Blog – St. Louis Real Estate Lawyer

INVESTOR SERVICES – WE ASSIST IN BUYING AND SELLING NON-PERFORMING NOTES AND NON-PERFORMING REAL ESTATE ASSETS

  INVESTOR SERVICES Our office assists in connecting BUYERS and SELLERS of NON PERFORMING REAL ESTATE ASSETS and NON PERFORMING REAL ESTATE NOTES. NON-PERFORMING REAL ESTATE ASSETS Inherited Properties  – …

Quit claim deed Missouri registration online for Quitclaim deeds by Attorney Mark Roy.

Quit claim deed Missouri

  Quitclaim Deed in Missouri Missouri Quitclaim Deeds can be complicated legal documents. They are commonly used to add/remove someone to/from real estate title or deed (divorce, name changes, family …

DANGERS OF A NEW HOME CONSTRUCTION CONTRACT

  Since most builder contracts favor the builder, you need to read them carefully and have your attorney review the contract as well. Before you sign anything, educate yourself and …

3 DIFFERENT TYPES OF COMMERCIAL LEASES

3 Different Types of Commercial Real Estate Leases There are three basic types of commercial real estate leases. These leases are organized around two rent calculation methods: “net” and “gross.” …

WHAT IS A NOVATION AGREEMENT? NOVATION VS. ASSIGNMENT

Novating a contract Sometimes businesses enter into agreements, which they later need to give up, be it because of internal restructuring or following an asset purchase. In these types of …

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Real Estate Law, Deeds, Purchase Contracts, Review Contracts, Real Estate Disputes, Realtor Disputes, Buyer Representation, Seller Representation, Discounted Commission Representation, Contract Assignment, Wholesaling, Leases, Commercial, Residential, Draft Real Estate Contracts, …

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Real Estate Law, Deeds, Purchase Contracts, Review Contracts, Real Estate Disputes, Realtor Disputes, Buyer Representation, Seller Representation, Discounted Commission Representation, Contract Assignment, Wholesaling, Leases, Commercial, Residential, Draft Real Estate Contracts, …

IF YOU ARE A PURCHASER OF AN INVESTMENT PROPETY YOU NEED TO OBTAIN AN ETOPPEL CERTIFICATE TO AVOID LAWSUITS AND POTENTIAL CLOUDS ON TITLE

An Estoppel Certificate (or Estoppel Letter) is a document often used in due diligence in Real estate and mortgage activities. It is a document often completed, but at least signed, by a tenant used in …

PENDING RENTER CRISIS

At the coronavirus pandemic’s onset in March 2020, millions of people saw cuts to their work hours, and millions more were laid off. The result of this was an inability …

NOMINEE MANAGER

For many, the use of a nominee manager is a simple and effective way to maintain private business matters private and to make the business owner a less attractive target …

LAW ON RETURN OF DEPOSIT IN MISSOURI – PET DEPOSIT DOES NOT COUNT AS DEPOSIT REQUIRED TO BE RETURNED OR ACCOUNTED FOR UNDER STATUTE

2015 Missouri Revised StatutesTITLE XXXVI STATUTORY ACTIONS AND TORTS (521-538)Chapter 535 Landlord-Tenant ActionsSection 535.300 Security deposits, limitation–return of deposit or notice of damages, when–withholding deposit, when–tenant’s right to damages–security deposit …

RULES OF HOME AFFORDABILITY

The rules of home affordability Mortgage lenders use something called qualification ratios to determine how much they will lend to a borrower. Although each lender uses slightly different ratios, most …

PROS AND CONS OF DOING AN NEW LLC FOR EVERY REAL ESTATE TRANSACTION

Pros of Using a New LLC Every Deal Ownership structure: Perhaps you are working with several different owners on a new deal. It makes sense to have a new LLC, …

MISTAKES REAL ESTATE PROPERTY MANAGEMENT COMPANIES MAKE

1. Scaling Without Systems In Place I see a lot of property managers that fail once they hit a certain scale because they don’t have systems in place. They get …

St. Louis Real Estate Lawyer

WHAT IS SUBROGATION?

What Is Subrogation? Subrogation is a term describing a legal right held by most insurance carriers to legally pursue a third party that caused an insurance loss to the insured. …

St. Louis Real Estate Lawyer

FLAT FEE LEGAL PROTECTION

http://flatfeelegalprotection.com LEGAL PROTECTION for your REAL ESTATE TRANSACTION. Have an attorney review your documents before signing or if you do not have an agent, our office can draft all the …

St. Louis Real Estate Lawyer

CERTIFICATE-OF-TRUST

Banks, financial institutions, and other lenders often make loans to trusts or loans that are guaranteed, collateralized, or otherwise supported by trusts. Lenders should perform due diligence for a trust, …

St. Louis Real Estate Lawyer

AFFIDAVIT OF DEATH

Transferring Joint Tenancy Real Estate After a Death Property held in joint tenancy is usually easy to transfer to the survivor after the other owner dies. Many people, especially couples, …

St. Louis Real Estate Lawyer

TRUSTS AND DIVORCE

Trusts and Divorce Trusts are an important tool that families can use to protect assets and pass wealth to future generations. When the beneficiary of a trust is facing divorce, …

St. Louis Real Estate Lawyer

5 BIGGEST SELLER MISTAKES

Mistake #1 – Overpricing Everyone wants to realize as much as possible when they list their home for sale. Here in the Lakes Region of New Hampshire, just like the …

St. Louis Real Estate Lawyer

WHAT IS USUFRUCT?

Usufruct (/ˈjuːzjuːfrʌkt/)[1] is a limited real right (or in rem right) found in civil-law and mixed jurisdictions that unites the two property interests of usus and fructus: Usus (use) is …

St. Louis Real Estate Lawyer

WHAT IS A WRAP AROUND MORTGAGE?

