Mar
31
First in a 4-part series. The closing of a real estate transaction is both an occurrence that happens at a point in time and the culmination of multiple processes that result in the ownership of the property passing from the seller to the buyer. The “occurrence” aspect is simple: the seller conveys title to the …
Mar
29
…continued from our post about signing a buyer representation agreement… When you are ready to sign a buyer representation agreement, there are three key parts of it that are important to you. The first is the length of time covered by the agreement; this is known as the “term” of the agreement. A real estate …
Mar
29
The short answer is yes, but the question isn’t whether you need to sign a buyer representation agreement, it is: when should you sign a buyer representation agreement? A buyer representation agreement is a contract between you (a prospective home buyer) and a real estate broker. It outlines the terms under which the broker will …
Mar
29
In an attempt to get people to buy houses in 2010, the federal government enacted a series of tax credits to give money back to people who bought homes during the first part of 2010. It is truly a giveback: if you qualify for the credit, the government will give you money. For example, if …
Mar
22
Ah, you may have just found the Purchase Price Gotcha! Here’s a little-known problem to look out for. Especially in a time when local governments are short on staff and resources, property tax appraisers are often not able to accurately assess property values on a timely basis. So in a period of declining market values, …
Mar
22
Property taxes affect the amount of money that buyers must pay (and that sellers receive) at the closing of a real estate transaction. This is because of the timing associated with property tax payments. Often, property taxes are due at the end of the year. For example, property taxes for 2011 are due on December …
Mar
22
From the practical perspective of the homeowner or home buyer, property taxes can be a critical factor. Home buyers need to take two factors into consideration. First is the amount of property taxes you will have to pay. Some areas have higher property taxes than others. Property taxes vary by state, but they can also …