Buying and selling real estate in Alabama requires a working knowledge of what’s required during the process. One of the main things people need to consider is what types of disclosures are mandated within this jurisdiction. Alabama has some rather unique requirements...
Real Estate Closing
3 reasons pre-approved buyers may be unable to get a mortgage
Pre-approval typically means that someone meets the necessary standards to obtain mortgage financing. Buyers who have a pre-approval letter are often more competitive on the real estate market than those who apply for a mortgage after making an offer on a property....
What happens if there is new damage during a final walk-through?
Closing on a new property is a very lengthy and involved process. Simply negotiating a sale price and other conditions for a transaction is only the initial stage of buying a home. The prospective property owner will need to finalize their financing, coordinate...
4 contingencies that can protect real estate buyers making offers
Deciding to purchase a house is a big commitment. The property that they purchase will become their home, which means that everything from the property's amenities and location to its age and condition can influence what the home is worth for the buyer. No one...
What’s a post-closing occupancy clause?
Homebuying is filled with a lot of angst – for both buyers and sellers. Buyers may be worried about making sure the home passes inspection, the bank’s appraisal comes back high enough and their mortgage loan is approved. Sellers often worry about how they’re going to...
Does zoning truly matter when buying commercial property?
Commercial real estate costs more than a property of similar size or locations with residential zoning. Businesses looking to purchase vacant land or existing building for company operations may look into any properties that could theoretically work for their...
Will an appraisal gap force you to cancel your closing?
The real estate market is in constant flux. Prices, trends and demand are always changing, and the professionals that operate within the industry have systems in place to minimize the losses they may possibly incur from doing business. Mortgage companies, for...
How long do you have to wait to close on your house?
If you are buying your first house, you may not be sure what to expect. Fortunately, there are a few things to keep in mind that will help you plan for the time it takes to go through the closing process. Once you’ve made an offer, you may be ready to move in, but the...
What happens if the home you want to buy doesn’t pass inspection?
Buying a house can be as risky as it is thrilling. You may feel so excited when you find a house in the right school district that is within your budget that you can barely contain yourself. You may have an emotional response to the perfect breakfast nook or a...
What do sellers have to disclose to new home buyers?
As someone who is interested in buying a home, you’re on the path to homeownership. This is an exciting time in your life, but it can also be scary. You’re going to spend thousands, if not hundreds of thousands, of dollars on a property, so you want to know everything...