Final_Essay

page one Renting an Apartment is a better option than Buying a House. Vanessa Ocampo Com/156 University Composition and Communication II 11/10/11 Jeffrey Pietruszynski The topic that I’ve decided to write my final essay about is, renting an apartment is a better option than buying a house. Whether renting is a better options than buying depends on many people’s income and if they have a decent secure job. When it comes to concerning renting an apartment or a house it can be somewhat time- consuming "for example" from the initial application to the lease document itself, and including everything in between, the process doesn't always move fast, depending on how fast the landlord wants to be in doing his background checks. Understanding the process is the best way to ensure that both parties receive the transaction successfully. Once a tenant expresses interest in a rental property, the first thing she or he may do is view the property inside and out. If she or he is still interested, she or he may fill out an application. This gives the landlord personal information on the tenant so the landlord can begin doing some background checks. He may run the information through the credit bureaus (if the tenant gives permission to do so) and through local court systems to make sure there is nothing unsavory about the renters. Another aspect of renting a property is the process of reference. For a tenant, "this" is similar to a job application, where a employer may check the past employers to ensure she or he was a good employee; landlords want to make sure of the same thing when it comes to concerning rental history. Landlords use this process to discover if past landlords had problems with the tenant, what the tenant's payment history was like and if the past landlord would rent to this person again. http://research.lawyers.com Once the landlord has checked references and determined that the rental candidate is desirable, he or she may make an offer to the tenant. During this time, the tenant may negotiate concession associated with renting the property. Perhaps the landlord found something during the walk-through that needs to be fixed, or they may ask for a lesser rent price because of a lack of certain services. http://research.lawyers.com page two This is the final step of the process. The landlord will gather a lease that includes clause for any concession he may have made during the negotiation process. The landlord will also specify rental procedures in this document, from when the rent is due each month to late fees payments and anything else the tenant may need to know. The tenant looks over the lease and if they agrees with what's included, the renters may sign it and receive the keys right away. http://research.lawyers.com Overall when renting an apartment or a house it give the person the flexibly to choose according to his or her income. The good thing about renting is that the rent is at a fixed rate and if there was a annual rise, and the renters couldn't afford that rise than they are free to leave and look somewhere else where they can afford paying rent. Buying a house in these indefinite times of economic recession is indeed an added burden. In another words it is just a matter of choice and affordability's while renting an apartment, but buying a house is a baggage of economic responsibilities and strenuous binding. Selecting a buyer's agent to help you find your dream home is an important first step or if you don't want a real estate agent that's up to you and your spouse. Buying a house is one of the most important transactions you'll ever take on. It is exciting, and you can keep the stress level to a minimum if you take the time to learn about your legal rights and how the home buying process works in California. First-time home buyers and repeat buyers need to be informed. Like most home buyers, you'll probably work with a real estate broker or salesperson (agent) to find your new home. A license is needed for someone to participate in a real estate transaction. Generally, this is a broker, with salespersons working under a managing or sponsoring broker's. When you contact a real estate professional, she or he should provide a consumer disclosure form explaining all the roles of buying a house. http://research.lawyers.com Looking at a home's involves more than finding one attractive to your eyes, but overall condition is important. When you visit homes for sale, sellers must disclose of all important facts about the home's defects. It doesn't matter if disclosure affects whether the property will sell, or the ultimate sales price paid. When you find a house you'd like to buy, your agent will put together a purchase and sale agreement, which contains all of the terms of the sale, including: page three * Sellers' and purchasers' names and addresses * Purchase price and down payment * Financing arrangements * The property's legal description * Requirement for good and marketable title * Property condition * Closing and possession dates * Statement of settlement costs * Condition for who bears the risk if the property is damaged before closing * Property liens http://research.lawyers.com When you buy a house, you also buy title insurance. A title search is a review of public records, looking for any problems with the title's validity before closing. The policy insures against loss dues because of certain title defects that didn't turn up during the title search. Your real estate or title company investigates the legal title of the property you want to buy, and may find issues you'll need to understand. Typical title issues relate to easements and liens. An easement is a right to use property, such as a utility easement. Liens are a charge against a property to satisfy the current owner's debt. Tax liens, mechanics' liens and mortgages are examples. You usually won't want your new home to be subject to the seller's unpaid liens. The title search serves to reveal whether there are possible title problems. A lawyer can help you assess and solve these problems so you can complete your purchase and enjoy your new home without worries. http://research.lawyers.com So weather your buying or renting it can be confusing all at the same time but a vital decision can happen while we settle down in life. If we take into consideration the above factor of cost, maintenance, time and, anguish, it certainly assures that renting a house is more lucrative than buying a house. Renting a house gives the renters a complete freedom from stress and anguish, and also saves their time to enjoy a happy and healthy affordable lifestyle. http://blog.tutorvista.com