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Charlottesville Real Estate Attorney

VAR Contract & HOA Restrictions │ Attorney William D. Tucker, III

Tucker’s Tips  Tip 17-2016: VAR Contract and HOA Restrictions Tucker’s Tip 16-2016 discussed that in some situations where there is “no HOA,” there still may be a set of restrictions and covenants that limit the Purchaser’s use of the property. If a recorded set of CCRs or other type of restrictions governs property not in Read More

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No HOA – Double Check │ Attorney William D. Tucker, III

Tip 16-2016: NO HOA – Double Check! The VAR Contract, in Paragraph 23, “The Property Owners Association Disclosure”, indicates whether or not the property being purchased is within a Home Owners Association (HOA). However, just because the “Is Not Located” box is checked does not necessarily mean the property is free from a set of Read More

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The No Financing Affidavit │ Attorney William D. Tucker, III

Tucker’s Tips The No Financing Affidavit Assuming the Seller has no outstanding loans on the Property being sold (Deeds of Trust, HELOCS, Equity Lines), the Purchaser’s title company, while doing the title search, will find there is no mortgage on the property. The title company will accordingly request that the Seller sign a “No Financing Read More

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William D. Tucker, III │ Last Minute Changes on the CD

Tucker’s Tips  Tip 13-2016:  TRID – Last Minute Changes on the CD Here is another example of why it’s important to stay flexible during the closing process now dictated by TRID regulations. Although lenders theoretically have to tell the Purchaser how much money is needed for the closing well in advance of the actual settlement, Read More

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William D. Tucker, III │Choose Your Own Settlement Agent

Tip 12-2016:  Choose Your Own Settlement Agent Never choose the settlement agent selected by the REO bank as the seller. That settlement agent’s primary relationship is with the REO bank. Tucker’s Tips encounters time and again how using the REO selling bank’s closing agent causes needless issues and delays for a settlement.  For example, we Read More

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William D. Tucker, III │Charlottesville Clerk’s Office Closed

Tucker’s Tips  Tip 11-2016:  Charlottesville Clerk’s Office Closed Thomas Jefferson’s birthday this year is on Wednesday, April 13th, 2016, and the Charlottesville City Clerk’s Office is closed that day. However, not ALL the local Clerk’s Offices are closed. The Albemarle, Fluvanna, Louisa and Greene County Clerk’s Offices will be open and available for recording on Read More

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William D. Tucker, III │Who is on Title to the Property?

Make sure the settlement attorney knows of everyone who will be on the deed to the property, especially if they are not going to be on the loan. Individuals who are not going to be on the loan are sometimes not listed in the contract. (In short sale and REO transactions, the deed into the Read More

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William D. Tucker, III │The TRID Experience

Tucker’s Tips   Tip 8-2016:  The TRID Experience – With the new TRID laws in place for over four months, Tucker’s Tips has made the following observations about how TRID is affecting settlements:  1.  Closings are taking about a week longer than before TRID. (This experience is apparently not just in our area. They are taking Read More

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William D. Tucker, III │Sharing Information Can Make TRID Easier

Tucker’s Tips   Tip 7-2016:  Sharing Information Can Make TRID Easier –  Navigating a closing with the new TRID laws can prove difficult, especially when completing the CD which requires more information than the HUD and/or GFE. Tucker’s Tips has found that including certain information in the Contract can help make the closing process under TRID Read More

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William D. Tucker, III │Real Estate Closings & Winter Weather

Inclement weather causes delays in more than one way. Bad weather can cause Clerk’s Offices and other government agencies to close and as a result general delays in settlements.  But now it can also cause delays regarding the 3-day requirements for CDs to be delivered to the purchaser.  Due to weather, settlement agents and attorneys Read More

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