Monday, February 1, 2021 / by Kenneth Brands
You live in a quiet, residential community…then one evening you notice someone in the neighborhood is having a large, loud party which lasts into the wee hours of the morning. While you’re willing to overlook an occasional party disturbance, you come to find out that your new neighbors have converted their home into a vacation rental. What can you do about it? The first step is to reach out to the owners and have a conversation. Ask them about the rental rules they enforce and how they handle issues. Discuss how many guests they permit at a time and how often they intend to rent the home. Hopefully, they understand your concerns and have anticipated how to handle unruly renters. If you discover that the owners are unsympathetic, unable or unwilling to enforce reasonable rules and restrictions, you still have options. The first step is to reach out to your homeowner’s association if you have one. Find out if there are CC & R’s which would prevent or limit th ...
Saturday, January 30, 2021 / by Kenneth Brands
Covid-19 has impacted homeowners across the country. With job losses and income reductions, many have taken advantage of the ability to enter a forbearance program with their lenders. During the forbearance program, the agreements state that no late fees will be assessed, and the balance of missed payments will be deferred to the end of the loan. As a result, many homeowners have been able to keep their homes during this time of economic upheaval. Some of these affected may now have stabilized incomes and are ready to exit forbearance. They might be wondering if they will be penalized for this if they choose to refinance or buy a new home. Fortunately, there is good news for these homeowners. Part of the program is that the lender will not report these late payments to the credit bureaus so the borrower will not have that issue to contend with when they are ready to find a new loan. Lenders understand that this is a unique situation and that it is not representative of the way a borrow ...
Monday, January 18, 2021 / by Kenneth Brands
If your lifestyle has changed with time and you’re ready to ditch the big house for a smaller, more manageable home, it might be time to downsize. Deciding to shift to a more care-free dwelling is easy – determining where to begin is much harder. The accumulation of decades of living can feel overwhelming; taking the move step by step will help you break it down into manageable stages. Before you do anything else, do your research and find the right location for your new home. Explore different communities and learn the pros and cons of each. While seniors often move to 55+ developments, there are also many other choices for low/no-maintenance properties. Consider condominiums, townhouses, and patio homes as part of your research; many of these home styles can be found in areas that are not part of a 55+ community and often offer walking trails, fitness and aquatic facilities, and other active lifestyle amenities. In many areas, luxury high-rise buildings have become popula ...
Sunday, January 17, 2021 / by Kenneth Brands
There are so many questions and concerns amid the Covid-19 coronavirus outbreak. The real estate market is especially hard hit and sellers are concerned. Real estate at its core is a people business. It relies on person-to-person interaction and the coronavirus necessarily limits this contact. As the spring selling season gets started, home sellers will have questions and it’s important to acknowledge concerns and offer practical advice and concrete information to help sellers make the best decision for themselves and their families.
1. Should I still try and sell my home? – Of course, there are many aspects to this question. First and foremost, the health concerns of the sellers’ family have to be taken into consideration. Unless absolutely necessary, the elderly and those with underlying health issues should not allow unnecessary people into their homes; including buyers and agents. If the household is essentially healthy and not considered high-risk, then this ...
Friday, April 24, 2020 / by Katya Sousa
After months of searching, you’ve finally found it -- your perfect dream home. But is it perfect?
Will you be purchasing more than just a beautiful home? Will you also be acquiring liens placed on the property by prior owners? Have documents been recorded that will restrict your use of the property?
The preliminary report will provide you with the opportunity, prior to purchase, to review matters affecting your property which will be excluded from coverage under your title insurance policy unless removed or eliminated before your purchase.
To help you better understand this often bewildering subject, the Land Title Association has answered some of the questions most commonly asked about preliminary reports.
What is a Preliminary Report?
A preliminary report is a report prepared prior to issuing a policy of title insurance that shows the ownership of a specific parcel of land, together with the liens and encumbrances thereon which will not be covered under ...