If you’re new to “The Realty Blog” or just looking to take a stroll down memory lane, this week’s blog is a quick snapshot of some of our most popular posts from the past year. The experts at Attorney’s Title Group write these blogs to bring forward important real estate topics that are not always discussed. We’re pleased that The Realty Blog reaches you and that you take the time to read it. Should you have a burning Real Estate question, please ping us in the comments box below! Now, enjoy some Blog snippets from the past year:
What Qualifies a “Bedroom”?
We all know what a bedroom is, right? At first glance it might seem like an obvious, common-sense piece of information for any Realtor or real estate expert. But if you look deeper into state real estate laws, you might find some conflicting opinions. To qualify as a bedroom here’s what a room needs:
- At least 70 square feet of space, measured at least 7 feet in any given direction.
- Two means of egress (escape), usually a door and window. There are some arguments to be made here for outside doors and skylights, but the window is more traditional.
- A 7-foot ceiling, but again this depends on state codes of safety.
Realtors face this fight on occasion, where a room that would otherwise be a wonderful bedroom doesn’t “qualify” because of a lack of closet space. The workaround is usually a description noting the “flexibility” or “multipurpose use” of the room.
5 Things Realtors Lacked in the 70’s
Once upon a time, a Realtor’s word was all someone had moving into a close. “It was in the mind of the agent. You had to trust that [the agent] was steering you correctly,” says Mr. Bueter. In 2017, he says, there’s an overwhelming amount of information to educate a buyer or seller that wasn’t available in the 70’s and 80’s. “Now a Realtor can give you sheets of information on other comparable properties that neighbors sold. Back then, though, the first place a prospective client went was the newspaper. Today it’s the internet.”
Integrity of Closing – Who Cuts the Check?
There are exceptions to this rule, but traditionally the title company that is closing the seller of a property cuts the commission checks for both the selling and listing agents. This is the case for practical reasons: the selling party has all the pertinent information already on hand, and once the closing proceeds, all the minute details have already been cemented by all parties involved.