Contingency clauses are certain stipulations that can be added to a real estate purchase contract. The contingencies have to be met in order for the contract to be legally binding. These are often added when a buyer is putting in an offer to purchase a home. That...
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Elizabeth’s Law Blog
How a home inspector could change your life
Are you thinking about buying your first home? Owning your own property can be fulfilling. And, it can give you security knowing you’ll no longer have to pay monthly rent bills and still have issues with the space you’re living in. It’s always difficult to find that...
Understanding the appraisal gap and how to tackle it
The appraisal gap is a term that has become increasingly significant in real estate, particularly in a competitive housing market. Understanding the appraisal gap and how to handle it can be crucial for buyers and sellers to navigate the complexities of property...
What to consider when the asking price of a home seems too low
Everyone wants a great deal no matter what they are buying. However, if the price of a home seems too good to be true, ask yourself: what’s the catch? Sometimes, sellers need to act quickly and may offer a sound home for much less than its market value. Unfortunately,...
What does “as is” mean in residential real estate listings?
There are many pitfalls to avoid when searching for a new home, especially if it is your first purchase. Since you want a fair price and as little hassle as possible, you may look twice at “for sale as is” listings. These ads sound like you can simply pay the asking...
What to do if you bought a house with undisclosed defects
Despite many challenges, owning a home remains the American dream. While buying a home is a big step, what if you found out that it has undisclosed defects? This can be a nightmare for any homeowner. If you have just bought a home and are discovering undisclosed...
3 things you need to look for during a property title search
A home purchase is, without a doubt, one of the most important financial undertakings you can ever make. And given the legal, financial and personal implications of buying a home, you want to be certain that you get everything right “the first time.” This is where due...
Disclosure requirements when selling a home in Illinois
When selling a home in Illinois, there are certain disclosures you must make to a potential buyer. It is a legal requirement meant to ensure a fair and transparent transaction between the buyer and seller. The information you are required to disclose is outlined in...
Short sales: What are they, and what do sellers need to know?
For homeowners experiencing financial difficulties, foreclosure can feel like the only option. If you’re struggling to make ends meet and to afford the mortgage payments every month, you might be in a position where you’re having to think about your next steps. A...
2 important qualities your real estate agent needs to have
Are you looking to buy or sell a home? Then the best odds for a good outcome is to find a real estate agent. There are many real estate agents who work around the clock to give the best results to their clients. You do not want to pick just any real estate agent....