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bestlawfirminanekeny-blog · 5 years ago

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Real Estate Attorneys

Have you decided to take the big step of buying a home or selling your valued property? No matter if your recent purchase is bigger or small, buying or selling real estate isn’t a simple process. There are many laws that dictate the specifics that most of you aren't acquainted with.

In such a case, a real estate attorney comes handy. You should consider hiring an experienced real estate agent to guide you through the legal process in the real estate industry. For any real estate expertise in Iowa, you should consider hiring Mark Gray – the best law firm in Ankeny.

Who are Real Estate Attorneys?

Real estate attorneys or real estate lawyers are legal professionals who specialize in the legal aspects of buying and selling real estate properties. A real estate lawyer may assist in many transactions associated with the transfer of property.

Many states in the US require the presence of a real estate during the transaction of real estate property namely

· Alabama

· Connecticut

· Delaware

· D.C

· Florida

· Georgia

· Kansas

· Kentucky

· Maine

· Maryland

· Massachusetts

· Mississippi

· New Hampshire

· New Jersey

· New York

· North Dakota

· Pennsylvania

· Rhode Island

· South Carolina

· Vermont

· Virginia

· West Virginia

Although your state may not require a real estate attorney to be present during the time of the transaction you will still be required to hire one to assist you with legal formalities and processes. Consider the best law firm in Ankeny for real estate expertise in Iowa. Keep in mind that having someone who is experienced with the law on your side may help you avoid any legal problems that can cause delays to your closing, and save you money in the long run.

Why do you need a Real Estate Attorney?

According to Iowa State Law, you can purchase and/or sell a residence by using a real estate licensee. Licensee is basically a salesperson or broker. However, a licensee can only help you during the transaction.

There are real estate documents that cannot be prepared by real estate licensees. Essential documents such as deeds, installment contracts, etc. are to be prepared by a real estate attorney. Realtor, Real estate licensee, agent, and attorney play different roles to assist you in the purchase or sale of your property.

·They document and review real estate transactions, including purchases, leases, inspections, and appraisals.

·They help to resolve title insurance and environmental issues related to real estate law.

·When things take a wrong turn in transactions, real estate lawyers step in to file and defend lawsuits in court. They also assist in dealing with the legal aspect of rental property and defend the rights of owners, landlords, renters, and tenant.

·They also specialize in land use, zoning, property development, property taxes, deeds, titles, and foreclosure.

Why would you need a Real Estate Attorney?

Although they specialize in and apply their legal skills to matters related to real property, there are some essential things they broadly cover.

a. Buying

Buying a new home or a property can be a serious task that requires an acute sense of expertise, especially for first-time buyers. After you’re done meeting realtors or agents and decide to buy a new property, you should consult with the real estate attorney to expedite the buying process. A real estate lawyer can help you understand the purchase agreement, prepare and process all legal documents, review closing documents prior to signature, and ensure that you receive the valid registered ownership of the new home.

According to IowaRealtors.com, Home sales grew by 3.2% in 2017 with 44,023 homes sold compared to 42,671 in 2016.

b. Selling

Like buying, selling can be a daunting task that requires a sound knowledge of the market, taxes levied on selling properties, agreements and other legal documents. Although it isn’t necessary to place a real estate agent during the transaction in Iowa, you would still require their expertise to ease the process.

A Real estate attorney can help you draw up legal documents, review any essential document that requires a signature, arrange for the transfer of deposits/security, and make arrangements for insurance verification. Although a lawyer performs fewer duties in the selling of a property than in the buying process, you would still require their expertise.

May 2019 Property Market Indicators for the State of Iowa

New Listings increased 5.4 percent for Single-Family Detached homes but decreased 2.8 percent for Townhouse-Condo homes. Pending Sales increased 1.1 percent for Single-Family Detached homes but decreased 10.1 percent for Townhouse-Condo homes. Inventory increased 4.5 percent for Single-Family Detached homes and 1.7 percent for Townhouse-Condo homes. (iowarealtors.com)

c. Benefits

Other than just buying and selling homes, real estate attorneys are beneficial for many reasons. They can be your front guy during any transaction. Their legal expertise and authority can help ease lots of processes.

They can also help simplify the legal jargons involved with real estate, tax, and state laws to make the process much less stressful.

