Q. What is
a Arms Length Real Estate Transaction?
A. An Arms Length
Transaction is where a buyer and seller agree to buy or sell
with neither being under duress to complete the transaction.
Q. How do I select a Real Estate Appraiser?
A.
Normally the lending institution will select one of their
approved appraisers for you. However when an appraisal is
needed by the buyer or seller, make sure that he/she is has
a designation with a nationally recognized appraisal
organization.
Q. How Do I Determine The Living Area In My
Home?
A. Living area is normally determined
by the area that is climate controlled in a newer home. In
an older home where some areas may not have air and heating,
the factor is whether this area is actually used as living
area. Garages, porches, enclosed decks and sunrooms are not
generally not considered living area.
