BUYING PROPERTY IN PROBATE
Probate real estate has proven time and time again that it deserves a place amongst today’s best acquisition strategies. At the very least, investors who are able to acquire houses …
SELLER FINANCING
Seller financing can be a useful tool in a tight credit market. It allows sellers to move a home faster and get a sizable return on the investment. And buyers …
OWNER FINANCING
What Is Owner Financing? Owner or seller financing means that the current homeowner puts up part or all of the money required to buy a property. In other words, instead …
CONSIDERATIONS IN GIVING REAL ESTATE TO YOUR CHILDREN
Before the days of income and estate taxes, adult children often just moved into the family home after their parents died. Unfortunately, its not that simple anymore. There are several …
DECLATORY JUDGEMENTS
A declaratory judgment, also called a declaration, is the legal determination of a court that resolves legal uncertainty for the litigants. It is a form of legally binding preventive adjudication …
SECURITY DEPOSITS
A security deposit is an amount of money ranging from hundreds to thousands of dollars that a tenant pays a landlord or property manager at the beginning of a lease …
6 SIGNS OF A GREAT RENTAL PROPERTY INVESTMENT
Rental property investing will require prospective buyers to consider a number of factors, not the least of which are outlined below. A good rental property is contingent on both tangible …
SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENTS
What is a Subordination, Non-Disturbance and Attornment Agreement, and Why Do I Need One? While most commercial leases contain a requirement that the tenant will execute a “Subordination, Non-Disturbance and …
HOW TO FIND AND BUY THE HOME OF YOUR DREAMS
By Ted James How to Find and Buy the Home of Your Dreams Whether its your first or fifth home purchase, buying a new place is always exciting. At the …
MEDICAID, MEDICARE, AND REAL ESTATE
One of the most misunderstood aspects of Medicaid is the look back period for asset transfers and how that affects eligibility for elderly people in need of long-term healthcare. Lets …
WHAT IS SUBROGATION?
What Is Subrogation? Subrogation is a term describing a legal right held by most insurance carriers to legally pursue a third party that caused an insurance loss to the insured. …
TRANSMUTATION AGREEMENT
A transmutation agreement is a postnuptial agreement that changes the character of the spouses property from community to separate, or vice versa. It may be used to change the character …
PREPAID ITEMS VS CLOSING COSTS
What does prepaid mean? Prepaid items are exactly what the name implies – payments made in advance of the monies due to obtain your new loan. These amounts are often …
SPECIFIC PERFORMANCE
Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific action, such as to complete the …
SELLER SETTING REALTOR COMMISSIONS MAY BE A THING OF THE PAST – THE LAWSUIT THAT MAY CHANGE THE WAY REALTORS ARE PAID
A recently filed class-action antitrust suit against the National Association of Realtors, among other major real estate players, could spell a serious shakeup for the industry. If the plaintiffs win …
DISCLOSURE THAT MUST BE MADE BY FLIPPERS
When you sell a property, you’re required to disclose information about its condition that might negatively affect its value. If you willfully conceal such information, you could be convicted of …
EQUITABLE INTEREST IN REAL ESTATE
Equity is a concept of rights distinct from legal (that is, common law) rights; it is (or, at least, it originated as) “the body of principles constituting what is fair …
FINANCIAL FRAUD
The following examples of Financial Institution Fraud Investigations are written from public record documents on file in the courts within the judicial district where the cases were prosecuted. California Woman …
MONTH TO MONTH TENANCY
Benefits of Month to Month Rentals for Tenants Sometimes tenants need a place to stay but do not want a long term commitment. For these tenants, finding a landlord who …
LEGAL PROTECTION PLAN FOR YOUR HOME SALE OR PURCHASE
FLAT FEE LEGAL PROTECTION PLAN FOR YOUR HOME SALE OR PURCHASE Have an attorney review your documents before signing or if you do not have an agent, our office can …
EASEMENTS
A. WHAT IS AN EASEMENT? An easement is the legal right of a non-owner to use a specific part of another persons land for a specific purpose. B. WHAT ARE …
WHAT IS A RIGHT OF FIRST REFUSAL?
Imagine being able to make an offer on a house before any other interested home shoppers can even have a look-see. If you have a right of first refusal negotiated …
COVENANTS THAT RUN WITH REAL ESTATE
Real Estate Covenants Law and Legal Definition A covenant is a promise in a written contract or a deed of real property. There are different types of covenants, such as …
REAL ESTATE AGENT VS. REAL ESTATE LAWYER
The Difference Between a Real Estate Agent and Lawyer If you ask a realtor whether to hire a real estate agent or a lawyer to buy a house, you can …
REVERSE MORTGAGES
If you are 62 or older and want money to pay off your mortgage, supplement your income, or pay for healthcare expenses you may consider a reverse mortgage. It allows …
GIFT TAX
The U.S. federal gift tax is imposed on cash and properties that individuals give to others. It’s paid by the donor, not the beneficiary of the gift, although the Internal …
MISSOURI ABANDONMENT LAW
ABANDONED PROPERTY Landlords are often eager to remove abandoned property of a tenant who appears to have abandoned a leased premises. Missouri law provides a procedure for removing a tenants …
CAPACITY TO SIGN A REAL ESTATE CONTRACT
When it comes to legally binding agreements, certain people are always considered to lack the legal ability (or “capacity”) to contract. As a legal matter, basically they are presumed not …
WHAT IS APPRECIATION?
What Is Appreciation? Appreciation, in general terms, is an increase in the value of an asset over time. The increase can occur for a number of reasons, including increased demand …
WHAT IS CROWDFUNDING?
Crowdfunding has become a loaded term, meaning so much more than just raising money from the public. In fact, it means different things to different people. New and old terms …
EARNEST MONEY DEPOSITS
Real estate has its fair share of horror stories. One that keeps both first-time homebuyers and seasoned pros up at night is the thought of sellers walking away with their …
CHARACTERISTICS OF A SUCCESSFUL REAL ESTATE INVESTOR
It turns out that there are best practice guidelines that successful real estate investors follow, and you can follow them, too. People who meet their investment goals adhere to principles …
ROOFING AND INSURANCE
Insurance companies view roofs as one of the most important parts of a home. Roofs protect homes from the elements and can prevent home insurance claims. If you have a …
WHAT IS A WRAP AROUND MORTGAGE?
“What is a wrap-around mortgage, and who is it good for?” A wrap-around mortgage is a loan transaction in which the lender assumes responsibility for an existing mortgage. For example, …
WHAT IS GENTRIFICATION?
What is Gentrification? Gentrification is a general term for the arrival of wealthier people in an existing urban district, a related increase in rents and property values, and changes in …
TOP 6 FACTORS AFFECTING RESIDENTIAL REAL ESTATE VALUATION
Top 6 factors affecting real estate valuation Factors to consider when pricing a home are historic sales price, quality of the neighborhood, the market, nearby features and the size, appeal, …
TOP 10 THINGS AFFECTING REAL ESTATE
TOP 10 THINGS AFFECTING REAL ESTATE 1. Interest rates & The Economy The Federal Reserve’s plan is to nudge interest rates back to historically normal levels. Concurrently, the passing of …