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Title records for a property help establish who the lawful owner of a parcel is. A local county recorder's office maintains records of who owns individual pieces of real estate and what, if any, encumbrances affect their rights. Anytime a real estate transaction...
A letter of intent (LOI) is a formal document that — while not legally binding — serves as a starting point for negotiations between a buyer and seller or a commercial landlord and tenant. In essence, a letter of intent is a written expression of the desire to enter...
Developing real estate can be a lucrative business, but it is by no means easy. Real estate development is not as simple as picking a plot of land and building. Developers have to carefully plan and strategize as well as act following the law. Here are some common...
Real estate transactions are relatively complex. The buyer and seller both need to protect their interests, as does the lender providing financing. Even in a scenario where a buyer makes a cash offer, there are usually weeks between when the seller accepts the offer...
Buying a home isn’t as simple as seeing one you want and paying for it. Instead, the process involves various steps, such as securing a mortgage, making an offer and waiting for the seller to accept the offer. For most people, their real estate agent will help them as...
When landlords rent out properties in New York, they may encounter various challenges. For example, leases are an issue involving many nuances. Unfortunately, many landlords make mistakes that can lead to legal issues or financial losses. 1. Inadequate lease clauses...
The initial steps of a real estate transaction help pave the way for a property seller to approve your offer and set you on the road to your new home or commercial property. Obtaining mortgage preapproval could make or break your efforts to buy a piece of real estate....
Purchasing property in New York City is a significant investment, requiring careful consideration of various factors. One important aspect often overlooked is the importance of a thorough title search. Taking the time to do research is a beneficial task. 1. Unveiling...
An estoppel certificate plays a role in ensuring transparency and clarity in real estate transactions. It is a document that verifies the status of agreements and obligations related to a property. While it might sound like complex legal jargon, understanding when you...
The National Association of Realtors reported in September 2023, the median sales price for homes in the nation was $394,300. When considering purchasing a home, it is important to approach the process with a discerning eye. Not all homes on the market may be in good...