Monthly Archives: April 2017

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Real Estate Lawyer Explains Utah Foreclosure Laws

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Utah allows for both in court or judicial and out of court or non judicial foreclosures. As in most states where both processes are used, the vast majority of foreclosures are non judicial. The language in most mortgages or deeds of trust allow for this with a power of sale clause.

In the absence of the power of sale clause judicial or court process must be followed. This takes a lot longer. In judicial foreclosure, the bank must file a complaint with the court against the homeowner. They do this to get a decree of sale from the judge. When the court determines that the borrower is in default, they will give the homeowner a period of time in which they can come up with the amount that is past due, plus costs and attorney fees. If the homeowner can do this in that time frame. If the homeowner can do this in that time frame the can avoid a foreclosure and keep their home. If they do not come up with that money in the allotted time, an auction will be held and the property will be awarded to the highest bidder.

Most homes that go to auction in Utah and most other states as well, are not bid on because so much is owed on the home, that it is not a good enough deal for the bidders. In this situation, the home is awarded to the lender. In other words, it goes back to the bank, and they have to try to sell it again. This is time consuming and expensive for the bank.

The vast majority of foreclosures in Utah are taken care of non- judicially. That means that there is a power of sale clause in the mortgage or deed of trust.

In such an out of court foreclosure, a notice of sale must be published for three consecutive weeks in a local paper. The final advertisement in this series must be placed a minimum of 10 days prior to the scheduled sale date. It can not be placed any further out from the sale date than thirty days.

This same notice of sale must be posted two other places, no later than twenty days in front of the scheduled sale date.

The required placing of these public postings of notice of sale are at the county recorders office in the county where the home is located and on an easy to find place on the home itself.

This notice of sale must contain the place, date, and time of the scheduled sale. This place is always on the courthouse steps and the time is always between 8 am and 5 pm.

Home owners do have a right of redemption period Utah. This is a time when they can legally re-purchase that home after it has been sold at the trustee's sale. In Utah, a judge can even extend that right of redemption period. This almost never happens, but it does make the former owner feel like he could get his house back, if he wanted to.

Deficiency judgments are allowed in Utah. This gives the bank the right to pursue the home owner, for any amount of difference between what the home sold for at auction, and what was owed on the loan.

In Utah, the bank even has the right to seize the property until they have received this amount of money. I have never heard of this occurring, but it is allowed.

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Real Estate Attorney or Lawyer's Role When Selling FSBO

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The worker's compensation program in Utah is managed by the Labor Commission Division of Industrial Accidents in Salt Lake City. The program offers protection for employees injured while on the job as well as protection for employers from significant financial risk due to accidents in the workplace. Workers may be eligible for payments for lost wages while disabled and compensation for medical costs.

Most employers in Utah are required to purchase workers' comp insurance. Exceptions may include agricultural laborers, real estate brokers, domestic workers and insurance brokers. Federal employees are covered separately under Federal law. The cost of the insurance is paid for by your employer and must not be deducted from your paycheck.

If you have been injured on the job, you will need to who your employer has selected for their insurance carrier. This information must be posted by your employer so that you can see who his workers comp insurance company is, what their address is and what their phone number is. If you are having difficulty finding this information at work or from your employer, call the Labor Commission's Policy Section at 801-530-6842.

When you are injured at work you should notify your supervisor and employer immediately. Your employer must the complete an Employer's First Report of Injury or Illness" (Form 122) with 7 days of learning of your accident. You should get a copy of this report which will describe your rights and responsibilities.

Workers compensation payments in Utah cover many items. Workers are eligible for medical care payments. Hospital bills, prescription costs and other reasonable medical expenses are covered. Employees are eligible for temporary total compensation payments. This is wage replacement for time missed from work as approved by a doctor and as a result of a workplace injury. Workers are eligible for reimbursement for travel expenses to and from authorized medical treatment. This does not include travel to pharmacies. Dependents of employees that die from an accident in the workplace are eligible for $8,000 for funeral and burial costs.

Benefit payments are set to 2/3rds of the workers average gross weekly pay prior to the incident. The payments are capped at a maximum which cannot exceed Utah's maximum average weekly wage. These payments are not taxed but child support payments can be deducted from the amount.

