7 Crucial Real Estate Contract Clauses

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by Attorney William Bronchick The following is a seven-point checklist for items that should look for when you are buying. Some of these clauses may be found in some form or another in the “standard” real estate contract which is used in your area. 1. “And/or assigns” or “and/or Nominees.” As the buyer, you want to have the right to assign ... Read More »

Correcting Common Title Problems

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By Attorney William Bronchick When searching title, many issues may arise, most of which are usually correctable. DEATH OF AN OWNER It is common to discover along the chain of title a gap due to the death of an owner. For example, suppose a deed was granted to Bob and Mary Smith, then the title went from Mary Smith only ... Read More »

Real Estate Contract Earnest Money

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by William Bronchick A buyer will usually put up earnest money to bind the contract and show that he is a serious buyer.  Most sellers ask for the earnest money deposit because they are afraid of tying up the property and rejecting other potential buyers. How Much is Necessary? No specific amount of earnest money is required.  I have used ... Read More »

FHA 203k Loan for Real Estate Investing

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As a beginning or even experienced real estate investor, you have probably heard about the FHA 203K Loan. It can be a great loan when utilized properly and if you are willing and able to do what it takes to qualify and jump through a few government hoops in the process. The HUD or FHA 203K Loan was developed in ... Read More »

Investing with Disqualified Parties in a Self Directed IRA

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by Attorney William Bronchick Your self-directed IRA is a huge tool for creating tax-free or tax-deferred wealth, but it is fraught with technical rules and potentially deadly pitfalls.  One of those pitfalls is doing transactions with parties that are “disqualified”, namely spouses and lineal ascendants and descendants (parents, kids, etc).   Thus, you can’t borrow from your mother’s IRA to ... Read More »