7 Habits of Highly Effective Home Buyers

Home buyers: would you like to be guaranteed an effective purchase?

 That is, one that sets you up in the optimum position for the next phase of your life, bearing in mind factors of the budget, location, lifestyle and opportunities in the market?

 A great investment?

 Moving one step closer to your dream home?

 What home buyer wouldn’t want these?

 So how do we get there? 

“Sow a thought, reap an action; sow an action, reap a habit; sow a habit, reap a character; sow a character, reap a destiny.”

― Stephen R. Covey, The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change

Walk into any popular bookstore and you will find, generally between “biographies” and “religious” or “esoteric”, a section labeled “self-help”.

 And while some of the material can be gimmicky or weak, every so often a book comes in that makes you take stand up and take notice.

 “The Seven Habits of Highly Effective People” by Stephen R. Covey is such a book.

 25 million copies sold… 40 languages… 1,500,000 sales of the audiobook alone…

 Do I need to say more?

 Chances are good that you’ve probably heard of it!

 In this seminal work, Mr. Covey sums up over 25 years of experience in business, family, and educational spheres and conveys to the reader those seven practices common to the most successful individuals in their fields.

 In fact, Mr. Covey virtually guarantees effectiveness, which he defines in terms of the production of maximum long-term beneficial results, through working on these good habits.

 Based on Stephen Covey’s seven points, I suggest the following habits to any prospective home buyer, which will give you the edge on the competition and set you up for a successful home purchase!

 Spoiler alert:

 If you still have a copy of the book on your shelf and you haven’t got to reading it yet, I’m about to give you my personal take on the titular seven habits.

 So if you don’t want me to let the cat out of the bag, you might want to take in all 432 pages before you jump in here!

 Or not, it’s up to you!

 By following these home buying tips, however, you will increase your odds of success far beyond the average home buyer.

 Habit #1 – Be Proactive: Get pre-approved For Your Bank Loan

Mr. Covey’s first point deals with getting into the ongoing practice of being on the front foot, rather than living in a passive and reactive mode; not waiting for it all to happen for you but taking the first step.

 If you are looking to buy, the foremost proactive task is to get pre-approval for your mortgage. Approach your bank and find out what is the amount and terms for which you can be approved, based on your current income (and expenses).

 This is going to put you in the driver’s seat for the whole process – you will have a good idea of what you can afford, which in turn informs all your house-hunting and decision-making from here on out. Make sure you understand the difference between getting pre-approved and pre-qualified. Being pre-approved vs pre-qualified for a mortgage is not the same. Home sellers will want pre-approval! This will be the first meaningful task in preparing to buy a home.

 If you’ve been dreaming about that ideal living space, in being proactive you will have begun your journey toward it!

 “If I really want to improve my situation, I can work on the one thing over which I have control – myself.”

― Stephen R. Covey, The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change

 Habit #2 – Begin With The End In Mind: Determine what you want and what you need

Want vs Need When Buying a Home

Next, readers of the book are encouraged to envision a clear destination.

 Our imagination is a powerful thing, and it’s useful for more than just coming up with ways to spend this week’s Powerball, or making up pranks targeted at friends, colleagues, and loved ones. We can use it to develop a vision of our future for us to work towards.

 When it comes to buying a house, you can begin to envision what you want.

 Which area would you like to live in? What house style interests you? Garden or no garden?

 Moreover, ask yourself what you need: how many bedrooms do you require for your current and future family size? Do you need space for the number of vehicles you own? Space for all your appliances? Maybe there are some specific desires surrounding the type of neighborhood you want? 

Build a picture of the desired end towards which you can begin to move.

 “Start with the end in mind.”

― Stephen R. Covey, The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change

 Habit #3 – Put First Things First: Take a reality check

Now that you have identified what your end goal is, and also what your budget will allow, you can begin to put first things first.

 For house hunting, this entails getting a realistic idea of what’s out there and available.

 Using technology this can be done from the comfort of your own home.

 Jump online and you can quickly get an idea of how the market is looking. Some sites even offer virtual guided tours of potential homes.

 At this stage, you could even begin to drive through your desired neighborhood on a Sunday open house and begin to see for yourself what’s on the market.

 Nothing beats first-hand experience to get a feel for what is realistic!

 Using these methods you will build a solid profile of what your ideal spot could look like.

 Some buyers become disappointed or frustrated by leaving out this step, having a mentality which says “I want it all right now”, setting the bar for their purchase way too high.

 They want their perfect dream home for a low, low price.

 Indeed, the overarching theme of Mr. Covey’s book is how we set ourselves up for failure to reach the desired result not primarily because of external forces, but because of our own perceptions.

 Taking a reality check at this stage will equip you to engage with the market. 

“To change ourselves effectively, we first had to change our perceptions.”

― Stephen R. Covey, The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change

 Habit #4 – Think Win-Win: Aim high but be flexible

Most buyers have an idea in their head of “The One Home.”

This “One Home” is the home I’m supposed to encounter that will make me deliriously happy by checking all my requirements and coming in way under my budget.

 “It’s out there for me and I just have to find it.”

 Your reality check in the previous point will probably already have shown you that “The One Home” is a unicorn.

 There’s no such thing!

However, this point right here will help you to see that even if the “One Home” does not exist, it is still possible to be effective in reaching the desired result: a home that will give you the optimum long-term benefit and satisfaction for your investment.

Thinking “Win-Win” is about finding solutions that work for all parties involved – for example, you can get a great house at the right price without fleecing the seller.

 To find your “Win-Win” property, as opposed to the unicorn, will require flexibility and negotiation. You may have to compromise on some of your nice-to-haves on the property in order to secure the best possible arrangement.

 “Win-Win” thinking says, for example: “Ok, I wanted a house that was ready to move into right away, but here is a decent house in a good area which can be turned into a great house with some renovation, and I’ll still come in under budget.”

