Katie McBride's Blog
When you think of buying or selling a house, the first thing that comes to mind may not be the legal aspects associated with the process. You may want to reconsider this rather boring part of the process as an important one. Hiring a lawyer can help both buyers and sellers to get through many hurdles that buying a home can present.
There will be many negotiations and a lot of back and forth throughout the process of buying a home. Everything that’s involved with buying a home needs a contract for it to be legally binding. A real estate attorney will negotiate on your behalf and be sure that the contracts adhere to all state and local laws. The lawyer will also help you to address issues that may affect the future of the property such as botched inspections, liens against the home, and other items that could affect you as the home buyer.
Real estate attorneys will perform what is called a title search. This allows them to see if there are any outstanding liens or judgements against the house. This title search will also make sure that the seller has the right to actually sell the property that’s being sold. An attorney can do all of this much quicker than the average person since they have working relationships with title companies.
Transfer Of Property
If a property is being transferred through a corporation, trust, or partnership, things can get complicated. It’s good to have an attorney who is used to working with these complex situations and understands the legal boundaries within the state or municipality that the property is in.
If You Choose Not To Have A Real Estate Attorney
Many times, a real estate attorney isn’t required to buy a property. It is advisable to have one, however. Without an attorney you increase your chances of problems arising in the future. You run the risk of:
- Being sued for failure to disclose information
- An improper property transaction takes place
- You could miss relevant facts about the property
- Failing to file the correct documents at both the state an local levels
- Deeds are not transferred
- Building permits weren’t correctly filed
Having a real estate lawyer on your side is important due to the complex nature of property transactions. While some states require that an attorney be present throughout your property transaction, many states do not have this stipulation. You are smart to hire a competent real estate attorney to protect your own interests as either a buyer or a seller.
If you plan to buy a house, you may want to host a yard sale sooner rather than later. That way, you can sell items you no longer need and won't have to worry about moving these items once you find a new residence.
Ultimately, there are many reasons why it may be beneficial to host a yard sale before you kick off the property buying journey. These reasons include:
1. You can earn extra cash.
Let's face it – purchasing a home can be expensive, regardless of where you decide to live. Fortunately, if you host a yard sale, you can earn extra cash that you may be able to use to cover assorted homebuying and moving expenses.
Whether it's the costs associated with moving supplies or the closing fees on a new home, expenses can add up quickly during the homebuying cycle. Thankfully, by hosting a yard sale, you can simultaneously cut down on unwanted items and earn cash from these items.
2. You can start packing.
As you separate items you want to keep from those you want to sell, you can start packing for your eventual move. Thus, hosting a yard sale may help you kick off the process of moving from one location to another.
Of course, as you start packing, you also may want to reach out to local moving companies. This will allow you to learn about local moving companies, find out their rates and determine whether a moving company is a viable option for your eventual move.
3. You can move one step closer to finding your dream home.
Hosting a yard sale provides a great opportunity to connect with community members and tell them about your plans to search for a new house. In some instances, community members may be able to help you accelerate your search for your dream residence too.
A yard sale may prove to be exceedingly valuable for an individual who wants to start a house search soon. And if you are ready to explore the local housing market following your yard sale, you may want to consult with a real estate agent.
Typically, a real estate agent streamlines all stages of the homebuying journey. He or she will help you pursue houses in your preferred cities and towns so you can find your dream home. Then, a real estate agent will ensure you can submit a competitive offer to purchase your ideal residence. If your homebuying proposal is accepted, a real estate agent next will help you finalize your home purchase.
A real estate agent is an expert resource throughout the homebuying journey. If a homebuyer has questions as he or she searches for the right house, a real estate agent can quickly respond to them.
Host a yard sale before you purchase a house – you'll be glad you did. Because if you host a successful yard sale, you can take the next step to find and buy your ideal home.
For homebuyers, a home inspection is paramount. This inspection enables you to look closely at a house and identify any problem areas. It also may force you to rethink your decision to buy a house, particularly if you discover a wide range of problems during the inspection.
Ultimately, it pays to consider your options following a home inspection. In fact, if you take an in-depth approach to potential home repairs, you can determine whether to ask a seller to complete these repairs before you finalize a purchase agreement.
Before you ask a seller to perform home repairs, there are several questions that you should consider, and these are:
1. How much will it cost to complete assorted home repairs?
A damaged roof is much more expensive to repair than a defective light fixture. Fortunately, if you assess the costs of potential home repairs, you can differentiate major home repairs from minor ones and plan accordingly.
If a home requires thousands of dollars in repairs, it may be worthwhile to ask a seller to complete these repairs. Otherwise, you'll be responsible for allocating the necessary time and resources to perform costly home repairs after you finalize your house purchase.
On the other hand, minor home repairs may be easy to handle on your own. If you feel comfortable completing minor home repairs, you may want to avoid submitting a request to a seller to perform these repairs. Because if you ask a seller to complete myriad minor home repairs, he or she may walk away from a potential home sale.
