Category Archives: Real Estate

Foreclosure and Short Sale

Posted on October 24, 2012 by Blick Law

Foreclosure is the process by which a lender attempts to recover the unpaid balance of a loan after the borrower discontinues payments. Foreclosure allows the lender to force a sale of the home in order to satisfy the remaining balance of the loan.

In Florida, if you have received a foreclosure summons complaint, you have 20 days to answer in order to avoid a default judgment being issued against you. Once your home is threatened by foreclosure, it is important to seek legal advice and explore what options may be available.

For many homeowners, a short sale can be a helpful tool when trying to avoid foreclosure. A short sale is an agreement by a mortgage lender to sell property for an amount lower than the balance owed in order to relieve the buyer of the mortgage obligation. Depending on the negotiated amount of the sale and the timeliness of past mortgage payments, a short sale may help avoid the huge hit to your credit score that foreclosure causes. Additionally, short sale participants can later purchase a home in a shorter time than those who foreclose on their property.

Though a Short Sale may be an available option to avoid Foreclosure, it is a complicated process, and sometimes the lender may not even be willing to negotiate with you. It is important to consult a real estate attorney  who can offer you peace of mind that your potential foreclosure is being defended by an accountable professional.

If you or a loved one are being threatened by Foreclosure or have legal questions regarding a Short Sale or other potential legal remedies, call Blick Law Firm today at (813) 931-0840. Schedule a free 15-minute consultation with attorney Michael Blickensderfer. Think quick, call Blick!

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Process of Purchasing a Home

Posted on October 16, 2012 by Blick Law

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 on an escrow account the buyer then needs to take the necessary steps to protect their 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.

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 is 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!

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What is a Will? And do I need one?

Posted on October 5, 2012 by Blick Law

A Will is a legal document that provides direction for how a decedent intends to distribute their assets upon their death. Many times, people avoid considering the different options available through probate out of apprehension of thinking about their own death.

When a person dies without a will they are said to have died intestate. The State will then follow the intestacy guidelines governing how to distribute intestate assets to heirs based on relation and bloodline.

Realistically, executing a Will for the disposition of one’s assets is an important part of planning the future of your estate. It is always better to have your intentions memorialized in an executed Will than have the State determine the disposition of your assets. Probate is the process of identifying and gathering the assets of the deceased person, paying their debts, and distributing the assets to his or her beneficiaries.

Many considerations must be made prior to setting forth the distribution of one’s assets following their death, and often times other legal documents are more suitable for particular situations. It is important to discuss your situation with an experienced probate attorney, and determine what is best for you be it a Will or Trust instrument.

If you or a loved have concerns or questions about the future of your estate, call Blick Law Firm today. Schedule a free 15-minute consultation with attorney Michael Blickensderfer at 813-931-0840. Think quick, call Blick!

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Tampa Attorneys

Posted on October 4, 2012 by Blick Law

Blick Law Firm offers a wide array of legal services to help serve the public including Personal Injury, Criminal Law, Real Estate, and Bankruptcy; we also provide help in Family and Probate Law matters. As a result, our blog topics range from auto accidents to short sales.

Grounded in Christian values, Blick Law Firm strives to not only meet the legal needs of its clients and their families, but also to provide physical and emotional support. We treat each client equally and with the utmost respect; offering high-quality legal representation and counsel to those who need us most. We pride ourselves on our motto of Helping the Hurting, and reach out to the community in a variety of ways.

Our website Blicklawfirm.com provides useful information on our blog that may be helpful in addressing your legal concerns; additionally, we offer details about our services aimed at providing reassurance that your legal needs will be handled effectively. With over 25 years of knowledge and practice, including a broad range of trial and courtroom experience, we will work hard for you.

If you or a loved one have legal concerns and are seeking quality legal representation, call Blick Law Firm today at (813) 931-0840. Schedule a free 15-minute consultation with attorney Michael Blickensderfer. Think quick, call Blick.

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Real Estate: IRS rule on excluding gain of home sale

Posted on September 18, 2012 by Blick Law

If you have made a capital gain from the sale of your main home, you may be eligible to exclude all or part of the gain from your income. The Internal Revenue Service issued a pamphlet, Publication 523, Selling Your Home, which provides directions, rules, and requirements for filing capital gains when selling your home. The pamphlet gives thorough instructions on how to determine whether or not you qualify for the exclusion.

The general requirements include:

  • The home sold is considered your main home – “main home” is defined in the pamphlet as the home you lived in the majority of the year whether it is a house, condo, cooperative apartment, mobile home, or houseboat.
  • You have lived in the home at least two of the past five years
  • Additionally, you are allowed to exclude up to $250,000 of the gain on the sale of your main home if you file as an individual; or up to $500,000 if filed jointly.

Generally, the income exclusion is allowed if these requirements are met unless: you have excluded the gain from a prior home within two years prior of the current sale; you only sold the land on which your main home is located, but not the house itself, or; you sold the remainder interest in your home to a related person.

If you or a loved has legal concerns regarding the sale of your home call Blick Law Firm today at (813) 931-0840. Schedule a free 15-minute consultation with attorney Michael Blickensderfer. Think quick, call Blick.

For more information regarding the IRS Publication 523 visit: www.irs.gov/pub523.

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Foreclosure Auctions and Short Sales: Common Buyer Mistakes

Posted on September 7, 2012 by Blick Law

During the growth of the foreclosure problem in Florida, homebuyers across the State have been abundantly utilizing Foreclosure Auctions and Short Sales to purchase homes and property for costs well below market value.

When purchasing a home, especially in short sale or auction, it is important to inspect the premises and discover any defects or structural deficiencies prior to closing on the home. Many times, homebuyers who purchase a short sale ignore defects and property deficiencies because the bargain is too good to pass up. Often, this creates problems that end up costing more than the bargain is worth.

Homebuyers tend to become so passionate about purchasing the real estate at such a lower cost that they refuse to accept the risks that can arise. Common mistakes include:

  • Ignoring property problems – Severe problems with the property may exist due to neglect, mold exposure, termites, and even vandals. Structurally, these homes may be in severe disrepair and even uninhabitable.
  • Ignoring legal and Insurance Information- Information that identifies any flood exposure or renovations and repairs made on the home is available to homebuyers and should be utilized to identify possible flaws and dangers that may exist on the property.
  • Failing to have the home inspected – Many buyers are so anxious to proceed with the acquisition of the property that they fail to have an adequate inspection of the premises conducted. Later, latent defects can become huge problems and the homeowner may incur exorbitant costs to repair the damages.

If you or your family are purchasing a home and have concerns regarding short sales or foreclosure auctions, call Blick Law Firm today at (813) 931-0840 and schedule a free 15-minute consultation with attorney Michael Blickensderfer.

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