Feeling Committed

Feeling Committed Commercial real estate buyers using financing to acquire property often find themselves in limbo. Buyers are often required to spend substantial sums chasing a property (and assume a fair amount of risk) before knowing that their lender is absolutely committed to funding. Unfortunately, this market is not kind to financing contingencies (especially when … More Feeling Committed

BREAKING NEWS: Arizona’s Newly Expanded Anti Deficiency Protection

BREAKING NEWS: Arizona’s Newly Expanded Anti Deficiency Protection  In a move sure to cause shockwaves in the Arizona mortgage lending community, the Arizona Court of Appeals expanded Arizona Anti Deficiency Protection (under A.R.S. §33-814(G)) to protect borrowers whose property is foreclosed upon even while it is still under construction, so long as they intended to … More BREAKING NEWS: Arizona’s Newly Expanded Anti Deficiency Protection

Playing With Fire

Playing With Fire Our dear friends at regional banks, commercial lenders and life insurance companies are making new commercial real estate loans. In recent months, Stein Law has closed several new financing transactions. But we have also witnessed a more concerning trend – borrowers getting strung along by lenders or brokers only to be left … More Playing With Fire

REO Purchases: Not Taking “As-Is” For An Answer

Weighing rockbottom prices against potential risk is always a delicate dance. Purchasers of Real Estate Owned (REO) properties are repeatedly told the deals are “as-is” and that the seller will provide only limited (if any) representations and warranties. REO sellers (typically the lender that foreclosed upon the property) posit that they cannot give extensive information … More REO Purchases: Not Taking “As-Is” For An Answer

Room For Improvement

Room For Improvement New space being leased in any office, retail, or industrial property will need to be tailored for a particular tenant.  Alternations can range from relocating interior walls or partitions to full blown construction with all the trimmings.  Like most lease issues, deciding who will bear the costs associated with the build-out and … More Room For Improvement

Clean Up Time

Clean Up Time           It has been said that “real estate got us into this mess, and real estate will get us out of it.”  Quite a mess indeed and, for many, it is now clean up time.            Valley home prices have risen for the fourth month in a row, and sales have been … More Clean Up Time