Real Estate Law and Transactions Residential and Commercial Real Estate Transactions Real Estate Investor Representation Title Insurance I.R.C. Section 1031 Tax-Deferred Exchanges Title Disputes and Mechanic's Liens Contracts and Leases Landlord and Tenant Law Other Matters Real Estate Transactions: I handle all aspects of real estate transactions for both buyers and sellers, including preparation of contracts, deeds, leases and other necessary documents, ordering title searches, surveys and insurance, and working with lenders on all other requirements for closing.  My experienced and attentive staff handles the processing aspects of real estate transactions, but I am always personally accessible to clients, real estate agents, lenders and others who are involved in the process.  You can be assured that your transaction will receive my personal attention. Contracts and Other Documents:  Prior to signing a proposed real estate purchase/sale agreement, I recommend having it reviewed by an attorney.  I can provide that service in a timely manner.  If you are buying or selling real estate without using a real estate agent, I can prepare the purchase/sale agreement and related documents based on the price and other terms that have been negotiated between the parties.  See my list of fees.  Selling Real Estate:  In order to sell real estate in Virginia, you must have a deed prepared by an attorney.  The deed and several other necessary documents are usually prepared a short time before closing as soon as I receive the title report from the buyer’s attorney or settlement agent.  If any title defects are discovered, we will address them promptly to ensure that closing occurs on time.  Finally, at the time of settlement I will review the closing statement (HUD-1 form) and go over it with you to ensure compliance with the contract.  If you would like me to handle your sale, simply fill out Seller Closing Information Form and fax or e-mail it to my office along with a copy of the signed purchase/sale agreement.  We will contact you upon receipt of the form.  See my list of fees.  Buying Real Estate:  After receiving a fully signed purchase/sale agreement and completed Buyer Closing Information Form, we order a title search, title insurance and survey, if necessary, contact your homeowner’s insurance agent, and work with your lender to satisfy all of their requirements for closing.  If your home inspection or title search reveals any problems with the property I will work with you and the seller to resolve those problems.  If you would like me to handle your closing, simply fill out the Buyer Closing Information Form and fax or e-mail it to my office along with a copy of the signed purchase/sale agreement.  We will contact you upon receipt of the form.     Title insurance:  When you buy real estate, the seller generally guarantees that you will have full title and legal ownership of the property.  Sometimes a hidden mistake in a prior deed, will, or mortgage may give rise to a legal claim against your property.  Title insurance provides protection against loss caused by such a mistake or by a lien or judgment.  Mortgage lenders require title insurance to secure their interest in your property.  The premium is based on the mortgage amount.  Owner’s title insurance gives you protection up to the price you pay for the property.  Enhanced owner’s insurance provides additional protection against other claims, such as mechanic’s liens, that may surface after closing.  We can arrange for title insurance for any residential or commercial transaction through River City Title. T. Andrew Lingle is a 25% member of River City Title, LLC, the title insurance agent which provides title insurance or other services in connection with most real estate closings handled by this office.  There is no requirement that you use River City Title to provide title insurance as a condition of our handling of your closing.  However, the advantage to using River City Title is that your transaction will receive priority and personal attention.  Unless otherwise specified, title orders will be placed with River City Title, LLC.  Real Estate Investor Representation:    Real estate investing has become a thriving industry in Virginia. While there is significant profit potential in real estate investing, there are also many potential liabilities that investors should be aware of. Much of my real estate closing practice is comprised of transactions for real estate investors who are involved with high volume buying and selling, rehabilitating real estate and dealing with distressed properties and foreclosures. I handle many non-traditional transactions that many attorneys, even experienced real estate attorneys, do not handle, including land trusts, long- and short-term lease/options and assignments of lease/options, "subject to" purchases, seller financing, and installment land sale (contract for deed) transactions. My staff and my affiliated title company are accustomed to these transactions, so we can provide a smooth closing even under difficult circumstances. If you are a real estate investor in Virginia I am confident that I can help you improve your business with my knowledge and experience in this area. I.R.C. Section 1031 tax-deferred exchanges:   When property that is held for productive use in trade or business or for investment purposes is sold, it may qualify for the deferral of capital gain. This is a very valuable tax and estate planning tool. However, the sale contract must provide for the exchange and the seller must comply with the specific requirements of Section 1031 of the Internal Revenue Code. The proceeds of the sale must be held by a Qualified Intermediary, and the seller cannot actually or constructively receive any of the exchange proceeds. A replacement property must be designated within 45 days of the closing on the relinquished property, and the replacement property must be closed within 180 days of the closing on the relinquished property. I often serve as Qualified Intermediary for these transactions, or if I close the sale or purchase transaction (in which case I am disqualified from serving as the Qualified Intermediary) I work with the Qualified Intermediary to complete the exchange in accordance with IRS rules. This is a general overview of the 1031- exchange procedures. You should consult with your CPA and contact me to discuss the details of the proposed transaction before attempting to do a 1031 exchange. I work with a number of CPAs, financial advisors, and real estate agents in handling exchanges. Title Disputes and Mechanic's Liens:   Because of the number of investor and non-traditional closings I handle, I am often called upon to resolve title disputes and to clear title defects. We frequently encounter unreleased liens, judgments, erroneous deeds, property line encroachments, incapacitated sellers, defective documents and many similar problems. My staff and my affiliated title company are very effective at resolving these problems at a reasonable cost. Mechanic's lien law in Virginia can be a minefield. I have handled many mechanic's lien cases for contractors and have defended lien cases for property owners. Contracts and Leases:   In addition to drafting and reviewing commercial and residential real estate contracts, I frequently review and draft both residential and commercial leases and related documents.   If you are leasing property it is imperative that you develop a consistent and reliable lease. I strongly recommend against the use of generic lease forms that are not specifically geared to Virginia.  All of the documents I draft are customized to the specific transaction I am retained to handle. Landlord and Tenant Law:   In addition to drafting and reviewing commercial and residential leases and related documents, as described above, I handle landlord and tenant disputes, including evictions.  If you become involved in a lease dispute it is important to have attorney involvement as early as possible in the process.  If you need to evict a tenant, that process can drag out, resulting in the loss of rental income and/or damage to your property.  If you are subject to the Virginia Landlord and Tenant Act you will most likely need an attorney to make sure that you are in compliance with the Act when evicting a tenant.  Commercial landlord-tenant law is quite different from residential law. If you become involved in a commercial lease dispute, either as landlord or tenant, you should consult an attorney as soon as possible OTHER MATTERS:   If you need assistance with a matter that is not specifically covered by the content of this web site, please contact me. If I cannot handle the matter I will try to assist you in contacting an attorney who better suits your needs. I have referral arrangements with attorneys in several other areas of practice, including personal injury, workers' compensation, bankruptcy, insurance and traffic or criminal.