Author: David Chang

Preforming An Effective Background Check On Your Landlord

Posted by David Chang on February 25, 2019 with 0 Comment

While you may think you’ve discovered a rental that is a perfect fit for you, do not be so quick to sign off on the dotted line. First, you should ask yourself how well do you know your prospective landlord? It is essential to know what type of landlord you’re going to have before you make any long-term decisions. Here are the top three tips when it comes to looking into your landlord:

Look At Public Records:

The most efficient way to get to know your landlord is searching public records to look at previous experiences. You can do this by researching your local government agency’s records online or by visiting your county’s courthouse to get information directly. Looking for red flags such as evictions, foreclosure proceedings, and other things renters are avoiding is essential.

Ask The Right Questions:

While it is traditional for the landlord to ask you, the renter, questions when you apply to live in a unit, you should also ask them questions. Learning about the move-in and move-out process and how they respond to repair requests is a crucial factor in making your decision.

When In Doubt, Trust Yourself:

At the end of the day, it is always best to trust your instincts. Whether the price is too low, lease terms are unclear, or you feel rushed into the process, it is the best to keep other options open.

For more information about preforming an effective background check on your landlord or to receive help with your decision, contact Chang Legal today.

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How To Build Home Equity

Posted by David Chang on January 4, 2019 with 0 Comment

In today’s time, it is essential to build wealth through home ownership. This can be done through home equity, which is the percentage of a property you own. Here are the best ways to build home equity while saving money:

Make a larger down payment:

Although it is not the most efficient way to build equity, making a larger down payment can actually benefit your financial issues in the future. Getting in contact with a lender can provide you market insight to further your equity.

Allow your home to appreciate:

With home values increasing over recent years, home appreciation has grown dramatically. For example, if you purchased a home for $185,000 in May 2016 with a 5 percent down payment, your home equity would have increased to 21 percent by May 2018.

Pay biweekly instead of monthly:

A great way to increase home equity is to pay your mortgage every two weeks instead of every month. This will not only build home equity, it will shave at least 5 years off of a 30 year mortgage.

Renovate your home:

To top it all of, renovating your home with new appliances and fixtures is a great way to increase value. New kitchens and renovated bathrooms are likely to help increase home equity.

For more information or any questions about how to increase your home equity, contact Chang Legal today.

Purchasing A Residential Home The Correct Way

Posted by David Chang on December 21, 2018 with 0 Comment

Owning a home is one of the biggest accomplishments through adulthood and is often referred to as the American Dream. It is essential to know what comes with buying a home and how you can be prepared for everything that may come your way. Chang Legal is here to guide you through the buying process of a home and the steps you should take when completing the deal.

Down Payment: Before you are ready to purchase a home, it is important to know if you can afford everything that comes with a house. Some individuals have a difficult time having a down payment since they may have debts in other areas such as college loans. The typical amount required when purchasing a home is 20% of the purchase must be down payment.

Pick A Location: It may seem self-explanatory, but picking a location for your home can be very difficult and stressful. This is why it is important to consult with a real estate agent, who will make the process much smoother. Take time to think about the type of environment you would like to live in, whether it be a urban, suburban, or rural area.

Type Of Property: Are you looking to purchase a 1200 square feet house for your family? Or are you just looking for a property for yourself? It is crucial to ask yourself these questions before purchasing a home. You do not want to buy a home with extra space that is not needed and you certainly do not want a home that is too small.

Explore Your Options: Typically, many future homeowners decide to jump in right away on the first few properties they visit. A better idea is to speak with your real estate agent and to visit as many as properties as you can to ensure you are making the right choice. It never hurts to look at more real estate than less!

Make An Offer: Once you have checked off all of the above steps, it is time to make an offer on the property you choose to reside in. Your real estate agent will provide you with a contract, which states all of the legal terms and conditions and will ensure you meet all of the requirements before purchase. Once this is complete, you will have a successful transaction and will now be a homeowner.