If you move out of Utah you are still entitled to benefits under workers comp. There are some important considerations regarding medical treatment outside of Utah. If you want to continue to receive treatment you must complete an Employee's Notification of Intent to Leave State (Form 044). Your doctor must also submit an Attending Physician's Statement (Form 043). You can get these forms on the Labor Commission website.

If your claim is denied, you should talk with your employer to see what the reasons were for the denial. If you have difficulty communicating with your employer and need another resource for information, call the Labor Commission and staff at the Division of Industrial Accidents will be able to assist you.

While workers in Utah are not required to have an attorney during the claim process, the law can be complicated and it may be in the best interest of the worker to consult with an attorney.

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real estate power of attorney Salt Lake City Utah 84199

Real Estate Lawyer Explains Utah Foreclosure Laws

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Utah Real Estate Lawyers

As attorneys who regularly practice in real estate law, the law firm of Guardian Law has represented real estate investors, title companies, banks, homeowners, business, property management companies, and other parties in all types of real estate matters.

Our attorneys know Utah real estate - whether you are buying and selling a piece of real estate, or getting ready to go vertical on development . . . if you need to know the applicable laws, you need to call our office. We understand state and local real estate regulations and ordinances and their practical applications. We know how to successfully challenge or defend land use and zoning decisions in the administrative law arena. Jim Balmforth is an attorney who knows the law and will fight for your rights.

At Guardian Law we help real estate investors, owners, and others protect what is rightfully belongs to them and create new strategies to maximize value, even in the current economy.

We represent clients in matters covering the full range of real estate law including:

- Purchase and sale agreements

- Foreclosures

- Evictions

- Litigation (Lawsuits)

- Landlord Representation

- Commercial leases and negotiations

- Title opinions and insurance

- Mortgages and foreclosures

- Financing

- Land use and zoning

- Landlord/tenant issues

- Owner associations

- Commercial and residential real estate closing services

- Construction law

- And other cases

Our highly trained staff and attorneys, along with our professional service, we can help you achieve your business and financial objectives. When it comes to real estate, we help our clients succeed.

We have represented commercial real estate owners in vicious lawsuits; we still represent property owners in California, Nevada, and Utah.

To Speak with a licensed attorney regarding your specific real estate, foreclosure, or eviction law question:

Call Now: 801-676-5506

Attorneys in our office include: Steven Rush, Esq. Michael Anderson, JD James Balmforth, Esq. Greg Christiansen, JD You will be assured that when we begin working with you on a legal matter, we will personally address all of your concerns. We promise you the highest degree of professionalism, integrity and results.

You can contact us through e-mail by clicking here. Or you can contact us via telephone: (801) 676-5506 in the Salt Lake City area Or you can contact us Toll Free: 1-800-564-2707 if you are outside the Salt Lake City area. Or you can come in and visit with us: 8833 South Redwood Road, West Jordan, Utah 84088. If an attorney is available, one will meet with you immediately. If you can, please schedule an appointment before stopping by so we can be sure to meet with you and give you the time you need.

MIchael Anderson, an attorney with the firm is trained in real estate law. Jim Balmforth has represented hundreds of homeowners over the years, including stopping foreclosure, suing banks if necessary, and protecting land owners. Mr. Balmforth regularly practices in real estate law. He has represented clients in cases involving disputing property tax increases, changes of zoning, drafting condominium declarations, CC&Rs, condo associations and much more. Steven Rush, Esq. has worked in private practice and is able to assist you with your Utah real estate case. Steven has reviewed commercial leases, residential leases and been involved in property transfers and review loan modification and advised on large closings. Whether your case involves foreclosure, suing a lender, your rights under a promissory note and deed of trust or another part of Utah Real Estate Law -- you'll want Steven on your side. Steven is a hard working lawyer who wants to win your real estate case, whether it is through settlement or litigation, Steven is a winning attorney you want on your side.

All of our attorneys have worked for years as attorneys in the States of Utah, Nevada, and California, handling many real estate cases. Today, our practice is primarily in Salt Lake City, West Jordan, Utah and surrounding areas, from Ogden, Utah to Provo, Orem and Spanish Fork.

