Mr. McFarlin was interviewed for this project and is quoted in the piece regarding the lease-to-buy option when it comes to real estate, McFarlinLaw.com reports
Real Estate Law Firm in Irvine, California so the company knew they could count on him to provide solid advice to its readers. In fact, Mr. McFarlin's law firm is considered to be the best foreclosure defense and mortgage litigation firm in California.— When Bankrate recently did an article on the lease to buy option for real estate, it opted to turn to Timothy McFarlin for assistance in creating the material. Mr. McFarlin owns a
"Our law firm is known for securing results that are beyond optimistic expectations in many cases. However, the goal is to ensure individuals don't need our services in the first place, which is why I wanted to share my knowledge of lease-to-buy contracts with Bankrate and its readers. Individuals need to understand the deal of the structure and more to be certain they are getting a fair deal," Timothy McFarlin, a Civil Litigation Attorney and founder of McFarlin LLP, explains.
Individuals should consider all options before agreeing to a lease-to-buy arrangement. There are steps that may be taken to increase the renter's likelihood of being approved for a conventional loan, for example. The goal is to find the right solution for all parties to ensure the goal of homeownership is achieved by the buyer while the seller gets a fair market value for the residence.
"Furthermore, renters need to have a home inspection conducted before they enter an arrangement of this type. While this is an expense a person may wish to avoid, it is necessary. Nobody wants to discover they are purchasing a property with numerous issues that they are now responsible for correcting. Sadly, this happens more than people are willing to admit," McFarlin continues.
In addition, when drafting this agreement, both parties need to determine who will be responsible for what expenses when it comes to the property. Renter's insurance and landlord's insurance are crucial and need to be included in the contract. Furthermore, it must be determined who will pay for repairs, maintenance, and more. Unlike a traditional real estate purchase, both parties have a vested interest in the residence and need to know where they stand at all times.
"I am thrilled to have been a part of this project. For years, I have worked to help those in need and will continue to do so in the future. Whether you are in need of a Civil Bankruptcy Lawyer, require help with a real estate matter, or wish to speak to someone about civil litigation issues, give the office a call. We are ready to help in any way we can," McFarlin declares.
About McFarlin LLP:
McFarlin LLP provides legal services to small to mid-sized businesses & property owners in California. Experienced in business litigation & real estate litigation. McFarlin LLP has a renowned bankruptcy and foreclosure defense practice, including bankruptcy litigation, which serves individuals, corporations and property owners. McFarlin LLP is regarded as the preeminent foreclosure defense and mortgage litigation firm in California, securing results beyond optimistic expectations in many cases.
Name: Timothy McFarlin
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Organization: McFarlin LLP
Address: 4 Park Plaza, Suite 1025, Irvine, CA 92614
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