For further information about the process of purchasing a home or to learn more about how we can support you, contact Chang Legal today.

Knowing Your Rights As A Tenant

Posted by David Chang on November 23, 2018 with 0 Comment

Renting is a wonderful option for some who are looking to stay in a space temporarily. One of the strongest benefits as a renter is that you do not have worry about maintenance and repairs. However, issues could arise during this time and it is essential for you to know what your rights are. Here are some common issues tenants run to and what you can do about it:

Appliance Repairs

While it may seem obvious that your landlord is responsible for broken appliances in the property, some landlords still pull schemes to mislead their tenant to pay for the repair. In most states, the landlord is responsible for providing adequate heating and cooling systems.

On the other hand, landlords are not responsible for repairing any broken appliances that the tenant purchases, such as a microwave or toaster.

Pest Control

As a tenant, you want to live in a safe and comfortable environment. This includes a pest-free living space. While it mainly depends on the state you live in and the type of pest infestation, it is important to let your landlord know if there are pests in your unit. Most landlords will want to address this issue immediately to prevent further complications.

Mold

If you realize there is mold in your rental unit, you should contact your landlord as soon as possible. Even though there are not many state regulations on your landlord being responsible to remove the mold, they are still required to grant you a livable space. Ensure your landlord removes the source of the mold to prevent further issues.

The only instance where a landlord is not responsible for removing mold is if the damage is a result of the tenant’s actions.

Landlord not complying?

There are many things you can do if your landlord is not complying with you on any of the common issues above. To learn more about your rights as a tenant, contact Chang Legal today.

Preventing Square Footage Lawsuits

Posted by David Chang on November 9, 2018 with 0 Comment

With new individuals looking for real estate on a daily basis, they are generally most concerned with the square feet of the property they may potentially purchase. However, the square feet presented may be different than the amount represented. Whether if it was intentionally or on accident, this may result in a lawsuit against the seller for misrepresentation.

These lawsuits can have a big effect on the seller of the property for the slight error in the measurement of the real estate. In the real estate world, every square foot matters, and if the appraisal is not accurate, it may result in a lawsuit.

How To Prevent Square Footage Lawsuits

To prevent yourself from becoming involved in a lawsuit concerning the square feet of a real estate, it is crucial to make all of the disclosures aware to the buyer of the property. One of the biggest factors to prevent lawsuits against the square feet misrepresentation is utilizing suitable language in the sale documents and listings of the real estate. This will make it hard for the buyer to trigger a lawsuit if they feel the property has been listed with more square footage than presented.

When selling your real estate property, including the square footage of your property can draw in buyers, but also can trigger complications if the measurements are not accurate. Something as little as a few square feet has the ability to start a lawsuit against you for fraud or misrepresentation. It is important to consult with a highly experienced real estate attorney to guarantee all documents are accurate with the property. In addition, the skillful real estate attorney, such as us at Chang Legal, will notify the buyer of every feature of their purchase to ensure they are fully informed.

For more information and protection against square footage lawsuits, learn more about the support we can offer you by emailing Chang Legal at contactus@changlegal.com or by calling 847-907-497

The Many Differences Between Owning And Renting A Property

Posted by David Chang on September 7, 2018 with 0 Comment

Are you looking to rent a property, but are still pondering the question if owning a property will save you money? There are benefits to both of these, however, which one is the most suitable for you? Our professional team at Chang Legal is here to guide you through determine if owning or renting a property is the best for you.

Owning a Property

There are many things that come with owning a property, most of them can be expensive. If you are a young individual who is going to college, then purchasing a property is most likely not the best decision for you. However, if you are prepared with the funds to own a property, then it may be better than renting out. Here are some of the advantages that come with owning a property:

Lease For Income – Overtime you may want to add an extra source of income, this can be done by renting out your property to others. For instance, if you are on a business trip and won’t be back for a couple of weeks, then renting out your property will give you an extra source of income when you are away.

