How To Handle Property Line Issues?

April 28, 2021
How To Handle Property Line Issues?

Encroachment is described as any situation in which one person uses or constructs on another’s land. Typically, such conflicts arise when property boundaries are not clearly described or apparent between adjacent properties.

On the surface, encroachment seems to be a simple concept to understand. The basic legal meaning is easy to understand.

In fact, encroachment is much more complicated than this simple description. Here’s what you need to hear about it.

What Does Encroachment Look Like?

Encroachment disputes are almost as old as human society. We’ve had disagreements about such distinctions for as long as we’ve had definitions of “my property” and “your land”.

Fortunately, you don’t have to use a small army to protect your private land. However, it’s important to recognize that encroachment can take many forms.

Here are a few examples of encroachment problems you might run into:

Also Read: What Is the Legal Description of Property?

How To Handle Property Line Issues?

It shouldn’t take much creativity to see how someone exploiting their easy access to an easement will make life difficult for a homeowner. Easements and encroachments are not the same thing. The former is, by definition, unagreed upon. Yes, if the situation calls for it, an easement may be a viable alternative to a possible encroachment.

What Will I Do If My Property Is Encroached Upon?

You have choices for dealing with encroachment. They don’t have to all end up in court.

Although there are times that it is appropriate to seek legal recourse, de-escalating the dispute is always a more direct way of resolving the underlying issue.

The following are some possible encroachment solutions. Please keep in mind that these are just some of the options available to you. Whatever is best for you should be discussed with a trusted attorney.

Also Read: Tips For First-Time Landlords

Approaches to dealing with encroachment include:

Ask for help

Don’t be hesitant to ask for help. If you’re being suspected of encroachment or think your land has been encroached upon, now isn’t the time and try to act as your own lawyer. Major real estate disputes are valid reasons to seek the advice of a competent real estate attorney about your situation and next steps.

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House Hunting Tips for Moving Out of State

April 8, 2021
House Hunting Tips for Moving Out of State

Purchasing a new home that is far away from your current one is a major life decision because it entails a significant financial investment. Having a new home where you can make new friends and start over is also an exciting and adventurous experience. Buying a new home far away from your current location, on the other hand, can be a rather stressful endeavor. It is associated with a great deal of mental and emotional strain. From deciding on the best place to relocate to, to finding the right realtor, buying within your budget, and finally planning your relocation, we’ve got you covered.

Here are a few pointers to help you with your home search.

Make a Budget

When buying a new house, you must know how much money you have set aside for the purchase and relocation. You must be able to calculate the true cost of the house as well as the costs that would be incurred. Figure out how much it would cost to buy a new home, hire a real estate agent, hire a relocation specialist to help you move out, homeowner’s insurance, property taxes and utilities, house repairs, transportation, food, and other costs.

If possible, you will need to consider a mortgage loan from a bank or another mortgage institution willing to lend you the money you need to buy the house. However, working within your budget is recommended to stop accumulating debts that could lead to the loss of your home in the long run. If you don’t have the money right away, you might pay in installments. The first step in buying a new home should be to create a budget.

Also Read: Things You Should Know About Your House Down Payment

Inspection of the house is needed

Before purchasing a home, you can pay a visit to the property to inspect it thoroughly. Even with the aid of a good realtor and a virtual tour, a visit to the house and inspection are needed. It’s typically a good idea to get a sense of how your life will be after you’ve moved into your new home. You can also hire a specialist to inspect the property. A good inspector will look over the whole house and give you professional advice about whether you can buy it or not. This will save you from making the wrong decision and having to live in a house that isn’t your dream home.

Also Read: Hidden Expenses When Purchasing A Home

Find the best real estate agent

One of the most important things to do when relocating and purchasing a new home is to find a decent and trustworthy realtor. You should be able to choose a realtor with whom you are comfortable working. Find a realtor with sufficient experience. Someone who is familiar with the housing market and the area in which you will be relocating. You should be able to reach out to the realtor at any time to speak with them.