A wraparound mortgage, more commonly known as a “wrap”, is a form of secondary financing for the purchase of real property. The seller extends to the buyer a junior mortgage …

St. Louis Real Estate Lawyer

BENEFITS OF OWNERS FINANCING

Offering owner financing is a sensible way to sell property and extremely common all over the country (it has been estimated that approximately 10%-15% of property sold is now done …

St. Louis Real Estate Lawyer

MARITAL PROPERTY

Types of Property Divided in a Missouri Divorce Proceeding When couples go through a divorce, they need to address a variety of issues, including how to divvy up their property …

St. Louis Real Estate Lawyer

BUYER-SELLER DISPUTE RESOLUTION SYSTEM (DRS)

Introduction This Dispute Resolution System (DRS) is not intended to replace arbitration or mediation activities conducted by associations’ Professional Standards Committees. The program is designed to resolve disputes between buyers, …

St. Louis Real Estate Lawyer

SPECIFIC PERFORMANCE

Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific action, such as to complete the …

St. Louis Real Estate Lawyer

CO-LIVING

The Rising Trend of Co-Living Spaces By now, you’ve already heard about coworking. But there’s a new concept on the way: Co-living, which is, in a sense, the coworking equivalent of finding housing. A …

St. Louis Real Estate Lawyer

WHAT IS A CORRECTIVE DEED?

What is a Corrective Deed? A Corrective Deed is a special type of deed used to fix problems in deeds that have already been recorded. Unlike other types of deeds …

St. Louis Real Estate Lawyer

REAL ESTATE LEVY

What is a Levy? A levy is the legal seizure of property to satisfy an outstanding debt. In the U.S., the Internal Revenue Service (IRS) has the authority to levy …

St. Louis Real Estate Lawyer

COMMISSION CREDITS

How Commission Credits Works Let’s say that an agent has signed a listing agreement with a seller. The seller agrees to pay the agent a 5 percent commission. The agent …

St. Louis Real Estate Lawyer

DISCLOSURES THAT FLIPPERS MUST MAKE

When you sell a property, you’re required to disclose information about its condition that might negatively affect its value. If you willfully conceal such information, you could be convicted of …

St. Louis Real Estate Lawyer

UNRECORDED CONTRACT FOR DEED

Risks and realities of the contract for deed While contracts for deed offer some advantages over a traditional mortgage, such as speed and simplicity, they can entail distinct risks for …

St. Louis Real Estate Lawyer

FINANCIAL FRAUD

The following examples of Financial Institution Fraud Investigations are written from public record documents on file in the courts within the judicial district where the cases were prosecuted. California Woman …

St. Louis Real Estate Lawyer

MONTH TO MONTH TENANCY

Benefits of Month to Month Rentals for Tenants Sometimes tenants need a place to stay but do not want a long term commitment. For these tenants, finding a landlord who …

St. Louis Real Estate Lawyer

LIFE ESTATE DEED

How Life Estate Deeds Work Life estate deeds work by dividing the property into two types of interests. One interest is measured based on the owner’s lifetime and is called …

St. Louis Real Estate Lawyer

REVERSE MORTGAGES

If you’re 62 or older – and want money to pay off your mortgage, supplement your income, or pay for healthcare expenses – you may consider a reverse mortgage. It …

St. Louis Real Estate Lawyer

EARNEST MONEY DEPOSITS

Real estate has its fair share of horror stories. One that keeps both first-time homebuyers and seasoned pros up at night is the thought of sellers walking away with their …

St. Louis Real Estate Lawyer

ROOFING AND INSURANCE

Insurance companies view roofs as one of the most important parts of a home. Roofs protect homes from the elements and can prevent home insurance claims. If you have a …

St. Louis Real Estate Lawyer

WHAT IS A WRAP AROUND MORTGAGE?

“What is a wrap-around mortgage, and who is it good for?” A wrap-around mortgage is a loan transaction in which the lender assumes responsibility for an existing mortgage. For example, …

St. Louis Real Estate Lawyer

WHAT IS GENTRIFICATION?

What is Gentrification? Gentrification is a general term for the arrival of wealthier people in an existing urban district, a related increase in rents and property values, and changes in …

St. Louis Real Estate Lawyer

CASHIER CHECK FRAUD

Cashier’s checks have a reputation for being safe, and that’s what makes them perfect for scams. Whether you’re selling something online or in-person, cashier’s checks deserve extra attention. Get familiar …

St. Louis Real Estate Lawyer

CASH FOR KEYS

What’s “Cash for Keys” in a Foreclosure? If you lose your home to a foreclosure sale, the new owner might offer you a lump-sum of money to voluntarily move out. …

St. Louis Real Estate Lawyer

GIFT TAX

What is the gift tax? The gift tax is a tax on the transfer of money or property to another person while getting nothing (or less than full value) in …

St. Louis Real Estate Lawyer

BLOCKCHAIN TECHNOLOGY

What is Blockchain? If this technology is so complex, why call it “blockchain?” At its most basic level, blockchain is literally just a chain of blocks, but not in the …

TITLE INSURANCE

What Is Title Insurance And Why Is It Important? The median home value in the United States has increased by $16,000 over the last 12 months, according to data released …

St. Louis Real Estate Lawyer

NON DISCLOSURE AGREEMENTS

In business, there are numerous instances in which you may want to share confidential information with another party. But the key to doing so safely is making sure that the …

St. Louis Real Estate Lawyer

11 REAL ESTATE MISTAKES

As a real estate professional, you are constantly being challenged. You need to make decisions that ultimately affect your buyers and sellers and, of course, your business. These choices can …

St. Louis Real Estate Lawyer

RESTRAINT ON ALIENATION

A restraint on alienation, in the law of real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling or otherwise …

St. Louis Real Estate Lawyer

WHAT DO REAL ESTATE LAWYERS DO?

What do Real Estate Attorneys do? So you’ve decided to take the big step of buying a home. It’s probably the biggest purchase and most expensive investment you’ll ever make. …

St. Louis Real Estate Lawyer

WHAT IS A SERIES LLC?

