND REAL ESTATE
Understanding Ownership of Property When an estate planning attorney meets with a new client, one of the first questions the attorney asks is “What do you own and how is …
REAL ESTATE SYNDICATION
Both get a share of the profits based on time and money invested. Real estate syndication is an effective way for investors to pool their financial and intellectual resources to …
THINGS TO CONSIDER IF BUYING A PROPERTY TO USE AS AN AIRBNB
IT’S EASY TO SEE THE rise in popularity of Airbnb and other online vacation rental sites and think it’s a good idea to buy a property dedicated to short-term housing. …
HOW MUCH CAN A REALTOR GIVE AS A GIFT?
Closing gifts are almost as important in the real estate world as securing a home, at least it is if you want your clients to come back. Are you thinking …
CODE OF CONDUCT FOR REALTORS
Code of Conduct Thanks for choosing to participate in the exchange of ideas and information in the Missouri REALTORS?online community, THE LANDING. To ensure the best possible experience for all …
LLC FORMATION – WHAT TYPE IS RIGHT FOR YOU?
Types of LLC’s Domestic LLC: If your LLC is formed and operating within your state, this is a domestic LLC. Your state has the authority to govern your LLC if …
REALTOR DISPUTES – DO YOU NEED TO FIRE YOUR REALTOR?
It may be hard to believe, but I receive calls regularly from buyers and sellers that have become estranged from there realtor or feel they are being taken advantage of …
WATER DAMAGE REPAIR VS. REMEDIATE
How much does it cost restore water damage? Water may be a necessary part of life, but it can also do a tremendous amount of damage to your property if …
HOW TO HELP YOUR CHILDREN PURCHASE A HOUSE
When responsible first-time home buyers need help buying a home, the family bank can sometimes lend a hand. Younger home buyers face a mountain of obstacles, including rising home prices …
REAL ESTATE APPRECIATION
One site http://(www.realestateabc.com) cites a 6.34% annual appreciate rate since 1968. But, that does account for: state, city, county, or neighborhood variations. It doesn’t account for type of house (single …
THE INTERNET TURNS 30 TODAY
Today, 30 years on from my original proposal for an information management system, half the world is online. It’s a moment to celebrate how far we?ve come, but also an …
STATE BY STATE CLOSING GUIDE
ALABAMA Attorneys and title companies handle closings. Conveyance is by warranty deed. Mortgages are the customary security instruments. Foreclosures are non-judicial. Foreclosure notices are published once a week for three …
WHAT IS DISPOSABLE INCOME?
You?ve likely heard terms such as net income, gross income, adjusted gross income, take-home pay, and disposable income. But do you really know what each term means, both in definition …
KANSAS CITY REAL ESTATE INVESTMENT
Cycle-low construction at odds with tightening retail vacancy. As unemployment reached the low-3 percent range by the end of 2018, the retail environment in Kansas City remains well positioned for …
RISE OF CREDIT CARD DEBT
Rising interest rates are providing welcome relief to savers. As previously reported, earning at least a 2% APY on your savings from an FDIC insured bank account is now much …
3 STEPS TO BUILDING WEALTH AFTER 50
1. Leverage All of Your Savings Options While a 401(k) (or another employer-sponsored plan) is a good first stop for retirement savings, it’s not the only way to build your …
4 SIMPLE WAYS TO INVEST IN REAL ESTATE
Buying real estate can be more than just finding a place to call home. Most people have to do a real estate transaction at some point in their lives, and …
RENTING OUT ROOMS
Renting out a room in your house is sometimes favorable to leasing the entire property. It offers more flexibility for your own private use of the other rooms, and renting …
DO YOU NEED A REAL ESTATE LAWYER?
Do You Need a Real Estate Lawyer? In certain states, you cannot buy or sell a house unless a real estate lawyer is present. So unless you live in a …
COMMERCIAL REAL ESTATE FORECAST
2019 U.S. Commercial Real Estate Forecast Report The Kansas City retail market experienced another successful year throughout 2018 based on strong market fundamentals that fueled retail growth. Consumer confidence remains …
COMMON ERRORS MADE BY COMMERICAL LANDLORDS
This list summarizes some of the most common errors made by commercial Landlords and their property managers when they find themselves dealing with a defaulting Tenant. 1. LOCKING THE DOORS …
BUYING A HOUSE WITH A FRIEND
You already know it’s going to be fun. Here’s how to buy a house with a friend the smart way. Who says you have to have a romantic partner to …
MARITAL WAIVER IN MISSOURI – Kansas City Real Estate Law
MARITAL WAIVER IN MISSOURI Title companies are required as part of their job to request information in a real estate transaction. One of the most frequent requests involves requesting information …
LEGACY PLANNING
What is Legacy Planning Legacy planning is a financial strategy that prepares a person to bequeath his or her assets to a loved one or next of kin after death. …
2019 REAL ESTATE FORECAST
There’s no doubt about it: the 2018 housing market has seen its ups and downs. The year started with sky-high home prices, historically low mortgage rates and a definitive upper …
MECHANICS LIEN LAW IN MISSOURI
Notice provisions of Missouri’s mechanic’s lien statutes (R.S.Mo. 429.005.1, et seq.) grants general contractors, subcontractors, suppliers, and laborers the ability to assert a mechanic’s lien for labor and materials provided …
WHY REAL ESTATE BUILDS WEALTH
Inflation Inflation is something we all take for granted. The price of everyday goods increases on a gradual basis, and we have no choice but to pay the increased price. …
1031 EXCHANGE VS. OPPORTUNITY ZONE FUND INVESTMENT
No Fees: Almost all 1031 exchanges involve a 3rd party intermediary who charges a fee for the 1031 Exchange. Rolling into a Qualified Opportunity Fund has no fees for the …
FSBO STATISTICS
For Sale By Owner (FSBO) Statistics FSBOs accounted for 7% of home sales in 2017. The typical FSBO home sold for $200,000 compared to $265,500 for agent-assisted home sales. FSBO …
WHAT IS AN UNRECORDED EASEMENT?
