Arkansas is a state with a diverse range of real estate investment opportunities. The state has a strong economy, with a growing population and job market. In particular, the Little Rock and Fayetteville metropolitan areas have seen strong growth in recent years, which can create demand for housing and make them attractive markets for real estate investment. Arkansas also has a relatively low cost of living, which can make real estate investments in the state more affordable compared to other parts of the country. However, it is important for investors to carefully consider the local market conditions and do their due diligence before making any real estate investments.
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Non-Judicial
Title agents handle escrows, and attorneys conduct closings. Conveyance is by warranty deed. Mortgages are the customary security instruments. Foreclosure requires judicial proceedings, but there are no minimum time limits for completion. Arkansans use ALTA policies and endorsements and receive a 40% discount for reissuance of prior policies. Buyers and sellers pay their own escrow costs. The buyer pays for the lender’s policy; the seller pays for the owner’s. The buyer and seller split the state documentary tax. Property taxes come due three times a year as follows: the third Monday in April, the third Monday in July, and the tenth day of October.
3 times per year; 3rd Monday in April, 3rd Monday in July, and 10th day in October.
YES. Key components of property management are considered a real estate activity under existing Arkansas real estate licensing laws. A broker's license is required for any person or company who, for compensation, engages in the lease or rental of real estate in Arkansas, who offers or lists real estate for rent or lease, who collects rent for the use of real estate or who assists or directs in the negotiation of any transaction intended to result in the rent or lease of Arkansas real estate. A salesperson working under a broker may engage in such activities.
Certain limited exemptions exist. For example, on-site residential managers who reside at the property and who are engaged in the leasing of real property in connection with their employment need not have a real estate broker's license. For more information about these and other Arkansas property management requirements and exceptions, please contact the Arkansas Real Estate Commission. Before hiring a property manager to manage your Arkansas rental property, you should always check they he or she is licensed properly. You can check the license status of an Arkansas property manager at the Arkansas Real Estate Commission License Search.
A community association manager need not be licensed as a real estate broker to manage a community or condominium association in Arkansas.
Title agents handle escrows, and attorneys conduct closings. Conveyance is by warranty deed. Mortgages are the customary security instruments. Foreclosure requires judicial proceedings, but there are no minimum time limits for completion. Arkansans use ALTA policies and endorsements and receive a 40% discount for reissuance of prior policies. Buyers and sellers pay their own escrow costs. The buyer pays for the lender’s policy; the seller pays for the owner’s. The buyer and seller split the state documentary tax. Property taxes come due three times a year as follows: the third Monday in April, the third Monday in July, and the tenth day of October.
3 times per year; 3rd Monday in April, 3rd Monday in July, and 10th day in October.
Warranty deed.