What is a Series LLC? A series LLC is a unique form of limited liability company (“LLC”) in which the articles of formation specifically allow for unlimited segregation of membership …

St. Louis Real Estate Lawyer

SELLING A HOUSE WITH A TENANT

While selling a Kansas City or St. Louis house with a tenant isn’t always the ideal situation. Consider how it will affect them before making any bold decisions. If you …

St. Louis Real Estate Lawyer

SPECIAL USE REAL ESTATE VALUATION

What Is Special Use Real Estate Valuation? Real estate is normally valued at an amount that reflects its “highest and best use” for reasons concerning the federal estate tax. In …

St. Louis Real Estate Lawyer

KANSAS TRANSFER ON DEATH DEED

Kansas Transfer on Death Deed What is a Transfer on Death Deed? A transfer-on-death (TOD) deed, also called a beneficiary deed, looks like a regular deed used to transfer real …

St. Louis Real Estate Lawyer

CAP RATE

Since prehistoric times, we humans have been in the business of evolution. Such is the scientific truth. Unless, that is, we are talking about cap rates, in which case there …

St. Louis Real Estate Lawyer

REAL ESTATE AGENT FUNDAMENTALS

These days, more than half of buyers start their home search online, according to the 2018 Profile of Homebuyers & Sellers, released by the National Association of Realtors (NAR). However, …

St. Louis Real Estate Lawyer

REIT FUNDAMENTALS

Prior to the onset of the industrial revolution, wealth and power were measured primarily in terms of the amount of land owned by an individual or family. Although the twentieth …

St. Louis Real Estate Lawyer

COMMUNITY PROPERTY

Community property is a type of joint ownership of assets between married couples. It’s the law in nine states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. …

St. Louis Real Estate Lawyer

SIMULTANEOUS CLOSING

What Is Simultaneous Closing? Simultaneous closing (SIMO) is a real estate financing strategy in which two simultaneous transactions occur during the closing on a single piece of property. In this …

St. Louis Real Estate Lawyer

STIGMATIZED PROPERTY

Stigmatized property In real estate, stigmatized property is property that buyers or tenants may shun for reasons that are unrelated to its physical condition or features. These can include the …

St. Louis Real Estate Lawyer

WIRE FRAUD IN REAL ESTATE CLOSINGS

Imagine arriving at the settlement agent’s office for your closing. Everything went without a hitch: The buyer provided all documentation plus the Realtor®, closing attorney/title company, and lender have performed …

St. Louis Real Estate Lawyer

POOL OR NO POOL?

As we head into the heart of summer, thoughts naturally turn to fun in the sun while staying cool. For some, that might even mean contemplating the addition of a …

St. Louis Real Estate Lawyer

WHAT IS EMINENT DOMAIN?

What is Eminent Domain? Eminent domain is the power the United States government, states, and municipalities to take private property for public use, following the payment of just compensation. Breaking …

St. Louis Real Estate Lawyer

WHAT IS A LEGAL GIFT?

A gift, in the law of property, is the voluntary transfer of property from one person (the donor or grantor) to another (the donee or grantee) without full valuable consideration. …

St. Louis Real Estate Lawyer

EQUITABLE ESTOPPEL

Equitable estoppel is a defensive doctrine preventing one party from taking unfair advantage of another when, through false language or conduct, the person to be estopped has induced another person …

St. Louis Real Estate Lawyer

PARTITION OF REAL ESTATE

A partition is a term used in the law of real property to describe an act, by a court order or otherwise, to divide up a concurrent estate into separate …

St. Louis Real Estate Lawyer

MISSOURI TAX SALES

How Property Tax Sales Work in Missouri Under Missouri law, when you don’t pay your property taxes, the county collector is permitted to sell your home at a tax sale …

ACCESSORY DWELLING UNITS

ACCESSORY DWELLING UNITS An accessory dwelling unit (ADU) is a smaller, independent residential dwelling unit located on the same lot as a stand-alone (i.e., detached) single-family home. ADUs go by …

St. Louis Real Estate Lawyer

ALIENATION

In property law, alienation is the voluntary act of an owner of some property disposing of the property, while alienable is the capacity for a piece of property or a …

St. Louis Real Estate Lawyer

REALTOR FIDUCIARY DUTIES

Fiduciary Duties A real estate broker who becomes an agent of a seller or buyer, either intentionally through the execution of a written agreement, or unintentionally by a course of …

St. Louis Real Estate Lawyer

TRANSFER ON DEATH DEED

TRANSFER ON DEATH DEED (TODD) Planning for what happens to your home after your death can be difficult. Transfer on death deeds provide a simple, cheap way to make sure …

St. Louis Real Estate Lawyer

REAL ESTATE FRAUD

Guide to Fighting Real Estate Deed Fraud I. The Problem As real estate owners and industry professionals, we understand the importance of regular maintenance, property insurance, and other routine tasks …

St. Louis Real Estate Lawyer

EVICTION VS. UNLAWFUL DETAINER

This article gives a short overview of evictions (unlawful detainers) from a landlord’s perspective. When you, the landlord, need to evict a tenant, you may not use self-help measures to …

St. Louis Real Estate Lawyer

BENEFITS OF OWNING A HOME

Homeownership is a rite of passage many of us dream of. Owning a home means putting down roots and having a space that is truly yours. It’s a significant moment …

St. Louis Real Estate Lawyer

TAX INCREMENT FINANCING

Tax Increment Financing (TIF) Tax increment financing, or TIF, subsidizes companies by refunding or diverting a portion of their taxes to help finance development in an area or (less frequently) …

St. Louis Real Estate Lawyer

THE FAIR HOUSING ACT

  Everyone who applies for housing has the right to be treated the same. The Fair Housing Act was created with the goal of advising landlords, lenders, buyers, and renters …

St. Louis Real Estate Lawyer

10 ARCHITECTURAL HOME STYLES

Building a custom home gives you complete control over every aspect of the design. There are dozens of architectural styles to base your custom home on, from historical approaches to …

St. Louis Real Estate Lawyer

REQUIRED HOME SALE DISCLOSURES

1. Death in the Home 2. Neighborhood Nuisances 3. Hazards 4. HOA Information 5. Repairs 6. Water Damage 7. Missing Items 8. Other Possible Disclosures 1. Death in the Home …

St. Louis Real Estate Lawyer

9 COMMON NOTARY MISTAKES

1- Failing to Require Personal Appearance Personal appearance is the very foundation of notarization. Except in the few states where online or remote notarization has been legalized, personal appearance is …

St. Louis Real Estate Lawyer

12 TIPS FOR A HAPPY LIFE

1. Know yourself Something that’s clearer to me every day is that there’s no magic, one-size-fits-all solution for building a happy, healthy, and productive life. You have to know yourself: …

St. Louis Real Estate Lawyer

WHAT IS A STEP UP BASIS?