2. Are there any required repairs that must be completed right away?
Required repairs, i.e. repairs that will address hazardous conditions in a house, sometimes will need to be completed following a home inspection. These repairs include water penetration issues and local code safety violations.
If required repairs go unaddressed, your lender is unlikely to provide you with the financing that you need to acquire a house. Thus, you should request a seller complete these repairs as soon as possible.
3. Is it worth my time to ask a seller to complete home repairs?
There is no right or wrong answer to the aforementioned question, as every homebuyer and home seller is different. If you are uncomfortable with a house following an inspection, you should examine the inspection report and determine the best course of action. And if you feel that asking a seller to perform home repairs is essential, it is important to do just that.
Lastly, if you need assistance throughout the homebuying journey, it helps to work with an expert real estate agent. This housing market professional usually will attend a home inspection and help you assess a house. Plus, an expert real estate agent is happy to provide recommendations and suggestions to ensure you can make an informed home purchase.
Take the guesswork out of evaluating a house following an inspection – consider the aforementioned questions, and you can determine whether to ask a seller to complete home repairs after an inspection.
Once you have bought a new house, you may feel lost as to where to start. There’s a long checklist of things that you should do to get yourself established in a new space. Here, you'll find a plan on what to do next.
Get Recommendations On Local People You Can Work With
Your realtor is a good place to start in asking who they recommend for many types of workers including plumbers, electricians, contractors, and more. You may even want to talk to your next door neighbors and see who they have used in the past for these types of handy work jobs. Even if you don’t need any kind of work done immediately, it’s a good idea to have some names and numbers on hand for future reference.
Don’t Paint Right Away
Although it seems much more practical to paint an empty house, once you live in your new home for awhile, you’ll get a sense of where the light hits and what colors will complement your furniture. When you pick colors in a rush, you run the risk of choosing shades that you may not love in the long term. Focus on properly lighting your rooms before you even start to paint.
Don’t Forget The Housewarming Party!
If you plan a housewarming party for a date that’s not too far after you move in, it will give you motivation to get things done in the house. The housewarming party is your accountability partner to get you to unpack those boxes and get decorating. Try to plan the party somewhere between one and two months after your planned move-in date. This will give you time to get things done, just not too much time!
Meet The Neighbors
You should take some time very soon after you move in to meet your new neighbors. They can be a great resource for you as to what happens in your new neighborhood. Find out if any of your new neighbors have dogs that your own dog could meet for a friendly walk. Your new friends will even give you information about a neighborhood watch or important community activities as well.
You’ll want to check all of your smoke alarms, carbon monoxide detectors, and alarm systems. Be sure that they work. Then, change the batteries in each system to start fresh. You should also equip your house with a fire extinguisher or two. You can never be too prepared for an emergency.
Next, you should check all of the door and window locks. Replace anything that used a key. You never know who had keys to the home before it was sold.
When you start small in a new home, things will begin to come together slowly but surely just like puzzle pieces.
When it comes time to attend a home showing, it helps to be prepared. That way, you can check out a house from top to bottom and confirm that this house fits your needs.
Ultimately, there are several important steps that a homebuyer should take before attending a home showing, and these are:
1. Review the Home Listing
Reading a home listing often serves as a first opportunity to evaluate a house and determine whether it could be your dream residence. As such, you'll want to review the listing closely to verify your interest in a house.
Oftentimes, reading a home listing a few times is a good idea. This will enable you to analyze all aspects of the listing and ensure it is worth your time to visit a house in-person.
2. Create a Home Showing Checklist
Although a home listing likely provides lots of information about a house, there may be plenty of unanswered questions that you have about a residence. Fortunately, a home showing gives you the opportunity to ask questions and receive insights into a house that you won't be able to receive elsewhere. And if you craft a home showing checklist in advance, you'll be ready to get the information that you need to fully assess a residence.
Remember, there is no such thing as a "bad" question, particularly when it comes to evaluating a house. If you make a list of questions before a home showing, you'll be able to receive responses that can help you make an informed decision about whether to submit an offer on a house.
Don't forget to include different areas of a home in your home showing checklist, either. In most cases, you'll want to evaluate a house's roof, attic and other areas to determine whether costly, time-intensive repairs may be needed in the near future.
3. Consult with a Real Estate Agent
Preparing for a home showing may prove to be difficult, particularly for a buyer who is attending a showing for the first time. If you consult with a real estate agent, however, you can get the help that you need to prepare for any home showing, at any time.
A real estate agent is a homebuying professional who understands the ins and outs of evaluating a residence. He or she can provide expert home showing preparation recommendations and serve as a guide throughout the showing itself.
Perhaps best of all, a real estate agent is happy to help you at each stage of the homebuying journey. If you have questions before or after a home showing, a real estate agent is ready to answer them. And if you want to submit an offer following a showing, this housing market professional can help you submit a competitive proposal at your convenience.
Don't wait to kick off your search for the perfect home. Instead, follow the aforementioned steps, and you can prepare for a home showing and move closer to acquiring your ideal residence.