May a Lender Perform an Interior Inspection of the Property if They Have Concerns About Property Condition?
May a lender perform an interior inspection of the property if they have concerns about the property condition? The answer to that is no, they can not. Unless the loan is in default, the mortgages don’t allow them to do an interior inspection due to the condition. They only have a right to, they can do a drive by, there is an exception. However, in the residential mortgages, in the event, the property is vacant. They have a right to conserve the property and scene and whenever there’s a foreclosure and the property is vacant, they send contractors out that, hang a notice on the door, that where they’ve gone and secured the property and they’ll enter the interior of the house. There’s been certain abuses of that, when it’s in foreclosure, it’s a tough situation. If they have abused that privilege, if you’re occupying the home or occupying the property, then they’re not going to be able to enter the property while you’re there. So they don’t have a right to do the interior inspection on residential property. If it’s a commercial loan there, you might have look at the terms of the mortgage, but generally if the mortgage is current, they don’t have a right to come in and inspect the interior of the unit. So, if you have any questions about this, give me a call at (727) 847-2288.
I am having trouble with my homeowners insurance they denied a claim. What can I do? That number one, we would need to see why they denied the claim. They may have denied it because you did not have coverage. But the answer to that is, is you need to contact an attorney who handles claims against insurance company for property damage though. There’s not as many of these lawyers available to sue insurance company over property damage, as they are for personal injury. Most of the attorneys you see that advertise on billboards are, only handled claims against insurance companies for personal injury or wrongful death. So you would need to find an attorney who would sue an insurance company for property damage, and they would need to make an appointment with them and have them review your title, policy, and or title policy, your insurance policy, to determine whether or not your loss is covered. If it is, and they’ve denied the claim they will undertake to represent you, against your insurance company. I do not handle property insurance claims, but if you call me, I will be glad to give you the name of an attorney in the Tampa Bay area. Who does handle property claims against insurance companies. My phone number (727) 847-2288.
What is the Estoppel letter? An estoppel letter is a statement by someone who is owed money. They set forth how much money is owed bias, particular date. You can then rely upon that as a closing agent or someone whose paying them that amount. That is how much is owed. And if you pay them that amount, then that will satisfy a mortgage on outstanding lien. You get the word to stop on means that they are stopped from claiming any additional money. As a result of giving you this estoppel statement. This is customarily used to obtain the payoffs and determine the amount, if any, that’s owed to homeowners association pay off existing mortgages. We get the estoppel statement from the lender to say how much money we need to send to them. If there is judgements as to how much needs to be sent in order to have the judgment satisfied as well as any other liens that need to be paid. Estoppel statements are also used whenever you have a landlord tenant situation and you have a statement as have the tenant set forth, how much of a deposit they have, and that they don’t have any claims against the landlord. There’s other instance Estoppels are used for that gives you a flavor or estoppel statements are used and when they’re used. if you have any questions, give me a call at (727) 847-2288.
How should I hold title? I’m assuming the question relates to how you should hold title to real estate. And the answer is dependent on what you’re going to be using the property for after you purchase it, if it’s going to be your home, I suggest that you hold title in your name as husband and wife. If you are married, if you’re not married and you have a significant other, then you need to take title as joint tenants with right of survivorship. If you’re single, then take title in your individual name. The reason for this, is do you have any number protections under our Florida constitution? Sensitive will be your homestead property. It’s exempt from the claims of creditors course not the mortgage cause that’s a secured creditor, but anyone that would just happen to sue you if it’s investment property, well then who are the investors and how should the investment property be titled. It may be in a LLC, some other name, if it is residential property of four families or less than, and you may want to take title just in your individual name in order to obey yourself or take advantage of the 30 year mortgages that are available, which are not available if you take title and an LLC. So a lot depends on the purpose that the property is being acquired for and its use after you acquire it. If you have any questions, give me a call at (727) 847-2288.
What identification do I need to bring to my real estate closing? If you’re the seller of the property, the notary Republic is going to ask for a driver’s license or a government issued photo identification, that’s usually a driver’s license. You can use a passport or a Florida ID card as far as that’s concerned, or any other government issued a identification card that has your picture on it.Sometimes a lender will ask for a secondary or two forms of identification. The second form I can take, can be a voter registration card, a social security card. I’ve used credit cards, with your name, or you even utility bills, which show your address and your name. So, that is what you need to bring. If you’re the buyer and you don’t need to have your signature notarized, you may not need to bring any identification. As far as the closing concern, primary reason for bringing the identification is if you have to have your signature notarized and that’s whenever, your need to have the identification, in order to be able to execute the documents. If you have any questions about this, give me a call at (727) 847-2288.