Do agents have to disclose nearby construction projects to buyers? The clear, black-and-white answer is… kind of! As you’d expect, some states require more disclosure than others. For example, in North Carolina, the Real Estate Commission requires...
A silent second loan is a second mortgage or subordinate loan that is not disclosed to a lender when disclosure is required. In its illegal form, a silent second loan occurs when a homebuyer obtains additional financing for a down payment or closing costs and...
An egress window is a window designed to provide a safe emergency exit from a room and a means of entry for emergency responders. Building codes commonly require egress windows in bedrooms and habitable basement spaces to ensure occupants can escape in the event of a...
Mello-Roos is a special tax assessment levied on property owners within designated community facilities districts (CFDs) in California. Established under the Mello-Roos Community Facilities Act of 1982, the tax was created to help local governments finance public...
Interim occupancy is a period during which a purchaser is permitted to occupy a property before legal title is formally transferred. Most commonly associated with newly constructed condominiums, interim occupancy begins when the unit is ready for possession but the...
