The Role Of A Real Estate Attorney In Home Purchase

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The Buyer’s Agent fiduciary responsibility is to initiate the real estate sale.  The Listing Agent’s fiduciary responsibility is to facilitate the real estate purchase and the Real Estate Closing Attorney’s fiduciary responsibility is to legally close the real estate transaction, and the property is purchase with “good faith” between the Seller and the Buyer.

The Real Estate Closing Attorney plays an important and integral role in the transaction and transfer of the real estate property between the Buyer and Seller.  It is critically important that the Buyer’s Agent and Listing Agent agree to utilize a Real Estate Closing Attorney with high ethical standards to successfully complete the real estate transaction.

The primary role of the Real Estate Closing Attorney is to legally conduct a Title Examination to investigate and research the “Title” to ensure that there are no encumbrances, liens, or forthcoming lawsuits against the real estate property, and  to ensure that the Buyer has a purchase the real estate property with a “Clear Title.”  

After the Real Estate Closing Attorney conducts Title Examination on the real estate property, the perspective Buyer should become enlighten to the fact of whether there are certain restrictions of use, easements, encroachments, and the Title is marketable and clear for the Seller to legally transfer the real estate property to the Buyer.

Moreover, the Real Estate Closing Attorney will also conduct a thorough investigation about whether there are any existing mortgages against the real estate property under contract, and any delinquency of debt will need to be satisfied in order to transfer Clear Title.  All liens, judgments, and second mortgages must be financially liquidated in order for the Mortgage Lender to secure a 1st  Mortgage Lien position on the real estate property under contract.

The Buyer’s Agent and Mortgage Lender of the propose real estate property under contract should also advise and highly recommend that the Buyer purchase Title Insurance.  Title Insurance protects Buyer and Mortgage Lender from potential future problems, e.g. liens, judgements, or second mortgages, discovered on the Title.  Although Title Insurance is not a mandatory requirement to secure a real estate mortgage, it is an optional protection to ensure that the Buyer has “Clear Title.”

Finally, the Real Estate Closing Attorney will provide an update on the Title and record the Deed Of Trust.  The Real Estate Closing Attorney will also review the Buyer’s Settlement Statement prepared by the Mortgage Lender to successful close the real estate transaction and distribute monies to the Buyer, Seller, and Real Estate Brokers.

IF YOU KNOW ANYONE INTERESTED IN BUYING OR SELLING THEIR HOMES, PLEASE TELL THEM TO CALL: 

WILLIAM A. BYRD                                                                                                              ASSOCIATE BROKER                                                                                                                DRAKE REALTY                                                                                                                                    (404) 250-7445 (Direct)

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Facebook Will Face Charges Of Housing Discrimination

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Facebook has agreed to allocate approximately $5 million to settle several pending lawsuits that have alleged its legendary advertising platforms have condoned blatant discrimination in housing, employment, and credit advertisements.

Consequently, Housing And Urban Development (HUD) filed a formal discrimination complaint in August 2018 against the social media giant alleging that Facebook condoned and overlooked the practice of allowing landlords and owners selling homes to utilize the company’s advertising medium to blatantly “engage in apparent housing discriminations.”

“Facebook is discriminating against people based upon who they are and where they live.” Housing And Urban Development Secretary Ben Carson reportedly said. “Using a computer to limit a person’s housing choices can be just as discriminatory as slamming a door in someone’s face.”

Moreover, Facebook has violated the Fair Housing Act by “encouraging, enabling, and causing” housing discrimination via the company’s advertising platform. The HUD complaint stated advertisers can control what type of buyers or renters can see housing-related advertisements based upon race, religion, sex, disability and other discriminatory characteristics. This is outrageous!

Facebook was flabbergasted by the pending discrimination charges and HUD’s decision that the social media giants blatantly violated the Fair Housing Act. Historically, the media giant has faced mounting criticism about the company’s discriminatory advertising platform, and whether its advertising system condoned and permitted consumer discrimination.

In November 2017 ProPublica Report disclosed discriminatory advertisements was filtering through Facebook advertising medium. ProPublica further researched the controversial issue by purchasing dozens of home-rental advertisements that specifically excluded “African-Americans, mothers of high school children and disabled applicants expressing interest in wheelchair ramps, Jews, and expatriates from Argentina and Spanish speaking countries.”

