Buffalo NY Real Estate Articles
Home »
Take steps to safeguard from fraud in everyday life
Take a quick look at your email spam folder. If it’s anything like ours, you probably have at least a half-dozen emails telling you that you’ve won an exciting prize, or maybe even a couple from banks saying there is a problem with one of your accounts. It’s an easy...
When is it appropriate to rent back the property you are selling?
Imagine this scenario: You’re selling your house and purchasing another. You’re told you need to be out of your home by a specified closing date. Unfortunately, your new destination experiences a construction delay and isn’t going to be ready by the closing date....
Selling your home? Do you know your neighborhood’s absorption rate?
There are many things to consider when selling a home, but here’s a term that you may have never heard of: absorption rate. And, it’s important to know the absorption rate for your property before you list it for sale! Allow us to explain … The National Association of...
Before making the big move, do your homework
Whether you’re moving down the street or to a new city or state, the physical act of moving can be stressful and, at times, overwhelming. So before you embark on the big move, do a little homework to ensure it’s as seamless as possible. When looking for movers, choose...
Be prepared to talk with your parents about selling the family home
Have you sat down and had “the talk” yet with your parents? No, not the talk about the birds and the bees. This conversation — with an aging parent or parents — focuses on their changing needs and the possibility of moving on from the family home. At one point in...
Olear Makes It Clear – Episode 23 – VA Mortgage
VA Mortgage: A VA (Veterans Administration) mortgage allows active service members, veterans and surviving spouses to receive backing for home financing that takes the form of guarantees by the Veterans Administration. Benefits can include a more favorable mortgage term, zero downpayment and more!
Olear Makes It Clear – Episode 22 –Short Sale
Short Sale: This occurs when a homeowner sells a property for less than what is currently owed on it, which can result in a difficult transaction for all involved. A homeowner cannot begin the short sale process until they are behind on payments for a set period of...
Olear Makes It Clear – Episode 21 – Rights of Survivorship
Rights of Survivorship: This is used when two or more people purchase a property together in their individual names, creating a legal relationship also known as “tenancy in common.” When one owner dies, the property automatically transfers to the other individuals on...
Olear Makes It Clear – Episode 20 – Rate Lock
The rate local allows the mortgage borrower to secure a guaranteed interest rate for a set period of time so they know what the actual rate will be when they complete the purchase of a property. When you lock a rate, you’re not subject to any increases in borrowing...
Take a good look — inside and out — before buying
Olear Makes It Clear – Episode 19 – Quitclaim Deed
Quitclaim Deed: A quitclaim deed is a legal instrument used to remove someone from ownership of a specific property while leaving other existing owners in place. This action is frequently taken when one owner buys out another, which could be part of a divorce or to...
Olear Makes it Clear – Episode 18 – Homeowner’s Association
Homeowner’s Association: Also referred to as an HOA, the homeowner’s association provides organizational structure and sets rules for a specific community. The HOA is typically governed by a board of directors elected by all of the property owners. The HOA also...
Is a condo or a townhouse the right move for you?
In this business, we often run across people who use the words condo and townhouse interchangeably. Well, that would be incorrect. Basically, a condo is the interior space of a housing unit that may also include a porch, while a townhouse includes exterior surfaces and the land the dwelling is built on.
Olear Makes It Clear Episode 17 – Planned Unit Development
Planned Unit Development: This refers to a housing community made up of a variety of styles such as condos, townhouses, patio homes and/or detached single family structures. It’s possible that some commercial units may be included as well. And, there are alway common...
Keeping older adults safe at home
It’s a fact: The older we get, the more likely we are to suffer a fall in the home. Additionally, falls are the leading cause of injury—both fatal and non-fatal—for adults over the age of 65. While we can’t help but age, there are some steps we can take to help...
Olear Makes it Clear – Episode 16 – Easement
An easement on a piece of property grants another person or entity the right to utilize a portion of the same property for a specified purpose.
Olear Makes it Clear – Episode 15 – Chain of Title
Chain of Title: When a property is being sold, it’s required to establish chain of title, or documentation showing all previous ownership of that parcel of property.
Is having multiple executors a good idea?
When someone passes away and has a will, one of the first questions to be asked is, “Who is the executor?” While being named executor can be looked upon as an honor, knowing that the deceased saw you as an intelligent and capable human being with the ability to...
Olear Makes it Clear – Episode 14 – Annual Percentage Rate
Annual Percentage Rate: Also known as the APR, the annual percentage rate is the amount the borrower is charged by the lender over the life of the loan.
Olear Makes It Clear – Episode 13 – Acceleration Clause
Acceleration Clause: Often added by a prospective purchaser to their offer when competing with other potential buyers for the same house, an acceleration clause raises their base offer above other offers until a specified top-end dollar amount has been reached. This...
That time I almost got arrested before the final inspection
No matter what career you have chosen, we all have that one day that will forever stick in our mind. Mine had to do with one whacky real estate transaction where a misunderstanding nearly led to my arrest! Here’s what happened: The purchaser of this particular...