• psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813

More Chinese Drywall issues in Wellington/ James City County

From an article by Leslie Wayne/ New York Times:

When Bill Morgan, a retired policeman, moved into his newly built dream home in Williamsburg, Va., three years ago, his hopes were quickly dashed.

Bill Morgan blames Chinese drywall for toxic fumes and corrosion in components of his home.

Bill Morgan had to abandon his newly built dream home in Williamsburg, Va., blaming drywall for corrosive fumes that attacked metal objects.

His wife and daughter suffered constant nosebleeds and headaches. A persistent foul odor filled the house. Every piece of metal indoors corroded or turned black.

In short order, Mr. Morgan moved out. The headaches and nosebleeds stopped, but the ensuing financial problems pushed him into personal bankruptcy.

Continue reading

DOD to help Hampton Roads Military Home Sellers

Hampton Roads VA has many military families who maybe in for some help in selling their home courtesy of Uncle Sam.

 The President signed the American Economic Recovery Act which included expansion of the HAP authority. HAP is a DOD program, and DOD will establish policy guidance on applicant processing and benefits. Until that time, potential applicants may submit applications to appropriate HAP districts; however, no action will be taken on the applications until any change to the HAP authority has been enacted and DOD guidance is received.

Their is a provision in Congress’ economic recovery package that may provide relief to Military Home Sellers who are trying to sell for less than they owe on their mortgages..

The stimulus package includes $555 million in aid to compensate military service members who are given orders and must sell their homes for less than market value. The Department of Defense would reimburse the individuals for up to 95 percent of the loss if the homes were purchased before July 1, 2006. The department could also elect to purchase the homes for up to 90 percent of the fair market value.

Many families are waiting for clarification on  whether the DOD will use the value of the home at the time of purchase or the value in today’s market.

The defense department is reviewing the program to determine the eligibility requirements but it has set no deadline for decisions.

The legislation , administered by the Army Corp of Engineers is an expansion of the Homeowners Assistance Program.

Originally created to help military personnel forced to sell their homes after a base closing it is being expanded to include those affected by the housing downturn would last until 2012. However, those who bought after the July 2006 deadline are not eligible.

You can find out more about the HAP Program here

WordPress Tags: Hampton roads real estate,Hampton,Roads,Military,Home,courtesy,Uncle,provision,recovery,relief,stimulus,orders,Department,Defense,individuals,Many,clarification,requirements,deadline,expansion,Homeowners,Assistance,Program,Army,Corps,Engineers,personnel,downturn,Sellers,members,decisions

Selling shares in property

 

 

 

Brian, three brothers inherited property and one brother wants to sell his share to one of his brothers; does the third brother have to give permission?

The short answer is no, no permission is necessary. This question illustrates a couple of different principles.

The first principle is the nature of property passing by way of will or intestacy (no will). Whether heirs take title via a will (if by will they are rightly called devisees) or by intestacy (rightly called heirs) they take and hold title as

tenants in common without right of survivorship

You can read the rest of the answer here in the Lytle Law weekly lytle-letter-11-24-08

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

Brian D. Lytle, Esq., Lytle Law, P.C. www.lytlelaw.com  Reprinted with permission of the author. 

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Foreclosure Rescue Scams

The economic climate has  given rise to a cottage industry known as “loan auditors” or “foreclosure rescue firms.” All essentially promise to stop a foreclosure. I want you to be aware of new Virginia law regulating these practices.

Typically, the foreclosure scammer will tell the homeowner that he can negotiate a deal with the lender to save the house, or evaluate the situation to look for loopholes, but the scam artist requires an upfront fee, and then often requires a more substantial fee when things “look promising.”

 You can read the rest of the article here lytle-letter-11-17-08

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

 

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

 

 Brian D. Lytle, Esq., Lytle Law, P.C. http://www.lytlelaw.com Reprinted with permission of the author. 

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

 

 

Williamsburg Va real estate search

 

Home Buyer Workshop in York County Va

York County’s Division of Housing and Neighborhood Revitalization is offering a Virginia Housing Development Authority home ownership education workshop on Saturday, Nov. 22 from 9 a.m. – 4 p.m. in the Community Services Conference Room located at 224 Ballard Street, Yorktown, Virginia, 23690.
The workshop will cover personal finances, credit reports and credit issues, the role of the lender, your relationship with a real estate agent, the Fair Housing Act of Virginia, home inspections, loan closing and home maintenance.

 


To register for this workshop, or for more information, call Tracy Pierce at 757-890-3885.

This update brought to you by Mr Williamsburg.com / Realtor/ John Womeldorf

A Realtor living / working in the Hampton Roads/ Tidewater area of Virginia.

You can reach me at 757 254 8136

Email John@MrWilliamsburg.com

 

 

FAQ Real Estate Legal Questions Hampton Roads Virginia

Brian, I’ve got a real estate transaction closing where we can’t get the home repairs done in time. What do I do?

Hmmm. I suppose it is too late to fuss about repair timing. Perhaps that wasn’t the agent’s fault anyway (didn’t ask).

The first thing you do not do, and I get asked this quite often, is blithely have the seller write a personal check to the buyer at closing for the cost of the repairs.

 

You can read the rest of the answer here : lytle-letter-11-10-08

 

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

Brian D. Lytle, Esq., Lytle Law, P.C. www.lytlelaw.com  Reprinted with permission of the author. 