Real estate lawyers may also help ensure that the client is legally covered (financially secured) during the entire deal.

According to the new state law authorized in 2018, Iowa will offer a 10-Year Tax-deductible saving account to go towards the purchase of the first home in Iowa.

d. Expense

Real estate attorneys do not come cheap. The clean and easy finish of work requires great expertise and effort that comes for a price. Attorneys can differ in their pricing strategy that is determined by the kind of deals they’re involved in. Some may charge flat fees while others may charge by the hour.

Be prepared to pay them a fee nonetheless. Most attorneys require payment regardless of whether the deal closes or not. Although retaining an attorney for real estate deals can be an added cost, the benefits far outweigh the costs and could save money in the future.

Most attorneys charge on an hourly basis, while others may charge for the whole process. The fringe charges may range from $150-$300.

Be prepared to pay anything from the US $500 - $1500 for a wholesome attorney job.

Real Estate Issues while Buying a Home

There are many issues that you must consider when purchasing a residence. These can apply when you purchase a property without the assistance of a realtor as well as FSBO 'For Sale by owner.'

The cost of living in Iowa is 89.5, i.e. Iowa is cheaper than most other states in the U.S. The median home price in Iowa is $141,000.

i.Offer and acceptance or real estate sales contract

Under the real estate law of Iowa, a contract for the sale of the home is only binding if it is in writing signed by the parties. Since the sale often involves a huge sum of money and the legal issues can be complex, hiring an attorney to review the sales contract becomes essential.

ii.Disclosure Requirements

A seller is required to submit the ‘Residential Property Seller Disclosure Statement form’ in accordance with the law of Iowa to the buyer once the buyer tenders an offer to purchase a house. It should be completed by the seller to the best of their knowledge. Both buyer and seller during the time of the transaction or before should sign two copies of the form and each should retain a signed copy for any future legal complications.

iii.Closing Process

Once an offer to purchase is accepted, the seller will need to locate the abstract of title for the real estate and get it updated and extended by an abstract company. The abstract lists all of the documents (e.g., deeds, mortgages, etc.) that are part of the public record at the county recorder’s office, the courts, and other government offices that affect title to the property.

iv.Closing Statement

If you’re a Buyer, and you have a lender who is providing financing then normally the lender will prepare a closing statement that reflects the purchase price, applicable credits (like accrued taxes, transfer taxes, earnest money, etc.), and the amounts due to seller at closing.

For Tax Purpose

The property taxes paid in September and March each year are actually for the prior fiscal year ending June 30 hence property taxes are always one year behind. Accrued and prorated property taxes are normally taken as a credit by the buyer against the purchase price.

v. Pre-closing

The condition of the title (as shown in the abstract) can change between the date and time of the last extension of the abstract, which is usually recited in the title opinion, and the date of closing. As part of the closing, buyers should obtain from the abstract company an oral update summarizing whether there have been any changes to the condition of title.

vi.Post-closing

After closing, the buyer or the buyer’s lender will want to record the deed, DOV, and GWHS. The abstract should be kept by the buyer or their lender.

The above details are furbished from the source IowaBar.org

Did You Know about Iowa Homestead Law?

Buying a new home also comes with the possibility of losing it. Especially when you don’t have money and creditors come calling. The primary concern should be saving your home. The Hawkeye state homestead protection laws of Iowa is designed to protect citizens from losing their homes in the event of a bankruptcy. These statutes allow a person in debt to set aside a specific amount of real property, referred to as a "homestead," that would be off-limits to certain types of creditors. The Hawkeye State allows citizens to set aside 40 acres of rural property or a half-acre of urban property under its homestead protections and caps the value of the protected personal property at $500.

Mark Gray Law Firm

Mark Gray Law Firm is a law entity practicing in the state of Iowa and is regarded as the best law firm in Ankeny. Located uptown, the lawyers with Mark Gray firm solely work with clients to buy, sell and develop both residential and commercial real estate.

We provide a wide range of legal and consulting services including, but not limited to, review and preparation of agreements, negotiations, and closings. We provide advice on the ownership of farm real estate and other commercial real estates.

