By Elliot Zaks, Principal, Madison Commercial Real Estate Services
Do-it-yourself projects may be a worthy endeavor for a handy homeowner refinishing a deck or a green thumbed gardener installing a herbaceous border. However, in the complex world of real estate transactions, DIY measures may backfire. Buyers seeking to cut costs with DIY methods can miss out on some vital resources.
The residential home market is experiencing a shift in attitudes. Rising interest rates and stiff credit requirements are causing a slow down in residential mortgage lending, as buyers struggle to get home loans. Rather than submit to the strict rules of the banks and creditors, many home buyers are turning to all cash deals. While cash buyers have the advantage of evading lender’s regulations, they should be careful not to forego essential industry safeguards. Continue reading
Tags: all-cash deal, do-it-yourselfer, Inc., individual investor, lender’s title insurance policy, owner-occupant buyer, Owner’s title insurance policy, real estate attorney, real estate transaction, Realty Trac, second-home buyer, title insurance
By Michael Donini, Esq.
While time may not always allow an attorney to read through every detail of the boilerplate title insurance policy, a skilled practitioner should definitely know the exact details of the customized portions of the policy and the scope of the title insurance coverage given by endorsements. Why? Because a full understanding of policy endorsements and their benefits will ensure a client’s proper title insurance coverage. Continue reading
Tags: access, ALTA 4, endorsements, lender’s title insurance policy, line of credit, mezzanine loans, non-imputation during a partnership buyout, Owner’s title insurance policy, property contiguity issues, revolving credit, title insurance, title insurance policy endorsements, title insurance underwriter, zoning