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Frequently asked questions about real estate and property law

  1. What is the difference between a pre-sale and pre-purchase home inspection?

    by on 02-27-2011 at 09:23 AM
    A pre-sale home inspection is not the same as a pre-purchase home inspection. Most people are familiar with pre-purchase inspections that are often performed at the expense of a buyer as a contingency to the sale.

    The seller pays for the pre-sale home inspection to find problems before putting the house on the market.

    Once the pre-sale home inspection is complete, the seller can choose to repair the problems or leave them alone. If left alone, all problems must be ...
  2. What is eminent domain?

    by on 02-24-2011 at 09:21 AM
    Eminent domain is what the state reserves as its right to take private property for public use, with just compensation to the owner. Just compensation is usually the property’s fair market value.

    The process of declaring and fighting eminent domain varies, but it usually follows these steps:
    • The government tries to negotiate a purchase for fair market value.
    • If the owner won't sell, the government files a court action.
    • At the hearing, the government has to prove it tried
    ...
  3. What does a typical real estate purchase contract look like?

    by on 02-14-2011 at 09:19 AM
    If you’re planning on buying or selling a home yourself, you’ll need to write a real estate contract. This might seem like a daunting task, but a basic contract is really quite simple.

    The purpose of a real estate contract is to identify the property, name the buyer and seller, state the amount of money that will be paid & the method of payment, and establish the date when the title will be exchanged for the money.

    When identifying the property, it’s important to ...