Eviction and Foreclosures Are Scary Situations; Get the Help You Need

Foreclosure

eviction processEveryone’s situation is different regarding home ownership. You may be financially secure and capable of supporting yourself and maintaining a home, but then, all of a sudden, life happens and you face some very serious problems.

In 2013, one out of every 96 residences reported, at least, one foreclosure. These things happen, but they don’t have to be the end of the world. If you’re struggling, get the necessary help you need to make these difficult times, like going through the eviction process or foreclosure process, as stress-free as possible.

Evictions
Getting help from a real estate law firm that will lead you to a professional real estate attorney can be all the help that you need. They are experienced in dealing with evictions and can guide you through the entire eviction process.

Once the eviction process reaches a court setting, a judge will decide the case, on average, within 20 days after the original tenant filed the request. Real estate attorneys are knowledgeable on the important aspects of these issues and can help get you through this hard time.

Foreclosures
Out of every 200 homes, one will be foreclosed upon. There are state laws and regulations that require proper notices to be given to the homeowners and given enough opportunities to pay before the property is foreclosed and sold. Knowing when your home is at risk of foreclosure is essential so you will be prepared enough to contact a real estate attorney and consult with them. They will guide you on where to go from here and show you all the necessary steps to getting back on your feet.

For homeowners, going through evictions or foreclosures can seem like it’s the worst feeling in the world, but it’s important to remain calm in these situations and know there are always ways of bettering your situation. Professional real estate law firms offer guidance and support to homeowners who are going through these tough times. Consulting with a real estate attorney can make these horrible situations a little better.

If you have any questions or concerns, consult a real estate attorney today!

When to Consult a Real Estate Law Firm

Real Estate Laws

zoning restrictionsConsidering the fact that the median sales price for a home in California is around $390,000, it’s no wonder that there are a lot of precautions involved in the California real estate industry — foreclosure requirements, zoning restrictions, building code violations, and many more issues. Consulting a real estate law firm can be just what you need to avoid any future problems, but there are also a few things you should be aware of just in case:

Foreclosures

  • In 2013, one out of every 96 homes reported at least one foreclose.

  • Nearly one out of every 200 homes will be foreclosed.

  • Because state laws have strict regulations, homeowners need to be notified of potential foreclosures and opportunities to pay before the property is actually foreclosed.

  • If you believe that your home is at risk of being foreclosed, consult a real estate law firm immediately.

California Law

  • Any property that is abandoned, according to title 10 of the California civil procedures code, is classified as “unclaimed property.” Property can remain unclaimed for three years. After that time — if no one claims the property — it transfers to the possession of the California government.
  • California landlords must provide at least 60 days notice to a tenant about evicting them if they have lived on that property for more than one year.

  • Real estate agents are required to disclose any deaths that occurred on a property within three years before the sale, according to California law.

  • In California, it normally takes about 40 days to close on a house.

General

  • Boundary disputes play a large role in many commercial property installments. Make sure to take any zoning restrictions into effect.

  • Make sure to get any and all inspections done before completing a home purchase. There could be many things that go wrong if you wait, so it’s best to stay on top of everything.

  • Every state is different, but typically, a closing date within four to 10 weeks is usually the case. Obviously, if there are problems at inspection, this could delay the process months if not handled properly.

If you’re not sure when to consult a real estate law firm and you’re in the middle of buying or selling a house, it’s probably best to consult with them right away. It’s better to go in well-prepared as opposed to not prepared at all. These firms will help you with things that you aren’t exactly comfortable with: eviction law, code violations, zoning restrictions, and general property law. They are there to help you and make your home buying or selling process as easy as possible.

Foreclosure 101: What You Need To Know

Foreclosure

foreclosure processIt is a lot easier to get a mortgage than it is to maintain one. In fact, one in every 96 homes reported at least one foreclosures filing in 2013, and in general, one out of every 200 homes will be foreclosed upon. It may take around 40 days to close on a house, but it only takes a couple of missed payments to end in foreclosure.

Before you get swept away by the overwhelming and confusing foreclosure process, make sure you know all the facts and all your options.

What is it?

Foreclosure is basically the process by which a homeowner’s property is seized because of failure to pay the mortgage. Typically, if the homeowner cannot pay the balance of the mortgage, the house goes up on auction, or becomes the property of the institution that lent the mortgage in the first place.

How does it work?

There is ample warning before a foreclosing. Notification of missed payments is followed by a public notice, or Notice of Default. After this notice is received, the homeowner has a grace period called pre-foreclosure, in which they have time to try to make other arrangements, bargain with the lending company, or come up with money to complete payments.

Finally, if all else fails, the house goes up for auction, where the highest bidder wins the rights to the house. In many states, the owner still retains the “rights of redemption,” meaning they can stop the foreclosure by coming up with the outstanding cash.

