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Real Estate

Law does not operate in a vacuum, one area of law often relates to another.  Business, estate planning, divorce, and death often involve real estate transactions.  Attorney Stephanie Ko assists clients when changing titles of homes, buying and selling real properties.  Real estate laws are complex and so are the documents involved.  Furthermore, these transactions involve large sums of funds and important legal ramifications.  Clients must understand the terms of the Purchase and Sale Agreement before signing

In Purchase and Sale Agreements, the important issues are:

  • What is the sales price and what are the payment terms
  • I signed the agreement already, can I still make changes?
  • What is the purpose of earnest money
  • What are Sellers’ obligations once they received the earnest money
  • Under what circumstances can the earnest money be refunded
  • Under what circumstances will the earnest money be forfeited
  • What is a financial contingency and when can Seller void the purchase and sale agreement
  • How to read the preliminary title report
  • What are the meaning of exclusions and exceptions in title reports
  • How to hold title to the property, should it be under the name of a company or in the name of individuals
  • What can be done to protect your assets and the real property
  • How to limit landlord’s risks when owning rental properties

 In Seller Finance Transactions the important issues are:

  • What’s is a promissory note
  • What is a deed of trust
  • What is note service and how to make the best use of this service
  • What is note holder’s right if borrower is behind in paying property taxes
  • What is note holder’s right if borrower is behind in payment
  • Who gets pay from the insurance company if the property was destroyed in a fire before the loan is paid in full
  • What happens if the note holder passes away before the entire loan amount is paid in full

Attorney Stephanie Ko assists clients from the review of the initial purchase and sale agreement to the review of the final closing documents.  Every detail in these documents are significant.  With the amount of money involved in such transactions, a self-help-approach is very risky.  Contact the firm today to set up an appointment so attorney Stephanie Ko can address your concerns and answer your questions.  Attorney Stephanie Ko can read, write and speak Chinese, Mandarin and Cantonese, so there will be no language and cultural barriers.