 Or, “Look, I’m spending a fraction more than I had originally planned, but this house checks all the boxes and will give us space into which we can grow.”

 Be flexible and find your Win-Win!

 “Happiness, like unhappiness, is a proactive choice.”

― Stephen R. Covey, The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change

 Habit #5 – Seek First To Understand, Then To Be Understood: Understand the process of buying and selling

Understand How The Home Buying Process Works. What a great fifth habit to have under your belt: Understand, before being understood.

 What makes Mr. Covey’s philosophies so good is that they deal with improving one’s character, not just quick fixes that only scratch the surface of the issue!

 When it comes to buying a house, what you need to understand is the process of buying and selling.

 You don’t have to have a degree, or train to be a real estate agent yourself, but it will help to find all the vital information.

 Don’t be scared to ask questions! Understanding what to do before buying a home is vital!

 After all, buying a home is one of the biggest investments a person can make!

 If you have a question about anything from paperwork to repayments to closing dates to mortgages, just ask!

 A good person to ask is your local real estate agents – if they aren’t equipped to answer your question directly, they can put you in touch with the necessary professionals!

 According to Mr Covey, when we try to offer advice, or assert our own desires, or bring a solution, without first understanding the problem, we set ourselves up to be ineffective.

 “Most people do not listen with the intent to understand; they listen with the intent to reply.”

― Stephen R. Covey, The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change

 Habit #6 – Synergize: Empower yourself with the right real estate team

There are those who have more experience than us in any given area.

Rather than re-invent the wheel for ourselves, we can benefit from the learning and experience of others.

 We already saw in the last point some of the advantages of being able to ask a good real estate agent for answers to some of the fundamental questions.

 Sure, you could do it yourself!

 You might conceivably even save some money by doing it yourself!

 However, by and large, when you weigh the benefit in terms of your investment of time, and the avoidance of unexpected hassles, generally speaking, making use of these specialists in their fields can pay for itself, so to speak, by saving you time as well as headaches.

 Your small team could involve a competent real estate agent, a qualified conveyancing attorney, a reputable mortgage broker and the best home inspector available.

 You could also involve a trusted friend or family member who can look at the prospective property with you and point out pro’s and con’s you may have missed.

 In addition, give weight to what your spouse or immediate family has to say – after all, they will be living there too! 

“When the trust account is high, communication is easy, instant, and effective.”

― Stephen R. Covey, The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change

 Habit #7 – Sharpen The Saw: Enjoy learning from the entire experience

Enjoy The Home Buying Experience. Every first-time buyer can relate to the rush of making their first purchase.

 When the offer is accepted, a celebratory notification is sent to family and friends, loaded with party emoticons.

 When the mortgage is approved, we crack open the champagne!

 Going through the process can involve ups and downs, but when you reach your goal it is worth it.

 Buying shouldn’t be something to endure but something to enjoy.

 And, even when there are those disappointments that might come along the way, you are learning and growing from the entire experience.

 You come out on the other side of the process with broader shoulders and more life experience. When things are thought through carefully there is  rarely any home buying disappointment.

 So, if you’re ready, jump in!

 Be proactive, have the end in mind, stay grounded in reality, think “Win-Win”, increase your understanding, work in team, and be learning and growing.

 You will be an effective home buyer!

 And of course, be sure to stock up on a bottle of your favorite Champagne!

 This post is taken from the Maximum Exposure Real Estate blog and can be read on-line here..

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

For your real estate purchase or mortgage refinance or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

@vestedland

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House flipping - 5 crucial questions to be asked

5 Crucial Questions to Ask Before You Flip Your First House

 By Daniel Bortz

Oct 30, 2019 (An oldie but a goodie)

 

Thanks to the seemingly endless glut of home improvement TV shows like “Flip or Flop,” “Masters of Flip,” and “Rehab Addict,” it seems like flipping houses has become America’s favorite pastime.

 But for the inexperienced, house flipping can be a dangerous and costly game. Make one wrong move, and that “great investment” can turn into a monumental mistake.

 Don’t want your first flip to be a flop? Here are five questions you might never think to ask yourself, but totally should, before you begin flipping houses.

 

1. Do I have a great house flipping team?

Buying and flipping a house isn’t a one-person job; it’s a team sport, and you need to surround yourself with the right players. This starts with having a savvy real estate agent who can help you not only find a great investment opportunity but also negotiate a great deal on the property. Buy low, and things are already looking up!

 You also need home improvement professionals who can guide you through the remodeling process and help you set a budget, determine what renovations to make (some yield a better return on investment than others), and solve any issues that crop up during construction.

 Typically, you want to hire a general contractor, a person who’s responsible for providing all of the laborers, building materials, and equipment necessary for the entire project.

 2. How long will it take to flip this house?

Ideally, you want to buy a house that can be renovated within four to six weeks, says Bobby Curtis, a real estate broker at Living Room Realty in Portland, OR.

 A short turnaround time will help you keep costs like interest and taxes to a minimum.

 On average, homes take about 180 days to flip, according to ATTOM Data Solutions, curator of a nationwide property database. But flipping a house can take a lot longer. After all, there’s no telling what you’ll find when you start tearing down walls.

 Mold could be lurking behind drywall in a basement, or there could be electrical issues beneath the surface, warns J.B. Sassano, president of Mr. Handyman, a national home improvement company based in Ann Arbor, MI.

 Also, depending on the housing market, it may take you a while to find a buyer once the home is fixed up.

 The moral of the story: Patience is more than just a virtue for house flippers—it’s a requirement.

 3. Am I putting too much at risk?

Although there are a number of loan options for house flipping, many first-time house flippers stretch themselves too thin when it comes to how much of their money they invest in a project. Some even put their entire retirement savings or child’s college fund on the line. Not a great idea!

 It’s important to truly assess your risk tolerance. Depending on where you are financially, you may or may not be a good candidate for flipping houses right now.