What is a Step-Up in Basis? A step-up in basis is the readjustment of the value of an appreciated asset for tax purposes upon inheritance. The higher market value of …

St. Louis Real Estate Lawyer

ASSIGNMENT OF CONTRACT

Assignment of contracts is the legal transfer of the obligations and benefits of a contract from one party, called the assignor, to another, called the assignee.3 What assignment of a …

St. Louis Real Estate Lawyer

1031 EXCHANGE

A 1031 Exchange, also called a Starker Exchange or Like-Kind Exchange is a powerful tax-deferment strategy used by some of the most financially successful investors. This is, perhaps, even more …

St. Louis Real Estate Lawyer

AGENCY LAW

The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is …

St. Louis Real Estate Lawyer

WHAT IS A LIFE ESTATE?

The phrase “life estate” often comes up in discussions of estate and Medicaid planning, but what exactly does it mean? A life estate is a form of joint ownership that …

St. Louis Real Estate Lawyer

WHAT IS DOWN ZONING?

Down zoning is the process by which an area of land is rezoned to a usage that is less dense and less developed than its previous usage. This is typically …

St. Louis Real Estate Lawyer

WHAT DO REAL ESTATE AGENTS DO?

Just what do real estate agents do all day? Before you can understand what real estate agents do all day, you must first remove the word “typical” from your vocabulary. …

St. Louis Real Estate Lawyer

REAL ESTATE AND PROBATE

HOW DO PROBATE REAL ESTATE SALES WORK? Probate is simply the legal process that settles a deceased person’s debts and formally passes their property’s legal title to the intended heirs. …

St. Louis Real Estate Lawyer

5 TYPES OF PROPERTY OWNERSHIP

1. Sole Ownership Sole ownership occurs when a single person owns a complete interest in a property or asset. Ownership is conveyed from one person to another through transfer documents, …

St. Louis Real Estate Lawyer

WHAT IS MULTIFAMILY HOUSING

Multifamily Housing – An Overview Crowdfunding for real estate is comprised of a number of different asset classes in which one can invest. We’ve earlier discussed many different segments of …

REAL ESTATE AND TAXES

All real estate investors will benefit from taking a proactive approach to taxes. The reality is there is little you can do retroactively to impact your results once the year …

REAL ESTATE DAMAGES AND REMEDIES

This outline is intended to provide a general overview of Missouri Construction Law. While the authors have described several topics below, the discussion of any particular topic is not intended …

St. Louis Real Estate Lawyer

RADON

What Is Radon? How does radon affect your health? What are the symptoms of radon exposure? How are you exposed to radon? How can I protect myself? Radon is a …

St. Louis Real Estate Lawyer

CONTRACT CONTINGENCIES

For those who aren’t familiar, a contingency is a statement (a “stipulation” it’s sometimes called) that is added to your contract that will allow you the right to back out …

CONTRACT FOR DEED

Because of recent credit tightening, some homebuyers may be less likely to qualify for mortgages than they were just a few years ago. Some financial counselors predict that borrowers with …

St. Louis Real Estate Lawyer

DEATH AND REAL ESTATE

Understanding Ownership of Property When an estate planning attorney meets with a new client, one of the first questions the attorney asks is “What do you own and how is …

St. Louis Real Estate Lawyer

REAL ESTATE SYNDICATION

Both get a share of the profits based on time and money invested. Real estate syndication is an effective way for investors to pool their financial and intellectual resources to …

St. Louis Real Estate Lawyer

CODE OF CONDUCT FOR REALTORS

Code of Conduct Thanks for choosing to participate in the exchange of ideas and information in the Missouri REALTORS®online community, THE LANDING. To ensure the best possible experience for all …

St. Louis Real Estate Lawyer

REAL ESTATE APPRECIATION

One site http://(www.realestateabc.com) cites a 6.34% annual appreciate rate since 1968. But, that does account for: state, city, county, or neighborhood variations. It doesn’t account for type of house (single …

St. Louis Real Estate Lawyer

THE INTERNET TURNS 30 TODAY

Today, 30 years on from my original proposal for an information management system, half the world is online. It’s a moment to celebrate how far we’ve come, but also an …

St. Louis Real Estate Lawyer

STATE BY STATE CLOSING GUIDE

ALABAMA Attorneys and title companies handle closings. Conveyance is by warranty deed. Mortgages are the customary security instruments. Foreclosures are non-judicial. Foreclosure notices are published once a week for three …

St. Louis Real Estate Lawyer

WHAT IS DISPOSABLE INCOME?

You’ve likely heard terms such as net income, gross income, adjusted gross income, take-home pay, and disposable income. But do you really know what each term means, both in definition …

St. Louis Real Estate Lawyer

KANSAS CITY REAL ESTATE

Cycle-low construction at odds with tightening retail vacancy. As unemployment reached the low-3 percent range by the end of 2018, the retail environment in Kansas City remains well positioned for …

St. Louis Real Estate Lawyer

RISE OF CREDIT CARD DEBT

Rising interest rates are providing welcome relief to savers. As previously reported, earning at least a 2% APY on your savings from an FDIC insured bank account is now much …

St. Louis Real Estate Lawyer

RENTING OUT ROOMS

Renting out a room in your house is sometimes favorable to leasing the entire property. It offers more flexibility for your own private use of the other rooms, and renting …

St. Louis Real Estate Lawyer

ST. LOUIS COMMERCIAL REAL ESTATE FORECAST

Economy St. Louis labor market fundamentals ended the year with continued growth and optimism as unemployment reached further historical lows during the fourth quarter of 2018. Seasonally adjusted unemployment reached …

St. Louis Real Estate Lawyer

MISTAKES COMMERCIAL LANDLORDS MAKE

This list summarizes some of the most common errors made by commercial Landlords and their property managers when they find themselves dealing with a defaulting Tenant. 1. LOCKING THE DOORS …

St. Louis Real Estate Lawyer

MARITAL WAIVER IN MISSOURI

MARITAL WAIVER IN MISSOURI Marital Rights in Missouri. A title companies perspective Several areas often require delicate handling when requesting information. One of the most frequent involves requesting information on …

Roy Legal Group

LEGACY PLANNING

What is Legacy Planning Legacy planning is a financial strategy that prepares a person to bequeath his or her assets to a loved one or next of kin after death. …

