Selling a property can be a challenging experience, especially if you're unfamiliar with the different legal and financial processes involved. As a seller, it's important to protect your interests and safeguard yourself against any potential legal or financial issues. Meaning, anything that may arise during, or after, the transaction. In this comprehensive guide, we'll walk you through the various ways in which you can protect yourself as a home or commercial property seller. 1. Hire an Experienced Real Estate Agent One of the best ways to protect yourself as a home or commercial property seller is by hiring an experienced real estate agent. A knowledgeable agent can provide you with in-depth market insights and handle negotiations. Additionally, they can ensure that all necessary paperwork is completed accurately and on time. By hiring a reputable agent, you'll have access to expert advice and guidance that can help you navigate the housing market. 2. Get a Home Inspection Before you put your property on the market, it's essential to get a home inspection. A home inspection can identify any issues that need to be addressed before you sell your property. From, structural defects, electrical problems, or plumbing issues. Addressing these issues before listing your property can help you avoid potential legal or financial issues down the line. 3. Be Transparent About Your Property When selling a property, it's important to be transparent about any known issues with the property. Failure to disclose issues can result in legal action, which is why it's always best to be honest with potential buyers. Additionally, your real estate agent can help you address any issues and ensure that you provide accurate disclosures to potential buyers. 4. Understand Your Legal Obligations As a seller, it's essential to understand your legal obligations. This includes ensuring that all necessary paperwork is completed accurately and on time, adhering to local zoning laws and regulations. Additionally, ensuring that your property is in compliance with environmental regulations. Your real estate agent can help you navigate the various legal requirements and ensure that your property sale proceeds smoothly. 5. Consider Title Protection Title protection is a type of insurance that can protect you as a home or commercial property seller if any issues with the title arise after the transaction is complete. This type of insurance can provide you with peace of mind, knowing that you're protected against any potential legal or financial issues arising from disputes over the title or ownership of the property. Selling a property can be a complex and challenging process, but by following the tips outlined in this guide, you can protect yourself as a home or commercial property seller and ensure that your transaction proceeds smoothly. Remember to hire an experienced real estate agent and get a home inspection. Finally, be transparent about your property, understand your legal obligations, and consider title protection. By taking these steps, you'll be able to safeguard your interests and protect yourself against any potential legal or financial disputes. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com

Choosing between modular homes and mobile homes can be overwhelming for many home buyers. They both have their advantages and disadvantages, making it difficult to determine which one is better for your needs. Modular homes are designed like traditional homes and are built in sections that are assembled on-site. Mobile homes, on the other hand, are built on a steel chassis and are designed to be moved from one location to another. In this blog post, we will compare modular homes vs mobile homes, their differences, benefits, drawbacks, and costs to help you make an informed decision. The Construction Process Modular homes are built in sections in a factory, where they are subjected to stringent quality control checks. Afterward, the sections are transported to the building site and assembled on a foundation. As a result, modular homes are quicker to build than traditional homes. The construction process usually takes weeks, and they are designed to meet all building codes. Mobile homes are built on a chassis in a factory and are transported to their location. However, installing mobile homes is not as time-efficient as it is for modular homes. There are also fewer standards in the mobile home industry, so it's essential to hire a reputable manufacturer that uses high-quality materials. Customizability Modular homes offer greater flexibility in design than mobile homes. Since they are built-in sections, you can customize them to meet your unique needs and preferences. This means that you can select the features, materials, and finishes that you want, similar to traditional homes. Mobile homes, on the other hand, offer limited customizability because of their design and layout. As they are built on a chassis, it becomes challenging to modify them once they have been constructed. However, some manufacturers provide some level of customization in the layout, size, and finishes. Costs Modular homes are generally more expensive than mobile homes. They have a higher initial investment cost because they are built to the same standards as traditional homes. This means that you'll have to pay for other expenses such as the foundation, permits, transportation, and assembly. However, you will benefit from the long-term value of your home on resale. Mobile homes are cheaper than modular homes but may depreciate more quickly due to their construction materials. They are also subject to a shorter lifespan, and this may require more maintenance and repairs over time. Durability Modular homes are built to withstand harsh weather conditions and time. They can be as durable as traditional