 4. Can I think like an investor instead of a homeowner?

When flipping houses, you have to keep future home buyers in mind. While it may be tempting, the last thing you want to do is make home improvements and design decisions that reflect your personal tastes instead of what most home buyers want.

 Be prepared to choose home features and housing materials that are classic and offer wide appeal. If you can’t commit to doing that, flipping houses isn’t the right endeavor for you.

 5. Do I understand my loan options?

Unless you have a ton of cash readily available, you’ll need to borrow money to buy and renovate a distressed property. But obtaining a loan for a house flip isn’t like getting a conventional loan for a home you intend to actually live in.

 Most house flippers use a “fix-and-flip loan” that’s specifically designed for purchasing and remodeling homes. There are five types of fix-and-flip loans, and each comes with its own set of qualification requirements and pros and cons.

 Hard-money loan: Sometimes called “rehab loans,” these are short-term loans intended for real estate investments. These loans are usually much shorter than traditional mortgages. Six months to one year is most common, but hard-money loans can go up to five years. Moreover, interest rates are considerably higher, typically ranging from 12% to 21%, and most hard-money lenders also charge 3 to 6 points upfront, where 1 point equals 1% of the loan.

 There’s also a limit on how much you can borrow. Typically, hard-money loan lenders allow you to borrow about 60% to 75% of the property value you intend to purchase. So, if you’re looking at a $200,000 property, for example, the most you’ll probably be allowed to borrow would be $150,000, meaning you’d have to pay $50,000 upfront.

 Cash-out refinance: If the value of your primary residence has increased, one financing option for your flip is a cash-out refinance. This lets you tap the equity in your home by refinancing your mortgage for more than you currently owe and taking the difference in cash. Your new loan will be the amount you still owe on your mortgage, plus the cash you wanted to take out.

 So, say you had a $300,000 loan, on which you still owed $200,000. That would mean you had $100,000 in equity in your house. You could cash out $25,000 of that equity, and get a new mortgage for $225,000, to replace your existing $200,000 loan—and then put that $25,000 toward your house flip.

 The drawbacks? You’ll have to pay closing costs—which average about 3% to 6% of the total loan—and if you’re refinancing to a higher mortgage rate, you could wind up paying more money in interest on your loan over the long run.

 Home equity loan or line of credit: Both a home equity loan or home equity line of credit are financing options that let you borrow money using the equity in your home as collateral.

 The big difference: a home equity loan provides you with the cash upfront, and you pay monthly installments over the length of the loan (like you do on your first mortgage). With a HELOC, you access the money in small chunks over the life of the loan.

 Investment line of credit: Also called an “acquisition line of credit,” an investment line of credit is similar to an HELOC—except it’s issued solely for buying investment properties.

 This short-term financing option—with loans generally lasting from about 18 to 24 months—lets you borrow cash as needed, up to a predetermined loan limit. These loans are best suited for people who have experience flipping houses, since borrowers are underwritten and approved based on their demonstrated record of owning or flipping investment properties, and their financial wherewithal.

 Crowdfunding: When using crowdfunding, or “peer-to-peer lending,” the funds are raised through the contributions of a large number of people, usually through the internet.

 For instance, RealtyShares, a San Francisco–based company that finances investment properties in 35 states, gives house flippers access to more than 38,000 high net worth individuals who invest in a specific transaction for as little as $5,000. RealtyShares funds up to 70% of the estimated after-repair value of a property in as little as 10 days. Interest rates vary from 8% to 11%, with the average loan term on luxury flips being 12 months.

 

first time flippers fixer-upperhome remodeling house flipping

Daniel Bortz has written for the New York Times, Washington Post, Money magazine, Consumer Reports, Entrepreneur magazine, and more. He is also a Realtor in Virginia.

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

For your real estate purchase or mortgage refinance or

if you have questions about what you see here, contact

Dr. Title

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

Follow us on Twitter @vestedland

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Some FAQs about RESPA - the Real Estate Settlement Procedures Act

The Consumer Financial Protection Board has issued Real Estate Settlement Procedures Act FAQs. 

As a borrower, you are entitled to know that some title insurance agents are involved in kickback schemes which are illegal, an marketing programs which are legal (provided the RESPA guidelines are adhered to!)

The FAQs begin with a discussion of RESPA Section 8 General 

QUESTION 1: What are the provisions of RESPA Section 8? 

ANSWER (UPDATED 10/7/2020): RESPA Section 8 prohibits certain actions related to federally related mortgage loans. RESPA Section 8(a) prohibits kickbacks for business referrals related to or part of settlement services involving federally related mortgage loans. 12 USC § 2607(a); 12 CFR § 1024.14(b). RESPA Section 8(b) prohibits unearned fee arrangements, i.e., splitting charges made or received for settlement services, except for services actually performed, in connection with federally related mortgage loan transactions. 12 USC § 2607(b); 12 CFR § 1024.14(c). RESPA Section 8(c) identifies certain payments that are not prohibited by Section 8. 12 USC § 2607(c); 12 CFR § 1024.14(g).

Appendix B to Regulation X provides examples to illustrate the application of RESPA to particular fact patterns, including fact patterns under Section 8(a), 8(b), and 8(c) indicating whether or not a violation occurred. Appendix B to 12 CFR part 1024. RESPA Section 8(d) details specific penalties for violations of Section 8, including for Sections 8(a) and 8(b). 12 USC § 2607(d).

Got a question about RESPA, read the full FAQs here.

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

For your real estate purchase or mortgage refinance or

if you have questions about what you see here, contact

Dr. Title

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

Twitter - @vestedland

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Wire fraud on rise - it's the scam that keeps on taking

In real estate, as in war, forewarned is forearmed.  It’s especially true today because of the use of wire transfers between parties, banks and title insurance agents and companies, to deliver funds for contract deposits, mortgage payoffs and buyer’s funds.

We are writing about the weapon used by scammers – the falsification of wire instructions.  

