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Real Estate Archives

What details should be included in a owner financing agreement?

There are many reasons why buyers get banks involved in lending them the money to make a home purchase such as offering lower interest rates and variable types of loans. There are just as many reasons why buyers seek out private lending or owner financing though as well. One of those is that they may more easily qualify for a loan even though they have a below-average credit score. If you're going to offer private lending, then you'll want to make sure that your contract includes a few very important details in it.

Coronavirus may decrease home prices by 35%

Home prices are anything but stable, and a lot of different issues factor in. It's not the same as buying or selling many other products, which always cost roughly the same and give you something to expect. Homes are priced based not just on size or condition, but also on the market conditions, the number of potential buyers, the number of other homes on the market and things of this nature.

Why would people waive a mortgage contingency?

A mortgage contingency is essentially a way for a buyer to get out of an offer with no penalty if they decide that they do not want to buy the property. This is important because the seller may reject other offers to accept the one they like. Should that buyer back out, it can harm the seller financially.

How can a property manager address eminent domain?

Owning property is a major endeavor for anyone, whether it is a personal home or property that they manage for leasing purposes. One thing is certain, though: no matter the property type or the length of ownership, a property owner intends to own their real estate property until it is sold or passes on to their heirs or beneficiaries after their passing. Unfortunately, there are times when property can be taken away. While many might be thinking of the foreclosure process for missed mortgage payments, what is being referred to is the power of the government to take private property.

The most expensive legacy property is up for sale in Tennessee

Buying and selling property is a major transaction, especially when it comes to real property. Whether it is land or a dwelling, purchasing property creates a business relationship between a buyer and seller. And like any business relationship, issues or disputes could arise. For some, this could mean a dispute over certain terms, such as value.

What is eminent domain?

Owning property may feel like more of a privilege, as it takes time and money to obtain real property; however, the ownership of real estate is a right. Residents in Tennessee have the right to life, liberty and property without unreasonable government interference.

Problems that may prevent closing on a residential home

It can take years for a Tennessee family to pull together enough money to buy their own house. Owning a home comes with many responsibilities, but before a person can call a residence their own, they must find a way to pay for it, negotiate the purchase and close on the deal. Getting to closing can take a long time, and unfortunately, there are a number of problems that can come up that can derail a family's purchase of a home.

What is eminent domain?

The basis for a government taking is found in the Fifth Amendment to the United States Constitution. Tennessee residents may know it as the "Takings Clause." This clause in the Bill of Rights ensures that private citizens cannot have their land taken from them by the government without also receiving just compensation for their losses.

Protecting the property rights of Tennessee residents

One of the biggest investments that a Jackson resident makes during their lifetime is buying a home. When they buy a lot on which to build their dream home or acquire land where they plan to erect the building for their business, they may take on a mortgage or other significant loan that must be paid back. To this end, ensuring that property owners understand their rights and responsibilities regarding their land is imperative to protecting their ownership interests.

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Jackson, TN 38301

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