Month: October 2020

BUYING VACANT LAND

BUYING VACANT LAND

Most real estate agents are concerned by the prospect of representing purchasers that are attempting to purchase vacant land for the purpose of constructing a residence.  If the purchasers are working with a developer or builder that is familiar with the issues and pitfalls and that has a staff to determine feasibility, it is not very …

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NEW HOME CONTRACT ISSUES | ARTICLE 2 OF 2

NEW HOME CONTRACT ISSUES | ARTICLE 2 OF 2

In last week’s Article, I discussed some basic issues that are often involved in New Home Contracts.  Agents should not be providing legal advice about these contracts, but should at least be familiar with some of the frequently encountered questions and issues that purchasers might encounter. Purchasers can expect the contract to have exculpatory language for …

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A REVIEW OF TITLE INSURANCE: BASIC VS. ENHANCED COVERAGE

A REVIEW OF TITLE INSURANCE: BASIC VS. ENHANCED COVERAGE

Real Estate Agents, as well as consumers, are generally familiar with title insurance which requires a one-time premium payment to guarantee clear title to property for the duration of the purchaser’s ownership.  Traditional lenders will always require that a policy of title insurance be purchased to insure that there is no loss or claim that …

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