SOUTH FLORIDA REAL ESTATE LAWYER

 

While living in Miami and South Florida is a dream to many,  buying a home and purchasing real estate is a scarry decision, and  often is one of the biggest purchases you will make in your life.  Walking into the unknown, anything could  go wrong.  That is why you should seriously consider hiring a local real estate attorney in Miami. You should also consider a real estate attorney should you wish to sell your home.

Whether you are buying or selling real estate, you will likely be required to sign a contract.  And when signing a contract,  if you don’t have a competent real estate lawyer representing you and watching your back, you could be presented with a series of issues  that you don’t know how to handle.  Only a competent real estate lawyer can sort out contracts and contract law. For example, what goes into the contract for sale? Is it possible for the seller to stay in the house for a given period after the sale date? Who is responsible for any losses due to damage after the buyer has made a cash deposit.

Most people hire a real estate broker or realtor,  without realizing the broker is paid by the seller and has a duty to protect the seller’s interests and not yours.

A real estate attorney in Miami, on the other hand is there to work for you and to protect your interests only.

Most real estate attorneys will assist you in every single aspect of your home purchase. This might include negotiations about the price. The terms to be finally included in the contract for sale, and a host of other details that need to be sorted and concluded, before the closing date.

A real estate attorney in Miami can assist the purchaser, buyer or seller in matters including drafting, reviewing, and inserting clauses to protect the buyer during negotiations and supporting the seller in negotiations if required.   Other services we offer include:

  1. Checking mortgage documents for any hidden terms the buyer will need to know about to make an informed decision.
  2. A real estate lawyer can also help in negotiating the mortgage terms with the lender or bank.
  3. Reviewing the inspection reports required by all mortgage companies, and renegotiating the price based on such inspection reports and its findings.
  4. Checking the title for encumbrances to ensure there are no others who hold an interest in the home and could be in a senior position to the seller. The lawyer will endeavor to ensure the buyer gets full title to the property before any closing documents are signed.
  5. Purchasing title insurance; this will protect the buyer should someone own a senior interest in the property that was not uncovered in the title search.
  6. Help the buyer understand the necessary surveys of the property.
  7. Overseeing the closing documents, and making sure that the closing goes without hitch and on time.
  8. Recording the deeds and the mortgage documents.
  9. A  real estate attorney in Miami will stand by after closure should any issues arise once the buyer has moved into the property. He or she may also advise on matters such as the $50,000 Florida Homestead Exemption.

A seller of real estate would be advised to enlist the services of a real estate attorney to protect their interests, from negotiations through to closing.

Buying a property is a huge investment and it is vital all legal matters are dealt with by professional real estate lawyers, to ensure everything goes as smoothly as possible, and there are no surprises after the sale or purchase has gone through.

“The Law office of Jacqueline A. Salcines, P.A.  offers free legal advice.  In order to have your matter considered, call us.  Or come and interact with us on Facebook, Instagram and Twitter.”

The Law Offices of Jacqueline Salcines offers cost effective services designed to meet your individual needs and requirements. For strong legal representation, call us at (305) 669-5280 today! Attorney Jacqueline Salcines  has been handling all your real estate and business law needs  for over 20 years.

 Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280

Email:  J.Salcines@Salcineslaw.com

SOUTH FLORIDA SHORT SALE ATTORNEYS

REAL ESTATE LAW

Short Sales, where the mortgage company agrees to accept a “short” payoff of their mortgage (less to pay off the mortgage then what is owed) are experiencing a comeback.  Perhaps it is the fact that second lenders are filing foreclosure actions at higher speeds, or the statute of limitations is running on mortgages, whatever the cause, short sales are slowly increasing.

In a short sale, the homeowner lists the property for sale at a price lower then what is owed to the mortgage company.  The balance to the mortgage company is then negotiated so that the lender accepts the sales price, pays the borrowers closing costs and the borrower’s mortgage debt or balance is forgiven.

