Flipping Houses Make $30,000 A Month Flipping Real Estate

Okay, you know the drill: purchase a house below the current market rate, make some repairs and improvements to it, and then turn around and sell [flip] the house to generate big profits.

While the concept of flipping houses is nice, the reality is that so much more is involved in flipping real estate. Without the proper knowledge on how the process works, you could end up being saddled with a house you really do not want to own or end up taking a big loss on the sale of your property.

The real estate market has the potential to create huge profit windfalls for the savvy buyer. Here are a couple of tips to help increase your profit margin when flipping houses:

Buy low and sell high. How do you find homes to buy below the market?

1. Create a free brochure titled 3 ways to avoid foreclosure and get cash NOW for your equity. Then, distribute your brochure to people who are currently in the foreclosure process and homeowners who are currently 90 to 120 days behind on their mortgage payments.

By the way, one of the helpful tips in your brochure should be to call you for a quick sale.

You can obtain foreclosure information from your local court house. For a list of homeowners who are currently behind on their mortgage payments you will need to contact a credit agency - Experian.com, Equifax.com, or TransUnion.com.

2. Contact divorce attorneys in your area. Offer your home buying service as a resource to help clients liquidate their homes quickly at a fair price.

Now, before you get into house flipping there are five main points you must take into consideration prior to closing on your deal:

Acquisition Costs Every home will cost you money before the deal is even finalized. Plan on writing out checks to your attorney, to the title company, government agencies such as recording fees, and an application fee for a mortgage [unless you are paying cash], and other closing costs.

Look into getting an option arm mortgage loan with a 1% minimum payment. This type of loan program can increase your cash flow by cutting your monthly payment in half!

These loans will also allow you to take a small piece of your equity and turn it into a tax deduction by creating deferred mortgage interest.

Management Costs During the period you own the home you can expect to shell out cash for property taxes, utilities, lawn maintenance, homeowners insurance, mortgage payments, and more. The longer you keep the home, the more expenses you will incur.

Home Improvement Costs Are you ripping out the kitchen? Laying new flooring? Putting in a new garden? Whatever repairs and improvements you make, are you certain that you can recoup these costs when you flip the house? Will the value of the house increase enough to cover your expenses?

Selling Costs Once you are ready to sell the home, will you be selling it privately or through a realtor? Real estate commissions running as high as 6% can eat up your profits very quickly. In addition, you will need to pay an attorney to represent your interests and pay any other related expenses.

Capital Gains A good problem to have is to make so much money off of flipping houses that you have to worry about paying capital gains taxes. You may avoid federal taxes, but your state or local government may assess a tax on you. Count on it especially if you live in a high tax area!

The deal you thought you made with the purchase of a house can quickly evaporate if the market turns cold or your expenses run too high. Carefully consider all five points before taking action and know your local real estate market inside and out.

Yes, people do make tidy profits by flipping houses, while others lose out. Do your homework before jumping in to make certain that you understand everything before buying a house that you plan on flipping later.

Conventional Lending As A Real Estate Investor's Tool For Wholesale

Conventional Lending As A Real Estate Investor's Tool For Wholesale Deals

I have been asked many times by real estate investors about the use of conventional financing for investor deals. These individuals hope to secure a bank loan or similar type of loan to purchase the property from me, or from another wholesaler. There are advantages to this including the fact that loan origination fees are lower and rates are cheaper. Hard money loans are more expensive, these are loans coming from individuals and they usually charge 5 points and 15 percent interest on up. Before you decide to go this route, you should consider the process and if this is the best route for your needs.

One of the first considerations should be is if this type of loan is obtainable, since only properties in good condition can receive a conventional mortgage loan. Secondly, you need to consider the deal's structure. I've never found a conventional lender who is willing to hand over a mortgage loan if there is an assignment fee involved in the transaction. This means that a wholesaler involved would be unable to get paid and of course this means they will not sell the property through conventional loans. The borrower must be the buyer named on the agreement. They will not fund the assignment fee.

There are a couple of ways to get around this.

#1: One way is if the wholesaler rewrites the agreement. This time, the new borrower is the buyer. When this happens, all issues with paperwork are resolved. In this scenario, the buyer must fund the assignment fee with some type of funds. In this situation the wholesaler is left unprotected because nothing demonstrates the wholesaler's right to neither purchase; nor the assignment fee to be paid. To get around this, a special agreement needs to be forged; which of course makes the process complicated. It is important to note that even if you have a seller willing to do this, you cannot just list the inflated price on the agreement and add a stipulation that the assignment fee is to be paid to the wholesaler. This cannot happen because the wholesaler's fees then show on the seller's area of the contract with the implication that the wholesaler actually acted as the real estate agent. If they are not an agent, it may not work.

#2: The second situation involves the wholesaler becoming the owner and in the chain of title. At this point, he can write the agreement with the buyer at the property's full price which also includes the assignment fee. To make this happen, you need a seller willing to do it and one who is using short term seller financing, a short term bridge loan from private lender, a home equity loan, or they are using a subject to financing option. The loan to value ratio must fit the requirements for it. This means banks will loan on the price and fund the assignment fee.

#3: A final option is the use of a land trust. Of course, these are highly complex. Yet lenders see land trusts often and are familiar with them and most will work with them without a problem. If this is the situation you will take on, you need an attorney who is familiar with them. It can be hard to find one that believes in them, either. With land trusts, locate a seller willing to sign a letter of direction. This allows the wholesaler to be paid a fee. Then, the seller and buyer can deal with each other.

There is more to keep in mind with conventional financing. It is a slow process. Mortgage brokers may allude to the loans being able to close in 10 to 14 days, but this is only true so far as getting the loan to the lender within a short amount of time. There is a rush on refinancing and lender's underwriters are slowed by it. It can take a week or longer. Conventional loans also require conditions to be met and submitted to the underwriters for approval. If conditions exist, this could take even longer for the loan to work its way through. Give at least three weeks to a month for the loan to close. For deals without this amount of time, consider other financing options.

There are some times when conventional financing works. It does not work in all situations. You should understand the process and what hurts or pushes the deal through. For the most part, conventional loans are not the best option for real estate in this form. Time, complexity and the process gives you stress; stress you do not need to deal with.

Common Commercial Real Estate Contract Contingencies

Just like residential real estate contracts, Dallas commercial real estate contracts have their share of contingencies. In short, contingencies are found in most real estate contracts and are essentially escape clauses for both the buyer and the seller.

Each party wants to make sure they are protected in the real estate contract, so real estate contingencies are a common occurrence. They often make the contract much easier to handle for both the buyer and the seller, as it provides them with an opportunity to back out of the contract for a number of reasons.

Although both residential and Dallas commercial real estate contracts both have contingencies, the contingencies themselves are quite a bit different. The following list details some of the common contingencies found in Dallas commercial real estate contracts:

When purchasing a parcel of land for Dallas commercial real estate, the contract may be subject to the approval of the buyers attorney. Because Dallas commercial real estate contracts may be decidedly more in depth than residential real estate contracts, waiting on the approval of your attorney when buying Dallas commercial real estate is quite common. It is also common to have a contingency that is based on a business professionals partner or investor, as it is important to get approval from everyone involved before the contract is finalized.

Many commercial real estate contracts include contingencies that are based on financing approval for the buyer. For tracts of land, this contingency may include approval of a legal survey, if one has not already been done. In addition, a buyer will likely want to include in the purchase agreement some language about obtaining necessary permits and zoning for the commercial property.

When speaking of commercial tracts of land, there may be a contingency with verbiage regarding liens on the property. In particular, the purchase of the land will be contingent on no environmental cleanup liens.

It is common to have a contingency based on: the buyer achieving a loan of at least 75 percent of the purchase price of the Dallas commercial real estate property; the buyer being satisfied with the inspectors report; and the buyer being satisfied that the property can be remodeled or renovated to his or her satisfaction. In other words, the buyer will likely include a series of contingencies based on the use of the commercial property and how it can and cannot be used.

The use of a realtor qualified in commercial real estate is crucial, as he or she will be able to guide you when making a commercial real estate transaction. Real estate companies, like VIP Realty, have a plethora of highly qualified and experienced realtors who have extensive experience in dealing with commercial real estate contracts. It is important to never enter into any type of real estate purchase agreement, whether residential or commercial, without advice from a trusted realtor and real estate attorney, as they will be able to best protect your interest in the real estate transaction.

