Real Estate Blog

I always recommend a buyer of real property spend the money to purchase an owner’s title insurance policy.  If a buyer is getting a loan to purchase the property, 99% of the time the lender is going to require a lenders title policy, and the buyer can obtain an owner’s policy with little or no additional cost. The buyer only pays an owner’s premium once and it covers them and their heirs as long as they own the property.  If an owner refinances, they have to purchase a new policy for their lender, but their policy continues without reissue. 
Often times, the possibility of inheritance can bring people out of the woodwork, looking for a windfall of gifts they may stand to inherit. And in most cases, almost anyone would love to get an unexpected wealth of property and gifts. But sometimes situations arise where those gifts may not be welcomed with open arms. In these cases, renunciation might be the answer. 
“What do you mean I can’t raise chickens on the property I recently purchased?”  It may sound humorous, but little can be more disheartening to a new homeowner than to learn that the use and development of their land - the dream for their investment - may not be possible due to restrictive covenants which affect their land. 
You’ve put an offer on a home, but you still need to sell your house first. That’s ok. Your sellers have a closing date on Wednesday a few weeks away. Timing is everything, so you carefully calculate your own closing date for the day after you’ve sold your home.  It’s an exciting time, and there’s lots to do: line up the moving vans, contact the utility companies so that power, cable and water can be switched out of their names and into yours, and time the key handoff precisely. 
Almost all subdivisions, at least those started in this millennium have restrictive covenants attached to the real estate.  Restrictive Covenants can dictate what color your house can be or what kind of flowers can be planted around your mailbox and can even dictate the breed of dog prohibited from living in the subdivision.  It is important to know the restrictions that apply, ideally prior to signing the offer to purchase, but realistically prior to the expiration of your due diligence period.  
You can buy anything online nowadays - groceries, flowers, make-up, homes, music, furniture, the list goes on and on.  Yes, I did say homes!  Many of us have bought and paid for something online, however, very few people have bought and paid for a house online.  Oh, sure, there are some that can say they found the home online, and they did all their paperwork to purchase the home remotely via email, fax and overnight mailings.  Those of us in the real estate transaction world are used to seeing this.
There’s some good news in the real estate market.  While there are many homes on the market, homes are selling relatively quickly – some have even had offers the day after they go up for sale.  The smart home buyer will gather his weapons together before setting out for the hunt. Here are 8 tips to help you snare your dream home before someone else does: 
UP - The recording fee for a deed of trust in North Carolina is going UP from $56.00 to $64.00 on October 1, 2016.  UP - The number of pages that are included in the recording fee is going UP from 15 pages to 35 pages. AWAY – The hope is that this will do AWAY with problems being created because of a change in a recording fee due to requirements of TILA-RESPA INTEGRATED DISCLOSURE (“TRID”).  
Yes, you can!  But, before you exchange funds for a Deed, you should investigate a few matters.