Daily Real Estate News

Owners See Perks of Home Rentals

NAR Daily News Magazine - September 24, 2021 - 1:00am

Roommates, parking spots, and short-term rentals can all bring in income to help owners balance their budgets.

Top Places to Buy a Beach House in 2021

NAR Daily News Magazine - September 23, 2021 - 1:00am

Find out which coastal locations are amenity rich with lower housing prices near the beach.

What Couples Fight Over Most When Home Shopping

NAR Daily News Magazine - September 23, 2021 - 1:00am

Couples are most likely to disagree on these four items when purchasing a home together.

Fed Hints Mortgage Rates May Soon Rise

NAR Daily News Magazine - September 23, 2021 - 1:00am

The Fed announced it would soon begin tapering its bond purchases. That will likely send mortgage rates higher.

Tech Firms Embrace Remote Work—and Office Buildings

NAR Daily News Magazine - September 23, 2021 - 1:00am

Google announced it’s purchasing a New York City building for $2.1 billion, one of the priciest in U.S. history. Fears over the office sector’s demise appears overblown, analysts say.

More Buyers Are Taking Risks to Get Dream Home

NAR Daily News Magazine - September 23, 2021 - 1:00am

A new survey shows 40% of buyers are willing to pay $20,000 over asking and make concessions—some concerning—to get the home they want.

Recommendations for Making MLSs More Transparent

NAR Daily News Magazine - September 22, 2021 - 1:00am

An NAR advisory board is proposing changes to the MLS policy to ensure buyers and sellers understand agent compensation and have access to all listings.

How Art Can Help Revitalize Neighborhoods

NAR Daily News Magazine - September 22, 2021 - 1:00am

Through creative placemaking, communities can revive underutilized and distressed properties as well as reinvigorate the local economy.

Home Sales Slip as Buyers Reevaluate Their Home Search

NAR Daily News Magazine - September 22, 2021 - 1:00am

Though they’re still hunting for property, buyers are more mindful of their financial limits and taking longer to make purchase decisions. Read more from NAR’s latest housing report.

Choices for 2022 Color of the Year: Green Is Gold

NAR Daily News Magazine - September 22, 2021 - 1:00am

Sherwin-Williams joins other paint companies in announcing a calming hue of green as its pick. See what it looks like.

Multifamily Construction Booms, Single-Family Starts Slow

NAR Daily News Magazine - September 22, 2021 - 1:00am

“A shift toward rental buildings means less access to homeownership over the long run,” says NAR Chief Economist Lawrence Yun.

Real Estate Q&A: Our Condo Board Is Dragging Its Feet on Approving Our Buyer. What Can We Do?

RisMedia Consumer News - September 21, 2021 - 6:02am

(TNS)— Q: We are selling our condo, and closing is fast approaching. Our condo  board is dragging its feet on approving our buyer. We are getting concerned because we must pack and move out, and we do not even know if our buyer will be allowed to buy our home. What can we do? — Anna

A: Selling your home can be incredibly stressful. Not only do you have to worry about your buyer getting association and financing approval, but you have to move to your next home.

The best way to deal with this complex situation is by first getting educated and then getting organized.

You should find out as much as you can about the closing process. Review the purchase contract, your condo’s governing documents and some of the many websites explaining the process.

Interview your real estate agent and closing attorney to make sure you hire professionals who know what they are doing and will answer your questions. Then ask questions.

Take charge of your closing. Delegate tasks to your team, but do not abdicate your responsibility to them:

  • Make a list of the deadlines in your purchase agreement.
  • Make sure that your buyer is following them. Ensure their loan and association membership applications are submitted on time.
  • Follow up with your community manager to confirm the application was received and complete.
  • Find out what the process is and keep politely following up to make sure it keeps moving forward.
  • If the process falters, gently push it along. Always be polite and helpful, and remember you want your association on your side.

By staying on top of your deal, it will most likely go smoothly.

And if it does not, you will know about it well ahead of time. Not every transaction works out, but little is worse than finding out about the problems for the first time on closing day.

Gary M. Singer is a Florida attorney and board-certified as an expert in real estate law by the Florida Bar. He practices real estate, business litigation and contract law from his office in Sunrise, Fla. He is the chairman of the Real Estate Section of the Broward County Bar Association and is a co-host of the weekly radio show Legal News and Review. He frequently consults on general real estate matters and trends in Florida with various companies across the nation. Send him questions online at www.sunsentinel.com/askpro or follow him on Twitter @GarySingerLaw.

©2021 South Florida Sun Sentinel
Distributed by Tribune Content Agency, LLC

The post Real Estate Q&A: Our Condo Board Is Dragging Its Feet on Approving Our Buyer. What Can We Do? appeared first on RISMedia.

Modular Homes Building Splendor Into Prefabs

NAR Daily News Magazine - September 21, 2021 - 1:00am

More manufactured-home options are stretching into the high-end market and offering quicker construction timelines with ultra-luxury touches.

Survey: Owners Fear Inability to Recover From Disaster

NAR Daily News Magazine - September 21, 2021 - 1:00am

The majority of homeowners in hurricane-prone states aren’t aware of their flood risk and may not have insurance coverage, realtor.com® data shows.

Appraisal Valuation Gap Uncovered in Minority Areas

NAR Daily News Magazine - September 21, 2021 - 1:00am

Freddie Mac released a new analysis that alleges appraisal values are more likely to fall below the contracted sales price in Black and Latino neighborhoods.

Agent Stages Abandoned Property With ‘Creepy Dolls’

NAR Daily News Magazine - September 21, 2021 - 1:00am

The gimmick was meant to “lighten up the photos” of this “hideous and horrifying” Louisiana home, the real estate pro says.

Buyers Aren’t Breaking the Bank to Afford Home Prices

NAR Daily News Magazine - September 21, 2021 - 1:00am

Low mortgage rates have helped to keep mortgage payments manageable for many. But what will happen when borrowing costs rise?

Foot Traffic at Malls Climbs Above Pre-Pandemic Levels

NAR Daily News Magazine - September 20, 2021 - 1:00am

Despite threats from the rapidly spreading delta variant, retailers and property owners are benefiting from an increase in shoppers.

10 Areas With the Most Homebuilding Activity

NAR Daily News Magazine - September 20, 2021 - 1:00am

Even though builders face higher costs and severe labor and lot shortages, new construction has been on the rise in some parts of the country over the past year.

Report: Student Debt Sidelines Half of Would-Be Buyers

NAR Daily News Magazine - September 20, 2021 - 1:00am

Experts say borrowers shouldn’t defer student loan payments but might instead consider a co-signer to qualify for a home loan.

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