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What is a “due on sale” clause in a mortgage contract? This common phrase, found in most conventional home loan paperwork, means that when a property is sold, the entire balance of the loan comes due. Yup, you have to pay off the whole thing!

What is a ‘due on sale’ clause?

“Due on sale” clauses are a type of acceleration clause. Acceleration clauses protect lenders by allowing them to accelerate, or call, a loan if a borrower takes certain actions.

Accelerating a mortgage is usually a bad thing: In most contexts, it means that a borrower has missed payments or violated the terms of the contract, and the lender is demanding that the full amount of the loan be paid immediately or be subject to foreclosure.

“Due on sale” acceleration, however, is a normal part of selling a home. Typically, homeowners will use the proceeds of the sale of their home to pay off their loan in full, then take out a new loan when they’re ready to purchase another property. (Meanwhile the buyers of the home will get their own home loan separately.)

New rules would require homeowners and tenants who offer short-term rentals to register units with the city. Airbnb and hosts call the requirements overly restrictive.

HGTV

It’s nice to see a celebrity who’s making a huge comeback take time out of her busy schedule to give something to someone who has done a lot for her. Property brothers Jonathan and Drew Scott gamely step in to help with that on “Celebrity IOU.”

In the “Kate Hudson’s Backyard Build” episode, Hudson wants to help redo the backyard of Melissa, the mother of her fiancé, Danny Fujikawa.

Melissa is an educator who spends a lot of time taking care of Hudson and Fujikawa’s daughter, as well as Hudson’s other two sons. But Melissa broke both her ankles earlier this year and hasn’t been able to tend to her backyard as she usually does.

She needs a backyard where the kids can safely play and do artwork, and she can get around with more ease. She’s always dreamed of having a garden like the ones in the south of France.

Compass broker David Schlichter says Jason Oppenheim has it all wrong. His rebuttal? The things that Compass is doing right will keep this brand afloat for the foreseeable future.

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Billionaire Eddie Lampert will be spending less time on the slopes.

The one-time CEO and chairman of retail and service chain Sears has listed his seven-bedroom, 7.5-bathroom mountain mansion for $35 million.

Offering over 15,000 square feet of luxe living space and nestled in the breathtaking peaks of Aspen, CO, this fabulous residence truly shimmers thanks to its glass walls.

Built in 1987, the home sits on a 3-acre parcel.

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The new office will be located in Osterville and led by Managing Partner Eric Rollo, who launched The Agency Boston in 2021. It marks The Agency's 67th franchise globally.

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Renovating a home, no matter the time of year, can be equal parts exciting and overwhelming. However, renovating in the winter may come with its own set of additional issues.

Exterior renovations are especially risky during the colder months since the ground at your construction site can be slippery and wet. Plus, you need to take holiday travel schedules, inclement weather, and freezing temperatures into consideration. All of this can make finishing your remodel on time even more challenging than it already is.

To help you better prepare for wintertime home revamps, we tapped a few experts and asked them to divulge the most common missteps homeowners make. Avoid these mistakes when diving into a wintertime home renovation.

1. Choosing the wrong materials and equipment

It’s important to keep in mind that plastic window sealants might not stick and timber might expand when it’s freezing.

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The one thought on every renter’s mind on move-out day (aside from “How the heck am I going to get this sofa through the front door?”) has to do with the security deposit. Will you ever see that money again?

According to most leases, your only hope is to return your apartment in the same condition as when you took possession, beyond “normal wear and tear.” Still, though, this raises the question: What exactly is normal wear and tear, and what crosses the line?

Read on to learn just what you need to fix, and what you can let slide.

What qualifies as ‘normal wear and tear’

Unfortunately, when it comes to pinpointing wear and tear, there’s no specific laundry list of flaws that landlords will find acceptable to leave behind. It helps to think in terms of things you encounter in your own home on a daily basis.

Jonathan and Drew Scott

“Property Brothers” stars Jonathan and Drew Scott may make real estate look fun as they renovate houses on HGTV, but they also know that buying a house can be a daunting endeavor, especially today. Though many might worry that the current high interest rates and unpredictable market swings make this a terrible time to buy, the Scott brothers stand firm that it’s never a bad time—if you find the right house.

“You can make a good purchase in real estate whether it’s an up market, sideways market, rates up or down,” Jonathan says. “The big thing is you need all your information.”

To help shed light on exactly what info homebuyers need, the property brothers chatted with Realtor.com® as part of their partnership with Chase Bank to reveal some top real estate trends they’re seeing as well as their best advice for today’s homebuyers and sellers. They also shared some somewhat mortifying details about their own first foray into homebuying decades ago, as well as what they hope to do (and whom they hope to meet) down the road.

Can you tell us about your first time buying a home?

Jonathan Scott: We found a house that needed a ton of work. We didn’t have a bunch of cash lying around, so we saved a little bit of money. But really, the seller had to sell. He ended up doing a vendor take-back mortgage (aka owner financing) for a lot of his equity, which helped. It was a big eye-opener for us that there isn’t just one way to buy a house.