A true short sale, done accurately and proficiently will erase the mortgage balance AND the lender will agree to waive or never collect the balance of the mortgage. This is true whether Property values and real estate sales in South Florida and across almost all parts of the country  are thriving.  However, for a select few, short sales still linger.  Many lines of credits with ten-year and 5-year maturity dates are beginning to mature, causing homeowner mortgage payments to rise significantly, wherein the borrower/homeowner can no longer afford their mortgage payments.

Even if home values remain on the increase, if a homeowner can no longer afford their payment, they may try to short sale or modify their loan to see if they can save the home or exit gracefully.

At the Law Offices of Jacqueline A. Salcines, P.A., our lead attorney brings extensive knowledge and expertise in the field of negotiating short sales and loan modifications.  We have an in-house short sale and loss mitigation department headed by managers with extensive experience. Jacqueline Salcines, Esq.is also an attorney, title agent and accountant, able to handle the full transaction without having to contract any outside services, saving the borrower money.    We are here to help iron out issues and move the transaction from imminent default to resolution.

With prompt intervention to resolve disputes amicably, without the need to litigate,  we are here to get borrowers the results they desire. Call us today to see what we can do for you.

For more than 18 years, Jacqueline Salcines has been practicing law with the need of her clients first.  Upon calling the firm you get the feel of how the client is our first priority.  We are here to help you with your purchase or sale and do so with hands-on legal experience.

Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280

Nothing quite compares to owning your own home or investing in real estate.  In fact, for many, this is the single most expensive investment made in their lifetime.  And Florida’s residential and commercial real estate markets have certainly experienced an incredible turn around and appreciation from just 4 to 5 years back.  And  yet, with real estate being one of the most ways to obtain a high return on investment, not all potential buyers entering the real estate market have the know how or financial capacity to buy real estate.

When first entering the real estate market, the best advice is to hire a real estate attorney to have in your corner, not only to protect you when entering into the contract, but to assist with your financing, pre-approval and locating a property as well.

If your purchase requires financing, the first thing to do is fix your credit as much as possible. Once your credit is good, you can either go to a local bank or mortgage broker to see what amounts you qualify for.  Knowing this will narrow your search for properties and zip codes.

Once you know how much you are eligible to borrower, it then turns on locating the property that fits your needs.  You can enlist the services of a realtor or a real estate attorney acting as a realtor, as we are, in order to locate properties on the MLX and set up viewings. After you select a property, the remainder gets complicated.  You will have contract offers, and down payments, reviews of sellers disclosures and inspections.

The list goes on and on.  And the best advice is always, hire an attorney to hold your hand and walk you through it.

Hand with a house key.

At the Law Offices of Jacqueline A. Salcines, PA we make purchasing your home easy.  We will guide you through the whole process, from contract preparation to closing. we are there for our clients.

office_outside-med

At the Law Offices of Jacqueline A. Salcines, PA, our real estate lawyers help business owners, individuals, buyers, sellers, tenants, landlords, and investors. We provide sound business advice to people and businesses looking to invest in real estate, real estate development, property management, lending, and property ownership.  Our law firm represents individuals and businesses in South Florida, throughout Miami-Dade, Broward, Monroe and Palm Beach Counties in real estate matters.

Call us today for a free consultation.

We are always a phone call away.  Tel. 305.669.5280

Or email us with your questions.  J.Salcines@Salcineslaw.com

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Loan Modification Green Road Sign with dramatic clouds and sky.The Government has announced that the Home Affordable Refinance Program (HARP) and the Home Affordable Modification Program (HAMP) will be extended until the end of 2016.

HAMP provides modifications for homeowners that are  facing hardships and can no longer afford their mortgages.

In order to qualify for a loan modification under HAMP, the guidelines are strict and  require a homeowner to have income (although disability and unemployment qualify).  Once qualified, HAMP is a loan modification program that can lower interest rate to 2%, and significantly  lower homeowners  monthly mortgage payments.

