What to Do When Home Seller Does Not Move Out Because of Seller’s Remorse! One of the best ways to prevent a holdover occupation of a home by the seller is to have language in the purchase agreement or any addendum to it placing safeguards to prevent this problem as well as penalizing language in the sale agreements to the seller if there is unauthorized occupation of the sold property post close. → Read More
Responsible Party for Home Repairs Following a Home Purchase Whose responsibility is it to have the repairs done and paid for on unexpected problems with air conditioning, stove, roof, water heater, furnace, following a newly purchased home: the seller, the buyer, the home inspector/contractor who inspected the property before close of escrow or a combination? Transfer disclosure statement requirements, signed by the seller and given to the buyer, make sure that the seller discloses to the buyer all matters known by the seller about the property, about its conditions that would affect its desirability by a willing buyer, or the amount of money that a willing buyer would pay for the property. If the home was a newly constructed home, the developer will be responsible for the repairs at his or her own costs. If the buyer can prove that the seller knew of a known problem with the home that was sold and does not disclose this before close of escrow, the seller is responsible for all costs of the repair that failed after the home was purchased. → Read More
Refusal to Close on a Commercial Real Estate Contract If the real estate contract is silent as to what happens if the seller defaults, then in most states, the buyer can go to court and sue for specific performance. This type of lawsuit does not demand monetary damages – it demands performance on the contract. When the buyer is the one who refuses to close, the seller can try to sue for money damages. The problem here is that many buyers who back out often did not have a preapproval to start with; instead, they just had a prequalification. → Read More
Remedies When the Seller Refuses to Complete the Sale Under the Contract Assuming you have fulfilled all that was required of you under the contract for the building purchase, and assuming the contract meets all the requirements to be considered legally valid, you have two major options if the seller refuses to follow through before closing the building purchase: suing for specific performance, and suing for monetary damages. → Read More
Contingencies in Commercial Real Estate Contracts Real estate contracts almost always contain “contingencies,” i.e. – a condition or set of conditions on performance –written into the contract itself. They’re called contingencies because if they don’t occur, the entire contract can be legally thrown out without penalty. In this sense, contingencies are like escape hatches in real estate contracts. They are very common add-ons to contracts, and are often practically necessary. → Read More
Best Way to Hold Title to Your Commercial Property How should I take legal title to commercial property? → Read More
How My Property is Zoned With rare exception, property is governed by local zoning law that restricts its use. Although zoning law can differ across communities, the general purpose of zoning is to maintain neighborhood uniformity by grouping similar property uses together into zones. Because zoning controls what a property owner can and cannot do with their land, it is important to understand how your property is zoned, and what uses are permitted. → Read More
Obtaining a Variance on Property When unusual circumstances make it difficult for a property owner to comply with local zoning laws, cities and counties may grant what are known as variances to allow property owners to circumvent the traditional zoning laws in an area. A variance is a form of equitable relief that allows a property owner to bypass local zoning laws so they can use their land in the most efficient manner possible. → Read More
Adding a Buffer Zone to Your Property Mostly used by local governments and land developers, buffer zoning is a technique used to create some space (both literally and figuratively) between two different buildings or properties. Buffer zoning is commonly used when putting two specific buildings or types of buildings right next to each other would cause annoyance to the people living in the buildings. → Read More
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