Sellers are required by the state of Delaware to disclose any defects or other issues with a home they are selling to a potential buyer. However, it may be a mistake to rely on those disclosures to help you decide to purchase residential real estate. A home inspection may provide you with information the seller either did not know about or did not disclose when it comes to the condition of the home you are considering purchasing.
It is not always easy to discern where one property owner's land ends and another owner's begins. Perhaps a neighbor decided to sell his or her home, and it turns out that another Delaware homeowner built a garage on the property without realizing it. It was not until a survey was done as part of a residential real estate transaction that the mistake was discovered.
Many Delaware residents who buy homes, townhouses or condominiums discover that they must become part of a homeowners' association. The fees associated with an HOA are only one small part of what it means to be part of it. When completing a residential real estate transaction under these circumstances, an individual needs to understand what the HOA will require.
The prospect of owning your own home is exciting, but that excitement should be tempered with caution. Disclosures are a part of every residential real estate transaction here in Delaware and elsewhere. What you see in those disclosures could ultimately affect whether you purchase the house -- that is, if the seller fully discloses any actual or potential defects.
Buying and selling a home can be a complex and frustrating process. You want to make sure that you are getting the best deal possible and that it closes in a timely manner. Nevertheless, going through the due diligence, dealing with financing and making sure the title is clear can be overwhelming. You can take the guesswork out of Delaware residential real estate transactions by making the right phone call.
It is said that good fences make good neighbors, but knowing whose property the fence is on can be problematic. Some Delaware homeowners do not know the exact boundary lines of their property and could end up building on a neighbor's property. This residential real estate issue is defined as encroachment, and many people might not realize a problem exists until they are selling or buying property.
Residential real estate issues can be extremely challenging to understand. On the surface, it may just seem like a very straightforward home purchase but when you look deeper into the process you may realize that there are a lot of laws that are specifically tied to residential real estate transactions in our state.
Clients come to us with many different types of real estate issues. They may be buying a home for the first time or they may be trying to divide a home after a divorce. One topic that may be of interest to our readers and those considering buying a home is the choice of renting to own.
Real estate transactions can be extremely complicated on top of the actual act of having to find and secure a home. If something is not properly written out or filed, it can cause a lot of problems down the road. In our state, title commitments and title insurance can only be issued by an attorney, so it is important to work with an attorney that has experience with real estate transactions.
As Starbucks franchises continue to proliferate, the Seattle-based coffee shop is also becoming a source of increased value for residential real estate within a quarter-mile of its locations. A study conducted by the real estate research group Zillow found that homes in closer proximity to a Starbucks storefront increased in value by 96 percent between 1997 and 2013. In comparison, the value of all U.S. homes within the same time frame increased by 65 percent.