We tend to think of HOAs (Home Owner Associations) as governing bodies for newer subdivisions and large developments with shared amenities and costs. In these places, HOA membership is mandatory for homeowners, as are monthly dues. HOA dues are disclosed when...
Just like cars, homes have titles which are documents showing proof of ownership. If you are making mortgage payments and do not yet fully own your home, the title is held by the lender. When you make the final payment, the title to your home will belong to you. When...
You will most likely encounter an escrow company or process, when you buy or sell a home. An escrow company provides a neutral third party that acts like a secure holding place for funds “in play” during a property sale. While the funds are secured in a safe place,...
What happens if you discover serious problems with your newly purchased home? Consider situations like these: You notice a consistent foul odor in your home, and discover a 20-year-old unpermitted bathroom addition has an improperly installed sump pump vent requiring...
In the previous blog post we covered basic guidelines for reading home purchase agreements carefully. Now we’ll explore four potential landmines for buyers if the fine print is not clearly understood. Most real estate transactions go smoothly, but issues like breach...
For most people, buying a single family home or condominium is the largest purchase they will make in their lifetime. The purchase agreement is the contract signed by both the buyer and the seller. It is the document that legally formalizes the transaction and...