House Hunting Tips for Moving Out of State

Often ask for recommendations from other homeowners when choosing a realtor. A referral is valuable because it ensures that you are dealing with the right people. If you don’t know someone in the new area who can recommend a realtor, look for an online forum for that area and connect with people there. You may also study the realtor online or via a real estate firm to see if they are reliable and trustworthy.

Take a virtual tour of your house

As a result of the pandemic, consumers are turning to the internet to find a new home. They can conveniently go to a real estate website with a virtual house search and find an up-to-date listing of houses in the area they want. They can even take a virtual tour of the house they want to buy. This is advantageous because you would not have to drive to inspect the property. If you have a busy schedule, a virtual tour can be beneficial.

Your family and work

Your new house should be large enough to fit your whole family. However, keep in mind that you must always work within your budget. If you are single, a one-bedroom apartment is an option. You can get a two-bedroom apartment if you are newly married. You can also get an apartment that can fit both you and your guests if you are a couple who does not want to have children.

When you have a cat, you should think about a pet home, the school your children will attend, and accessibility features for an elderly person if you have one living with you, as well as other family members. If you are not working remotely, remember the distance between your home and your workplace. And if you work from home, you’ll need a home that can serve as both an office and a home.

Find out more about the new location

Knowing your current city or location will go a long way toward assisting you in making the best decision when relocating to your new home. Visiting the new city and getting to know the area. It is important to relocate to a secure area. Check to see if the area is notorious for illegal activity or any other undesirable behaviors. Also, see if you’ll feel at ease in your new surroundings. It’s best to think about how people can communicate in the new place.

Some cities have a reputation for being people-friendly, laid-back, aggressive, and so on. You must be aware of the environment that best suits your way of life. You can also learn about the transit options available in the new city so that you can prepare your budget accordingly when you relocate. Consider other options, such as hotels, grocery stores, and art galleries.

Also Read: Tips on How to Find The Right Neighborhood

Be open-minded

Finally, keep an open mind when making your decision. Flexibility is crucial. Although you may have a general understanding of the type of home and community you want to live in, you may find that there are other choices.

Are you considering relocating to another state? Wowmover will assist you in securely transporting yourself and your belongings to your new location. If you want a free quote for your long-distance move,

Call us today to set up an appointment!

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Things You Should Know About Your House Down Payment

April 7, 2021
Things You Should Know About Your House Down Payment

When someone says they’re saving for a house, what they actually mean is that they’re saving for a mortgage down payment. It’s unusual for anyone to show up with the full value of a property in cash, though it may be more common in today’s frantic real-estate market.

A down payment is a significant sum of money that you will put into the purchase of your new home, in which you will make monthly payments on a mortgage loan to pay off the remainder. Before you buy the property outright, it may take twenty or thirty years, or even longer.

For many people, the down payment is the most significant impediment to homeownership. Monthly mortgage payments may be the same as — or even less than — what someone would pay in house rent in the same neighborhood. However, in order to get to that point, a potential homebuyer must first have the required down payment, which may be as much as $30,000 or more in the bank.

Don’t give up! Here’s what you need to hear before making a down payment.

A lower down payment means paying private mortgage insurance

If you can’t afford a 20% down payment, your lender would almost certainly require you to pay Private Mortgage Insurance (PMI). This is because your bank or lender views a loan with less than a 20% down payment as a riskier loan that requires protection in the event you default on your payments.

Things You Should Know About Your House Down Payment - mortgage

PMIs range between 0.5 percent and 1% of the mortgage amount (annually) and these fees are included in the monthly mortgage payments. When you have 80 percent equity in your house, you can stop paying PMI.

A down payment of less than 20% is possible when purchasing a house

There are definite benefits to putting down a 20% down payment, but it is by no means needed. The average down payment on a home has been between 5% and 7% in the last five years.

