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Property Management Blog

Blog Post Importance of Inspection

Importance of Inspection

By R&B Legacy PM Friday, January 21, 2022
As a buyer, you are entitled to know exactly what you are getting. Don’t take anything for granted, not even what you see or what the seller or listing agent tell you. A professional home inspection is something you MUST do, whether you are buying an existing home or a new ...
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Blog Post Your Savings and Down Payment

Your Savings and Down Payment

By R&B Legacy PM Friday, January 14, 2022
Your First Step Toward Buying a HomeWhen preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next thing you should do - befo...
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Blog Post Why Do You Need Title Insurance?

Why Do You Need Title Insurance?

By R&B Legacy PM Friday, January 14, 2022
Title Insurance.It’s a term we hear and see frequently - we see reference to it in the Sunday real estate section, in advertisements and in conversations with real estate brokers. If you’ve purchased a home before, you’re probably familiar with the benefits and ...
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Blog Post What's a FICO?

What's a FICO?

By R&B Legacy PM Friday, January 14, 2022
What is a FICO® Score?FICO® stands for Fair Isaac & Company and is the name for the most well known credit scoring system, used by Experian. The credit bureau’s computer evaluates a complete credit profile and assigns a score, which is used to estimate credit wo...
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Blog Post What is a Short Sale Anyway?

What is a Short Sale Anyway?

By R&B Legacy PM Friday, January 14, 2022
An increase in foreclosure rates will inevitably bring with it an increase in short sales. But what is a short sale?A short sale happens when you sell your house for less than your remaining mortgage balance, the proceeds of which go to the lender and in return the lender forgive...
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Blog Post Understanding Foreclosures

Understanding Foreclosures

By R&B Legacy PM Friday, January 14, 2022
It is an unfortunate commentary, but when economic activity declines and housing activity decreases, more real property enters the foreclosure process. High interest rates and creative financing arrangements are also contributing factors.When prices are rapidly accelerating duri...
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Blog Post Thinking About Buying a Foreclosure?

Thinking About Buying a Foreclosure?

By R&B Legacy PM Friday, January 14, 2022
With the housing bubble burst and the subprime mortgage crisis, millions of homeowners found themselves unable to make their mortgage payments. Many found themselves owing more on the house than the home was worth. Many just walked away from their homes. As a result of these comp...
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Blog Post The Functions of an Escrow

The Functions of an Escrow

By R&B Legacy PM Friday, January 14, 2022
Buying or selling a home (or other piece of real property) usually involves the transfer of large sums of money. It is imperative that the transfer of these funds and related documents from one party to another be handled in a neutral, secure and knowledgeable manner. For the pro...
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Blog Post Required Reporting to the I.R.S.

Required Reporting to the I.R.S.

By R&B Legacy PM Friday, January 14, 2022
Sellers of real property will have certain information regarding the sale reported to the Internal Revenue Service.This required reporting is a consequence of the Tax Reform Act of 1986; it is intended to encourage taxpayer compliance and aid in audit and enforcement efforts by t...
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Blog Post Mechanic's Liens

Mechanic's Liens

By R&B Legacy PM Friday, January 14, 2022
The Mechanics’ Lien law provides special protection to contractors, subcontractors, laborers and suppliers who furnish labor or materials to repair, remodel or build your home.If any of these people are not paid for the services or materials they have provided, your home ma...
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