7 Critical Legal Tips for Homeowners
Home ownership is an investment fraught with potential legal problems. The following tips are designed to help you plan for potential problems in the future and handle unexpected events when they occur. If you have questions contact your LegalShield provider law firm today.
1. Homeowners Insurance – Having an adequate homeowners insurance policy is extremely important. Buying a policy because it is the most affordable may be a recipe for disaster. Make sure your policy covers natural disasters common to where you live. You should review your policy yearly to make sure your losses will be covered in the event of a disaster.
2. Important Information – Keep important information, such as insurance documents, warranties, deeds and wills in a safe location where they will not be lost or destroyed.
3. Preventative Maintenance – Few things are more frustrating to a homeowner than unexpected and costly home repairs. Having major appliances as well as your home’s plumbing, electrical and roof checked before a problem arises can save money in the long run. If a costly repair is needed, seek out a second opinion and always get an estimate in writing.
4. Home & Appliance Warranties – Home and appliance warranties are only as good as their fine print. Before signing up for a warranty have your LegalShield provider law firm review the terms carefully for exclusions and hidden costs.
5. Neighborhood Nuisance – Disputes between neighbors can quickly spiral out of control. Before taking matters into your own hands, understand the local laws regarding common neighborhood disputes such as litter, aggressive animals and loud noise. Contact your LegalShield provider law firm and discuss your concerns with an attorney who understands the local laws.
6. Mortgage Scams – The mortgage crisis led to a booming industry in mortgage relief scams. Be wary of forensic mortgage audits, loan modification guarantees and class action mortgage relief. Scammers use direct mail and phone calls to solicit victims. Do not sign any agreements or make any payments before speaking with your LegalShield provider law firm.
7. Renting – Before you consider renting your property make sure your mortgage allows the space to be used as a non-primary residence. Many homeowners’ insurance policies exclude renters. Review the terms of your mortgage and insurance carefully. Your LegalShield provider law firm may also help review any lease or roommate agreements before they are signed.