Charlottesville Real Estate Lawyers
Well known Virginia Real Estate attorney William D. Tucker, III with offices located in Charlottesville and Lake Monticello
What we do for our real estate clients
Real estate is an important investment. Whether you are purchasing or selling residential real estate through a real estate agent or on your own, Tucker Griffin Barnes will enact proper safeguards to protect your investment. From simple residential to complex commercial real estate transactions, our attorneys and paralegals handle every aspect of the closing, including preparing and reviewing contracts, reviewing title searches, and negotiating inspection obligations. We also handle the following:
- 1031 exchanges
- Construction draws
- Deed Drafting
- Family land issues
- For-Sale-By-Owner contracts
- Home owners association
- Loan modifications
- Partition suits
- REO purchases
- Reverse mortgages
- Right-of-way disputes
- Short sales
- Title problems
In addition to the above, we know that dealing with the government or neighbors on property rights issues can be daunting.
At Tucker Griffin Barnes, we take on the burden so you can focus on other concerns.
Our Virginia real estate and land use attorneys understand property owners’ rights. We keep clients informed of their rights and can help to assert them in order to protect our clients’ interests.
Our property rights experience is wide ranging:
- Eminent domain
- Direct condemnation
- Inverse condemnation
- Property valuation
- Right of way
- Boundary disputes
- Breach of contract
- Partition (land) suits
- Government approval
- Family land disputes
- Road maintenance agreements
What some of our clients have said
- “I cannot thank you enough for all your work. I wish everyone had your work ethic and attention to detail and level of customer service. This would never have gone through had you not been on the case. We thank you from the bottom of our heats.” – Kenneth L.
- “With the given situation it has been a blessing to work with such a professional and dedicated group of people. We truly thank you all for all that you have done to keep this as painless as possible.” – Julia W.
- “Mr. Tucker, I want you to know how much I appreciated the help I received from Sarah Wayland. She went above and beyond to help our family.” – Karen C..
Frequently asked questions about Virginia real estate
Why should I use an attorney?
- Attorneys will protect your legal rights—more important now than ever in purchases and sales
- Attorneys provide help when needed most, especially if unexpected legal problems develop
What are some real estate terms I may encounter?
- Deed – A written document by which the ownership of land is transferred from one person to another.
- Deed of Trust – A document that secures the loan and gives a lender the right to foreclose on a piece of property if the borrower defaults on the loan.
- Joint Tenancy – Ownership by two or more people that gives equal shares of a piece of property. Rights pass to the surviving owner or owners.
- Tenancy by the Entirety – Ownership by a husband and wife where they hold title to the whole property with right of survivorship.
- Tenants in Common – An estate or interest in land held by two or more persons, each having equal rights of possession and enjoyment, but without any right of succession by survivorship between the owners.
- Title Search – Review all recorded transactions in the public record to determine whether any title defects exist that could interfere with the clear transfer of ownership of the property.
- Title Insurance – Insurance against loss or damage resulting from defects or failure of title to a particular parcel of real property.
What is a partition (land) suit?
A suit for partition is brought when two or more owners of an interest in real property want to force a sale of all or some portion of it and divide the proceeds. It usually occurs when a disagreement has arisen between co-owners and one is refusing to sell.
What is an easement?
An easement allows another person the right to use your land for a specific purpose. The most common easements are those granted to public utility or telephone companies to run lines on or under your private property. They also are often granted to neighboring houses to use a common driveway.
What could delay my closing?
Due to recent updates in wire transfer guidelines, several major banks will not allow a client to wire funds out of their account to their Settlement Attorney unless the client goes to a local branch in person.
A number of clients have bank accounts in institutions that are out of state, like US Bank or USAA. Subsequently, complications can arise if those clients attempt to have funds wired the day before or the day of closing. A closing could ultimately be delayed due to those unforeseeable obstacles.
Accordingly, the best practice to avoid this predicament is to have clients contact their banks early in the process. The clients can determine – well in advance – what is permissible in regards to wiring funds from their account, and a possible closing delay can be avoided!
What are the waiting times after an adverse real estate event?
For a Short Sale – Expect four years to pass from the completion date before applying for an FNMA loan. You can get an FHA mortgage three years from the date of sale. A USDA mortgage is similar, three years from the short sale. There are no short sale guidelines for obtaining a VA loan, however you may not have had more than one short sale.
For a Foreclosure – You need to wait seven years from the completion date for an FNMA loan, and three years from the completion date for an FHA or a USDA loan. Two years from the foreclosure date must pass to be able to qualify for a VA loan.
For Chapter 7 Bankruptcy – Four years from the discharge or dismissal date must pass for an FNMA loan. Three years from the discharge date for a USDA loan and two years from the discharge date for an FHA or VA loan must pass.
For Chapter 13 Bankruptcy – Two years from the discharge date or three years from the dismissal date must pass for an FNMA loan. For FHA or USDA, one year of payout must elapse, with payment being satisfactory and made on time. Buyer must receive permission from court. For a VA, one year of satisfactory payments must have been made and the buyer must also receive permission from the court.
What is your fee structure?
We handle real estate issues on a flat-fee or hourly basis. Please contact us for specific costs associated with your real estate issue.