Highlighted Services

· Title Opinions

· Review and preparation of purchase agreements

· Review and preparation of leases and other documents

· Closing services

· Advice and coordination with respect to 1031 transactions

· Formation of business entities for real estate holdings

· Advice and assistance with respect to real estate ownership

· Real Estate planning

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cathrynstreich · 4 years ago

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The Importance of a Strong Online Presence

Richard Rawdin Licensed Real Estate Salesperson Coldwell Banker Beau Hulse Realty Group

As a highly respected and seasoned real estate professional, Richard Rawdin understands the significance of a strong online presence. With over 30,000 connections and more than 13,000 endorsements on LinkedIn, Rawdin has built a spotless reputation on and off the internet. Fifteen years into this industry, it seems there is no stopping him on his journey to helping buyers and sellers achieve their real estate goals.

Rawdin currently works for Coldwell Banker Beau Hulse Realty Group, a market leader in the Hamptons, N.Y., with offices in Westhampton, Southampton and Bridgehampton. Before his return to Coldwell Banker in 2019, Rawdin worked for Saunders & Associates for eight years.

“The reason I went back to Coldwell Banker is because they are one of the largest real estate companies in the world, they have an international presence and they have over 100,000 agents and brokers that I can network with,” he says.

In the midst of the COVID-19 pandemic, Rawdin has seen a spike in rental properties in the Hamptons as people leave New York City.

“The rental market went extremely crazy back in March. You can’t even find a rental property today,” he says, adding that he hasn’t seen such a strong rental market in the 15 years he’s been licensed. He also explains that more people moved out of the city and into their summer homes as the number of COVID-19 cases rose in the spring. “We had the level of occupancy in the Hamptons swell in March, when normally it doesn’t swell until after Memorial Day. We’ve been very busy.”

Being an agent in an area of the country that caters to some of the most elite clientele, it comes as no surprise that Rawdin would have some incredible stories. ”

I had the exclusive on a 4,000-sq. ft. oceanfront property. I sold the house and had my own buyer, so I got the listing side and I got the selling side on a $3.3 million house,” he explains. “Eleven months later, the person who bought it asked me to sell it without listing it, without advertising it—and I got it in contract in four days.”

Rawdin credits most of his success to his incredible presence online. “Social media has been very good to me,” he says. “I bought the domain hamptonshomes4sale.com 15 years ago and I’ve been using it successfully ever since. That’s part of my social media strategy, but I’m very active.” He believes that LinkedIn and Facebook are his two most influential social media platforms.

Since becoming an ACESocial member in March 2017, Rawdin has been able to spend more time connecting with his social network by sharing relevant and timely content without taking time out of his daily routine.

“The autoposting is a big advantage because it’s something that I don’t have to do every day and it’s done automatically, which takes something off my plate and it makes it easier to utilize.”

With such a prominent online presence and a large network of consumers and real estate professionals, Rawdin believes he will continue utilizing ACESocial for its convenience, affordability and relevant content. ”

I’m able to share this content with over 34,000 people, automatically, every day,” he says. “ACESocial gets in front of more than a couple million people every time something is posted on my LinkedIn. For what I’m paying, it’s the best bang for the buck I have on my internet spending.”

“The content is very up-to-date, pertinent information that’s good for real estate people, mortgage people, homebuyers and home sellers. I think it covers my real estate clientele and people who work in the industry well, so it appeals to a wide segment. Throw in the customer service aspect that everyone else is lacking—it just makes ACE a very good product.”

For more information, please visit coldwellbanker.com and rismedia.com/acesocial

Paige Brown is RISMedia’s content editor. Email her your real estate news to [email protected].

The post The Importance of a Strong Online Presence appeared first on RISMedia.

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halsteadproperty · 6 years ago

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REBNY Honors residential leaders and dealmakers at awards gala

The Real Estate Board of New York (REBNY) celebrated its 30th Anniversary Residential Brokerage Deal of the Year Charity & Awards Gala this Tuesday at The Plaza, where leading professionals in New York City residential home sales and rentals were with honored for their achievements, professionalism, and service to the real estate industry.

REBNY’s 30th on the 30th gala raised funds for REBNY’s “Member in Need Fund,” which provides grants to residential brokerage members who are experiencing a financial crisis or hardship.

