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Basics For Buying and Selling a Home in Arizona

Selling a Home by Owner – FSBO:

This is when you try to sell a home without a realtor, “for sale by owner,” or FSBO,
pronounced fizzbo. You may save the real estate commission but you will have to analyze the
market, decide on a price, advertise and show the house, draft an agreement and negotiate
with buyers, all on your own.
Buying a FSBO is different than buying with a real estate broker involved. You will personally
have to research a fair value/price, negotiate with the seller and review or draft an offer to
purchase/sell.
It is more critical to have the help of an attorney in the FSBO buying and/or selling process. The attorney can suggest appropriate contingencies, draft and review documents and guide you through each step of the transaction.

 

Buying a Home – Make an Offer:

When you have found the home you want, it is time to write up a formal purchase offer and
sign a real estate purchase and sale contract.
You and the seller must sign a legally binding contract. However, the contract can include
contingencies such as a property inspection, appraisal, loan approval and title report review
and approval. Contingencies enable a party to opt out of the transaction if a contingency is not
satisfied.
A seller may respond to a buyer’s offer by accepting it, rejecting it, or making a counteroffer
presenting different terms for the sale.

Don’t forget Title Insurance:

You must make sure the seller has good title to the property. Basic title insurance protects you against defects of record in the seller’s title. The title insurance company researches public records and issues a title insurance commitment stating information about the title. For
example, who owns the property? Are there any easements or restrictions on the use of the
property? Are there any liens that should be paid off at or before the closing? All of these
matters may seriously affect the value and your use of the property. Some of these matters
may require an attorney’s expertise to review, resolve and/or make it clear to you the title that is being conveyed to you.
Disclosures:
Sellers are legally required to provide buyers with certain disclosures. Sellers must disclose any known issues that might affect the property’s value or habitability.

The Closing:

The closing should happen with an escrow officer at a title company. Sometimes the buyer and seller don’t meet at the closing. Each can go in to sign their closing documents separately or they sign electronically. Some signatures will have to be notarized so bring a photo I.D.
Prior to the closing date, get the closing statement and a copy of the documents to review. It is wise to have an attorney do this and answer any questions you may have. Attorneys can see potential problems and offer a solution before the closing date. The closing statement details closing fund amounts and who pays what. Funds can be wired or paid with a cashier’s check on the closing date.

After the closing, the deed is recorded with the County Recorder for the county in which the
property is located. Once the deed id recorded in the buyer’s name, it is delivered to the buyer.
The buyer should also receive the title insurance policy contemplated by the title insurance
commitment. An attorney should review these documents for legal accuracy and compliance.

Find out how Sylvester Law can provide you with affordable legal services.

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Protect Your Intellectual Property

Protecting Your Intellectual Property

If you own a business, you have intellectual property and while protecting it may seem like a daunting task, it does not have to be. With the right information and guidance, you can prohibit others from using your ideas, creations and so forth. The right protection is so important, because without it, you could experience loss of revenue and possibly clients. Your ideas, inventions, logo and even your business’ name can all be legally protected if you take the right steps to make it happen.

intellectual property

Knowing Your Rights

As a business owner, you have rights available to you to protect your intellectual property, and knowing which right, or rights, you need is essential. A trademark is used to protect your business’ name, symbol or logo, and keeps them from being used by anyone else. When protecting your original works like books, videos or songs, a copyright is used to prevent others from distributing, selling or making money off your work. Patents are specifically designed to protect your unique inventions, ensuring others will not be able to make, sell or use them.

Seeking Advice

Once you understand your rights, it is important to speak to an attorney who can evaluate your business and intellectual properties. An attorney will be able to use that evaluation to advise you on what protection you need and how to avoid making any mistakes. As always, with business, talking to an attorney who is experienced in your specific industry, is an advantage.

Plan Ahead & Act Quickly

If you are starting a new business, protecting your intellectual property needs to be one of your first priorities. Protecting your intellectual property is so important and can be crucial when getting your new business off the ground. If, for some reason, you already have a business up and running, but do not have your intellectual property protected, it is not too late. Act quickly, because even if it is just your business’ name and logo, it is yours and you deserve to have that protected.

You worked hard to start your business and you continue to do so as your serve your clients. Make sure all your hard work, and the work of your employees, is not in vain by protecting your invaluable creations, ideas and other intellectual properties. Do not give someone else the chance to benefit from your creativity and expertise, place a legal lock on your intellectual properties, just as you would your storefront or shop.

Find out how Sylvester Law can provide you with affordable business legal services.

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Estate Planning: Don’t Take It On Alone

These days, one can find anything and everything online, including do-it-yourself estate planning forms. These forms may be appealing, especially if you want to save time and money by not hiring an estate planning attorney. Unfortunately, when it comes to estate planning, you get what you pay for and in many cases, saving time and money upfront will not pay off in the long run.

ESTATE PLANNING

One Size Does Not Fit All

When planning your estate, there are numerous factors to consider, and assuming a DIY form off the internet is going to fit every family’s needs can lead to irreversible or costly mistakes. Everyone’s situation, financially and otherwise, is different, so it is important to have an attorney help you make sure your beneficiaries’ specific needs are going to be met. Without the guidance of an estate planning attorney, including step-children and or business assets in your plan can become confusing and you may even miss important asset protection benefits simply because you were unaware of them.

Ever-changing Laws

The legal system is an ever-evolving world where laws can change quite often, and unless it is your job to know when these laws change and how, you may not even be aware that they have. Estate planning is designed to give you peace of mind that your beneficiaries and assets will be well taken care of. There are countless forms available on the internet, but it is quite difficult to know whether or not they are up to date with your state’s current laws. Hiring an estate planning attorney will give you the confidence to know that your document will be valid when it really counts.

Estate Planning Laws for Each State

Not only are laws constantly changing, but laws regarding trusts, probate, and taxes are very different from state to state. The laws can differ so greatly that an online form simply cannot be counted on to cover the specific laws for each and every state. An attorney in your state, who is experienced in estate planning, will be able to make sure your documents meet and follow the requirements and laws dictated by your state.

Some things are best left to the professionals, and estate planning one of them. Hiring an affordable attorney could mean the difference between having your beneficiaries and assets taken care of the way you intended and leaving them with inadequate benefits and confusion.

Find out how Sylvester Law can provide you with affordable estate planning services.

CLICK HERE