At the law firm of Jacqueline Salcines, PA we handle homeowner qualification for HAMP since the program was initiated in 2009.   We are keenly aware and have programs to qualify borrowers, while they continue to face the challenges of paying their mortgage or refinancing their loans.

Our HAMP experience has been obtained by working closely with lenders and  borrowers, in both the mortgage and real estate arena, to represent them in litigation involving foreclosures and loss mitigation options.

South Florida Loan Modification and Foreclosure Lawyers

Many homeowners do not know they have options when their properties are underwater.  Since 2009,  HAMP has been successful at providing relies for hundreds of thousands of homeowners and frankly is the best program to qualify for.  The fact that the government has elected to extend HAMP for Homeowners is wonderful news.

The most important thing a homeowner can do is hire an attorney to qualify them prior to submitting any loan modification application. By qualifying you up front, a HAMP modification becomes streamlined and often approved quickly.

If you need assistance to see if you qualify, call us today.

 Or email attorney Jacqueline Salcines directly  at J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280
EMAIL: J.SALCINES@SALCINESLAW.COM
Law Offices of Jacqueline A. Salcines, P.A.

Law Offices of Jacqueline A. Salcines, P.A.

2014 is the YEAR OF THE SELLER in Miami-Dade and Broward counties.  There are more buyers then inventory of properties on the market.  A sellers market therefore makes hiring the services of an experienced team of realtor and real estate attorney/title agent more crucial then ever.  Buyers and investors want to get properties at the discounted prices they were used to in the years 2009 through 2013.  However, with a seller market, comes the homework a seller must do to make sure the property is accurately priced to sustain a buyer and get to the closing table.

The first and most important task is finding the right realtor.  This alone can make a huge difference between someone hard at work to list, market and sell your property, so that the number of days on the market are minimized.  Once a realtor is picked and the property is listed, hiring a real estate attorney is also a necessity.  A real estate attorney hard at work for you will review and check the contract provisions, and provide advice as well as negotiate any terms between the seller and buyer.  A real estate attorney will also make sure all contract deadlines are strictly abided by, including deadlines for inspections, financing, as well as hold the deposits in escrow till closing.

Once the contract is signed, many issues can arise between contract and closing.  Many properties are subject to appraisal contingencies and when the buyers lender appraisal comes back lower then the purchase price, the sellers team of realtor and attorney needs to be ready to fight for that price.  This requires solid comparables to dispute value.  Often the mere wording of a contract stating that it is not subject to appraisal can avoid the entire contract falling through if an appraisal falls short by the buyers lender.

Lien searches can also reveal open permits or liens and/or violations that must be closed by the seller prior to closing.  Often times these can be negotiated or closed out for less then required.  However, it requires the savvy work of the real estate attorney to get this done for the seller.

Commercial sellers and sellers that hold title either in a Trust, LLC or corporation, also require additional Corporate Resolutions and or Trust Affidavits at closing to ensure that the closing is authorized by the entity.  A real estate attorney prepares all these forms on behalf of the seller in order to make sure the conveyance is legitimate.

Foreign sellers are also subject to a 10% withholding at the time of sale, unless exempt.  Often, some attorneys may not be clear on diplomatic exemptions or other that exist which do not require the FIRPTA withholding. This is information that either a title company or real estate agent may not know and be familiar with.

At the Law Offices of Jacqueline A. Salcines, PA, our mission is to provide our clients with outstanding legal services that consistently exceed their expectations.  Our law practice is dedicated to all aspects of the real estate transaction including title services, legal services and advice,  lien search services, estoppel services, escrow services.

Attorney Jacqueline A. Salcines, Esq, is also an Accountant and therefore can provide solid advice regarding incorporating, tax repercussions or other considerations  for the seller, specifically foreign sellers, at the time of closing.

