Real Estate Agents and Buying a Home

Did you know that many real estate agents spend just as much time with home buyers as home sellers? This is something that a lot of consumers are not aware of. The reason for this is that you can purchase a home without the help of an agent. But with the competition and details that need to be taken care of in today’s day and age, getting help from an agent is almost necessary.

The question is: are certain real estate agents better at helping home buyers than others? This is a difficult question to answer, and one that is based on the agents who do business in your area. Generally speaking, if an agent is familiar with the area and has experience, they should be able to help you to find a home. In other words, real estate agents do not do anything out of the norm when it comes to helping home buyers; they all pretty much offer the same services.

When it comes down to it, you will want to find a real estate agent that has experience helping buyers in your part of the country. Even though any agent will be able to lend some sort of help, only those who know where to look will be the most beneficial to your situation. When a real estate agent has knowledge of an area, he or she will be able to pass this along to you, the buyer. Remember, if an agent does not know where to look for homes, they could point you in the wrong direction which could end up being quite harmful in the end.

The nice thing about getting the help of an agent when buying is that they will never charge you for their service. Instead, they will split the commission with the agent that is selling the property. This means that you get all kinds of professional help without having to pay for it. Does it get any better than that? Too bad home sellers cannot get the same deal!

Overall, more and more real estate agents are helping home buyers just as much as home sellers. If you are in the market, find an agent who you are comfortable doing business with.

What is an “Abstract of Title”?

An abstract of title is the condensed history of title to a particular parcel of real estate.

It consists of a summary of the original grant and all of the subsequent conveyances and encumbrances affecting the property as well as  a certification by the abstractor that the history is complete and accurate.

In the United States, the abstract of title furnishes the raw data for the preparation of a policy of title insurance for the parcel of land in question.

An abstract of title should be distinguished from an opinion of title.

While an abstract states that all of the public record documents concerning the property in question are contained therein, an opinion states the professional judgment of the person giving the opinion as to the vesting of the title and other matters concerning the status of the chain of title.

Many jurisdictions define the giving of an opinion of title as the practice of law, thus making it unlawful for a non-attorney to do so.

What is “Adverse Possession”?

Adverse possession is a concept in law which concerns the title of a real property.

In common law, adverse possession is the process by which title to another’s real property is acquired without compensation, by holding or using the property in a manner that conflicts with the true owner’s rights for a specified period.

Circumstances of the adverse possession determine the type of title acquired by the disseisor (the one who obtains the title as a result of the adverse possession action), which may be fee simple title, mineral rights, or other interest in real property.

Adverse possession’s origins are based both in statutory actions and in common law precepts, so the details concerning adverse possession actions vary by jurisdiction.

The required period of uninterrupted possession is governed by the statute of limitations for each state. In Maryland the period of possession is 20 years.