What is an unrecorded easement? Easements (those rights someone else has to use part of your property) are typically recorded in the public records of the County in which the …
PROTECTING YOUR HOUSE AFTER MOVING INTO A NURSING HOME
Protecting Your House After You Move Into a Nursing Home While you generally do not have to sell your home in order to qualify for Medicaid coverage of nursing home …
11 QUESTIONS TO ASK IF YOU ARE THINKING FSBO
11 Questions to Ask If You’re Thinking ?FSBO? When the time comes that you decide you want to sell your home, the question you might ask yourself is, ?Should I …
CURRENT REAL ESTATE TRENDS
Okay, 2018 was quite the tease in the housing market. The year started out hot, only to taper off halfway through. But plenty of Americans still traded their For Sale …
7 SIGNS YOU ARE READY TO SELL YOUR HOUSE
7 Signs You’re Ready to Sell Your House Should I sell my house? If you’ve been asking yourself this question lately, we’ve got good news: It’s a great market for …
MINORS AND REAL ESTATE
There are times when a minor is in title. Maybe the deed from Mom & Dad says ?Susan B. Jones, a minor.? Or, when she shows up to sign papers, …
BUNDLE OF RIGHTS?
Bundle Of Rights What is a Bundle Of Rights A bundle of rights is a set of legal rights afforded to the real estate title holder. It can include the …
BABY BOOMERS
Will baby boomers turn into party poopers when they unload their homes in large numbers starting in the next decade? Could they create an indigestible oversupply in the market that …
REMODEL OR MOVE?
You?ve been in your house for a while and are still fond of the place. But it’s no longer exactly what you need or want. So, do you put the …
TIME VALUE OF MONEY
What is the Time Value of Money? The time value of money (TVM) is the concept that money available at the present time is worth more than the identical sum …
REAL ESTATE AND POLITICS
REAL ESTATE AND POLITICS Whether or not the average homeowner realizes it, politics is the most important factor influencing the price of real estate, affecting the state of the economy, …
FORCED VS. NATURAL REAL ESTATE APPRECIATION
FORCED VS. NATURAL REAL ESTATE APPRECIATION Real estate appreciation is far from being a new concept when it comes to real estate investing. Moreover, many real estate investors choose real …
WHAT IS A REVOKABLE LIVING TRUST?
WHAT IS A REVOCABLE LIVING TRUST?-A revocable living trust is a popular estate planning tool that you can use to determine who will get your property when you die. Most …
REAL ESTATE INVESTMENT – WHEN IS A GOOD TIME TO START REAL ESTATE INVESTING?
He is not a full man who does not own a piece of land.? REAL ESTATE INVESWTMENT – An old Hebrew proverb that still offers value in our modern-day lives. …
ESTOPPEL
Estoppel is a common law doctrine which, when it applies, prevents a litigant from denying the truth of what was said or done. The doctrine of estoppel by deed (also …
EASEMENTS
An easement is a property right that gives its holder an interest in land that’s owned by someone else. It’s common for people to lack a clear understanding of easements …
WHAT IS A CORRECTIVE DEED?
Once a deed is recorded, it becomes part of the public record and cannot be changed. However, sometimes an error in the recorded deed is discovered by one of the …
WHAT IS A NON-PROFIT?
When you think of a “nonprofit” what do you think of? Most likely, you think of a group making a difference in your community. Maybe you are thinking of a …
RISKS AND REALITIES OF CONTRACT FOR DEEDS
RISKS AND REALITIES OF CONTRACT FOR DEEDS While contracts for deed offer some advantages over a traditional mortgage, such as speed and simplicity, they can entail distinct risks for …
CLOSING A REAL ESTATE TRANSACTION
Closing a property deal can be a long and stressful exercise that involves lots of steps and procedural formalities. Closing occurs when you sign the papers that make the house …
SPEND YOUR MONEY ON EXPERIENCES NOT POSSESSIONS
Why You Should Spend Your Money On Experiences, Not Things When you work hard every single day and there’s only so much money left after your regular expenses, you have …
WHAT IS A PARTY WALL?
Party Wall A partition erected on a property boundary, partly on the land of one owner and partly on the land of another, to provide common support to the structures …
RECORDING REQUIREMENTS IN MISSOURI
Requirements for Recording Real Estate Documents The Following Documents Do Not Require A Legal Description For Recording. Death Certificates, Power of Attorneys, Wills, DD214, Certificates, and Miscellaneous Documents. The following …
HOUSING FORECAST – DECLINING NEW DEMAND
Take a step back from whatever housing data you normally look at. We’ll begin big picture with how many housing units are needed to accommodate changes in the United States. …
SINGLE-MEMBER VS MULTI-MEMBER LLC’S
Single-member vs. Multi-member LLCs A husband and wife can be considered a single-member LLC if owned in a community state. If you’re the sole owner of your LLC, the IRS …
WHAT ARE LIENS ON REAL ESTATE?
Attorney Whether by the homeowner’s choice or the actions of a disgruntled creditor or contractor, there are a number of ways that the owner’s title to the property can be …
CLOSING COSTS
Many homebuyers think that saving for their down payment is enough to buy the house of their dreams, but what about the closing costs that are required to obtain a …
WHAT IS A JUDGEMENT LIEN?
What Is a Judgment Lien? A judgment lien is created when someone wins a lawsuit against you and records the judgment against your property. What is your total debt? A …
FALL 2018 REAL ESTATE MARKET
Fall real estate market trends have started to take shape, and now is as good of a time as any to start deciphering them. What’s more, those investors that can …
ROLE OF MEDIATION
Real Estate Disputes come in all shapes and sizes. For instance, imagine a dispute where the seller disclosed the basement leaked a half an inch and the realty is the …
WHAT ARE MY OPTIONS IF I DISCOVER AN UNDISCLOSED DEFECT IN MY HOUSE AFTER TAKING POSSESSION?
