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Category Archives: Real Estate
Real Estate Attorney | Short Sales | Foreclosure
A short sale can be a great option for homeowners that have been faced with financial hardship. However, many homeowners are unsure of the differences between a short sale and a foreclosure. A foreclosure can damage your credit and make it difficult for you to purchase a home. A short sale is a great alternative to consider to avoid foreclosure.
In real estate, a short sell is the process through which a lender of a property allows the property to be sold for an amount less than the total amount that is due on the mortgage loan.
The short sell process can be quite complicated, and trying to go through this process alone can be very intimidating for most homeowners. A real estate attorney is highly recommended for those who are considering short selling their home. Approval from a mortgage lender is needed in order to sell the property to a third party, and a real estate attorney is able to negotiate the sale with the mortgage lender. Upon a lender’s approval, homeowners have the opportunity to sell their property at a significantly lower price.
Due to the delicate nature of short selling, this process can be lengthy and time consuming. A short sale must be carried out correctly in order to ensure that it is successful. A real estate attorney can make sure that the necessary documents are processed correctly, and ensure that the short sale is executed accordingly.
Once a short sale is complete, the results are beneficial to both parties. A successful short sale results in a release of the seller’s mortgage obligation, while avoiding a significant credit hit. Subsequently, the buyer is able to purchase a home at a relatively low price.
If you are considering a short sale, or have any questions regarding real estate transactions, call Blick Law Firm today to schedule a free 15-minute consultation with attorney Michael Blickensderfer.
Posted in Blog, Real Estate
Tagged foreclosure defense, home buying, real estate attorney, short sale, title
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Title Closing | Real Estate Closings | Home Buying
Recently, Infinity Abstract and Title held a public informational seminar that was hosted by Blick Law Firm. The seminar provided some great tips and educational information regarding real estate closings, and the expired 1099 deficiency waver law. Licensed Title Agent Debbie Macias engaged the audience with exceptional knowledge and advice, along with Certified Public Accountant, Kevin Krueger.
Infinity Abstract and Title’s Debbie Macias administered an educational discussion about what should be avoided to help ensure a smooth and successful real estate closing. While all problems cannot be anticipated, Debbie provided the audience with a helpful list of “Red Flags” to look out for in their transactions.
The “Red Flags” include:
- Divorce or Separation
- Bankruptcy
- Foreclosure
- Recent marriage of seller or buyer
- Liens or judgments against property owners
- Death of property owners
- Easements obtained or given since purchase of property
- Known encroachments
- Sellers or buyers that will not be present at closing
- Power of attorney
- Trusts
- Shared driveways
- Foreign sellers
- Guardianship or incompetence of seller
A real estate closing is the final step in the home buying process, it is important to be aware of the timeline of requirements that take place upon completion of the closing.
The buyer must first open an escrow account with a neutral third party to ensure that the buyer fully intends to complete the sale. The next five steps are necessary to protect the buyer’s interest in the home. These steps include: completing a title search, purchasing title insurance, the completion of a home and pest inspection, negotiation of closing costs, and finally locking the interest rate of the mortgage.
Once these steps are completed, it is necessary to consult a real estate attorney before moving forward with the purchase process. An experienced real estate lawyer is able to provide legal guidance, and can decipher the complex language involved in most closing documents. A real estate lawyer can also help to identify the “Red Flags” that can interfere with your closing, as well as deal with unexpected complications that may arise.
If you or a loved one is considering purchasing a home, call Blick Law Firm today at (888) 973-2776 to schedule a free 15-minute consultation with attorney Michael Blickensderfer. Think quick, call Blick!
Real Estate Seminar | Title Insurance | CPA
Infinity Abstract & Title will be hosting an informational seminar from 3 to 5 p.m., on Wednesday, February 19 at the Blick Law Firm’s previous headquarters, 4351 Gunn Highway in Tampa. Licensed Title Agent Debbie Macias, will be discussing ‘Red Flags’ to look out for during Real Estate transactions. Certified Public Accountant Kevin B. Krueger, will be providing information regarding the 1099 deficiency law that expired on 12/31/2013. The seminar will include a Q&A session, and there will be light food and refreshments served.
As a division of Blick Law Firm, Infinity Abstract & Title provides title insurance and escrow services to clients throughout the entire State of Florida.
What is Title Insurance?
Title insurance is a form of protection that is necessary when purchasing a new home or property. Unlike other forms of insurance that only protect against future loss or damage, Title Insurance protects against loss or damage produced by past events that can cause a failure or defect to the title.