How can I avoid this process?

The number one way to avoid foreclosure is to pay your mortgage payments on time and in full. And of course, this further means that it is important to not assume a mortgage that you are 100% positive you can maintain payments on.

If its too late for that, it is in your best interest to enlist in the help of a real estate lawyer. They are experienced in the nuances of the foreclosure process and real estate contracts and may be able to see an new angle of the issue. Sometimes, loan renegotiation or different repayment plans are possible solutions that can be worked out directly with the lender.

Most of all, don’t panic. Investigating refinancing options, or even selling your house before foreclosure can be effective in getting you out ahead.

The Basics of Property Dispute Mediation

Mediation, Real Estate Laws

property dispute mediationIf you find yourself in the middle of a real estate or boundary dispute, you need to learn about your state’s (or your home’s state) real estate laws and regulations. These real estate laws can be difficult to navigate and shouldn’t be attempted without the consultation of a professional.

When seeking to resolve a property dispute, invested parties have three general options:

  1. Negotiation
  2. Arbitration
  3. Mediation

A settlement reached by both parties without the help of a neutral third-party is considered a negotiation. Many real estate agents and brokers negotiate to solve issues that arise during the home buying and selling process. For instance, the National Association of Realtors recommends doing a walk-through and inspection of a home before completing the purchase. If a homeowner accidentally puts a hole in the wall while moving out and the buyer sees it during the final walk-through, the real estate agent may offer to pay for the repairs to keep the buyer from pursuing further action.

Arbitration is considered the most common avenue chosen for settling real estate disputes. This requires a third party to come and make a final settlement decision that both parties must adhere to. Each state has strict regulations regarding proper foreclosure as well as opportunities to pay before the property is sold. If a homeowner feels that they haven’t received proper opportunities to pay the bank, they can pursue arbitration.

Mediation is an ideal way to resolve a dispute that can’t be settled between two parties who refuse to pursue arbitration. Property dispute mediation entails a neutral third party stepping in to help those involved come to a mutual agreement. A mediator doesn’t make an ultimate decision for the settlement, but instead helps guide the feuding parties to a compromise that satisfies both. This method can be pursued as a last-ditch effort before seeking arbitration.

Mediation is the perfect way to solve breaches of contract. A real estate purchase contract outlines the timeline of the home buying and selling process, including a closing date. If either parties fall outside of that timeline and a dispute arises, property dispute mediation can remedy the situation.

Property dispute mediation is an avenue that many homeowners and real estate agents choose when an issue arises. While the causes of disputes vary from breech of contract to eviction, mediation allows both sides to be heard, making it a popular choice for those hoping to find a solution without getting a real estate lawyer involved.

Quick Look: How to Settle a Real Estate Dispute

Real Estate Laws

real estate disputeWhile there are many factors that contribute to a successful settlement of a real estate dispute, educating yourself on the fundamentals of settling such a dispute can help prepare you. When it comes to real estate law, there are common causes of dispute, such as:

  • Foreclosure: Out of every 200 homes, one will be foreclosed upon. Foreclosure is strictly regulated by each state, requiring proper notices and opportunities to pay before the property is sold in a foreclosure sale. It is recommended that you seek the assistance of a real estate lawyer as soon as you are threatened with foreclosure.

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  • Breach of contract: When you’ve become a party included in a purchase contract, the length of time the process takes will be outlined in your real estate contract. A closing date should be specified. For most cases, this can be between four and 10 weeks, though it varies from state to state. If a party has breached such a contract, this may be enough cause for a dispute.

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  • Eviction: After being evicted or threatened with eviction, some tenants may feel that they’ve been wronged by the landlord or vice versa. If the dispute escalates to a court setting, the case will be heard within 20 days (on average) after a request for a trial is filed.

After recognizing the real estate dispute, involved parties have options for settling the issues at hand. The method of resolution chosen will be based on the circumstances and it should be based on the individual case. The different types of resolution include:
 

  • Negotiation is the direct bargaining between two involved parties. This is used as an attempt to resolve a dispute without involving any third parties. An example of this would be if a buyer found damage to the property that was incurred by the owner after moving out. A real estate broker or agent may offer to fix the damage out of their own pocket to avoid getting the seller involved.

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  • Mediation requires a neutral third-party to help both parties come to a mutual agreement. A mediator does not make a final decision, but instead helps others make a decision together.

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  • Arbitration comes in handy when neither party can come to an agreement. This means a third-party will come in to hear both sides of the case and then make a decision on their own. In a binding arbitration agreement, the final decision must be followed and enforced.

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    While educating yourself on the basics of real estate disputes and settlements is a great first step in solving an issue, seeking the consultation of a real estate lawyer is the best way to make an informed decision about an avenue of resolution to pursue.

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