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

 

Williamsburg Va real estate search

 Page copy protected against web site content infringement by Copyscape

   

 

 

 

FAQ Real Estate Law Contract Questions

THERE ONCE WAS AN AGENT NAMED NO‐BRAINER

WHO IN HASTE FAILED TO DELIVER THE DISCLAIMER

UNTIL AFTER IT WAS ACCEPTED

HAVING HER SELLER REJECTED

WITH NO CHOICE IN THE SUIT BUT TO NAME HER

Anon Tall Lawyer

Your man on the corner continues to hear grumbling about failure to get disclaimers and disclosures to buyers before contract acceptance.    

A. The owner of … shall deliver to the purchaser the written disclosures or disclaimer … prior to the acceptance of a real estate purchase contract. … The residential property disclaimer statement or residential property disclosure statement may be included in the real estate purchase contract, in an addendum thereto, or in a separate document.  Read the rest of the article here : disclaimers

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula they serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.  

Brian D. Lytle, Esq., Lytle Law, P.C. http://www.lytlelaw.com Reprinted with permission of the author. This article was originally published in the Realtor Update , a publication of the Virginia Peninsula Association of Realtors ®

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.

  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR Liz Moore & Associates

757 254 8136 John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website  

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas Williamsburg Real Estate Blog II Williamsburg Real Estate Blog Williamsburg Happenings/ Events Blog Williamsburg Va real estate search        

 

Va. Code § 55520 provides as follows:

Waiving rights when buying property Hampton Roads Real Estate FAQ

Brian, can a home buyer waive their rights under the

 

Virginia Property Owner’s Association Act?

In a word, no. Va. Code § 55-509.4, which sets forth the Act’s

contract disclosure requirements and rights of cancellation, says:

Read the rest of the answer here lytle law-letter-10-27-08

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

Brian D. Lytle, Esq., Lytle Law, P.C. www.lytlelaw.com  Reprinted with permission of the author. 

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

 

Williamsburg Va real estate search

 Page copy protected against web site content infringement by Copyscape

  

 

Contingency in Real Estate Contract FAQ Hampton Roads Real Estate

What is a contingency? Black’s Law Dictionary defines a contingency contract as “a contract, part of performance of which at least is dependent on the happening of a contingency.” It goes on to define the word contingency as “an event which may occur” and says that the term contingent, when applied to a legal right or interest, “implies that no present interest exits, and that whether such interest or right ever will exist depends upon a future uncertain event.”

So, in theory when one makes a contract or one’s performance under a contract contingent upon a stated event, then that event must occur else the duty ceases or never becomes operable.

Read the rest of the article here : lytle-law-article-reprint-contingencies

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia,  primarily serving the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

 

 Brian D. Lytle, Esq., Lytle Law, P.C. http://www.lytlelaw.com Reprinted with permission of the author. This article was originally published in the Realtor Update , a publication of the Virginia Peninsula Association of Realtors ®

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

Williamsburg Va real estate search

 

FAQ Warranty on new homes in Virginia

NEW CONSTRUCTION BUILDER WARRANTY PRIMER New home construction builder warranties arise either by implication under Virginia law or by an express provision in the contract between the builder and the buyer.   Va. Code § 55 ‐70.1 implies a warranty in most new home sales regardless whether the contract provides a warranty. Under this statute, a builder warrants for one year that its product is free of structural defects, is constructed in a workmanlike manner, and is fit for habitation. Foundations are warranted for five years.  Of course, the contract may state a better warranty. It also may waive the implied warranty if done in the manner prescribed by the statute. I would strongly caution an agent against being a party to a contract where a buyer waived all builder warranties. You can read the rest of the article here :  lytle-law-article-reprint-builder-warranty-primer

This update is courtesy of Lytle Law  a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia, we primarily serve the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

 

 Brian D. Lytle, Esq., Lytle Law, P.C. Reprinted with permission of the author. This article was originally published in the Realtor Update , a publication of the Virginia Peninsula Association of Realtors ®

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

Page copy protected against web site content infringement by Copyscape

Williamsburg Va real estate search

 

 

 

FAQ Real Estate Sale Subject to Lease Hampton Roads VA Real Estate

Whose House is it Anyway?

Sales are subject to existing leases. And in fact, sales can be subject to oral leases. That is why a seller signs an affidavit at settlement saying there are no such leases and that no one else is in possession of the property at closing.

It is also why the standard contract obligates the seller to deliver possession at closing. Note, however, that these provisions and documents only serve to give the buyer the right to sue the seller; they do not give the buyer the right to remove a tenant in possession of the property pursuant to a lawful lease.

So, if your listing-to-be has a tenant then you need to request copies of any written leases or a  summary of any oral lease. You should confirm those facts directly with the tenant.

Moreover, you should disclose the existence of tenants in the MLS and you might need to accept offers subject to the tenants terminating their lease and moving out on or before settlement.

Read the entire article here : l lawarticle-reprint-whose-house-is-it-anyway

 

 

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia, we primarily serve the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

 

 Brian D. Lytle, Esq., Lytle Law, P.C. http://www.lytlelaw.com Reprinted with permission of the author. This article was originally published in the Realtor Update , a publication of the Virginia Peninsula Association of Realtors ®

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

Page copy protected against web site content infringement by Copyscape

Williamsburg Va real estate search

 

Real Estate FAQ Hampton Roads, Virginia

Brian, what is the difference between special and general warranty, and should my buyers be worried?

