The Blog

What is Property Tax Proration?

When people buy and sell real estate, buyers and sellers must pay several costs before transferring the property to a new owner, called closing costs. Within these closing costs, buyers and sellers need to negotiate the proration. There ...

Everything You Need to Know About Proof of Ownership

To own a property, you need specific real property documents to support your rights to the property. Real property includes any structures on the land, any person’s rights and interests related to the property, and natural parts of the ...

Option Fees Vs. Earnest Money: What’s the Difference?

The real estate market can be confusing to both buyers and sellers alike. During the pre-closing routine, realtors may send several documents to both parties. One of these documents deals with option fees and earnest money. Since real ...

When Should You Hire a Real Estate Attorney?

There are many different circumstances in which hiring a real estate attorney is advisable. A handful of states require the presence of a real estate attorney during closings. In states where a lawyer is not required, there are ...

Fair Market Value vs. Adjusted Basis Value: What’s the Difference?

The fair market value and the adjusted base value are calculations used at different times to determine an asset’s worth. Fair market value is a general calculation to determine the value of an asset if it were to be sold. People use this ...

Do Tax Liens Affect Your Credit Score?

  • Team
  • 03/28/2018
  • Finance
It’s that time of the year again – tax season. If you were unable to pay taxes you owe in past years, you might run into trouble when you file this year. The Internal Revenue Service (IRS) might inflict penalties, late fees, and interest ...

How to Read a Plat Map

A plat map shows a piece of land, drawn to scale, with details such as nearby properties, boundaries, land size, flood zones, the surrounding neighborhood, easements, and monuments. When you purchase a home, one of the documents you ...

Real Estate Appraisal vs. Home Inspection: What is the Difference?

As someone involved in a real estate transaction, you might come across two types of services prior to the sale of a home: real estate appraisal and home inspection. Although an appraiser and a home inspector may appear to be looking at ...

Judgment Liens on Property in Texas

A judgment lien is a court-ordered arrangement in which the creditor (the person who won the judgment) can place a lien on the debtor’s (the person who owes the money) property to ensure that he or she gets what the debtor owes. A judgment ...

How Does Right of Survivorship Work?

If you jointly own a piece of property with one or more parties, you need to know about the legal right of survivorship. Nobody likes to think about what happens if one of the joint owners passes away, but it’s always better to be prepared ...