Vintage Law

All about law minus its complexity.

Fri 13 January 2017

Real Estate Tips: Closing

Posted by Roosevelt Foxall in misc   

Cash at Close

Here is a good real estate closing tip: if you find a problem with your property, do not ask the seller to fix it, ask for cash at closing. You may think you want the seller to repair the roof, replace the boiler or the floors refinished, but in reality, it does not make much sense. Not only can it delay your end date, but your sellers want out of this home so how much effort will they do to get the best service and highest quality replacement?

If you have cold hard cash in hand from closing, you can ensure that you buy the unit and may wish to hire the contractor you trust, or you can be certain repairs that you made yourself. Not only will a negotiation like this mean a faster closing, but you will have the peace of mind that the problem does not come back to haunt you in the next six months or a year.

Real estate closing delays

Terminations may be delayed in any real estate market. When a closure is delayed, it usually has something to do with the buyer's mortgage. To ensure that this does not happen to you, be diligent about giving your lender with all the documentation needed to give you the final loan approval. A lender will not prepare loan documents for you to write until all the lender's conditions for approval are met.

Closure 

When the time of the closing comes, you will sign a lot of paperwork. This is nerve-wracking for many people as they sign the papers that are unfamiliar even if they are essential to protect everyone involved in the deal. Ask a closing agent to give you a copy of all the documents you need to check before your signing appointment. This may not be possible due to time constraints. But if you can view the documents in advance, signing can go smoother. You can opt for real estate closing solutions to have a smoother experience.

Be smart, do not spend

If you are under contract for your new home, be smart. Do not buy anything big on credit until you close. Think of it this way, when you got pre-approved for your mortgage, your income to debt ratio was examined thoroughly. If you change this ratio significantly, it could jeopardize the bank's ability to take out your loan.

It is much like baking a cake - you will not turn the oven up or down in the middle of baking, are you? So be sure to keep a financial status quo in your home purchase. You will sail through your closing and you can buy anything you want once the deed is safe in your name.

Tips For the Buyer

Buyer is responsible for what feels like a lot more than the seller in a real estate transaction. The burden of securing funding and orchestrating the paperwork for the purchase falls heavily on the buyer. In some states, title companies can conduct closings while others attorney must handle the transfer of property. At the closing table, the buyer must:

  • Take all funds paid. This means you have to bring your downpayment, less deposit, plus some additional closing costs.
  • Paperwork - buyer signs the lion's share of real estate closing paperwork including mortgage, the note and any information required by the bank. Review your spreadsheet showing all the fees you have to pay, to ensure that it is right. You do not want to pay for any junk fees that have been inserted at the last minute.
  • Homeowners Insurance - To close, you must prove that you have secured homeowner insurance. This is required by all mortgage lenders to protect their investments. In some cases, you must obtain flood insurance too.

 

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Sun 09 October 2016

Defamation Law: The Basics

Posted by Roosevelt Foxall in Simply Law   

Ever experienced someone published a wrong statement about you which hurt your credibility? You just might be a victim of defamation.  The defamatiion is a little tricky becuse it can somehow contradict with the idea of free speech. So, what should we know about defamation and how can we protect ourselves from malicious thoughHere are the basics of the defamation law:

 

Defamation is defined as any false statement that was intended, either spoken or written, that harms a person's or company's reputation. It can result in the decrease of respect which can be really damaging.

Elements of defamation:

  1. Defamatory language
  2. Of and concerning the plaintiff
  3. Publication to 3rd party
  4. Damage to plaintiff's rep
  5. Falsity (Public concern)
  6. Fault  (Public concern)

Defenses to defamation:

  1. Consent
  2. Truth
  3. Absolute Privelege
  4. Qualified Privelege

 

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Tue 20 September 2016

Intellectual Property Law 101

Posted by Roosevelt Foxall in Simply Law   

When you're creating something, you need to make sure that your idea is original for you might be imitating a trademarked object. This goes the same in creating logos for your business. If you are an inventor, you need to make sure you protect your original creation and prevent others from claiming it. This is when Intellec tual Property Law makes sense and gives creative people the right to protect their original idea that they worked hard for.

Let's try to dig deeper into this law and learn about the basics.

What is intellectual property law? 

Intellectul property law particularly deals with protection of the rights of creators of original works. This basically covers just about everything such as original novels, plays, invention and company brands. The purpose of this law is to encourage the cultivation of new innovations, inventions and artistic expressions while having a positive impact on the economy. By this law, indivduals are more likely to develop new things with the assurance of being protected as the creator.

 

Copyrights

Copyrights can give exclusive rights to reproduce their work which generally falls under expressive arts. This also can give the owners the right to obtain financial gain from their work and prohibiting others from doing so.

 

Patents

Patents specifically protect inventions from being produced, used or sold by others for a certain period. 

  • Design Patents - protect the unique appearance of the manufactured product
  • Utility Patents - protect the invention that has a particular purpose.
  • Plant Patents - protect plant varieties that are reproduced asexually.

Inventors need to apply for a patent by the US Patent and Trademark Office. This can be a time consuming and complicated process. 

Trademarks

Trademarks protect the names and marks of companies and products. This also makes it easier for consumers to determine different products from each other. It's also assumed after a company uses a certain mark or symbol to identify itself.

 

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Tue 15 November 2016

9 Things You Need To Know About a DUI Offense

Posted by Roosevelt Foxall in Simply Law   

Being charged with a DUI is quite a traumatic experience for most people. It's something that could damage your personal records and your life overall. Things may also get too confusing if you have no idea about what's going to happen to you. Here are the top things yu need to know about getting a DUI:

Never talk about your case with anyone who is not your attorney. 

This goes for anyone including police officers, jail staff and ourt officials. Anything you say can be used against you druing your trial so, it's better to confide with your attorney.

Laws vary from state to state.

Each state has their own laws about this legal matter. You could do some research about or cnsult with a local lawyer who specializes in this type of case.

First timers could get a misdeameanor criminal charge.

If no was hurt during your arrest, you would typically get a misdeamanor charge for your offense. However, if someone was injured or killed, you could be charged with a felony DUI which can have heavier consequences such as longer prison sentences.

Battling a DUI charge is expensive.

You may need to spend thousands of dollars on a private lawyer and pay costly fines. If you lose during the trial, expect to pay more heaps of money.

You may bargain and avoid trial.

A majority of DUI cases never make it on court because the defendant pleads guilty. The prosecutor may offer something good such as a light sentence if you plead guilty to your case.

Driving privileges can be revoked.

Even though it's your first conviction, you may be stripped of your driving privileges. This varies from state to state. Most state laws can suspend your driver's license for a certain period of time.

It's not sweeter the second time around.

If you had a DUI before, you may experience heavier fines, sentence and a longer suspension. It's definitely not something you'd like to repeat.

 

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