A general warranty seller warrants (promises or guarantees) that he holds clear title to the property and has a right to sell it. This warranty covers (all) problems created back in the chain of title. A special warranty seller, however, basically only promises or guarantees that he has not created a title problem. Obviously then general warranty is better than special warranty.

Read the remainder of the answer here in the Lytle Law Weekly Letter 

 

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia, we primarily serve the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

 

 Brian D. Lytle, Esq., Lytle Law, P.C. http://www.lytlelaw.com Reprinted with permission of the author. This article was originally published in the Realtor Update , a publication of the Virginia Peninsula Association of Realtors ®

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

Page copy protected against web site content infringement by Copyscape

Williamsburg Va real estate search

Is it okay to strike the general warranty, state of title, and mechanic’s lien clauses from the contract?

FAQ : Brian, the seller wants to change or strike the general warranty, state of title, and/or mechanic’s lien clauses from the contract, is this ok for my buyer?

Answer : No, it is not ok.  Explanation below (and come to the October 13 Roundtable for an even better explanation from First American regarding title insurance!).

The current market has generated more than the usual normal number of institutional sellers such as REOs, institutional investors, relocation companies, foreclosed property re-sales, and simply investor-buyers-turned-sellers.  And these companies seem loathe to take any risk, real or imagined, and since many are out-of-state they are not familiar with Virginia law, custom, or practice.  As a result I am being asked quite frequently whether it is ok, from a buyer’s standpoint, to permit such a seller to strike or change the paragraph or paragraphs that address title warranty, state of title, and mechanic’s liens.  These sellers want to strike that language on the theory that they were not owner occupants and do not want to make any warranties or promises regarding the property; rather, they want to minimize or eliminate any potential liability whatsoever (at least what they perceive as liability).  
 
The REIN contract, at paragraph 8, provides (in part) that:
 
Seller shall convey marketable and insurable title to the property by general warranty deed, unless otherwise specified below, subject to any easements covenants and restrictions of record, which do not adversely affect the use of the property for residential purposes.
 
The REIN contract also provides, in paragraph 7, again in relevant part, that:
 
At settlement, seller shall execute and deliver (i) the deed, (ii) a mechanic’s lien affidavit acceptable to buyer’s title insurance company, and (iii) such certificates and agreements as may be required by state and federal authorities for tax and residency purposes.

First, as a buyer’s agent you simply cannot permit a seller to strike the clear, marketable and insurable provisions of the contract.  If you do then your buyer client has no remedy if the seller cannot deliver clear title – the buyer has to close  with bad title – and a title insurance company will not insure against known defects so that does not help.  Since clear title cannot be delivered and title insurance cannot obtained the lender will not make the loan, thus the buyer can argue that the financing contingency is not satisfied and the buyer need not close, but I worry that in response the seller could point to the language in the contract that says handwritten or notated provisions control boilerplate printed ones.  I think the buyer wins, but having to go to court to find out isn’t exactly what Bobby had in mind. 
 
I am not so much concerned about such a seller striking the general warranty deed clause, or more likely, changing it to special warranty (even to quitclaim).  While it is certainly better to have a seller convey by general warranty, that disadvantage can be mitigated by having the buyer purchase an enhanced owner’s title insurance policy.  However, you must retain the language regarding clear, marketable and insurable title otherwise your buyer may be forced to accept an owner’s title insurance policy with exceptions, that is, the title insurance company disavows any responsibility for insuring against a particular, known, problem.  In the trade we say that they “take exception” to the problem (read: buyer you are out of luck).
 
Lastly, the provision regarding mechanic’s liens is extremely important.  Lenders require affirmative coverage against mechanic’s liens.  Since they are at risk for a problem they cannot discover or eliminate, title insurance companies, including First American (the company we use), insist upon receiving an affidavit from the seller regarding the absence of work by a contractor or supplier for which a mechanic’s lien could be filed or claimed.  Title insurance companies will not issue a policy without it, and since the lender requires it, the net effect is that you simply cannot close the transaction.  This problem was/is acute enough that REIN included the requirement for it in the contract, and the Virginia General Assembly made it Virginia law.  I just concluded a recent transaction where the seller struck this language (and the buyer agreed) and the title insurance company would not insure without the affidavit.  Despite me pointing out the Virginia law that obligated the seller to provide the affidavit, they would not.  After fighting the battle for a couple of weeks we finally reached a reasonable compromise and the deal closed, but it was not a situation that lent itself to agent/broker/lawyer sanity or client satisfaction.  So please do not allow a seller to strike that requirement, and if you are trying to write a deal and the seller wants to strike it, please contact me and I will help you (and the seller) get past that dispute.  
 
Note that the VAR contract has the same language in paragraph 19 regarding the mechanic’s lien affidavit, and similar obligations with respect to title at paragraph 13.  So there is no practical difference between those of you writing on the REIN contract and those of you writing on the WAAR VAR contract.
 
As always, I think you for your business and please do not hesitate to call, email or visit me if you have any questions or problems I can help you with.

