The housing market has been on the rise for quite some time now. Just last year, the prices went up by slightly over 6%. But this is a trend that has been continuing for numerous years, and many homes are worth two or three times what they were a decade ago. Because...
Real estate transactions
3 benefits of an arm’s length real estate transaction
When buying or selling a property, emotions can run high, and sometimes, those closest people to a buyer might be interested in “getting in on” the deal. While a real estate transaction between family or friends can be tempting, prioritizing an arm's length...
What do the new real estate commission rules mean?
The National Association of Realtors (NAR) recently agreed to a major shift in policy that changes its rules about how buyers’ agents are paid. The move was in response to numerous class action lawsuits that said that the trade group was essentially unfairly setting...
2 mistakes to avoid when signing a commercial lease
Signing a commercial lease is one of the most important commitments you can make as an entrepreneur. And when you sign one, you want to be sure that you get everything right the first time. Unfortunately, to err is human. Amidst the pressure to sign quickly and...
3 issues that could affect financing for a home purchase
The average buyer on the residential real estate market requires financing. They secure a mortgage to pay the vast majority of the purchase price. While a 20% down payment was once standard, many modern mortgages involve single-digit down payments. Buyers finance...
3 sensible tips for negotiating your first commercial lease
Do you feel exhilarated by the prospect of leasing the first space for your new business? Enthusiasm can take you far, but remember, not all leases protect the interests of both parties. When you find the ideal space, its owner may hand you prepared lease documents...
What is an abstract of title?
One term homebuyers may be unfamiliar with is “abstract,” or more formally, “abstract of title.” What does this bit of real estate legalese mean? An abstract is a formal term for the thorough title search that must be done when someone decides to purchase a piece of...
3 things sellers do not have to disclose in Arizona
Home sellers in Arizona do have to disclose certain things about their property. For example, there could be cracks in the foundation, leaks in the roof, evidence of past water damage, black mold in the house or something else of this nature. If there are any...
Why would a buyer remove an inspection contingency?
Buyers often include contingency clauses when making an offer as a means of protecting themselves. For instance, the buyer may use a home inspection contingency. If the home passes inspection, then their offer stands. But if it fails that inspection, they can walk...
3 things to look for as you inspect a home
As a new home buyer, you likely do not want a fixer-upper or a home that you would eventually have to abandon because of larger issues. One of the ways to avoid this issue is by inspecting a home for issues. Many people hire home inspectors. A home inspector is...