Alternative Ways To Own Real Estate By Jeff Riddell If you’re ready to start your real estate investment career—or have already started and may be acquiring more properties—we need to talk about how to hold title. In other words, who should be the “grantee” in the deed you receive. The first choice, of course, is yourself, or you and your spouse if you are married. Most people take title to their properties in their own name when they are beginning their real estate investment careers because it is simple and cheap. You sign the purchase contract in your own name […]
Escrow Agreements At The Closing Table By Steven R. Greenberg Often overlooked at the real estate closing is the importance of a well-drafted escrow agreement for repairs. If the Seller has not completed the repairs pursuant to the Buyer’s notice of property defects or if an issue arises as part of the final walk-thru, the Buyer and Seller may agree to escrow funds with the closing agent for repairs to be completed after closing. Usually, the closing agent will throw together a very simple escrow agreement, or ask the REALTOR® to write an escrow agreement, which fails to deal with […]
A full-service practice dedicated to handling all aspects of real estate transactions and litigation, Berlin Law Firm, PA works with real estate agents, lending professionals, builders, developers, buyers and sellers to facilitate successful transactions. One of the region’s only firms focusing exclusively on real estate-related issues, the group distinguishes itself through its exceptional level of customer service.
We are all aware that the underwriting guidelines for purchase-money financing have become very restrictive due to the economic downturn and the subprime lending debacle. As difficult as it is to obtain financing in the current economic environment, purchase-money financing for condominiums has become particularly troublesome. This article will address some of the issues facing buyers of condominium units needing purchase-money financing.
Unless you live under a rock, you or someone you know has been affected by the process known as a short sale. Unfortunately, short sales have become a nightmarish process for the parties involved-the seller, buyer, attorneys, realtors, and short sale negotiation companies.
You can start investing in real estate at any age. If you are young and want to start the conventional way by purchasing a single family house or small rental property, build a team first—relationships are everything in real estate. If you are older and just getting started, you can take the approach I suggest in this article to adding real estate to your investment portfolio.
As a real estate professional you may have received inquiries from homeowners with regard to “foreclosure rescue” and “foreclosure fraud.” The following may help you better understand the implications of a “foreclosure-rescue transaction.”
The benefits of owning investment and rental real estate are pretty obvious: wealth building and cash flow. The time to buy is when prices are low. Now let’s expand on that with some tax talk.
Jumping into real estate investing without a plan can be painful. Biting off more than you can chew is one problem; panic instead of patience is another problem.
This article is a continuation of last month's article regarding areas of concern in an REO Counter-Offer Addendum typically used by banks in connection with the sale of a foreclosed (“Bank Owned” or “REO”) property.
Lora Bedford Law Office Of Lora L. Bedford, P.A. Attorney at Law By Lalaena Gonzalez-Figueroa Photography by Chad Spencer When Indiana native Lora Bedford discovered Sarasota, she knew she was on to something good. A graduate of the Florida State University College of Law, Lora went on to garner a coveted post-commencement position with the Florida Senate. A colleague invited her to her home in Sarasota, and Lora was hooked.
Representing A Buyer Purchasing A Bank Owned/REO Property By Steven R. Greenberg It should come as no surprise to you that there are a glut of foreclosed (“Bank Owned” or “REO”) properties on the market. Many Buyers are looking only for “foreclosed” or “short sale” properties to purchase since it is perceived by Buyers that these are the best bargains on the market. This article will focus on the Counter-Offer Addendum used by the banks in the sale of REO properties. It is critical that REALTORS® understand that the REO Counter-Offer Addendum supersedes all conflicting provisions of the Contract. There […]
Real Estate Investing By Jeff Riddell Andrew Carnegie said: More money has been made in real estate than in all industrial investments combined The big boys know all about it and have made fortunes for generations through real estate. Even the railroad barons of the 19th century knew that wealth was in real estate. When they built the transcontinental railroad in the 1860s, the government gave them 640 acres of land for each mile of track they built. They believed they could sell the land for millions as business was drawn to the railroad, and they were right. Real estate […]
Reverse Mortgages – A Primer By Steven R. Greenberg A “reverse” mortgage is a loan against the borrower’s home that does not need to be paid back as long as the borrower lives there. There are several ways to get the cash out of a home with a reverse mortgage: 1. As a regular monthly advance; 2. All at once, in a single lump sum of cash; or 3. As a combination of these payment methods. In order to qualify for a reverse mortgage, the borrower must be at least 62 years of age. Furthermore, the borrower must seek […]
With the wave of short sales in the current real estate market, it is difficult, if not impossible for a REALTOR® to not be involved in a short sale transaction. This article will address some of the issues when representing a Buyer or Seller in a short sale.
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Wednesday, July 1, 2009
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