Someone bought a house in my name. Are you a victim of a scam, or a beneficiary of a generous gift?
These types of scams are rare, but you should be careful if you are a victim. get sound legal advice before doing anything.
If you are the beneficiary of a generous gift learn about all the responsibilities associated with home ownership.
The title company needs a survey to protect you and your mortgage company.
Boundary issues are common and include easements, encroachments, and boundary disputes.
Sometimes you won’t even know about the problem until the surveyor precisely sets your boundary and building locations.
A residential real estate survey helps buyers uncover hidden boundary issues with the property they want to buy.
In many cases mortgage companies won’t underwrite a loan without a current survey.
Many states and mortgage companies require a survey for real estate transactions.
Even if they don’t, though, you should consider getting one.
Easements, encroachments, zoning, and boundary problems are all issues a survey can expose.
Is an option binding? It is for the seller, but not the buyer in most cases.
In a rent-to-own situation the tenant must pay rent according to the contract, but they have the option to actually buy the home.
The buyer may assign a straight options but not rent-to-own or lease purchase agreements.
An option in real estate may be good for investors and renters. They do have disadvantages, though.
There are three basic types: straight, lease, and rent-to-own.
Carefully read your contract and make sure you understand the agreement before you sign.
DOM in real estate measures how long a house has been marketed. It reflects whether the house is priced correctly.
Market conditions and the upkeep of the house also affect this number.
Buyers and sellers both should look at this number with other objective and subjective criteria to determine the true market value of a property.
An automated valuation tool is not an appraisal, but it can be a valuable tool to help you understand what your home is worth.
It predicts what the price of your house should be based on a mathematical algorithm, which usually includes a hedonic statistical model and a repeat sales index.
A house under contract in real estate in real estate cannot be sold to someone else unless the original contract is nullified.
An agreement signed by both the buyer and seller is executed and a binding contract.
However, most contracts have contingencies. If these are not met, then the deal may fall apart. After that, the seller may sell the house to someone else.
Typical contingencies include home inspection, financing, clear title, appraisal, and often home sale.
These are important to protect buyers and make sure that properties are safe and free from major problems.