What if something was wrong with your newly bought house at the time of purchase, and someone — the seller, the seller’s agent, or the inspector — could or should …
WHAT BANKS ARE LOOKING AT TO GET APPROVED FOR A HOME LOAN
Are you ready to buy a house, or in the planning stages of a home purchase? Either way, it helps to know what banks look for when they evaluate your …
WHAT IS A DEED IN LIEU OF FORECLOSURE?
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) …
3 REASONS WHY IT IS IMPORTANT TO PRICE YOUR HOME TO SELL
3 Reasons Why It’s Important to Price Your Home to Sell The ?right? price is one that’s in tune with what similar homes are selling for in your market. It’s …
KANSAS CITY HOME VALUES 2016 TO 2017
Missouri home values 2016 to 2017 Metropolitan area Q2 2016($000s) Q2 2017($000s) Change Cape Girardeau, MO-IL 148.8 146.5 -1.5% Columbia, MO 174.6 183 4.8% Kansas City, MO-KS 188.6 201.7 6.9% …
VERY GOOD TIPS FOR FIRST TIME HOME BUYERS
Buying a home can be nerve-racking, especially if you’re a first-time home buyer. These tips will help you navigate the process, save money and avoid common mistakes. We organized them …
11 QUESTIONS TO ASK IF YOU ARE THINKING FSBO
When the time comes that you decide you want to sell your home, the question you might ask yourself is, ?Should I list my home with a Realtor or try …
EVERYTHING YOU NEED TO KNOW ABOUT MISSOURI TAX SALE PROCESS
Missouri Tax Sale Process Getting Started Will I need special equipment or software? No. To participate in the auction from your own home or office, you need only have …
WHEN TO HIRE A REAL ESTATE ATTORNEY IN AN FSBO SALE TRANSACTION
Every seller pays for a real estate attorney or title company whether they sell a house with an agent or FSBO. Hire a lawyer to protect your home sale and …
CAN YOU SUE A SELLER IN MISSOURI FOR FAILURE TO DISCLOSE KNOWN ADVERSE MATERIAL FACTS?
CAN YOU SUE A SELLER IN MISSOURI FOR FAILURE TO DISCLOSE KNOWN ADVERSE MATERIAL FACTS? When you bought your home in Missouri, you assumed that it was in perfect condition. …
MILLENIALS ARE GIVING UP ON PURCHASING A HOME
Redfin CEO Glenn Kelman has been known for making some strong statements about the housing market, and last week he issued his latest proclamation, warning of a slowdown that is …
ZILLOW SHARES FALL 9% ON NEWS THAT IT PLANS TO START SELLING ITS OWN HOMES OFF OF THE PLATFORM
Zillow shares plunged 9 percent on Friday after the online real estate database company announced it will begin buying and selling homes, a capital-intensive endeavor. With Zillow’s new program,announced on …
FSBO STATISTICS
For Sale By Owner (FSBO) Statistics FSBOs accounted for 8% of home sales in 2016. The typical FSBO home sold for $190,000 compared to $249,000 for agent-assisted home sales. FSBO …
REAL ESTATE STATISTICS
Overview of the Real Estate Market 5.51 million existing homes were sold in 2017, according to data from the National Association of REALTORS?. 612,000 newly constructed homes were sold in …
FSBO – PROBLEMS TO LOOK OUT FOR
How to Sell Your House Without a Realtor You’re ready to put your house on the market, and you?ve decided to go it alone. Are you really saving money? By …
WHAT ARE THE SERVICES OF A REAL ESTATE BROKER?
Types of services that a broker can provide Real Estate Services are also called trading services by some jurisdictions. Since each province’s and state’s laws may differ, it is generally …
4 EASY STEPS TO A GREAT WHOLESALE DEAL
The real estate market is roaring back! And today’s market can be good news forwholesalerswho learn to capitalize on these opportunities. The real estate market is roaring back! One of …
10 HABITS OF SUCCESSFUL REAL ESTATE INVESTORS
Joint ventures, wholesaling and property management are just a few of the ways investors can profit from real estate, but it takes a little savvy to become successful in this …
FSBO WHEN TO HIRE A REAL ESTATE ATTORNEY
Every seller pays for a real estate attorney or title company whether they sell a house with an agent or FSBO. Hire a lawyer to protect your home sale and …
FSBO 11 BEST FSBO WEBSITES
11 Best For Sale by Owner Sites 2018 By Allison Bethell on April 22, 2018 | Real Estate Investing | Comments (4) A for sale by owner (FSBO) is a …
FSBO SELLERS IN A DOWN MARKET
Tough times can motivate, frustrate agent-less sellers Four years ago, when Judy Cruz decided to try to sell her house on her own, it couldn’t have been easier. She struck …
HOUSING TRENDS SINCE 1950: THE DIFFERENCE WILL SHOCK YOU
Housing Trends Since 1950: The Difference Will Shock You For the last few years, home buyers have done battle with some challenging housing trends: fewer homes to choose from, rising …
THE POST INDUSTRIAL ERA IS OVER
The Post-Industrial Era Is Over ByLESTER C. THUROW The sun is about to set on the post-industrial era. No one should mourn its passing. In the post-industrial era, service jobs …
HOW THE INTERNET CHANGED REAL ESTATE
How the Internet Changed Real Estate For many years, real estate agents were the single most important gatekeepers of information regarding local real estate. If you wanted to know which …
HOW TO FILE A MECHANICS LIEN IN KANSAS
Make Sure Your Kansas Mechanics Lien Has the Required Information It is crucial to make sure your Kansas mechanics lien contains all of the information specifically required by Kansas? lien …
TOP TIPS FOR FILING A MECHANICS LIEN IN MISSOURI
Drafting a mechanic’s lien and ?notice of intent? (?429.100) involves crucial steps that can be harmful to your case if overlooked. Whether you forgot to verify the ?just and true …
CHARACTERISTICS OF BUYERS AND SELLERS OF REAL ESTATE IN 2017
Buying a primary residence for home buyers is a financial decision but also an emotional decision that involves many lifestyle factors. For most home buyers, the purchase of am primary …
REAL ESTATE ASSIGNMENT CONTRACTS
Visualize a real estate purchase contract with just a few extra words added to your name as the buyer. This would look something like this: “Buyer: John J. Doe, and/or …
THE BASICS OF WHOLESALING REAL ESTATE
I’m not here to puff up real estate investing, nor to convince people that they can get rich quick in the business. However, there are people getting pretty nicely compensated …
CONTINGENCY CLAUSES IN HOME PURCHASE CONTRACTS
A contingency clause defines a condition or action that must be met for a real estate contract to become binding. A contingency becomes part of a binding sales contract when …
LONG TERM REAL ESTATE APPRECIATION RATE IN THE U.S.
