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A Checklist For Bathroom Remodeling Plans
Careful planning is the key to a successful bathroom-remodeling project. Before you begin any work in the bathroom, create a budget, a floor plan, a list of supplies, a timetable, and important legal considerations. Let's break it down by subject.
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Choosing A Countertop That Is Right For You
Choosing a kitchen counter material can be an overwhelming task in the midst of a huge kitchen makeover. Before you select a material, try to decide what look you are going for. Scour magazines and take a trip to your local home ...
Discount Granite Countertops
The beauty and warmth of granite makes it an ideal countertop material for aesthetic and practical purposes in most any kitchen. In addition to its natural strength, granite is a very beautiful stone that adds color and warmth to a room. Although...
Home Improvements – General Points
Every home improvement situation is different. Still, there are some general points that apply to most projects.
Some General Points
When all the woodwork in a house is the same color (cream, white, and off-white work easily), spaces tend...
How To Find The Right Type Of Humidifier Filters?
There are many reasons people choose to humidify their homes. Dry air caused by winter or living in a dry climate is responsible for a range of problems. Physical symptoms of dry air include: a dry nose and throat, which can make you feel...
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Real Estate Terms – From Condominiums To Deeds Of Trust
When buying or selling a property, it always helps to have a basic understanding of real estate terms. In this on going series of articles, we take a look at definitions starting with “condominium.”
1) Condominium - A type of ownership in real property where all of the owners in a collection of properties jointly own everything except the interior of each property. Accordingly, the jointly area is run by a homeowner’s association, which can assess fees to the owners for improvements, etc.
2) Contract, or Sales Contract, or Contract of Purchase and Sale – the agreement between buyer and seller. In most jurisdictions it must be in writing in order to be enforceable. It covers such things as the identity of the property, the purchase price, any conditions of the sale, the settlement date or escrow period, when the buyer will occupy the property, etc.
3) Contract for Deed – a written document which provides that Deed does not pass to the buyer until the final payment has been made. In the event of default by the buyer, the property reverts to the seller. (One sees these occasionally. I’ve seen them when an owner was financing the sale of raw land for a buyer.)
4) Deposit, or Good Faith Deposit – an amount of money tendered by the buyer at the time a contract offer is made on real property. The contract spells out who holds it, and circumstances under
which the seller gets it, and circumstances under which it’s returned to the buyer. Typically, the seller gets it as part of the purchase price at settlement, or as liquidated damages if the buyer defaults. The buyer usually gets it back if a condition of settlement is not met.
5) Deed – the written document which conveys title to real property. Some states are “record” states and ownership is defined by the deed’s being recorded at the courthouse in which the property lies.
6) Deed of Trust – the document which allows a third party to act for the lender should the lender need to forclose on real property used as collateral for a loan.
As you can image, there are many real estate terms for which you have a general understanding. In our next article, we continue with the terms starting with “Easement.”
About the Author: Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
Source: www.isnare.com
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