Civil Lawsuits Are They A Way Of Life

Lawsuits are becoming a worldwide menace. Everyone should be afraid of lawsuits. You might think, "I'll never be sued". How wrong you are! It's so easy being sued now days.

Why? Direct & Indirect Liability We all know that we can be sued for direct involvement with an accident or by negligence. You can also be indirectly involved with a lawsuit. Joint & Several Liability is a legal concept used globally to drag innocent bystanders into lawsuits. Here's how. Theft, Fraud, or Personal Injuries caused by your Spouse, Business Partners, or Employees can make you liable.You can be sued and become "jointly and severally" liable for an injury to someone without having been personally negligent. All that is necessary is that you were connected in some way. If you are dragged into a lawsuit and the other defendants are without assets or insurance, you may end up being held liable for the full amount of the judgment!

WHAT ABOUT INSURANCE? Many lawyers recommend you purchase at least $1 Million insurance for each of your businesses, homes, land, cars, motorcycles, and boats you own. This will cost you $ thousands in premiums every year depending on how large a deductible (which you'll pay to the plaintiff) you are willing to afford. Is that enough?

$ MILLIONS CAN BE AT STAKEHere are some recent civil court judgments from the United States:$84.5 million for children drowned and brain damaged in a swimming pool.$7 million to a laborer who lost a limb at work on a construction job.$5.87 million for sponsoring a party where a guest later caused an auto accident. $2.7 million for spilling some hot coffee on the legs while driving. In addition to the court award, you must pay $ Thousands to your defense attorney! You will also endure a lot of wasted time defending yourself and your reputation. Let's not even get into the physical & psychological Stress. Not Just in the USA: Citizens of Canada, Europe, Russia, Central & South America, and even communist China are being sued for similar injuries.

HOW CAN YOU PROTECT YOURSELF? The best solution is to strip you of all assets and become what is known as "judgment proof" amongst the personal injury trial lawyers around the world. Most lawyers charge their clients no direct fee for filing a personal injury lawsuit. This is known as a "contingent" fee. It means that the lawyer will collect no fee unless he wins the lawsuit and can collect the court awarded judgment amount. Before a lawsuit is filed, a careful lawyer will research the defendant's ability to pay a court judgment. If the defendant is "judgment proof", (he has no insurance, no ownership of assets that can be seized to pay off a court judgment) the lawyer will not want to sue that defendant. That's because the lawyer will spend all of his time and money pursuing a lawsuit with no hope of ever being paid. So, how can you make yourself Judgment Proof?

OFFSHORE CORPORATIONS & PRIVATE INTEREST FOUNDATIONS
Domestic Corporations: Owning a corporation set up in your own country may provide a little protection. However, a domestic corporation can be sued as well. In addition, your shares in a corporation are assets in which a judgment creditor can seize. So-called "Limited Liability" corporations, companies, and partnerships don't really offer you bulletproof limited liability.

OFFSHORE CORPORATIONS: A better solution is to set up a corporation outside of your country (offshore). An Offshore Corporation can own real estate and vehicles in your country. For even better protection, set up different Offshore Corporations so each one owns only one of your major assets. For instance, one corporation owns your cars, another owns one piece of real estate, and another owns different real estate. As the old saying goes: "Don't put all of your eggs in one basket."

PANAMA OFFERS THE ULTIMATE INASSET PROTECTION

WHAT IS ASSET PROTECTION?Asset Protection entails protecting your accumulated wealth from unnecessary taxation, frivolous lawsuits, burdensome governmental intrusion, and greedy relatives or in-laws.

WHY PANAMA? Years ago, former British colonies like the Bahamas and the Cayman Islands offered anonymous corporations & secret bank accounts. Not any more. Even Swiss bank accounts are no longer secret. Panama is one of the few remaining countries allowing you total anonymity with setting up business entities and opening secret bank accounts.Panama's Bank Secrecy Laws are the best in the world. Your funds remain private, confidential, and safe inside Panamanian banks.Panama's Corporation Laws are the strongest around the globe. Corporate shares are never registered with any government agency in Panama. Panama is one of the last countries allowing total anonymous "Bearer" shares protecting the identity of shareholders.

THE COMPLETE OFFSHORE STRUCTURE You read about Panama Offshore Corporations. Their main purposes are to Protect your Assets and provide you with Privacy regarding your financial affairs. Let us explore the ultimate in Asset Protection and Privacy. The Complete Offshore Structure is a combination of Panamanian legal entities. A Private Interest Foundation owns the shares of Offshore Corporations. This is the utmost in Asset Protection, Privacy, Anonymity, and Convenience!Here is How It Works: Panamanian Corporations own all major assets (real estate, commercial businesses, commercial bank accounts, vehicles, etc.). The Foundation acts as a holding company for the Corporations. The Foundation also holds passive investment accounts and bank accounts.

What is a Foundation? The Panamanian Private Interest Foundation is a legal entity that acts like a Trust and operates like a Corporation. Law No. 25 of June 12, 1995 created and regulates Panama Private Interest Foundations.The Panama Private Interest Foundation based on Private Interest Foundation models from three different jurisdictions: Liechtenstein, Switzerland, and Luxembourg. Panama carefully designed the Panama Private Interest Foundation as a more modern, flexible, and affordable Asset Protection & Estate Planning vehicle for people worldwide.Banking: Panama has always used the U.S. Dollar as its official currency. Panama is a famous international banking center. Panama doesn't share its banking information with any other country. It is a crime for any bank employee to disclose banking information to any third party in Panama. Tax Haven: Offshore corporations and foundations do not pay Panamanian income taxes on income earned outside of Panama. Therefore, you can use your Panama entities to make money in other countries tax-free.

ASSET PROTECTION is necessary in today's lawsuit crazy world. While the steps we have summarized for you above may seem difficult and complex, they really are not. That's because using experts who know how to set up Offshore Corporations and Private Interest Foundations will make this easy for you.

Lawsuit Protection can now be a way of life.

Buy Austin Homes For Investment Through Reliable Real Estate Agents

Buy Austin Homes For Investment Through Reliable Real Estate Agents

Many people who visit Texas enjoy the warm climate and look for Austin Homes to purchase as investment or for setting up residence. Austin is the capital and fourth largest city in Texas. The real estate market is booming in Austin as many people are focusing on investment opportunities in this beautiful state where the scenery is magnificent and the weather is warm and inviting. Values of homes are now skyrocketing and people realize the necessity of building up a good investment portfolio. Investors can own homes with owner financing in Austin or the surrounding areas such as Round Rock or West Lake Hills, RX.

When the industry starts shrinking, the demand automatically goes up and this is exactly why the current sales are steadily rising since 2012. Anyone interested in learning what is owner financing, when buying properties or Austin homes, should contact the best real estate agency in the area that is qualified and experienced to handle the entire transaction. You can look for these service companies in your area through the internet. Read the testimonials and review the feedback to be assured of their quality service. The real estate agent should be able to discuss financial strategies to help you invest without using your own credit or cash. They should also be able to help you purchase home spending less cash on the dollar. They should be able to enlighten you on the way it works.

Owner financing proves beneficial to the sellers because they are able to make money upfront without the need to become a landlord. Buyers also are able to obtain loans for houses with this type of financing. Since there are many non-licensed investors who do not complete the process properly, they may put buyers and sellers at high risk by trying to cut corners because they are not 100% sure of the legal processes. Owner financing is a legitimate way to see real estate when it is difficult to get convention financing.

What is Owner Financing? The buyer makes an offer through an agent or on their own when the owner advertises his house for sale. Instead of the buyer trying to get a bank loan, the seller carries back the amount agreed upon which includes a 10% down payment on the total amount. This balance is taken back by the seller as a note and mortgage. It could also be a real estate contract or a deed of trust depending on the documents that are customary for that state. A title company carries out the closing transaction and a real estate attorney drawn up the legal documents.

An agreement is made for the amount of interest that has to be paid by the buyer per month. He will expect the entire payment to be paid within a certain period. This is referred to as owner financing, private mortgage or seller carry-back. The seller has the same rights of foreclosure if the buyer is unable to make the payments. This type of transaction is popular in Texas when you are looking to buy beautiful Austin homes in Texas.

A Week in Ohio and Kentucky

Last week i spent 2 days surveying near Lexington Kentucky and 2 days near Cincinnati Ohio.

