Many people in Pennsylvania who want to buy a house cannot qualify for a bank loan secured by a mortgage. In such circumstances, these buyers frequently enter into an installment land contract with the seller. Such an agreement can offer a path to home ownership that may be closed by financial circumstance, but such contracts also have an element of risk that should be understood by anyone considering signing such an agreement.
Buying a new home is always a thrilling event, but it may also be stressful at times. Residential real estate sales were on the decline for quite some time, but it seems as if things are starting to look up in the area of property transactions.
For those buying or selling residential real estate properties in the Philadelphia area, having an attorney can be incredibly helpful while navigating the often complicated process. There are various intricate aspects involved in property transactions, such as negotiations, inspections, disclosures and closings.
Some states across the country are seeing signs of a reversal of the economic downturn. This would mean many things, including the possibility that there would be a turn for the better in residential real estate, and that foreclosures would be of a decreasing occurrence. Unfortunately, according to a report recently released by Wells Fargo, this may not be the case in Pennsylvania.
Whether a resident of Pennsylvania is buying or selling a home, it is often a very exciting experience. There are numerous steps that must be taken for both buyers and sellers, but the completion of all these steps often ultimately leads to an exciting life change. In all of the excitement involving in buying a home, the last thing the buyer is thinking about is the possibility of eventual foreclosure. Unfortunately, foreclosure does lie in the future of some Pennsylvania homeowners.
If you're like most people, purchasing a home is one of the biggest decisions you'll make in your life -- right up there with getting married or having children. The risks are significant, and potential homebuyers in Philadelphia would be wise to do their research and cover their legal bases before purchasing a house or a condominium.
Mixed responses of hope and skepticism have surrounded the ordinance that created Philadelphia's new Land Bank, which is aimed at cleaning up and repurposing the city's roughly 40,000 underused or blighted properties. Philadelphia is currently the largest U.S. city to establish a land bank, and other cities with major real estate problems are undoubtedly looking to Philadelphia as a possible model.
It's the holiday season, but a story out of Dunmore, Pennsylvania, hearkens back a couple of months to Halloween. At issue: a home seller's responsibility to disclose to a buyer the property's allegedly haunted history. Or, should a seller have to inform a buyer of any prior deaths or violent crimes that occurred in the residence?
Nearly $56 million dollars surfaced in the lengthy investigation of 13 bank accounts overseen by the Philadelphia Sheriff's Office. Much of the money was accumulated over the last dozen years and was labeled as unclaimed proceeds from sheriff-imposed real estate sales.