2019 REAL ESTATE FORECAST

There’s no doubt about it: the 2018 housing market has seen its ups and downs. The year started with sky-high home prices, historically low mortgage rates and a definitive upper …

St. Louis Real Estate Lawyer

THE SANDWICH GENERTATION

With an aging population and a generation of young adults struggling to achieve financial independence, the burdens and responsibilities of middle-aged Americans are increasing. Nearly half (47%) of adults in …

Roy Legal Group

WHY REAL ESTATE BUILDS WEALTH

Inflation Inflation is something we all take for granted. The price of everyday goods increases on a gradual basis, and we have no choice but to pay the increased price. …

FSBO STATISTICS

For Sale By Owner (FSBO) Statistics FSBOs accounted for 7% of home sales in 2017. The typical FSBO home sold for $200,000 compared to $265,500 for agent-assisted home sales. FSBO …

St. Louis Real Estate Lawyer

CURRENT REAL ESTATE TRENDS

Okay, 2018 was quite the tease in the housing market. The year started out hot, only to taper off halfway through. But plenty of Americans still traded their For Sale …

St. Louis Real Estate Lawyer

MINORS AND REAL ESTATE

There are times when a minor is in title. Maybe the deed from Mom & Dad says “Susan B. Jones, a minor.” Or, when she shows up to sign papers, …

St. Louis Real Estate Lawyer

BABY BOOMERS

Will baby boomers turn into party poopers when they unload their homes in large numbers starting in the next decade? Could they create an indigestible oversupply in the market that …

St. Louis Real Estate Lawyer

REMODEL OR MOVE?

REMODEL OR MOVE? You’ve been in your house for a while and are still fond of the place. But it’s no longer exactly what you need or want. So, do …

St. Louis Real Estate Lawyer

TIME VALUE OF MONEY

What is the Time Value of Money? The time value of money (TVM) is the concept that money available at the present time is worth more than the identical sum …

REAL ESTATE AND POLITICS

REAL ESTATE AND POLITICS Whether or not the average homeowner realizes it, politics is the most important factor influencing the price of real estate, affecting the state of the economy, …

St. Louis Real Estate Lawyer

ESTOPPEL

Estoppel is a common law doctrine which, when it applies, prevents a litigant from denying the truth of what was said or done. The doctrine of estoppel by deed (also …

St. Louis Real Estate Lawyer

EASEMENTS

An easement is a property right that gives its holder an interest in land that’s owned by someone else. It’s common for people to lack a clear understanding of easements …

Roy Legal Group

WHAT IS A CORRECTIVE DEED?

Once a deed is recorded, it becomes part of the public record and cannot be changed. However, sometimes an error in the recorded deed is discovered by one of the …

Roy Legal Group

WHAT IS A NON-PROFIT?

When you think of a “nonprofit” what do you think of? Most likely, you think of a group making a difference in your community. Maybe you are thinking of a …

Roy Legal Group

CLOSING A REAL ESTATE DEAL

Closing a property deal can be a long and stressful exercise that involves lots of steps and procedural formalities. Closing occurs when you sign the papers that make the house …

Roy Legal Group

WHAT IS A PARTY WALL?

Party Wall A partition erected on a property boundary, partly on the land of one owner and partly on the land of another, to provide common support to the structures …

Roy Legal Group

RECORDING REQUIREMENTS IN MISSOURI

Requirements for Recording Real Estate Documents The Following Documents Do Not Require A Legal Description For Recording. Death Certificates, Power of Attorneys, Wills, DD214, Certificates, and Miscellaneous Documents. The following …

Roy Legal Group

THE NEW HOUSING DEMAND

            Take a step back from whatever housing data you normally look at. We’ll begin big picture with how many housing units are needed to …

Roy Legal Group

WHAT ARE LIENS ON REAL ESTATE?

  Attorney Whether by the homeowner’s choice or the actions of a disgruntled creditor or contractor, there are a number of ways that the owner’s title to the property can …

Roy Legal Group

CLOSING COSTS

    Many homebuyers think that saving for their down payment is enough to buy the house of their dreams, but what about the closing costs that are required to …

Roy Legal Group

MELLENNIALS AND REAL ESTATE

  Whether you’re a real estate agent or broker, it’s hard to deny that millennials – those born in the years between 1982 and 2004 – continue become the largest …

Roy Legal Group

MECHANICS LIENS IN MISSOURI

Drafting a mechanic’s lien and “notice of intent” (§429.100) involves crucial steps that can be harmful to your case if overlooked. Whether you forgot to verify the “just and true …

Roy Legal Group

    The question is not why, but WHERE to invest in real estate. When choosing the location of a rental property, a real estate investor puts a number of …

Roy Legal Group

WHAT IS A QUIT CLAIM DEED?

  To transfer real property, you need to use a written document known as a deed. One common type of real estate deed is the quitclaim deed. You may also …

Roy Legal Group

2019 REAL ESTATE TRENDS

    The year started with sky-high home prices, historically low mortgage rates and a definitive upper hand for sellers. In recent months though, home price growth has faltered, rates …

IS LOCATION REALLY EVERYTHING?

Ask just about any real estate agent to list the three most important things a property should have, and you’ll likely hear: “location, location, location.” That phrase has been in …

MARRIAGE AND REAL ESTATE

Family law issue Married couples usually own most, if not all, of their valuable property together. If you want to leave everything to your spouse, as many people do, you …

REAL ESTATE SYNDICATION

Real Estate Syndication Real estate syndication is “crowdfunding for real estate” before crowdfunding for real estate ever existed. In its most simple form, both syndication and crowdfunding involve pooling capital …

COST OF BUILDING A HOUSE

Cost of Building a House Many things, including building materials, could affect the price of your new home. Two of the more prominent factors are regulatory costs and level of …

HOUSING MARKET COOL DOWN?

