What can I do to help my inlaws with a real estate problem they have gotten themselves into?

To put it briefly, My retired inlaws met a reator who convinced them to buy a bigger house. with a mortgage payment which is more than they bring home in a month. The realtor had them refinance their current house and take all the equity out and put it down on the new house. My inlaws were under the impression that their old house was being sold and they were getting an advance on their equity. It has been 7 months and the old house has not been sold. I found out that it was never even put on the market and their isn't even a sign in the yard. To top it all off, I found out that they couldn't get qualified for a bigger house on a fixed income so the relator found someone to cosign their loan. Now there is someone who they don't know on the title for the new house with the $130,000 equity. What can I do to help them?

Technorati Tags: real estate attorney

Is there recourse to a real estate broker holding license to realtor committing fraud w/o broker's knowledge?

The realtor with a real estate license that is held by the real estate broker may not have fully advised the broker of what they were doing or saying to the various parties in the purchase and sale of certain real estate that the realtor was representing as selling or listing agent. The broker deals with real estate agents as independant contractors however the broker holds those agent's licenses, provides facilities and resources for them, and most likely shares in the commissions generated by the realtors, as per agreement.

In this situation, the realtor has commit fraud but may have done so without full disclosure to their broker. The broker is deferring all conversations now to their attorney so the question I have is whether the broker is accountable in any way, particularly if they were enriched via the fraudulent representations made by the realtor but did not know about it in advance or as it was happening. The closing has occurred but we are pursuing legal recourse now.

I want to get into house flipping. I've studied my market, scouted out some homes, gotten a reliable work force and the funds. But, I already own a home and don't know if i need an agent/license to purchase another one just to flip. Can anyone offer advice, or recommend a good book to help me research? How can I buy and sell a home without an agent?

Technorati Tags: real estate attorney

3 day attorney review for commercial property sale nj?

Is there a 3 day attorney review clause for the sale of commercial property in NJ. Are there different rules for residential and commercial when it comes to drawing up contracts ?

I am selling my house FSBO and have an interested buyer. We will be using a real estate attorney to help us complete the actual sales agreement, but it will be a few days before we can all meet with her, and I would like something on paper. I can't find a form online without a big fee.

Technorati Tags: real estate attorney

Is this a real estate scam?

me and my husband are currently current on our loan but are unable to make our house “sellable” for anyone to get a mortgage and will be facing forclosure in May when we will no longer be able to make our payments:

Now, a solution has come up from someone who we do not personally know but was reccomended to us as extremely trustworthy and legitimate…we have known of his business (and of his family) for several years.
Basically the suggestion would be that we would keep our deed, but would hold a contract that has been notarized and filed with our city that this person has assumed our mortgage until the property is sold, in which the deed will then transfer to the next property owner.
They make the mortgage payments, they make the repairs neccesary to sell the house and they get their investment through the sale of the house. We would be free of the house, and keep our good credit. Ideally. We would also maintain control of the deed until the house is actually sold.

Aside from the obvious benefits and risks, is there anything we are missing here?

House Speaker Nancy Pelosi moves in a rarefied world of high society and high-level politics — and nothing underscores that fact quite like her plans for the August recess.

Pelosi will spend next weekend quietly tending to top party donors and political allies at a series of private events in Northern California.

The two-day “issues conference” starts next Friday night with a dinner for roughly 170 guests on the back lawn of Pelosi’s multimillion-dollar home in the fashionable Pacific Heights neighborhood in San Francisco.

The following day, Pelosi will shepherd her guests to a Napa Valley winery with buildings designed by world-famous architect Frank Gehry; the speaker and her husband, investor Paul Pelosi, own a nearby vineyard worth between $5 million and $25 million, according to her annual financial disclosure report.

There’s nothing unusual about leaders using recess to fund- and friend-raise. Before leaving town last week, House Minority Whip Eric Cantor raked in $1.1 million for fellow Republicans at a lobbyist-heavy fundraiser on Capitol Hill.

And Pelosi’s staff notes that her California session will involve more than just schmoozing with the wealthy and well-connected. The speaker will lead policy discussions on health care, energy reform and the economy, among other topics. Scheduled to speak are Obama adviser David Axelrod, CNN commentator and former Clinton adviser James Carville and Mark Zandi, an economic adviser to Arizona Republican Sen. John McCain’s presidential campaign who has been providing advice to the Obama White House.

