Last Saturday’s Wall Street Journal online edition included an article, “Six Mistakes Housing Investors Make.” Columnist Karen Blumenthal quite correctly describes six common mistakes people make when they consider investing in residential real estate. In today’s real estate market, though, another mistake investors make is to accept real estate escrow, closing and settlement services provided by an attorney or title company associated with the financial institution selling the property at or after a foreclosure.
We’ve blogged about the importance of having an experienced real estate attorney who understands state foreclosure law and practice represent purchasers of foreclosed property in our post Beware of the Dangers of Purchasing Foreclosure Real Estate. Owner’s title insurance is particularly important for purchasers of foreclosed properties, too, as we said in Owners Title Insurance Remains Important and in Title Insurance Vital to Protecting Homebuyers. Hiring an independent settlement attorney or agent and purchasing owner’s title insurance can help protect a rental property purchaser’s investment. We can’t help with those other six mistakes, though!
MartinWren, P.C. attorney Lewis A. Martin, III practices real property law and estate administration law in the firm’s Charlottesville office. For more information regarding property foreclosures and other real estate issues, please call Lewis at 434-817-3100 or email him at firstname.lastname@example.org. With offices in Charlottesville and Harrisonburg, Virginia, MartinWren, P.C. is a dynamic law firm offering legal services to individuals and small and large businesses across the Commonwealth. MartinWren, P.C. represents clients in diverse practice areas: Business, Corporate & Tax Law; Estate Planning & Administration; Personal Injury; Intellectual Property and Technology Law; Healthcare Law; Commercial & Residential Real Estate; Civil and Commercial Litigation; Startups and Emerging Companies; Family Law & Adoption; and Nonprofit Organization Law. To learn more about MartinWren, please visit www.martinwrenlaw.com.