Real estate advisers often have interests that don't align with their client. Attorney David Soble offers a brief review of potential conflicts that sellers and buyers of real estate should consider.
The lawyers at Cohen LLP have an extensive track record in corporate and commercial law, mergers and acquisitions, corporate governance, residential real estate, corporate relocations, and Wills and Estates. Contact at (416) 380-7550
Based in East Rockaway, New York, Marc Rovner is an attorney focused on real estate title insurance. Attorney Marc Rovner has a particular focus on indemnity insurance and property title defects, and has taught continuing legal education classes in the area of title insurance.
As detailed in an American Bar Association article, title insurance protects the insured party only as far as covered title defects go. In cases where such a defect has been resolved by the insurer, there is no further obligation or compensation due to the insured for that issue.
In Golden First Mortgage Corp. v. Alleyne, an owner obtained title and mortgage on a property, but the mortgage and deed were somehow not recorded. Upon ascertaining this, the lender initiated an action to have an equitable mortgage placed on the property, or, if necessary, have the seller draw up a replacement deed. After being recorded, the insured owner/borrower would be able to execute a replacement mortgage.
The owner went a different route than filing a claim for coverage with the insurer, and instead filed a third-party complaint, seeking damages from the title insurer for failure to receive good title on the property. Ultimately, the court decided that a new mortgage and deed should be recorded as a way of remediating the title defect.
The court agreed with the title insurer that this new deed cured the defect in the owner’s title, as title insurance only indemnifies (compensates for harm or loss) against diminished property value from title defects, and doesn’t cover consequential damages. In other words, once the title insurer establishes that the owner-insured has title over the property, there isn’t any further obligation to pay for losses under the policy.
The lawyers at Cohen LLP have an extensive track record in corporate and commercial law, mergers and acquisitions, corporate governance, residential real estate, corporate relocations, and Wills and Estates. Contact at (416) 380-7550
Based in East Rockaway, New York, Marc Rovner is an attorney focused on real estate title insurance. Attorney Marc Rovner has a particular focus on indemnity insurance and property title defects, and has taught continuing legal education classes in the area of title insurance.
As detailed in an American Bar Association article, title insurance protects the insured party only as far as covered title defects go. In cases where such a defect has been resolved by the insurer, there is no further obligation or compensation due to the insured for that issue.
In Golden First Mortgage Corp. v. Alleyne, an owner obtained title and mortgage on a property, but the mortgage and deed were somehow not recorded. Upon ascertaining this, the lender initiated an action to have an equitable mortgage placed on the property, or, if necessary, have the seller draw up a replacement deed. After being recorded, the insured owner/borrower would be able to execute a replacement mortgage.
The owner went a different route than filing a claim for coverage with the insurer, and instead filed a third-party complaint, seeking damages from the title insurer for failure to receive good title on the property. Ultimately, the court decided that a new mortgage and deed should be recorded as a way of remediating the title defect.
The court agreed with the title insurer that this new deed cured the defect in the owner’s title, as title insurance only indemnifies (compensates for harm or loss) against diminished property value from title defects, and doesn’t cover consequential damages. In other words, once the title insurer establishes that the owner-insured has title over the property, there isn’t any further obligation to pay for losses under the policy.
A slide share presentation on the process of buying a home. This is the process you'll step through from the time you hire you real estate agent to the time you close on your new home!.
Adam Leitman Bailey and Andrew Jorges were invited to lecture on Common Ways Deals Die and How Brokers Can Bring Them Back to Life for Town Residential.
A short tutorial on how to go about purchasing a home. The process includes choosing the right buyer's agent to represent you to closing costs, inspections and closing.
A slide share presentation on the process of buying a home. This is the process you'll step through from the time you hire you real estate agent to the time you close on your new home!.
Adam Leitman Bailey and Andrew Jorges were invited to lecture on Common Ways Deals Die and How Brokers Can Bring Them Back to Life for Town Residential.
A short tutorial on how to go about purchasing a home. The process includes choosing the right buyer's agent to represent you to closing costs, inspections and closing.
