Why You Must Have Title Insurance as a Homebuyer

Homebuyers often feel overwhelmed by the high number of tasks that must be completed prior to closing, but there’s one step in particular that homebuyers cannot afford to overlook:  securing title insurance.  Title issues arise more often that you might think, and title insurance protects you against costly legal disputes over whether you truly own your home, free and clear.    Why Do You Need Title Insurance?    Although even conscientious homebuyers may not immediately see the need for title insurance, unforeseeable issues may arise and result in an expensive legal challenge to your title:    You might buy your
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WHAT YOU SHOULD KNOW ABOUT SELLING YOUR HOUSE IN PENNSYLVANIA

Spoiler alert: you don’t need a realtor for this, which means you’ll save thousands of dollars. In today’s market, it is easier than ever to sell your house without a Realtor. An attorney can help you sell your home from the beginning of advertising your home to the end by recording the deed to transfer your home.  The pros of this are many: You save money, because you don’t have to pay the Realtor’s nearly 7% (in many cases) commission You have fewer people in the mix, which means less confusion You’ll have one point of contact throughout the ENTIRE
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What Must I Disclose When Selling Real Estate Property in Pennsylvania?

If you are selling real estate property in Pennsylvania, state law requires that you make certain disclosures to the buyer about the property before closing. The purpose of this disclosure is to aid the buyer in evaluating the property by informing them of any material defects that are not readily observable.      A material defect includes any problem that would have a significant adverse impact on the property’s value or create an unreasonable risk to people on the premises.     The State of Pennsylvania requires you to complete a disclosure statement when selling property with certain exceptions. If the property is being
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Re-Title Your Property to Create a Tenancy by the Entirety After Getting Married

It’s increasingly common for unmarried couples to purchase property together as joint tenants, as they cannot hold property as a tenancy by the entirety if they are unmarried. Compared to a more basic form of co-ownership—”tenants in common”—joint tenancy offers the benefit of right of survivorship. If one person passes away, the other automatically takes full ownership, without the need for the property to go through probate.    However, once a couple marries another form of joint-ownership becomes available to them: tenancy by the entirety. In most states, if a couple is married at the time they purchase property, the deed with automatically be held as
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How to Get the Best Deal on Title Insurance

Obtaining title insurance is an important part of buying a new home. Title companies conduct a title search to make sure there are no problems with the deed of the property.  They also insure your title to protect you in case problems are discovered later on.    The cost of title insurance is included in closing costs. Often times, when people are buying a new home, they automatically choose to use the title company that their real estate agent recommends—which could be quite expensive—without realizing that there are a few things they can do to get a better deal.      If you are buying a new home, consider the following suggestions
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The Downsides to a Single-Member LLC for Real Estate Investment

Many people believe that forming a single-member LLC for their real estate investment business, rather than acting as a sole proprietor, will effectively protect their assets. However, there are several reasons why choosing a single-member LLC as the legal structure of your real estate investment business may not be the best option. Consider the following:    A court may be able to ‘pierce the veil’.  If a court decides that the LLC and the individual owner are not really two distinct entities, it may ‘pierce the veil’—that is, put aside the limited liability—and hold the single-member owner responsible. Specifically, a court must find:  Unity of interests;  
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What’s the Best Way to Structure a Real Estate Investment Business?

  As a real estate investor, you are well-versed in how to spot a wise investment and manage your real estate portfolio, but many behind the scenes elements of running your business—such as the legal entity you choose to form and organize your real estate investment business—are just as important.    One of the most important things to consider when choosing a business structure for your real estate investment business is asset protection.    Sole Proprietorship    A sole proprietorship is generally not advised for real estate investment businesses, as it affords no protection from personal liability for claims against the business.
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What does “crowdfunding” in the real estate industry mean?

Alternatively known as “crowdinvesting”, real estate crowdfunding is an internet platform that brings together non-institutional investors with owners, developers, and operators of real estate. How much can a purchaser buy? What are investor’s rights? How much can an issuer raise? How is the offering conducted? How is a portal operated? Most capital is raised privately based on one of the “safe harbor” exemptions under a set of rules known as Regulation D. Who may invest? Generally, an investor must be “accredited.” An “accredited investor” can be either an institutional investor or an individual. How can individuals qualify to be an
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