Thursday, 9 April 2015
Before you finally get to call a recently-bought home your very own, you and the seller must have a written agreement, or a real estate contract, which details and proves that the seller had indeed sold you a home. This would become a legally binding document which outlines everything about the transactions between you, the buyer, and your seller. In order to be valid, a contract must show that both parties had agreed on an offer, and that something of value had been exchanged (such as cash) for the property. The contract must also be able to list down the most basic information about the property sold, such as the address and the purchase price. Still, a valid real estate contract is not limited to these basic information, and it’s advisable to consult a real estate attorney in Los Angeles before agreeing to such transactions.
Tuesday, 7 April 2015
Most people dream of owning a home, but few have the financial means to obtain their goal. There are situations, however, where some take claim of the property not their own, and, eventually, seek legal representation to lock the property down as their own under the principle of adverse possession. Writing for SFGate.com, Yvonne Cousar said that this method of claiming home ownership may be on the rise, with more houses being abandoned due to foreclosures. The above is never truer than in the great state of California, with liabilities for unclaimed property currently sitting above $7 billion. Some of these are located in failed housing developments. Southern California, especially Los Angeles, is also littered with many abandoned houses. When you’ve set your sight on a certain property, and background checks show no potential hindrances, you can make the place your own with the help of a Los Angeles real estate attorney like Bruce Edward Schwartz of Schwartz and Wisot, LLP.
Monday, 6 April 2015
Imagine this scenario: a man shows up on your front door, claiming that his signature was forged in the deed of the property, and that the house you’re living in is technically his and not yours. His case is proven to be valid, and you somehow manage to lose the place you’ve been calling home for the past ten years. As implausible as all these may sound, the possibility of suffering losses due to situations like this will always exist− and without the right protection, can leave you without a home, and with money spent on the house going down the drain. There are a lot of essential factors to consider when buying a new home in Los Angeles. It’s important for home owners to ensure that a property not only provides comfortable living conditions, but is also insured from possible legal problems. This is where the need for a title insurance comes in.