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Posts tagged "Real Estate Transactions"

Construction defects may complicate real estate transactions

Regardless of what type of real estate transactions you are pursuing in Minnesota (buying a home, selling a property, building a home, etc.), you want everything to proceed as smoothly as possible. However, many new homeowners or those seeking to buy real estate fail to take the possibility of construction defects into account. A serious defect in the construction of a building can reduce the value of your property and may even pose safety hazards.

What happens if I sell my home for less than my mortgage?

We live in an era in which government shutdowns, layoffs, high medical costs and divorce can all financially cripple a family. While some lenders may be willing to extend a due date out for a few weeks or months, others may not. If you're struggling to make mortgage payments, then you may be considering downsizing your home. If the market is performing poorly or there's little equity built up in it, then you may be wondering what to do next.

Don't take risks: Use a real estate when you buy or sell property

If you talk to anyone who has completed a real estate purchase or closing with the assistance of an attorney, they will probably agree that having an attorney help with the process is recommended. However, they might not know exactly what's at risk of happening without an attorney by your side.

Real estate closings: How an attorney helps

You can handle your real estate closing yourself. You can use a real estate agent to assist you with the transaction as well, but you can also use a real estate attorney if you want to make sure you've crossed all of your T's and dotted your I's. In fact, the use of a real estate attorney to represent you in your real estate sale or purchase is an intelligent move considering the fact that the transaction is likely valued at more than $100,000.

The first 3 things to check before closing on your home

There are countless things to keep track of in every real estate transaction. The closing process alone, when there's no turning back on the transaction, will have a tremendous number of details that you need to get right. To get you started off on the right track when it comes to your real estate closing, here are three things you'll want to check:

With a flat economy, it's still possible to bring in an income

The economic recovery was a relief to many people in America. It meant there were more jobs and better home prices. Their properties began to improve in value, helping many sell for more than their mortgages, so they could move on to new ventures.

Should you get a home inspection?

When you're looking into buying a home, one thing you want to do is get a home inspection. While you aren't required by law to have an inspection performed, it's one of the best things you can do to protect yourself. If you buy a home without an inspection, there could be any number of things wrong with the property that you don't know about until it's too late.

Environmental risks could impact your real estate transaction

Environmental issues can play a role in real estate transactions. Take for instance the likelihood of a flood in an area; a flood that enters a home could cause water damage and make its value plummet. Even worse, it could mean fewer people want to buy the property.