We take pride in our ability to address your legal needs and resolve your legal matters, whether selling, buying, investing or merely shopping around.  We strive to fully understand our client’s objectives and are committed to providing outstanding and sound legal and tax advice.

Call us today for a free consultation and let us put our expertise to work for you.   Offices located in Coral Gables.

TRUST  |  COMMITMENT  |  RESULTS

 
LAW OFFICES OF JACQUELINE A. SALCINES, P.A.

Jacqueline A. Salcines

Jacqueline A. Salcines

706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL.  305.669.5280
EMAIL US DIRECTLY:  J.SALCINES@SALCINESLAW.COM

 

Hand with a house key.IN THIS DAY AND AGE, AFTER THE MORTGAGE CRISIS, IT IS A CRAZY THOUGHT TO ENTER INTO A PURCHASE SALES CONTRACT TO BUY A PROPERTY WIHTOUT ENLISTING THE ASSISTANCE AND ADVICE OF A REAL ESTATE ATTORNEY.  ALMOST 50 PERCENT OF ALL HOMES HAVE BEEN AFFECTED BY THIS MORTGAGE CRISIS, EQUATING TO ISSUES ON TITLE, MORTGAGE ASSIGNMENTS NOT BEING RECORDED, LOST OR UNASSIGNED MORTGAGES WHEREIN THE LENDER IS IMPOSSIBLE TO REACH, OR TITLE ISSUES ARISING WITH THE DEED.

AN ATTORNEY TO ASSIST AT CLOSING IS MORE AFFORDABLE THAN YOU THINK. AND OFFERS THE MUCH NEEDED THOROUGH LOOK THROUGH AND EXAMINATION OF TITLE AS WELL AS CODE VIOLATIONS, LIENS AND OTHER ITEMS THAT COME UP DURING CLOSING.  IF YOU SIMPLY RELY ON A TITLE COMPANY THAT REPRESENTS THE SELLER OR A TITLE COMPANY THAT DOES NOT HAVE AN ATTORNEY BACKING IT, YOU ARE RUNNING THE RISK THAT ISSUES MAY ARISE RIGHT BEFORE CLOSING, WHEREIN YOUR DEPOSIT MAY BE AT RISK OR WORSE, AFTER CLOSING, WHEN YOU HAVE ALREADY SIGNED AND THE PROPERTY AND PROBLEMS ARE NOW YOURS.

AT MY FIRM, WE ASSIST BUYERS AND SELLERS ALIKE, WITH ALL THEIR REAL ESTATE AND TITLE NEEDS.  AS A TITLE AGENT ATTORNEY, JACQUELINE A. SALCINES, ESQ. EXAMINES TITLE AND REVIEWS ALL ISSUES TO FIND THEIR SOLUTION PRIOR TO CLOSING.  WE CAN NOT CLOSE IF AN ISSUE ARISES ON TITLE THAT IS NOT RESOLVED. IT IS UP TO THE SELLER TO CURE ALL TITLE ISSUES PRIOR TO CLOSING.

Jacqueline A. Salcines

Jacqueline A. Salcines

WE ALSO EXAMINE OPEN LIENS, OPEN PERMITS, AND ALL LIENS AND JUDGMENTS THAT COULD AFFECT THE BUYER, TO RESOLVE THEM PRIOR TO CLOSING.

FOR A NOMINAL FEE, WE ARE THERE WITH YOU EVERY STEP OF THE WAY.  WE ALSO PREPARE THE HUD SETTLEMENT STATEMENTS MAKING SURE YOU PAY ONLY WHAT IS REQUIRED OF YOU AT CLOSING.

TAXES ARE ANOTHER ISSUES THAT MUST BE DEALT WITH.  MANY TAXES IN FORECLOSURES WENT UNPAID FOR YEARS, RESULTING IN TAX DEED SALES AND UNPAID OR LATE PROPERTY TAXES. THIS MUST ALSO BE REVIEWED PRIOR TO CLOSING TO SEE WHAT AMOUNTS THE SELLER IS RESPONSIBLE FOR AND TO MAKE SURE THAT AS THE BUYER, YOU START OFF WITH A ZERO BALANCE AND NO UNPAID TAXES LINGERING OVER YOU.

