Many have heard the term “mechanic’s lien,” but you may not understand what they are and how they work until encountering one during a real estate transaction. In broad terms, a mechanic’s lien is a legal claim filed against a property by a lienor for unpaid bills. If...
Month: October 2020
Issues to consider before purchasing a rental property
Many people like the idea of diversifying their investment portfolio by buying a rental property. They may have a lot of stock, which is great and earns returns, but it also means that the market ebbs and flows greatly impact finances. On paper, buying property can...
What clauses in a real estate contract may cause problems?
Contracts are powerful legal tools. A failure by either party to meet the obligations outlined in the contract can result in the cancelation of the deal. But contracts are not all bad. In addition to the possibility of losing the deal, there are also provisions that...
Do you qualify for a commercial property loan?
When buying commercial property, you will also need to have a good understanding of the loans that are available to you. This will allow you to navigate your purchases with more accuracy and speed, eliminating potential dead ends before they can hinder you. If you...
What are the benefits of purchasing a rental for college students?
If you are considering a multifamily building, you may want to consider your prospective tenants. While some people choose to rent to families or the elderly, others may choose to rent towards young people, including college students. According to Appfolio, owning a...
What should you know about earnest money?
The housing market is often brutally competitive especially when it's in good form. When you are trying to outbid and overtake stiff competition, it helps to have a few things on your side, such as the introduction of earnest money into a deal. But what is earnest...
What should I look for on my credit report?
Having good credit is essential if you want to secure a loan to buy residential or commercial real estate. Before you approach a lender, consider acquiring a copy of your credit report. Some people have found unwelcome surprises on their reports that have impeded...
How can I avoid commercial zoning trouble?
Before purchasing or leasing commercial property, it is vital that you understand what zoning ordinances apply to that property. One of the biggest mistakes that newer commercial purchasers and lessees make is to assume that since a previous occupant used a commercial...
3 Tips for entrepreneurs who are eyeing real estate development
If you are an entrepreneur who has been eyeing real estate development for your future investment plans, you are not alone. Around the world, an increasing number of investors are taking an interest in this wealth-building tactic, and for good reason: Real estate is...
What should I know about subleasing commercial property?
The majority of Americans are familiar with the process of subleasing in residential property. In this instance most people call it “subletting,” and it is the process of the original lessee of the property contracting with a new lessee and the landlord. Commercial...