Here’s how to dress it up and choose the tools you’ll need — before you build that first roaring fire.

Although the 300-page sales contract was daunting and agent representation falls short, Inman founder Brad Inman discovered that Paris offers a lot to love, and laws that protect its citizens.

Incremental changes, one action at a time, one day at a time, will add up to behaviors that, when repeated consistently, will deliver the results you want in the year that lies ahead.

While the real estate market always presents challenges and variables, the way you respond is up to you and you alone, writes luxury agent and coach Amie Quirarte. With 2023 on the horizon, what better time to start implementing her favorite strategies than now?

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Also called “demand-type” or “instantaneous water heaters,” tankless water heaters deliver warm water only when you want it. Conventional water heaters, on the other hand, perpetually heat water whether you need it or not.

Traditional hot water tanks use electricity or gas to heat and store hot water until that magic moment you decide to take a shower or wash your dishes. As faucets dispense hot water, cold water refills the tank, and the heating process begins again.

If you use hot water faster than your tank can warm the water, you’ll find yourself feeling the side effects, in the form of a cold shower.

Tankless devices, on the other hand, heat water on the way to your faucet; as the name implies, there is no the storage tank. When you turn on the hot water tap, cold water flows into your tankless unit, which uses a much more intense electric current (or blast of gas) to quickly heat water on the way out your tap. Theoretically, the supply of hot water is unlimited.

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This is a question you might face when it comes time to sell your place. Basically, it means that before this transaction can go through, you’ll have to deal with this lien, which is placed on property by entities that claim you owe them money. Here’s everything you need to know about what happens when you have a lien on your house.

What is a lien?

A lien is a legal notice that’s placed on file as a consequence of an unpaid debt. If you haven’t paid your real estate taxes, for example, the government might impose a lien on your property. A mechanic’s lien or a construction lien might be placed by a contractor who’s done work on your home but hasn’t been paid.

How a lien is found

Before a property sale can go through, a title company is brought in to find out whether or not a seller has the legal right to sell the property. To do that, the title company searches public records for liens on the property, meaning anyone who has a claim to a portion of the money should the property be sold.

Many sellers may already be aware of liens filed on their property, but some may come as a surprise, says Barbara Carrollo-Loeffler, director of consumer and residential lending at Provident Bank in Jersey City, NJ.

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Looking for something historical with a side of spooky? Then you just might be interested in the hauntingly beautiful farmhouse located at 946 Goram Rd. in Brogue, PA.  It’s listed for $950,000.

The atmospheric abode holds a key role in Cameron Beyl’s horror film, “The Veil,” set to hit theaters in 2023. A preview of the flick notes that the cinematic story incorporates science fiction and mystery, and promises “intrigue and strange enigmas.”

The restored stone farmhouse, which is the main setting of the film, is one of the oldest in the region. It was built in the late 1700s and used for many years as a wheat mill.

Original farm equipment can still be found throughout the property’s three buildings, which include the main house, the garage, and a Scottish-Irish log barn. There’s a grand total of nine bedrooms and 4.5 bathrooms.

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A reverse osmosis water filter helps homeowners get better-tasting water by removing certain elements. After installing a reverse osmosis system, many folks appreciate the high-quality water that comes out of their taps; the water tends to taste and smell better, and the ice cubes are clear.

“It’s as if you’re drinking bottled water without the bottles,” says Mike Paice, a water specialist with the Sunny Plumber in Las Vegas.

Evian-quality water flowing freely from your kitchen faucet? It sounds like a real money saver, especially if you frequently buy bottled water. Read on to learn if installing an RO water filter in your home is a good decision for you.

What to know

Water that runs through an RO system is filtered a number of times: through two different types of liquids and a permeable film that allows through only the water molecules. Therefore, the water that comes out of your faucet will be rid of impurities but still have important minerals.

Photo courtesy of Bella's Landscaping via Houzz

After the past few years of climbing home prices—and a pandemic that made even spacious homes feel cramped—you’d be forgiven for fantasizing about moving your brood into a big country house.

One way to make it happen? A barndominium is what you get when you convert an old barn into a luxurious condominium-style abode. (You can also build your own from scratch.)

We’ve been just as curious as you are about these nontraditional country homes. So we talked to folks who have lived in (or sold) these unique homes. Here are the main pros and cons for all would-be barndominium dwellers.

Pro No. 1: Rural lifestyle

All the barndominium owners we spoke to echoed a similar line of thought: Living in one is a great option if you’re looking for a simple, rural lifestyle for your family.

Windermere Offers will allow people working with the brokerage's agents to compare various options for selling their homes.

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A beachfront home with three swimming pools but no real kitchen has hit the market for just under $6 million.

Ron Rice, founder of sun-lotion company Hawaiian Tropic, built the Ormond Beach, FL, spread in 1987 as a party palace.

Known as the “Suntan King,” Rice died in May at the age of 81. But his real estate legacy shines on.

Beachfront property

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