homes and have a longer lifespan than mobile homes. They have a solid foundation, high-quality materials, and undergo rigorous inspections during and after construction to ensure they meet all building codes. Mobile homes, on the other hand, are more susceptible to damage from severe weather conditions such as tornadoes or hurricanes. This is because they are built-in sections transported on a chassis, which leaves them more prone to damage. The decision to buy a modular home or a mobile home depends on your unique needs and circumstances. Modular homes are more durable, customizable, and have a longer lifespan. However, they are more expensive than mobile homes. In contrast, mobile homes are cheaper, easily transportable, and have a shorter lifespan. Still, they are less customizable than modular homes. In conclusion, before making any decisions, we advise that you consult with a reputable real estate agent or contractor. They will guide you on what options align with your preferences, budget, and lifestyle. Identifying the best type that meets your needs will ensure that you get the best return on investment in the long run. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com

In today's fast-paced world, people tend to make deals with just a simple handshake or a few words of agreement. However, while verbal agreements are still used in various areas of business, they are becoming more and more unreliable. It can lead to disastrous consequences, especially in those cases where there is a conflict of interest or a misunderstanding. This is why it is essential to have your deals in writing. In this blog post, we will explore why you should always insist on a written agreement and the benefits of doing so. 1. Clarity and Detail One of the primary advantages of having your deal in writing is that it provides clarity and detail. When you have a written contract, it can establish the terms of the agreement. Additionally, including its purpose, scope, and specific details related to the transaction. The terms will consider all possible scenarios and many things are discussed in detail so that there is no ambiguity. This means that everyone involved in the transaction knows what is expected of them. There is a clear understanding of what will happen if there is a breach of the contract. 2. Legal Enforceability Another benefit of having your agreement in writing is that it is legally enforceable, which means it has the power of law behind it. This means that if one party breaches the contract, the other party has legal recourse to remedy it. In comparison, verbal agreements are difficult to legally enforce, and they often depend on word of mouth. By having your terms in writing, you have the legal benefit of protection. 3. Better Communication and Record Keeping Having deals in writing allows better communication and record-keeping, ensuring that there is no loss of information. For example, if there are multiple parties involved in a transaction, the written agreement can be circulated to all parties. It can then be referred to later if there are any queries. Without a written agreement, there is no easy record to go back to should there be a dispute down the line. Which can be detrimental, particularly when dealing with large sums of money. 4. Professionalism By insisting on a written agreement, you show professionalism and a sense of responsibility. This demonstrates that you take your business dealings seriously and are not willing to cut corners that can lead to misunderstandings or conflict with your counterparties. It portrays your accountability for your actions. This is an instrumental element, particularly in any business where integrity is essential in building and maintaining a solid reputation. 5. Peace of Mind Finally, having your agreement in writing provides peace of mind. A verbal agreement can never provide you with the same level of protection as a written one. By having everything written down, you're guaranteed that everything lies in writing, creating accountability. It can give you the extra boost of confidence and assurance that everyone is on the same page, and no one will feel slighted down the line. In conclusion, it is essential to have everything in writing to avoid any misunderstandings or conflicts. The need for the written agreement extends beyond the legally enforceable part of the deal, from professionalism to better communication and record-keeping. So, the next time you're making a deal, don't hesitate to insist on a written agreement. It will prove to be the smartest decision you ever made. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com

There’s no denying that houses can cost a fortune, which is why most people opt to take out a mortgage to finance their dream home. However, for businesses looking to acquire properties or expand their operations, commercial loans are often the go-to financing option. While both options involve borrowing money, why is it that commercial loans tend to have higher down payments and interest rates compared to home mortgages? In this blog, we’ll dive in and explore the reasons behind this discrepancy. Commercial Loans Require a Larger Down Payment Compared to home mortgages, commercial loans require a larger down payment, usually ranging from 20-30% of the total loan amount. This is due to the higher risk of default that comes with these loans. It is much easier for someone to walk away from a failed business than it is for them to abandon their home. Commercial lenders need to make sure that borrowers have skin in the game and are less likely to default on the loan if they have invested a significant amount of their own funds. Higher Interest Rates Another major reason why this type of loan often comes with higher interest rates is because of the increased risk level they