Month: March 2020

5 First-Time Homebuyer Mistakes To Avoid

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Buying a home can be daunting, and even more, if it’s your first time. However, a little knowledge and preparation would ensure you avoid these mistakes first-timers make. Instead of making the same mistake, your siblings, parents, or friends made when they bought their first house. A little homework would save you the hurdles. Here are five mistakes first time home buyers often make and how to avoid them.

  1. Spending More Than Your Capability

One of the mistakes first-time homebuyers often make is hunting for a house, without determining how much they can afford. Along the process, they fell in love with a home that is above their means but found it hard letting go. To avoid this trap, use the Bank of America affordability calculator to know if a house is a perfect fit for your finance. You need to know your financial strength and how much you can afford before the hunting process begin.

  • Neglecting The Extra Cost Of Homeownership

Buying a home is not where the battle ends, but most first-time homebuyers are ignorant of this. Once the key to the house is yours, you will discover that more expenses are waiting at the corner. You will need to take care of property taxes, homeowners’ insurance and also, regular maintenance. In some places, there could be additional fees like a homeowner’s association or something similar. Before finally closing the deal, calculate the extra expenses, and ensure you’re financially buoyant to handle it.

  • Making A Small Down Payment

One of the regrets most homeowners have is making a down payment that is too small. You see them making comments such as, “I should have waited until I have a more significant down payment.” The benefits of making a large down payment are enormous, which is why you mustn’t make this first-time homebuyer’s mistake. A substantial down payment entails smaller mortgage, thereby giving you more affordability monthly house payments. The aim is to make sure your monthly payment is comfortable to pay.

  • Miscalculating Repairs And Renovation Cost

Another mistake first-time homebuyers make is in terms of miscalculation, especially regarding home renovation. They get an estimate from one contractor and boom; they build their whole life around it. When they finally get the house and ready to renovate, they discover that the cost is almost double the estimate. To avoid this kind of situation, you must get ratings from more than one contractor. You can also seek recommendations from friends and family.

  • Skipping Home Inspection

A home inspection is yet another expense, which is why most first-time homebuyers might feel safe forgoing. Perhaps they have walked around the home, and everything seems to be in perfect order. Well, skipping the home inspection is a dangerous mistake and one you shouldn’t make. You might feel like you’re saving by forgoing inspection; in most cases, you aren’t. Through professional home inspection, you can discover more about the house, especially the faults and repairs. This information would no doubt be an edge during negotiation.

For more information or any questions regarding first-time home buying mistakes, contact Chang Legal today.

Dealing with Issues that borders on Ownership of Commercial Properties

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Despite trying your best to avoid it, disputes are sometimes inevitable when it comes to commercial property ownership. In most cases, this disagreement can be difficult to deal with, especially when it has to do with boundaries between two properties. What matters most when this kind of issue arises is that it should be effectively dealt with to prevent future reoccurrence. 

Types of Commercial Property Dispute 

Dispute, at times, are unavoidable when selling, buying, or developing a property. Issues might spring up at any stage. You need to have the idea of the various types of disputes within a commercial structure. This information will enable you to protect yourself against such issues.  Some of the notable Commercial property disputes include the following: 

  • Boundary Dispute 

In some cases, a dispute may arise over land boundaries. There might be contention over land or property “spilling” into another person’s land. In this case, the individuals involved can work out a settlement. This issue can last for several months or years if both parties are not willing to find common ground.  

  • Landlord/Tenant Dispute 

Landlord/Tenant dispute revolves around premise conditions, contract, agreement, rent, among others. This type of dispute is likely to occur when there is no personal contact between the tenant and the landlord. For instance, a landlord may have many tenants and so not get to know them personally.  Such landlords can fix this issue by employ a realtor to handle tenants. This way, chances of disputes arising will be low as the agency will deal with all problems and queries coming from tenants.  

  • Purchasing Land 

Disputes over land acquisition that come up when you intend to buy land. This kind of issue can result from border disputes, compulsory purchases, as well as breach of contract.  

  • Construction Disputes 

Construction might be stopped halfway or before it takes off by a neighbor that has a problem with the proposed planning of the structure.  Also, there could be a complaint about environmental or noise pollution, disturbances, among others. 

Dealing with Commercial Property Ownership

The approach to solving this issue solely hinges on the type of dispute.  The fact is that commercial dispute resolution can be quite simple and straightforward.  You can engage the service of resolution lawyers who are highly skilled in resolving such disputes. Before you employ the services of a qualified lawyer, it is advisable to resolve the issue first via an ADR method (Alternative Dispute Resolution).  Here are some ADR methods that you need to know: 

  • Contacting the Council 

You will have to provide a detailed plan of your property if you are trying to resolve a boundary dispute.  This will serve as evidence of the boundaries around your property. This is also essential when developing a property, or you might send the plan to the council providing a comprehensive explanation of what you intend to do before commencing work fully. 

  • Mediation

This involves individuals that are related directly to the property.  All parties involved will be required to come together to iron out the issue. 