A Title Company will conduct a search of public land records to discover anything that can potentially affect the title of the property. After this title search is complete, the buyer will receive Title Insurance. Some common issues that can affect the title of a property consist of:
- Improperly prepared deeds
- Open mortgages
- Wills
- Probate proceedings
- Outstanding judgments or
- Tax liens against the property or individuals
- Covenants and restrictions
- Easements
After a records search is conducted, many existing problems can still arise, and hidden hazards can still exist. Title Insurance will protect you against these potential problems and pay for any legal fees involved in defending a claim.
Real Estate Agents
Realtors and title companies are prohibited from giving legal advice without a license to practice law. However, a real estate lawyer is obligated by law to disclose legal options to the homebuyer. For security and peace of mind, it is important to be aware of legal options when purchasing a home. An experienced real estate attorney can provide needed legal advice, and can interpret jargon presented in Closing documents. An attorney can also distinguish problems with your purchase documentation, as well as take care of discrepancies that can emerge during the real estate purchase process.
When purchasing a new home, it is important to seek a title company that has an experienced real estate attorney to ensure that your investment is legal and secure. Unlike other states, the state of Florida does not require homebuyers to hire an attorney for a title closing. However, buying a home is a complex process that requires legal direction. A real estate agent alone is not sufficient in handling the legal matters and ethical standards that exist when purchasing a home.
Educate Yourself
A Real Estate Closing finalizes the home buying process. It is important to understand the timeline of requirements that take place in order to complete the Closing.
The first thing the buyer must do is open an escrow account with a neutral third party. The buyer will provide money that will be held in consideration of the purchase, ensuring that the buyer intends to fully complete the sale.
After the buyer opens an escrow account, there are five steps that must be followed in order to protect the buyer’s interest in the home. These steps include:
- Completing a Title search
- Purchasing Title Insurance
- Completing a Home Inspection and Pest Inspection
- Negotiating the Closing Costs; and
- Locking the Interest Rate of the Mortgage
It is important for the buyer to follow these steps upon completion of any Real Estate transaction, and it is advisable to seek legal counsel prior to moving forward with the purchase process.
At Blick Law Firm we provide title insurance and escrow services to clients throughout the entire State of Florida. Call us today, for a free consultation.
Hire a Real Estate Attorney | Home Buying | Title Insurance
Buying a home is a complex process and in order to ensure your future investment is a secure and legal, hiring a real estate attorney to handle the purchase of your home should be considered.
Many times a home buyer may seek counsel from a title agency or realtor. In fact, Florida does not require you to hire an attorney for a title closing like many states. While that may be the case in Florida, those using a real estate or title agent alone need to be aware of the risks involved.
The Law
A title company or realtor may not advise you legally regarding any matters related to your home purchase. The process of purchasing a home is complex and a company that you hire should be able to provide you with legal direction and abide by state ethical standards; these qualities cannot be upheld simply by a real estate agent.
What is Title Insurance?
Title insurance is a rarely understood protection necessary when purchasing a new home or property. Contrary to other forms of insurance that protect against future loss or damage, Title Insurance protects against past events that may cause loss or damage after the purchase of new property due to a failure or defect of the title.
For instance, when purchasing Title Insurance, the title company will conduct a search of public land records to discover potential matters affecting the title of the property. Common issues include: improperly prepared deeds, open mortgages, wills, probate proceedings, outstanding judgments or tax liens against the property or individuals, covenants and restrictions, and easements. After the records search, the buyer is then issued the Title Insurance.
While the records search conducted by the title company is generally exhaustive, many problems can still exist and affect the validity of the title. Disputes can still arise due to mistakes in the public record, previously undisclosed heirs claiming to own the property, and fraud…. These hidden hazards do exist, and Title Insurance will protect you against these potential problems and pay for any legal fees involved in defending a claim.
Real Estate Agents
Real estate lawyers are obligated by law to fully disclose legal options for the home buyer, unlike realtors or title companies that are prohibited from giving legal advice without a license to practice law. The comfort of knowing your best legal options when purchasing a home may be a big factor for overall security and peace of mind.
An experienced real estate attorney can provide professional legal advice, and interpret the very complicated language involved in most Closing documents. The attorney is also capable of identifying potential problems with your purchase documentation, and can save you the hassle of dealing with unexpected complications that may arise during the Real Estate purchase process.
It is important to not only seek a title company for protection when purchasing a new home, but also making sure that the title company has an experienced and competent real estate attorney.
