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Real Estate Services

FOR THE MOST IMPORTANT FINANCIAL TRANSACTION OF YOUR LIFE,

CALL YOUR LAWYER!

Nothing is further from the truth than the mistaken belief that you don't need a lawyer when you buy or sell a home.

DUAL AGENCY

Did you know that

•  The new laws provide that a salesperson in an office could be working for you while another salesperson in the same office could be working for the folks on the other side of your transaction?

• That your salesperson could represent both you and the other party in the same transaction with appropriate written disclosure and consent?

 If that were to happen, what would be the significance of your signature on such a disclosure and consent form? By law, as licensed lawyers, we must be completely loyal to you without any competing loyalties to other persons.

For the largest financial transaction of your life, spend a few minutes developing a relationship with a real estate lawyer who will discuss these new laws with you and set the stage for retaining your real estate salesperson.

INSPECTIONS, ATTORNEY REVIEW, MORTGAGE CONTINGENCY CLAUSES

Immediately after signing a contract, the clock begins ticking on your inspection period, attorney review period, and Mortgage contingency period. Only your lawyer can explain all of the legal ramifications of these time frames and take the necessary action to comply with all of these contractual matters.

Inspection Period

In the case of the inspection period, it is the attorney who corresponds with the inspector, helps the Buyer/ Seller review the report, and decides what matters can and should be negotiated. The attorney then negotiates all the inspection issues and drafts the proper documentation to insure that contract compliance is achieved and that proper credits are reflected on the closing statements.

Attorney Review Period

Attorney review periods allow an attorney to completely void a transaction for any reason. This powerful provision can only be invoked by an attorney.

Mortgage Contingency Period

Similarly, your contract provides the parties with the proper procedure for seeking financing within a specific time frame, and only proper notice can extend the time period. Your attorney will insure contract compliance.

SHORT SALES

If you are selling your home and are UPSIDE DOWN in your mortgage payments, a wise step is to hire a real estate  Attorney to help. They are skilled and knowledgeable about dealing with LENDERS and obtaining the best solution to the problem.

From the start of your deal  they will be working on the  HUD 1 forms necessary for the Bank’s Consent to the short sale. Whether you are buying or selling in a short sale it is imperative that you hire a Real Estate Attorney to protect your rights.

AS IS

All contractual language is negotiable and every word has legal significance.

• What is the legal difference between "as-is" and "as-is with warranties"?

• What are the effects and consequences of defaults by any party?

Real property disclosure laws require that the seller provide a specific legal disclosure of potential defects in the property to buyers.

• What are the legal consequences to the seller if that document is not in proper form?

• What happens if facts are incomplete or misrepresented?

• What effect does the disclosure have on the contract?

TITLE PROBLEMS

Only a Real Estate Attorney can help you insure that as a buyer you are receiving good Title and as a Seller you can properly deliver good title. There are many instances when only a lawyer can help you do this properly.

• If a party in title is predeceased, there may be title issues requiring the services of an attorney.

•  If a prior mortgage release deed was never recorded, an attorney’s help will be needed.

As agents of a leading underwriter, we can also provide title insurance and related services in addition to legal advice. We will also insure that you are paying competitive rates for Title Insurance.

THE CLOSING

The third stage where legal representation is critical is at closing. Everything comes down to that single point in time when legal title is transferred from seller to buyer and money is funded from lender to buyer to seller.

• Dozens of legal documents are passed back and forth across the table between the parties involved.

• As Sellers, we prepare these documents and will advise you as to their effect, purpose, and importance and

• As Buyers, we examine them for errors.

• Why should you have to escrow funds for something that isn't called for in the contract?

• What are the legal ramifications of setting up such an escrow?

• What is the legal significance of the mortgage and note? How do they impact the buyer's title?

We will answer these questions at closing, resolve the myriad and competing interests, and transform those problems into a successful closing.

Only a lawyer is authorized to provide the legal answers and analysis that these questions and problems require. Don't place your real estate salesperson in the position of having to decline to answer such legal questions at closing.

"If a dispute or problem arises at closing, we will protect your interests."

We are experienced and qualified to assist you in your real estate transaction and other matters. Allow us to develop an ongoing professional relationship with you to meet all your legal needs.

Disclaimer:  Legal advice varies depending on the facts.  for that reason, the information in Client Bulletin should not be acted on without consulting a lawyer.

First Time Home Buyer Presentation.