The site we surveyed in Kentucky was right by a Dixie Cup plant, i liked their water tower.

Down south they have lots of cockroaches in their sewers. They were big too.

We drove through part of downtown Cincinnati.

I got to eat at the original Montgomery Inn, in Montgomery Ohio. The ribs were probably the best i've ever had.

Assembling Your Real Estate Investing Team

There are several important things you need to be successful in real estate investing, one of which is a great team. I'm going to talk briefly about who should be on the winning team:

1. Your Mentor - every successful entrepreneur needs a good mentor. A guide. By training under the watchful eye of one smarter then us, we can only get smarter. Start at your local investment club

2. Mortgage Broker - you want someone who has the experience of working with other investors. They need to be creative and smart!

3. Real Estate Attorney - it is really important to have someone on the team who can go through contracts, and who knows the legalities of all your moves.

4. Escrow Officer or Title Rep - having a good one on the team helps to close deals that much quicker. You always want people looking out for YOUR interests.

5. Accountant - Preferably a CPA (Certified Public Accountant). Your numbers guy should also be well aware of the ins and outs of real estate. Come tax time, this is the man to help you through the write-offs!

6. Insurance Agent - It is always better having an insurance rep that is looking out for you when things hit the fan.

7. Contractor - The good contractor seems like the hardest one to find, but can often make or break your profit margin. You want someone who gets things done on time and under budget!

8. Supportive Family & Friends - Having the support and backing of loved ones is important in any endeavor.

Other Optional Team Members:

9. Realtor - someone keeping an eye out for you

10. Property Manager - someone to watch over your investments

11. Great Handyman - Someone to take care of the little things that come up on a daily basis.

Assembling the team will not happen overnight, but once together, they will give you the backing and help you'll need to make your real estate investing dreams come true.

How To Choose A Good Auto Accident Attorney

Anyone who has been on either end of an automobile accident in Kentucky should hire an attorney for representation. It is important to have an experienced and trustworthy auto accident attorney in Kentucky for such a case. The lawyer will have to have the skills to review the details of the accident and establish who is at fault. He or she may also have to protect a person who has been accused of careless or negligent driving. When dealing with an automobile accident, getting the best representation is crucial. The following are tips on how to make an acceptable choice:

The first step in finding a lawyer for an accident is conducting a search for a car wreck attorney in Kentucky. The person can conduct the search online for a more extensive list of available attorneys. He or she should jot down five attorneys based on location. The closer the attorney is to the persons home, the less fuel expenses he or she will have.

The individual should review the main web page of each of the five attorneys on the list. First, the person should read the about page and find out how long the firms have been in business. Tenure is an important factor in choosing a reliable auto accident attorney. Each year the firm has been in business is a year of experience with settling complex cases. The person should rank the firm that has been operating longest higher than the rest.

Next, the person should read and compare client commentary. Comments from former clients will give the searcher an idea of the law firms integrity. The individual will learn if each firm practiced superior customer service, won cases, and treated the clients with respect. Former clients will also comment about honesty and ethics. The reader should weigh this information heavily when making a decision on which firm to choose.

Finally, the person seeking an attorney should make a phone call to each firm on the list. Availability is another important element of a great law firm or attorney. Good lawyers are always available to speak with a prospective client about pricing, problems, and other questions. If a law firm does not answer a phone call and speak to a person, then chances are high that the law firm cannot give its clients adequate care. However, a firm that answers promptly is most likely reliable.

A person can choose the best criminal attorney in Kentucky by looking for the most important factors: customer service, tenure, and integrity. A firm that has all three qualities will be well trusted and most likely will win the case.

Home Buying Ideas To Help You With Real Estate Panama

Home Buying Ideas To Help You With Real Estate Panama

Investors will find Panama an amazing location to buy real estate from. With its perfect climate and remarkable economic potential, you will definitely get your moneys value if you invest by purchasing Real estate Panama.

Remember all the time that when you buy real estate, you boost your net worth by means of buying and not by selling it.If you're going to sell it, ensure that it will be financially rewarding. There are three strategies how you can generate profits by buying and selling real estate property. Initially, you sell cash with a mark up. Next, you rent it out to other people that happen to be searching for temporary residences or maybe workplaces and finally, you build some thing on it that you can sell on installment basis to somebody who is willing to pay you per month for several years. Do not buy real estate that won't earn you profits and have plenty of encumbrances.

A great way to look for a real estate in Panama can be to scout foreclosed residences on numerous banks lists. Many individuals cannot pay for the loans that they used to purchase properties and end up having their titles taken back by the banks. On the other hand, financial institutions really need to sell non performing investments or assets that do not earn them money and when they do, these banking institutions will sell these repossessed and foreclosed properties for a cut price! Identify exceptional homes and properties which are located near markets, primary thoroughfares and in a good community that has plenty of potential.

Real estate Panama is a great investment for the reason that the nation is currently experiencing numerous improvement and buildings are appreciating in worth. Also, if you are planning to live in Panama, expect to live like kings and queens because it is extremely economical yet the infrastructure as well as technology that is accessible is limitless and is no doubt modern. This is why purchasing Panamanian real-estate is ideal not just for retirees but for younger investors also.

If you're a foreigner who would like to purchase a property in Panama, just be sure you are appropriately represented by somebody who knows local regulations on realty acquisition. Furthermore, these professionals like real estate agents or attorneys will surely be capable to assist you select the perfect Real estate Panama there is and you will definitely not risk paying for something which won't gain you funds. Moreover, opt for a secure place in order that it won't matter if the property or the unit is small or not. A superb area gives a lot towards a propertys value.

Foreclosures Of Rich And Famous People

Although the rich and famous are rich and famous, it doesn't mean that they are impervious to the popping of the real estate bubble. Many have succumbed to real estate woes as of late.

Ed McMahon had tabloids a talking when his real estate troubles became front page news last year. The now deceased celebrity attributed his dollar difficulties to alimony paid out to ex-wives and the economic downturn.

Aretha Franklin set the record straight about her exclusive Detroit suburban home. It went into foreclosure due to non-payment of property tax. She could have lost her $400,000 home to foreclosure due to $445 in back property taxes that accumulated into $20,000, since 2005. She said it was an oversight by her attorney. Once alerted of the situation, the Queen of Soul satisfied the debt.

Amber Frey, infamous ex-mistress of convicted murderer Scott Peterson lost her home northern California home to foreclosure. At auction, the asking price was over $200,000 less than the original purchase price. No one snatched up the deal at a low $305,000. She ended up surrendering the property to the bank.

Fantasia of American Idol fame came close to losing her home in Charlotte, North Carolina. The R&B singer settled with her Florida lender just days before the auction was scheduled to sell her pond-front home.

Extreme Makeover scandal hit the Harper family home in Atlanta, George when it went into foreclosure and would have been sold had it not been for ... even more ... generous donations. The most expansive Extreme Makeover ever seen was completed with much dedication, sweat and effort by volunteers, along with a deluge of donated dollars. Taking out a $400,000+ loan for a construction business that went belly up put the Harper's home in harm's way.

Laura Richardson, California Congresswoman, fell behind on property tax and mortgage payments in 2008. To the disdain of Sharon Helmar who sold it to her, the Long Beach home went into foreclosure and was sold. Neighbors noted that she did not keep up the lawn or take out her garbage.

Sports figures are not unfamiliar with foreclosure, either. Latrell "Spree" Sprewell, former NBA guard known for choking his then Coach P. J. Carlesimo, lost his 70-foot yacht and his Milwaukee home to foreclosure. Assessed at a mere $668,000, the home's value was nowhere near what most other sports professionals in his pay range own.

Jose Conseco experienced women woes, which caused him to lose his expansive 7,300 square foot Encino, California mansion. At least, that's his story. He said he lost $7 to $8 million on his two divorces that left him hard up for cash and was unable to pay his mortgage.

Not to anyone's surprise, Michael Vick's home was in foreclosure, since he was in prison and no longer could come up with the cash. Once NFL's highest paid player, the dog-fight diva was convicted and was to serve 23 months in prison. He was released earlier this year to serve out the rest of his sentence in home confinement.

Evander Holyfield, famous for his fight with Mike "I'll Bite Your Ear Off" Tyson, had his Fairburn, Georgia home in foreclosure. He was also behind on child support payments to a mother of one of his eleven children, and being sued for not paying $550,000 he loaned he owed to a consulting company.

