Buying a Short Sale Property or Foreclosed Property

Category: On Demand

Member Price: $140

Non-Member Price: $175

Product Code: ON075722

Areas of Law: Real Property, Trust, & Estate

CLE Credits
NJ CLE:NJ CLE information: This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 2.4 hours of total CLE credit (Full Credits Available: NJ General: 2.4).
NY CLE (t&nt):NY Professional Practice Transitional: 2.0
PA CLE:PA Substantive Credit: 2.0
New: No PACLE fee is required for this program. To earn PA CLE credits, a valid PA Bar ID number must be entered into the CLE form provided after attending the program.
Faculty

Keynote

Moderator

Nicole Timpanaro
Fortune Title Agency, Roseland

Presenters

Manny Alvelo, Esq.
Lomurro Law, Freehold
Chandra Betner-Gray, Esq.
Betner-Gray Law Office, MOUNT HOLLY

As the world of residential real estate law continues to evolve, attorneys increasingly find themselves dealing with transactions involving short sales and foreclosed property. If your next case heads into one of these ever-growing areas, are you prepared?

A New Jersey real estate attorney, the CEO of a local title company and the Counsel/Senior Title officer of a title company have joined to together to guide you through the many intricacies and considerations that are raised by these special real estate purchase/sale situations.

TOPICS INCLUDE:

  • Short Sales
    - Definition of a short sale
    - Mortgage concerns in a short sale—the ins and outs of financing
    - How to negotiate with a lender to accept less mone
    - Caveats concerning residential debt negotiation
    - Inspection and property damage issues
    - Title concerns
    - The short sale process

    The offer?the contract?attorney review?preparation of the lender’s short sale package?lender review?closing

  • Bank-owned Foreclosed property/Real Estate Owned (REOs)
    - Weighing the pros and cons of purchasing a bank-owned property
    - Inspection and property damage issues
    - Appraising the home's value
    - Obtaining financing for bank owned property
    - Title concerns
    - Negotiating with banks

  • …and more

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