CALL US TODAY FOR A FREE APPOINTMENT. WE CAN REVIEW YOUR CONTRACT AND PROVIDE SOUND LEGAL AND TAX ADVICE.

THE FIRST CONSULTATION IS ALWAYS AT NO COST AND CAN PROVIDE SOLID PEACE OFMIND IN TODAYS ERA OF UNKNOWNS.

 

TRUST   |    COMMITMENT   |    RESULTS

 

JACQUELINE A. SALCNES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL.  305.669.5280
EMAIL:  J.SALCINES@SALCINESLAW.COM
Jacqueline A. Salcines

Jacqueline A. Salcines

WHETHER YOU ARE BUYING OR SELLING REAL ESTATE… THE MARKET IS HOT!!  WE ARE BACK TO THE DAYS OF THE BIDDING CASH WARS, WITH BUYERS PLACING OFFERS AT OVER LISTING PRICE, AND SELLERS CHOOSING THEIR BUYER FROM MANY A POOL OF EAGER TAKERS.

HOWEVER, IN THE TAIL END OF THE FINANCIAL FORECLOSURE CRISIS, WITH SO MANY PROPERTIES PURCHASED AT AUCTION, WITH MORTGAGE AND ASSIGNMENT ISSUES, FRAUDULENT DOCUMENTS SIGNED, LAW FIRMS THAT FORGED INSTRUMENTS, AND SO MANY TITLE ISSUES, IT MAKES SENSE TO NOT GO IT ALONE.HAVING A REAL ESTATE ATTORNEY IN YOUR CORNER IS THE SINGLE MOST IMPORTANT DECISION YOU CAN MAKE. A REAL ESTATE ATTORNEY THAT IS BOTH A TITLE AGENT AND ACCOUNTANT WILL LOOK OUT FOR YOUR INTERESTS, WILL EXAMINE TITLE, MAKE SURE THAT THE CHAIN OF TITLE IS CLEAN FOR YOUR SALE OR PURCHASE, SO THAT PROBLEMS DO NOT ARISE AFTER CLOSING THAT MAY COME BACK AFTER TO HAUNT YOU.

AT THE LAW OFFICES OF JACQUELINE A. SALCINES, THE ATTORNEY HAS OVER 18 YEARS EXPERIENCE AS A REAL ESTATE LAWYER AND ACOCUNTANT.  WE ARE ALSO TITLE AGENTS WRITING FOR ATTORNEYS TITLE AND OLD REPUBLIC NATIONAL TITLE, THE LARGEST UNDERWRITER IN FLORIDA.

WE ARE A FULL SERVICE REAL ESTATE LAW FIRM PROVIDING:

  • CONTRACT AND DOCUMENT REVIEW
  • TITLE SERVICES
  • SELLER DOC PREP
  • MORTGAGE AND NOTE PREPARATION FOR SELLER FINANCING OR PRIVATE LENDERS

WE MARK AND WATCH ALL INSPECTION AND FINANCING DEADLINES AND GUIDE Y OU EVERY STEP OF THE WAY

WE ARE HERE TO SERVE  YOU.

CALL US TO SEE HOW WE CAN HELP YOU IN YOUR PURCHASE OR SALE.

THE FIRST CONSULTATION IS ALWAYS FREE.

DONT GO IT ALONE.  WE WELCOME THE OPPORTUNITY TO ASSIST YOU WITH ALL YOUR REAL ESTATE NEEDS.