Long-term real estate appreciation rate in the U.S. Before we talk actual real estate appreciation rates, let’s talk about why you’d want to know what they are in the first …
FSBO – 50 FREE MARKETING WEBSITES FOR FSBO SELLERS AND BUYERS
If you’re anything like me, you can ALWAYS use another online platform to advertise your property listings ? especially when that platform is FREE. In this blog post, I’m going …
FSBO – INSPECTIONS
Real estate inspection. The three little words can cause palpitations in even the sturdiest souls. For potential homebuyers, a real estate inspection means the house they have recently fallen in …
FSBO – 6 REASONS TO HIRE A LOCAL REAL ESTATE ATTORNEY
Buying or selling a home is best done with some assistance. Real estate brokers have access to the Multiple Listing Service in their geographical area and have obtained the educational …
FSBO – TOP 11 FSBO MARKETING WEBSITES
The top 11 FSBO Marketing Wesites To determine the best for sale by owner sites, we looked at a variety of factors including how much it costs to list your …
FSBO – THE IMPORTANCE OF TITLE INSURANCE
Title Insurance What is a Title? A title is the evidence or right a person has to the ownership and possession of land. A defect in the title can be …
TOP 10 REASONS TO HAVE YOUR PROPERTY SURVEYED
So, you think you know everything there is to know about the legal description of your property. If you had to, you could dig up that old plat and calculate …
CONSTRUCTIVE EVICTION
Simply stated, “constructive eviction” is a landlord’s act or failure to act that substantially interferes with or permanently deprives a tenant from using its leased premises. Constructive eviction relieves tenants …
MAKE RENT PAYMENTS ONLINE
PAY RENT ONLINE: LIST OF ONLINE RENT PAYMENT TOOLS Simplify your rent collection. Instead of waiting for those checks to come in the mail or going and collecting the rent, …
10 REASONS TO RENT AND NOT BUY
We all know the potential problems with renting ? rent hikes, strict pet policies and less control over fixtures and paint color choices, to name a few. But beyond the …
AVAILABLE INSPECTIONS FOR HOME BUYERS
A general home inspection is a necessary and common step in the home-buying process. However, there are other potentially important inspections that could affect your home purchase. Usually suggested by …
TITLE AGENCY E&O INSURANCE
Being an abstractor, title agent, escrow/closing agent, notary public, or title examiner is a complex responsibility with customers expecting superior performance and error-free results. For example, a loan closer performed …
10 TIPS FOR RENTERS
Communication Considering that nearly 35% of Americans currently reside in approximately 40 million rental units throughout the country it is surprising that so few of us really understand how to …
COMPARING COMMERCIAL AND RESIDENTIAL REAL ESTATE
Comparing commercial real estate to residential real estate is like comparing apples to oranges. Both are from the same genre, but that is where the similarities end. The following are …
THE PSYCHOLOGY OF REAL ESTATE
If you’ve ever house-hunted, you’ve probably got a sense that real estate purchases don’t represent consumers at their most rational. Did you like a house or apartment more, or less, …
A REAL ESTATE AGENTS VIEW OF FSBO TRANSACTIONS
PRICE Homeowners believe they will save the real estate commission by selling on their own, and while that may be true, studies have also show that homeowners net more money …
THE DISCLOSURE STATEMENT AND LIABILITY-UNDISCLOSED DEFECTS
You recently moved into your new home. Prior to closing, you had an inspection performed and reviewed the Seller Disclosure. However, after the first rain storm you realize there are …
HIGHER RATE OF HISTORICAL RETURN – REAL ESTATE VS. STOCK MARKET
For the majority of U.S. history – or at least as far back as reliable information goes – housing prices have increased only slightly more than the level of inflation …
FILE AFFIDAVIT AFTER DEATH OF GRANTOR OF A BENEFICIARY DEED
Missouri Affidavit as to Death of Grantor The Nonprobate Transfers Law of Missouri, Sections 461.003 to 461.081 RSMo (2012) has been in effect since 1989. While the law is specific …
WHAT IS A TRANSACTIONAL REAL ESTATE ATTORNEY?
Transactional Real Estate Law January 17, 2013, By Guest Blogger By Troy A. Rule, Associate Professor of Law Almost every successful company needs physical space in which to operate. Consequently, …
AN AGENTS VIEW OF FSBO
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their homes on their own, known in the industry as a …
FSBO VS AGENT?
SOURCE UNKNOWN HTTPS://FSBOMIDWEST.COM FSBO VS. AGENT Have you seen the claim that research shows that real estate agents sell homes for 13% higher prices than people who sell their homes …
MARRIAGE AND REAL ESTATE
Did you know that it matters whether or not a person is married when they are buying or selling a house? In Missouri, married people have marital rights to any …
6 TYPES OF HOME LOANS
If you’re shopping for a home, odds are you should be shopping for a home loan as well?and these days, it’s by no means a one-mortgage-fits-all model. Where you live, …
HOUSING TRENDS SINCE 1950: THE DIFFERENCE WILL SHOCK YOU
Housing Trends Since 1950: The Difference Will Shock You For the last few years, home buyers have done battle with some challenging housing trends: fewer homes to choose from, rising …
TOP TIPS FOR FILING A MECHANICS LIEN IN MISSOURI
Drafting a mechanic’s lien and ?notice of intent? (?429.100) involves crucial steps that can be harmful to your case if overlooked. Whether you forgot to verify the ?just and true …
5 TRICKS TO SAVE CASH ON REALTOR COMMISSIONS
The average 6 percent sales commission that most real estate agents get is a high price to pay, especially if you believe economists who say that realtors don’t sell homes …
HAS THE INTERNET KILLED REAL ESTATE AGENTS YET?
