Realtors, mortgage companies and title insurance companies are paid only
when you close. Don't rush to the closing table alone, without having
a lawyer who specializes in real estate to review your paperwork. I have
represented thousands of buyers and sellers since 1986. Use
my years of experience and professional network to protect you.
I am dedicated to providing you with affordable counseling and quality
service that will make your real estate transaction close as smoothly as
possible, most often for one low flat fee.
Consulting the Law Offices of Lee H. Morof will provide you with
answers to many of your questions throughout the buying or selling
process and give you peace of mind.
THREE THINGS EVERY BUYER SHOULD KNOW
1. Professional home inspection is an always! As a potential buyer, you
could encounter electrical, roofing, plumbing, water damage and
foundation issues, to name a few.
2. New construction requires a mortgage contingency that means you'll
get your earnest deposit back if you are not approved by your lawyer.
3. Your purchase agreement should be contingent upon the home
appraising at a value equal to or greater than that of the purchase price.
FOUR THINGS EVERY SELLER SHOULD KNOW
1. Before the placing your home on the market, you can get it appraised.
A drive-by appraisal is sufficient and inexpensive, approximately $150 versus
$350 for a comprehensive appraisal.
2. Be careful when selling your home using a land contract because
you may violate the "due on sale provision" in your mortgage agreement
which could result in foreclosure. If the buyer needs to buy on land
contract, it could signal that he or she has credit problems which could
add up to expensive legal fees and time-consuming court dates.
3. Selling by owner is difficult and most likely will not save you any
money at all. It will probably cost you thousands of dollars. If you try
it, never show your home alone for safety reasons and avoid holding
open houses that could leave your doors open to potential burglars.
4. Try to negotiate for your seller to provide you with a one year
home warranty to protect against major problems after you move
in. If your seller won't provide one, pay for it yourself. You won't
regret it.
