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The intricacies of land contracts can often be a tough task for both buyers and sellers. One of the common questions that people considering purchasing or selling a land contract often ask is: “Who pays property taxes on a land contract?“. Read on to find out everything you need to know about property taxes in…

When buying a home, there are a lot of extras you’ll need to consider besides your mortgage. One example is title insurance, which financial institutions require you to purchase before providing a home loan. You’ll also have the option to buy title insurance for yourself. What Is Home Title Insurance? Home title insurance is a…

When most people think of a promissory note, they think of a loan agreement between two individuals. But did you know that you can also use a promissory note to secure a home equity line of credit (HELOC)? A promissory note for a HELOC is a credit agreement between the homeowner and the lender. The…

Promissory notes and loan agreements are documents that outline the details of a loan. They both outline the terms of the loan, including repayment terms, and act as legal documentation with remedies should a loan go unpaid. Although promissory notes and loan agreements are similar, there are key differences between the two. For example, promissory…

Selling a property can be a long and arduous process, especially if you’re looking to get the best return on your investment. Many real estate investors are unaware of the 721 exchange, which can help them get a lump sum for their property while deferring taxes. By leveraging the 721 exchange, real estate investors can…

Selling your home at a profit is a financially rewarding experience. However, knowing what to do with home sale proceeds can be difficult. There are several options to consider: you can invest the money from the sale of your home, use the money to pay down debt, or purchase another property. In this article, we’ll…

According to the most recent census data, there are approximately 1,363 land trusts in the United States. Put simply, a land trust is a tool used in estate planning to help real estate assets avoid probate. If you’re wondering what a land trust is and how it works, keep reading. Armed with this knowledge, you’ll…

Unfortunately, real estate is not always guaranteed to be a good investment. Sometimes you can find yourself owing more on your home loan than the property is worth. When that happens, you may think about simply walking away from your mortgage. If you’re thinking of going this route, keep reading. We’ve compiled all the info…

Assumable Mortgage 101: How Can Someone Take over Your Mortgage? If you’ve ever asked the question, “Can someone else take over my mortgage?” you’re in luck. There is a way to allow someone else to take over responsibility for a mortgage. In real estate, these loans are known as “assumable loans,” and a home with an…

If you’ve recently had a loved one pass away, you may be wondering what happens to a mortgage when the borrower dies. Unfortunately, there is no one cut-and-dried answer to this question. It depends on who applied for the loan and whether or not the surviving family members want to keep the property. In light…