I received an email from another client who purchased a home at a foreclosure sale without doing their title work homework. It turns out that the judgement purchased was from the homeowner's association and, whoops, the first mortgage was still in place. Now the...
Seller clients sometimes "tote the note" and carry back seller financing for a portion of the purchase price. When the buyer does not make the note payments, or does not pay the taxes or insurance, then the seller must file a lawsuit to foreclosure the mortgage and...
Moving with your child after a divorce isn’t as simple as packing up and leaving. In Florida, strict laws limit a parent’s ability to relocate more than 50 miles from their current home. If you plan to move or your former spouse does, you must understand how these...
I recently closed a large, complicated commercial loan in a week. I was one link in a chain involving many of lender's team members, the title company acting as closing agent, borrower's office manager and legal counsel, and attorneys for both sellers. Everyone had...
Carefully review the construction budget for your new home or commercial building. What is included in the cost breakdown, but equally important, what items are not NOT included in the cost breakdown, and are the allowances sufficient. Is builder's risk insurance...
What can the Seller do if it is selling vacant land and the buyer must rezone the property to utilize it for its intended purpose? Depending on the specific circumstances, this process can take six months to a year, often longer. To compensate the seller for this...
I did not invent this word! The boat slips outside my office are "dockominiums." In essence, these are condominium boat slips. Like typical condominiums, there are unique fees, terms, and shared expenses which need to be reviewed and understood before purchasing....
An easement is a right of a party to go across real property owned by someone other than the actual owner of the property. Utility companies have easements over the perimeters of most residential lots for drainage and utility purposes (power, water, cable, etc.) ...
Closing costs of a purchase and/or loan are a significant closing expense. While the "standard form" contract allocates these expenses a certain way, generally favoring the buyer over the seller, all of these expenses are negotiable. Before you sign a contract, you...
After closing, please make sure you receive copies of the signed warranty deed, title commitment, note and mortgage. A client had a significant title problem with a title company, and it would have been a great help if he had this information in his file. Mitch