Not So Fast! Potential Conflicts of Interests In The Real Estate TransactionDavid Soble
Attorney David Soble provides a brief review of potential conflicts of interest that real estate advisers may have in the real estate transaction. Buyers and sellers will benefit from a quick overview of what to consider.
Buying Your Home Selttlement Costs and Helpful InformationMadonna Hartley
From The US Department of Housing and Urban Development-HUD.Obtaining a mortgage,settlement costs,defination of terms and other need to know information for the informed consumer.
RE/MAX Results complete buyers guide. Whether you are a first time home buyer or a seasoned veteran in home purchasing...this guide will give you a complete through understanding of the home buying process. If you are in the Greater Kansas City area and are remotely interested in Real Estate...this is a must have!
What is Caveat Emptor or Buyer Beware?Kevin Vitali
Caveat Emptor is an old common law term meaning let the buyer beware. Unbeknownst to a buyer a seller is under no obligation to to disclose the condition of their home to a potential buyer.
Hiring An Agent And Finding Deals - Updated 2/5/09Scott Schang
Hiring a Real Estate Agent is a serious and important financial decision.
We discuss how Real Estate Agents get paid, how to hire, what is an Agency relationship, what are the Fiduciary duties of an agent.
We also discuss the use of the internet to advertise homes for sale and collect information for sales call. We will show you how to find accurate information and avoid the high pressure sales calls that can follow if you fill out the wrong form.
10 Practical Steps of Home Buying Process. HOME BUYING: Master the Process. Learn the tips and secrets only realtors and lenders know!” What I learned closing 1,500 successful mortgage and real estate transactions worth over $1 BILLION!.
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Green Homes, Islamabad Presentation .pdfticktoktips
Green Homes Islamabad offers beautifully designed 5, 8, and 10 Marla homes near the airport and motorway. Enjoy luxury, convenience, and high rental returns in a prime location.
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BrickAndBolt
Load-bearing walls are the backbone of any home construction, providing crucial structural support that carries the weight of the house above. For companies like Brick and Bolt Mysore and Bricknbolt Faridabad, understanding and properly implementing these elements are key to constructing safe and durable buildings.
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...JagadishKR1
Immerse yourself in the epitome of luxury living at Urbanrise Paradise on Earth. These opulent 4 BHK villas, nestled off the prestigious Kanakapura Road in Bangalore, redefine elegance and sophistication. With meticulous craftsmanship, breathtaking design, and unparalleled amenities, Urbanrise Paradise on Earth offers a sanctuary where every moment is infused with luxury and serenity. Experience a life of grandeur and indulgence at this exclusive residential enclave.
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
2. As if purchasing or refinancing a
home wasn’t stressful enough, the
key professional players in a real
estate transaction don’t necessarily
have their client’s best interest in
mind, according to real estate and
finance attorney David Soble of
Proven Resource. Contractual
limitations, professional conflicts of
interest, and lack of proper professional
guidance are prevalent throughout the
real estate transaction.
ProvenResource.com
3.
4. First, never waive the right to a home
inspection.
ProvenResource.com
Second, purchasers should select
their own home inspector.
Third, avoid blurring the distinction
between an appraisal and an
inspection.
HOME INSPECTORS
5. An appraisal is a professional opinion
as to the value of the subject property.
ProvenResource.com
While the appraiser may note
deficiencies in the property’s condition,
it cannot ever be mistaken for a home
inspection.
An inspection should consist of a
thorough examination of a homes
mechanical and structural condition.
HOME INSPECTORS
6. A home inspectors liability is often
limited to the cost of the inspection
itself, and no more.
ProvenResource.com
So an inspector who fails to note a leaky
roof may only be liable for $300, the
average cost of an inspection.
Therefore, if a specific item is
questionable, call on a licensed
contractor to delve further and give
you peace of mind.
HOME INSPECTORS
7. It is not surprising that many legal issues
involved with real estate transactions
involve the real estate agent as they are the
center of the transaction.
ProvenResource.com
But understand an agents limitations. Work
with a buyers agent or sellers real estate
agent, but not both.
Known as a "dual agent", the real estate
agent is responsible for representing both
parties.
