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Helping You Navigate Complex Legal Issues

Real Estate Transactions Archives

Gregory A. Lang

4 alternatives to foreclosure you may want to consider

If you're facing foreclosure, then you may find it refreshing to know that bankruptcy is not the only option to pursue to save your home. Instead, there are a variety of alternatives that may be available to you to help bring your mortgage payments current or stay in your home.

What is Minnesota's Three-Day Cooling-Off Law?

Not all contracts have a "cooling-off" period that allows consumers to cancel the contract within a few days after they sign it. However, Minnesota does have a Three-Day Cooling-Off Law (more formally known as the Home Solicitation Sales Act) for home solicitation sales.

What's a real estate easement?

A real estate easement is the right of another party to trespass on -- or even use -- a piece of land that someone else owns. Often, easements are owned by utility companies or municipalities so that they can build a road, lay pipe or bury electrical cables on a homeowner's property. It's important to be aware of any easements that apply to a given piece of land or property before purchasing it.

What are real estate covenants?

Real estate covenants do not apply to all property, but if one applies to your property, then you will be restricted regarding the way you alter or build your property. Two of the most important pieces of legal terminology in the realm of covenants are burdened land and benefited land.

10-point pre-purchase checklist for buying a home

The last thing you want to do as a homebuyer is purchase a residence that has a severe unidentified problem. Not recognizing a serious problem could cause you a lot of money and stress later on down the road. This article will describe a 10-point checklist that you can use to ensure that you've covered all your bases before investing hundreds of thousands of dollars into a new residence.

Consider your debt-to-income ratio when seeking a home loan

If you are starting to think about applying for a home loan, you will most likely go over your finances and try to determine how much money you will be able to reasonably and safely borrow. In addition to thinking about how much money you will have to put down - and therefore, how much you may have to seek via your loan -- there are other factors that will ultimately affect your ability to borrow money. Among the most important things your potential lender will consider is what is known as your debt-to-income ratio.

Useful strategies for selling and buying your home

Most people need to sell their current home before they buy their new one. However, if you sell your home before buying the next one, you'll be crunched for time, and you might not select the new home that's perfect for you. Conversely, if you wait and buy the new home before you sell, then you might need to pay two mortgages at the same time until the first home sells.

Don't ignore property issues when buying a short sale home

Purchasing a home on short sale happens when a buyer purchases a home for less than the amount the owner owes on the mortgage. These are usually homes that are facing, or about to face the threat of foreclosure proceedings. In these situations, the lending organization must first give permission for the short sale. The lender will also not receive all of its money back on the sale, but it could be more advantageous than the foreclosure process, which is why banks allow short sales to proceed.

4 properties formerly owned by Prince for sale in Minnesota

Four Minnesota real estate properties that Prince owned were put up for sale in mid-November, with two more expected to be put on the market soon. All four of the properties are situated in Chanhassen. One of them, where the deceased musician lived at one time, is a 5,654 square-foot property situated on a 1.5-acre plot of land.

Land contract attorneys in Minnesota

A land contract is often referred to as a contract for deed, an agreement for deed, an installment sale agreement or a land installment contract. This is a special contract entered into between the buyer and the seller of a piece of real estate. The contract involves the seller offering financing to the purchaser of the property. That financing is then generally paid off in installments.

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