Has the Internet killed real estate agents yet? Back in 2002 when I was first interested in buying a house, I went on the Internet and found lots of houses …
TENANTS IN COMMON VS. JOINT TENANTS
What’s the Difference Between Joint Tenancy and Tenancy in Common? When two or more people own a home, either as a joint tenancy or tenancy in common, each individual owns …
THE AMERICAN DREAM
In 2007, the U.S. economy entered a mortgage crisis that caused panic and financial turmoil around the world. The financial markets became especially volatile, and the effects lasted for several …
HOW SOCIAL MEDIA IS BEING USED TO SELL REAL ESTATE
It’s crucial for home sellers and agents to remain active on social media Millennials now make up 66 percent of the market for first-time homebuyers, and 99 percent of those …
WHAT IS AN IMPLIED-IN-FACT CONTRACT?
An implied-in-fact contract is a form of an implied contract formed by non-verbal conduct, rather than by explicit words. The United States Supreme Court has defined it as “an agreement …
REMEDIES FOR BREACH OF CONTRACT
What are the Remedies for Breach of Contract? There are several remedies for breach of contract, such as award of damages, specific performance, rescission, andrestitution. In courts of limited jurisdiction, …
THE 4 CORNERS RULE FOR CONTRACT DISPUTES
One thing to keep in mind when it comes to contract disputes is that judges will typically reduce the dispute to the lowest common denominator, that is, they’ll narrow the …
12 WAYS TO FOUL UP A REAL ESTATE TRANSACTION
12 Ways to Foul Up a Real Estate Transaction By Evan L. Loeffler One would think that the transfer of ownership of real estate from one party to another should …
MCDONALD’S IS A REAL ESTATE COMPANY
The success of McDonald’s can be attributed in part to the taste of the iconic fast food chain’s shakes and burgers. But the real secret sauce has everything to do …
REAL ESTATE AND MARRIAGE
Real Estate and Marriage Married couples usually own most, if not all, of their valuable property together. If you want to leave everything to your spouse, as many people do, …
WORLD WAR II – WOW HOW THINGS HAVE CHANGED IN REAL ESTATE !!!
The most deadly and widespread war in modern history acted as a devilish bellows on the fire of the American economy. Developments in industry, aviation, medicine, electronics and atomic energy …
THE PROBATE PROCESS
The Probate Process The process unofficially ?begins? when a person dies. The person who passed away, known as the decedent, may or may not have left a will (or may …
LAWYERS ROLE IN A RESIDENTIAL REAL ESTATE TRANSACTION
The purchase of a home is often the largest transaction a person will undertake in a lifetime. As a result, a prospective home buyer should take all precautions possible to …
FIXER RATE VS ADJUSTABLE RATE? 15 YEARS VS 30 YEARS
Fixed-Rate vs. Adjustable-Rate Mortgage (ARM) Most every type of home loan program will offer the option of a fixed-rate or an adjustable-rate mortgage. A fixed-rate mortgage will have the same …
UTILITY EASEMENTS
Don’t be startled to discover that you must ‘share? part of your land. In certain types of real estate transactions, it’s not until the middle of the deal that home …
REAL ESTATE PLATS SURVEYS
Plats and Surveys. What do these words mean? If you?ve recently purchased or acquired a tract of land and plan on dividing it, adding to it, or otherwise developing it, …
FSBO vs REAL ESTATE AGENT? ADVANTAGES AND DISADVANTAGES
Selling your home on your own is doable and maybe you don’t need a professional to get the job done but there are some things to consider before committing to …
RESIDENTIAL VS. COMMERCIAL INVESTMENT? ADVANTAGES AND DISADVANTAGES
What’s better – single family rentals or multifamily properties Even in times like these, as commercial real estate is heating up and it’s more difficult to find good deals, investors …
CAPITAL GAINS ON PRIMARY RESIDENCE
Homeowners already know the many tax breaks that Uncle Sam offers, most notably mortgage interest and property tax deductions. Well, he also has good tax news for home sellers: Most …
WHAT IS WHOLESALING REAL ESTATE
Real estate wholesaling occurs when a party (the “wholeseller”) contracts with a home seller, markets the home to potential buyers, and then assigns the contract to one of them. The …
START REAL ESTATE INVESTING AS EARLY AS POSSIBLE
There’s this old saying that says the best time to plant a tree was twenty years ago. The second best time is now. That especially applies to investing. It’s never …
6 REAL ESTATE TRENDS TO LOOK FOR IN 2018
In 2017 Americans learned to expect the unexpected, whether it be politics, weather or housing. Driven by record low inventory, little about the housing market went as forecast last year. …
NEW TRENDS EMERGING IN REAL ESTATE – 2018
As the real estate market continues to evolve, new trends are emerging for 2018. Buyers will be more in control as the housing supply will finally catch up with buyer …
REAL ESTATE AND DIVORCE
When you’re divorcing, one of the questions curious friends and family eventually ask is, ?So . . . are you going to keep the house?? While a simple answer would …
RENTING VS. BUYING?
At what cost, percentage wise, is it better to rent than buy, if you plan on staying at a given location forever? Buying a home is likely the most expensive …
HAVE A REAL ESTATE LAWYER REVIEW YOUR DOCUMENTS !!!
Almost all real estate transactions begin with the signing of a real estate contract. This document is the most important document in the entire transaction. The contract sets forth the …
CAN A DRIVEWAY EASEMENT BE TERMINATED?
If you’ve been sharing a driveway with your neighbor for years courtesy of an easement on your property, there could come a time when the arrangement no longer works for …
IS POSSESSION REALLY 9/10THS OF THE LAW?
Possession is nine-tenths of the law is an expression meaning that ownership is easier to maintain if one has possession of something, or difficult to enforce if one does not. …
IS IT OK TO BREAK UP WITH YOUR REAL ESTATE AGENT? IF SO HOW?
