Millennials Turning to Condos and Shun Traditional Homes

Photo courtesy of Matt Hintsa via Flickr, Creative Commons The 21st century has seen an increase in millennials preferring urban living. An article by Mike Wheatley in Realty Biz News stated that 1,000 adults aged 18 to 35 prefer small-sized but functional homes, as per referral to survey results obtained from Better Homes and Gardens. As urbanity continues to thrive around the world, condos in key cities subsequently play integral…

The Characteristics of a Good Landlord

Do you hold attributes that a good landlord should possess? Do you ensure your tenants’ safety, security, and comfort while living on your place? Before answering that, know that renting out property isn’t only about having offering a good-looking space. There are a lot of other things to be considered by a landlord. A landlord also have to anticipate the tenants’ needs and possible issues while leasing the property. If…

Issues Relating to Commission Disputes and Procuring Cause and How to Avoid Them

The Issue Commission disputes happen when a licensed real estate professional and a client is in disagreement or confusion with the due compensation he will receive especially when that agent had limited or no participation with the actual sales. Another situation related to this is when an agent is asking or has received commission despite having an expired or no license at all. Having complications between co-agents or clients relating…

Frivolous Lawsuits and Cases to Recover Fees and How to Avoid Them

The Issue The category of real estate issues related to frivolous lawsuits or the prevailing party’s right to recover fees does not demonstrate as much significance as the property condition disclosure, agency and real estate settlement procedures act (RESPA) issues, as reported on the National Association of Realtors’ 2011 Legal Scan. Although avoiding the tedious filing of such lawsuits should motivate you enough to put into mind the above mentioned…

Real Estate Settlement Procedures Act (RESPA) Issues

The Issue Real estate settlement procedures act (RESPA) issues may not be the leading problem now that cases of  real estate owned (REO) properties and short sales complications are increasing, according to the study. Nonetheless, they still do exist. Realty professionals concerned report that some are duly related to vague rules related to the kickbacks in affiliated business arrangements. This does sometimes bring real estate agents and/or their clients confused…

Agency Issues and How to Avoid Them

The Issue Cases related to agency issues include the changes, poor implementation and/or breach of state and federal regulations for agencies and their personnel; the inadequate representation or protection of clients’ interests (breach of fiduciary duty); and representation or disclosure problems resulting from dual agency during real estate transactions. Other factors also included limited or non-disclosure of property information either deliberately or because of the agencies’ lack of knowledge about…

Property Condition Disclosure Issues and How to Avoid Them

The Issue Property Condition Disclosure Issues involve the developer or seller’s deception, limited or total non-disclosure of housing conditions like presence of lead paints, radioactive elements, etc. The misinformation about the presence of water and mold intrusion, structural defects and actual size of the property, however are the ones that draw noticeable significance to property disclosure problems. Instances have been reported about sellers who withhold such specific information to avoid…