Attorneys speak English and Spanish in our office. If you or a member of your family needs the services of an experienced real estate law attorney, please contact us at the Law Firm of Guardian Law, PLLC -- call 801-676-5506 now. We are committed to helping you protect yourself, your real estate, and your other assets. Home Contract Law Adoption Law Child Custody Law Business and Commercial Law Real Estate Law Bankruptcy Law Personal Injury / Auto Accidents

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Real Estate Attorney for Real Estate Investors

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The worker's compensation program in Utah is managed by the Labor Commission Division of Industrial Accidents in Salt Lake City. The program offers protection for employees injured while on the job as well as protection for employers from significant financial risk due to accidents in the workplace. Workers may be eligible for payments for lost wages while disabled and compensation for medical costs.

Most employers in Utah are required to purchase workers' comp insurance. Exceptions may include agricultural laborers, real estate brokers, domestic workers and insurance brokers. Federal employees are covered separately under Federal law. The cost of the insurance is paid for by your employer and must not be deducted from your paycheck.

If you have been injured on the job, you will need to who your employer has selected for their insurance carrier. This information must be posted by your employer so that you can see who his workers comp insurance company is, what their address is and what their phone number is. If you are having difficulty finding this information at work or from your employer, call the Labor Commission's Policy Section at 801-530-6842.

When you are injured at work you should notify your supervisor and employer immediately. Your employer must the complete an Employer's First Report of Injury or Illness" (Form 122) with 7 days of learning of your accident. You should get a copy of this report which will describe your rights and responsibilities.

Workers compensation payments in Utah cover many items. Workers are eligible for medical care payments. Hospital bills, prescription costs and other reasonable medical expenses are covered. Employees are eligible for temporary total compensation payments. This is wage replacement for time missed from work as approved by a doctor and as a result of a workplace injury. Workers are eligible for reimbursement for travel expenses to and from authorized medical treatment. This does not include travel to pharmacies. Dependents of employees that die from an accident in the workplace are eligible for $8,000 for funeral and burial costs.

Benefit payments are set to 2/3rds of the workers average gross weekly pay prior to the incident. The payments are capped at a maximum which cannot exceed Utah's maximum average weekly wage. These payments are not taxed but child support payments can be deducted from the amount.

If you move out of Utah you are still entitled to benefits under workers comp. There are some important considerations regarding medical treatment outside of Utah. If you want to continue to receive treatment you must complete an Employee's Notification of Intent to Leave State (Form 044). Your doctor must also submit an Attending Physician's Statement (Form 043). You can get these forms on the Labor Commission website.

If your claim is denied, you should talk with your employer to see what the reasons were for the denial. If you have difficulty communicating with your employer and need another resource for information, call the Labor Commission and staff at the Division of Industrial Accidents will be able to assist you.

While workers in Utah are not required to have an attorney during the claim process, the law can be complicated and it may be in the best interest of the worker to consult with an attorney.

Real Estate Lawyers are standing by for your telephone call !

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real estate law office Salt Lake City Utah 84189

Real Estate Attorneys, Lawyers & Law Firms

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As a landlord with my own personal rental properties, and as a property manager for some of my investor clients, I see all kinds of expenses that can arise without warning in the rental world. Vacancies, repairs, evictions and location all play a part in the amount of money that an investor will need to have on hand in order to make the rental a viable venture. Planning for a rainy day is an essential component in the success of any real estate investment.

Vacancies

The average vacancy rate in the state of Utah for 2017 was 5.5%. However, as recently as 2014, that figure was as high as 8.9%. That means that for every year that a property is used as a rental, there is a high probability that it will stand vacant for at least 1 month. As we are all aware, the mortgage payment is still due whether the rent is being paid or not, so there better be something in the piggy bank to bridge the gap.

Even when the rental market is relatively strong, there is always the chance that you will end up with a tenant that stops paying. On the front end, potential deadbeat tenants can be avoided by doing a thorough background check. Run a credit check to find out their payment history and if there is a pattern of broken commitments. Obtain the phone numbers of references, employers and past landlords, and call them. On the back end, you can protect yourself by collecting the first month's rent, a deposit, and the last month's rent at the time the lease agreement is signed. That way, if a tenant does stop paying, you have at least a month of reserves (provided by them) to get them out of the property.

