Key takeaways Mineral rights define who owns underground resources like oil, gas, coal, and precious metals. Missing or sold mineral rights can affect property value and negotiation power during a home sale. Ownership of mineral rights can be separate from surface rights. Knowing who owns mineral rights is essential before buying or selling property. States […]
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Key Takeaways What sellers pay for: Sellers usually cover real estate agent commissions (typically 3%-6% of the sale price), owner’s title insurance (around 0.5%-1% of the home’s price), and various closing costs that generally range between 2%-5%. These figures represent national averages — actual costs can vary significantly depending on location and property value. What
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Key Takeaways: Though off-market properties are homes not listed on the MLS, they can provide buyers and investors with exclusive opportunities. Networking, direct outreach, and online platforms are common strategies. Real estate agents often have insider access to upcoming listings. What are off-market properties? Off-market properties are homes that are for sale but not publicly
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Key Takeaways: Teardown houses are often worth more for their land than their structures. Pricing should reflect location, lot size, and redevelopment potential. Selling as-is saves money on unnecessary repairs. Zoning, demolition costs, and permits affect value and buyer demand. What is a teardown house? A teardown house is a property where the land value
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Key takeaways A down payment gift can help buyers afford a home faster, but lenders require strict documentation. Who can gift money for a down payment depends on the loan type: usually family, sometimes close friends, or organizations. A gift letter, proof of transfer, and the donor’s financial documents are standard requirements. IRS gift tax
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Key takeaways: A rent-back agreement (also called a seller rent-back or post-settlement occupancy agreement) lets the seller remain in the home after closing and pay rent to the buyer. It’s useful when sellers need more time to find or move into a new home, avoid temporary housing, or deal with construction or loan delays. Buyers
Rent-Back Agreement: What It Is, How It Works, and What Buyers and Sellers Should Know Read More »