“Last year we eliminated thousands of targeting options that could potentially be misused, and just last week we reached historic agreements with the National Fair Housing Alliance, ACLU, and others that changed the way housing, credit, and employment advertisements can be run on Facebook,” an undisclosed Facebook Spokesperson remorsefully expressed to CNN Business.
However, Facebook Senior Management has announced several corrective steps to resolve the issues of housing, employment, and credit discrimination that includes separate advertising portals for housing, employment and credit advertisements that significantly reduces less direct targeting options. Also, Facebook will create a new advertisement page format, whereby United States Facebook consumers can search for and view current housing-related advertisements, even if the advertisements didn’t appear on their News Feeds.

Facebook must “face the truth” and eliminate Facebook discriminatory charges from the company’s advertising platform.

IF YOU KNOW ANYONE WHO WANTS TO LIST AND SELL THEIR HOME, PLEASE TELL THEM TO CALL:
WILLIAM “SUPER” BYRD
ASSOCIATE BROKER
DRAKE REALTY
(404) 992-1513 (DIRECT)

 

How To Prevent Mold And Mildew Inside The Home

 

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Mold and Mildew are the kryptonite to homeowners, and this dangerous fungi that germinates from plants can lead to sickness, bad health, and possibly death.

The birthplace of fungus is comprised of small organism that can appear in the air and homes almost anywhere. Mold and Mildew can become visible in the form of organism with a color of black, white, orange, green, or purple.  

Mold and Mildew can manifest the fungi outdoor, and the incubation process emanates on moisture and reproduce tiny, lightweight spores that transmit through the air. Unbeknownst to most homeowners, people are exposed to Mold and Mildew everyday.

Mold and Mildew is a clear and present danger to the health of the homeowners. Mold and Mildew can irritate your eyes, skin, nose, throat, lungs, and cause lead sickness and hospitalization, especially if the homeowner has allergies and asthma.  

Mold and Mildew can irritate your eyes, skin, nose, throat, and lungs that creates health concerns. If homeowners become sensitive to Mold and Mildew and inhale enormous amounts of spores, this potential fatal fungi can become a threat to your health and wellness.

Although Mold and Mildew is omnipresent inside the respective homes, this dangerous fungi can be found in the air, mildew requires moisture and warm temperature that becomes conducive to germinate and grow. Oftentimes, mold begins to grow in the intense heat of the summer under the right temperatures and conditions. Mold and Mildew can especially grow and expand in attacks, crawl spaces, and basements.

The antidote to prevent the growth of Mold and Mildew is to regularly clean up the house, especially closets, dresser drawers, and basements that gives life to this fungi. Homeowners must play defense to prevent the growth of Mold and Mildew, and preclude any nutrients that would invariably ignite mildew-causing molds.

Homeowners must not become paranoid about the potential growth of mold and mildew inside their respective homes. Mold and Mildew, like spiders, have an omnipresence inside every home. Homeowners must constantly disinfect their homes, and not leave wet towels, wet dish rags, and wet dirty clothes in the closets or basements.   The key prevention strategy to eliminate Mold and Mildew is to daily the clean home utilizing household products such as Bleach, Comet, and Lysol spray.

IF YOU KNOW ANYONE WHO IS INTERESTED IN BUYING OR SELLING THEIR HOMES, PLEASE TELL THEM TO CALL:

WILLIAM “SUPER” BYRD                                                                                                           ASSOCIATE BROKER                                                                                                                       DRAKE REALTY                                                                                                                            (404) 250-7445

Bug Proof Your Home With Annual Termite Treatments

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After the homebuyers become “First-Time Homebuyers,” homeowners must not “Bug Out” over the price of getting a certified Termite Treatment,

Termite Inspection Letters usually costs between $45.00 and $55.00 dollars, and Termite Treatment cost approximately $250 and $350 dollars. Termite Treatments are a small price to pay to extinguish potentially damaging termites from the home. The Queen Termite and her Termite Soldiers could slowly eat away the woods and foundation of your homes, if these termites are left untreated and neglected.

Termites are pesky insects that have developed an appetite and hunger to munch away on woods for over 250 million years. The cause and effect of termite insects are to skillfully recycle wood products into the soil by eating and feeding cellulose. Cellulose are the main ingredients of cells walls in plants. There are approximately 2,200 termite species that have taken a habitat in the tropics.