A real estate lawyer that handles and serves clients in title services is able to take legal action as needed to protect clients from any future problems that may arise. An attorney can properly analyze your housing situation to handle any issues, insuring you and your loved ones a secure real estate closing for your new home.
Educate Yourself
A Real Estate Closing is the final step of the home purchase process, whereby the buyer and seller sign the papers to transfer the ownership of the home. In order to complete this final phase of the purchase process, it is important to understand the timeline of requirements that take place leading up to the Closing.
First, a buyer must open an escrow account with a neutral third party, whereby the buyer provides earnest money to be held in consideration of the purchase in order to demonstrate good-faith that the buyer fully intends on completing the sale.
Following the opening of an escrow account, the buyer then needs to take 5 necessary steps to protect their interest in the home. These 5 steps are as follows:
- Completing a Title search
- Purchasing Title Insurance
- Completing a Home inspection and Pest inspection
- Negotiating the Closing costs; and
- Locking the interest rate of the mortgage.
These steps are important in the completion of any Real Estate transaction, and many times it is important for the buyer to seek legal counsel prior to moving forward with the purchase process.
At Blick Law Firm we provide title insurance and escrow services to clients throughout the entire State of Florida. Call us today at 813-931-0840. Make an appointment for a free 15 minute consultation with attorney Michael Blickensderfer. Blick Law Firm seeks to help the hurting and those in need. Think quick, call Blick!
Short Sale | Real Estate Attorneys | The Short Sale Process
Trying to avoid foreclosure? A short sale may be your answer. Homeowners facing financial hardship have several options, but a short sale is a very common solution. What is a short sale? A short sale is an agreement between the seller and the lender to sell their property for an amount lower than the balance owed in order to relieve the seller of the mortgage obligation.
Unlike a foreclosure, a short sale may prevent and help you avoid a huge hit to your credit score that foreclosure may cause. Depending on the negotiated amount of the sale and the timeliness of past mortgage payments, a short sale may be a better alternative.
Did you know? Short sale participants can later purchase a home in a shorter time than those who foreclose on their property. In a short sale you can purchase after two years unlike in foreclosure it is after seven years.
A short sale can be completed by finding a buyer to purchase the home who is willing to pay current market value, and having the mortgage provider agree to the sale. Any shortage after the sale will then either be written off by the lender and an IRS 1099c is issued to the seller, or a deficiency remains which the lender may pursue to collect against the seller.
Changes were recently made to help streamline the short sale process including:
· An expedited short sale approach for borrowers most in need.
· Lenders will now have the power to quickly and easily qualify certain borrowers who are current on their mortgages for short sales.
· HAFA offers home owners and investors accessible solutions to the short sale of your home.
The short sale process can be complicated, and the lender may not be willing to negotiate. It is important to know that a real estate attorney can help negotiate the sale and terms with your mortgage lender and provide you peace of mind that your short sale is being handled by an accountable professional.
If you have legal questions regarding your short sale or you are considering your options, call Blick Law Firm today at (813) 931-0840 to schedule a free 15-minute consultation with attorney Michael Blickensderfer.
Real Estate | Title Closing Process | Real Estate Closing
A Real Estate Closing is the final step of the home purchase process, whereby the buyer and seller sign the papers to transfer the ownership of the home. In order to complete this final phase of the purchase process, it is important to understand the timeline of requirements that take place leading up to the Closing.
First, a buyer must open an escrow account with a neutral third party, whereby the buyer provides earnest money to be held in consideration of the purchase in order to demonstrate good-faith that the buyer fully intends on completing the sale.
Following the opening of an escrow account, the buyer then needs to take 5 necessary steps to protect their interest in the home. These 5 steps are as follows:
- Complete a Title search
- Purchase Title Insurance
- Complete a Home inspection and Pest inspection
- Negotiate the Closing costs; and
- Lock the interest rate of the mortgage.
These steps are important in the completion of any Real Estate transaction, and many times it is important for the buyer to seek legal counsel prior to moving forward with the purchase process. An experienced real estate attorney can provide professional legal advice, and interpret the very complicated language involved in most Closing documents. The attorney is also capable of identifying potential problems with your purchase documentation, and can save you the hassle of dealing with unexpected complications that may arise during the Real Estate purchase process.
If you or a loved one are considering purchasing a home and need advice on what to expect, call Blick Law Firm today at (813) 931-0840. Schedule a free 15-minute consultation with attorney Michael Blickensderfer. Think quick, call Blick!