Basic Real Estate
This document legally transfers ownership to a new owner
What is a Deed
Failing to disclose the occurrence of this event when asked could land a seller in legal trouble
What is a death?
What is the process for reviewing the chain of ownership of a property to make sure there are no title defects
What is a title examination?
This process is used to determine the value of a home
What is an appraisal
While common to find in attics and basements sometimes home inspectors will scare buyers with this fungus like substance
What is mold?
What is the best product to purchase to protect yourself from unknown defects in the chain of title, such as a forged document
What is Owners Title Insurance?
Term for selling a property for less than is owed
What is Short Sale
When a property owner fails to make mortgage payments the lender may take possession through this legal process
What is Foreclosure?
What is the term for when a real estate broker represents the buyer and the seller in the same transaction
What is a duel agent?
This is the term for the sum of money a buyer deposits to signify their serious intent to purchase a property
What is an Ernest Money Deposit
This is your only recourse in MA if someone is squatting in your house
What is eviction?
This process allows you to postpone paying tax on the profit gained from the sale of an investment property if you reinvest the proceeds in a similar property
What is a 1031 exchange?
What is flipping?
The average person moves this many times in their lifetime
What is 12?
In real estate law this term refers to the process by which the government takes private property for public use with fair compensation to the property owner.
What is eminent domain?