north county realtor who is attorney and lender

Can a lawyer represent a real estate developer and a seller?

Mar 20, 2020 · At the North County San Diego real estate law firm Incorvaia & Associates, knowledgeable and experienced lawyers provide attentive personal service and skilled representation. We build lasting relationships with mortgage lenders, developers, brokers, contractors, real estate professionals and other business clients.

Should one lawyer represent both the borrower and the lender?

North County, MO Real estate lawyers (7 attorneys, 18 reviews) Compare Real Estate attorneys near you. Read reviews and contact them directly. Sort by. Filters. Andrew Miofsky. Real estate Attorney near North County (Granite City) Save. 5.0 stars 3 reviews. Avvo ...

Is the lender a separate party to a real estate transaction?

North County Real Estate Consultant Receives Five Years for Mortgage Fraud and Tax Evasion U.S. Attorney’s Office March 16, 2012 Southern District of California (619) 557-5610

Can a lawyer represent both the buyer and seller in NJ?

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What do creditors want before lending you money?

Before lending you money, creditors want to determine how much of a risk you are —in other words, how likely you are to repay the money they loan you. Credit scores help them do that, and the higher your score, the less risk they feel you'll be.

What is the selling process?

The selling process generally begins with a determination of a reasonable asking price. I will give you up-to-date information on what is happening in your local marketplace, as well as the price, financing, terms and condition of competing properties.

Is Gretchen a good realtor?

"Gretchen was just awesome to work with. She is extremely smart and knowledgeable about real estate and has a clear understanding of the local market. She was also very adept at representing us and keeping in constant communication as she guided us through the process of buying our first home with relative ease."

What is the rule for concurrent conflict of interest?

Rule 1.7 prohibits the representation of a client if the representation involves a concurrent conflict of interest unless certain conditions are met. A concurrent conflict of interest exists if the representation of one client will be directly adverse to another client or the representation of one client may be materially limited by ...

Is a conflict consentable?

If the lawyer’s exercise of independent professional judgment on behalf of any client will be compromised, the conflict is not consentable. As noted in the comments to Rule 1.7: [S]ome conflicts are nonconsentable, meaning that the lawyer involved cannot properly ask for such agreement or provide representation on the basis ...

Who is involved in closing a real estate transaction?

In most real estate transactions, there are a lot of parties involved – sellers, buyers, listing agents, buyer agents, loan officers, processors, underwriters, home inspectors, appraisers, insurance agents … and then attorneys. Assuming the seller and buyer each have separate legal representation, then the closing attorney not only has ...

What is a closing attorney in Massachusetts?

That settlement agent is often called the “closing attorney.”. If you're moving to Massachusetts, this part of the closing process may be different than the state you're moving from. The legal fees for the closing attorney is one of several closing costs a homebuyer is responsible for paying at closing. That closing attorney represents the lender, ...

What do closing attorneys do?

Closing attorneys provide a myriad of services before, during and after a closing. Among other duties, they review and certify title, review/prepare/record the deed, obtain and payoff existing mortgages, order and payoff municipal bills and prorated taxes, collect smoke/CO detector certificates, prepare all the documents to be signed at closing , including seller certificates and declarations, and track mortgage discharges.

What is a note in a mortgage?

The note is a contract for the homebuyer/borrower to repay the loan based on the legal terms of the note. And the mortgage is a security instrument that a borrower gives to the lender allowing it to foreclose on the property, if the covenants and agreements in the note and mortgage are not met. The reason why a buyer has to pay for ...

What is a settlement agent in Massachusetts?

Most homebuyers that purchase a home in Massachusetts obtain a mortgage loan from a lender. The person/company that handles the closing (transfer of title) for the lender is known as the settlement agent. In Massachusetts, the practice of closing transactions for buyers and sellers when there is a home loan is considered the practice of law; therefore, the settlement agent for any real estate closing involving a lender must be conducted by a licensed attorney. That settlement agent is often called the “closing attorney.” If you're moving to Massachusetts, this part of the closing process may be different than the state you're moving from.

What is real estate contract?

Many times people look at the term “real estate” and think it only applies to the lot, but in this contract “real estate” means the lot, any structures on the lot, any fixtures and personal property included in the purchase price. If the property is a condominium the contract identifies parking spaces and storage areas.

What does OOR mean in real estate?

Here is where we identify the Buyer and the Seller. Frequently Buyers will see the Seller identified as “OOR” which means “owner of record.” Many agents refuse to disclose the actual owner of the property. It is best if the names of the parties are inserted.

How long does it take to cancel a property insurance contract?

This must be done within ten (10) business days after the date of acceptance.

When to use dual agency disclosure?

This is used when the agent is acting as an agent for both the Seller and Buyer. Dual Agency disclosure forms are signed to permit this and notice of dual agency must be given to you by your Realtor.

When to use cancellation clause?

This provision is used whenever there is an existing contract on the property that needs to be cancelled. A typical example of this is when a Seller believes that Buyer is going to terminate the contract because of inspection issues, etc. or has received a second offer with better conditions and terms and wishes to accept that second offer but needs to cancel the first contract. This is also used when a Buyer does not believe the existing contract to purchase the home will be completed for whatever reason and wishes to make an offer on another piece of property but it is subject to the cancellation of the first contract since the Buyer does not want to be put into a position of acquiring two pieces of property.

What is personal property?

Personal property is defined as that which can be removed from the structure without altering the structure. As you can see, it refers to appliances and other features of the property. There is a representation that, to the best of Seller’s knowledge, all of these items are in operating condition.

What is line 29 in a contract?

Line 29 is an opportunity for parties to insert other items included. The most frequent items we see at that line are, for example, above ground pools, pool tables and things of that nature. Line 30 is an opportunity for the Seller to put in items that are not included.