What Must be Disclosed in a Real Estate Transaction?

On the surface, disclosure might seem very basic. A potential buyer is entitled to know when the house was originally built, what materials the roof is made out of and how many square feet the house and property are. Though these are all important facts to know regarding your purchase of a home, there is much more information that must be disclosed.

A buyer is entitled to seller disclosures, including material facts, deaths on the property and recent repairs. In addition, there are Property Disclosure Statements required by law in most states. This is a statement the seller must complete. In California, the Property Disclosure Statement is required by Civil Code and is called a Transfer Disclosure Statement.

A home buyer is also entitled to paperwork called he HUD-1. This is a settlement statement showing line item charges. The HUD-1 was created in an effort to simplify the disclosure of closing costs and it does so line by line so that the parties to the transaction are aware of all charges.

There should be a disclosure regarding any homeowner’ association before your client makes the purchase. Aside from the disclosure, help your client ask the right questions, such as what the association’s policies are and how stable they are financially.

There is also a Preliminary Title Report or Title Commitment, which should contain any information regarding easements. In the event that anyone plans to put a pool in the back yard, it is important that you find out about any easements or rights of way, as an easement can stop the plans to build the pool, a fence, and various other additions.

In addition, it is important that any covenants, conditions and restrictions (CC&Rs) be disclosed. CC&Rs are a matter of public record and affect the way the property can be used. It is important that these be researched and that you are aware of the ramifications regarding the house/property you are planning to purchase.

Another group of disclosures involve protecting you from various substances and hazards. There is a lead-based paint disclosure, which gives the buyer 10 days to inspect for lead-based paint unless both parties agree to waive this right. Lead-based paint was banned in 1978; however, even though a property was built after 1978 does not mean that it is lead-free.

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Two other disclosures that are important are the radon gas test and toxic mold test. Radon gas has been linked to deaths from cancer and can contaminate the property’s water sources. There are websites that describe radon testing in depth and explain how and why the test should be conducted. Toxic mold is another very important matter. Toxic mold is insidious – it is often not seen and there is not always an odor to it. Testing is usually simple and reasonably inexpensive. It is extremely important that these tests be performed and disclosed, since some issues with mold can be excluded from your homeowner’s insurance policy, and even worse, pre-existing mold can keep you from getting homeowner’s insurance in many cases.

Three more items that should be disclosed are termite inspections, powder post beetle inspections and fumigation tent facts. Termite inspections are a normal part of the process of buying a home. Power post beetles are not as well known. These are a specific type of beetle that eats wood. It is important to get the information about termite and post beetle inspections and how to inspect for damage before the deal is finalized.

The last item is extremely important. Natural Hazard reports disclose various conditions that could affect the property, such as whether the property is subject to shifting sands, fires, flooding or lies on a fault line. It is important to be aware of all this information before you finalize the purchase.

Whether you are closing a conventional sale or a short sale, make sure you have the reports and information you need to make a good decision that will put money in your pocket rather than cost you expenses that can turn a good moneymaking deal into an unnecessary loss.

P.S. If you haven’t signed up for my Free Short Sale Course yet, then you are really missing out, go here: http://www.freeshortsalecourse.com/

Jeff Kaller, visionary, educator and real estate developer has the pioneered the most preeminent pre-foreclosure system in United States. Specializing in a well kept industry niche, Jeff teaches the real estate secrets of purchasing pre-foreclosure properties while executing real estate theory to actual practice. A record of $7 million dollars in properties and a dedicated following of over 9,000 students in less than four years stands testament to his winning strategies.

Author: Jeff Kaller
Article Source: EzineArticles.com
Provided by: Guest blogger

Important Facts About Lung Cancer

According to the American Cancer Society, lung cancer is still one of the most prevalent forms of cancer today. Even after all of the thousands of anti-smoking campaigns and a huge decrease in the number of smokers, it is expected that there will be more than 215,000 new cases diagnosed this year, and there will be nearly 162,000 deaths.

In 1991 (the latest year that I could find statistics for), 27% of Americans were smokers. That compares to 29% in 1987 and 44% in 1964. The decrease is because of more people quitting the smoking habit, and NOT because of fewer people starting the smoking habit. It’s obvious that all of the efforts to prevent people from becoming smokers have not been successful.

Cigarette smoking is considered the number one cause of the disease. There are substances in smoke that cause damage to lung cells. Because of this, smoking cigarettes, pipes, or cigars does cause the disease, and this is why it is also true that secondhand smoke can cause lung cancer in nonsmokers. The more often a person is exposed to tobacco smoke, the greater the risk of lung cancer.

However, cigarette smoking is not the only cause. Researchers have also determined that exposure to radon is a big risk factor for developing the disease. Radon is found in mines as well as in various parts of the country in the rock and soil. Radon is a radioactive gas that is colorless, odorless, and tasteless.

Exposure to asbestos is another cause of this disease. People who work at such jobs in the construction and chemical industries are most at risk for exposure to asbestos that can cause lung cancer.

A family history of lung cancer, even in people who have never smoked, also creates a higher risk for developing the disease.

Are you concerned about your health? Visit our diseases and treatments portal and learn how to cure almost every disease.

Author: Milos Pesic
Article Source: EzineArticles.com
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Basement Bar – Prepare Your Space First Pt 2 – Air Quality

Air quality changes as soon as you waterproof your basement. You might ask yourself: “how in the world does that change your air quality?”