 A recent article from National Mortgage Professional magazine written by Lew Sichelman dives into the scam.

 Here’s the text of the article which can be found on line at nationalmortgageprofessional.com/news/scam-keeps-taking

 The Scam That Keeps On Taking

 Cyber thieves are relentlessly targeting buyers in the middle of their title insurance and escrow process.

 Fraud schemes come and go. Romance scams are hot right now. So beware of a new “love interest” who could trick you into falling for them when all they really want is your money.

 But one ruse that has been particularly persistent is the wire transfer dodge in which cyber-criminals impersonate title firms in trying to steal mortgage payoffs. So much so that the Secret Service recently issued an advisory warning on a “drastic increase” in the scam. “We have seen a sharp increase in real estate wire fraud in recent months,” says Stephen Dougherty of the agency’s Cyber Investigation Division.

 I first wrote about wire fraud about a half-dozen years ago in my nationally syndicated newspaper column when I heard the general counsel of the National Association of Realtors warn an audience to be alert to what was happening. Six years or so later and the subterfuge is still popular with the thieves who perpetrate it.

 It’s easy to see why. Wire fraud is far more lucrative than robbing a bank. Whereas bank robbers get away with just $1,400 on average per heist, according to Bruce Phillips, senior vice president and information security officer at WFG National Title insurance in Portland, Oregon, the average lost to swindlers in a wire heist is $140,000-$160,000. One poor soul lost $1.2 million, never to be seen again.

Taken To Task

Sometimes marks get lucky. Listen to the tale of Aaron Cole, a vice president of a gear and machine company in Oregon City, Ore., who lost all his money – $123,000 to be exact – when he complied with phony wiring instructions. The e-mail certainly looked legit. It wasn’t, though, and in the click of a mouse, his money was gone. The criminals quickly whisked the dough to various accounts in the United States and overseas.

 Cole had sold his old home and was ready to move with his wife and two children into a new place. But that happy occasion turned into a nightmare when he had to tell his wife their closing money had vanished. “I never felt like that before in my life, and I hope I never feel like that again,” he told my associate, Mark Fogarty.

 “The scammer got between my correspondence with the title company and me,” he said. “To my untrained eye, [it] looked to be from the same people I’d been working with all along.”

 By the time the legit title company called a week later with the actual wiring instructions, he recalled, “I knew my money was gone and there was  .very little chance of ever recovering any of it.”

 Luckily, WFG, his title company, [Vested Land Services is a WFG agent, ed.] made Cole whole, allowing him to close on his home and move in just in time for Christmas. In return, he became something of a spokesman for the company, telling his story to media outlets to warn consumers about the dangers of real estate “phishing” scams.

 Taylored Appeal

 More recently, the American Land Title Association told the story of a chap named Taylor – his last name was omitted to protect his privacy – a move-up buyer outside of Denver who received an email appearing to come from the title company and asking him to wire his closing funds early in the transaction.

 “The emails appeared convincing and included my exact amount for closing that had previously been discussed by the title company,” Taylor told ALTA. “I received the wiring instructions and wired just under $80,000 as instructed. Two days later, I was notified that the money did not arrive at the title company and that’s when I realized my life savings had been stolen.”

 Fortunately for Taylor, his title company, Title Forward, advised him how to notify the financial institutions involved of the crime. But after two days, the banks provided no assurance his funds were secure, so the company called in Thomas Cronkright, a funds recovery expert who himself was a wire fraud victim.

 Cronkright, who runs a company called CertifID, gathered the emails and bank information and deployed CertifID’s Funds Recovery Services to launch a coordinated effort that involved the Secret Service to recover the funds. Within a few hours, Taylor’s money had been secured. And within a week of complying with the criminal’s wire request, his life savings was back in his bank account.

 FBI Interest

 Of course, very few victims are as fortunate as Taylor or Aaron Cole. Nevertheless, Taylor said he found the entire experience “shocking,” adding that “if I can be tricked, anyone can.” Turns out, many people are. According to the FBI’s latest Internet Crime Report, wire fraud -- technically referred to as Business Email Compromise – has cost companies and home buyers more than $3.5 billion in recent years.

 You rarely hear of these victims’ stories, largely because they are too embarrassed to come forward. But the scheme accounts for nearly half of all cyber crime losses. It starts with a “phishing” expedition in which fraudsters search the Internet for folks involved in a real estate transaction. And with more than five million sales a year, there are plenty of those.

 Once the bad guys latch on to e-mails between buyers and their agents and lenders, they gain transaction details, including the amounts buyers are required to transfer for their pending closings. Armed with that information, they send fake wiring instructions under the guise of the title company or other professionals involved in the transaction.

 The instructions often tell buyers to send the money immediately – sometimes as digital currency – or the transaction will be delayed or canceled altogether. And if an unsuspecting buyer complies, his money is gone in a flash.

 LO Alert

 Consequently, it’s incumbent upon real estate agents and loan officers to alert their clients that it’s entirely possible they will receive such a request and what to do about it. Reminding them frequently of the possibility so often won’t hurt, either. Warn them that if they receive any e-mails from anyone claiming to be a part of the transaction, they should call you to verify that fact before doing anything else.

 Cronkright, the recovery expert, also advises lenders and title agents to communicate clearly with clients about how and when the buyer will be called upon to transfer closing proceeds. Tell them, too, that the wiring instructions will never change.

 When the final instructions are sent, do so prior to sharing the final settlement statement. Don’t send the instructions by regular e-mail. Rather, send them in a secure, encrypted message. Make sure you obtain written proof from the buyer that he received your instructions.

 Meanwhile, ALTA, the title business trade group, offers a number of resources to help protect against wire fraud and raise awareness about the threat, including a wire preparation checklist that can be used as a best practice for verifying outgoing wire information and a rapid response plan that can help aid in the recovery of funds. The organization also has produced a rack card explaining wire fraud and the steps consumers should take to avoid becoming a victim.

