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Online Home Buying

Considering the purchase of a home over the Internet? Over the past few years, the popularity of the internet has increased tremendously. With information about virtually anything being easily accessible with only a few clicks, people are using the internet for more and more things, including purchasing homes. This can be convenient yet risky at the same time, and our residential real estate lawyers are more necessary now than ever if this situation presents itself.

Are you or someone you know getting ready to purchase a home from the internet? Contact our Residential Real Estate Lawyers today!

Residential real estate lawyers are necessary for any of the following reasons if a home purchase from the internet is being made:

  • The home may not be seen in person before a transaction is final
  • To make sure everyone involved agrees to the terms
  • The purchaser is usually without the advice and aid of a real estate agent
  • To avoid hidden surprises and/or fees

According to a recent study, 80% of home buyers have used the internet to find a home. While most of these individuals just used the internet as a resource to locate the home, many actually did the entire process 100% online, which is even more risky. Whichever route is chosen,  qualified residential real estate lawyers are essential in making sure the entire process goes smoothly.

Using the internet as a primary source for property searching is becoming so popular, that by the end of the month, it will possible for some cell phone users to use GPS and locate an apartment. Unfortunately, a lot of these people are making their decision based on photos which can be misleading, virtual tours, and the seller’s word. More and more individuals are using technology to find a home – whether to buy or rent – and this poses even more risks and legal issues, just like anything that is done over the internet. Contact our residential real estate lawyers today.

Are you or someone you know getting ready to purchase a home from the internet? Contact our Residential Real Estate Lawyers today!

 

 
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  Did You Know?
 

The garage is not considered in the square footage of a home.
A garage that is attached to the home is not considered part of the home's square footage.  Only livable space is considered in the square footage calculation.

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RESPA protects certain types of transactions.

Federally related mortgage loan transactions, such as loans secured by a lien on residential property. This includes: refinances, home purchase loans, lender approved assumptions, equity lines of credit, property improvement loans, and reverse mortgages.

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According to real estate case law, second mortgage tax deduction on undeveloped land is not allowed.

Real estate case law states that you must have begun construction of a building on the land that and occupied within 24 months to submit a tax deduction. Otherwise, the land is an investment and the interest paid on the second mortgage does not qualify.

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