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Category Archive - Real Estate

Is A Written Contract Important If I’m Buying Or Selling A House?

Absolutely. It’s critical. Because the contract is the heart of the transaction. It spells out what you’re buying, the price, terms, etc. Any issues relating to the transaction are spelled out in the contract. It’s vital. Also, after closing, if you get audited or even just doing your regular taxes, typically, your accountant needs the contract to identify what the terms of the transaction were.

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I Am Selling A House. Do I Need An Attorney?

I strongly recommend that you have an attorney to review any documents that you may be signing. If there’s not a real estate agent involved, then I strongly suggest that you have the paperwork reviewed by an attorney.

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What Is An Abstract?

An Abstract is a book that is a collection of documents that pertain to a specific piece of real estate. If you have an Abstract, all the documents that have ever been filed at the County Clerk’s office, that apply to that particular piece of property, are contained therein.

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Do I Need An Abstract?

In Oklahoma, if you’re buying or selling a piece of property, then you really do need an Abstract. Because the Abstract is what tells if the title is good, and if the person you’re buying the property from, actually owns it. An attorney’s review of the Abstract is a must! Title insurance is optional.

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Does A Survey Need To Be Done On The Property?

A survey is not required on every transaction or every sale of a piece of property. It’s advisable, so that you identify your property boundaries to you know whether there are encroachments. But it’s not absolutely required on every transaction.

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My House Is Being Foreclosed On. What Can We Do?

The first thing you should do is contact an attorney that’s experienced in real estate matters. The law now offers alot more protection to borrowers that are being foreclosed on, and there may be some things that attorney can do that may benefit you.

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Do I Need A Title Company To Handle The Closing?

Not every situation. Normally, a title company handles the closing. The “closing” is the process of wrapping up the transaction, collecting the documents, transferring the money and transferring the ownership of the property. Oftentimes, attorneys handle these matters. You need a title company or an attorney. I don’t suggest you try handling a transaction on your own.

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