 Meanwhile, all you lonely guys and gals out there, your antenna should wiggle when someone of the opposite sex comes on to you. Be particularly wary of a tragic story or an emergency that pops up after you’ve known that person for only a short period. That’s how romance scams begin.

 This article was originally published in the NMP Magazine August 2021 issue.

Lew Sichelman has been covering the housing and mortgage sectors for 52 years. His syndicated column appears in major newspapers throughout the country. He also has been the real estate editor at two major Washington, D.C., dailies and spent 30 years on the staff of National Mortgage News, formerly National Thrift News.

Keywords: cyber crime cybercrime wire fraud

 We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

For your real estate purchase or mortgage refinance or

if you have questions about what you see here, contact

Dr. Title -

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

@vestedland

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Can home title thieves can't steal your house?

Rick Kahler: Can home title thieves can't steal your house? No, they can't.

[Editor’s comments in brackets]

 Home title theft.

This is a “threat” I only learned about from frantic radio commercials warning that your home can be stolen from you. They claim thieves can deed your property to themselves and then mortgage or even sell it without your knowledge. In fact, they may have done so already! You may have lost all your home equity! You’ll discover the fraud when you are evicted by a foreclosure or new owner!

 Of course, after all these alarms, the ads offer a solution: buy their title theft insurance. They promise to shield your title, monitor it 24/7 and alert you when a fraudulent title transfer is filed. One company charges $79 a year for $1,000,000 of title theft insurance. It’s highly unlikely any such company will ever pay out a dime of insurance.  [One never knows, does one? With identity theft rising, need we say more?]

 The claims are so over the top that these companies either don’t understand the law or are intentionally

bending the facts. Like most things, these outlandish claims include a grain of truth. It is true that anyone can forge your name to any document, including a deed supposedly transferring title to the forger. Such a deed could be filed with the county register of deeds.

 That doesn’t mean someone has stolen your title.

 First, a forged deed is not valid and conveys nothing. Only you can legally transfer your title to a third party. If a buyer or a lender rely on a forged deed and don’t do their due diligence on a property’s title, they are out of luck. They, not the legitimate property owner, will ultimately lose any money paid to the thief. [This is why title insurance is important.]

 Second, a would-be forger could easily get a blank deed form online and fill in your property’s legal description obtained from public records. However, the signature must be certified by a notary public, who is required by law to verify your identity.

 Third, it is next to impossible for the thief to mortgage or sell the property to a knowledgeable lender or buyer. Lenders, title companies and real estate firms have so many safeguards in place that there is almost no chance a fraudulent transfer won’t be discovered. The required credit reports, employment and income verifications, back tax returns, appraisals and title insurance are bound to alert you and the lender that something is wrong.

 Even with a cash buyer, a thief’s chances of success are small. Only the most naïve buyer will fail to obtain title insurance. Title insurance protects buyers against defects in the title, including liens, fraud and forgery. It will alert the buyer or lender to any defects prior to closing. If a title company misses a defect, it must pay for any damages. No legitimate attorney or real estate firm will allow you to buy a property without this insurance.

 Fourth, if a buyer is naïve enough to buy property without a legitimate appraisal or title insurance, it is possible they could be conned. If they show up in your driveway with a moving van, however, they — not you — are the ones at risk of losing their money.

 Fifth, forgery is a felony in all 50 states, punishable by jail time and heavy fines. The court might also require restitution for damages caused by the forgery, such as the costs of clearing the title.

 In the extremely unlikely event that someone goes to the trouble and risk of committing all these crimes, the cost of clearing the title is the biggest risk to a homeowner. That will require the assistance of an attorney. Would that potential expense make it worthwhile to consider buying title theft insurance? Perhaps, assuming the policy covered such expenses. Unfortunately, none do.

 Rick Kahler is president and owner of Kahler Financial of Rapid City.

 [Most cases of stolen title are from decedent’s estates, especially in rundown neighborhoods.  Spying an empty house, maybe the owner is written up in an obituary, or the thief just finds out about it, it’s a prime subject for title theft. Agreed that a savvy buyer will most likely not get trapped, lenders are sometimes not so savvy.]

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

For your real estate purchase or mortgage refinance or

if you have questions about what you see here, contact

Dr. Title - Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

Follow us on Twitter @vestedland

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Land banks to the rescue!

Land banks - a municipality's new tool in its fight against housing decay.

Land banking is a relatively new concept developed in the face of rising cases of "zombie" properties that blight our towns, boroughs, hamlets and cities.  If you have never heard of a land banking, here are some

Frequently Asked Questions on Land Banking

 1) What is a land bank?

Land banks are governmental entities or nonprofit corporations that are focused on the conversion of vacant, abandoned, and tax delinquent properties into productive use.

 Vacant, abandoned, and tax-delinquent properties are often grouped together as “problem properties” because they destabilize neighborhoods, create fire and safety hazards, drive down property values, and drain local tax dollars. In some sense, these are properties the private market has altogether rejected.

 Land banks, in essence, are a direct response to this growing trend of vacancy and abandonment, created to strategically acquire problem properties and convert these liabilities into assets. In short, land banks are intended to acquire title to these problem properties, eliminate the liabilities, and transfer the properties to new, responsible owners in a transparent manner that results in outcomes consistent with community-based plans.

 Most land banks have special powers (see below) that enable them to undertake these activities more effectively and efficiently than other public or nonprofit entities. When thoughtfully executed, land banking can resolve some of the toughest barriers to returning land to productive use, helping to unlock the value of problem properties and converting them into assets for community revitalization.

 2) How are land banks created?

Typically, land banks are created as public entities by a local ordinance, pursuant to authority provided in state-enabling legislation. Land banking programs can also be developed within existing entities, such as redevelopment authorities, housing departments, or planning departments.

3) How many land banks are operating throughout the country?

