real estate terms: Real Estate Terms | What Are Encumbrances? - 07/01/11 04:15 AM
When making the choice to buy a home, it is of utmost importance to make acceptable everything related to the real estate transaction in question. You definitely don’t want to enter into a contract and later find something structurally wrong with the home you just bought. You may not realize it, but the home’s title has the potential to adversely affect your home purchase as well.
If you’re a home seller, this also concerns you. Since it can set you up for unwanted liability, even if you accidentally forget to disclose something, it’s not something you want to do. Taking precautions on … (0 comments)

real estate terms: Real Estate Terms | ILC and Land Survey - 05/31/11 06:18 AM
A land survey is a process used to accurately locate the boundaries and monuments of a given property. The ILC (Improvement Location Certificate), on the other hand is a certificate and not a survey. It is a certificate highlighting the surveyor’s judgment stating that the buildings and the major monuments seem to be located on the property the way it is described in the deed. The difference between ILC and survey is that the surveying techniques used for making the Improvement Location Certificate (ILC) is not enough to exactly pinpoint the property’s location and dimensions. These techniques are also insufficient to … (1 comments)

real estate terms: Real Estate Loans | PITI & Home Loan Repayment - 04/21/11 10:03 AM
When it comes to home ownership and the real estate industry in general, there are so many terms floating around that it’s understandable to want to ignore some of them. Most times, you can just have an accountant, real estate agent or an attorney handle the complicated terms you don’t understand yourself. PITI is one of those acronyms you’ll want to take note of and commit to memory, however.
PITI is an important acronym that deals with your home loan payment. It is an acronym for the four types of costs that are associated with your mortgage payment. These are principal, interest, … (0 comments)

real estate terms: Seven Tricks for Selling with For Sale by Owner - 02/09/11 06:58 AM
In modern times, a home seller has to consider all his options. Quite a few are choosing to forego the extra expense of a realtor and trying to sell the home by them. The best way to sale your house is to keep these tips in mind.
Start by investing in improving your home. When you are selling your home, the impression it gives to buyers is extremely crucial. The price shouldn't be prohibitive. It can be something as simple as painting one wall a vibrant color, or a new colorful centerpiece for your dining room table. It really is the easy … (3 comments)

real estate terms: Legal Terms Homeowners Need To Know: Lis Pendens - 01/11/11 02:33 AM
“Lis pendens” like most legal terminology is in the Latin language. As a person without a legal background, the expression is probably not comprehensible to you. As an expression that is important to become thoroughly familiarized with, the explanation that follows will give you some background.
Interpreted directly, "lis pendens" means "suit pending." Any lawsuit currently pending in the United States could be referred to as this. As a potential homeowner, how does this affect you? Actually, it can mean a lot.
Once thought to mean any suit at all that was presently without a final decision, lis pendens is relevant to … (1 comments)

real estate terms: What Is An Easement In Reference To Real Estate? - 01/11/11 02:30 AM
Ever wonder what happens to people who purchase property that is land-locked? Not every property can have entry to a road, right? Especially in a culture that tends not to think twice before initiating a lawsuit, people probably will not view the idea of illegally using a neighbor’s land to get themselves to the closest highway too kindly. What then will you be able to do if you’re a land-locked property owner?
This is where we talk about easements. The right to utilize another person's property without actually owning it is what an easement is. Easements make it possible to access routes … (0 comments)

real estate terms: Marketable Titles - 12/20/10 02:44 AM
If you’re like the majority of people, you probably think having a home inspection is the only thing you have to do before purchasing a house. There’s nothing wrong with the house if the actual structure of the property passes the inspection, right? That is simply not accurate.
You should also be aware that there is another aspect to guaranteeing a property is ready to be closed on other than simply checking up on the physical features of a home. A marketable title is also a concept that exists. Keeping an eye out for this is absolutely something you want to do.
In … (0 comments)

real estate terms: Homebuyer Advice: Doc Fees - 12/07/10 01:36 AM
Imagine this: You are almost ready to buy a house. Depending on the price you offered to pay, you think you know what you’re getting into. Since you are thorough, you have done research into the commission your real estate agent will get for his or her aid in locating you the house of your choice. Is a doc fee now showing up as an unforeseen part of your house expenses in order to gain access to your new home’s actual title?
A doc fee, also called a documentation fee, is a price charged above and beyond the normal costs of hiring … (0 comments)

real estate terms: How Does The Lot And Block Survey System Work? - 10/22/10 04:43 AM
When it comes to methods of surveying land, there are three main ones. The most recent of the three is the lot and block survey system. US and Canada utilize this method frequently in order to identify land after locating it. It is especially helpful in densely populated areas.
This kind of survey system starts with a large tract of land. Then the large parcel is broken up into smaller lots. After this, a map of these tracts is created. Each one of the tracts is given a number or letter. The land is then drawn out on paper and archived by … (1 comments)

real estate terms: Should You Sell Your House FSBO? - 10/21/10 04:04 AM
FSBO is a easy real estate acronym which is often pronounced as “fizzbo”. It stands for “for sale by owner”. A home is sold FSBO if anybody who goes through the procedure devoid of representation by a real estate agent or broker.
A selection of different techniques to sell a house may be utilized by homeowners without the aid of a real estate agent or broker. You can opt to utilize a company specializing in marketing or online listing, as an example. Utilizing a lawyer’s services and counsel to aid in the process of the sale is a different way a property … (2 comments)

real estate terms: Wet Vs. Dry Loans In Various States - 10/20/10 03:55 AM
Believe it or not, within the real estate business, these terms do not involve the sale or distribution of alcoholic drinks. It refers to the period where a new buyer can take ownership of a property as soon as a new mortgage is regarded as closed.
Depending on the laws of the specific state where the loan occurred, “wet settlement laws” need lending banks to distribute funds as soon as a certain period of time has passed from the closing date of the mortgage. Laws vary and disbursement period can range from the day of settlement to within two days of … (2 comments)

 
Colorado Blog by TopRock (TopRock Internet, LLC)

Colorado Blog by TopRock

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This Colorado blog contains information about various activities, interests and Colorado cities. Of course, it also contains some pretty helpful real estate information ranging from market trends to home improvement suggestions. We hope you will find this blog to be a great source of information. We have a lot of Colorado based articles and news pieces posted here and we will hope you find at least a few of them useful to you.


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