Foreclosed / Bank Owned / REO Closings: $850

Foreclosed / Bank Owned / REO Closings: $850

Are you buying a Foreclosed Home (commonly referred to as a Bank Owned or REO home)? The attorney you retain should know that the bank, usually, will NOT make any repairs nor remove any violations.  As such, foreclosed homes are almost always sold “as is” with the bank refusing to do anything.  Our experienced REO closing lawyers are well versed with these deals and can guide you through the process of purchasing a bank owned home.

We charge a flat fee of $850from contract to closing for all foreclosed home transactions (up to and including 3 families); the fee includes the services listed below.

Please note that we also represent sellers of foreclosed homes (including banks and investors) 

Scroll down for a list of services offered to sellers.

FOR BUYERS OF FORECLOSED HOMES:

  • Review, negotiation and explanation of the contract of sale,
  • For buyers that will be getting financing, review of the mortgage commitment and correspondence with the lending institution,
  • Resolving any pre-closing problems that may arise (including issues of repair, termites, etc.),
  • Correspondence with the seller’s attorney, title company, and lending institution,
  • Preparation for closing, including reviewing the title search to ensure there are no liens and judgments against the premises,
  • If this is a house, review of the certificate of occupancy and all permits and documentation pertaining to the house (to ensure that there are no violations and the house is legal and has all proper permits. PLEASE BE AWARE THAT THE BANK WILL USUALLY REFUSE TO CLEAR ANY VIOLATIONS),
  • Representation at closing.

FOR SELLERS OF FORECLOSED HOMES:

  • Preparation, negotiation and explanation of the real estate contract,
  • Correspondence with the buyer’s lender to ensure the buyer is complying with the bank requirements in order to facilitate the mortgage process,
  • Correspondence with the buyer’s attorney and title company,
  • Resolving any pre-closing issues (including issues of repair, termites, etc.),
  • Preparation for closing, including obtaining payoffs for any liens and judgments against the seller and/or the premises,
  • Representation at closing.

Our bank owned home closing lawyers look forward to helping you. Call us today.