It seems like an easy thing to do when selling a property: just hand over the keys and include an “as-is” clause in the contract. After all, caveat emptor – “buyer beware.” But do you really know what an as-is clause means?
Looking through the local news recently, I noticed an article about D.C. companies making significant changes to their office spaces. Notably, statistics show that more and more businesses are choosing to downsize their spaces and move to other locations.
In the early morning hours of June 24, 2021, the Champlain Towers South Condominium, a 12-story beachfront condominium in Surfside, Florida, collapsed as people watched in horror. Ninety-eight people died and dozens were injured. Soon afterward it was revealed that the condominium had structural problems that went unaddressed for several years. Its concrete and steel structural supports had severely weakened over time due to water intrusion and corrosion.
Are you thinking about offering your home as a short-term vacation rental? Next to driving for Uber, short-term vacation rentals are the latest craze in side-hustles. But before you clean out that extra bedroom and list your home on Airbnb or another online vacation rental website, you’d better make sure that you have the legal right to do it. If you live in a condominium or a community with an HOA, the covenants, conditions and restrictions (CC&Rs) may prohibit it. In addition, many counties and cities have legal restrictions on short-term home rentals. So you also need to check your local zoning laws and ordinances to see if there are any such prohibitions.
Have you received a notice in the mail from a company advising you to purchase coverage for the water and sewer pipes on your property? Many homeowners do not realize that any damage to the water and sewer lines that run from their home to the water and sewer connections in the public right-of-way are their responsibility and not that of the utility company. Homeowners insurance may cover a water line break or leak within the home or sewage back up into the home (depending on coverage), but it typically does not cover repairs to broken water or sewer pipes located outside of the home between the home’s foundation and the water and sewer connections in the public right-of-way.