Is It The Right Time To Buy A House?

House Buying ProcessSo you made your life-changing decision to buy a house. Now it is the right time to take a step back and decide whether it is reasonable to make this kind of decision right now. Buying a home is a complex process that requires a big amount of time, money and patience.

Here are some questions that are absolutely necessary to be asked before the purchase:

Is My Credit Report Good Enough? 

It is extremely important to check your credit report and score. The first thing lenders want to know is how much of your monthly income goes towards debt payments (debt-to-income ratio). This ratio is expressed in a percentage of your personal debt. Luckily, you have the possibility to check online your credit. According to the law, you’re allowed to receive one free copy of your credit report per year, by clicking here. Do not hesitate to check your report for mistakes, because even the small ones can cause rejection. Continue reading

Why Do You Need an Attorney When Buying or Selling a House?

Buying a houseBuying a house will probably be the most significant and the largest financial purchase you will make in your life. Of course, the house buying or selling process is one of the most complex and stressful things that requires much time, knowledge and a lot of effort, but not only. Also, this process involves the law of real estate, because each state has its own requirements and certainly there are different cases and problems demanding special issues of practice in this field of law. A real estate lawyer is specially trained and has enough experience to deal with these problems.  That is why you should start with a consultation with an experienced real estate attorney, who can help you avoid making any mistakes in buying or selling a house.

Home Buying Statistics

The 2013 National Association of Realtors (NAR) has conducted a Home Buyer Survey and it claims that 16% of purchased homes were new houses. The average price for a house was $210,000. The average price for a new house constituted $259,000, and for a previously owned – $196,000.

According to NAR in 2012 the average household income of buyers was $83,300.

Financial Crimes Enforcement Network (FinCEN) states that 69,000 suspicious activity reports to mortgage loan fraud were received in 2012. Here you will find more information about home buying/selling statistics.

Who are All of the Parties Who Could be Involved in Your Real Estate Closing?

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Main Areas of Homeowner Liability

In many states, property owners owe different duties to people who come onto their property. They have a liability to protect any person from harm or injury that enters their premises. There are three areas under which a homeowner is liable to anyone on the homeowner’s premises:Avoid-Homeowner-Heartbreak-with-Liability-Insurance

  1. invitees
  2. licensees
  3. trespassers

In states that still distinguish among these categories of people, the legal duty owed to each category is different. It is important to ask a lawyer whether these categories and standards of care apply in your state.

Let’s see what each category mean.

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Real Estate Mortgage Industry. Types Of Real Estate Mortgages

Buying a home is one of the biggest purchases a person or a family makes and it is also a difficult process. Not everyone has enough money on their accounts to buy a house, and this is when real estate mortgages come into play.

mortgageA mortgage is a loan made in exchange to the title of the borrower’s property. If not paid on time, the lender has the right to foreclose on the property and sell it to cover the loan. Mortgage lending is the primary source to finance private ownership of residential property. There are different types of mortgages, so let’s try to define each type of them.

fixedA fixed rate mortgage is one that includes an interest rate that remains the same for the entire life of the loan. Fixed rate mortgages are the most popular and their biggest advantage is that the homeowner is able to budget their expenses. The opposite of this is an adjustable rate mortgage that includes fluctuating interest rate that varies over the life of the loan and it is adjusted according to a set formula.

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Legal Cartoon

Compliments of Mark Anderson of Andertoons

Legal Cartoon

Compliments of Mark Anderson of Andertoons

How to Place a Bid on Legal Bistro

Bid-for-Placement: what does it mean? Why do we need it?

A bid is a sum of money that a lawyer offers for the opportunity of talking to a client, to receive his contact information and discuss his case (the minimum amount you can bid on is 6 law dollars).

It’s important to remember that a lawyer’s bid on a case determines where in the list of competing, “bidding” lawyers their profile will be displayed to the clients, who posted the case. The profile with the highest bid will be displayed first and the lowest, respectively, the last.

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Writing an Effective Biography on Legal Bistro Helps Attorneys Get New Clients!

Why should a lawyer bother to write an outstanding biography and why is it the most important part of the lawyer profile? It’s so simple!

A bio is a snapshot of a lawyer’s professional experience:

  • who they are,

  • what they do,

  • specialist expertise and

  • examples of client work.

A good biography “sells” their expertise to potential new clients.

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Legal Bistro Elevator Pitch for Lawyers

What is an Elevator Pitch?

An “Elevator Pitch”, also known as an elevator speech or statement, is a short summary used to quickly define a person, product, profession or organization and its Value Proposition.  The name “elevator pitch” conveys that the person who is delivering the message has about the same time that it takes the typical elevator to go from the ground floor the top floor to convince their audience about their proposal.  A well designed elevator pitch should be between 30 and 60 seconds.

How to Write a Good Elevator Pitch

The “Elevator Pitch” on Legal Bistro is five lines (500 words maximum) of text that are displayed to potential clients in what we call the “Short Profile Preview”.  This is the very first thing that a potential client will see about you and your law firm so you should give a lot of thought to what you would like to say.

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Why Consumers Love Legal Bistro

 Do you need a lawyer but are intimidated by the legal process?  Are you concerned that professional legal services may be financially out of reach?  Perhaps English is not your native language and you are having trouble finding a qualified attorney with whom you can effectively communicate.  Don’t worry, if you answered yes to any of these questions you are not alone.

We built Legal Bistro because we were inspired by the contribution that Lending Tree made to the process for finding a mortgage lender.  Lending Tree used the power of the Internet to bring online competition in the mortgage application process. Equally important is that Lending Tree’s website has helped consumers to better understand the process of applying for a home loan. We hope that Legal Bistro can achieve similar results in the legal services market.

When Lawyers Compete, You Win!

The single biggest reason why consumers love our service is because Legal Bistro facilitates lawyers competing online to serve the client.  Our Company motto is that When Lawyers Compete, the Client Wins! Frankly, we believe that both lawyers and consumers win when the competitive playing field has been leveled.

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