 

Hampton Roads Real Estate FAQ Legal Questions :When should a home seller cancel their insurance ?

Question : Brian, when should my sellers cancel their homeowner’s insurance?

 

Answer :

 

 

To be safe sellers should not cancel until the deed is recorded,

the payoff is received, and they have proceeds in hand.

Sellers want to cancel as soon as possible because they get

the balance of their premium refunded. But they should make

sure they are no longer deemed to be the owners of the property

because they run the risk that they will be responsible for a loss

without insurance to pay for it (a house fire for example).

Read more here`

 

 

lytle-letter-10-13-08

 

Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia, we primarily serve the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

 

 Brian D. Lytle, Esq., Lytle Law, P.C. http://www.lytlelaw.com Reprinted with permission of the author. This article was originally published in the Realtor Update , a publication of the Virginia Peninsula Association of Realtors ®

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home here.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

Page copy protected against web site content infringement by Copyscape

Williamsburg Va real estate search

 

Hampton Roads Virginia First Time Home buyers $ 7500 Tax Credit

 It is surprising to me that there has been little discussion in the news of the recent First Time Home buyers credit of $7500 that was signed in to law in July of this year.I have communicated with many home buyers who were unaware of it’s existence. Sad that such a great opportunity is going unnoticed.

Basically the First Time Home buyer tax credit  reduces a home buyer’s tax liability dollar for dollar up to $7,500 for the purchase of a principle residence that closes before July 1, 2009.  The home buyer would claim the credit on their tax return, and it would offset any tax due that year, up to $7,500.  If the did your taxes and don’t owe any taxes you will receive the full $7500 credit/.

Only first time home buyers are eligible (defined as an individual who has not had an ownership interest in a principal residence in the previous 3 years), and and your income cannot exceed $75,000 for an individual and $150,000 for a couple filing a joint return.

This tax credits,  Unlike most others has to be paid back over a period of 15 years, or when the home is sold, assuming there is equity/ proceeds.  The good news is that no interest is due, so in essence it’s a “free” loan.  In theory  a home buyer would repay $502 each year over 15 years, or reduce his or her tax refund by that amount.

Overall it’s a great incentive for qualified purchasers to enjoy a little extra spending money courtesy of Uncle Sam, ( interest free)  either to spruce up a new home or cushion the new house payment.

To further explore the First Time Home Buyer Tax Credit in the Hampton Roads Area of Virginia give me a call ( 757.254.8136) or email John@MrWilliamsburg.com

 

Hampton Roads Real Estate FAQ about Bankruptcy

Bankruptcy FAQ’s

Your guy at the legal corner is becoming increasingly concerned about a fundamental lack of understanding, at all levels, including real estate agents and affiliates, regarding the effect of bankruptcies on the sale of real estate.

Is this really a big deal?

VREB ( Virginia Real Estate Board ) and VPAR ( Va Peninsula Association of Realtors) will be the least of your concerns: not only might you forfeit your

commission, you can go to JAIL if you help a seller in bankruptcy sell real estate outside of the

bankruptcy court’s approval. The bankruptcy court takes this very seriously.

How do I know my seller is in bankruptcy?

Click here it find out the answer and read the rest of the article  

 Lytle Law is a general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral. www.LytleLaw.com

Brian Lytle is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia, we primarily serve the Virginia Peninsula (Hampton, Newport News, York County,Poquoson, James City County and Williamsburg), but we also regularly serve surrounding areas, to include New Kent, West Point, Suffolk, Isle of Wight, Gloucester and the greater Tidewater and Hampton Roads areas of Virginia.

 

 Brian D. Lytle, Esq., Lytle Law, P.C. http://www.lytlelaw.com Reprinted with permission of the author. This article was originally published in the Realtor Update , a publication of the Virginia Peninsula Association of Realtors ®

 The law may have changed since this article was written and published so caution is advised.

I have posted this article as a local REALTOR living and working in the Williamsburg Va area. I would be happy to assist you in buying or selling a  home there.  Click this link to search all real estate ,homes, condos town homes ,new and resale  currently for sale in New Town/ James City County Williamsburg VA

Click here to search all other real estate/ homes, condos ,townhomes, land for sale in the Williamsburg, James City, New Kent or York County Virginia

Click here to search for real estate,land,homes,condomiuns, town homes, commercial, in any of the following areas through the REIN MLS Database ( real estate information network) Chesapeake, Gloucester, Emporia, Greenvile, Hampton, Isle of Wight, Mathews,  Newport News, Norfolk, Northampton,  Poquoson, Portsmouth, Smithfield, Southampton, Suffolk, Sussex, Surry, VA Beach, York, Yorktown, Virginia

Click here to search real estate, land, homes, condos, town homes, commercial in the following counties of North Carolina Camden, Chowan, Currituck, Dare, Elizabeth City, Gates, Hertford, Moyock, Pasquotank, Perquimans using the REIN MLS Database

contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

Page copy protected against web site content infringement by Copyscape

Williamsburg Va real estate search

Hampton Roads Real Estate Legal Issues -I Swear, Agents as Notaries

 

 Legal Corner

I Swear, Agents as Notaries

Your man on the legal corner is quite concerned and has been for some time that agents who are also

notaries are not paying attention to the requirements imposed by that office.