Keep in mind, though, that the type of loan you choose will affect how much you put down (and the length of the loan). A traditional loan, for example, requires a minimum of 3% down payment and is either 15 or 30 years long. A 3.5 percent down payment is needed for an FHA (Federal Housing Administration) loan.

A lower down payment allows you to purchase a house faster and save money for other expenses such as renovations and home improvements.

However, a lower down payment increases the monthly mortgage payments, and you’ll almost certainly need to include private mortgage insurance.

The more money you put down on a house, the lower your interest rate will be

It’s simple: if you borrow less, you’ll have less debt to repay and can pay less in net interest. When the loan-to-value (LTV) ratio is lower, mortgage lenders and banks normally give better interest rates. Before approving you for a home loan, banks use your loan-to-value ratio (expressed as a percentage) to determine how risky you are.

A higher down payment also raises your home equity, which is the value of your home that you haven’t lent against and will use to refinance at a lower interest rate.

Also Read: What Is the Legal Description of Property?

Don’t use up any of your money to pay for your down payment

Sure, you’ve been diligently saving for your down payment, but keep in mind that a bank will not grant you a mortgage until you have a certain amount of money in your bank account.

Banks and lenders would want you to be able to make your monthly payments for at least the first two to three months, often known as a cash reserve requirement. You’ll need to show that you have liquid assets in your checking or savings accounts, your bank can also accept money kept in the form of stocks, shares, 401(k)s, and other financial instruments. If your monthly mortgage payment is $2000, your lender would expect you to have at least $4000 on hand.

Bear in mind that you’ll have to make more than just your monthly mortgage payments. There are also closing expenses, such as title insurance, renters insurance, and a home inspection. Your closing costs will vary between 2% and 5% of your purchase price. So, if you purchase a house for $500,000, the closing costs could be between $10,000 and $20,000.

FYI: If you’ve been saving for a down payment but are having trouble making it happen, a down payment assistance program such as an FHA or VA loan might be able to help. These services provide support from government agencies, nonprofits, and labor unions that can be used as loans before you move in, or even as grants that you don’t have to pay back. Homeownership may seem to be out of reach financially, but it may be closer than you think.

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Why Summer Is the Best Season for Moving

March 25, 2021
Why Summer Is the Best Season for Moving

Summer is a season of relaxation and fun. Families also spend more time outside enjoying the warm weather or going to the beach for a much-needed break. But according to new statistics from U.S. Census Bureau, a high number of families currently prefer moving during summer. As it turns out, the three months between Memorial Day and Labor Day are a common time to relocate for several reasons.

Although moving in the heat of summer might sound like a terrible alternative to taking a beach holiday, it’s actually a good option for many movers. Here are the top reasons why so many people want to plan their move over the summer.

Real Estate Inventory Peaks

Summer is a big season for most real estate agents since both inventory and sales peak dramatically. The inventory of houses accessible in July is about 25 percent higher than in December. This dynamic is particularly true in cities with warmer climates, like Orlando or San Diego.

With more inventory available, people who move over the summer will have more options to choose from if they’re looking to buy a house. Because summer is a common time to move, anyone looking to sell their home will also be able to find buyers more easily in the summer than at other times of the year. The busier real estate market is a huge advantage of moving in the summertime if you are trying to purchase or sell a house.

Also Read: Questions to Ask Before Buying a Starter Home

School and Work Schedules Make Moving Easier

Most students enjoy a long summer break from classes. This means families of school-age children will expect to travel over their break to avoid affecting their school year. Parents who plan a summer transfer eliminate the fear of their kids missing school due to the moving process. As a bonus, kids on summer break can use their spare time to help their parents prepare and get stuff ready for the move.

Why Summer Is the Best Season for Moving

Also Read: How To Prepare For A Residential Moving

A summertime change also makes sense for working individuals, too. Many employers are more accommodating with time-off demands over the summer. Some businesses also have shortened working hours during the summer months. These workplace practices can be a big help to workers who are planning a transfer.