Michael Jackson (King of Pop), MC Hammer (Hammertime fame), Veronica Hearst (Randolph Hearst widow), Scott Storch (previous hip-hop producer), Damon Dash (hip-hop mogul), Doug E. Fresh (rap icon), Vin Baker (former NBA star), Wyclef Jean (Fugees' frontman) and other famous actors, performers and sports professionals have all experienced foreclosure.

What To Do When You Default On A Commercial Building

What To Do When You Default On A Commercial Building Loan

Commercial building loans are loans issued to borrowers for the purchase of a property that will mainly be used to conduct business. Many people invest in commercial property because established businesses have a much easier time of paying their rent than residential tenants of other property buildings. Sometimes, when tenant businesses fail to pay their rent on time, the building owner is left with a diminished capacity to pay their monthly loan bills. Lenders dont typically concern themselves with the financial problems of tenant businesses; all they care about is how the borrower intends to pay them, leaving the borrower on the hook to the lender for the full payment amount, whether or not the rent was paid in full or not.

When a borrower fails to make their minimum monthly loan payments on time, their loan falls into default, which is also known as pre-foreclosure status. If a loan stays in pre-foreclosure status for long enough, the borrower faces the risk of full foreclosure.

Owners who default on a commercial building loan should immediately contact their lender to do one of two things: settle their debt or request an application for a loan modification. If the owners financial trouble is truly temporary, they are usually better off just settling the debt and moving on. If, however, the financial trouble is likely to be permanent, then a loan modification may be in order. Other options exist for the commercial property owner, but these options typically include the surrendering of ownership for the property in question. A loan modification is typically recommended first for the struggling borrower since this option allows the owner to make lower monthly payments and maintain ownership of their property. If the request for a loan modification is unsuccessful, the borrowers attorney can guide them on their next best course of action based on the borrowers financial circumstances and future goals.

Avoid being drawn into a conversation with a customer service agent or collections representative, as these conversations have a way of misguiding borrowers in need. If the borrower is unable to settle their debt and decides to request an application for a loan modification, the borrower should start looking for a local foreclosure attorney who can begin to act on behalf of the borrower. This will free the borrower from having to deal with their lender when they are trying to run their business. Hiring an attorney will also allow the attorney to review original loan documents to ensure that it was completed legally. If items in the contract are in contradiction to state or federal laws, the attorney will have more leverage with which to negotiate a modification on the borrowers behalf.

Borrowers of a commercial building loan should always hire an attorney before attempting a loan modification because the commercial building owner has so much to lose if the modification is not awarded and their financial trouble remains permanent. Not only can the property be repossessed, but the tenant businesses of the building can be evicted at the whim of the lender. Being responsible for the closing down of another business can put the commercial property owner in a tight spot and can leave them vulnerable to a claim for civil damages.

Train For Legal And Paralegal Careers Online

Working alongside a lawyer on a court case is obtainable through a variety of schooling options. Students can complete education online and enter a paralegal or legal assistant career. Training is offered at several educational levels allowing students to complete the program right for them.

Training is central in understanding how to help a lawyer prepare for a case. Students work through courses that help them understand legal jargon, law, and document preparation. Obtaining an associates degree, which is the most common educational path, prepares students for the profession. Another popular education route taken is a certificate program. Overall, certificate programs are for students that already have a degree and want to transition into legal work. Students can also enter bachelors and masters degree programs provided by a few online schools that offer this level of training.

An associates program provides students with the understanding of how to work with attorneys. Students can expect to learn how to assist a lawyer in every aspect of the case except for giving legal advice to a client. Paralegals and legal assistants are not allowed to represent a client. Working in public and private sectors has assistants doing different activities but students learn the basic knowledge needed to carry out specific legal tasks. Students can expect to gain skills online that include:
*Conducting research for certain cases
*Understanding legal terminology
*Helping attorneys prepare for hearings and trails

The purpose of these basic level skills are learned so students understand how to investigate facts and identify relevant information needed for a case. With this knowledge students write up a report that is used to handle a case. Legal research, civil litigation, family law, and online administrative courses are some topics that make up the focal point of education.

Students that want to obtain a bachelors degree will find that online education will broaden their knowledge and allow them to conduct more activities inside the work place. Education encompasses both general and legal specific courses that prepare students to take on numerous tasks. Professional duties may include:
*Fact checking
*Writing case documents
*Helping attorneys set legal fees

Earning a four-year degree program gives students more understanding of the field as well as the ability to enter managerial positions as a paralegal. Curriculum is more complex. It includes studying online in real estate, cyber law, tort law and legal writing. A bachelors degree is very helpful if students plan on entering law school after some years of experience.

Job opportunities as corporate or litigation paralegals are available to students that pursue an education. Students that enter an accredited program online gain an education that allows them to enter a satisfying career as a paralegal or legal assistant. Accreditation is provided by agencies like the American Bar Association to programs that offer a quality education. Numerous colleges offer online paralegal degree programs at various educational levels and students can complete a program in as little as two years. Begin education now and research online colleges.

DISCLAIMER: Above is a GENERIC OUTLINE and may or may not depict precise methods, courses and/or focuses related to ANY ONE specific school(s) that may or may not be advertised on our site.

Notice to Publishers: You may use this article on Ezine or on your Website; however, ALL links must remain intact and active. Failure to retain links is expressly prohibited and violators will be prosecuted extensively by law.

The Need For Power Of Attorney

The point of the POA. A Power of Attorney is a legal instrument that delegates an individuals legal authority to another person. If an individual is incapacitated or mentally incompetent, the POA assigns a trusted party to make decisions on his or her behalf.

There are nondurable, springing and durable Powers of Attorney. A nondurable Power of Attorney often comes into play in real estate transactions, or when someone elects to delegate their financial affairs to an assignee during an extended absence. A springing Power of Attorney springs into effect when a specific event occurs (usually an illness or disability affecting an individual).1

A "durable" Power of Attorney allows an assignee, or Agent, to act on behalf of a second party, or Principal, even after the Principal is not mentally competent or physically able to make decisions. Once a Principal signs (executes) a durable Power of Attorney, it may be used immediately, until it is either revoked by the Principal or the Principal dies.1

Of course, even after a POA goes into effect, the Principal can still make financial and legal decisions on his or her own. The Principal can also elect to have the POA take effect immediately, not just at a point in the future when they lose the ability to make these decisions. You can also appoint multiple Agents. 2

What the POA allows in financial terms. Financially, a Power of Attorney is a tremendously useful instrument. An Agent can pay bills, write checks, make investment decisions, buy or sell real estate or other hard assets, sign contracts, file taxes, even arrange the distribution of retirement benefits.3

Of course, a POA can stipulate what an Agent can and cant do financially. There are some things that are expressly forbidden, no matter what you stipulate. For example, your Agent cant use your assets on his or her behalf (which often constitutes elder abuse) or change or write a will. But he or she can establish a trust.3

Advanced healthcare directives: HCPOAs and Living Wills. Alzheimers Disease, Parkinsons Disease, ALS and other maladies can eventually rob people of the ability to articulate their wishes, and this is a major reason why people opt for a Health Care Power of Attorney or a Living Will. There are differences between the two.

A Health Care Power of Attorney (also called a healthcare proxy) allows an Agent to make medical decisions for a Principal, should that loved one become incapacitated or mentally incompetent. A person does not have to be facing death for a HCPOA to be put into effect.

A Living Will gives an assignee similar powers of decision, but this advanced directive only applies when someone faces certain death. It may articulate whether the loved one wants to be hospitalized at the end of life, or have surgery, blood transfusions, resuscitation, or other medical procedures administered. The assignee has the authority to carry out the wishes of the incapacitated party.

It is a wise move to draft these documents and have them in place before a diagnosis of some degenerative or crippling disease, or at least immediately after one. A HCPOA or Living Will must comply with state laws.

Who should have copies of these healthcare directives? You, your attorney, any doctors treating your loved one, and any hospital, assisted living facility, or nursing home involved in his or her care. Assuming you are the assignee, another copy should be in the hands of a family member or friend you trust in case anything debilitating happens to you.

