With the downturn in the economy all occupations have been affected and law is no different. While the vast majority of lawyers are trustworthy we have seen an increase in attorneys mishandling client funds they were holding so it is important to make sure your funds are safe. The deposit given on the signing of [...]
I just talked to a client who had read about wills in our monthly newsletter. He mentioned he recently refinanced with an on-line mortgage lender and reduced his payment by $275 a month. His rate was good and he was happy with the speed and ease of the process and when I asked him about [...]
Buyers and sellers often wonder what happens if the buyer can’t get his mortgage approval, does the seller get to keep the buyer’s deposit. Especially when a buyer had a prequalification letter issued from a mortgage broker. Once the contract was signed the seller couldn’t sell to another so shouldn’t the buyer lose something for [...]
Some good news on the foreclosure front, more lenders are recognizing that agreeing to short sales is in everyone’s best interest. In an interesting article by Bob Tedeschi of the NY Times, he notes that Bank of America is streamlining its short sale process. As one of the country’s major lenders (which took over Countrywide [...]
A contract of sale must contain a closing date. Once the date has passed and you want to close and the other side doesn’t what to an you do to get a closing date? If the contract allows have your attorney send a TIME OF THE ESSENCE letter to demand a closing. If the other [...]
When purchasing a home the buyer should have a termite inspection as part of her engineer’s report. If termites are found a buyer should insist on three things – 1) that the entire premises be treated, 2) structural damage be repaired by a licensed contractor and 3) that the treatment come with an offer of an [...]
As a result of the depressed economy, lenders have reduced interest rates to historic lows but many homeowners are not getting the benefits as they see refinancing as a hard process. (See another interesting article from NY TIMES correspondent Bob Tedeschi) This is not the case so if you have an interest rate of more [...]
HOW TO PREPARE FOR A HOME INSPECTION
Since a buyer will be doing the inspection anyway a prudent seller can save himself time, money and aggravation by putting his house in proper working order. The little items that he didn’t have time to fix will probably become an issue when a buyer’s engineer does his report. Besides painting, [...]
I TOLD THE BROKER I’M SELLING MY HOUSE “AS IS”
Homeowners want to sell their homes with the least amount of work possible. Since they live in the homes they do find troublesome many issues that a new buyer and her engineer will find objectionable. A seller will always try to sell their homes in AS [...]
Being friendly and helpful are important qualities, but experience coupled with industry knowledge and negotiating skills are of more importance. Your broker will help guide you in finding houses to view and to make a suitable offer. Select with care as she will assist you in making an expensive decisions. You must have confidence in [...]
5 Myths That Can Ruin the Purchase of Your Home
