Checking Licensing and Insurance Before You Sign Anything Before hiring any contractor, confirm they carry general liability insurance and, for the trades that require it, appropriate state or local licensing — ask for certificates directly rather than taking their word for it, and call the insurance carrier listed to confirm the policy is genuinely active …
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Why Every Homeowner Needs a Repair Budget Owning a home means owning its maintenance, and there's no landlord to call when the water heater fails. Without a dedicated repair budget, an unexpected $4,000 furnace replacement can feel like a financial emergency instead of a planned expense. Setting aside money proactively — even a modest amount …
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How Wire Fraud Scams Work In a typical real estate wire fraud scheme, criminals hack or spoof the email account of a real estate agent, lender, or title company and monitor the conversation until closing is near. Just before funds are due, the buyer receives what looks like a legitimate email with updated wiring instructions, …
What a Cap Rate Actually Measures The capitalization rate, or cap rate, is a property's annual net operating income divided by its purchase price, or current market value, expressed as a percentage. It's a quick way to compare the income potential of different properties independent of how each one is financed — a $200,000 property …
Read more Cap Rates and Cash Flow: How to Evaluate a Rental Property
What Is a Property Lien? A lien is a legal claim against a property that secures payment of a debt. Until that debt is satisfied or otherwise resolved, the lien typically must be cleared before the property can transfer with clear title to a new owner. Liens can attach to a property even without the …
Read more Understanding Property Liens and How They Affect an Ohio Home Sale
Deeds: The Document That Transfers Ownership A deed is the legal document that actually transfers ownership of real property from one party to another, and the specific type of deed used matters quite a bit. A general warranty deed offers the strongest protection available, with the seller guaranteeing clear title going back through the full …
Read more Deeds, Liens, and Closing Documents: A Buyer’s Glossary
Why Refinancing Involves Title Insurance Even though you already own your home, refinancing means taking out a brand-new loan with a new lender, and that new lender wants its own title insurance policy protecting its lien position on the property. It doesn't matter that nothing has changed about who owns the home; the new mortgage …
Read more Refinancing Your Ohio Home: Do You Need a New Title Insurance Policy?
Roof: Age, Material, and Signs of Failure Inspectors evaluate a roof's age, material type, and current overall condition, looking specifically for curling, cracked, or missing shingles, exposed or deteriorating flashing around chimneys, skylights, and vent penetrations, granule loss visibly collecting in the gutters, and any signs of active leaking observable from the attic side, such …
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The Completion Date Clause Most builder contracts include an estimated, rather than strictly guaranteed, completion date, along with detailed language addressing delays caused by weather, material shortages, labor availability, or local permitting backlogs. Look closely at what remedy, if any, you actually have if the home isn't finished on time — some contracts offer essentially …
Read more Builder Contracts and Warranties: What to Read Closely
The Seller Isn't a Person — It's an Estate In a probate sale, the party signing the contract isn't the homeowner in the traditional sense; it's the executor or administrator acting on behalf of the deceased owner's estate, under authority granted by the probate court overseeing the estate's administration. That authority comes from “Letters Testamentary” …