More than a dozen other House Democrats will be in attendance, too, including Massachusetts Rep. Ed Markey, a key player on the powerful Energy and Commerce Committee; Education and Labor Committee Chairman George Miller of California, Pelosi’s closest ally in the House; Xavier Becerra of California, vice chairman of the Democratic Caucus; and Joseph Crowley of New York and Debbie Wasserman Schultz of Florida, two up-and-coming Democrats who have previously found themselves in Pelosi’s doghouse but are moving to get back into her good graces.

The weekend event is technically not a fundraiser. In the parlance of fundraising pros, it’s known as “donor maintenance,” a “thank you” from Pelosi to those who have given generously to her and the Democratic Congressional Campaign Committee. To be invited, one must have raised money for the DCCC, been a longtime friend of Pelosi’s or contributed $30,4000 to the DCCC this cycle. The maximum an individual may give to a national party committee in any one year.

A donation to the DCCC of that size qualifies a donor to be part of the “Speaker’s Cabinet,” a fundraising program that gives supporters expanded access to Pelosi. In addition to the annual Napa weekend, Pelosi also will personally provide at least one more private briefing for these maxed-out donors.

According to campaign reports filed by the DCCC, at least 170 individuals, as well as a handful of Native American tribes, reached that maximum donation threshold as of June 30. San Francisco and Bay Area bigwigs are prominent among the collection of big DCCC supporters, including Ann Getty Earhart, an heiress to the Getty oil fortune; Elizabeth Fisher, whose in-laws founded The Gap, the retail clothing giant; and Eugene Eidenberg, a former Carter White House staffer who is now a San Francisco venture capitalist. Paul Pelosi owns up to $50,000 in stock in the investment firm that Eidenberg helped co-found, Granite Ventures, according to Pelosi’s annual disclosure report.

Pelosi’s aides are tight lipped about who will go to this year’s event, but the guest list is expected to include Phil Angelides, a Pelosi ally who unsuccessfully ran against California Gov. Arnold Schwarzenegger in 2006; Steve Elmendorf, a prominent Democratic lobbyist; Dick Gephardt, the former House minority leader and Democratic presidential candidate; Richard and Judy Guggenhime, Pelosi’s close friends and neighbors; Michelle Lerach, wife of the now-imprisoned plaintiff attorney Bill Lerach; George Marcus, a Bay Area commercial real estate broker; Heather and Tony Podesta, a Washington power couple; Marc Stanley, chairman of the National Jewish Democratic Council and a big party fundraiser; Steve and Mary Swig, Pelosi friends and financial backers; and Brian Wolff, Pelosi’s longtime fundraising and political guru who is now a lobbyist for the Edison Electric Institute.

Altogether, more than 165 guests have already committed to attend the Pelosi weekend, according to informed sources.

“Speaker Pelosi has spent years developing and keeping engaged a broad network of support from the best and brightest minds across America, and they care deeply about the issues facing the country and the Democratic agenda,” said Jennifer Crider, the DCCC’s deputy executive director and Pelosi’s political director.

Pelosi, though, will not allow PAC representatives to attend her weekend soiree, and it’s not a chance for lobbyists to curry favor with the speaker, so relatively few take part. In the words of one past attendee, “They don’t cut any deals [at this event], so those looking to do so are discouraged from coming.”

Since her initial run for Congress in 1987, Pelosi has forged an eclectic mix of political and financial supporters — a blend of Bay Area elites, Washington power players, labor unions, progressive corporate execs, trial lawyers, “old money” families from both coasts and Paul Pelosi’s business connections. And the veteran Democratic lawmaker has mined this group with enormous success, for herself and for her party.

Pelosi goes out of her way to court these donors. Her personal touches include frequent gifts of flowers — orchids are her favorite — or chocolate. She will call a sick family member of a big contributor or reach out to her supporters for their take on important policy issues.

“She is very good at the personal, retail level of this stuff,” said Steven Kazan, an Oakland-based attorney specializing in asbestos litigation. Kazan cut a $30,400 check to the DCCC in February but isn’t sure if he will get to Pelosi’s weekend gathering.

Kazan is among the wealthy Pelosi backers who take their cues from the speaker when it comes to giving money to House incumbents and candidates.

“With the House of Representatives, I long ago decided that I could not figure out what races were important,” said Kazan, who is constantly hit up for campaign donations. “When someone calls [for a campaign donation], I tell them, ‘Nancy Pelosi is my leader. If your name is on her list, I’ll give you some money. If it’s not, I’m real sorry, but take it up with Nancy.’”