 

A notary acts as an official, unbiased witness to the identity and signature of the person who

comes before the notary for a specific purpose. The person may be taking an oath, giving oral

or written testimony or signing or acknowledging his or her signature on a legal document. In

each case, the notary attests that certain formalities have been observed. The key function is to

be certain that the person appearing before the notary is who that person claims to be. A notary

who fails to perform notarial acts in accordance with the law may be sued for damages caused

by their official misconduct or prosecuted criminally. The employer of a notary may also be

liable for the notary’s misconduct under certain conditions.

The most common mistake I think agents make when acting as a notary is to not require the act

be done in their presence. A notary must have the person sign or acknowledge a pre existing

signature in the notary’s presence. That bears not just underlining but repeating: the act must

be done in the notary’s presence. It is not permissible for you to notarize a signature that was

not signed before you even if you are super ‐duper‐absolutely‐positively‐cross‐your‐heart sure

(the highest legal standard there is, of course) the person you think signed actually signed. So,

for example, it is not appropriate for you to notarize a client’s signature that was signed in

California but not notarized there even if the client tells you over the phone that the signature is

genuine. There may soon come a day when “in one’s presence” will incorporate video

conferencing or Internet cameras, but for now, at least in Virginia, they do not.

 

Another common mistake is that agent/notaries fail to require identification of someone who is

not personally known to them. You may not take a person’s word that they are who they say

they are, and you may not take a third party’s word that someone is who he or she says they

are. That is simply not appropriate. Additionally, if a document or acknowledgement calls for

the person to be under oath (uses the words affidavit or oath or sworn and subscribed) then you

must swear the person in. Frankly, my experience has been that most notaries, not just agent

notaries, frequently ignore this requirement. I realize that it can be embarrassing to ask

someone to raise his or her right hand and swear to tell the truth, etc. but you must do so.

 

Lastly, to resolve one common misconception, Virginia law does not require a notary to own a

seal or use a seal on any document although lenders frequently want them.

Legal Corner

©

Brian D. Lytle, Esq., Lytle Law, P.C. www.lytlelaw.com  Reprinted with permission of the author. This

article was originally published in the Realtor Update , a publication of the Virginia Peninsula Association

of Realtors ®

The law may have changed since this article was written and published so caution is

advised.

Please feel free to email the author at

bdlytle@lytlelaw.com

 

if you have any questions about this article or have a topic to suggest for a future article.

FAQ Legal Questions Hampton Roads Real Estate

FAQ: Brian, the seller died before we could close on our home in Hampton Roads, Virginia, can the buyer make the seller’s heirs honor the contract?

ANSWER:  Yes.

The Virginia Supreme Court answered this question in the affirmative in the case of Moore’s Adm’rs v. Fitz Randolph, 33 Va. 175 (1835).  This result is true not only in Virginia, but to my knowledge in all fifty states.  In many jurisdictions the answer will turn on whether the contract contains language stating that it is “binding on the heirs” of the parties.  Curiously, The REIN Standard Purchase Agreement no longer contains that language (the VAR contract still does), but the law (at least it seems in Virginia) presumes that it is meant to be binding on the seller’s estate anyway.
 
Sometimes the seller dies before the deed is executed and so the question becomes: who will sign the deed?  Again, Virginia law provides a pretty clear answer.  Va. Code § 64.1-148 provides that “When any deceased person shall have executed and delivered a bona fide written contract of sale, purchase option, or other agreement binding such deceased person, his heirs, personal representatives, or assigns, to convey any real property or interest therein, his personal representatives may, upon full compliance by the purchaser with the terms and conditions of such contract, option or agreement execute a deed and do all things necessary to effect the transfer of title to such real property or interest therein to the purchaser and such transfer shall be as effective as if it had been made by the deceased obligor.”
 
It may well be that closing will be delayed somewhat when a seller dies (for example, if the seller had not signed the deed you might need someone to qualify on the estate in order to sign the deed), but as you can see it is clear that the buyer can insist and require the estate to conclude the transaction.

Is the reverse true?  Can a seller require a deceased buyer’s estate to perform the contract?  While in theory it is true (the case above refused to answer that converse question), bear in mind the practical nature of our modern contracts – financing based on the buyer’s income not to mention actually being alive, owner occupancy, etc. would almost certainly dictate a different result.  Perhaps if the contract were a straightforward, non-personalized, cash deal one could bind a buyer’s estate.  Otherwise I would say no.
 
Brian Lytle Esq.

A brief  review by Real Estate Attorney Brian Lytle Esq. www.LytleLaw.com A general practice law firm located in Newport News, Virginia. From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including the Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral.

Brian is the president of Lytle Title www.LytleTitle.com Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia, we primarily serve the Virginia Peninsula (Hampton, Newport News, York County, James City County and Williamsburg), but we also regularly serve surrounding areas, to include Suffolk, Isle of Wight, Gloucester and the greater Tidewater, Virginia area.

Copyright © 2008 Brian D. Lytle. Reprinted here with permission.

