Real Estate Advisor Law Blog

Real Estate Advisor Law Blog

Tag Archives: foreclosure

Foreclosed from Foreclosure?

Posted in Finance Issues, Title Insurance
  Purchasing foreclosed real estate has never been easy or risk-free. In Ohio, all purchases are “AS-IS” and purchasers generally do not have an opportunity to inspect the property. A 10% cash deposit is due upon bidding and payment in full is due within thirty days with the threat of contempt of court if the purchase price… Continue Reading

Follow the (Note’s) Instructions

Posted in Finance Issues, Litigation Issues
A helpful reminder to lenders – if you’re going to foreclose, read the note and mortgage and do what they say. In a recent Ohio Court of Appeals case, the bank failed to follow these instructions and was rewarded by having its foreclosure complaint dismissed.  The borrower missed a payment on her mortgage and the bank… Continue Reading