represent. Commercial loans generally come with higher risk than home mortgages, which means that lenders charge higher interest rates to offset this risk. Furthermore, commercial loans typically have shorter repayment periods than home mortgages. Commercial loans require a higher payback rate, which increases the risk to the lender. The loan amount that is lent for commercial loans may also be larger than what is lent for home mortgages since it typically involves the purchase or expansion of a business. Therefore, lenders put higher interest rates in order to balance the risks involved. Creditworthiness Creditworthiness is also a significant factor in determining the interest rate. Unlike home mortgages, commercial loans require not only the business but the individuals related to it to submit their credit score. A borrower with a bad credit history will eventually be charged higher interest rates since his or her perceived risk is higher. Creditworthiness helps lenders determine how much interest they are going to charge since this will represent the risk associated with the borrower. The Economic Cycle Another factor that can influence the interest rates for commercial loans is what happens in the economy. Commercial lenders keep a sharp eye on the economic cycle, particularly when the economy is in the recession stage. Interest rates are higher when there is a recession, which makes borrowing more expensive for businesses. This is why it is always beneficial for borrowers to keep a lookout on the economic cycle to determine the appropriate time to get a commercial loan. Commercial loans have substantially higher down payments and interest rates compared to home mortgages and for good reason. Lenders face more risk when they approve commercial loans, making it important to offset this risk with larger down payments and higher interest rates. Lenders also take creditworthiness and the state of the economy into account when deciding on interest rates. At the end of the day, borrowers should carefully consider their financial situation and the risks involved before taking out any loan to ensure that they can make repayments on time. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com

Renting out a property can be a great source of extra income, but when it comes to finding tenants, many property owners face the challenge of filling vacancies with long-term renters. Sometimes, however, what you really need is a tenant for a shorter term, like a travel nurse who is only in town for a few months. Luckily, innovative resources, such as Furnishedfinder.com, connect property owners with tenants seeking a more short-term solution. In this blog post, we'll discuss how Furnishedfinder.com works and how it can help make your property a more attractive rental for those searching for a temporary home. Benefits of Short-Term Rentals: There are many advantages to renting out your property for a limited amount of time. For one, you don't have to worry about a lengthy lease agreement. Instead, you can rent out your property to numerous tenants over time. Additionally, you can charge higher rental rates for short-term rentals since the tenants usually need housing. Furthermore, if you want to use your property yourself for an extended period, you can do so by renting it out for short-term periods of time when you are away. How Furnishedfinder.com Works: FurnishedFinder.com was established in 2008 as the first company in the travel nurse housing industry to specialize in fully furnished monthly rentals. The website connects property owners with travelers in search of short-term rental options. Property owners can advertise their furnishing, location, and availability while renters can browse listings that fit their needs, such as locations near their work or with specific amenities. There are no listings or subscription fees for property owners, which makes it easy and cost-effective to advertise on Furnishedfinder.com. Sign Up for Property Owners: To start renting out your property, simply set up an account and fill out the basic information about your property, including the location, number of bedrooms, and available dates. Don't forget to upload images of the space and highlight any unique selling points. Once you're ready, your property will be listed on Furnishedfinder.com, and travelers can contact you to rent your property. It's that simple! Pros and Cons of using Furnishedfinder as a Resource: While Furnishedfinder.com is a great resource for short-term rentals, there are some pros and cons to consider when using their service. One significant advantage is that the tenants using the website are typically vetted by medical staffing agencies or traveling on work assignments, which makes for a more dependable rental experience. Additionally, the website offers many features, including renters insurance, utility setup support, and support for locals who can help to check on your property when you're away. On the other hand, the website is narrower in scope than traditional rental platforms, meaning your potential pool of renters may be more limited. However, if you are looking for a reliable tenant for a shorter rental term, the limitations may not be a significant issue. Whether you're renting out your property for extra income or trying to take advantage of a temporary vacancy, Furnishedfinder.com could be an excellent resource for you. By offering short-term rental options that are easy to set up and manage, property owners can attract tenants in need of a short-term solution. Remember; providing quality facilities and service will inevitably bring good reviews, and in turn, attract more potential renters. By considering Furnishedfinder.com as an option for your rental needs, you can take advantage of the benefits of short-term rentals and, potentially, make more money! Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com  

