Category Archives: Real Estate

Buying and selling of property in New Jersey can sometimes require the assistance of a lawyer

Which Red Flags Should I Look for When Purchasing a Residential Property?

Real-estate investment is not always an easy process when it comes to residential properties. It is important to research a property very carefully before making a decision. In some cases, properties have flaws that can significantly hurt the value of the home, your ability to rent the property and your own peace of mind. When you are choosing a property to purchase, you should look for red flags that may include: High crime rates: Before investing in a property, you should check the local crime rates. You can check if the property you are looking at has high rates of violent crime, theft or other problems. If the property is located in an area with excessive crime, it may be more difficult to find tenants. Zoning problems: There are multiple types of zoning problems that could arise when selecting a property. For example, the property you want to purchase may…
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Wells Fargo to Issue Refunds After its Mortgage Rate-Lock Scandal

Wells Fargo is in the middle of another scandal involving its business practices. According to the bank, it will reach out to 110,000 customers who might have been charged improper “rate-lock extension fees” while finalizing their mortgage paperwork. Wells Fargo will issue refunds to some of these customers. Rate-lock extension fees are what borrowers pay if they miss their mortgage paperwork deadline but still want to keep their quoted interest rate. However, borrowers are only supposed to be charged these fees if they are responsible for missing the deadline. It turns out that Wells Fargo was responsible for the late paperwork filings in some of these cases. Rate-lock extension fees can be costly for borrowers with expensive mortgages. According to Wells Fargo, it assessed $98 million in rate-lock fees for 110,000 customers between September 2013 and February 2017. The bank believes it will issue less than $98 million in refunds…
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Do I Need a Lawyer for a Construction Dispute?

Lawsuits are common in the construction industry, companies and contractors can be sued for construction delays, zoning and property use violations, illegal mortgage practices, and many other reasons. Even small construction jobs can turn into complicated legal battles. Common Reasons for Construction Lawsuits Unforeseen conditions: Things like an inability to obtain construction permits, weather damage, and underestimating the cost of building can halt or completely undermine a construction project. This can lead to legal claims. Bad construction work: Unfortunately, not all construction businesses will take the necessary care and precaution to do a good job. Shoddy work can lead to litigation, like the case mentioned with the New York City’s Governors Island Trust above. Property inspections: Inspections determine home values, questions with zoning and land use, and debates can occur about which party will sponsor the inspection. Since these inspections are so important, legal claims can form. There are many…
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