“The Residential Deal of the Year Awards are presented to professionals of note who have excelled in and demonstrated their commitment to our industry through their accomplishments and dedicated service,” said John H. Banks, REBNY President. “We were honored to celebrate this year’s award recipients alongside hundreds of their peers at our 30th annual gala, and thank our sponsors and the Residential Deal of the Year Charity & Awards Gala Committee for helping us make this great evening possible.”

THE #RESDOY18 AWARD WINNERS

Steven O. Goldschmidt, Senior Vice President and Director of Sales for the Upper East Side at Warburg Realty, was honored with The Henry Forster Award for Lifetime Achievement. This award recognizes an individual who has a long-standing reputation for excellence in residential real estate, is a top-producing agent who displays outstanding ethical conduct in the profession, and contributes to cultural, charitable, and community organizations outside and within the industry.

Karen L. Duncan of Halstead Real Estate was presented with The Eileen Spinola Award for Distinguished Service. This award honors a REBNY broker or agent who has made significant contributions to the REBNY community by volunteering time, lending expertise and showing leadership in the areas of education, ethics, and professional services. The winner of this award personifies the best of brokers and agents who work tirelessly for the betterment of the residential real estate industry.

Ann Cutbill Lenane of Douglas Elliman took home The Residential Brokerage Agent of the Year Award which recognizes a member Sales Agent or Associate Broker who has demonstrated skilled achievement, superior leadership, high moral character, and professional behavior both in the real estate industry and the community-at-large. Nominations for this award are made by colleagues—salespersons and broker associates—from within the nominee’s firm or the industry-at-large.

Shan Chowdhury of Halstead Real Estate was named The Residential Brokerage Rookie of the Year for his standout accomplishments within his first years working in New York City’s residential real estate market.

Among The Residential Brokerage Division Deal of the Year Sales Awards:

– Sanjya Tidke of Halstead Real Estate and co-broker Mary Dunne of Warburg Realty won the First Prize Residential Sales Award.

– Tristan Harper of Douglas Elliman and co-broker Caroline Guthrie of Brown Harris Stevens took home the Second Prize Residential Sales Award.

– Naomi Davis and Monika Ingram of Brown Harris Stevens received the Third Prize Residential Sales Award.

The Residential Brokerage Division Deal of the Year Rental Award was presented to Derek M. Koch of Douglas Elliman and co-broker Corey Wecler of City Connections.

The winners of the Residential Brokerage Division Deal of the Year Sales and Rental Awards were chosen anonymously through a judging committee. Only members of firms who did not submit deal entries were allowed to judge.

The Member in Need Fund was created in 1994 by the Residential Brokerage Division Deal of the Year Charity and Awards Gala Committee and is supported through proceeds from the Annual Residential Deal of the Year Charity and Awards Gala. The Fund assists REBNY residential members who are experiencing severe financial hardship as a result of a personal or family illness or catastrophic event.

Corporate sponsors for #RESDOY18 were: Chase Bank, Wells Fargo, Popular Bank, Perchwell, Engel & Völkers NYC, World Wide Holdings, Brown Harris Stevens, Hudson Yards, Realtor.com, Romer Debbas, Abrams Garfinkel Margolis Bergson, LLP, Real Plus, Alp Signs, Terra Holdings, Miller Advertising, Apartments.com, Pro National Title, and Family First Funding LLC.

Raffle sponsors for #RESDOY18 were: XL Property Management, AVENUE, The Corcoran Group, New York Post, Patricia Fisher Design, Ace Hotel London, TAO Cares, Brook Furniture Rental, Roadway Moving, The Corcoran Group, Bradford Portraits, 53W53, Tom James of NYC, Katz and Matz, Blossom Restaurant, Loop Consulting Group, Gloria Restaurant, Halstead Real Estate, Brown Harris Stevens, Citizens Bank, Chase Bank, Churchill Living, Spire Realty, Quest Media, Rotisserie Georgette, Toloache NYC, Tre Otto, Buchbinder Warren, Compass, HottinDaro, LIC Pilates, Samuel Shriqui Salon, Soho Grand Hotel, Fox Residential Group, Loco Coco, Chaves, Perlowitz and Luftig Law Firm, Marjorie Hilton Interiors Inc., and Total Tennis.

Photo courtesy REBNY/Richard Lewin

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