They were fed up with Seattle’s home bidding wars. They were only in their late 20s but had already lost two battles and were ready to renew with their landlord. …

HOUSING: THEN. NOW, AND FUTURE

Housing: Then, Now, and Future by Moya K. Mason Houses have changed a lot over the last three hundred years. Availability of construction materials, development of indoor plumbing and heating …

DIVORCE AND FINANCES

Financial Stability After Divorce While Millennials have proven to be a boon for the marriage statistics, this sentiment cannot be echoed for the over fifties. Baby Boomers experienced a 109% …

HAPPY VETERANS DAY

The United States Congress adopted a resolution on June 4, 1926, requesting that President Calvin Coolidge issue annual proclamations calling for the observance of November 11 with appropriate ceremonies.[2] A …

HAPPY VETERANS DAY

The United States Congress adopted a resolution on June 4, 1926, requesting that President Calvin Coolidge issue annual proclamations calling for the observance of November 11 with appropriate ceremonies.[2] A …

REAL ESTATE AND SCAMMERS

Scams targeting real estate transactions are on the rise, according to the FBI. Experts say there are many simple ways that consumers and real estate professionals can protect themselves and …

REAL ESTATE AND MONEY LAUNDERING

If Michael Wolff’s reporting is to be believed, Stephen K. Bannon’s assessment of the most dangerous threat posed by special counsel Robert S. Mueller III’s investigation is not the one …

MEDICARE AND REAL ESTATE

June 2015 A person can apply for Medicaid to pay for nursing home care or care in the home when the countable, available resources have been reduced to $2,000 plus …

USA HOME VALUES 1940-2000

If you want to buy a house this year, you may well be paying around $199,200, the median price for a home in the U.S., according to Zillow. That number …

5 REASONS TO OWN REAL ESTATE

Real estate is a great investment for many reasons. You can enjoy an excellent rate of returns, amazing tax advantages and leverage real estate to build your wealth. Here are …

TINY HOUSES

As a rule, people in New York wish for smaller places to live about as often as people on airplanes wish for smaller seats. I used to dream sometimes that …

REAL ESTATE AND MARRIAGE

Most states, except those listed as community property states, below, use the “common law” system of property ownership. In these states, it’s usually easy to tell which spouse owns what. …

THE PSYCHOLOGY OF REAL ESTATE

If you’ve ever house-hunted, you’ve probably got a sense that real estate purchases don’t represent consumers at their most rational. Did you like a house or apartment more, or less, …

BENEFITS OF FSBO

The biggest reason to consider some form of FSBO is the money you may save. If your house sells for $300,000, a traditional real estate commission of 6 percent would …

A BRIEF HISTORY OF ST. LOUIS

A Brief History of St. Louis A Brief History of the City of St. Louis Early History: 1764-1803 Pierre Laclede Liguest, recipient of a land grant from the King of …

FOUNDATION REPAIR

Foundation repair options vary greatly depending on the geographic area and site conditions for the repair. Until the late 1970s, the main repair method simply used concrete. Below is a …

WHAT IS A JUDGEMENT LIEN?

What Is a Judgment Lien? A judgment lien is created when someone wins a lawsuit against you and records the judgment against your property. What is your total debt? A …

THE ROLE OF MEDIATION

Real Estate Disputes come in all shapes and sizes. For instance, imagine a dispute where the seller disclosed the basement leaked a half an inch and the realty is the …

FSBO STATISTICS

For Sale By Owner (FSBO) Statistics FSBOs accounted for 8% of home sales in 2016. The typical FSBO home sold for $190,000 compared to $249,000 for agent-assisted home sales. FSBO …

REAL ESTATE STATISTICS

Overview of the Real Estate Market 5.51 million existing homes were sold in 2017, according to data from the National Association of REALTORS®. 612,000 newly constructed homes were sold in …

REAL ESTATE AGENCY RELATIONSHIPS

Agency relationships with clients versus non-agency relationships with customers Relationship: Conventionally, the broker provides a conventional full-service, commission-based brokerage relationship under a signed listing agreement with a seller or a …

WHAT IS A BONA FIDE PURCHASER?

A bonafide purchaser(BFP) – referred to more completely as a bonafide purchaser for value without notice – is a term used predominantly in common law jurisdictions in the law of …

CONTRACT CONTINGENCIES

For those who aren’t familiar, a contingency is a statement (a “stipulation” it’s sometimes called) that is added to your contract that will allow you the right to back out …

CONDOMINIUM AND PUD OWNERSHIP

Condominium and PUD Ownership Builders, in an effort to combat the dual problem of an increasing population and a declining availability of prime land, are increasingly turning to common interest …

MOLD

MOLD BASICS Why is mold growing in my home? Molds are part of the natural environment. Outdoors, molds play a part in nature by breaking down dead organic matter such …

LAND PATENTS

A land patent is an exclusive land grant made by a sovereign entity with respect to a particular tract of land. To make such a grant “patent”, a sovereign (proprietary …

WHOLESALING

How To Use The Wholesale Real Estate Forms… The Wholesale Purchase Agreements are used to put a property under contract with the seller. Typically a wholesaler will assign the contract …

WHAT IS A SHORT SALE?

What is a ‘ShortSale?’ A Short Sale takes place when homes are sold for less than the bank payoff, and the home seller does not have the funds to make …

ESCALATION CLAUSE

During a buyer’s market, home buyer’s are agressive in their offers; making offers substantially below asking price with many seller concessions. As the market has shifted, buyer’s have had to …

WHAT IS THE MLS?

Realtor Tools: the MLS The modern day MLS (Multiple Listing Service) is the method that information on real estate for sale and sold properties are disseminated throughout the real estate …

LAND SURVEYS

Land Survey: Defining a Property Often times when showing properties, a client asks me, “Where is the property lines?” As a purveyor of properties, it would make sense that we …

SELLING A HOUSE IN KANSAS

Here’s an overview of the basics, including seller disclosure requirements. Most listing agents will want you to sign an exclusive right to sell listing, which obligates you to pay a …

FSBO SELLERS IN A DOWN MARKET

Tough times can motivate, frustrate agent-less sellers Four years ago, when Judy Cruz decided to try to sell her house on her own, it couldn’t have been easier. She struck …

THE POST INDUSTRIAL ERA IS OVER

The Post-Industrial Era Is Over ByLESTER C. THUROW The sun is about to set on the post-industrial era. No one should mourn its passing. In the post-industrial era, service jobs …

FSBO – INSPECTIONS

Real estate inspection. The three little words can cause palpitations in even the sturdiest souls. For potential homebuyers, a real estate inspection means the house they have recently fallen in …

FSBO – HERE ARE THE SECRETS

Selling your home means making dozens (if not hundreds) of decisions, starting with whether to work with a real estate agent. While the vast majority of homeowners hire a listing …

FSBO – THE RIGHT WAY

For those hoping to maximize profits on a home sale, posting a “for sale by owner” sign in the yard is an appealing option. Real estate brokers typically take 5 …

FSBO – AGENTS BEWARE

By Dennis Rodkin, Crain’s Chicago Business, Aug. 28, 2014 Condominiums have been selling quickly and at good prices in Lakeview this year, so Matt Sulkowski recently decided to see what …

FSBO SALES ARE DOWN? REALLY?

