Jun 25
Real Estate Attorney - When Do You Need an Attorney?
Written by Administrator   
Tuesday, 16 March 2010 05:14

Who needs a real estate attorney when you have a real estate agent working for you, right? Wrong! agents can be very helpful in showing you where to find the perfect home or selling the one you no longer need, but they are not attorneys.

Any time someone signs their name to a legally binding document, they should have an attorney look it over first. Once you sign your name on the dotted line of a contract, you are legally bound to it. Protect yourself by having a legal expert take a look at it first.

If you are buying a house, the attorney will be able to do the following:

* They will advise you on the title documents and the best way to hold title of the property.

* They will make certain that you fully understand the sales contract and what it entails.

* They can look over mortgage terms, insurance liability and taxes. If a few more people had used real estate attorneys before they ended up with damaging hybrid mortgage arrangements, perhaps our country wouldn't be experiencing the current high rates of foreclosure.

* They will make sure that there are no problems with the title insurance

* They may attend the closing to scrutinize all paperwork before you sign it.

* If you are having a home built rather than purchasing an existing home, there are even more details that require an attorney's eye for details. The contract for a home being built is quite complex and includes deadlines, building material stipulations, zoning laws, etc.

If you are selling a house, the attorney will be able to do the following:

Last Updated on Friday, 26 March 2010 01:56
An Interesting Case in Real Estate Court
Written by Administrator   
Tuesday, 16 March 2010 03:29

The event happened in a high-rise ocean front luxury building on a main beach location in South Florida. The complaint was that the buyer signed a contract and paid the promised amount. Soon after a few months and well before programmed completion, the developer circulated the notice of certain amendments to the building. The most glaring one was about the private elevator to the unit.

The developer was now announcing that the private elevator will be shared between the two apartments. The buyer wanted to cancel the contract and get his money back blaming that the changes would considerably decrease the value of his dreamed unit in this ultra-luxury building, he brought this case to real estate lawsuit. The developer did not agree to the buyer's point, stating that the proposed changes are neither material nor substantial and would therefore be permitted by the contract. There is no question of refunding the buyer's large amount.

Last Updated on Thursday, 18 March 2010 23:55