Junior Democrats like Reps. Zack Space of Ohio, Mary Jo Kilroy of Ohio, Dina Titus of Nevada, Michael Arcuri of New York, Betsy Markey of Colorado, Martin Heinrich of New Mexico, Steve Driehaus of Ohio, John Boccieri of Ohio and Suzanne Kosmas of Florida have received tens of thousands from Pelosi’s friends and supporters.

Republicans have derided conservative and moderate Democrats who accept money from Pelosi’s friends for buying into her “San Francisco values” such as support for gay rights, abortion rights and an end to the U.S. military presence in Iraq.

Pelosi’s aides and backers dismiss the GOP criticism as misguided and unrealistic. They say that it is the role of a modern speaker to help his or her vulnerable members raise money for their reelection campaigns, especially in a tough political environment.

Pelosi has committed to personally raising $25 million for the DCCC this cycle, and party sources say she has already helped take in $10.7 million, with more than 14 months to go before the midterm elections.

Read More Stories from POLITICO
Supreme Court snoozer for Sotomayor
Sotomayor wins confirmation 68-31
Obama touts Deeds
Rahm warns liberal groups to stop ads
What's your question?

Technorati Tags: real estate attorney

What type of lawyer do i need to for this matter regarding my Mortgage/Homeowners insurance Please read?

I have this problem with my mortgage company. Just a few months ago i was on the verge of losing my house . I was dealing with my mortgage company on my own trying to negotiate w/ them to save my home but had no luck so i enlisted the help of a company to stop forclosure on my house, which they did. I signed a letter giving them temporary power of attorney so they may act on my behalf and get things done. It took alot of work on their end as well as mine and my mortgage company finally agreed and decided to modify my loan. I signed a 3 page modification agreement between my mortgage company and i that i would pay the specified amount and that my homeowners insurance and my property taxes would be my own responsibility aside from my modified loan payment and they would both have to be current and stay that way in order for the contract to stay valid. It was 100% clear to me. But something went wrong i wont go into every single detain but the mediators that helped me save my house called

Technorati Tags: real estate attorney

Real estate question about a home and bankruptcy?

A FEW MONTHS AGO I SPOKE WTIH A REALTOR ABOUT A PIECE OR PROPERTY. THE REALTOR DID NOT IMPRESS ME. MANY WEEKS WENT BY AND THERE WAS NO CONTACT. OUT OF THE BLUE 3 DAYS AGO SHE CALLED ME AND TOLD ME THE PROPERTY I HAD LOOKED AT WAS CUT IN HALF PRICE WISE. SHE SAID THE COUPLE WAS GONNA FILE BANKRUPTCY AND THEY OWNED THE HOUSE OUT RIGHT AND NEEDED TO SELL IT BEFORE THEY FILED SO THEY COULD KEEP ALL THE MONEY FROM THE SALE BEFORE THEY FILED. SHE CONFIRMED THAT THEY HAD CUT THE PRICE IN HALF SO I PROCEEDED. TODAY SHE CALLED ME AND TOLD ME THAT THEY FILED BANKRUPTCY TODAY AND I NEED TO CLOSE WITHIN 7 DAYS AND NOT MENTION THAT I KNOW THEY FILED. IS THIS ALL ON THE UP AND UP. SOUNDS REAL FISHY TO ME?

Technorati Tags: real estate attorney

Most attorneys are charging $2,000 plus, to 'help' people in California sell their homes with a short sale. Surely, these people are already in financial trouble so why not just hire a competent realtor yourself & pay other bills.

Technorati Tags: real estate attorney

One of the most frustrating aspects of the loan modification process is getting through to the right people. The process is confusing enough for the average homeowner. Most homeowners do not have a clear understanding of the process and speaking with a bank representative can be confusing. Once you think you understand, you call back and speak to someone else who tells you an entirely different thing. If you find yourself caught up in this situation, you might want to consider hiring a loan modification attorney to help you save your home.

One of the biggest headaches for homeowners is the lack of empathy on the lender’s side. They say they will call you back but never do. You send in your paperwork and they will tell you they weren’t received even if you sent it certified and have a signature. In part, the lender’s employees are overworked and have big case loads. Sometimes they will even give you the run around hoping that you’ll get tired and just give up. This is the time to consider a loan modification attorney to handle the situation for you.

One great reason for hiring one is to have a third party perspective. The attorney is not emotionally involved and can assess the situation. Since you as a homeowner are attached, the idea of losing your home can make you very emotional which means you might not be able to get the best deal available to you.