 

TRUST  |   COMMITMENT  |  RESULTS

 
LAW OFFICES OF JACQUELINE A. SALCINES, P.A.backdrop2
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FLORIDA 33146
TEL.  305.669.5280
EMAIL: J.SALCINES@SALCINESLAW.COM

 

Home For Sale Real Estate Sign in Front of Beautiful New House.The South Florida housing market, as well as that across the country, has witnessed double digit price increases over the span of a year, from 2012 to 2013.   In fact, industry leaders and professional claim that we are in or entering another bubble in South Florida, due to the lack of inventory.  It is a sellers market once again, with homes being listed for sale and obtaining numerous contracts, at asking price, within hours of hitting the real estate market.  This is particularly true in cities such as Coral Gables, Coconut Grove, Pinecrest and other Miami Dade County areas.

The question for Sellers and Buyers alike then becomes, should we list? Should be buy now?  Or should be wait and see if prices flatten out?  Everyone would love to have the answer to this but unfortunately, all we can do is predict.

According to the CoreLogic Case-Shiller Price Indexes, price appreciation is expted to fall out of the double digits, reaching 5.4 percent by the beginning of 2014. And wil continue to drop off even further to 3.4 percent over the next 5 years.

The housing market has witnessed over the past year, increase in housing construction, and all time low inventory.  This will affect home prices for a time to come.  However, in recent months, we have seen investor demand waning, and not steady or increasing as the beginning of 2013.

With this information, the most important bit of advice for any investor, seller or buyer in this market, is to hire the services of a professional real estate attorney and realtor to make sure that the property is priced right, whether buying or selling.

As a real estate attorney, accountant, and realtor, Jacqueline A. Salcines, Esq. provides sound advice for investors and sellers alike.

Call us today for a free consultation.  Or email us at J.Salcines@Salcineslaw.com

TRUST  |    COMMITMENT  |  RESULTS

 
LAW OFFICES OF JACQUELINE A. SALCINES, PA
706 S. DIXIE HIGHWAY
2ND FLOOR
CORAL GABLES, FL 33146
TEL:  (305) 669-5280

 

 

Hand with a house key.This is the first of an informational series to provide Seller and Buyers alike with the necessary tools and know-how to make their sale or purchase of real estate a smooth transaction.  I hear it often from clients.  This real estate business is so stressful. Should you sell now with property values rising?  Should the Contract for Sale and Purchase be reviewed by a real estate attorney before or after it is signed?  What if you sign and then something needs to be changed? Are you bound by the terms?  Is there a three day recission period?  All valid questions.

And while we know that selling and buying real estate can be a daunting task, we at The Law Offices of Jacqueline A. Salcines dedicate our practice to REAL ESTATE LAW.  We are here to take the stress out of the transaction for you so that you can rest, relax, close and get on with your life.

Sellers for the most part have it easy.  You name your price.  Sign up with a realtor.  Sign a contract. Wait for closing.  Show up.  Sign. Get paid!.

Well…NOT SO FAST!  Many sellers don’t know that they can obtain the services of their own real estate attorney to represent them in the sale.  Although the buyer usually says Oh… don’t worry. My attorney or my title company will prepare your documents,  SELLER BEWARE!  When the buyers title company represents the buyer, it is doing just that, only guarding the buyers interests.  The buyers title company will prepare and examine title for the buyer and though the seller will be charged regardless for their services, they  DO NOT REPRESENT THE SELLER.  Yes. You heard correctly. You will get charged a fee but the DO NOT REPRESENT YOU.  Their interests and loyalty lies with the buyer.  Therefore, I don’t know about you, but when you are selling what may be the largest investment of your life, this is a big deal, I want someone in my corner looking out for and protecting my interests.

Sellers are not aware that while the title company should order a lien search to see whether there are any open code violations, or liens, if the title company does not order one, or orders one but does not review it properly, the transaction may close but the seller is on the hook… even 10 years later.  If the buyers title company does a shoddy job, then the seller may buy itself a lawsuit.  And good luck finding that title company ten years later.