Best Weather for Transportation

Traveling during the summer means warmer temperatures, which can result in a hot and sweaty packing phase. However, the sunny summer weather reduces many of the dangerous road conditions that can arise during fall and winter. In certain places, the cold weather months will bring high winds, heavy rain, snowstorms, and icy highways, all of which can slow the moving process and trigger transit problems.

Daylight Savings Time (in most states) means longer days during the summer. Anyone who’s going through the moving process would surely enjoy getting a few extra hours of daylight to get things done!

The good weather, open schedules, and busy real estate season make summer the ideal time to travel and move. If you’re contemplating a summer move, it’s best to reserve your preferred moving dates as soon as possible—this is a busy time of year for moving companies!

Schedule your free in-home estimate today to get started

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Hidden Expenses When Purchasing A Home

March 19, 2021
Hidden Expenses When Purchasing A Home

The process of looking for and buying a new home can be both exciting and nerve-racking. If this is your first time purchasing a home, those emotions may be amplified. You’ll want to make sure you have everything you need so that you can deal with any situation that may arise. This is why you should be aware that the list price of the home you’ve chosen is not the total amount you’ll pay. There are a few hidden costs to be aware of before signing the paperwork. Knowing those costs ahead of time will make it easier to be excited on closing day.

Here are a few things to keep in mind:

Repairs and maintenance

One of the most significant advantages of living in a rental property is that if something breaks or malfunctions, you simply contact your landlord. They will also handle landscaping tasks such as snow removal and lawn cleanup. When purchasing a new home, it is always a good idea to have a home inspection performed. You’ll have a better idea of what you’re getting yourself into this way. You may also want to set aside money for maintenance and repairs, which are unavoidable when you own your own home.

Increased Utility Bills

Every house is unique. The cost of utilities varies depending on the size of the home, its location, and the types of utilities it requires. The average home spends about $111 per month on electricity. When compared to a two-bedroom apartment that costs $30 to $50 per month, this can quickly add up. It goes without saying that the larger your living space, the higher your energy bills will be. When you’re in the process of buying a new home, it’s easy to overlook this detail. But don’t let that stop you from being excited. Simply take this into account when calculating your overall budget.

Closing Fees

Most of us have heard of closing costs, but what exactly are they? These fees can include a variety of items and vary from home to home. Closing costs, for the most part, refer to lender fees, a down payment on home insurance, miscellaneous taxes, and title insurance. These are the most common causes of closing costs, but they may vary depending on your specific situation. In general, closing costs will range between 2% and 5% of the home’s value.

Hidden Expenses When Purchasing A Home

Mortgage Loan Interest

Mortgage companies will not lend you money unless they take their own safety precautions. They will charge you interest in order to reduce their risk in trusting you to pay your mortgage accurately and on time. This is an additional expense that will be added to your monthly payments. Mortgage interest rates vary depending on your credit, but on a 30-year fixed rate mortgage, you can expect to pay anywhere from 3% to 8%.

Also Read: Rental: Tips for First-Time Landlords

Property Taxation

Though it varies by state, the average American will pay more than $2,000 in property taxes per year. However, in some states, such as New York, you will pay even more, which is close to $7,000 per year on average. This is definitely something you’ll want to think about when looking to buy your new home, and it’s often overlooked when you’re a first-time homebuyer.

Property taxes are typically included in your monthly mortgage payment, making them easier to manage. However, in addition to other lumped-in fees, property taxes will increase your monthly payment and may increase year over year. This is important to keep in mind when deciding how much money to spend on the list price.

Buying a new home necessitates time and research. You’ll want to make certain that you’re making the right decision when purchasing the home of your dreams. WowMover will be there to help with your moving stress when you finally put in that home offer, even if the decision is yours and yours alone.

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