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8. Conditions of Going Forward with the Transaction There are two major buyer areas of uncertainty at the time the parties enter into the agreement. The first is getting affordable financing. The second is obtaining assurance from professional inspectors as to the acceptable condition of the property. Before removing his property from the market the seller wants to know that the amount sought is reasonable in relation to the property sale price. A pre-qualification letter may

My wife and I enjoy watching athletic contests on television. We both watch tennis. We have each played. She sometimes watches golf. I like to watch lacrosse, football, and basketball. She likes ice skating, which I watch because of her interest, although I can get into almost any athletic event and become interested. We have been watching ice dance events at the Olympics these last few days. Her interest stems from the time she and her father participated in ice dancing cont

6.  Price of the Property This concept seems simple. How much will it cost? A house is usually listed for sale for an asking price, an amount agreed to between the seller and the real estate broker. This is what the seller hopes to get. The broker, or agent, who listed the property, has examined other properties in the area. In making their study, and arriving at a recommended figure, brokers have made adjustments for differences in the listed property and other property rece

I am, taking a break away from my series of educational posts about the residential real estate contracts that are so important these days to buyers and seller of property to enjoy the reminder the Boy Scouts send to me every year. I have been blessed to have had the opportunity to achieve many things. They range from family opportunities, education, travel, and professional opportunities. One of the most important and proudest achievements was obtaining the Eagle rank as a b

4. Title to the Property Owning a property is having title to it. There are different states of title. Perfect title is title without exception. There is almost no perfect title. Usually a buyer requires marketable title or insurable title. As a practical matter, title is acceptable if a challenge to usual or defined expected use would not be expected to be successful - that is marketable title. A title subject to easements for utilities that are limited to providing service

1. The parties. The primary parties in interest to an agreement, or contract, are the buyer and the seller of the property. Generally when real estate is the subject of an agreement, that agreement must be in writing to be enforceable, although since 1996 an oral agreement that can be proved by a heavy burden of proof, that is by clear and convincing evidence, is enforceable. Each party (buyer and seller) must be properly identified. Errors in the way the name is set out as t

In 2007 I was selected by the Institute for Continuing Legal Education to teach lawyers about various topics relating to the real estate law practice. We talked about title to property, liens, easements, use of property, zoning, radon, contracts and more. I had contributed to the basic book the Institute published on residential real estate practice. I helped a law publisher create legal forms sold to lawyers for use in their practice. I was asked to, and wrote a long article

In the early hours of January 3rd, U.S. special forces carried out Operation Absolute Resolve in Caracas, Venezuela, capturing Nicolás Maduro before flying him to New York where he will face U.S. narco-terrorism charges.  One thing we do not hear mentioned in the news reports following the capture of the indicted gang member, drug dealer, criminal, former leader from Venezuela, is the fact that a number of major U.S. oil companies had agreements with the government of Venezue

It is a little late, late indeed, to get a gift book for a friend, relative, or business associate for Christmas. I am writing this on Christmas Eve while my wife makes her traditional Cherry Ring, a coffee cake pastry, for our family breakfast gathering at our daughter’s home Christmas morning. But it is not late for a book gift to yourself (it never is) or for a New Year gift to persons on your list. In my last post I told you about the informative "Frenchtown" book. Just a

I had lunch today with a few friends. It is a weekand two days before Christmas. Our talk turned to gifts for friends, business associates, family, and business prospects. At our table was a perfect mix for the discussion. One person was an old friend, an insurance salesman. I had sung with him in the Harmonizers. One was a chiropractor and minister. I just like to talk to him about fishing (of which he is an expert and I know little, although I have done some fishing). Thre