Purchase Agreement Essent…

Purchase Agreement Essentials

Because it sets forth the terms of sale and the relative rights and obligations of the parties, the purchase agreement remains the single most important document in any real estate transaction – residential or commercial. While not all purchase agr… Read More
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"Let the Seller Beware"

There’s an old proverb, “Let the buyer beware.” A recent opinion issued by the Michigan Court of Appeals (Galvan v Poon, Mich App No. 76047, August 19, 2021), however, has turned this time-honored legal principle a bit on its head. In Michigan,… Read More
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Land Contracts Simplified

Land Contracts Simplified

A typical real estate transaction involves a seller, a buyer, and buyer’s lender. At closing, buyer’s lender advances the funds to pay seller in full, seller conveys ownership to buyer by deed, and buyer gives its lender a security interest in th… Read More
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Real Property Pitfalls

I’m constantly amazed at the number of ways that people can mess up real estate transactions. Just this past week, two particularly striking examples crossed my desk. The first was an easement agreement prepared by one attorney and reviewed by a se… Read More
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Spot the Difference

Real estate transactions are a big part of what we do at Wright Beamer. Lately I’ve noticed an uptick in sales involving commercial properties using residential purchase agreements. Here are a few reasons why it is never a good idea to use a one-si… Read More
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Split Closings: A Rant

Disclaimer: If you own or are employed by a title agency, please delete this post and pretend like it never existed. I mean no disrespect. Title companies are wonderful (truly). Does anyone remember the good old days when the buyer had a real estate… Read More
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Title Insurers Are Not High on Marijuana

Because it protects buyers, sellers and lenders alike, title insurance is an integral part of every real estate transaction. While we at Wright Beamer regularly deal in real estate law and are well-versed in the documentation involved, one title insu… Read More
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Uncle Sam Wants You!

(To Report Cash Transactions) I once facilitated a closing in which my clients sold a very modest home to a young couple for $10,000. What made this transaction interesting was that the couple paid for the house with cash, all in small bills. I still… Read More
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You Lied to Me!

Home buyers don’t like when they discover problems with the home they bought, and who can blame them? But, not every problem is the responsibility of the seller. I’ve had two clients recently contacted by buyers looking for money based on alleged… Read More
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The Purchase of Stigmatized Homes: Let the Buyer Beware!

A client recently asked whether he must disclose to the buyer of his home the fact that the next-door neighbor is a registered sex offender. I was able to tell my client that Michigan does not require that he disclose his neighbor’s status. Rather,… Read More
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