Based on our knowledge of and experience within the field of practice, we estimate there are approximately 250 land banks and land banking programs in operation throughout the country (as of July 2021). The states of Michigan, Ohio, Georgia, Pennsylvania, and New York currently have statewide land bank associations that represent their large numbers of active land banks. For a national inventory of land banks and land banking programs, check out our new Land Bank HQ Interactive Map. [See below for more information - ed.]

4) How does land banking work?

Land banks are designed to acquire and maintain problem properties and then transfer them back to responsible ownership and productive use in accordance with local land use goals and priorities, creating a more efficient and effective system to eliminate blight.

 In order to accomplish these tasks, land banks are granted special powers and legal authority pursuant to state-enabling statutes. Though these statutes differ widely from state to state, the more recent examples of comprehensive land bank legislation generally grant to land banks the following powers:

 We want to stress that a land bank is not a “silver bullet” for communities struggling with blight. Though land banks are uniquely designed to help reduce problem properties, the policies, priorities, and activities of a land bank must complement other community strategies and activities, such as strategic code enforcement, smart planning and community development, and effective tax collection and enforcement.

5) Aren’t land banks competing with the private market, with an unfair advantage?

Not so. In fact, a land bank is a direct response to a growing inventory of problem properties that the private market has altogether rejected. Most vacant and abandoned properties have serious legal and financial barriers that detract responsible, private investors. For instance, many abandoned properties have a clouded title, which introduces a level of uncertainty and liability few responsible investors, if any, are willing to assume. Also, many tax-foreclosed properties have accumulated years of back taxes that far exceed the market value of the property. Similarly, many properties left vacant and abandoned for too many years require an investment in repairs that greatly exceeds what the market could ever return. A land bank, therefore, is designed specifically to address the inventory of problem properties the private market has discarded, and to convert these neighborhood liabilities into assets that advance community-based goals.

6) When does it make sense to use land banking?

Any community considering the creation of a land bank should assess a number of factors to determine if a land bank is needed or likely to be successful. Some common triggers for creating a land bank include:

 Large inventories of vacant and abandoned property

Properties with little to no market value

Properties with delinquent taxes in excess of fair market value

Properties with title problems

Inflexible policies that dictate the disposition of public property, denying local governments the chance to be strategic and nimble

The speculation and uncertainty inherent in the auction sale of tax-foreclosed properties

Some jurisdictions may already have an entity or agency (e.g. a redevelopment authority) that is empowered with tools to effectively take control of large inventories of problem properties and return them to productive use, obviating the need for a land bank. In some cases, however, such entities are focused primarily on development, rather than on blight elimination and stabilization strategies in more distressed neighborhoods. Where this is the case, the community may still want to consider creating a land bank or land banking program.

7) What does a typical land bank program look like?

While all land banks exist to serve the same primary purpose of acquiring problem properties and returning them to productive use, they are quite diverse in their structure and operations. We estimate there are approximately 170 land banks and land banking programs in operation throughout the country (as of January 2018), and they vary greatly in terms of the types of cities, regions, and economic conditions in which they operate, the size of their inventories, their staff capacity, their legal authorities, and their goals and programs. Despite this diversity, our experience has shown that successful land banks exhibit some similar characteristics:

 Strategic links to the tax collection and foreclosure process. Tax delinquency is often the most significant common denominator among vacant and abandoned properties, which explains why nearly all land banks have established strategic links to the tax foreclosure process as a primary source of acquisitions. This is particularly in communities where (a) a primary cause of vacancy and abandonment is an ineffective tax foreclosure process and (b) where there are statutory powers, intergovernmental agreements or policies in place for a land bank to acquire properties through the tax foreclosure process at little to no cost. Though auctions can generate positive outcomes for marketable properties, the speculative auction rarely if ever leads to positive outcomes for problem properties. Land banks can and should play a key role in acquiring and converting tax-foreclosed properties to productive use.

 Operations scaled in response to local land use goals. Successful land banks have established acquisition and disposition strategies that directly support the implementation of local land use goals and meet community needs. Some land banks tackle massive inventories of extremely unsafe and abandoned properties as part of an urgent stabilization and public safety strategy, while others operate selectively with extreme deliberation. Regardless of the scale of operations, land banks should always make decisions based on a strong understanding of community priorities and goals, and guided by neighborhood, local and regional revitalization plans.

 Policy-driven, transparent, and publicly accountable transactions. The acquisition and disposition of properties – especially those that have long been harmful eyesores – is an important and sensitive endeavor. Successful land banks have gone to great lengths to build and maintain trust with the public through complete transparency in the establishment of priorities, policies, and procedures that govern all actions. Land banks should make sure these ground rules and policies are established prior to any transactions, and annually revisited with public input to maintain a high standard of transparency and accountability. Moreover, land banks should strive to create websites that offer members of the public full access to accurate, up-to-date information pertaining to all land bank operations, programs, policies, and activities, including sales listings and past transactions.

 Engagement with residents and other community stakeholders. There is no substitute for engaged community stakeholders who understand a community’s history and goals — and whose lives are most directly by a land bank’s work. Successful land banks have found creative and consistent ways to inform, engage, and empower these active residents to help prioritize land bank interventions and develop long-term solutions. Whether establishing a community advisory board or regularly hosting neighborhood meetings, land banks should explore and implement practices that affirm a strong commitment to inclusiveness, engagement, and empowerment.

 Alignment with other local or regional tools and community programs. Because a land bank is a tool to support locally developed land use goals, and not a goal in and of itself, it is important to coordinate with other blight prevention tools and programs. Successful land banks have helped facilitate and work within diverse collaborations across the public, private, and nonprofit sectors that share similar economic and community development goals. We can’t stress enough that, in order to truly be effective, land bank activities must complement existing blight prevention efforts, including effective tax enforcement, strategic code enforcement, neighborhood investments, and community-based planning.

