Legal Secrets For Homeowners!

Being a homeowner is exciting. It can be financially rewarding, too. Unfortunately, it can also put you in a tough legal position.

Between the complexities of owning a house, having to deal with lenders and the risk that comes from owning something valuable, keeping yourself legally protected is a good idea.

14565969_S

Here Are Some Risks And Some Ways To Handle Them

  1. HOAs. If you own a condo, town home or other property in an association, the homeowner association is extremely powerful. Not paying their dues, violating their rules, or doing just about anything else to end up on the wrong side of them could leave you subject to fines or even foreclosure.
  2. Neighbors. Whether or not good fences make for good neighbors, bad neighbors make for legal problems. Before dealing with your neighbors, research your community’s laws to see what options you have to deal with their unlicensed backyard dog breeding facility, teenager that steals your oranges or their tree that keeps breaking your window. It’s good to know what your responsibilities are as a neighbor, as well.
  3. Legal Paperwork. Part of having a house is having paperwork. Keeping it in a safe place where you can get to it when you need it is always a good idea.
  4. Being A Landlord. If you’re thinking about moving out and turning your house into a rental, take the time to see if you can really do it. Your mortgage, your homeowner association bylaws and your community’s laws can all either prevent you from renting out your house or can impose conditions or extra costs.
  5. Financial Scams. When you own a house, you’re at risk of being the victim of mortgage scams. If you also have strong credit, you could also be a target for identity thieves that want to steal your good name to steal money.
  6. Insurance. Your insurance does more than pay if something happens to your property. It can also give you liability protection that pays off if you harm someone at or away from your home. Given that you could lose your house in a suit, this protection is particularly valuable.

Being a homeowner requires more than just mowing the lawn and painting on occasion. You will also want to pay careful attention to your legal exposure and manage it.

A little bit of care could save you a lot of money and trouble down the line.

Written by Dennis Frank – Kent Real Estate Agent – Call Now @ 253-561-1763

Published by

Dennis Frank

At age 25, I became interested in real estate and began investing in housing! I quickly realized the many advantages of home ownership and bought my first house in Kent, WA. Since then, I developed a love and passion for real estate as a investor, landlord, and real estate agent! Now with over 15 years experience, I am committed to providing excellent customer service, with a strong work ethic, while conducting myself in an honest and professional manner. I am continually updating and increasing my real estate knowledge and skills through ongoing training and education. I have built long standing relationships with many of my customers and I will work hard to exceed your expectations! My goal is provide the best customer service in the business! I would love to represent you and look forward to working with you on your next real estate transaction!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s