How To Flip A House

If you are planning to flip a house in the near future, consider these tips to help you better plan the process.  Flipping a house can be an excellent way to rejuvenate a community, seek a return on a financial investment, and help restore the value of a home.  It has its challenges however and seeking an expert for advice during this process may be critical to making or breaking the real estate deal. Joan Agostino is well-versed in real estate law and can provide the insight you need during this process.  If you are looking for a real estate lawyer in Nassau County, read this article and contact Joan Agostino for an initial consultation.  

Where is the title?

So you have found the house you want to acquire and have done the necessary research on it.  This includes, for example, the current value, market value, and taxes on the property, in addition to the local amenities including transportation score, school systems, and community demographics.  It is important at this time to do a title search for the current property owner. It frequently occurs, especially in the distressed markets arena, that the person selling the property does not actually own the title to the property.  This means that the buyer may be subject to liens, tax authorities, and other municipalities which were not initially projected in the original plan. If you are looking for a real estate lawyer in Nassau County, contact Joan Agostino because she specializes in all real estate matters.

Hiring a Lawyer vs. Only Using a Real Estate Agent

A lawyer’s goal is to prevent any legal issues that may arise before, during and after a real estate deal.  The lawyer has the buyer’s best interest in mind because they are getting paid to look out for the best case scenario of the client.   A real estate agent, on the other hand, is more interested in closing the deal in order to get paid commission. Also, consider that a lawyer has the resources and tools to interpret contracts, settle disputes, and legally close a transaction.  All of these utilities are necessary when properly closing a deal. If you reside in New York State, a real estate attorney is mandated to close the sale.

Avoiding Mortgage Loan Fraud

Most people do not have the money to buy a home with a lump sum cash payment.  This means that the buyer will have to take out a loan from a bank or lending agency to mortgage the home.  Seeking advice from a lawyer will help you avoid poor lending deals such as high-interest rates, false statements, and “no money down” gimmicks.  In addition, a lawyer can do the due diligence to ensure the lender has the correct local and state licenses to finance the deal.

Contact Joan Agostino if you are in the market for a real estate lawyer in Nassau County.  She is a trusted lawyer on Long Island with over 25 years of experience and a team of compassionate attorneys here to help you.  For any legal questions or inquiries, contact Joan Agostino today to successfully flip a house!