REAL ESTATE AGENTS
8. There is absolutely no way that a
professional can represent the
competing interest of a buyer and seller.
ProvenResource.com
Purchasers can remove the potential for
conflict of interest by hiring their own
buyer’s agent.
Finally, understand that a sellers agent
has their professional duty to the seller.
Not the buyer.
REAL ESTATE AGENTS
So tread carefully. Purchasers should not
disclose information to a sellers agent
that they don't want the seller to know.
9. Residential lenders are required to
disclose all of the third party vendors
that they intend to use in a transaction.
ProvenResource.com
Appraisers and title companies are third
party vendors and loan applicants are not
legally required to use them.
Find a licensed appraiser or title
company before you apply for your
mortgage.
LENDING OFFICERS
10. Also, get "pre-approved" by a lender
before going house hunting.
ProvenResource.com
Purchasers should avoid using the real
estate agents lender referral unless they
are having difficulty securing a mortgage
on their own.
Loan officers often rely on referrals
from agents and they can, and will
discuss your finances and credit with
the agent.
LENDING OFFICERS
11. Buying a home requires home insurance.
After closing on the property, keep the
insurance agent informed of significant
changes planned for the home.
ProvenResource.com
When making any material structural changes
that involves wiring or plumbing, or any other
change that requires pulling a building permit,
don’t skimp, pull the permit.
No matter how handy a homeowner may be,
if there is a fire, flood or other home disaster,
the insurance company could deny your
claim because your improvements were
done without a permit.
INSURANCE AGENTS
This is true even when homeowner repairs
were not the direct cause of a structural
problem.
12. It is standard in the real estate industry to
secure title insurance with a home sale or
refinance. In a sale, the seller customarily
pays for an owners policy for the buyer equal
to the purchase price.
ProvenResource.com
If the buyer financed the purchase, then a
lender’s policy in the amount of the mortgage
is paid for by the buyer.
Review the title policy. Title insurance has
exceptions and exclusions which is based
upon what is revealed in the public real
estate records.
TITLE AGENTS
A buyer needs to know these exceptions as it
could impede their ability to sell their
property in the future.
13. Moreover, when a buyer purchases a home
below market value, they should purchase title
insurance equal to the home value, not the
purchase price.
ProvenResource.com
For example, a buyer who purchases a home
for $75,000 and valued at $100,000, would
be exposed to $25000 in the event of a title
claim. No one is ever precluded from
purchasing more title coverage.
Finally, If there is a title issue, consult with a
real estate attorney as no other real estate
professional is qualified to comment on the
legal consequences of clouded title.
TITLE AGENTS
14. While is sounds self -serving, for most people,
purchasing real estate is one of life’s most
significant legal and financial transactions.
ProvenResource.com
Hiring a real estate agent costs about 3 to 6
percent of a home’s purchase price. Secure
home financing cost anywhere from 1 to 3
percent of the loan amount.
Why people sign a purchase agreement, a
mortgage loan agreement, or sign off on
warranties, title schedules, insurance
declarations, or other various third party
legal agreements, without the expertise of a
real estate attorney, is puzzling.
REAL ESTATE ATTORNEYS
15. ProvenResource.com
Real estate transactions are all about legal contracts
in the end. A loan officer is not an attorney. A real
estate agent is not attorney. A neighbor or cousin, may
or may not be an attorney. Don’t skimp. And when any
real estate professionals pushes or "encourages" a
home buyer to forgo legal advice, then that in itself is a
pretty good sign that a real estate attorney is needed.
READ MORE ABOUT FINANCIAL RELIEF HERE:
http://www.provenresource.com/
16. Since 1990, attorney David Soble has represented
lenders, loan servicers, consumers and business
owners in real estate, finance and compliance matters.
For over 25 years, he has been involved in thousands
of real estate transactions and has successfully
negotiated and saved millions for his business and
consumer clients.
ABOUT THE AUTHOR
ProvenResource.com
31800 Northwestern Hwy.
Suite 350
Farmington Hills, MI 48334
Phone: (888) 789-1715
Disclaimer: You should not rely or act upon the contents of this article without seeking advice from your own, qualified attorney.