Your Own Boundaries – With owning a home, you will not have to follow all of the extra regulations the landlord enforces. This means you have the freedom to do what you want with your property such as painting the walls any color of your choice or having a pet.

Sense Of Belonging – If you purchase a home, you are going to be staying there for awhile. As time goes on, you will begin to build a sense of belonging to the community and neighborhood you are residing in.

Renting A Property

On the other hand, renting out a property may be more beneficial for your situation. Generally, if you are not looking to reside anywhere for a long period of time, then renting is a perfect opportunity for you. Here are some of the advantages that come with renting a property:

Do Not Have To Pay Maintenance/Repair Expenses – With renting a property, you will not have to worry about paying maintenance and repair expenses. For instance, if the water softener breaks, you will not have to pay for the repair which can be costly.

Relocating – If you are a student or a worker that is moving around the nation frequently, than renting is a suitable option for you. You can rent properties accordingly to your schedule for school or your next business trip, making life easier and more affordable.

Utilities Included – When you are a tenant of a property, there will be utilities included for you to use apart of the monthly expense of renting. This usually includes kitchen appliances, laundry, and basic toiletries.

Now that we have discussed both sides of the decision, which one is more suitable for you? If you have any more questions or concerns about what path you should take for your future, contact our highly experienced real estate attorney at Chang Legal today.

The Pros and Cons Of Buying Real Estate For Your Business

Posted by David Chang on August 3, 2018 with 0 Comment

Are you a business owner that is wanting to expand your business by purchasing land? We here at Chang Legal are here to provide you the pros and cons of buying real estate for your company.

Positives To Purchasing Land For Your Business

– You will no longer have to pay out-of-pocket for renting or leasing a property.
– You will have to pay a lower amount in order to own the real estate for your business.
– Can be sold at a higher price than purchase, which will give you profit.
– You have the ability to rent out the commercial space to others when you are not utilizing the space, creating even more money for your business.
– No longer have to abide by the landlord’s rules and regulations. You have control with what you want inside your commercial space for your company.

Negatives To Purchasing Land For Your Business

– You will not be able to make major changes depending on the size and location of your business.
– If you want to expand your business, you most likely will have to move locations, which is a long process when you already bought the land.
– You are responsible for the maintenance, janitorial work, security, and resources of the property.

It may be a wrong move if you purchase land for your business when it is not necessary. For instance, if your business is looking to grow and expand farther, it is not a wise idea to purchase a small commercial space in a nearby city. Owning land is not for every business, it is smart to consider the options available before you consider buying land for your company. Consult with a real estate attorney, like us at Chang Legal, to guide you in making this decision.

To learn more about how we can support you in deciding purchasing land for your business or other real estate topics, contact Chang Legal today.

Ways to Increase the Value of your Home

Posted by David Chang on July 20, 2018 with 2 Comments

When selling a home, it is important to make upgrades that will allow your house to sell for a higher price. Even with a budget, there are multiple ways to amp up the potential selling price of your house.

The following home improvements can help your receive the best price without exceeding your renovation budget:

Kitchen renovations– The kitchen, being the typical place for people to gather in a home, is the best way to increase your selling price. Even smaller improvements in the kitchen can make a big difference. Upgrades like newer appliances and counter-tops can appeal to a potential buyer.

Bathroom improvements– Freshening up the look of your home’s washrooms can make a difference in your potential house value. Switching the existing towel bars and other fixtures with more high quality ones can make a bathroom much more appealing. Replacing tiles and touching up the walls will work to add value to your house, while still maintaining a budget.

Lighting upgrades– The lighting of a room can make or break how a potential buyer feels about the space. A room will be more appealing if it has brighter lighting, and there are a variety of cheap fixes you can make to brighten up a space. Simple, inexpensive upgrades, such as installing LED lighting into an area of a room can showcase a cleaner, larger space to potential home buyers.