For further information about real estate in Williamsburg, James City, New Kent or York County Virginia contact: John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com email

www.MrWilliamsburg.com/ website

www.MrBurg.com website

www.MrHamptonroads.com/ website

www.MrTidewater.com/ website

www.MrVaBeach.com/ website

Williamsburg Real Estate Resource. Search for Homes & Land for sale in Williamsburg Virginia & surrounding areas click here :CLICK HERE WILLIAMSBURG VA MLS HOME SEARCH

CLICK HERE FOR Real Estate Home Search Tidewater Hampton Roads Va

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

Page copy protected against web site content infringement by Copyscape

Williamsburg Va real estate search

Frst time home buyer tax credit $7500 for Williamsburg Va home buyers

Update : Monday 7/28/2008

At long last the Omnibus Housing Bill has been approved by both the House and the Senate and should be on the President’s desk today.  It is probable to be signed into law before mid-week. Below is a refined list of key provisions you should be aware.

 

1.  Raises FHA required investment to 3.5 percent from current 3 percent.

 

2. Abolishes seller funded down payment assistance on FHA loans that are not credit approved by September 30, 2008. ( i.e. Ameridream, Etc.)

 

3. Abolishes FHA risk based MIP pricing for case numbers ordered on or after October 1, 2008.

 

4. Gives FHA the ability to greatly streamline FHA condo approval provisions.

 

5. Provides $7500 tax credit for qualified first time homebuyers on homes purchased between April 9, 2008 and July 1, 2009

 

6. Upon expiration of the temporary loan limits that were put in place earlier this year under the Economic Stimulus Act:  (1) the Fannie/Freddie floor will remain at $417,000 and the FHA floor will remain at $271,050  (2) the Fannie/Freddie and FHA loan limit in higher cost areas will be the lower of 115% of area median home price or a cap of 150% of the Fannie/Freddie floor which calculates to a $625,500 cap.

 

The applicable aspects of this are the widest reaching housing legislation passed in recent memory.  We should have more clarification and confirmation later in the week.

 

 

If this bill passes the Senate there will be a $7500 tax credit for first time home buyers in the WIlliamsburg, James City, New Kent, York, Gloucester County areas.

Stay tuned for a blog posting later this week when it passes the Senate !

Approved by the House on Wednesday the housing bill  would provide tax credits of up to $7,500 for first-time home buyers and help an estimated 400,000 strapped homeowners avoid foreclosure.

The measure also would prop up troubled mortgage giants Fannie Mae and Freddie Mac, by giving the Treasury Department the ability to extend them an unlimited line of credit and buy up some of their stock, if necessary. The two companies back or own nearly half of the nation’s mortgage debt.

Hours before the vote, President Bush dropped his opposition to a provision offering $3.9 billion in block grants to help local communities devastated by foreclosures. With the White House’s support, the bill is likely to pass the Senate and become law this week.

A spokeswoman for Milwaukee Mayor Tom Barrett said the city intends to apply for some of the block grant money.

The 272-152 vote reflected a congressional push to send election-year help to struggling borrowers and to reassure nervous financial markets about the health of Fannie Mae and Freddie Mac.

The bill includes a program to help financially distressed homeowners refinance mortgages under better terms, by encouraging lenders to voluntarily restructure those mortgages. Lenders would agree to take less, and borrowers would agree to split any profits from the eventual sale of their home with the government. Borrowers could not get a second mortgage for five years.

The Congressional Budget Office estimates the program would cover about 400,000 homeowners with mortgages totaling $68 billion.

The bill also would include:

A $7,500 tax credit for first-time home buyers. The centerpiece of the bill to help stimulate housing and the economy is a temporary, The tax credit can be used for any  home purchased between April 9, 2008 and July 1, 2009. It is expected to spur home sales, eliminate excess inventory and bring otherwise qualified home buyers back into the market.
 

–A $500 to $1,000 deduction for 2008 property taxes for people who don’t itemize deductions on their tax returns.
–Higher limits, up to $625,000, on mortgages insured through Fannie and Freddie. A temporary limit of $729,750 until Dec. 31 would remain in place.

The backing for Fannie and Freddie is “a massively important provision” because it will help to restore confidence to the mortgage market, which has been buffeted by a large number of defaults, said Joe Murray, director of political and government affairs for Wisconsin Realtors Association in Madison.

Congressional analysts estimate that a rescue of the mortgage giants could cost $25 billion, and perhaps more, but they predict there is a better than even chance it will not be needed.

Murray said the other parts of the bill aimed at providing direct help for homeowners and potential buyers also will help the market.

Details of how the $3.9 billion in block grants would be distributed were not immediately available, but the city of Milwaukee already is planning how to use the money, said Eileen Force, press secretary for Mayor Barrett. Barrett was out of town on a family vacation Wednesday.

Among the city’s objectives for the money would be increasing the percentage of foreclosed properties that are sustained as primary residences, reducing the share of evictions that are foreclosure-related, and lowering the number of vacant properties, Force said in an e-mail.

U.S. Rep. Gwen Moore (D-Wis.), who represents Milwaukee, said she was pleased with the bill.

“The legislation provides the tools necessary to our local governments to address the blight of widespread foreclosure (and) it also gives working and low-income families access to affordable and sustainable housing,” she said in a statement.

But U.S. Rep. Paul Ryan (R-Wis.), whose district includes southern parts of Milwaukee County, voted against the measure, saying he objected to its provisions to stabilize Fannie and Freddie.

