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June 2017 Archives

Completing a residential property transaction online

Online banking has made the days of writing dozens of checks each month to cover household expenses a distant memory for many Delaware residents, and they can now use the internet to buy or sell real estate. Several companies already allow consumers to submit mortgage loan applications online, and websites like Zillow and Trulia let prospective home buyers view available properties on the internet and even take virtual tours. However, there are drawbacks as well as benefits when conducting residential property transactions completely online.

What to do when rent is not paid

If a tenant in a Delaware residential property fails to pay rent, a landlord may have many options to either demand that it be paid or terminate the rental agreement. At any time after rent is due, a landlord may issue a written demand for payment. If the past due amount is not paid within five days, a landlord may terminate the agreement. It may also be possible to provide more than five days to pay the past due amount if desired.

Millennials are struggling to afford down payments

Experts are reporting that the majority of millennials in Delaware and across the country don't have enough money to afford a new home down payment. The millennial generation, which remains one of the hardest hit by the financial recession, continues to struggle with employment, income and savings. Despite these drawbacks, the generation seems to remain optimistic about home ownership, with 80 percent of millennials reporting a desire to eventually own a home.