Real Estate Information | Let us create a 3d Digital eBook for you! DigyCat.com |
|
Home Owners: Disclose the Facts!
One of the most common causes for disputes occurring after the sale of a home arise from the buyer finding defects in the property, defects which were not disclosed to him by the owner before the sale of the property. If you are the owner of a home that you are looking to sell, please be aware that you may be held liable for not disclosing any known defects in your home. The statutes governing seller obligations vary with each state. Some states require a seller to complete a questionnaire about their property's condition; in other states, disclosures can be made verbally. In some states, seller disclosures are voluntary. The only sellers excluded from disclosure laws are banks and mortgage companies with foreclosure properties. In addition to the state laws, there are certain federal laws as well which govern what needs to be disclosed. For instance, federal law requires sellers of homes built before 1978 to disclose any known lead hazards. Some real estate companies may also ask you to disclose all known material facts about your home before they decide to take up your home listing. Some facts may affect one buyer while it may not affect the other. If you're confused about what you need to disclose, then consult your real estate agent or property attorney. To keep it simple, as an owner you should put yourself in the shoes of the buyer and decide what you would need to know about the house before you decided to make the purchase. If you have to make the sale, make sure it goes through smoothly. There have been many instances of lawsuits arising from owners not disclosing important material facts about their home. Sameer S Panjwani is the CEO and Founder of ChoiceOfHomes.com - Real estate listings of homes on sale and rent.
MORE RESOURCES: |
RELATED ARTICLES
Vegas: The New Frontier Unless you have been living in Siberia, you know that Real Estate is on fire in many places around the country. In fact, you would be hard pressed to find a city where this was not the case. Selling A Home - What Attachments Stay or Go? The home selling and buying process can be confusing. This is especially true when it is a FSBO (for sale by owner) operation. Cutting Edge Real Estate, Is the Bubble Ready To Burst? Of course, this is the big question in real estate now. . How Much is that House in the Window? With the recent release from the UK's biggest mortgage lender, the Halifax, of its latest house price report for May 2005, showing that prices fell by 0.6% last month, and prices falling just 0. Renting a House Renting a house or a room in your home is a great business that millions of people take advantage of to make some extra cash. While many people rent houses each year, not all of them are successful. From Foreclosure to Forbearance - The Art of Negotiation As an active real estate investor you probably already know that the most important phase of your investment is when you buy the property. Most of us are getting the bargains in the foreclosure market. The Secret Jewel in the Mediterranean Crown Since the Northern Cypriots famously voted 'yes' to the UN backed Annan plan for the peaceful reunification of Cyprus in 2004 the world has awoken to the secret and hidden beauty of this untouched jewel in the Mediterranean crown. Those open-minded and individual thinkers seeking elegant living, unrivalled Mediterranean-region investment property opportunities or their own hideaway are today embracing Northern Cyprus. Escalation Clauses - A Home Buyers Secret Weapon Today we discuss escalation clauses because much of the country is experiencing an extreme "sellers' market." By that, I mean there are more buyers than there are sellers, and that results in sellers' getting more than one offer to buy their property. Afford A Dream Home In Belize Shopping for property in Belize is not as simple an undertaking as you might initially expect!Firstly, real estate agents as we know them are non existent! Real estate brokers that do exist are likely to be unlicensed, unregulated and certainly not trained or insured.Secondly, the majority (and I mean the majority) of property for sale is not advertised!But with property prices remaining affordable, the quality of property available attractive, the climate beautiful, the people welcoming, the quality of life incredible and the opportunities in Belize plentiful, more and more people need to know HOW they can go about procuring themselves their dream home in Belize. What is Tax-Deferred Exchange? Under Section 1031 of the Internal Revenue Code, owners of real estate held for investment or use in a trade or business can swap their property tax-free for "like-kind" real estate.Exchanges are made for people wanting to stay invested in real estate, increase their leverage and to avoid paying hefty taxes upon the sale of property. Buying Your First Investment Property "Begin With The End In Mind"I first heard the phrase "Begin with the end in mind" in a Steven Covey book called "The 7 Habits of Highly Effective People". This expression makes a lot of sense because the fact is, you can't get where you're going, unless you know where you want to go. Real Estate Investing Requires Education I really believe in getting an education in real estate investing, especially before launching a real estate investing career. I have been investing in real estate for 25 years, but I still spend thousands of dollars each year to learn more about real estate investing. The Sadness of Old Buildings From the book No Smooshing!For years, I've carried on a not-so-friendly debate with some of my artist friends from the West Coast about their ideas of what constitutes a good subject. We seem to be able to agree on certain things, like apples and oranges-and even certain landscapes. Purchasing International Real Estate Interested in investing somewhere other than your back yard?Management companies have made it as easy to have a revenue property across the world as it is to have it across the street. You don't want to be collecting rents and plunging the toilets no matter WHERE it is!Different laws in different countries means some research is definitely in order. Renting Versus Buying A Home Renters are often in a quandary as to whether it makes sense to continue renting or buy a home. Buying a home makes more sense, particularly when taking a long-term view. Why I Love Country Living As somone who has lived in both places, I can tell you that country living certainly beats the hustle and bustle of city life! Living in a rural area has advantages that simply can't be bought at any price.In the city I was bombarded with the sounds of horns blowing and sirens blaring. Real Estate Professional in the Palm of Your Hand GETTING THE MOST FOR THE LEASE-TRACKING YOUR REAL ESTATEIf you own rentals and/or investment properties, you know that you have to keep track of your portfolio, maintenance profiles, property managers, and related financial matters. There are a multitude of programs for the Palm-Pilot system to keep up with lease dates, lease expirations, and rent due dates. If You are Hiring a Neighborhood Specialist to Sell Your Home, there are Some Things You Absolutely My husband and I were eating breakfast at the Good Egg the other morning and couldn't help but over hear a fellow talking to his elderly parents about their home. It was fairly obvious that his father had a hard time hearing and the louder he talked the more I was tuning in to what he was saying. Home Selling: How To Set The Right Asking Price Many homes remain unsold for a long time because they're over-priced. Pricing your home right is essential if you want to sell your home in quick time. Should You Sell Your Home Yourself? Are you thinking about selling your home? Would you like to sell it by yourself instead of hiring a real estate agent? If so it would be beneficial to review the pros and cons of selling your home by yourself before hanging out the sign.PROSSelling your home without an agent means More Money. |
List4Sale Domain Is For Sale - $10,000 For Enquiries eMail Us © www.List4Sale.biz 2012 |