Real Estate in Arkansas

If you are looking to move to Arkansas, or if you already live their but are looking to relocate, then it will benefit you to know about the law of real estate in Arkansas. Washington County and Carroll County are great places to look for property. When buying property, you must first send a purchase agreement to the person selling the property; it is up to them whether they accept your proposal or not. State law requires you to go into detail and include each of your terms in the contract. It is important that you at least have your lawyer look this over.

Where to buy property?

If you are looking to find some excellent real estate in Arkansas, then a good place to begin your search is in Washington County. Located in Northwest Arkansas, Washington County currently has a very strong buyer’s market which is sure to procure you a good deal. If you are interested, it will be a good idea to hurry however, as market trends seem to show that the buyer/seller market will even up in the country before other markets in the country. The reason for this is due to the quick employment growth, reduction of new construction housing, as well as a steady increase in population.

Carroll County, particularly Eureka Springs, is a beautiful community that will be able to find you housing that is not only attractive, but affordable as well. As with Washington County, there are more buyers than sellers. A home will stay on the market usually from 90 to 120 days. The market trend is staying steady with no signs of change. Also, there is a good supply of houses that are sold for prices that can meet any budget. The average selling price for a home in the county is $150,000.

Legal Title Concerns

When selling your property, it is quite possible that you may have an issue with a lien on the title. These liens may be: mortgages, land sale contracts, or involuntary liens. You will have to do a title search on your property to make sure that these and other problems don’t exist. You will also have to purchase title insurance just in case something does come up that your lien search didn’t show. Another issue is implied easement which may grant the purchaser with right of way on the property. Hopefully this overview of law and real estate in Arkansas has helped you in your decision.