The Questions You Need to Ask Your Real Estate Attorney

by Isaac Benmergui, Esq on March 27, 2015

 The Questions You Need to Ask Your Real Estate AttorneyYour real estate agent is available to answer most questions that arise during a real estate transaction. However, when you are making a decision on an investment, a short sale or you’re facing foreclosure, you need to obtain the advice of an attorney experienced in real estate law.

Ask friends and family members to get recommendations on attorneys. Once you have a few names, make an appointment for a consultation and ask each of them these questions to determine which attorney is best suited for your issue.

First, you’ll want to ask if they graduated from an accredited law school, how long they have been practicing in this area, and how long they have been practicing in your state.

Find out how many cases they have handled like yours in the past, whether it’s foreclosure, short sales, or real estate development. Just because they practice in the general field doesn’t mean they will automatically have experience with your particular problem. You may also want to know who else will be working on your case, and what their experience is. In many cases, a paralegal or junior attorney may be doing the initial work on your case.

Next, ask how they would handle your problem. A good attorney will be able to give you a general outline of the steps they would take and what would happen when. You’ll be able to get a general timeline as well. You may also find out what kind of documentation and paperwork you will need to gather before your next meeting.

Finally, don’t forget to ask about billing. You’ll want to know the rate and fee schedule before you sign on with anyone.

Call Miami Real Estate Lawyer Isaac Benmergui at 305.397.8547 and set up a no charge, no obligation consultation to discuss your case. We have close to 10 years of experience handling Real Estate, Personal Injury, Immigration and Commercial Litigation cases throughout Miami and South Florida, and will use our expertise to help your case to the best of our abilities.

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How Long Does the Escrow Company Have to Return my Earnest Money?

by Isaac Benmergui, Esq on March 26, 2015

Earnest money is the deposit you put down on a home when you make an offer. It’s a kind of carrot to show the seller you are serious so that they will take the home off the market while you work out the deal. Earnest money is typically 1 to 2 percent of the total purchase price, and the money is rolled over into your down payment when the deal goes through. You may put down more if homes are moving off the market quickly.

The money doesn’t go straight to the seller. Generally, the title company or even the real estate broker will hold on to your earnest money until it goes to escrow. When the deal goes through, the earnest money is released from escrow and goes to the seller.

If the deal doesn’t go through, a cancellation fee will be taken out of your earnest money. The terms of the purchase agreement will determine if you get your deposit back. You should read the purchase agreement before you give anyone earnest money so that you are familiar with the situations in which your earnest money can be returned and when it will not.

If the contingencies of the contract are not met by either party, you will likely get your deposit back. Common terms and conditions include not being approved for financing, or finding problems with the property that you can’t come to agreement with the seller on how to handle.

Call Miami Real Estate Lawyer Isaac Benmergui at 305.397.8547 and set up a no charge, no obligation consultation to discuss your case. We have close to 10 years of experience handling Real Estate, Personal Injury, Immigration and Commercial Litigation cases throughout Miami and South Florida, and will use our expertise to help your case to the best of our abilities.

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How to Evaluate Investment Property

March 25, 2015

As the market saw in 2008, real estate can depreciate. You can’t count on the price of homes always going up. But with the right tools to calculate the value of investment, you can purchase like a pro.

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Who is Responsible for a Bee Swarm on my Property?

March 24, 2015

You may have seen a bee swarm before—usually it occurs in the spring or fall, and they generally swarm around trees or part of home. Bees swarm when the old hive gets too small and they need to find a new place to live. But what do you do if that place ends up being yours?

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Can I Back out of a Real Estate Contract Due to Divorce?

March 23, 2015

When you enter into a real estate contract, each contract has unique terms and conditions that must be met in order for the purchase to go through. If they aren’t, both parties agree to walk away from the purchase. Most of the time, these conditions include things like passing inspection, completing the sale of another property, financing approval, or making certain improvements or repairs on the property. But what happens when a catastrophic life event happens while you’re under contract?

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