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CantonOhio(OH) Emley, William W. Sr. personal infomation and areas of practice
- Lawyer name:Emley, William W. Sr.
- Address:4518 Fulton Drive NorthWest Canton,OH
- Phone:(330) 491-5240
- Fax:(330) 252-5440
- PostalCode:44718
- WebSite:http://www.realestateandconstructionlaw.com/
- Areas of Practice:Federal Regulation
Ohio CantonBuckingham, Doolittle & Burroughs, LLC attorney Emley, William W. Sr. is a Very good lawyer practice area in Federal Regulation,Buckingham, Doolittle & Burroughs, LLC
if you have any problem in Federal Regulation,please email to Buckingham, Doolittle & Burroughs, LLC or call (330) 491-5240 or Go to our company directly(addr:4518 Fulton Drive NorthWest Canton,OH) ,we will provide free legal advice for you.
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Canton Ohio lawyer Emley, William W. Sr.
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lawyer Emley, William W. Sr. Reviews
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The landlord is proposing that you assume a non-assumable loan and buy the house without recording the purchase. This is a bad idea for several reasons. First, their loan is almost sure to have a due-on-sale or transfer clause, which means that if the lender finds out that the interest in the property has been transferred, they can demand full pay off of the loan immediately. Second, if transfer of title is not recorded, the landlord can later claim that your "purchase" was not binding.. . They may be trying to lure you because they believe you otherwise wouldn't qualify for a conventional loan - if you were able to, it would be simple enough to simply sell you the house outright for $197,000 (enough to pay off their loans), and you could get loan terms better than the they have right now, plus a good deal if the house actually did appraise for $235,000.. . Lots of people try to take advantage of other people's naivete. Still, there's plenty of ways to work out something creative. You could, for example, purchase a percentage interest in the property as a joint tenant. But then you'd have a questionable partner that you would either have to buy out later, or eventually find someone else to buy out either your interest or both your interests.
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