“This bailout plan aggravates the fundamental problem that led us here: Fannie and Freddie remain for-profit corporations but still enjoy a federal guarantee at the taxpayers’ expense against any risk of loss,” he said in a statement. “To force Americans already struggling to make ends meet to take on this risk is a dangerous precedent.”

Wisconsin’s delegation voted along party lines, with Democrats Moore, Tammy Baldwin, Steve Kagen, Ron Kind and David Obey voting in support, and Republicans Ryan, Tom Petri and Jim Sensenbrenner opposed.

In all, 45 House Republicans voted in favor of the bill.

The legislation gives Treasury Secretary Henry Paulson power to inject capital into Fannie and Freddie and provides for a federal agency to insure refinanced home loans. Paulson overcame opposition to the bill within his own party, such as that expressed by Ryan.

Democrats were more supportive.

“This is the most important piece of housing legislation in a generation,” Senate Banking Committee Chairman Christopher Dodd (D-Conn.) told reporters in Washington.

Senate Majority Leader Harry Reid (D-Nev.) said earlier he aimed to get it through the Senate by the end of the day. The bill is “a very good piece of legislation,” he said. Sen. Jim DeMint (R-S.C.) threatened to delay that schedule if he can’t amend the legislation, his spokesman Wesley Denton said.

Rep. Barney Frank , helped steer the bill after backing Paulson’s call for the emergency measures for Fannie and Freddie, which would last through 2009.

Lawmakers, intent on limiting any losses to taxpayers, tied the potential aid to the federal debt limit. Still, they also raised that ceiling to $10.6 trillion from the current $9.815 trillion in the bill.

Washington-based Fannie and McLean, Va.-based Freddie own or guarantee about half of the $12 trillion of U.S. home loans outstanding. The companies face mounting losses stemming from the collapse of the subprime market.

Automakers, manufacturers and other companies that qualify for the tax credits would benefit by as much as $30 million for making the investments this year.

Lawmakers said automakers could benefit from the tax changes as well as airlines; manufacturers such as Goodyear Tire and Rubber Co. and Owens-Illinois Inc.; and energy companies such as CMS Energy Corp., Arch Coal Inc., and Murray Energy Corp.

Reacting to the passing of this legislation, Speaker Nancy Pelosi said, “The bill the House takes up today, if enacted, will represent the most far-reaching reform of our nation’s federal housing finance system in a generation…Owning a home is an essential part of the American Dream. It’s not only about what it means to individuals, it is what it means to the community, putting down roots. It is what it means to the economy as we take an interest in our homes and make them habitable. By expanding homeownership opportunities and protecting families against foreclosure, we are helping keep the American dream of owning a home alive. By restoring confidence in the housing market, our economy can begin to grow and create jobs for the American people again.”

What’s more, the National Association of Realtors® President Dick Gaylord,  said, “Realtors® are in the business of building communities, and our 1.2 million members understand that this legislation will go a long way in helping people buy and keep their homes,” said NAR President Dick Gaylord, a broker with in Long Beach, Calif. “We look forward to prompt Senate action to finalize this bill, helping ensure that every American who can afford to own a home and wants to do so will have the opportunity and that everyone who responsibly owns a home is able to keep it. This bill must get to the president quickly, and we urge him to act immediately to sign it into law.”

“The $7,500 tax credit for first-time home buyers is a needed stimulus for a weak housing market,” said Gaylord. “This bill would extend the tax credit availability through June 2009, which would have a further positive effect on the housing market.

Man who walked away from home purchase successfully sued for $155K

Virginia Lawyer’s Weekly is reporting a fairly interesting breach of residential contract case between a buyer and seller that I thought I would share.  The seller won a $155,000 judgment against the buyer, who walked away from the deal and refused to close.  The seller’s large damage award was due to a precipitous drop in value realized on the re-sale and carrying costs.  There isn’t anything particularly notable about the law in that, but reading between the lines it would appear that the buyer realized he had made a bad deal and went to a lawyer (or his agent) to try and get out of the contract (gosh, that never happens does it?).  Clearly he was advised that he could use the POA disclosure (non-disclosure really) as an out and he canceled primarily on that basis (I guess they also claimed other outs that were to silly too discuss apparently).  Read the case here for that discussion.
 
One lesson is that what you think might be a POA may not in fact be a POA so don’t blithely assume it to be so.  Another lesson is this: I’ll look for the subsequent article, which is where that losing buyer sues his agent and lawyer for giving him bad advice.  And you wonder why I (trepidly sometimes) say “I think the answer is this …. but you never know what will happen in court”?
 
 
A brief review by Real Estate Attorney Brian Lytle Esq. www.LytleLaw.com  A general practice law firm located in Newport News, Virginia.  From two office locations on the Virginia Peninsula we serve clients and try cases across the Commonwealth including  the  Peninsula, Newport News, Hampton, Williamsburg, James City and York County areas. Lytle Law has the experience and ability to satisfy nearly all of a client’s legal needs, and where we believe we need help we will either associate appropriate counsel or provide a referral.
 
Brian  is the president of Lytle Title www.LytleTitle.com  Lytle Title & Escrow, LLC a Virginia licensed, insured, and bonded real estate settlement company doing business as Lytle Title. With offices in Newport News and WIlliamsburg, Virginia, we primarily serve the Virginia Peninsula (Hampton, Newport News, York County, James City County and Williamsburg), but we also regularly serve surrounding areas, to include Suffolk, Isle of Wight, Gloucester and the greater Tidewater, Virginia area.
 
