Fixtures vs. Personal Property

Fixtures vs. Personal Property

Often times in a real estate transaction there is a question as to whether an item conveys with the home. Typically the issue presents itself at final walk through when the Buyer is assuming an item is transferring with the home, however, it’s not there and the seller’s have taken it with them. Generally speaking, […]

What’s a Signature?

In all areas of the law, a person’s signature is of utmost importance. A person’s signature provides authenticity to a document whether they are signing a contract, signing a will, or purchasing a home. In the past, signing a legal document was a major event. The individual would come together with several witnesses and affix […]

Wire Fraud

Buying a home, especially the first, is supposed to be an exciting time. However, the very nature of real estate transactions, where large amounts of money are transferring between parties, makes them a prime target for fraudsters.  Increasingly, financial institutions and home buyers are falling victim to wire transfer scams connected to real estate closings. […]

Transfer on Death Deeds

Virginia has a wonderful legal mechanism by which any property owner (or owners if joint tenants) may convey a piece of property to another individual outside of probate via a Transfer on Death Deed. This instrument can work in conjunction with your current will, trust, or other estate plan or it can be a separate […]

Real Estate Settlements Explained

To help fix the problem of “delayed disbursements” in a real estate transaction, the VA code was amended in 1980 to require settlement agents to disburse funds within two days of closing. While there is more to this “Wet Settlement Act” than just disbursement, it helped pave the way to Virginia attorneys and title companies […]

Selling a Home During and After Bankruptcy

When a client / seller is involved in a bankruptcy, the bankruptcy attorney should always be consulted before listing a home. It’s definitely possible to successfully sell a home while the seller is going through a bankruptcy but everyone must follow the proper procedures, so always keep the bankruptcy attorney involved. For an individual, the […]

What is a contract anyway?

Sometimes parties get wrapped up in the formalities of contracts, especially real estate deals. Realtors throughout the country often use templates to draft the contracts and clauses are nearly all built in to the templates. In other deals, parties may have various form contracts they build off of. In reality, a contract is super simple […]

Clarity

One of the major issues I see in real estate contracts are vague terms and clauses. With any contract, especially a real estate transaction, keeping everything super clear is important to insuring your client is fully represented and accurately protected. An important note to remember is that when a contract is disputed in court, the […]

Listing a Short Sale – 5 Important Points

As mentioned in a previous post, a short sale occurs when an individual is unable to pay their mortgage in full when selling the home. Instead of a “full payoff,” it’s a “short payoff,” also called a short sale. Most real estate agents are aware that short sales are much different from traditional sales in […]