Posts Tagged as Tips for Real Estate

Our Secrets: Tips You'd Love to Share with Sellers

The Preliminary Title Report is Your New “BFF” Why?

Reviewing the Preliminary Title Report immediately is integral among real estate selling tips for preventing long-term sales roadblocks, which can take a great deal of work, time, and money to clear. Although nearly everything in real estate must be written, documents aren’t always recorded or safely and properly stored for reference as they should be.

Many title-related issues can come back to haunt you:

  • Uncovered liens.
    Title liens flying under the radar from long, long ago.
  • Liens from prior owner(s).
    Liens from third parties that preclude the current owner’s insurance or transfer, sometimes lying in hiding from several owners back. They’ll continue to remain until cleared, and if left unresolved will result in sales issues down the road for your current buyers.
  • An unrecorded re-conveyance.
    From when the note secured by a Deed of Trust on the property was paid off.
  • Litigation issues.
    Lawsuits on file which are vague and lacking in details, such as a lawsuit initiated for specific performance which was later updated to a damages suit (with the specific performance component removed).
  • Property boundary issues.
    Even a prior agreement with a neighbor affecting property boundaries. Example: a fence location, which may not be an issue for the previous owners but may be one for the new owners, could result in expensive disputes later.

Following the paper trail
This real estate selling tip advises going over every facet of the Preliminary Title Report with a fine tooth comb to avoid unnecessary delays, aggravation, and potential legal and other related expenses later. Read the report carefully and obtain copies of any documents referenced that are in question. Inquire with the seller in reference to items that are unknown or misunderstood.

Don’t let your sales end up missing in action. Lock them down with these and other real estate selling tips from Properties Online today.

Whoops! Don't Let Boo-Boos Sabotage Your Project

Agents Should Share Sex Offender Information with Buyers

Sharing Information About Sex Offenders
Sharing Information About Sex Offenders

What is your policy on sharing sex offender information with clients? According to real estate selling tips from HUD, attorneys, and the National Association of Realtors, buyer’s agents can (and should) legally share information on sex offenders with clients. But how much of this burden falls on you, and how much should you share?

The devil’s in the details
According to NAR and attorney real estate selling tips, its best to provide notice to buyers in the following ways:

  • Sharing actual knowledge you have on area sex offenders.
  • Letting clients know where sex offender information can be found, such as a written notice on the availability of sex offender information in your state, and Megan’s Law.
  • Revealing any pertinent information discovered in the sex offender registry, being certain to cite the registry as the source.

Is the onus on you?
No. The burden is still on the buyer – as long as you’ve shared what you happen to know. You are never obligated to proactively research this information for clients.

What if you’re the listing agent?
Thus far, your responsibility to share this information as a listing agent has not been called into question.

Don’t skirt the issue – know the facts to protect yourself and your client:

  • In most states, you are legally permitted, but not necessarily obligated, to share sex offender information with buyers.
  • In Montana you are required to share knowledge of sex offenders.
  • HUD explicitly states sex offenders are NOT protected under the federal Fair Housing Act.
  • Worried about inaccuracy/defamation? If you cite the sex offender registry as the source, you’re protected. (It’s the registry’s issue – not yours.)

A matter of good business
Even if there’s no liability for failure to disclose, it’s still in the best interest of your reputation to do so,