FSBO is “down,” but is it really? The 2016 Profile of Home Buyers and Sellers by the National Association of Realtors® (NAR) found that for sale by owner (FSBO) sales …

WHY CREATE A FOUNDATION?

OVERVIEW As charitable entities, private foundations have proven to be incredibly successful engines of positive change. In the 20th century, private foundations helped bring about everything from Sesame Street to …

WHAT IS A LIVING TRUST?

What is a ‘Living Trust’ A living trust is a type of trust created during a person’s lifetime. It’s designed to allow for the easy transfer of the trust creator …

WHAT IS PROBATE?

What is a ‘Probate’ A probate is a legal process in which a will is reviewed to determine whether it is valid and authentic. Probate also refers to the general …

CONSTRUCTIVE EVICTION

Simply stated, “constructive eviction” is a landlord’s act or failure to act that substantially interferes with or permanently deprives a tenant from using its leased premises. Constructive eviction relieves tenants …

MAKE RENT PAYMENTS ONLINE

PAY RENT ONLINE: LIST OF ONLINE RENT PAYMENT TOOLS Simplify your rent collection. Instead of waiting for those checks to come in the mail or going and collecting the rent, …

10 REASONS TO RENT AND NOT BUY

We all know the potential problems with renting — rent hikes, strict pet policies and less control over fixtures and paint color choices, to name a few. But beyond the …

AVAILABLE INSPECTIONS FOR HOME BUYERS

A general home inspection is a necessary and common step in the home-buying process. However, there are other potentially important inspections that could affect your home purchase. Usually suggested by …

TITLE AGENCY E&O INSURANCE

Being an abstractor, title agent, escrow/closing agent, notary public, or title examiner is a complex responsibility with customers expecting superior performance and error-free results. For example, a loan closer performed …

10 TIPS FOR RENTERS

Communication Considering that nearly 35% of Americans currently reside in approximately 40 million rental units throughout the country it is surprising that so few of us really understand how to …

THE PSYCHOLOGY OF REAL ESTATE

If you’ve ever house-hunted, you’ve probably got a sense that real estate purchases don’t represent consumers at their most rational. Did you like a house or apartment more, or less, …

AN AGENTS VIEW OF FSBO

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their homes on their own, known in the industry as a …

FSBO VS AGENT?

Have you seen the claim that “research shows” that real estate agents sell homes for 13% higher prices than people who sell their homes themselves? Does that seem right to …

MARRIAGE AND REAL ESTATE

Did you know that it matters whether or not a person is married when they are buying or selling a house? In Missouri, married people have marital rights to any …

6 TYPES OF HOME LOANS

If you’re shopping for a home, odds are you should be shopping for a home loan as well—and these days, it’s by no means a one-mortgage-fits-all model. Where you live, …

THE AMERICAN DREAM

In 2007, the U.S. economy entered a mortgage crisis that caused panic and financial turmoil around the world. The financial markets became especially volatile, and the effects lasted for several …

REMEDIES FOR BREACH OF CONTRACT

What are the Remedies for Breach of Contract? There are several remedies for breach of contract, such as award of damages, specific performance, rescission, andrestitution. In courts of limited jurisdiction, …

REAL ESTATE AND MARRIAGE

Real Estate and Marriage Married couples usually own most, if not all, of their valuable property together. If you want to leave everything to your spouse, as many people do, …

THE PROBATE PROCESS

The Probate Process The process unofficially “begins” when a person dies. The person who passed away, known as the decedent, may or may not have left a will (or may …

UTILITY EASEMENTS

UTILITY EASEMENTS Don’t be startled to discover that you must “share” part of your land. In certain types of real estate transactions, it’s not until the middle of the deal …

REAL ESTATE PLATS SURVEYS

Plats and Surveys. What do these words mean? If you’ve recently purchased or acquired a tract of land and plan on dividing it, adding to it, or otherwise developing it, …

WHAT IS WHOLESALING REAL ESTATE

Real estate wholesaling occurs when a party (the “wholeseller”) contracts with a home seller, markets the home to potential buyers, and then assigns the contract to one of them. The …

REAL ESTATE AND DIVORCE

When you’re divorcing, one of the questions curious friends and family eventually ask is, “So . . . are you going to keep the house?” While a simple answer would …

RENTING VS. BUYING?

At what cost, percentage wise, is it better to rent than buy, if you plan on staying at a given location forever? Buying a home is likely the most expensive …

GIFT TAXES

A gift occurs when a voluntary transfer for less than full consideration or compensation occurs from a donor to a donee. A valid gift must satisfy the following criteria, to …

FSBO TRENDS IN THE MARKETPLACE

FSBO TRENDS IN THE MARKETPLACE The traditional way of selling real estate continues to change exponentially because of 1) a general dislike of real estate agents, 2) the desire to …

Disclosures in Real Estate Transactions

Why Is “Full Disclosure” Important? In business transactions, especially real estate deals, the contract often contains a full disclosure requirement. Full disclosure means being truthful and forthcoming about anything the …

Common reasons why foundations fail

NONPOROUS BACKFILL. Soils loaded with clay or organic matter hold water like a sponge, increasing the risk of foundation cracks when the soil freezes and expands. RUSHING THE CURE. Concrete …

By Michele Lerner December 5, 2013 If you’ve toured a newly built model home recently, you may have noticed a few things missing: a formal living room or the once-popular …

Inheritance Law and Your Rights

Inheritance law governs the rights of a decedent’s survivors to inherit property. Depending on the type of inheritance law your state has, a surviving spouse may be able to claim …

Boundary Disputes

by: Andrew Sarazin Encountering a boundary dispute with an adjacent neighbor is a fairly common issue for landowners. There are many ways a boundary dispute can arise. Sometimes, deed descriptions …

Residential Housing Post WWII

Background The end of World War II marked the beginning of a housing boom throughout the United States. Many returning soldiers became first time home owners with the help of …

5 Most Common Seller Mistakes

Mistake #1 – Overpricing Everyone wants to realize as much as possible when they list their home for sale. Here in the Lakes Region of New Hampshire, just like the …

Residential Housing after WWII

After world war two soldiers came home and mass prduced housing in suburbs became popular.  In the Kansas City Area this is reflected in many subdivisions within the I-435 loop …

The Internet Economy

Since the day the first domain was registered in 1985, the Internet has not stopped growing. It has sailed through multiple recessions and one near-collapse and kept on increasing in …

Listing a property for sale?

