Law offices of Ron J. Zollor - A Limited Liability Company

 

RESIDENTIAL REAL ESTATE:

A significant part of our practice involves the representation of buyers and sellers in residential real estate matters. We make every effort to conclude the “Attorney Review” period as soon as possible ensuring that each transaction closes promptly.

All realtor prepared real estate contracts must contain a three-day attorney review period. This provision allows the Buyer and Seller to consult an attorney before the contract is deemed binding. The contract will be considered binding at the expiration of this three-day period unless one of the parties sends a letter of disapproval in the appropriate form.

We are experienced in dealing with all facets of the real estate transaction, including the home inspection, mortgage process and title closing. We have also represented clients in negotiations with their lenders engaging in "short sales". A "short sale" occurs when a property is sold for less than the amount outstanding on the mortgage; in this case, the lender accepts a discounted payoff amount in order to release the lien, which is secured by the subject property. The benefit to the sellers is that they are able to avoid a foreclosure, which would negatively affect their credit for the long term.

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