Purchasing Real Estate with Cryptocurrency

 

Is cryptocurrency the moolah of the future? Is it even real?

It’s becoming increasingly apparent that crypto is here to stay.

But can something so seemingly abstract be used to buy something as concrete and tangible as real estate? Technically… yes. If the agreement is made between buyer and seller on this consideration, it is feasible.

However, of course there are hurdles because of the taboo surrounding it. Mainly, obtaining loans and title insurance is nearly impossible with a crypto purchase, unless it gets transferred into cash first.

Right now there are lots of restrictions, but it may not stay that way forever. To find out a bit more on cryptocurrency as an asset, check out the video.

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

What is Owner’s Title Insurance?

This quick and comprehensive video on title insurance provides a description of the types of title insurance out there, the obstacles coverage protects homeowners from, and answers to some common assumptions and questions we get about this topic.

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Title Fraud & Quitclaim Deeds

There tends to be a lot of confusion over this term, but here’s the 411 on the quitclaim deed. Put simply, someone is quitting their claim on a property by relinquishing it over to someone else, including interest, but without representation or warrantees.

However, there are a few ways in which this can turn into a fraudulent situation. Watch this week’s video to find out how someone might be able to pull this off and how you can protect yourself and your property from falling victim this crime with the help of title insurance.

You can always contact Stiles Law by calling (781) 319-1900.

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Can I Hold Title?

Often when people mention “title,” they’re referring to the chain of title—or the record of owners on the deed of a particular property dating back to the dawn of its time.

Sometimes there might be a situation in which multiple people are buying one property together, but not all of them are borrowers. So can you have an owner who is not a borrower along with an owner who is a borrower listed on the same deed?

Watch this week’s video to find out!

You can always contact Stiles Law by calling (781) 319-1900.

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

How to Buy Your Dream Home in 2021

 

With the current status of the real estate market, buying a home might feel like a losing game. But it’s not impossible to succeed. How can you get your offer accepted?

Teamwork really does make the dream work. You need advocates in the form of a buyer’s agent, a loan officer and a closing attorney. These are professionals who can support and advise you through the process while making your offer stronger.

Consider the seller’s needs, appraisal gap coverage and an escalation clause to boost your appeal as well.

You can always add a personal touch to try and stand out. Your best bet is to be strategic and give it everything you’ve got. If it doesn’t work out, maybe it just wasn’t meant to be, but at least you’ll know you put your best foot forward.

We can help! Start at calendly.com/mstiles and you can get connected with the right attorney for you.

You can always contact Stiles Law by calling (781) 319-1900.

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

ALTA Settlement Statement Overview (MA)

 

If you’re buying or selling residential real estate in MA, you’re likely going to be seeing an American Land Title Association (or ALTA) settlement statement. Its purpose is to explain all of the money transferring hands in your transaction in the form of direct payments, loans, and adjustments. Everything is separated between the borrower/buyer and seller in different sections with labels on each column and row.

Pay special attention to loan fees and impound charges (aka escrows) which exist to approve the buyer and protect the lender, respectively.

Don’t forget there are charges associated with selling! Check out our more in-depth video on this topic, linked in the video above.

If you have any further questions about ALTA settlement statements or other documents, contact Stiles Law by calling (781) 319-1900

Copyright © 2021 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.