A hitch: the HIPAA Privacy Rule. In 2003, the Health Insurance Portability and Accountability Act (HIPAA) became law, and it stated that an employees confidential health records must be protected from unauthorized dissemination. So today, a Health Care Power of Attorney should include an Authorization for Disclosure of Protected Health Information. This permits a health care provider to transmit PHI to doctors and hospitals under the HIPAA Privacy Rule. Without it, you could have a problem in a medical emergency, because most health care providers wont provide PHI without the express written authorization of the patient (a HIPAA medical release form). In fact, doctors and hospitals can face fines and sanctions for violating the HIPAA Privacy Rule.4

No power without a signature. Please remember: no Power of Attorney, HCPOA, or Living Will is valid unless it is signed and notarized and/or properly witnessed. It seems unthinkable that some people would draft these documents and never sign them but to borrow an analogy, some smoke detectors are bought but never installed.

Would you like to learn more? Then meet with an eldercare or estate planning attorney. You can find one with the help of an insurance advisor knowledgeable about long term care and eldercare issues, or with the help of a qualified financial advisor who has assisted families with legacy planning. Now is the best time to understand these options.

Rio Rancho Real Estate For Buying Or Selling Properties

Rio Rancho Real Estate is all about buying and selling residential as well as commercial properties. The real estate market is expecting a boom in near future as more and more people are willing to invest in homes especially in second homes. A home is the basic necessity and everyone needs a dwelling whether owned or rented. For this people go to estate agents, look for sale advertisements in local newspapers and ask their friends for references. Our attempt is to bring all the real estate to your personal computer so that you can choose anything from hiring full brokerage services to simply renting an apartment.

Shopping for a home starts with selecting an area where you want to live. Next is the selection of estate agent that is willing to walk an extra mile for you. Third is the deal which is expected to be fair and transparent. These are some of the considerations of a buyer. Now see what a seller expects. A home owner tries to get the top dollar on his investment. Our role is to bring the buyer and the seller closer for quick deals. With thousands of listed properties and millions of visitors, we can offer the best to both the buyer and the seller.

Everything is governed by the law of the land and the Rio Rancho Real Estate is no exception to this. When buying a home, it is mandatory to look into the legal aspect like the right of ownership of the property. If you difficulty in understanding the legal terms then take help of an attorney. Most of the times, it is the estate agent that ensures legitimacy of the property papers. But you must keep an eagle eye on all the conversation and transaction so that you are not duped of your hard earned money.

Property prices vary from one area to another hence it is quite a job to keep track of the property prices of all the residential as well as commercial areas. The amenities available close to a property affects its price. The ideal way to buy a home is to visit the area where you want to live at least twice or thrice. Try to be friend with the locals and get the price details and the amenities available. Or you can visit the Rio Rancho Real Estate and get all the details at one place.

Real Estate Law - 5 Things You Must Disclose To

Real Estate Law - 5 Things You Must Disclose To Buyers

In real estate law across the nation, sellers are required to disclose certain information to the buyers. What exactly needs to be disclosed varies slightly by state but many are similar and fall under the idea that any pertinent information that would affect the home's value, ability to use as a dwelling, or the desirability of the property must be revealed to the buyer. Here are some examples of defects that must be disclosed as deemed by local real estate law or else sellers may face breach of contract penalties.

1. Mold

It would be unreasonable for a buyer to expect a home to be 100% mold free. Unless you're living in a desert with no indoor water, the odds are high that there are some small traces of mold throughout the property. The problem comes when mold gets out of control, visibly soiling and spreading across surfaces, eating through wood or other materials, or causing physical reactions such as sore throat and headaches. Sellers should always disclose mold and mildew problems even if mild because they can spread if not maintained. Buyers also need to beware that mold can be scrubbed clean but quickly return after a home inspection.

2. Ghosts

Many people are concerned about inadvertently buying a home that is a site for paranormal activity. States can vary greatly on this matter, as it can be difficult to define what constitutes as a potential haunting. While most sellers don't have a responsibility to disclose whether or not they've seen any ghostly figures, they may have to reveal if there have been any grisly accidents such as murders on the property. If you're very concerned with the history of a home, it is recommended to do the research yourself before signing so you can sleep easy knowing your bed isn't a few feet away from an ancient graveyard.

3. Public Stigma

In addition to ghostly reputations, public stigmas attached to certain properties must be disclosed in every state according to real estate law. That means if the home wasn't necessarily the scene of a murder, but was once home to infamous criminals or is next door to an area well known for dangerous activity, it is a buyer's right to know. This not only protects their personal privacy, but the home's value may have significantly decreased because of it. If you ever think the price is too good to be true, this may be why.

4. Pests and Infestations

Sellers may not have to tell buyers about every single ant attack they got over the hot summer months, but if they have had termite problems, bed bugs, or cockroaches within the past few years, they may have a legal obligation to reveal these past infestations to buyers even if the pests have been all cleared.

5. Hazards

Do you live in on a fault line or in the middle of tornado territory? While most sellers will likely already know this, you may be required by real estate law to reveal if you live in or near a potential natural disaster zone.

Pontiac Rear Struts

Any time i had more than 2 people in my car and hit a bump, there was a loud bang from the back. I figured it was time to replace the rear struts.

I wanted to use something called a Quick Strut, which is where the strut and spring come pre-assembled. This would eliminate me having to buy and use a spring compressor. The problem is that i have a 2005 Pontiac Grand Prix GTP Competition Group. Originally the car came with special rear struts that were higher compression than the base Grand Prix or even the GT and i could not find a Quick Strut the same as my GTP. I figured that there wasn't a huge difference installing the standard strut, nothing i would notice while driving.

So i ended up buying the left and right rear Monroe Quick Struts from rockauto.com. They were $120 each, which is about $30 cheaper than places like Sears.


Several months ago i took my car to Katie and John's and John helped me fix the heads-up-display. So again he agreed to help.

The first side was awful and took 3 hours to replace. Here's a time lapse video of us trying to get the strut off.

It took a while trying to figure out how to remove some of the bolts, how high to jack up the car and what order to do things. The biggest problem we had was the sway bar link bolt was really rusted and we ended up snapping it while trying to get the nut off.

So we had to go to the store and get the right metric bolt with the right size threads. When we did finally get the strut off i noticed that the spring was different. The new one looks a lot better then what was on there.

After learning all the steps and tricks we fixed the other side in under 45 minutes. This time we sprayed WD-40 and used a wire brush on the threads of the rusted bolt and it came off much easier.

Here's another time lapse video of us doing the second strut.

For most of the video i was in the trunk messing with these 3 bolts.

The car rides much better now.

Real Estate Investing How To Buy Distressed Real Estate In

Real Estate Investing How To Buy Distressed Real Estate In Preforeclosure

When folks find out that I buy houses from distressed homeowners during the preforeclosure stage, they always ask the same question: "How do you find them?"

My simplest answer is: "At the courthouse."

Distressed properties are always easiest to find when a mortgage lender begins the foreclosure process. (The process is triggered when the borrower fails to make a mortgage payment.) Technically speaking this is the "preforeclosure" stage. The borrower/homeowner has missed one or more payments, the sheriff's sale or public auction is looming on the horizon, and the homeowner realizes he may soon lose his home.

Depending on which state you live in, the lender either records a Notice of Default (NOD) or files a judicial foreclosure lawsuit against the borrower. As soon as the foreclosure is public information, it's relatively easy to find.

So, depending on which property I'm interested in, I either do a search at the county courthouse or I get the information from a legal newspaper that has done the searching for me.

The hardest part is finding a property that has any equity in it. What I'm looking for is a Loan To Value (LTV) of 80% or less. For example, if a property has a market value of $100,000, the homeowner can't owe more than $75,000 -$80,000 on the property.

Why? Because I can't spend more than $75,000 - $80,000 for the property and still make a decent profit. That includes what I pay for the property (principle, interest, taxes, and insurance), my repair costs, and my holding costs. I have been known to pass on a great deal, simply because it was November and I wasn't convinced that the property would sell before summer. I always factor in having to pay the holding costs on a property for at least six months while I remodel or market the house. If the numbers don't work, I walk away.

Sometimes it takes quite a bit of research to find a property that I can make a profit on, but the rewards are worth it.

Now, before you call me a mercenary just because I look for distressed properties to profit on, let me say this: Somebody profits from every foreclosure - and it might as well be you or me.