Secondly, many sellers don’t know that under the contract, there are certain costs that the buyer is required to pick up. Many a time, I have seen HUD-1 Settlement Statements on transactions that have closed wherein the seller was charged with a title search or other costs, that the buyer should have paid.  Remember, the title company is looking out for the buyer. And quite frankly, with nobody in the seller’s corner, how do they know the difference.

Usual seller costs as closing consist of the following:

  • Documentary stamp taxes on the deed (.60 cents for every $100.00 sale price in Dade and .70 cents in Broward)
  • Lien Search/Lien Letters
  • Wire Fee
  • Title Search (a discount is usually provided when the prior policy is provided. Again, something that is not told).
  • Estoppel fees for any Homeowner or Condo Assn.
  • Prorated taxes from January 1st to date of closing
  • Past due HOA or Condo Dues

While many Sellers don’t know how to read a HUD, the title company may overcharge or charge items to the seller that do not pertain to the seller.  Or, they may undercharge for taxes. How do you know if the right number was used for the proration.  Any error may result in less money paid to the Seller at the time of closing.

Sellers are also required to provide a payoff statement of their mortgage.  This is something that again, the title company for the buyer may request but WILL NOT review.  So if your lender is overcharging you or not providing adequate credit for payments made, they will not alert you. You are on your own.

For these reasons, and many more, it makes sense to hire the services of a professional real estate lawyer.

A real estate lawyer will protect your interests, make sure that once you close,  you are really done with the transaction. Not leave anything open that may result in the file being reopened or a lawsuit against you.  And will make sure that the figures on the HUD are correct and you get monies that are rightfully yours.

For a small fee, usually less than the title company is charging you to prepare your seller documents, you can have the expertise and experience of a real estate attorney in your corner.  For what is usually the larges purchase or sale one ever makes in their life, it makes no sense to go it alone.

Trust the Law Offices of Jacqueline A. Salcines, PA to protect you and your largest asset.

Visit us on the web:   WWW.SalcinesLAw.com

Offices in Coral Gables.

706 S. Dixie Highway

Second Floor

Coral Gables, FL  33146

Telephone:  (305) 669.5280

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short_saleIf you are like many out there that are struggling to make your mortgage payments and have an FHA loan, there is good news.  The government has rolled out a new program that Pre-Approves Short Sale prices for homes where the loans are backed by FHA.  In order to qualify, you will first need to make sure that your loan is an FHA loan.  This is easily determined by either looking at your mortgage statement or your closing statement.  If you are charged and pay PMI mortgage insurance, then you have an FHA loan.  Otherwise, you can call your lender or servicer and they will indicate whether it is an FHA loan.

ELIGIBITLY

The difference between this Pre-Approved FHA SHORT SALE  and a traditional short sale, is that the borrower is not required to have a contract  for Sale and Purchase in order for the lender to start working the file. Rather, the borrower can contact us to apply for the short sale, we will request from the borrower and submit financial documents to substantiate the financial hardship. Once the  lender has the borrower’s financial information, they will order an appraisal by and FHA certified appraiser that will determine price.  Once the fair market value is determine and the lender further determines what they need to net from the short sale, an approval letter is sent out to us with the listing price, or minimum they will accept.  ITS THAT EASY!

TIMELINE

From beginning to end, the process is taking between 30 to 40 days and is hassle free.  Moreover, it takes the work away from the realtors of having to play with the numbers and comparables, since the bank will advise what number they  need to net from the short sale closing.

MONEY GIVEN TO BORROWER

And even greater news is that the borrowers usually obtain a $1,000.00 incentive check for their own moving expenses.

There are other qualifications that are required of the borrowers.  We invite you to call our office to discuss your options and allow us to negotiate your short sale for you.

The Law Offices of Jacqueline A. Salcines, PA,

706 South Dixie Highway, Second Floor, Coral Gables, FL 33146

Telephone  305 .  669  .  5280       Email:  J.Salcines@Salcineslaw.com

TRUST    |      COMMITMENT    |    RESULTS