Residential Real Estate Attorneys
You have a lot at stake whether you are in the market for a new house, offering your property for sale or trying to save your home from foreclosure. The law firm of Faith, Ledyard & Faith, PLC, represents homeowners and homebuyers in all of these scenarios.
Our knowledgeable real estate attorneys can protect your interests on either side of a residential property transaction. We also represent owners in negotiations with lenders to rework their loans or walk away from a mortgage.
Board-Certified Real Estate Specialist
Attorney Paul J. Faith and attorney Michael P. Faith are certified as specialists in real estate law by the State Bar of Arizona. Paul also has more than 40 years of knowledge and experience, which he will use to help you protect your investment, avoid common pitfalls and make informed decisions. Our firm regularly advises and represents clients in all types and all facets of residential real estate transactions:
- Drafting and review of purchase agreements
- Title review, inspections and other due diligence
- Disclosures and representations of sellers
- For sale by owner (FSBO) transactions
- Purchase of short sale or bank-owned properties
In the current marketplace, inventory is way down, but prices are still deflated, which often means multiple bidders are competing for available homes. If you are buying a home, do not be tempted to rush into a deal without legal counsel. Our attorneys can identify any red flags, advise on purchase terms and make sure that your transaction goes as smoothly as possible all the way through closing.
If you are selling, we can protect your interests regarding defects and disclosures, financing commitments, counteroffers, contingent offers, breach of transaction and other issues that may arise.
Solutions For Distressed Mortgages
If you are underwater on your mortgage or struggling to keep up with the house payments, our real estate lawyers can help you explore your options:
- Loan workout or loan modification: We can negotiate with your lender for an extension or new loan terms.
- Short sale: If it is not feasible to keep your home, we can negotiate with your lender to sell the home for what the market will bear in exchange for walking away from the mortgage and any deficiency.
- Foreclosure: The traditional court foreclosure process takes up to 18 months, which may buy you time to catch up on arrears and redeem your mortgage. We can explore your possible defenses against an unlawful foreclosure.
- Trustee sale: In Arizona, the bank or mortgage company may initiate an accelerated process by setting a Trustee’s auction of your property for the 90th day after default. We can help you determine the best method to save your home, including analyzing reinstatement issues and other methods to postpone the foreclosure sale.
- Anti-deficiency: Arizona law protects homeowners in certain circumstances from additional financial liability to the mortgage company when a home is foreclosed. We can analyze your financial exposure if you are considering a foreclosure on your home.