If you are planning to buy a home or searching for a property investment, consider buying a duplex. For those unfamiliar, a duplex is a single building that contains two separate living units. And when you buy a duplex, you have the option of living in one unit and renting out the other side. In this blog post, we will discuss how buying a duplex can benefit you, and why it is a fantastic investment strategy. Affordable Investment Option One of the significant benefits of buying a duplex is that it is an affordable investment option. Typically, the price of a duplex will be less than two separate homes. Plus, It's a great way to start in the Real Estate investing world. Start by renting one half and living in the other. This will help keep your monthly housing expense low and let your tenant help you pay your mortgage. Passive Income Potential If you manage to rent the second unit out, you would be creating a steady stream of passive income. Plus, the rent payment from tenants will pay your mortgage AND supplement your income - making this investment a potentially lucrative activity. Equity Buildup What's more, owning a duplex helps you build equity over time. As you pay down your mortgage, your ownership stake in the property increases, and the property's value appreciates. This increase in the property's value creates wealth and produces substantial returns on your investment. Extended Value in the Long Run Duplex has great long-term value, particularly in locations experiencing population growth and low housing inventories. Over time, duplexes can increase in value as the demand for affordable housing continues to grow. If you decide to sell the duplex in the future, you may be able to resell it for a higher price than what you initially purchased it for, thus generating a profit. Better Living Arrangements Besides the financial benefits, living in a duplex has several quality-of-life attributes. For instance, with careful selection, you can find tenants that share your lifestyle and suit your living preferences. You can also utilize the rental income to fund future expenses, which will reduce your financial burden. In conclusion, buying a duplex is a worthy investment that offers multiple significant benefits. While it may require tremendous effort on your part to secure one and manage it, it's an admirable goal that can undoubtedly lead to long-term financial and personal achievements. Consequently, with a bit of hard work and dedication, finding a duplex that is well-suited to your needs and can help pay for your rent is entirely possible. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com  

Having a renter move out is never an easy experience. As property owners, we invest a lot of time and money into maintaining and renting out our properties, so it's understandable to feel a bit unsettled when renters move out. But what if we told you that this shouldn't be a source of stress? In fact, having a renter move out may be an opportunity to take advantage of. By renovating the unit and increasing the rent based on improvements, you may be able to take your property to the next level. Let's explore why you shouldn't stress if a renter moves out of your property and how you can benefit from this opportunity. Make Renovations to Your Property One of the greatest benefits of having a renter move out is that it provides an opportunity to make renovations to your property. By making updates and improvements to your rental unit, you'll not only keep your property in top condition, but you may also be able to increase the value of the unit, which will ultimately increase rental rates. Some popular updates that you can make include updating appliances, replacing countertops, and refreshing the paint in the unit. Increase Rental Rates Another advantage of a renter moving out is that it allows you to increase rental rates. By making renovations to your unit and marketing it as an updated, high-quality rental, you can justify charging a higher rental rate. Before increasing your rental rates, however, ensure that you research the current rental market in your area and determine what other comparable units are renting for. This will help you establish a realistic and fair rental rate increase that your future renters will be willing to pay. Find the Perfect Renter When a previous renter moves out, it gives you the opportunity to seek out the perfect renter for your unit. This can be especially advantageous if your previous renter didn't always treat your property with respect. By using this transition as an opportunity to find a renter who is a better fit for your unit, it may decrease the chances of property damage in the future and ensure that your property is well taken care of. Negotiate Rental Terms Lastly, having a renter move out provides you with the opportunity to negotiate rental terms that may have been problematic with the previous renter. For example, if your previous renter refused to pay pet fees, you can find a new renter who is willing to follow all the rental terms and agreements from the very beginning. This way, you can have a better relationship with your renters, and this partnership can last for years to come. In conclusion, having a renter move out can be an opportunity to take advantage of instead of a source of stress. By renovating the unit and updating the property, you can increase the rental rates and the value of the unit. You can also find the perfect renter as a replacement and negotiate rental terms that caused problems with the previous renter. So, don't fret over having a renter move out. Instead, take the opportunity to improve your property and set yourself up for success. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com