Buying or selling a home rarely happens overnight, and it’s not uncommon for buyers or sellers to interface or even work with multiple agents. Best-case scenario, the right agent shows …
TENANTS IN COMMON OR JOINT TENANCY?
In Missouri, as is the case in other states, both real and personal property may be titled in many different ways. An individual may hold title to property. A corporation …
GIFT TAXES
A gift occurs when a voluntary transfer for less than full consideration or compensation occurs from a donor to a donee. A valid gift must satisfy the following criteria, to …
HOW MEDICAID RECOVERS THE COST OF LONG-TERM CARE FROM YOUR ESTATE AFTER YOU DIE
If Medicaid pays for nursing home care, the state can try to collect reimbursement for these costs from the person’s assets after he or she dies. Medicaid will often pay …
10 RESIDENTIAL REAL ESTATE SCAMS
1. Hackers Stealing Your Down Payment “A hacker could fool you into thinking he’s your agent and trick you into sending him money, which you’ll never get back. It’s so …
WHAT IS THE DIFFERENCE BETWEEN A MORTGAGE AND DEED OF TRUST?
Promissory Notes To fully understand the difference between a mortgage and a deed of trust, you must first understand promissory notes. Homebuyers usually think of the mortgage or deed of …
ADVANTAGES AND DISADVANTAGES TO OWNING A HOME
Owning a home is the fulfillment of the American dream. For others, it is their worst nightmare. Purchasing a home is one of the biggest financial decisions you will make …
ADVANTAGES OF AUCTIONING YOUR PROPERTY
An auction is a highly efficient and expeditious way to sell any type of real estate. The terms are straightforward and competitive bidding generates market value. Below are some key …
YOUR REALTOR NOT REPRESENTING YOUR INTERESTS?
It may be hard to believe, but I receive calls regularly from buyers and sellers that have become estranged from there realtor or feel they are being taken advantage of …
FSBO TRENDS IN THE MARKETPLACE
FSBO TRENDS IN THE MARKETPLACE The traditional way of selling real estate continues to change exponentially because of 1) a general dislike of real estate agents, 2) the desire to …
How do 20 somethings pay there rent? What is the effect of parental support of 20 somethings?
Almost half of people in their early 20s have a secret, one they don’t usually share even with friends: Their parents help them pay the rent. Moving into adulthood has …
Airbnb is facing an Existential Expansion problem
Airbnb Is Facing an Existential Expansion Problem Tom Slee JULY 11, 2016 Surprisingly, the new Airbnb ad campaign exhorts you not to be a tourist: ?Don’t go to Paris, don’t …
Ackowledgement vs Jurat – 2 forms of notarial acts
Acknowledgement and jurat certificates are the two most common notarial acts, yet there is confusion about the difference between these forms for many signers. Some notaries even find it difficult …
Technology – Society and Laws cannot keep up with pace of changes
Employers can get into legal trouble if they ask interviewees about their religion, sexual preference, or political affiliation. Yet they can use social media to filter out job applicants based …
THE IMPORTANCE OF A REAL ESTATE LAWYER IN A REAL ESTATE TRANSACTION
A Lawyers involvement in residential house sales began dwindling in the 1980s with the advent of HUD regulations requiring title insurance for mortgages, secured by residential properties, which were being …
Disclosures in Real Estate Transactions
Why Is “Full Disclosure” Important? In business transactions, especially real estate deals, the contract often contains a full disclosure requirement. Full disclosure means being truthful and forthcoming about anything the …
Is being a landlord it worth it? Six big challenges.
Real estate! It’s the way to make money ? or so some people claim. On the surface, it seems likes like a surefire bet; in reality, it’s usually more headache …
Missouri Constructive Eviction Law for Tenants to use as Affirmative Defense
TENANT?S DEFENSES The most common complaints made by tenants deal with the condition of the property. Major problems that affect the habitability of the premises are covered by therelated doctrines …
real estate wholesaling. Limitation of risk and capital
Real estate wholesaling is similar to flipping except that the time frame is much shorter and no repairs are made to the home before the wholesaler sells it. A real …
Renting Out Part of Your Home What to Expect for Income and Repairs
You want extra income and you just happen to have extra space in your house. What could be more logical than turning a portion of your home into a small …
Kansas City Real Estate Lawyer – Missouri Legal Online Services: Book a video call for help with legal needs: Beneficiary, Quit Claim Deeds, Contract Review, Trusts, Disputes, Marital Waiver, Investments, Commercial & Residential articles below.
REAL ESTATE LAW Transfer-on-Death Deeds A transfer-on-death (TOD) deed, or beneficiary deed, allows an owner of real property to execute a deed that names a beneficiary who will obtain …
Common reasons why foundations fail
NONPOROUS BACKFILL. Soils loaded with clay or organic matter hold water like a sponge, increasing the risk of foundation cracks when the soil freezes and expands. RUSHING THE CURE. Concrete …
Tips on Rental Real Estate Income, Deductions and Recordkeeping
Tips on Rental Real Estate Income, Deductions and Recordkeeping If you own rental real estate, you should be aware of your federal tax responsibilities. All rental income must be reported …
By Michele Lerner December 5, 2013 If you?ve toured a newly built model home recently, you may have noticed a few things missing: a formal living room or the once-popular …
Here’s a closer look at the trends that will have the greatest impact on the housing market in 2016.
1. We’ll return to normal (Anyone remember normal?) The year ahead will see healthy growth in home sales and prices, but at a slower pace than in 2015. This slowdown …
TERMS THAT SHOULD BE IN EVERY LEASE AGREEMENT
1. Severability Though a legal precaution, this?is perhaps one of the most important clauses in a lease. This clause states that if?one aspect of the lease is found to be …
Very Important if you are considering buying a rental property
From the first decision to invest in real estate to actually buying your first rental property, there is a lot of work to be done. This task may be daunting …
What to do if you are upside down on your home.
