In our experience, there are three issues that can have costly residual consequences that you as the residential buyer need to be aware of.
Title issues and title insurance are two items we continuously mention on our website. We are trying to get this message clear to the general public on how expensive a stained title can be to the homebuyer. A lien can appear on the title even after all of the routine checks are made. This is where your title insurance comes in. It is by far one of the most important protective measures you can take to avoid a huge bill years down the line.
The deposit amount is always a topic up for debate between the buyer and seller. The seller obviously wants a big deposit and the buyer wants the deposit to be as small as possible. When dealing with big purchases, the buyer wants less monies tied up in the escrow account so they can provide a larger down payment. The seller however wants to avoid a decreased deposited amount in order to protect themselves from the buyer reneging on the deal. The Rozhik Law Firm has no problem acting as an arbitrator in this situation to assist in both the buyer and seller coming to reasonable terms on what the deposit amount should be.
Repairs and damages are usually revealed by the home inspector. Our attorneys insist upon hiring a professional to ensure these damages are out in the open prior to finalizing the deal. One area of debate that often arises is when the buyer and seller disagree on who should pay for these damages. A method of reconciliation for addressing damages can be applied towards lowering the selling price or simply having the buyer pay for the damages.
When hiring Richard F. Rozhik and The Rozhik Law Firm, all of the issues as stated above are accounted for and calculated by a team of professionals and experts to ensure every âtâ is crossed and every âiâ is dotted. We examine each step of the real estate closing process to protect your investment. Our goal is to have you feeling secure every step of the way and living in your new home without worrying about dirty titles and unsubstantiated repairs.