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Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. This misconception obscures the reality that, historically, buyers lacked formal representation.
Real estate agents and loan officers play an important role in ensuring appraisers have the necessary data to deliver reliable valuations. I had the opportunity to discuss some common questions people have about the appraisal process with Massachusetts real estate agent Kevin Vitali.
This is where a good realtor will also provide essential disclosures such as any potential influences like power lines, train tracks or easements that might be in place. A realtor should also note the details of common areas, special assessments if there are any, or any legal issues that might be affecting the project.
It should be noted that not every state uses due diligence fees in real estate transactions, so it is important to consult with your real estate agent so they may educate you on the legal implications of a housing contract. Due Diligence: What Is it? This is part of what happens next when you go under contract on a home.
The benchmark for your home’s worth, an appraisal is a legal document that determines the fair market value of a property. Any easements or encroachments – any part of the property should be accounted for to get the most accurate estimate of the land value.
A home appraisal is a legal document containing information that determines the current fair market value of a new or existing property. Any existing easements or zoning issues. Whether you are a property owner, real estate agent, mortgage broker or lawyer, we can provide quick and accurate home appraisal services.
It documents ownership, vesting, and detail regarding anything recorded against the home, such as liens, encroachments, or easements. The legal description The legal description is everything you won't see in any real estate agent marketing or advertising. Easements.
Preparing a home for sale includes dozens – or even hundreds – of steps choreographed between seller, agent and other key individuals. A Homeowners Association can take legal action against an owner and win legal judgments for damages if rules are flouted – proceedings that may slow or prevent the sale.
” “I have a life long time in agriculture and worked at a title company, giving me a good understanding of legal descriptions and easements.” Also, I have appraised multiple airports and done various easement studies for research.” ” “I do a lot of legal work for attorneys.”
In many cases, a known easement or encroachment or even pending land use changes can be considered latent defects. Real estate agents have certain obligations as well. While a listing agent might not have the same firsthand knowledge as a seller, they cannot misrepresent the home. What is the extent of the damage?
In this posting, we will follow the acts of contract negotiation and legal settlement when undeveloped land changes ownership. If the owners are trying to sell by means of their own resources -- a sign or classified advertisement, say -- it is still wise to keep a buyer's agent on hand.
Whether you’re working with a real estate agent or listing on the multiple listing service (MLS), having a clear, step-by-step plan ensures your investment property stands out in the local real estate market and attracts serious potential buyers.
There is administrative time involved, as well as legal factors. When you climb to the top of the tower, the owner has a telescope where you can see forever valley views,” Speakman (agent) adds. He was kind of fun and eccentric,” says listing agent Barbara Brandt, with Windermere Seattle-Wedgewood, of the architect. “It
Integrity Remain steadfast in your commitments, stay true to your word, and uphold your principles, even if this requires declining an appraisal assignment or future work with a client or their agent. By staying honest and true to your values, others are more likely to trust and collaborate with you or recommend you and your business.
We’ll cover everything from preparing your home for sale to navigating the complexities of the Texas real estate market, ensuring you have the knowledge to conduct a smooth, legal, and profitable transaction. It’s worth noting that while FSBO sales can result in savings, they often sell for less than agent-assisted sales.
Consequently, both the appraiser and home inspector ended up on the receiving end of a “wrongful death” legal claim. Every room on the main level except for the kitchen and the turret have a fireplace, and those are all made out of a different precious wood,” Rich (agent) explains. It’s listed for $899,000. It’s magical.”.
Mortgage lenders are legally required to abstain from discriminating against a borrower on the basis of sex, religion, race, marital status, disability, age, national origin, or use of public assistance. Your mortgage lender is legally required to send you the appraisal report and cannot withhold it from you.
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