Written By: Miranda Marquit Right now, I am in the process of a cross-country move. As part of this move, my husband and I have decided to sell our home. …
Inheritance Law and Your Rights
Inheritance law governs the rights of a decedent’s survivors to inherit property. Depending on the type of inheritance law your state has, a surviving spouse may be able to claim …
Size Impropriety In Land Value Analysis-Land Valuation
A common public misconception is that “per unit” land values apply universally within a market locale. That is, a three acre site is sometimes thought to command the same “per …
Different definitions and forms of residential real estate
Single-Family Home – The most common definition of a single-family home is: An individual, freestanding, unattached dwelling unit, typically built on a lot larger than the structure itself, resulting in …
Real Estate Brokers/Unauthorized Practice of Law?
Unlike attorneys, real estate brokers do not have the same professional duties of loyalty to their clients. In many states, brokers are permitted by law to engage in “dual agency.” …
Sellers Disclosure Statement
The Riskiest Business Property condition disclosure is a major legal risk for brokers today, according to findings from NAR’s new Legal Scan analysis. OCTOBER 2011 | BY G.M. FILISKO The …
Enforcing a Judgement for Possession in Missouri
Your first priority may be to evict the tenant from the leased premises, which you will be entitled to do if you obtained a judgment for possession. Caution: To avoid …
Pros and Cons of being a Real Estate Agent
Would you like a career with a stable and steady income, guaranteed days off and a five-day workweek? Then being a real estate agent is NOT the job for you. …
Being a landlord: Is it worth it?
by Ellen Cannon Published on October 18th, 2012 This is a guest post from Holly Johnson. Holly is a 32-year-old wife, mother of two, and frugal lifestyle enthusiast. She blogs …
The incredible shrinking work space
The ?open office? environment has become increasingly popular as many corporate clients have made a concerted effort to reduce their real estate footprint while increasing collaboration among employees. The traditional …
Disclosures in A Residential Real Estate Transaction
Disclosing Defects When Selling a Home When a person is selling a home, they are generally obligated to disclose any material defects?or problems in the property. While laws covering full …
How are property taxes calculated?
By Chris Seabury ?| Every year, millions of homeowners deal with property taxes. In most situations, when the tax bill comes, if it seems reasonable, most people would pay it …
Is your neighbor or someone else stalking you? If so what can you do?
What if you live in Missouri and have a next door neighbor that has made living next to a living hell?. ?Such as spotlights being placed on the house so …
Here is a very good link for what sellers should do first before hiring a real estate agent
http://www.bankrate.com/finance/real-estate/to-do-before-hiring-agent-1.aspx
Right to Marry Ruling: How it Affects Beneficiary Rights
by John Paul Ruiz, QKA, CISP, Director of Professional Development on Jun 29, 2014 On June 26, 2015, the U.S. Supreme Court lifted the ban on same sex-marriages in the …
Overview of real estate markets
The main participants in real estate markets are: Owner/user: These people are both owners and tenants. They purchase houses or commercial property?as an investment and also to live in or …
Avoid Common Title Problems By Better Understanding the Different Types of Ownership
We often hear from taxpayers — all well-intentioned — who lost or seriously compromised their valuable exemptions or Save Our Homes (SOH) protection when they made ?do-it-yourself? changes to a …
Joint Tenancy
What is a Joint Tenancy? Joint tenancy is a form of ownership by two or more individuals together. It differs from other types of co-ownership in that the surviving joint …
Tenancy by the Entireties exemption for Married Couples Holds ? Case Law Update
By Kansas City Divorce Attorney Mark Wortman on February 8, 2009. The Missouri Court of Appeals for the Southern District of Missouri has just recently upheld the Missouri exemption (protection …
10 Things Landlords Should Know About Fair Housing
By Kristi Bunge Sounds pretty simple if there are just 10 things to advise Landlords about with regard to fair housing law. Unfortunately there are more than just the 10 …
How to Profit From Your Basement Rental
Renting out part of your home can boost cash flow, but first take a look at what it takes to be a landlord. By Pat Mertz Esswein, August 2011 Homeowners …
Current state of the real estate market (2015)
Wild fluctuations in the nation’s real estate cycle have taken investors on a roller coaster ride since the early part of this century. From the first decade, marked by overheated …
Current state of the Kansas City Real Estate Market
KC Star 12/4/2015 Over the past five years, the Missouri housing market has been slow to recover. However, some argue the market’s recovery started in 2011. It wasn’t until 2012, …
Beware of garage doors
From Kansas City Star 7/22/2015 – You pass through it every day, often multiple times a day. Heading to work. Dropping the kids off. Running errands. The garage door has …
Illegal use of premises in Missouri
Be carefull what you do if you are a tenant. ?Missouri law allows a landlord an expedited proceedure for eviction in the case of certain illegal uses of the premises. …
Boundry Disputes
Humans have the territorial instincts of jungle beasts. Boundary disputes costing thousands of pounds in legal and surveyors’ fees are often fought over a few centimetres. A spiral of charges …
REAL ESTATE TRENDS 2015
BY BETH BRAVERMAN, The Fiscal Times March 27, 2015 Along with green shoots and chirping birds, one sure sign of spring is popping up in neighborhoods across the country: For …
Population growth north of the river remains a key asset in creating a more vibrant future for Kansas City.