7 Negotiating Points In Broker Listing Agreements Most sales of commercial real estate begin when the seller retains a broker. The seller’s choice of the broker can depend upon a …

Missouri Eviction Law

Any landlord who wishes to evict a residential tenant in Missouri must follow the steps of the Missouri eviction process. There are number of valid reasons for which a landlord …

Benefits of Owner Financing

Offering owner financing is a sensible way to sell property and extremely common all over the country (it has been estimated that approximately 10%-15% of property sold is now done …

Sellers Disclosure Statement

The Riskiest Business Property condition disclosure is a major legal risk for brokers today, according to findings from NAR’s new Legal Scan analysis. OCTOBER 2011 | BY G.M. FILISKO The …

The incredible shrinking work space

The “open office” environment has become increasingly popular as many corporate clients have made a concerted effort to reduce their real estate footprint while increasing collaboration among employees. The traditional …

Overview of real estate markets

The main participants in real estate markets are: Owner/user: These people are both owners and tenants. They purchase houses or commercial property as an investment and also to live in or …

Joint Tenancy

What is a Joint Tenancy? Joint tenancy is a form of ownership by two or more individuals together. It differs from other types of co-ownership in that the surviving joint …

Beware of garage doors

From Kansas City Star 7/22/2015 – You pass through it every day, often multiple times a day. Heading to work. Dropping the kids off. Running errands. The garage door has …

Boundry Disputes

Humans have the territorial instincts of jungle beasts. Boundary disputes costing thousands of pounds in legal and surveyors’ fees are often fought over a few centimetres. A spiral of charges …

REAL ESTATE TRENDS 2015

BY BETH BRAVERMAN, The Fiscal Times March 27, 2015 Along with green shoots and chirping birds, one sure sign of spring is popping up in neighborhoods across the country: For …

Seller Financing

Seller financing can be a useful tool in a tight credit market. It allows sellers to move a home faster and get a sizable return on the investment. And buyers …

Foreclosures Further Fade Away

DAILY REAL ESTATE NEWS | WEDNESDAY, JUNE 10, 2015 Foreclosure inventory plunged nearly 25 percent in April as the number of completed foreclosures — which reflect the total number of homes …

Real Estate Services Available

Real Estate Services: Construction Law Purchase Agreements Financing Refinancing Title Insurance Claims Title Examination Short Sales Foreclosure Sheriff’s Sale Trustee’s Sale Eminent Domain Condemnation Loan Documentation Commercial Transactions Boundary & …

Sellers market

May 28, 2015 Kent Hoover Sellers are in the driver’s seat in the housing market since there are lots of buyers looking at a limited number of houses. Sellers are …

All cash buyers……

One in three buyers of U.S. homes is paying cash, a record high number, according to data made available to McClatchy Newspapers. The trend is being driven by retiring baby …

Does bankruptcy ever make sense?

Filing bankruptcy can be a long-term solution for some people, depending on what the debtor is trying to accomplish.  Benefits provided by bankruptcy: Surrender – If a debtor wishes to …

Ten Landlord Legal Mistakes to Avoid

Asking Discriminating Questions A landlord should refrain from asking certain questions to a prospective tenant. This is one of the more serious legal mistakes that landlords make. Because the federal …

3 keys to success for investors

Investors should consider three keys to success: 1. Pay off the mortgages. “Assuming you purchase property that is profitable from the start, not having a mortgage every month can significantly …

Sellers Market

All numbers appear to be indicate that as of today 4/9/2015 it is a seller market.  If you have a portfolio of properties to sell this would be a great …

Mortgage rates tumble

Mortgage rates tumbled this week.  The 30 loan hit its lowest since June 2013 as Treasury bond yields marked new lows amid concern over global economic weakness.

Foreclosure activity in Kansas and Missouri dropped sharply in July 2014 compared to a year ago. 507 properties in Kansas were facing default notices, scheduled auction and bank repossessions last month. That was down 30.2 % from July 2013. However, compared to June 2013 foreclosure actions were up 24% statewide. In Missouri 736 properties were scheduled for foreclosure down 48% on an annual basis from July 2013 and down 22% from June 2013. Nationwide 109,434 properties were in some stage of the foreclosure process in July 2014, and 2% increase from July 2014. Depspite the rise, foreclosure activity was 16 % below a year ago. It was the 46th consecutive month in which activity declined on an annual basis.

According to today’s KC Star Average long-term mortgage rates rose slightly this week but remained near their lows for the year. Mortgage company Freddie Mac said the nationwide average for a 30 year loan increase to 4.14% from 4.12 last week. The average for the 15 year mortgage rose to 3.27 from 3.23 last week. Mortgage rates are below levels of a year ago. They have fallen in recent weeks after climbing last summer when the Federal Reserve began talking about about reducing the monthly bond purchases it was making to keep long-term borrowing rates low.

According to KC Star 8/6/2014 U.S. home prices rose in June 2014 by the smallest year over year amount in 20 months, slowed by modest sales and more properties coming on the market. Data provider Core-Logic said prices rose 7.5% in June compared with 12 months earlier. That’s a solid gain but less than 8.3% year over year increase in May and a recent year to year peak of 11.9% in February. Month to month, June prices rose just 1.4% in May. But CoreLogic’s monthly figures are not adjusted for seasonal patterns, such as warmer spring weather. The slowing price gains should make buying a house more affordable. Prices had risen sharply last year, along with mortgage rates.

Its a sellers market

The Kansas City Star reported this week that there was a 3.5 month supply of homes for sale in Kansas City, Missouri.  This makes the current market a very strong …