However, most termite home damages are caused by Subterranean (Undergrown) Termites, which are members of the inspect family known as Rhinotermitidae. These subterranean termites are also called ground-dwelling termites, and Subterranean Termites build and construct and build the underground nests in eastern and western subterranean geographic areas. Subterranean Termites begin to eat at the home framing at the bottom of your home, and have an affinity for softwoods.

Termites are predatory inspects that will eat away the wood foundation of respective homes, and these insects are “clear and present” enemies to homowners. Protect the longevity of homes with a cost effective Termite Treatment. Homeownership is the biggest financial investments that homeowners will ever make, and always protect your investment with annual Termite Treatments.

It is imperative that homeowners assume the responsibility, and prevent the destruction of their homes by Termites. The State Of Georgia has one of the highest insect infestation in the United States. Insects are necessary for the functioning of the American ecosystem.

However, homeowners must always play defense to prevent Termites from potentially destroying their homes. Termites have a hungry desire to eat away the financial profits of homeownership. The Queen Termite and her faithful Termite Soldiers will ruthless destroy your home.

If you know anyone interested in buying or selling their homes, please tell them to call: 

William “Super” Byrd                                                                                                            Associate Broker                                                                                                                              (404) 250-7445 Office                                                                     http://www.williambyrd.georgiamls.com

 

NeighborhoodLift Will Uplift Buyers Toward Homeownership

NeighborhoodLift is a downpayment assistance program (DPA) with the mortgage goal of uplifting potential homebuyers into real estate paradise with the purchase of homes.

Since 2012, NeighborWorks America has collaborated with Wells Fargo Foundation.  Wells Fargo Bank has begun a mortgage partnership with NeighborhoodLift, which is a non-profit organization, committed towards providing $1,500 downpayment assistance grant to approximately 300 homebuyers in the form of a  0% interest rate soft second mortgages.  

“This is a tremendous commitment by Wells Faro to support homeowners and communities, Jeff Bryson President And CEO NeighborWorks America reportedly said.  “This is the kind of public-private collaboration that can help communities tackle difficult challenges and enable families to realize their goal of sustainable homeownership.”

There are no maximum purchase price, but the property must be owner-occupied. The NeighborhoodLift has family income limits that are listed below:

NEIGHBORHOOD INCOME LIMITS
ONE HOUSEHOLD               = $55,750
TWO HOUSEHOLD              = $63,750
THREE HOUSEHOLD          = $71,750
FOUR HOUSEHOLD            = $83,150
FIVE HOUSEHOLD              = $86,000

The potential homebuyers who receives a $1,500 downpayment assistance grant must attend a homebuyers education program.  The homebuyers education seminar will prepare perspective homeowners with the knowledge about mortgage financing, and the fiduciary responsibility of homeownership.

After attending a Wells Fargo homeownership education program, eligible homebuyers have 60 days to purchase homes in Fulton, DeKalb, Cobb, Gwinnett, and Clayton Counties.  

“This investment from Wells Fargo will help provide well-deserved stability, and economic security for hardworking families and individuals who dream of homeownership,” Atlanta Mayor Keisha Lance Bottoms reportedly said. “There is a critical need in our community to create equitable opportunities for everyone who desires to live in (metro) Atlanta.”

NeighborhoodLift program will uplift long term apartment renters toward becoming lifetime homeowners.

IF YOU KNOW ANYONE WHO IS INTERESTED IN LISTING AND SELLING THEIR HOMES, PLEASE TELL THEM TO CALL:

WILLIAM “SUPER” BYRD                                                                                                       DRAKE REALTY                                                                                                                                  ASSOCIATE BROKER                                                                                                                    (404) 992-1513

 

 

Time Shares Are Not Worth Buyers Shared Time

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Many enthusiastic vacationers naively purchase TimeShares that become a waste of their money for negotiated SharedTime.

TimeShares are the biggest con game within the real estate industry.

TimeShares are glorified rental properties reserved during a specified timeframe with other tenants dwelling on the same rental properties, but many TimeShares have conflicting scheduled booking times.