Your attorney can better deal with the mortgage company and negotiate the best deal for you. He won’t necessarily accept their first offer, especially if he feels you can get a better deal. Once an attorney is involved, lenders are sure to work on the modification in a timely, efficient manner to avoid the risk of a lawsuit. In other words, they take attorney’s requests for modifications very seriously and work diligently and timely.

A good real estate attorney can review your mortgage documents and check the legality of them. Inconsistencies and paperwork violations can give him additional leverage when making a deal. The hiring of an attorney for modification might be a great investment if it can get you a better deal than one you would have made yourself.

For essential tips and facts about how to get approved for a Loan Modification, Visit our simple, no nonsense loan modification guide and resource: http://MortgageModificationLoan.net/

I'm in a middle of a career change from a banking job to either becoming an elementary teacher or a public interest or real estate lawyer. Just need some opinions from Yahoo answers.

Technorati Tags: real estate attorney

There are times when the Seller or Buyer to a real estate transaction may appoint someone to act on their respective behalf and even to sign agreements relating to the Contract of Purchase and Sale as their agents, thereby meeting the requirements at law that all dealings involving land or interests in land be in writing. However, it is always mandatory (in British Columbia) that the agent obtain specific instructions prior to signing any documents on behalf of the parties to a transaction. This is all the more true when a Realtor is authorized to sign on behalf of one of the parties.

The written authorization must set out the exact terms, conditions and scope under which the agent is authorized to sign. A telegram, letter or fax may be used for this purpose, but it must be received by the agent before he/she attempts to act on the Seller’s or Buyer’s behalf. Agents must avoid signing documents on behalf of anyone based on verbal, telephone or e-mail instructions. Furthermore, evidence of written authority granted by one party to a real estate transaction must be attached to any and all documents where the agent has signed on behalf of the party.

Powers Of Attorney

Where it is desirable or necessary to rely on a Power of Attorney, it is widely recommended that it be granted to someone in accordance with the advices of a lawyer. When a person who has been granted a Power of Attorney signs a contract involving land or an interest in land on behalf of the person granting the Power of Attorney, the correct way for the contract to be completed is as shown on the following example:

“Mary Smith grants a Power of Attorney to Ted Lee to enter into a contract for the sale of her property located at [address in full]“.

Ted Lee, then, would sign both the Listing Agreement and the Contract of Purchase and Sale using the following statement:

“Mary Smith, by her attorney in fact” followed immediately by Ted Lee’s signature.

Furthermore, a transfer of title executed under a Power of Attorney to be filed at the Land Title Office (in British Columbia) at the time of completion requires the Power of Attorney to be drafted in proper form. This is so, because different Power of Attorneys can be granted by one person to another. While the form of such authority may authorize a party to sign contracts and certain other documents for another party, it may not be sufficient for Land Title registration purposes. Therefore, whenever a Power of Attorney is contemplated or utilized in a trade involving real estate, the parties ought to seek the advices of legal counsel as soon as possible to ensure the form of the Power of Attorney being used is valid and is acceptable for registration. It should be also noted that the Power of Attorney may expire after a specific time or be invalid for other reasons. Therefore the advices of a legal practitioner specializing in real estate transactions are always the best venue.

Dealing With Legal Or Beneficial Owners

The person or legal entity shown as the registered owner of a real property on the Certificate of Title at the Land Title Office may not be the person or entity that signs the Contract of Purchase and Sale as Seller of that particular property. This is a relatively common occurrence in the real estate trade. For a variety of reasons one entity may appear as the registered owner, while another entity may sign the Contract of Purchase and Sale as the Seller. This may happen, for example, if the registered owner holds the subject property in trust for another entity. In this case the beneficial owner (the person for whom the property is being held in trust) may sign the contract.

If the contract is signed by the beneficial owner, there will usually be a recognition of the trust in the contract {for example, John Doe in trust for Mary Black). As well, there will be normally a covenant by the Buyer to accept a transfer from the registered owner and not the beneficial owner who signs the contract. This covenant acts as a waiver of section 6 of the Property Law Act (in British Columbia), which provides that the person who signs the contract as Seller is the person who must sign the transfer. There may be warranties or representations of the beneficial owner, of the registered owner, of both, or limited warranties and representations of each.

In other circumstances the registered owner may wish to structure the transaction as a sale of shares rather than a sale of real property. Such sale may involve the shares of the registered owner or the shares of the beneficial owner of the interest in land.