Evictions

The eviction process in the state of Utah is a four-step process:

a.) First, the landlord must serve the tenant with an eviction notice (also known as a "Notice to Quit" or "Notice to Vacate."

b.) If the notice is ignored, the landlord files a lawsuit and the tenant is served with a court summons and complaint.

c.) The judge will rule either in favor of the landlord or tenant after the case is presented.

d.) If the ruling is in favor of the landlord, the court will issue an "Order of Restitution" which directs the sheriff to forcibly remove the tenant from the premises.

The cost associated with an eviction will vary depending on if lawyers are involved and whether or not the eviction is disputed by the tenant. You can find more information at utcourts.gov/howto/landlord [http://utcourts.gov/howto/landlord].

Repairs

The repairs necessary to keep a property in working order seem to be directly proportionate to its age. I have a town home rental that was built in 1997, and the repairs have been limited to relatively simple things like toilets and faucet aerators. However, one of my clients purchased a home built in the late 60's, and I have seen them replace the air conditioning unit, rehab the furnace, fix the fireplace flu, repair the sprinklers, and patch the leaky roof (all in the last 2 years). Needless to say, get a comprehensive inspection of all the home's systems before closing on the purchase. You'll be glad you did. However, there is no such thing as the maintenance-free home, so plan on having some reserves to be able to pay the handyman.

Location

The amount of rent you can charge will be dictated by the area you are in. Additionally, if you rent in low-income areas, you can expect the tenant turnover to be much higher than in high-income areas. For myself and the clients I work with, a lease term of 1-year is minimum when signing an agreement. Recently, in a high-end neighborhood on the east side of Salt Lake County, we had a couple sign a 2-year agreement (with an expressed interest in staying even longer than that). Choose your location wisely - you'll be glad you did. It will lead to fewer vacancies, and therefore the need for smaller cash reserves.

Remember, if you run out of money, you'll be out of business in a heartbeat. While "getting in the landlord game" can be relatively easy with decent credit and a down payment, it is only the beginning. Go in with your eyes open, and you won't be taken by surprise.

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Real Estate Lawsuits in Utah

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Ogden Valley in Utah is the most picturesque place on the earth. If you are a lover for raw natural beauty then this valley has a lot to offer you. Living in the lap of nature is a divine experience. This place is really perfect for nature lovers. It has a natural charm that has been untouched by man's exploitation of his surroundings. It is free from pollution since most part of this valley is rural with typical mountain community. Commercial zoning is very little. You can either live or vacation in this mountainous region. Snow basin real estate consultants can help you acquire property in this area. However, if you are considering it as a tourist destination, you should hire the services of Ogden Utah Lodging.

Information about the Valley

The valley is centrally located between Snow Basin, Powder Mountain and Wolf Creek, Utah. It has three townships renowned for snow sports, music concerts, biking, hiking and dining. It is also famous for skiing. Talented tri-athletes participate in huge numbers for snow sports competition. This place is perfect for a vacation. If you are thinking of investment or buying a second home then Powder Mountain real estate can be of great help. They have thorough knowledge of this place. When you live in a place for 20 years, you know every nook and corner of it. This experience serves as an advantage and you can expect the best advice.

Tips to Hire Ogden Valley Utah Real Estate Consultant

There are some features that you must consider while hiring a real estate consultant. In this article, we share some tips to help you make the right decision.

* The real estate consultant should be forthright in his approach. He should be honest, diligent and fair in his dealings. Exaggerating facts, over-selling, miss-selling and inflating the rates are unfair business practices. Stay away from such realtors. It is easy to identify them. All you need is a little presence of mind and carefulness. Pay them a visit personally to find out their traits and qualities.

* Ogden Valley real estate consultant possesses great knowledge about the area. It usually comes with experience and may be extensive if the realtor is a local. Someone who has lived around the valley or city will know more about the place than an outsider will.

* The realtor should be thorough with legal framework. Ideally, he must appoint a lawyer for preparing the property agreement. Ensure that the paperwork is in place, if required get it checked by a lawyer.

* The broker must possess a valid license for trading in real estate/property. This pre-requisite will protect you in case there is a discrepancy. Keep these tips in mind while hiring Ogden valley Utah real estate.

