When Does a Letter of Intent Constitute a Contract?
A real estate buyer and seller write up their own Letter of Intent (“LOI”) to engage in a real estate land lease transaction. They spend some time on the document outlining some of the chief terms of the prospective deal that they will put in a contract in the near...
How Equitable Mortgage Laws Can Unwind Your Transaction
Since about 2014, real estate investing and “flipping” has been a hot and profitable industry. While there are great deals out there, Michigan law will not tolerate abusive investment tactics at the expense of Michigan homeowners. Below is Michigan case...
Could a Mortgage Modification Help Your Financial Situation?
MORTGAGE MODIFICATION Are you behind on mortgage payments? Is your lender threatening foreclosure actions against you? Waiting on your lender to reach out to you with help is not going to improve your financial situation. Instead of facing a mortgage foreclosure,...
Buyer’s Remorse: Handling Objections on a Real Estate Purchase Agreement
This question comes from Megan H., a real estate investor out of Texas who owns property here in metropolitan Detroit. She writes in to say that she is selling her property in Waterford, Michigan. Megan and the buyer are under a purchase agreement and are scheduled to...