It is always advisable to deal with legal or beneficial owners after a thorough title search has been executed. For example, in a typical residential real estate transaction problems can arise when a Contract of Purchase and Sale is drafted with the Seller when, in fact, the property is legally owned by some other person or company. In this particular case the Seller may have to transfer the subject property into his or her own name to comply with section 6 of the Property Law Act (a costly transaction involving, among other things, payment of taxes), or face the possibility that the Buyer may legally refuse to complete the transaction if presented with a transfer from the Seller as shown on the contract, rather than the registered owner as shown on title.

Buying From An Estate

A Buyer purchasing from an estate must be assured that the title must pass to him or her without legal problems, and that all parties who can claim against the estate have had their opportunity to do so. If Letters Probate have been granted already and the Wills Variation Act (in British Columbia) has been complied with, no additional clause is required. If, however, these steps have not been concluded a clause similar to the one that follows should be incorporated into the Contract of Purchase and Sale:

“Subject to the Seller receiving the following by [date]:

1) copy of Letters Probate; and 2) assurance that everyone entitled to claim under the Wills Variation Act has waived or released his or her claim against the subject property”. An example of a proper way for an executor to sign a contract on behalf of the estate is:

“John Smith, Executor for the estate of (name of the deceased).

In some cases there may be a delay in obtaining Letters Probate.Should that occur, the Buyer may agree to an extension to allow the Executor additional time to obtain the Letters Probate.

Luigi Frascati

Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He holds a Bachelor Degree in Economics and maintains a weblog entitled the Real Estate Chronicle where you can find the full collection of his articles on Real Estate Economics and Finance. Luigi is associated with the Sutton Group, the largest real estate organization in Canada, and is based with Sutton-Centre Realty in Burnaby, BC.

Luigi is very proud to be an EzineArticles Platinum Expert Author. Your rating at the footer of this Article is very much appreciated. Thank you.

Technorati Tags: real estate attorney

Am in need of dependable attorney to close real estate in volcan, panama if anyone knows any?

i have a property i've put a downpayment on in volcan, panama and after going thru 4 different attorneys, none followed thru on the closing. no idea why. can anyone recommend a dependable one in the chirique province?

Many people do not feel the need to hire a real estate attorney to settle a deal. They think that a real estate agent could do the job that is expected of an attorney. Remember – real estate brokers are not attorneys and cannot give legal advice. However, you should not overlook the fact that real estate transactions are governed by federal as well as state statutory and common laws. Real estate laws cover a wide variety of legal issues, such as acquiring, financing, developing, leasing and selling all kinds of commercial and residential real property.

There are various valid reasons for hiring a real estate attorney to handle your real estate deals. Reasons, such as protecting you from mistakes, errors in the documents, and in the figures, and other problems, could lead to expensive legal action.

You cannot expect to pick up a right attorney from a phone book or through an advertisement. You can go about hiring a real estate attorney in the following ways:

• Personal and Business Referrals – Check with friends who have invested in real estate, and ask for their recommendations. Your business contacts can do the same. The experience your friends and acquaintances have gone through can help you make up your mind.

• Attorney Referral Services – If you are not satisfied with your personal and business referrals, you can go the route of attorney referral services. Many referral services, which specialize in real estate attorneys, carefully screen the attorneys on their list with appropriate qualifications and experience. You can certainly ask the attorney referral services, what their qualifications are, including a particular attorney.

• Other Sources – You can check with your state’s Bar Association for referrals. Your local real estate realtor’s association could also refer an appropriate attorney to you.

Interviewing Prospective Real Estate Attorneys:

Make a list of attorneys from all your sources, and prepare yourself to interview them personally. Make a list of questions you wish to ask. Most real estate attorneys will answer simple questions over the phone – with no charges involved.

Your telephonic questions can include queries about his/her charges. Whether he/she charges per hour, or is he/she willing to handle the complete real estate deal for a fixed price. You can request for an estimate of the time he/she would take to complete the whole deal, which involves looking over contracts, handling disclosures, and helping with the closing, etc.

Before you select any particular attorney, make sure that he/she specializes in real estate. An attorney who is also a licensed real estate broker would be an ideal choice.

Therefore, through referrals, attorney referral services, or Bar Associations, you can make a choice of attorney to help you through your real estate deal.

Alexander Gordon is a writer for http://www.smallbusinessconsulting.com – The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

Business Owners all across the country are joining “The Community of Small Business Owners” to receive and provide strategies, insight, tips, support and more on starting, managing, growing, and selling their businesses. As a member, you will have access to true Millionaire Business Owners who will provide strategies and tips from their real-life experiences.

Technorati Tags: real estate attorney