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Utah Real Estate Lawyer - When Renting Out Your Property, How Much Should You Keep in Reserves?

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Utah allows for both in court or judicial and out of court or non judicial foreclosures. As in most states where both processes are used, the vast majority of foreclosures are non judicial. The language in most mortgages or deeds of trust allow for this with a power of sale clause.

In the absence of the power of sale clause judicial or court process must be followed. This takes a lot longer. In judicial foreclosure, the bank must file a complaint with the court against the homeowner. They do this to get a decree of sale from the judge. When the court determines that the borrower is in default, they will give the homeowner a period of time in which they can come up with the amount that is past due, plus costs and attorney fees. If the homeowner can do this in that time frame. If the homeowner can do this in that time frame the can avoid a foreclosure and keep their home. If they do not come up with that money in the allotted time, an auction will be held and the property will be awarded to the highest bidder.

Most homes that go to auction in Utah and most other states as well, are not bid on because so much is owed on the home, that it is not a good enough deal for the bidders. In this situation, the home is awarded to the lender. In other words, it goes back to the bank, and they have to try to sell it again. This is time consuming and expensive for the bank.

The vast majority of foreclosures in Utah are taken care of non- judicially. That means that there is a power of sale clause in the mortgage or deed of trust.

In such an out of court foreclosure, a notice of sale must be published for three consecutive weeks in a local paper. The final advertisement in this series must be placed a minimum of 10 days prior to the scheduled sale date. It can not be placed any further out from the sale date than thirty days.

This same notice of sale must be posted two other places, no later than twenty days in front of the scheduled sale date.

The required placing of these public postings of notice of sale are at the county recorders office in the county where the home is located and on an easy to find place on the home itself.

This notice of sale must contain the place, date, and time of the scheduled sale. This place is always on the courthouse steps and the time is always between 8 am and 5 pm.

Home owners do have a right of redemption period Utah. This is a time when they can legally re-purchase that home after it has been sold at the trustee's sale. In Utah, a judge can even extend that right of redemption period. This almost never happens, but it does make the former owner feel like he could get his house back, if he wanted to.

Deficiency judgments are allowed in Utah. This gives the bank the right to pursue the home owner, for any amount of difference between what the home sold for at auction, and what was owed on the loan.

In Utah, the bank even has the right to seize the property until they have received this amount of money. I have never heard of this occurring, but it is allowed.

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good real estate lawyer Cottonwood Heights Utah 84171

Real Estate Lawyer Explains Utah Foreclosure Laws

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Utah allows for both in court or judicial and out of court or non judicial foreclosures. As in most states where both processes are used, the vast majority of foreclosures are non judicial. The language in most mortgages or deeds of trust allow for this with a power of sale clause.

In the absence of the power of sale clause judicial or court process must be followed. This takes a lot longer. In judicial foreclosure, the bank must file a complaint with the court against the homeowner. They do this to get a decree of sale from the judge. When the court determines that the borrower is in default, they will give the homeowner a period of time in which they can come up with the amount that is past due, plus costs and attorney fees. If the homeowner can do this in that time frame. If the homeowner can do this in that time frame the can avoid a foreclosure and keep their home. If they do not come up with that money in the allotted time, an auction will be held and the property will be awarded to the highest bidder.

Most homes that go to auction in Utah and most other states as well, are not bid on because so much is owed on the home, that it is not a good enough deal for the bidders. In this situation, the home is awarded to the lender. In other words, it goes back to the bank, and they have to try to sell it again. This is time consuming and expensive for the bank.

The vast majority of foreclosures in Utah are taken care of non- judicially. That means that there is a power of sale clause in the mortgage or deed of trust.

In such an out of court foreclosure, a notice of sale must be published for three consecutive weeks in a local paper. The final advertisement in this series must be placed a minimum of 10 days prior to the scheduled sale date. It can not be placed any further out from the sale date than thirty days.

This same notice of sale must be posted two other places, no later than twenty days in front of the scheduled sale date.

The required placing of these public postings of notice of sale are at the county recorders office in the county where the home is located and on an easy to find place on the home itself.

