When you purchase a piece of property here in Delaware, you want to know that you own it without any defects to the title. It does not matter whether real estate transactions are for residential or commercial property, if there is something wrong with the title, you could end up with problems down the road. For this reason, a careful examination of the title needs to be done, and if any issues are found, they require correction right away.
What is the purpose of a residential real estate appraisal?
Most Delaware residents are not able to pay cash for a home. Even if they do have a substantial down payment, they still need a mortgage loan in order to pay the remaining portion of the purchase price. In that case, the lender will more than likely require a residential real estate appraisal prior to finalizing the loan.
Don't bark up the wrong tree with pets and estate planning
What happens to a pet when its owner dies? Many Delaware residents engage in estate planning to take care of their loved ones after their deaths, but they may also need to take some time to figure out what will happen to their pets as well. No one can assume that another family member or friend will automatically take on this responsibility.
Selling your home? Understanding required disclosures
Buying or selling a home in Delaware is a complex process that involves many factors. If you are attempting to put your house on the market, it is wise to know what to expect and how to avoid potential complications as you navigate what is ahead. One of the things that you may need to know concerns required disclosures as the seller.
Include a home inspection when buying residential real estate
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.