Many intelligent vacation consumers can rent the exact same vacation resort on popular travel websites at substantially less costs.

Some savvy investors of TimeShares foolishly believe that they could sublease their rental vacation properties to other vacationers for their designated timeframes. But the sublease vacationers must pay extra maintenance fees, special assessments, and monthly mortgage payments to enable TimeShares owners to make substantial profits.

However, TimeShares owners are financially subjected to rising maintenance fees, taxes, and monthly mortgage payments, whether or not the Time Shares owners utilize their allotted vacation time at their glorified rental properties.

Oftentimes, the average maintenance fees increases 12% annually, which is substantially more than the current economic inflation rate. TimeShares owners must also be aware of increasing special assessment fees. These increasing maintenance and special assessment fees are buried deep within the body of the Timeshares Contracts.

Furthermore, TimeShares owners must sign a lifetime contract that has a perpetuity clause, which allows TimeShares owners to pass the rental vacation property to future inherent generations. This is known in the real estate industry as the Mafia Contract.

TimeShares decrease in property values, once the TimeShares are purchased. Real estate property will increase in value, unless the real estate property is purchased in distressed neighborhoods experiencing shortsales or foreclosures.

TimeShares owners will become enraged, once they have finally discovered that they have been bamboozled by unscrupulous and dishonest TimeShares sales representatives, who earn nearly 40% sales commissions.

TimeShares sales people are tantamount to fast talking used car sales people. Don’t ever trust them…Buyer Beware! TimeShares are not worth the Buyer’s Shared Time.

IF YOU KNOW ANYONE WHO IS INTERESTED IN SELLING THEIR HOMES, PLEASE TELL THEM TO CALL:

WILLIAM “SUPER” BYRD                                                                                                                ASSOCIATE BROKER                                                                                                                          DRAKE REALTY                                                                                                                                       (404) 992-1513

 

Home Depot Exposes Homeowners To Lead Poisoning

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Home Depot has exposed approximately 25,000 to 400,000 unsuspecting homeowners in three states to dangerously levels of lead poisoning by the company’s incompetent home installation contractors, especially when these contrators have carelessly installed windows.

Home Depot contractors have mishandled lead-based paint removal in at least three separate states: Connecticut, Maine, and Colorado. In fact, a Connecticut homeowner reportedly stated that they paid Home Depot $24,000 for lead-base paint removal, but the homeowners has reported that nearly two years later the house still contains chips of toxic paint.

Hence, the federal government has levied a $37,000 fine against Home Depot in Colorado for not following federal safety guidelines for lead-base paint removal, whereby seven children were potential exposed to lead-based poisoning.

Home Depot Atlanta-based Headquarters has vehemently denied these lead-based poisoning allegations that reportedly came to the attention of WBS-TV in Atlanta, Georgia by an anonymous company whistleblower.

Home Depot has reportedly issued a statement that reads, “We’re fully committed to following Lead Work Safety Practices, and all regulations, regardless of their impact on sales.  If anyone believes otherwise, there are multiple ways they can report their concerns anonymously, and we will address any problems that might exist.”

The Environmental Protection Agency (EPA) is simultaneously conducting a criminal and civil investigation into how Home Depot contractors handles federal guidelines concerning lead-based safety practices.

Moreover, the U.S. Department Of Justice and Occupational, Safety, And Health Administration (OSHA) is conducting a separate investigation.

The federal regulations that applies to all home constructions after 1978 was to avoid lead-based paint. The federal standards and procedures that was implemented for handling and removing lead-base paint has been in place since 2010.  The purpose for these federal safety guideless concerning lead-based paint removal are required to minimize and contain dust or paint chips.

“We are going to take care of our customers,” Home Depot spokesman Stephen Holmes reportedly said.  “We  will be proactively contacting customers whose jobs will require a follow-up.” 

Home Depot accounts for approximately 4% of the $90 billion dollar home installation industry,  but the company must now work hard not to put profits over homeowners’ safety.

IF YOU KNOW ANYONE WHO IS INTERESTED IN BUYING OR SELLING THEIR HOME, PLEASE TELL THEM TO CALL:

WILLIAM “SUPER” BYRD                                                                                                        ASSOCIATE BROKER                                                                                                                          DRAKE REALTY                                                                                                                              404-992-1513 (DIRECT)