Real Estate Law

Property Purchase and SaleContinos Law

Property Purchase and Sale

Buying or selling a property involves several key steps:
Research: Determine your needs, research the market, and consult professionals.
Financing: Get pre-approved for a mortgage and explore financing options.
Property Search: Work with a real estate agent and attend open houses.
Making an Offer: Negotiate price and include contingencies.
Due Diligence: Conduct inspections and appraisals.
Closing: Sign documents, transfer title, and pay closing costs.
Key considerations: legal aspects, taxes, location, property condition, and negotiation.
Additional tips: do your homework, be patient, and seek professional advice.

Mortgage and RefinancingContinos Law

Mortgage and Refinancing

Lease AgreementsContinos Law

Lease Agreements

Lease Agreement: A legal contract outlining the terms and conditions of a rental agreement between a landlord and a tenant.
Key Elements:
- Parties Involved: Names of the landlord and tenant.
- Property Description: Address, type of property, and specific rental units.
- Term of Lease: Start and end dates of the lease agreement.
- Rent Amount: Monthly rent due and payment terms.
- Security Deposit: Amount of security deposit required.
- Utilities: Responsibilities for paying utilities (e.g., electricity, water, gas).
- Maintenance: Obligations of the landlord and tenant regarding property maintenance.
- Default: Consequences of non-payment of rent or violation of lease terms.

Title SearchesContinos Law

Title Searches

Title Search: A process to verify the ownership history of a property and identify any liens, encumbrances, or claims against it.
Importance:
- Clear Title: Ensures you're purchasing a property with no legal disputes or encumbrances.
- Avoiding Legal Issues: Prevents potential legal problems in the future.
- Financing: Lenders often require a clear title before approving a mortgage.
How Title Searches Work:
- Public Records: Title search companies examine public records to trace the property's ownership history.
- Liens and Encumbrances: They identify any liens (e.g., mortgages, taxes) or encumbrances (e.g., easements, restrictions) affecting the property.
- Chain of Title: They verify the unbroken chain of ownership from the original grant to the current seller.

Mortgage and Refinancing: A Quick Guide