Some people think it is unethical to benefit from another person's misfortune of losing their home or investment property by buying it from them in the preforeclosure stage. But I disagree. I look at buying preforeclosures as opportunities to help the distressed owners save their credit. When I buy their property, their debt is paid off and they are free to move on with their lives.

Foreclosures and other property distress are caused by divorce, unemployment, death, medical emergency, economic downturn, and any number of personal problems.

Recently, many homeowners bought expensive homes or refinanced to take equity out of their homes when the interest rates dropped. Those that later lost their jobs or had a medical emergency suddenly lost their ability to make mortgage payments. Many of those houses are now coming on the market as foreclosures because their owners haven't been able to sell them.They think of me as their guardian angel when I am able to buy their property prior to the sheriff's sale, save their credit, and pay off their debt.

For the most part, homeowners understand I need to make a profit to stay in business. If they are "upside down" in their house (meaning, they owe more than the property is worth), and there is no equity in the property, then it is very unlikely that they will be able to sell quickly -- to me or anyone else -- and get out from under their debt.

Minnesota Divorce And Property Division What Can I Keep, And

Minnesota Divorce And Property Division What Can I Keep, And What Must Be Divided

So you find yourself either contemplating divorce, or in the middle of a divorce in the State of Minnesota, and need to know what your rights are with regard to all the personal and real property owned by you or your spouse. This article will touch on the ins and outs of property division in divorce proceedings consistent with the laws of the State of Minnesota. There are two competing doctrines amongst the various Sates in this country on how property rights are vested to married couples, - common law property states and community property states. Minnesota is considered a common law property state (or marital property state) when it comes to property rights during the marriage. In the United States, there are ten States that are considered community property states, which include: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. This article deals specifically with common law property rights within the State of Minnesota.

As a Minnesota divorce attorney, it is critical to meet thoroughly with divorce clients to ascertain all the property interests owned by the divorce clients and the character of those property rights. All property will be classified as either marital property or non-marital property. There is a presumption in the law that all property is marital. Thus, it becomes the burden of the party attempting to classify the property as non-marital to come forth with the necessary proof and evidence to consider the property non-marital.
So what the heck am I talking about? What do I mean by marital property? . . . and non-marital property?

Per Minnesota divorce laws, all marital property shall be divided equitably between the divorcing spouses. Marital property consists of all property owned by the spouses that is not otherwise classified as non-marital property as explained below. To equitably divide the marital property does not necessarily mean to divide the property 50-50 between the spouses. However, in the majority of the Minnesota divorce cases, this is exactly what happens. But, if there is a large disparity in the spouses incomes, the Courts may award to the lower wage earner a higher percentage of the marital property.

So, what is non-marital property? In Minnesota, non-marital property consists of any property that a spouse owned prior to the marriage; that a spouse inherited at anytime, either before or during the marriage; or any property that was gifted directly and solely to one of the spouses (except for gifts from the other spouse). If property is classified as non-marital, then that spouse is entitled to all of such property, without having to divide any portion of it with the other spouse.

To prove the non-marital character of tangible personal property is often times not that difficult. However, when we are dealing with various bank accounts, retirements accounts or investment accounts, things get a little trickier. The spouse must properly and thoroughly trace the non-marital funds from their inception through the date of divorce. If the non-marital funds are commingled with marital funds, then that has the effect of converting all the funds to marital funds. Thus, it is very important that the holder of non-marital funds retain such funds in a separate account . . . however, it may not be the most pleasant conversation to have with your spouse when you explain why you are retaining the funds in a separate account: Honey I am just keeping the money in a separate account, so in case we get divorced I will get to keep all the money.

Similarly, if a spouse has an non-marital claim in real estate, it can be difficult to trace such a claim. This comes about when one spouse owns a home prior to the marriage, which has equity, then the parties sell that home and use the proceeds from the sale as a partial down payment towards the new home, and so forth and so on. There are many factors that come into play with this too many to discuss in this article. However, it should be noted that when computing a potential non-marital claim in real estate, the Courts discern active appreciation (i.e. appreciation of the property due to improvements) with passive appreciation (i.e. appreciation of the property due to market forces). Further, if at anytime during the course of owning the real property, the actual equity in the property is reduced to zero, then this has the effect of eliminating any non-marital claim that may have existed.

As you can see, it can become quite complex and complicated in determining and ascertaining whether any non-marital property exists as part of the marital relationship. It is always very important to speak with a qualified Minnesota divorce lawyer to discuss your rights in the Minnesota divorce proceeding.

Loan Modification Myths And Facts

Loan Modification has become the solution of choice for people facing unaffordable mortgages and foreclosure, but as the market for mortgage assistance grows, the number of misinformed homeowners is also rising steadily. A lot of people enter loan modifications with serious misconceptions, and end up making the wrong decisions, based on inaccurate information.

So how do you tell fact from fiction? Can a loan modification really stop foreclosure and solve all your mortgage problems? This guide shows you some of the most common myths about loan modification, and the truth behind them.

Myth #1: You can do it on your own.

Technically, you canbut it takes a lot more work and the results probably wont be the same. Loss Mitigation is one of a banks busiest departments; a typical loss mitigation officer can handle as many as 800 cases at a time.

These people are over whelmed and do not have time to deal with your problem adequately. Its not uncommon to be passed from one agent to another, and never get any real answers.

A loan modification attorney, on the other hand, can talk directly to your lender, and use significant leverage to get your file to the top of the agentss stack. When a lawyer represents you, the calls get returned faster, you get more personalized service, and you gain the capability to actually obtain the type of loan you can need.

Myth #2: Your lender would rather foreclose than modify your loan.

In some cases, foreclosure is the more practical option. But according to a Tower Group study, lenders lose substantial money with every foreclosure, and are required to increase their reserves in addition. The banks already own too many foreclosure properties and have too many non-performing loans on their books. They would much prefer to adjust your mortgage to something affordable and convert your loan into a performing asset. Dont be intimidated by threats of foreclosure.

Myth #3: You cant stop the foreclosure process.

Its true that your chances dwindle the longer you wait, but until your home is auctioned off, no one can really kick you out. A loan modification can stop the process as close as seven days before the sale date. This buys you enough time to get back on your feet while your lawyers work out a better arrangement with your lender. Of course, its always better if you take steps early on.

Myth #4: Its an instant solution to mortgage problems.

Loan modifications really work, but they take time, the right expertise, and money. Depending on how far behind you are, the process can take anywhere from one to three months. But since it stops the foreclosure process, you wont have to worry about losing your home while the modification is under way. If you submit your paperwork on time and cooperate with your lawyer, you can speed up the process and avoid complications.

Myth #5: You need good credit to qualify.

Standard requirements vary from lender to lender, but the bottom line is that the loan modification should make financial sense to your bank. Your credit rating doesnt have anything to do with it. Your lender will want proof that falling behind was a temporary snag, and that you can afford to stay on track if they do modify your loan. This means you have to have a job and a valid proof of hardship. You dont need to disclose your credit rating in most circumstances

Myth #6: Loan Modification companies are scams. Companies take your money, but dont really do any thing.

In any business there are always some unscrupulous people, but you can find legitimate organizations that will help you. The important idea in loan modification is to work only with an experienced and knowledgeable law firm or attorney who has a track record of success. You should thoroughly check on the background of anyone who claims to be able to do a loan modification before you spend your money.

To get in touch with a good loan modification attorney you may call 800.738.1170 or visit

Legal Home Forms To Offer Downloadable Real Estate Forms

A new website has been setup to offer real estate forms such as the quit claim deed. All forms are available for instant download. Homeowners looking for updated forms can make a purchase online, and get access to the forms immediately.

LegalHomeForms has been online since 2003, and they offer instant access to the most used real estate forms and contracts.

When buying, selling or renting a property, different legal forms have to be used. Each form has its own legal implications and homeowners should know what forms to use during a transaction. This is to ensure that all parties are protected by law when a dispute arises.

There are over 60 forms included in the package. All forms are created by former licensed real estate agents to ensure that the forms are legally valid.

Different states have different real estate laws and the appropriate forms must be used. State specific real estate forms will help prevent unnecessary legal hassles down the road. Popular state forms include Alabama, Arizona, California, Florida, Georgia, Michigan, North Carolina, Texas, and Wisconsin.