This notice of sale must contain the place, date, and time of the scheduled sale. This place is always on the courthouse steps and the time is always between 8 am and 5 pm.

Home owners do have a right of redemption period Utah. This is a time when they can legally re-purchase that home after it has been sold at the trustee's sale. In Utah, a judge can even extend that right of redemption period. This almost never happens, but it does make the former owner feel like he could get his house back, if he wanted to.

Deficiency judgments are allowed in Utah. This gives the bank the right to pursue the home owner, for any amount of difference between what the home sold for at auction, and what was owed on the loan.

In Utah, the bank even has the right to seize the property until they have received this amount of money. I have never heard of this occurring, but it is allowed.

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best lawyers West Valley City Utah 84170

Real Estate Attorneys, Lawyers & Law Firms

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Prices of homes for sale in Salt Lake City Utah significantly declined in 2008. On average, Charleston area home values are about 15% lower compared to 2008. The lower property values have caught the attention of international and local home buyers searching for amazing deals on Charleston properties. If you want to find a great deal on home in the Charleston area you are not alone. The best priced homes in areas like Mount Pleasant and downtown Charleston are receiving multiple offers a few days after listings for sale on MLS.

The combination of truly historic market conditions and the media hype have created both risks and opportunities for today's home buyers. There are a few things you can do to take advantage of the market and avoid the many pitfalls.

First, do your homework. Research Charleston real estate online and find a Charleston real estate agent to show you houses and neighborhoods. Your real estate agent must understand your neighborhood and home preferences. Once you narrow your home search and target your top 5 neighborhoods in Charleston your real estate agent should give you recent market reports for each neighborhood, provide homeowners association documents and send new home listing updates.

Second, you must be pre-approved for a mortgage and have the necessary down payment. If you are not yet in a position to buy find out why and fix the problems. If you have a home to sell before you can take advantage of the current buyer's market selling your home should be your first priority. Sell stocks and other assets that will need to be liquidated to have the funds ready to purchase a home.

Third, you need to have realistic expectations. If you want to find a great deal on a home in Charleston you should be willing to make some minor repairs and updating. Foreclosures or bank owned properties in Charleston often require the new homeowners to make substantial repairs after closing. If you are buying a "short sale" in Charleston, plan on the closing taking at least 90 days after the contract has been ratified. Banks negotiate, approve and sometimes reject real estate contracts to purchase both short sale and bank owned properties. Again, your Realtor will be able to estimate when your closing should take place.

Finally, do not get discouraged. Even if your offer is the first one submitted on a home the sellers may receive more favorable offers from other buyers and reject yours. It is often necessary to submit offers to purchase multiple homes for sale in Charleston to get a great deal. Some of the best deals in the Charleston real estate market are short sales which, for various reasons, do not sell to the first buyer with a ratified contract.

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Commercial Real Estate Lawyer - How to Avoid Costly Mistakes

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The role that the Real Estate Attorney plays in the selling of your home by for sale by owner makes him/her a necessary addition to your team. Like any other aspect of the law, real estate law should be left to the professionals. Unless you are legally entitled to practice Real Estate law in your State/Province you need professional help. Below are some of the details that your Attorney/Lawyer will take care of.

Your Attorney/Lawyer will review the contract of purchase and sale and advice of potential problems. The seller is typically responsible for preparing the transfer, which is the document that transfers the title of the land from the seller to the purchaser.

They will review transfer documents received from the buyers lawyer, which includes the statement of adjustments which shows credits and debits for seller and buyer, for items such as purchase price, property tax, strata fees where applicable, water account, tenant rent or damage deposits, commissions to be paid to Real Estate Agents, down payment paid by buyer and transfer of title.

They will converse with the buyers Lawyer if necessary and resolve any problems or concerns regarding title issues and or accuracy of figures. Obtain a mortgage balance statement from the seller's mortgage lender to determine the amount necessary to pay and clear the mortgage balance on the day of closing.

If you are selling one property and purchasing another property with closings on the same day, you may need to arrange interim financing. This is a temporary loan to ensure that monies are in place to complete your purchase.

As you can plainly see the Attorney/Lawyers role is vital to the sale of your home. Make sure you have one on your team before you attempt to sell your property.

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