Real Estate Law Lawyers
Cape Coral, Lee County and all of Southwest Florida
Are real estate laws different for individuals than for corporations?
There is no easy answer to this question. The requirements of any real estate purchase are governed mostly by the contract you signed in purchasing the property, which is why you should have an experienced real estate attorney review your agreements before signing them.
What laws should I be aware of when I buy real estate?
When buying real estate, it is important to understand the sales contract. Below are a few of the questions we are asked when buying real estate: Is the property being sold in “as is” condition? What happens if there are liens on the property? Do I lose my deposit if I can’t get a loan? A real estate attorney will examine a proposed contract or draft one that meets your needs.
What do I need to do to keep my property from being foreclosed on?
The simplest way to keep from ever losing your property through foreclosure is to pay your mortgage in full and on time every month. As long as you are meeting the requirements outlined in your loan agreement, the lender has no legal right to foreclose on your property. You should be aware, however, that the willingness of a lender to open a second mortgage or a line of credit on your home does not mean your home will sell for the amount borrowed on it. Particularly in cases of a line of credit or second mortgage, it is possible for a lender to offer you a loan which exceeds the amount your house would sell for on the market. While appraisals are meant to determine the value of a home, economic trends and demand for homes like yours determine how much buyers are actually willing to pay for a home.
You should also understand that Adjustable Rate Mortgages (ARMs) allow your lender to change the interest rate on your loan, and can potentially increase your payments by several hundred dollars a month.
Do real estate laws change?
Real estate laws are subject to change just like any other laws. That is why you should work with an experienced attorney whose job it is to keep up to date on the most recent changes and new laws that can affect you while purchasing or selling real estate.
If you are in Lee County, Cape Coral or anywhere in Southwest Florida and have questions about real estate laws, please contact Lusk, Drasites, Tolisano & Smith, P.A., and find out how to protect your property rights.