Fresh paint– A new coat of paint can bring up the same result as brighter lighting, which is a fresh, more appealing space. Neutral shades, like beige, grey, and mauve are the best colors to stick to when painting a home. Even quick fixes like touching up the trims with fresh paint can make the difference to a potential house buyer.

Landscape modifications– Bringing more curb appeal to your home can be a simple, inexpensive fix, and will ultimately help increase your selling price. You should put focus on improving the entry of your home, such as modifying concrete paths, porch plants, stepping stones, and the appearance of your door. Even placing down new mulch can bring more attraction to your home. The small, affordable improvements will make a huge impact on a potential buyer’s first impression.

It is important to know what steps you can take to receive the best price for your home. For more information on the process of home-selling, contact Chang Legal today.

Determining A Good Real Estate Deal

Posted by David Chang on July 13, 2018 with 0 Comment

When you are looking to purchase a property, the number one thing you are looking for is a good property at an appropriate price. Furthermore, the location and condition of the property are usually the key determining factors in a real estate deal. Chang Legal wants you to be safe when you are looking to purchase a property, here are some ways to determine if a real estate deal is worth it:

Zoning Issues: An easy way to tell if a property is not a good real estate deal is checking for zoning issues. If a property has zoning complications, it leads to an automatic “no” for most investors.

Condition Of Property: It is essential to take the condition of the property into account when you are house-hunting. If the condition of the property or the way it is presented does not meet a buyer’s standards, they may be able to get a discount on the property. This can save you money all for just looking at the details of the residence.

Assess Purchase Price Vs. County Appraisal Value: To determine if a property is a good real estate deal, plugging in the address to see if the selling price is lower than the county appraisal assessment. If this is the case, you will more than likely make a profit off of the property which makes it an excellent real estate deal.

Ultimate Pricing Vs. Monthly Rent: If you can purchase a property for $600,000 and lease it out for at least $6,000 a month, then this determines the real estate deal is worth it.

Consult With A Real Estate Attorney: If you have any concerns or further questions about determining if a real estate deal is worth it, consult with our real estate attorneys today.

Important Steps in the Process of Home-selling

Posted by David Chang on July 6, 2018 with 1 Comment

When you are in the process of selling your home, there are a lot of things to consider. For example, it is essential for you to decide which real estate agent is the perfect match for you. You also need to recognize the best price for your home, by considering factors like location and condition.

The home-selling process can be overwhelming, but it is important to follow these important steps that will bring you ease:

List your home with the help of your agent– Having a professional agent by your side while listing your home is the first step in the home-selling process. Your real estate agent will inform you of specific improvements and modifications that they believe should be made to improve the stability of your home. Along with this, your agent will help you create a customized marketing plan, which will include the best price for your home in the current market.

Prepare your home– Preparing your home prior to putting it on the market is the best way to give potential buyers a good first impression. Your real estate agent will assist you in determining what ways you can best prepare your house. Some specifics that you should focus on that pertain to showcasing your home include cleanliness, paint, curb appeal, and odors.

Determining the purchase price– Compromising a purchase price with your buyer is important, so that both sides of the agreement feel that the price is fair. Allow your agent to work on negotiating the best price for you, while also keeping the buyer satisfied.

Be ready for the home inspection– Once the price of your home is agreed upon with your buyer, an inspection of your home comes next. The structure of your house will be evaluated, including the roof, basement, walls, and doors. The home inspection will serve to point out any flaws in your home and address a variety of concerns. Be present during the home inspection, so you can discuss any concerns you may have.

The closing– The final step of the home-buying process is the closing, which will be taken care of mostly by the real estate company. The closing consists of money being paid out to the buyer from the seller. Your agent will help you with the closing documents that are necessary at the closing of your house. The final documentation includes but is not limited to mortgage, deed, and homeowner’s insurance policy. All of the final documentation will be reviewed by all parties involved in the home-selling process.

To receive professional assistance during the home-selling process, contact us at Chang Legal today.