🏡 Real Estate News: March 2024

Real Estate and Relationships 

If you intend to purchase a property with a relative, partner, financee, or another married or un married individual, you may consider contacting your trusted attorney to draft a partnership or business operations agreement in advance of going into title together. This agreement is important, as it will define the parameters of your business relationship in connection with your real estate purchase. In the event the one party or both decides to sell the property, the terms for resolution are clearly spelled out in advance of the sales process. Having this agreement in place, may potentially save you time, energy, and money, in addition to the personal relationship with said individual. Everything in real estate appears to be fine, until it’s not fine!

Vesting into Title on a Property

How you vest into title on a property matters. In advance of purchasing real estate, it’s important to understand and determine the highest and best use for each investment and who will technically own it. Seek council in advance to determine if you should purchase in a business name or as an individual. In the event you desire to purchase a property in a trust, business name, or corporation, have your entity set up sooner rather than later. You can purchase property in a personal name, and “assign” the agreement in the event all parties agree to this term. Ideally, these details are planned out well in advance and you’re prepared to enter into a purchase agreement, able to provide the title company with all documentation needed. Want more information? We can connect you with a title company to learn more. 

The importance of a Last Will & Testament 

If you own real estate, we encourage you to have a last will and testament. This document spells out how you personally desire your estate to be handled by an individual who survives your passing, as your designated representative. Please consult your trusted council on the positives and negatives of having or not having a will. Reach out to them for further advice and to draft this document for you today! 

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NWMLS February 2024 Housing Snapshot

We are a competent, caring and professional team who take care of you like family. With decades of experience in our respective fields, you’ll find we are knowledgeable experts, ready to guide you through the entire process with nothing left unexplained. Our team strives to make your buying and selling journey a positive one, with your satisfaction our top priority. We provide a full-service real estate experience with consistent communication and absolute transparency. We are standing by to walk you through the process from start to finish, including a comprehensive value proposition, staging, applying our exceptional marketing strategy and finalizing the successful sale of your home. Buyers will benefit not only from our strong home search tools, but also from negotiation expertise and extensive home construction knowledge. We are all committed to making your buying or home selling experience one that exceeds your expectations.

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