"This is important because we realize that sometimes homeowners may not be aware that they are using forms that may not be valid in the eyes of the court," said the founder of the website. "When a dispute arises, everyone depends on the legal document to settle the dispute. When one is not available, or if a document is nullified due to invalidity, then one party may be at the losing end."

The document titles included in the package are:

Real Estate Sales Forms

* Addendum (Counter Offer)
* Affidavit & Memorandum Agreement
for Real Estate
* Agreement for Deed
* Assignment of Real Estate Contract
* Attorney Approval
* Bill of Sale
* Closing Statement
* Condominium Purchase Contract
* Deposit Note
* Installment Note
* Land Contract for Buyer
* Land Contract for Seller
* Land Contract Past Due Letter
* Lead Based Paint Disclosure
* Letter of Intent
* Mortgage
* Mortgage Loan Record
* Offer to Purchase Real Estate
* Promissory Note
* Property Disclosure Form
* Quit Claim Deed
* Real Estate Purchase Contract
* Real Estate Sales Agreement

Lease/Rental & Real Estate Investment Forms

* 30 Day Notice
* Buyer Profile
* Buyer Property Inspection Report
* Cash Flow Analysis
* Expense Allocation Summary
* Extension of Lease
* Landlords Five Day Notice
* Lease (Standard)
* Lease Termination
* Market Sales Analysis
* Month to Month Rental Agreement
* Monthly Income Record
* Move in Move Out Form
* Notice of Overdue Rent
* Payment Agreement
* Permission to Sublet
* Pet Agreement
* Property Analysis Form
* Property Rehab Analysis
* Rental Application
* Rental Application Co-Sign Form
* Rental Application Rejection Letter
* Rent Receipt
* Rental Agreement
* Residential Lease
* Residential Lease with
Option to Purchase
* Residential Lease Guaranty
& Application for Guarantor
* Seller Information Form
* Tenant Intention to Vacate
* Waterbed Agreement
* Weekly Planner
* Weekly Priority Schedule

Among these documents, one of the most commonly used form is the quit claim deed. This document is mainly used to transfer property rights to another person such as a family member.

When a quit claim deed is executed, all rights and liabilities will be transferred over to another person. However, homeowners must note that the quit claim deed does not free the owner of the home mortgage. Refinancing must be separately arranged so that the home loan can be transferred to the new homeowner. A sample quit claim deed is available on the official website.

Another commonly seen form is the real estate purchase agreement. This is a 4 page agreement between the seller and the buyer. The role of this agreement is to ensure that both parties will undertake all responsibilities so that the sale go through smoothly. Details about the current condition of the house is recorded in this document.

The agreement is considered valid once both buyer and sell signs on the document. Usually, a deposit from the buyer is required. The deposit will act as proof that the buyer is indeed serious about purchasing the property.

If the actual condition of the house is not found to be congruent with the details in the agreement, or if repairs that are supposed to be done by the homeowner has not been completed, the buyer can refuse to buy the home. In this case, the deposit will be returned in full or in part to the buyer.

The website includes detailed instructions on how to use and fill up the forms. Individual forms can be bought at the affordable price of $6.97, while the entire package cost just $14.99.

How To Protect Yourself In Real Estate Litigation

If you are interested in purchasing or selling property, it is always a good idea to have some sort of legal counsel on hand to educate you on the finer points of real estate litigation. No one ever really talks about how they were almost done completing the purchase or a sale of a property only to end up in court because the other party decided they wanted to alter the terms of agreement and will not compromise or work thing out cordially.

Disputes happen every day, especially if the contract was misrepresented, misread or ignored. When this happens, the type of dispute that arises is so hard to resolve between the parties that are involved, that real estate litigation is often needed to resolve the issue and complete the purchase.

Since the laws surrounding property transactions can be very confusing, even to a professional agent, some kind of counsel is needed, especially if the matter is going to wind up in real estate litigation. Even disagreements between the builder and the person or company that commissioned the builder can arise and since it is very hard to resolve such matters without one or both parties breeching the contract and causing even further complications to develop. The real estate litigation process is a great resource to have.

It is a good idea to have legal counsel, if you are in facing foreclosure as well. Most people, who find themselves dealing with this type of situation, often are in disagreements ad disputes with their lenders. Many people are not aware they have this resource. Sometimes things can happen where a lender has resorted to some unscrupulous tactics to take back a home and foreclose on a client. Often it is hard for a person to prove that they are the victim. By hiring an attorney and filing for real estate litigation, the lawyer can get the proof that is needed to prove the victim's case. Once the facts are out in the light, it is possible to reverse the foreclosure process and keep their home.

No matter what role you play in any property transactions and no matter what type of process you are involved in, it is always a good idea to have a lawyer just in case a problem arises where further intervention is needed.

Remember, any real estate venture you are undertaking is an investment and you need to protect your interest at any cost. You don't want to inadvertently end up out of thousands of dollars and nothing to show for it. To keep yourself from getting the bad end of the deal, you should have someone who is educated and trained on matters dealing with real estate litigation. That way any modifications that are needed can be done and presented to the other parties that are involved. This can go on until all parties are completely satisfied with any arrangements that are made and stipulated in the contracts.

How To Minimize Risks In Construction Sites

The construction site is obviously one of the most accident-prone places. The presence of machines, equipment and materials, and the activity of men make it an inherently risky place. In some cases, accidents also occur when harmful chemicals or substances come in contact with equipment that can lead to fires or explosions.

According to Department and Labor statistics, construction accidents occur more frequently than many believed. Some of the most common injuries include sprains, bruises, cuts strains, contusions, lacerations, heat burns, amputations, carpal tunnel syndrome, fractures, and tendonitis.

While most of these injuries are not fatal, they can lead to long-term unemployment or a disability condition such as spinal cord injury, severe burn, and in worst cases, death. With these, the victims are entitled to file their legal actions with the help of their construction liability attorneys.

The real estate boom, which gave rise to the construction of residential homes, commercial buildings, and roads, has also contributed to the incidental increase in the number of accidents and resulting injuries in the past years.

Particularly in Los Angeles and other areas in California, the following construction accidents commonly occur:

Falls from ladders, roofs and scaffolding

Injuries caused by falling debris or materials

Scaffolding collapse accidents

Falling material or debris

Accidents caused by contact with electrical wires

Open trenches

Nail gun accidents and puncture injuries

Forklift and crane accidents

Delivery truck accidents

Injuries to pedestrians

Some accidents may be preventable. In construction sites, the wearing of hard hats and other protective clothing are required as part of safety measures. And despite strict safety laws, thousands are still injured or get killed due to construction site accidents.

Nevertheless, to minimize the risk of accident in the construction site, here are important things to consider:

1. Develop a formal, written accident prevention program - An accident prevention program must suit the needs of your particular workplace or operation and to the types of hazards involved. This is an outline of your safety and health plan or an injury prevention program.

2. Make sure your accident prevention program has the following elements:

A description of your total safety and health program

How to report unsafe conditions, hazards and practices

The use and care of required personal protective equipment (PPE)

How to exit the workplace during emergencies

Identification of hazardous gases, chemicals, or materials used and instruction about its safe use

Emergency action to take after accidental exposure to substances or chemicals

3. Develop and supervise the implementation of your safety and health training programs to make it effective in practice

4. Enforce the training program to improve the employees skill, awareness, and competency in the occupational safety and health.

5. Train workers and employees before being assigned to their job, which may also include on-the-job safety instructions on the use of the following:

Powered materials-handling equipment such as forklifts, backhoes, etc.

machine tool operations

How to handle toxic materials

The use and operation of utility systems

However, in most cases, accidents are caused by violations of the Occupational Health and Safety Act (OSHA). And under California law, a violation of safety law can be used as evidence of negligence in construction site accident cases.

If you were injured in a construction site accident in Los Angeles, for instance, and you need to claim for your injuries, it is very vital for you to seek the aid of an attorney to support your in filing a lawsuit.

Hiring A Property Lawyer Specialist

Those with legal concerns and issues related to property issues need to look towards and effective property attorney to represent them. While it would certainly be a wise idea to hire professional representation, it is best to higher an attorney that is a specialist. No, that does not mean you need to hire the most expensive attorney in the profession. It means you need to hire a legal representative that specializes in your area of need.

