At Coates & Davenport, P.C., we provide prompt and efficient legal service to business and residential real estate clients. Our practice in this area includes a broad range of transactions from home closings to industrial development projects. We also resolve difficult problems through workouts, arbitration or litigation.
Representing Buyers And Sellers At All Stages Of Real Estate Transactions
We represent either the buyer or the seller at every stage of a residential purchase transaction, from negotiating the terms of the purchase agreement through closing of the sale. We help resolve problems with title, inspections, old liens and other encumbrances, and financing commitments. We also represent clients at closing to ensure that the parties have fulfilled their obligations, whether buying, selling or refinancing the property. Finally, we counsel and represent clients involved in selling their homes themselves. Known as an FSBO (For Sale by Owner) transaction, we use our in-depth knowledge of Virginia real estate law to protect our clients and ensure that their FSBO sale or purchase goes smoothly.
REO Properties (real estate-owned properties, also referred to as bank-owned properties): Bank-owned homes are properties that have been foreclosed upon (repossessed) by the lending institution after a homeowner has been unable to make his or her mortgage payments. When the bank fails to secure a buyer at the foreclosure sale, it takes the real estate into its bank inventory, thus "bank-owned property."
Coates & Davenport, P.C., can represent the bank by performing the foreclosure; by providing and conducting all title services through our wholly owned title insurance agency; and by representing the bank at its sale of the property to a subsequent purchaser, preparing the deed and all the other necessary seller documents to convey marketable title.
Our experienced real estate attorneys can also represent purchasers of REO, foreclosed properties ensuring the foreclosure process was performed properly, pursuant to Virginia statute and the terms of the Deed of Trust, so that the property can be insured by a reputable title insurance company.
Reverse Mortgages: A reverse mortgage is designed to allow older homeowners the opportunity to take advantage of the equity in their home without selling or moving from their home. It provides a way to convert home equity into monthly income, a line of credit or a lump sum payment to the homeowner, without giving up ownership and without incurring mortgage payments. Our real estate attorneys provide expert settlement services for qualified seniors, by working with the many lending institutions that are qualified to provide the financing for this specialized loan product.
The FHA 203k Rehabilitation/Renovation Loan: Let our experienced real estate attorneys guide you through this exciting rehabilitation loan product, working with an FHA-approved lender, by providing you with our expert settlement and title services for the acquisition and rehabilitation of eligible property. This loan program can also be used to refinance existing liens secured by the property and rehabilitate the dwelling.
Church Real Estate: The acquisition, sale and refinancing of existing liens secured by church property are governed by Virginia statute, pursuant to church polity and in accordance with church doctrine and approval of a church congregation. Our experience with these sometimes complicated conveyances can assist the church Trustees successfully maneuver their way through the many statutory and title requirements to ensure the conveyance is in compliance with the Discipline of the church, Virginia statutes and often the Decree of Court of Competent Jurisdiction.
Representation for all your business problems. Call the respected Richmond business lawyers at Coates & Davenport, P.C., at 804-285-7000, toll free 800-450-8311, or write to us using this online form.
Wholly Owned Title Insurance Company
Our clients are helped by the close working relationship we have with the firm's wholly owned title insurance agency, Interstate Title, LLC. Working with Interstate enables us to deliver our services quickly and efficiently.
Attorneys With Knowledge And Experience In Virginia Commercial Real Estate
In commercial real estate matters, we represent buyers, sellers, developers, contractors, landlords, tenants and property managers. Our clients are involved in projects ranging from the acquisition of an existing office building to the construction of a major subdivision. Our experience and knowledge of local markets helps clients avoid mistakes and maximize their profit. Whether the client is developing a shopping center or needs to re-draft a commercial lease, our law firm can assist.
A Growing Area Of Our Legal Practice
An ever more important part of our real estate practice involves providing residential relocation services to national relocation companies. When you need to purchase a home on behalf of an executive moving into any region in Virginia, or need to sell a home for an employee transferring to another state, we can handle all aspects of the transaction.
Experienced Real Estate Litigators
Our litigation experience in commercial and residential real estate disputes gives clients an advantage when matters cannot be resolved through negotiation or mediation. We handle matters such as breach of a purchase agreement and foreclosure of a mortgage. Our practice in this area also includes collection of rent arrearages in a defaulted commercial lease as well as representing out-of-state lenders, property owners, lessors and sellers in the enforcement of their rights.
Led By An Attorney With 20 Years Of Real Estate Experience
Richmond real estate lawyer Karen S. Peterson heads our real property practice. She uses her more than 20 years of real estate experience to provide our residential and commercial clients with excellent legal representation. As a CRESPA-registered settlement agent, she is active in several state and local professional associations focused on real estate.
To learn more about our experience with commercial and residential transactions and litigation, contact Coates & Davenport, P.C., in Richmond.