 

Copyright © 2008 Brian D. Lytle.  Reprinted here with permission.

For further information about real estate in Williamsburg, James City, New Kent or York County Virginia  contact:
John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com  email

www.MrWilliamsburg.com/   website

www.MrBurg.com website

www.MrHamptonroads.com/  website

www.MrTidewater.com/   website

www.MrVaBeach.com/  website

Williamsburg Real Estate Resource. Search for Homes & Land for sale in Williamsburg Virginia & surrounding areas  click here :CLICK HERE WILLIAMSBURG VA MLS HOME SEARCH

CLICK HERE FOR Real Estate Home Search  Tidewater Hampton Roads Va 

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

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Williamsburg Va real estate search

 

 

Permit Me, If You Will, To Inspect; or,A Brief History of the Universe

Williamsburg Va real estate searchAn overview of Home inspection issues when buying a home in Hampton Roads, Tidewater Virginia from Brian Lytle Esq., www.LytleLaw.com www.LytleTitle.com

 

 

Let us consider for a moment the universe of problems we experience between buyers and sellers.  Surely that universe would consist in large part of the undiscovered-and-undisclosed dark matter of condition problems unknown to everyone, but I would like to focus the Lytlubble telescope on that part of our universe where I think we could make a significant contribution towards avoiding such disputes and keeping agents out of trouble: known and agreed repairs.

 

In my experience it isn’t so much that agents and parties don’t find out about problems, it is that we do such a poor job of clearly stating what we expect to be done about it and then ensuring that gets done correctly.  Clauses such as “Seller requests Buyer to replace or repair HI item #5” regularly appear in a PICRA when item number 5 in the home inspection might say “HVAC to be inspected by a licensed contractor” or “Roof near the end of its useful life.”  What in the world does it mean when you say what you said?  How could a court (or the parties, or a contractor, or a settlement agent) possibly understand what you meant by general language such as “Seller requests Buyer to replace or repair?”  And for what it is worth, stop using the word “requests” unless you are going to add “pretty please” afterwards.

 

Similarly, I am greatly concerned that too many in our profession – and if this is an indictment it is one against all of us – simply blithely ignore the fact that many, many repairs routinely done in residential real estate transactions require a permit from the City or County and an inspection.  Personally, I would like to see that stopped – so that all termite and moisture companies get the required permit and inspection when they sister or replace joists, replace the sill, band, etc., all roofers get the required permit and inspection where 10% or more of the shingles are replaced (differs in some localities), and all plumbers are required to get a permit and an inspection when a gas furnace or gas stove is replaced.  These are but a few examples.

 

I do not believe a listing agent has a duty to inquire about permits (and I would not want you to assume such a duty), but if you learn and have actual knowledge that work has been done without a permit, or that it required a licensed contractor instead of the unlicensed jackleg who is doing it, then I think your duty may well change and you should seek the assistance of your broker and legal counsel regarding your disclosure requirements under a specific set of facts.

 

Nor do I believe a buyer’s agent has a duty to inquire about permits (and I would not want you to assume such a duty), but I think a buyer’s agent has a duty to do a good job of writing repair requests, and I question whether that should include a contractual requirement for, and closing evidence of, a permit and city inspection as part of the PICRA repair request.  For example, many agents now write “receipts at closing” for repairs.  Would you say it is part of your job to ensure receipts are produced at closing?  If so, would you not then also say you should follow up to ensure evidence of permit and inspection were produced at closing?  We are in the process of re-drafting the VPAR Standard Clauses (on sale now!) and those standard, suggested, clauses have affirmative language regarding permits, inspections, licensed contractors, etc.

 

It may well be that you are from Mars and I am from Venus.  Your client, however, is from Earth and I suspect you know what he or she would want.  Please feel free to email me – Brian “Hawking” Lytle at bdlytle@lytlelaw.com if you have any questions about this article or have a topic to suggest for a future article.

 

www.LytleLaw.com  Lytle Law firm Newport News Virginia

www.LytleTitle.com  Lytle Title Company with offices in Williamsburg and Newport News

 

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Copyright © 2008 Brian D. Lytle.  Reprinted here with permission.

 

For further information about real estate in Williamsburg, James City, New Kent or York County Virginia  contact:

John Womeldorf/ REALTOR

Liz Moore & Associates

757 254 8136

John@MrWilliamsburg.com  email

www.MrWilliamsburg.com/   website

www.MrBurg.com website

www.MrHamptonroads.com/  website

www.MrTidewater.com/   website

www.MrVaBeach.com/  website

Williamsburg Real Estate Resource. Search for Homes & Land for sale in Williamsburg Virginia & surrounding areas  click here :CLICK HERE WILLIAMSBURG VA MLS HOME SEARCH

CLICK HERE FOR Real Estate Home Search  Tidewater Hampton Roads Va 

 

My other area Real Estate and Information Blogs for Hampton Roads/ Tidewater/ Williamsburg Virignia and surrounding areas

Williamsburg Real Estate Blog II

Williamsburg Real Estate Blog

Williamsburg Happenings/ Events Blog

 Page copy protected against web site content infringement by Copyscape

Williamsburg Va real estate search