BY YAEL T. ABOUHALKAH abouhalkah@kcstar.com Welcome to the fastest-growing county in the Kansas City area, where houses, schools and shops are being built to serve a flood of new residents. …
The Tax Benefits of Equity Real Estate Investing
Written by Realty Mogul Equity real estate investing has real tax benefits The tax benefits of real estate investing are attractive, but until recently many investors had difficulty participating in …
Seller Financing
Seller financing can be a useful tool in a tight credit market. It allows sellers to move a home faster and get a sizable return on the investment. And buyers …
Foreclosures Further Fade Away
DAILY REAL ESTATE NEWS | WEDNESDAY, JUNE 10, 2015 Foreclosure inventory plunged nearly 25 percent in April as the number of completed foreclosures which reflect the total number of homes …
Winners and loosers if inflation rises
The word “inflation” strikes fear into the hearts of many Americans. It conjures worries of a stagnating economy, rising prices, a falling dollar and an income that just can’t keep …
Financial gain better for the older generation
Most Americans suffered serious losses during and after the recession, knocked off balance by layoffs, stagnant pay, and the collapse of home values. But apart from the super-rich, one group’s …
Real Estate Services Available
Real Estate Services: Construction Law Purchase Agreements Financing Refinancing Title Insurance Claims Title Examination Short Sales Foreclosure Sheriff’s Sale Trustee’s Sale Eminent Domain Condemnation Loan Documentation Commercial Transactions Boundary & …
Ted Ehney Jr. – Second Chances
ROB ROBERTS | KCBJ A partnership led by Ted Ehney Jr. plans to redevelop this tower and attached annex at 601 Minnesota Ave. in Kansas City, Kan., into a mixed-use …
Non Traditional Home Sales – Seller Financing, Lease Purchase, Installment Sales
In today’s changing market homes are selling in more “nontraditional” ways than in the recent “bubbly” past. ?The three most common varieties of nontraditional sale are private money (otherwise known …
New Ways to Profit From Renting Out Single-Family Homes
By ANNAMARIA ANDRIOTIS Two-and-a-half years into the U.S. housing recovery, the real-estate industry is rolling out new ways for individuals to invest in the property market. Brokers, property managers and …
Kansas City: Real Estate and Market Trends
By Than Merrill? ?Over the past five years, the Missouri housing market has been slow to recover. However, some argue the market’s recovery started in 2011. It wasn’t until 2012, …
Sellers market
May 28, 2015 Kent Hoover Sellers are in the driver’s seat in the housing market since there are lots of buyers looking at a limited number of houses. Sellers are …
All cash buyers……
One in three buyers of U.S. homes is paying cash, a record high number, according to data made available to McClatchy Newspapers. The trend is being driven by retiring baby …
KCLAWYER serving the following Missouri communities
kcrealestatelawyer – Mark A. Roy – ‘serves clients in Jackson County, Clay County, Platte County and Ray County and the communities of Kansas City, North Kansas City, Raytown, Grandview, Lee’s …
If you plan to buy your first home, trade up to a larger home, or downsize now that your children are out on their own, or are in the process of selling your property, Mark A. Roy, a real estate lawyer can provide you with insight and legal guidance from start to finish.
If you’re a buyer, our lawfirm can: Explain the terms of your purchase contract Protect you from hidden liabilities with respect to your new home Review real estate documents that …
Does bankruptcy ever make sense?
Filing bankruptcy can be a long-term solution for some people, depending on what the debtor is trying to accomplish. ?Benefits provided by bankruptcy: Surrender ? If a debtor wishes to …
From Broke to $4,600/Mo in Passive Income By Age 28
By Brandon Turner I knew it would be the worst day of my life. Throughout my childhood and teen years, I saw it coming. And it scared me to death. …
US Home ownership rate will be at a plateau for several more years
Only about one in four former homeowners who lost property during the housing crash will soon become buyers again as tight credit keeps many out of the U.S. real estate …
Are the days of Real Estate Investment over?
Real estate has been one of the best performing assets since 2009. No, we’re not talking about regular people’s homes. The biggest gains have come from so-called real estate investment …
The effect of Inflation on Housing Prices
A house is a better hedge against inflation than a savings account. Inflation is often defined as a sustained increase in prices for a broad range of goods. Economists explain …
THE NEW URBANISM TREND: LIVING AT THE SHOPPING CENTER
THE NEW URBANISM TREND: LIVING AT THE SHOPPING CENTER The 10-year-old Zona Rosa, the $200 million mixed-use neighborhood up north at Barry Road, is largely credited as jump-starting the latest …
Tips on staging your home for showing prospective buyers
Even with forecasts for a rise in home-improvement spending this year, it’s still going to be a challenge to convince sellers to pay for upgrades that will please buyers. But …
Getting your mortgage paid quickly and not over 15-30 years
For most people, a 30 year mortgage is the easiest path to home ownership. While a 30 year loan makes it a lot easier to land a new home, it’s …
Ten Landlord Legal Mistakes to Avoid
Asking Discriminating Questions A landlord should refrain from asking certain questions to a prospective tenant. This is one of the more serious legal mistakes that landlords make. Because the federal …
Trends in residential real estate
BY BETH BRAVERMAN, The Fiscal Times March 27, 2015 Along with green shoots and chirping birds, one sure sign of spring is popping up in neighborhoods across the country: For …
Is forgiveness of debt on a home loan taxable income?
Unfortunately – this act expired December 31st, 2014, however the exceptions below are still in effect. The Mortgage Forgiveness Debt Relief Act and Debt Cancellation If you owe a debt …
Traditional Sale vs. Auction?
When you hear of a property going to auction, do you immediately assume that the property is in the hands of a bank or a foreclosure company attempting to recover …
Hire an agent or attorney? Get both – Mark A. Roy Attorney/Broker(agent)
It’s no secret that real estate agents earn high commissions. Although the commission is usually paid by the seller, the cost may be indirectly passed on to you. And real …
3 keys to success for investors
Investors should consider three keys to success: 1. Pay off the mortgages. Assuming you purchase property that is profitable from the start, not having a mortgage every month can significantly …
REAL ESTATE SALES SUGGESTIONS
Selling your house can be one of the most tense and emotional tasks you will face in your life. For most, the house became a place to express yourself and …
Sellers Market
All numbers appear to be indicate that as of today 4/9/2015 it is a seller market. If you have a portfolio of properties to sell this would be a great …
Homebuilder confidence is falling
Homebuilders’ confidence fell in October 2014 after four months of gains that had pushed the indicator to the highest level in nine years.
Mortgage rates tumble
Mortgage rates tumbled this week. The 30 loan hit its lowest since June 2013 as Treasury bond yields marked new lows amid concern over global economic weakness.
KC Area sees home sales decline slightly, but prices rise
Sales of new and existing homes was down 1% from July 2013. Existing home sales fell 1% but new home sales were up 2% from 1 year ago. The average …