Category: Real Estate

Recognizing Landlord Schemes

Posted by David Chang on June 3, 2019 with 0 Comment

When it comes to renting a residential space, you will have to follow the rules and regulations of the landlord that owns the property. You will more than likely have a reasonable landlord that will require the general terms with renting their real estate space. On the other hand, there are some cases where tenants will have to deal with unreasonable landlords that try to pull schemes for their own personal gain. Here are the most common landlord schemes that you should be aware of when you are renting a property:

Avoiding Costs: Some landlords will try to bypass expenses that they are entitled to pay by requiring the tenant to pay the costs. A few of the costs include property taxes, maintenance costs, security, and utilities. This shows how it important it is for a tenant to study the lease and to report any suspicious requirements the landlord makes to the housing department.

Increase in Rent: The most common scheme landlords pull is increasing the rent illegally. For instance, if you are paying rent on a monthly basis and the landlord raises rent without a 30 day notice, you will then have the ability to report this situation to the housing department.

Trespassing the Property: Once the landlord closes the lease and you, the tenant, are living in the property, they are not permitted to enter the property without consent of the tenant. This means a landlord is prohibited to walk through the front door of the property without probable cause.

It is essential to know if you are being taken advantage of by your landlord through these 3 common schemes. For more information on common landlord schemes to look out for or to learn more about how we can support you through your real estate disputes, contact Chang Legal today.

The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. The transmission of the Website, in part or in whole, and/or any communication with us via Internet e-mail through this site does not constitute or create an attorney-client relationship between us and any recipients.

Selling Your Home In The Best Season

Posted by David Chang on May 27, 2019 with 0 Comment

With the market giving sellers a strong advantage, the best season is here! When you are in the process of selling your home, you may have questions regarding how you can get it done fast and effectively. Chang Legal is here to tell you how you can sell your piece of real estate for the most it is worth in a quick manner.

Undergo remodeling:

To increase the value of your home, it is essential to do some quick remodeling. This includes adding decor, refurbishing appliances, and refinishing floors. The goal of this is to invest money into remodeling so you earn more for the additions at the end of the closing.

Price your home correctly:

Most home sellers decide to price their home high and eventually go down in price as time goes on. However, this is not effective if you are trying to sell your home before the prime season is over. It is important to price your home correctly from the start, this will result in an increase of potential buyers. In addition, the market is for sellers currently, making it the best time to price your home higher.

Eliminate clutter:

When it is time for open house sessions, you want your house to look its best. Every square foot of the home counts so it is essential to get rid of all clutter. You want potential buyers to see how spacious your home is, rather than seeing how cramped it is.

Ensure your listing is known:

In order to speed up the process of selling your home, it is crucial to advertise your open house listings. From appearing on the major outlets for home listings to advertising on social media, the first 30 days your home is on the market is the most important.

For more information or any questions regarding how you can quickly sell your home, contact Chang Legal today.

How You Can Build Up To Receive Home Equity Loans

Posted by David Chang on April 29, 2019 with 0 Comment

Home equity loans are beneficial, since they allow you to use your home’s equity for several different purposes, but you have to be careful what reasons you use the loan for. Every individual has different financial circumstances, but there are some main do’s and don’ts when it comes to home equity.

Improve your home– Making improvements to your home is a safe way of using home equity loans. Using the funds to modify your living space will increase the overall value of your home. Completing a one-time project in your home is another safe way to utilize home equity funds.

Consolidate debt– Minimizing balances, like high-interest credit card debt is another way to put good use to your home equity loan. Lowering the percentage of interest you have to pay with the home equity funds can end up saving you thousands of dollars. Be sure to make financial changes, so you do not end up in more debt than you were before.

Do not splurge on luxury items– Using your home equity funds for vacations and expensive material items is not beneficial in the long run. Home equity loans should not be seen as extra spending money, but rather as an investment. Irresponsible spending with home equity funds can lead to you losing your home.

Do not use home equity funds for basic expenses– Your basic bills like, grocery, utility, and clothing expenses should be covered by your household budget. Changes in your financial life need to be made if you cannot afford to pay for these regular expenses.

For more information on home equity loans and financial guidance, contact Chang Legal today.

The Most Helpful Tips When Buying A Home For Spring

Posted by David Chang on April 1, 2019 with 0 Comment

Spring is beginning, which means lots of people are in the market looking to purchase a new home. With the buying market looking sufficient in most areas, this is the most ideal time to buy a new home. Before purchasing a property, it is essential to have your affairs in order, like credit history and employment status. Chang Legal is here to help you excel at your home-buying odds with these important tips:

Have a good credit history:

The most crucial aspect of a borrower is an excellent credit history. Lenders are more likely to fiance money to someone with a solid credit history. Building a good credit history includes paying off credit cards on-time, cell phone bills, and student-loan debts. It is also recommended to limit your monthly subscriptions to ensure your credit remains stable.

Build a solid career status:

When reviewing a mortgage application, one of the first things a lender will look at is employment history. Lenders do not like to see a laundry list of jobs for short periods of time. It is beneficial to have little to no gaps in employment history of the last two years if you are looking to purchase a home in the spring/summer seasons.

Avoid large purchases:

Whether you are planning to go on vacation or buy a new car, it is crucial you get this approved by your lender. Your debt-to-income ratio will have a great effect on how much money your lender is willing to finance. It is recommended to clean-up your financial resume before giving it to your lender, this will not only make you look more reliable, but will also grant you more money.

For more information or any questions about the most helpful tips when buying a home for spring, 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.