Some might consider hiring a property lawyer that specializes in, well, property law to be an academic point. But, it really isn't. Many people assume it to be because they do not truly delve into the specific practice area of the professional. They look at the attorney's website and assume because property law appears that it is the attorney's specialty. Well, it may be or it may simply be an area of practice that the attorney has experience in. While experience is certainly helpful, it does not reach the same level of value as specialized experience. How can you determine the validity of the professional's specialization? You simply need to look over the prior cases that the property lawyer has handled in the past. This will reveal all a potential client truly needs to know when seeking proper representation.

How can you be sure you can do this? It is not all that difficult of a process...

Basically, prior to retaining the services of an attorney, it becomes necessary to look at the lawyer's background. How many property related case has he/she litigated. What particular areas of property law were involved needs to be addressed. After all, there are significant differences between construction related litigation vs. mortgage related issues. Ultimately, you will want to match the right attorney with the type of case you specifically need litigated. This will increase the odds the outcome is one that is preferable to you. Such would likely be the case when you have procured the best possible representation. Again, this will be based on the attorney's background and experience.

Next, think about what kind of expertise you need. Are you in real estate and want to settle a dispute with a tenant or resolve construction issues? Are you a partner in a business and found there was a breach in the contract? Maybe you hired somebody for professional help and you found out that they did not do the job they promised. Figure out what your case will be about and find the firm that can help you with your needs.

Third, consult with the lawyer you'll be working with. Some lawyers will actually charge you for a consultation but there are many that are willing to consult with you for free. By talking with the lawyer about your case, you'll get an idea of whether the lawyer will be able to help your case and get more details on how to proceed with the case. You will also find out what kind of material you need in order to win your case or defend yourself in court.

Finally, take a look into their team. Many lawyers work with other lawyers that can help them in their case. Find out if there are other people in the firm that can assist your case should there be a need. For example, if you have a dispute about business and it involves real estate, it would be best to have a lawyer whose expertise lies in real estate as well as a business lawyer that knows how to proceed with these kinds of cases.

It is also necessary to look at the specific outcomes of the cases the property lawyer has represented. Where cases that went to trial successful? Were those cases that were settled out of court done so in a manner that clearly benefited the client in the strongest possible way. Again, all of these factors must be taken into consideration because you will want the end result to be one that delivers on the expectations of the client.

Does this seem like there are a significant amount of steps required for hiring a property lawyer. Well, the answer to that question may revolve around your own personal effort level. It would be safe to say, however, that the more effort you put into establishing the qualifications of the attorney, the greater the odds will be that you will receive effective representation.

Why Should You Hire A Real Estate Attorney

Buying or selling property could be tricky. You might not have the adequate knowledge to get into such transactions. You might end up incurring heavy losses if you do not consult a professional. This is when you require a real estate attorney. He can help you throughout the process of your property transactions. You will not end up making mistakes resulting in losses. Before hiring an attorney, it is important that you understand what his job is.

Say, for example you want to buy a property. Your lawyer will help you understand the purchase contract completely. He will also guide you through the process of taking the title of your property. The attorney will also do the job of checking if there are any easements or liens against the property. The attorney will also help in processing the registration of all the legal documents required for purchasing the property. The attorney will also help in the understanding of the mortgage terms. He will also tell you if there is any need of any adjustment. The attorney will review the papers that you need to sign. He will also work on the insurance of the property you are purchasing. The attorney will make sure that you get a valid registered ownership.

What is the role of a lawyer if you wish to sell a property? The attorney will review the binder and explain it to you. He will also prepare the buy-sell agreement. At the same time he will prepare all the terms of negotiation. The attorney will also arrange for the transfer of the security deposits. He will arrange for the deposition of the money to the landlord. The attorney will also make sure that all the responsibilities regarding the lease have been performed. He will arrange for official documents such as security certificates. He will also prepare a deed and the power of attorney. Various kinds of issues can arise during buying or selling of property. An attorney will always address those issues and sort them out. He will review the documents that need to be signed. And he will represent you during the time of the closing.

So, how to choose the right attorney for you? Make sure your real estate attorney performs all the roles that have been mentioned above, when faced with either of the two situations. The real estate firm you go to should be equally competent in dealing with residential as well as commercial property disputes. Under the category of real estate disputes, we have general real estate issues as well as real estate frauds. Landlord or tenant issues also fall under this category. So, if you are faced with any of these problems, consult a professional right away.

Look online if you wish to come across a good law firm that handles real estate issues. Any good firm will definitely have its own website. Browse through the website and see the kind of facilities they are offering. Also consider the rate at which they are providing their services. Visit more than one website before selecting a particular firm. Always go for a firm that is reputed in handling real estate issues. You can look for testimonies on the net too.

Why Do You Need a Patent Attorney

You have perfected your invention and it has the potential to solve a problem and make life easier. What next? You need to protect your invention so that no one steals it and calls it his own. In order to protect your invention, you must get it patented by an attorney. Some people believe that patent attorneys and agents are not really required and an inventor can file the patent applications himself and thus save money, however this is just a myth.

When your invention and its protection are involved, you must take no chances and hire a professional patent attorney. You may attempt doing it yourself, but the amount of paperwork involved is huge and in the absence of enough knowledge, you will only end up wasting time and creating unnecessary troubles. Furthermore, if you get stuck in the middle, you will have no help at hand to get you out of the problem.

The patent attorneys are some of most highly trained and qualified attorneys that you will ever meet. They know the ins and outs of the law, and they are well aware of any changes and amendments in the legal procedures in your state. They have years of experience in the field which helps them perform all the legal formalities with ease, and save you time.

Wanting to save money and no mindlessly spend on needless things is understandable, but when it comes to protecting your hard work and invention, you should not cringe for a few hundred dollars. I have seen inventors who try to file their own patent applications just to save some dollars and end up causing a lot of trouble for themselves. The cost of filing and obtaining a patent is much less compared to the money you will spend on marketing and distributing your new invention. As an inventor, you should ask yourself whether or not you would like to make sure that the patent process gets done rightly or risk it for just a few hundred dollars.

A patent attorney knows exactly what needs to be done because he has been in the business for long, and successfully submitted patent applications for several inventors before you. Thus, hiring a well qualified and experienced lawyer will not only give you peace of mind but also make sure that your invention is well protected. You may know how to draft the patent applications, but an experienced lawyer can always make those applications look much better.

When choosing a patent attorney, there are a few important factors that you must consider. You must choose a lawyer who has filed patent applications for inventions in your field. An engineering degree could be an added advantage. It is important that you verify the credentials and get details regarding the experience and educational background of the professional. You may ask the attorney how many patents he has filed till date, and for which type of inventions. You may interview a few professionals before choosing a patent attorney that perfectly suits your requirements.

Why Choose an Attorney Who Specializes in Personal Bankruptcy

When you trust someone to handle the process of filing for your personal bankruptcy, you need to be able to trust them to do the job well. Choosing the attorney with whom to place this trust can be a difficult process because of the many options that will be available, each claiming to be the best for various reasons. While you are sifting through your choices, you may want to keep these traits in mind:

Professionalism

This should be a relatively easy one to judge. Basically, you want someone who you know is going to take your case seriously and devote their best efforts to giving you the help you need. Oftentimes this will be a trait you can sense, but if you are still not sure, see if they have reviews or testimonials from previous clients.

Experience

When filing for personal bankruptcy, each case is going to be different. You case will have a unique set of issues that need to be handled, and so a cookie-cutter approach to your petition may not be the best. If you can find an attorney with experience handling many different personal bankruptcy cases, then the chances are greater that they will be able to deal with your problems in the most efficient and beneficial way. The more experience that an attorney has handling cases like yours, the better they will be at giving custom advice and navigating you through this process.

Proven Success

A good attorney will be able to tell you about cases they been successful in, and ideally these will be personal bankruptcy cases similar to yours. If they can show how they have been successful with others like you, it is a very good sign. Attorneys who specialize exclusively in personal bankruptcy will almost always be the best at this, as those are the only cases they work on.

Specialization

There are many attorneys that specialize in bankruptcy in general. This means that they handle both personal and professional cases. In this very stressful and sometimes emotionally trying experience, you want to put your trust in the hands of an attorney who is focused exclusively on your problem. An attorney who specializes in personal bankruptcy is going to treat you with respect and be sympathetic and considerate in regards to your ordeal. In addition, they will almost certainly have plenty of experience with cases similar to yours, which means their expertise can make the process as painless as possible.