mitchg

Buying an investment house with a pool is an extra level of risk.  If you are the landlord, please make sure your insurance policy specifically covers the risk if someone is hurt using the pool.  Yes, you can include language in the lease placing the liability on the...

At closing, each of the seller and buyer/borrower are provided with a closing statement detailing the credits owed or debits due, and of course the net amount due seller or owed by buyer/borrower.  This statement can be difficult to follow.  It is your money, so don't...

In my legal career, I have prepared and reviewed thousands of residential real estate contracts.  They follow a typical pattern, appliances and sometimes furniture are included in the sale, the buyer posts a deposit and pays cash or obtains a loan for the difference. ...

Especially for commercial closings, you should discuss with your tax advisor the best way to allocate the purchase price for income tax purposes.  What percentage to allocate to the land, building, goodwill, covenant not to compete, etc.  Be aware, it does matter, as...

Our firm recently had a client come to us after spending $80,000.00 to buy a home at a foreclosure sale, plus investing another $200,000.00 into the home to fix it up.  Unfortunately, the client was being foreclosed by the first mortgage holder and did not understand...

Closings should be transparent to you, as the buyer or seller.  We make sure that you are updated throughout the closing process.  Better to give you too much information that to have a "surprise" at the end.  Real estate surprises are typically not good.  if you have...

I recently met with a client interested in purchasing an investment condominium.  At a list price of $295,000.00 and rent of $1,900.00 per month, even with twenty percent down, the excepted was a negative $7,000.00 per year.  We did not even factor in any money for...

Our office assists private and institutional lenders foreclose defaulted mortgages.  We are often asked how long it will take to complete a foreclosure.  A good estimate is six months.  There are automatic "holds" placed on progress by the Florida Rules of Civil...

Is it better to buy a new home built for you, or an existing house?  I have done it both ways, and I found buying an existing house a far better choice for me.  You may like reviewing floor plans, wall colors, kitchen handles, and elevations, but this is not my cup of...

Are "reverse mortgages" a good idea?  We have a client who has very little income, but a lot of equity in his house.  If he took out a reverse mortgage, he would never have to "pay back" the money borrowed.  However, he would still have to pay annual taxes, insurance,...