 Recurring, reliable source of funding. A land bank’s focus is on the inventory of problem properties the local property market has basically rejected, and therefore will always require some level of public support—whether cash or in-kind—that is proportional to the scope and scale of vacancy the land bank is expected to help resolve. With a recurring and reliable source of funding, land banks can focus on the types of creative interventions and community partnerships that are required to transform liabilities to productive use that meet and advance community goals.

 A land bank is not a panacea for all problems associated with blight, or even a necessary entity in many cities, but in the right environment and with the right legal structure, a land bank can be a key tool for returning vacant and problem property to productive use.

 8) What are some of the core powers of a land bank?

Depending on state and local law, land banks often have unique legal powers to support their activities and facilitate the return of problem properties to productive use. Though these statutes differ widely from state to state, they generally grant the following powers:

Obtain property at low or no cost through the tax foreclosure

Hold land tax-free

Clear title and/or extinguish back taxes

Lease properties for temporary uses

Negotiate sales based not only on the highest bid but also on the outcome that most closely aligns with community needs, such as workforce housing, a grocery store, or green space

 Using these special powers, land banks can streamline blight removal and create a nimble, accountable, and community-driven approach to returning problem properties to productive use.

9) How is a land bank different from a redevelopment authority?

In a few states, legislation has been passed that grants redevelopment authorities many of the same powers as land banks. In Louisiana, for example, some redevelopment authorities can also function as land banks. However, in most states, redevelopment authorities and land banks differ both in terms of their legal powers and their mission. Land banks typically implement disposition policies that allow greater flexibility than a redevelopment authority in terms of transferees and consideration. However, unlike many redevelopment authorities, land banks do not have the power of eminent domain, nor do land banks have the power to tax. As for mission, many land banks are focused on acquiring, stabilizing and returning to productive use those properties that are considered to have the most blighting influence in a community. These are properties that may not have an immediate redevelopment opportunity, but are destabilizing neighborhoods and undermining quality of life. In comparison, a redevelopment authority is typically focused on properties with near-term redevelopment potential and on large scale development projects that align with highly visible and long-term economic development goals. 

10) How is a land bank funded?

Land banks are generally funded through a variety of sources, which may include revenue from the sale of properties, foundation grants, general fund appropriations from local and county governments, and federal and state grants. Land banks in certain states have received significant funding from the federal Hardest Hit Funds (for example, Michigan and Ohio) and the National Mortgage Settlement Funds (for example, New York and Illinois).

 A couple of financing mechanisms unique to land banks have been included in state-enabling legislation. For instance, in Michigan and New York, land banks are able to recapture 50% of the taxes on properties returned to the tax rolls for five years. In Ohio, special fees imposed on delinquent taxpayers provide a dedicated source of funding for land bank operations. Finding consistent and preferably dedicated funding sources is critical to the success of land banks, as they incur significant costs converting unsafe liabilities the private market has rejected into assets that improve neighborhood vitality. Several of the more successful land banks from around the country are also capitalized by their local units of government either through yearly budget allocations or in-kind assistance such as shared staffing.

11) How many properties do land banks generally have in their inventory at any given time?

Land bank inventories vary greatly from jurisdiction to jurisdiction. Inventory sizes range anywhere from a few properties to thousands of properties. Reasons for this variation include the size of the community in which the land bank is located, the level of distress and disinvestment in each community, the land bank’s property acquisition process, strategy, and authorities (including whether state law grants the land bank the authority to pick and choose which properties to acquire out of tax foreclosure), and the mission and goals of the land bank.

12) What kinds of properties do land banks acquire?

Most land bank acquisitions are vacant, residential, tax-delinquent properties. In addition to tax foreclosed parcels, land banks can acquire Real Estate Owned (REO) properties and receive private donations and public land transfers. Although most properties are typically vacant residential single-family homes or vacant lots, land banks also acquire multifamily dwellings, commercial and industrial properties, and in rare cases, occupied rental properties. In fact, some land banks even have well-developed brownfields programs through which they acquire large scale, formerly industrial properties.

 See more at https://www.communityprogress.net/land-banking-faq-pages-449.php#What%20is%20a%20land%20bank?

Keywords land bank foreclosures zombie

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

For your real estate purchase or mortgage refinance or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

a/k/a Dr. Title

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

Follow us on Twitter @vestedland

Disclaimer:

The information included is designed for informational purposes only. It is not legal, tax, financial or any other sort of advice, nor is it a substitute for such advice. The information may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate in parts. It is the reader’s responsibility to comply with any applicable local, state, or federal regulations. Vested Land Services LLC and their employees make no warranties about the information nor guarantee of results, and they assume no liability in connection with the information provided.

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Independent title insurance agents - the key to your real estate transaction

Vested Land Services LLC has long avoided joint ventures and other business arrangements with mortgage brokers, real estate agents and attorneys.  Unfortunately, in these cases, the end-user of the title insurance process - the homebuyer or homeowner - usually doesn't know she is being steered to a title agent that has a financial arrangement - a kickback - with the lender or real estate agent  or attorney.  Sometimes it's disclosed but in a fashion designed to avoid the customer's curiosity as to the nature of that arrangement.

Moral of the story - 

know your title insurance agent!

A recent settlement in a case involving a national lender and title insurance company was made public.  Here's the news release from Bloomberglaw.com

Title Insurance Kickback Case Ends in $1 Million Settlement Deal

Aug. 11, 2021, 3:07 PM

https://news.bloomberglaw.com/banking-law/title-insurance-kickback-case-ends-in-1-million-settlement-deal

 Suit one of several alleging schemes between lenders, insurers

Judge advanced case in January after initially dismissing it

Sierra Pacific Mortgage Co. will pay $990,000, plus up to $280,000 in legal fees, to resolve racketeering claims over an alleged scheme to refer mortgage borrowers to a title insurer that gouged them and kicked back some of its excess profits, according to a federal court filing in Baltimore.

 Each of the approximately 307 homeowners ripped off by the conspiracy would get about $3,200 out of the settlement, the lead plaintiffs say in a motion seeking preliminary approval for the deal from Judge George Levi Russell III.

