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Posts tagged "Residential real estate"

The problems mechanic's liens pose to homebuyers

Homebuyers in the Philadelphia area have a lot to worry about when they are finishing up the purchase of their new residence. Aside from the practicalities of re-locating one's family, there are a lot of financial and legal problems that have to be addressed.

What do I do if I discover a title defect on my home?

Although Philadelphia residents may choose not to think of such a scenario, it is always possible that they could buy a house in either the city or somewhere else in southeastern Pennsylvania, move in and start fixing up the home and not find out until later that someone else has either a lien or some claim of ownership over the property, a scenario that in the legal world is referred to as a "title defect".

Arrival of tech giant in Philly could increase costs for some

When a new business moves into town, it is generally something Philadelphians want to celebrate. After all, especially if the business is offering high-paying jobs, it may mean more people coming in to the city who will have plenty of money to feed in to the city's economy.

The different types of real estate deeds

Perhaps, the most important document exchanged during Pennsylvania residential property transactions is the deed to the property itself. The deed is what gives the new owner the legal right to do what he or she wishes with the land, as no one can be handed a piece of land like one would give somebody an article of clothing or even a car.

Seller's market in Philly shows no sign of slowing

Philadelphia's housing inventory, that is, the number of properties available for sale, is notably low right now, and it means that sellers are getting multiple offers on homes even days after they go on the market. Buyers are having to offer above list price and have also been willing to make important concession in their real estate contracts, such as agreeing to be bound by a sale even if an appraisal suggests they are paying too much.

Protecting against violations of disclosure laws

A previous post here discussed Pennsylvania's Seller Disclosure Law and how that law changes the traditional doctrine of "caveat emptor," or let the buyer beware. A seller not only has to be truthful in what he or she does say about a home or other residential property, the seller also has a duty to report certain material defects.

Philadelphia still a great value for newcomers

Although slipping a bit from the number two spot last year, a recent report prepared by a website specializing in personal finance found Philadelphia to be one of the top ten most "undervalued" cities in the country, coming in at number eight. In the survey, an "undervalued" city is one in which a person buying a home in that city will likely get more out of their real estate investment in the city than the are likely to put in.

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