Court Proceedings 

In this case, the judge will give the final decision concerning the commercial property dispute. Court proceedings may not always fall in your favor. It is, therefore, essential to resolve disputes personally, using any of the ADR methods. For further advice on how to get disputes around your commercial property resolved, contact Chang Legal today. 

Problems that Prospective Commercial Tenant Could Face

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Renting a commercial property is a huge step, so it comes with several ups and downs.  It involves a big financial commitment, and you also have different clauses and regulations to contend with. You must understand the problems associated with renting a commercial property, so you know how to avoid the pitfall. Here are some of the issues that could affect a commercial tenant.  

  • Length of Lease 

Typically, a lease takes up to five years. You should make sure that the space can be assigned to other businesses within this period. It is worth noting that some tenants are not always willing to bear the expenses of building dilapidation liability, especially for short leases. This indicates that the primary tenant could still be liable.  The parts of the structure in poor condition are known as dilapidation. 

  • Room for growth 

You should check if the landlord is also willing to rent out the floor when renting a space for your business. It is essential to give room for the expansion of your business.  Before renting a property, you should take ensure that there are up-to-date infrastructures that will meet your needs.   For instance, does it has the space you need in case of expansion? Are the internet facilities adequate, or would you need to have new ones installed?

  • Break Clause 

To get out of a lease, you might consider a break clause if the situation warrants that. It entails the payment of more rent at the beginning. A rolling break clause will be of great advantage if anything happens to your business because it allows the tenant to leave the property at any period.  However, a tenant must give three months’ notice before exiting the property. 

  • User Clause 

The user clause specifies what a tenant is allowed to do on the property or within the premises. For instance, a restaurant that sells food to customers now makes online sales, causing people to collect food from the shop. This could break the user clause agreement unless allowances had already been made for future alterations.

  • Forfeiture

Forfeiture enables the landlord to end the lease if that the tenant goes against any of their agreements.  When a tenant defaults on the terms of a lease agreement, the landlord can terminate the lease by forfeiture. It is usually employed by landlords to end a commercial lease.  However, it should be noted that forfeiture is not always the best option for the landlord as well as the tenant. A tenant might go ahead to claim a financial loss if the lease was terminated wrongly.  Note that tenants can successfully bring a claim for illegal forfeiture of lease. 

If you need clarification on some of the problems that a prospective commercial tenant might encounter, or you have any questions relating to your commercial lease, contact Chang Legal today. 

Why is Trespassing a Serious Offence

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Many people do not regard trespassing as a serious offense.  It is not seen as a high-profile case. But, the law considers trespassing a serious offense, so it does not treat such offense lightly.  Anyone guilty of trespassing has committed a criminal act, which is punishable under the law.  In this article, we will be considering the reasons why trespassing is a criminal offense.

The Issues with Trespassing Charges 

In most cases, people trespass without having the intention to do so.  For instance, the law does not mandate anyone to put up a “No Trespassing” notice on their private property.  When you know that a property is private, it is logical to stay clear of it.  However, the problem surfaces whenever an individual is found on a property with unknown status, whether it is private or not.  This case is known as accidental trespassing.  However, accidental trespassing does not exonerate someone from being tried in court. 

Classification of Trespassing 

According to the law, there are three types of trespassing. We have the first-degree trespassing, second-degree trespassing, and third-degree trespassing.  The first degree is the most serious class of trespassing, while the lightest is the first-degree trespassing.  

  • Third Degree Trespassing 

This type of trespassing is also called the class three misdemeanors. Third-degree trespassing has to do with entering and staying at a private property after the law enforcement agent or property owner had made a reasonable request.  Also, forcefully entering a private property that bears “No Trespassing” falls under this category.  The law also opined that entering or remaining on switching or storage yard, right-of-the-way tracks, or rolling stock of a railroad company falls under the third-degree trespassing. 

  • Second Degree Trespassing 

You are guilty of second-degree trespassing if you are caught entering a fenced or non-residential property. This case will be treated as a class two misdemeanor. One of the major reasons for fencing a property is to avoid keep intruders off. Therefore, entering a fenced property without permission is an offense.  Be aware that second-degree trespassing is a punishable offense.  

  • First Degree Trespassing  

Anyone that trespasses on private residential property is guilty of first-degree trespassing. In this case, trespassing charges will be treated as felonies or misdemeanors.  

Here are the acts that need to occur before trespassing can be considered a misdemeanor: 

  • An individual enters or remains in a residential yard that is fenced 
  • A person violates the owner’s right to privacy by entering and look around the residential property 
  • An individual enters or remains on a property without claim, and work is intended to start on property.

Class one demeanor is punishable under the law with a fine of $2500 and up to six-month imprisonment.  

Class six felonies are the most severe trespassing cases; it involves: 

  • An individual enters or stays on a residential property illegally 
  • An individual enters or remains on a public services facility illegally
  • A person enters a private property illegally and destroys, burns, or defaces religious symbols without the permission of the owners. 

 For more information, reach out to us at Chang Legal Today.