Air travels through the pores in your concrete by natural earth air flow; through lose soil. It comes into your basement pulling radon, mold spores, and evaporated exterior water molecules. By installing a vapor barrier along your foundation wall that ties into the interior drain system, you redirect the moisture and other nasty business into the drain below the floor and it’s then dealt with by the sump pump. Radon might need further remediation, but that can be done with a closed interior drain system like the GrateDrain. Radon remediation kits can be ducted into the GrateDrain, thus increasing the reach of the remediation method and still taking care of the moisture control.

Now that you have your vapor barrier in place you’re now dealing with the air quality in your house. You’re no longer constantly pulling air through your foundation bringing with it excess moisture. Your AC will now run smoother and more effectively, even low efficiency dehumidifiers will work better because there’s a correctable amount of moisture that is now in the air.

Now you’ve taken care of any moisture issues, you’re able to heat and cool the area better, dehumidify the area quicker and more effectively, and you’ll be protecting the investment in your new shinny bar in your basement.

Just another note: if and when you do decide to finish your basement or do any major project in the basement it’s important to first deal with a basement finishing company. The products they use are produced and designed to be used below grade in areas that can be susceptible to higher humidity levels.

Jacob Lee- Pioneer Home Basement Finishing
http://www.homebasementfinishing.com

Author: Jacob Ewing Lee
Article Source: EzineArticles.com
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Indoor Air Can Be Worse For You to Breathe Than Outdoor Air

Hot summer air can feel awful to breathe. Between the humidity, car fumes, and truck fumes, breathing outside feels insufferable. Have you ever considered that it may actually be worse to breathe indoor air than outdoor air? This may be a change in mentality for many people, but there could potentially be more harmful air contaminants in your home or at your office than outside. How can this be? What kinds of harmful contaminants could you be breathing right now?

Air Contaminants

There may be various contaminants in our homes and offices keeping us from breathing clean air. Molds and allergens are the most common. When moisture builds up from leaks or condensation, mold has just the right conditions for growth. Dehumidifying the air can help prevent a mold problem. While mold will not affect everyone the same way, it will cause serious problems for people who already have respiratory diseases like asthma. Most people have carbon monoxide detectors in their homes because of how dangerous it is. Carbon monoxide is a byproduct of the incomplete combustion of fossil fuels. What does this mean? When your HVAC system or space heater isn’t functioning properly, it can release harmful carbon monoxide particles into the air, particles that can prevent you from getting the oxygen you need to survive.

Radon exposure can cause serious diseases, such as lung cancer. Building materials can be a source for radon, so if you work in construction or are involved in a project, consider having tests done to check on the amount of radon in the air. What can you do to protect yourself and your family from these types of air toxins? Change the air conditioning filters.

Air Conditioning Filters

Filters in the air conditioning system capture dirt, dust, mold, pollen, and pet dander from the air in your home. When these filters fill with materials, they aren’t able to continue to effectively filter the air any longer. The last thing you want is that type of bacteria building up in your home, so changing your air filters on a regular basis is important. It may also help to upgrade your air filters to a more expensive brand. They may be able to clean the air in your home more effectively than the cheaper brands. Filters that cost around $5 each look like a pleated cloth. These filers can even keep smoke from settling in your home. The pleated pattern catches the harmful materials yet still allows the air to flow through the HVAC system to keep it functioning correctly.

How often should you change your filters? Once a month is best. Even if the instructions on the package say 90 days, the amount of dirt in your home may be more than what the filter accounts for, especially if you have kids or pets. If you are serious about improving the air quality in your home, when an HVAC technician comes to perform maintenance on your unit, ask about high-efficiency filters. These filters are more expensive, but are well worth the cost because of their performance quality. They only need to be changed once a year and can substantially improve the air in your home. They are designed for specific systems, so make sure you let your HVAC technician choose the right one for your home and install it for you.

Electronic Air Cleaners

You can purchase an additional air purifier for your home if you want. These are probably not necessary for most homes, but if you are someone or live with someone who has a respiratory condition, an air cleaner may help. You can get one that attaches to your HVAC unit or you can get one that sits in a particular room. Not all of these models work the same way, so make sure you are purchasing for quality over price. These systems can make sure that there are absolutely no contaminants in the air in addition to your air conditioning filters, almost like a back up system.

Green Technology

If you want to go a step beyond the type of air conditioning filters and really try to help the environment, consider an HVAC system designed to be green. You can choose a unit that conserves energy as it runs. Some systems are designed to function only when they detect harmful gases in the air. Rather than running all day when there are no contaminants in the air, a sensor can detect the amount of carbon monoxide in the air and remove it before it becomes harmful to you. This way, you are keeping your home safe while simultaneously protecting the environment.

What is the simplest way to make sure the air is clean? Open the windows every once and a while and get some fresh air inside. Even if you work in a city with a lot of outdoor pollution, outdoor air can still be better for you to breathe than indoor air.

The Refrigeration School, Inc teaches students the dangers of indoor air and the precautions for keeping it clean. Students learn the latest green designs used in heating, air conditioning, and refrigeration technologies. Future HVAC technicians choose RSI for training because they like to learn by using their hands rather simply reading a book. Students don’t have to become just an HVAC technician, but RSI prepares them for any of the HVAC related careers they want to have.

Author: Kristin Kronstain
Article Source: EzineArticles.com
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