Do You Really Need Title Insurance?
What can go wrong? Plenty. There are many reasons why you want to think twice about not getting title insurance.
What can go wrong? Plenty. There are many reasons why you want to think twice about not getting title insurance.
Virginia is known as a ‘Caveat Emptor’ state – Latin for ‘buyer beware’. It is up to the buyer to do the necessary inspections and uncover any defects. A Seller can’t intentionally cover up a defect, that can be hard to prove. Here are a few tips to help you spot not so obvious problems.
For some reason, people have come to treat Zestimates are the defacto standard. Maybe it has something to do with our desire for instant gratification. In today’s internet-obsessed society, we want instant answers. How accurate are they? Not very. They are better used as a starting point for determining value, not the endpoint.
I work with a lot of investors and a lot of what I call ‘accidental investors’ – people who had no intention of becoming a real estate investor, but do so when they move and rent out their property because it ‘almost covers the mortgage’. I cringe when I hear that phrase.
In part 1, we discussed the pros and cons of either buying first or selling first. In Part 2, we will look at how to protect yourself when you are trying to do both simultaneously. There are several options you can use in a contract to protect you when you are buying and when you are selling. Let’s look at the contingencies to use when you are the buyer of a new home.
Unless you are a first-time buyer, you have probably asked yourself ‘What should I do first – buy or sell?’. I’ve helped a number of clients in this situation and my answer usually starts with ‘it depends’. It depends on a number of factors and this post will explore the pros and cons with each. Part 2 of this article discusses various ways to protect yourself so you don’t find yourself homeless.