 That recovery would provide a “substantial benefit,” given that “in most instances this award is many times more than the kickbacks paid” or “the increased costs resulting” from them, according to the settlement motion.

 “Like all complex commercial cases and class actions, this case was not without its associated risks,” the filing says. “While class counsel firmly believe this case is strong, no case is full-proof.”

 If approved, the agreement would end litigation in the U.S. District Court for the District of Maryland over kickback allegations involving Sierra Pacific and All-Star Title Inc., which isn’t named as a defendant.

 The proposed class action, filed in 2019, is one of several alleging violations of the Racketeer Influenced and Corrupt Organizations Act and the Real Estate Settlement Procedures Act by mortgage providers taking kickbacks from All-Star.

 Each of the lawsuits accuses a residential lender of referring customers to All-Star, which was allegedly able to charge an inflated rate for title settlement services thanks to the steady source of customers.

 Russell initially dismissed the claims against Sierra Pacific in March 2020, saying its “payments to All Star fall squarely within” RESPA’s “safe harbor” provisions because they were for services rendered.

 But he vacated that decision in January, admitting he’d fundamentally misunderstood the allegations, including the direction of the alleged kickbacks. It’s plausible those weren’t “bona fide” payments for “goods or facilities actually furnished or for services actually performed,” the judge said.

 Smith, Gildea & Schmidt LLC and Joseph, Greenwald & Laake PA are co-counsel for the homeowners. Sierra Pacific is represented by Weiner Brodsky Kider PC.

 The case is Walls v. Sierra Pac. Mortg. Co., D. Md., No. 19-cv-595, motion for preliminary settlement approval filed 8/10/21.

 

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

For your real estate purchase or mortgage refinance or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

a/k/a Dr. Title

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

@vestedland

Disclaimer:

The information included is designed for informational purposes only. It is not legal, tax, financial or any other sort of advice, nor is it a substitute for such advice. The information may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate in parts. It is the reader’s responsibility to comply with any applicable local, state, or federal regulations. Vested Land Services LLC and their employees make no warranties about the information nor guarantee of results, and they assume no liability in connection with the information provided.

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Homebuyers ask - What is a Certificate of Occupancy?

What is a Certificate of Occupancy?

Why do I need a Certificate of Occupancy?

When you’re buying a home, of course, you want to know that it’s safe. When you buy a property, you need to follow some requirements, one of which may be getting a certificate of occupancy. A certificate of occupancy is also called a CO. The general idea behind the CO is that it verifies a property is suitable to live in.

Beyond that, the following are more details to know about a certificate of occupancy.

 The Basics

 The certificate of occupancy is a document that shows a structure, like a house or office, is safe for inhabitation. A CO includes what the property is legally classified as in terms of zoning. For example, the CO will indicate whether the property is for residential, commercial, retail, industrial or mixed-use. That means that the property is being used as it’s meant to be. For example, residential property should be used as a primary residence.

 A CO verifies a property is up to code and in compliance.

 The third thing a CO does is show that a property is suitable for occupation based on the standards in the municipality where it’s located.

 A CO will include, along with verification that a property is up to code, the property address, a legal description including square footage, the zoning code, the owner, and any additional notes that might be relevant to the property’s safety.

 You can’t live in a property or use it until there’s a certificate of occupancy issued.

 When Do You Need a CO?

Local rules and specific situations determine if you need a certificate of occupancy to sell a house.

 If you have a converted space, you’ll need one. Basically, what this could mean is that if you were selling a multi-family home but converting it into a single-family home before doing so, the certificate needs to show the code change. If you’re converting a business into a residential space, again, you’ll need a CO showing the change.

 If you’ve made a lot of renovations, you’ll need a CO to sell it. [This is why it is important to "close our" building permits by having the work inspected by the municipality when the work is done.

 If you’ve done any type of remodeling, it’s best to verify whether you need a CO or not before you try to sell a home.

 If you didn’t have a CO before, but you need one to sell the home, then you might have to make changes to get it up to code.

 If you built a new house to sell, you’d need a CO as part of the sale.

When your home was built, there was probably a CO issued. As long as you haven’t made any major renovations or the building code hasn’t changed, then you should be able to use that one.

 How Do You Get One?

 If you do need a CO, then you can contact your local zoning or building department. There should be a website in the city or town where you live to indicate who to contact.

 If you have an existing home, you can apply for a CO at your local building department. Sometimes you might need to show architectural plans to apply if there were extensive renovations or the home was just built.

 Finally, if you do need a CO, someone has to come from the local government and inspect the home. It’s not the same as a home inspection that occurs when you’re doing a real estate transaction.

 During a CO inspection, the professional will come and compare the building to the current code and make sure there are no violations. They’ll look at general building components, plumbing, electrical, fire safety, and more minor elements.

 Then, at the end of the inspection, you get a report.

 If you passed the inspection you can claim your CO and go forward with the home's sale. If you don’t pass, then you’ll receive a list of what needs to be fixed within a particular window of time. Once you make the repairs, you’ll have another inspection before you can move forward.

 If you need a CO and you don’t get one, your transaction might not go through because a lender will not want to provide financing for a home that isn’t safe. You might also be fined by your municipality or sued.

 As a final note, in some municipalities, you need a new certificate of occupancy each time you sell a property or when a new tenant moves in if it’s a rental. If you aren’t sure about anything, check with your local building or zoning authority.

 

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

For your real estate purchase or mortgage refinance or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq. a/k/a Dr. Title

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

@vestedland

Disclaimer:

The information included is designed for informational purposes only. It is not legal, tax, financial or any other sort of advice, nor is it a substitute for such advice. The information may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate in parts. It is the reader’s responsibility to comply with any applicable local, state, or federal regulations. Vested Land Services LLC and their employees make no warranties about the information nor guarantee of results, and they assume no liability in connection with the information provided.

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