How Higher Energy Costs Will Affect Housing Demand, Oil Tank Due Diligence When You Buy Property, US Homes Sales Move Again

How Higher Energy Costs Will Affect Housing Demand

Real Estate Tip:

When you pay for an oil tank scan on a property you are going to buy, have the company you hire determine whether the tank is actively in use. If the tank has been taken out of service, you should request all documents relating to the tank closure including town permits and contractor reports. These documents will prove the tank was closed properly according to regulatory guidelines.

Real Estate Insight:

US existing home sales fell again in December, concluding the weakest year for home sale activity since 2014.

How To Avoid A Home Bidding War, Lease Due Diligence For Rental Properties, Hotel Conversion Opportunities

How To Avoid A Home Bidding War

Real Estate Tip:

Always ask to see any existing leases for any rental property you are considering for purchase. If you buy the property, you will be subject to the terms of those leases. Make sure the leases match the seller’s representations.

Real Estate Insight:

Both private and government buyers are finding real estate conversion opportunities with U.S. hotel owners who are reevaluating the highest and best use of their properties due to the COVID-19 pandemic.

Should Home Sellers Lower aSKING Price During Pandemic?, Should You Paint Or Do Flooring First During Rehabs?, Real Estate Permit Extension For NJ Construction Projects

Should Home Sellers Lower Asking Price During Pandemic?

Real Estate Tip:

Replacing flooring and carpeting is dirty work. If you paint first, dirt and dust will end up on freshly painted walls. Install new carpet or flooring before you paint.

Real Estate Insight:

NJ Governor Murphy passed a state law to extend the timeline for governmental permits and approvals for real estate projects that were stalled by the pandemic.