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The NL Legal Center for Consumers offers real estate sellers and buyers many different resources to help them avoid legal problems and to become better, more knowledgeable in their real estate endeavors.  Whether you are looking for information on the cost of legal services, the types of legal services we offer, information as to how we can refer you to excellent attorneys and/or law firms to represent you in areas that we do not practice in, articles on legal topics that may be of interest to you, upcoming seminars geared to consumer issues or simply would like to hire an attorney, the Legal Center for Consumers is a great place to start.      
 

 

Articles for Consumers

On this page there are numerous articles that are organized under broad topics that you can access for free!  These articles cover a wide range of topics that face consumers.  Most of the topics come from questions e-mailed or presented to us by people who have run into legal issues.  If you have a legal, ethical or regulatory question, we welcome the opportunity to help provide you some guidance.  If the topic is one that we believe would benefit other real estate sellers and buyers we will publish it on this website.   If you have a question for us, click here. 

Flat Fee Billing Option

Many times the fear of the unknown is worse than what actually happens but the fear is there non-the-less.  One of the biggest fears of hiring a lawyer is,"What is this going to cost?"  Everyone has heard stories of outrageous legal fees or have been involved in a legal situation where the bill ended up much higher than anticipated so there is a basis for that fear.  To help eliminate that fear and to better allow you to budget your legal costs, we try to provide our clients with alternate billing options to the traditional hourly basis.  While we  believe that our hourly rates are fair and we strive to provide our clients with quality legal services at a reasonable cost no matter what billing method you choose, we know that many of our clients prefer to have more certainty in their legal costs so we often will provide you with a flat fee or unit billing option.

A flat fee option is a flat fee for a particular legal service.  If more time is put into providing that service than the flat fee, the client comes out ahead.  If less time is put into providing that particular legal service, the law firm comes out ahead.  In either case, the client knows what the cost is when they hire us.  There are limitations to the flat fee billing option.  The flat fee is for a specific legal service.  If a situation arises that is not expected or within the "norm" for that legal service there will be an extra cost.  While this is rare, it happens on an occasion.  The other factor that can vary are the out-of-pocket expenses.  We do not have control over the out-of-pocket costs that are associated with a particular legal service so those expenses are added to the flat fee legal service fee.  When we are aware of specific out-of-pocket fees we will disclose them to you; however, certain fees are impossible to predict that they will be necessary and/or the exact amount of the cost.

Unit billing is slightly different than a flat fee cost.  In a case where the legal service is to variable to be able to predict a fair flat fee for the entire service, we can often break the over-all case into segments with flat fees associated with each segment.  You pay for the segments that are needed or wanted in your case, and you avoid the fees for the segments that are not required or that you chose not to go forward with.  Litigation or dispute oriented legal cases often use unit billing since it is impossible to accurately predict the exact course of the case. 

We cannot always able to provide you a flat fee or unit billing option, in most cases we can.  We will also always be willing to bill with a traditional hourly billing method.  Please feel free to discuss billing with your attorney so you can make the choice that is best for you.          

 

Nash & Lodge Billing Practices

 

Seminar Schedule

We present many real estate related seminars during the year and while most are directed to real estate professionals, a number of them are also directed to sellers and buyers.  The seminars are presented in plain English - no legalize!  Our speakers are always well-known, experienced real estate professionals.  We try to provide food and beverages at our seminars and conduct them in an informal manner.  By that we mean, we generally allow questions from the attendees so that we can really talk about the issues that you are interested in.
 
To see our list of seminars and our seminar calendar, click here: Seminar Schedule.


Legal Representation

The materials and seminars presented by The NL Legal Center for Consumers are written and the seminars are presented by the law firm of Nash & Lodge, PLLP.  The attorneys of Nash & Lodge have provided legal representation to thousands of real estate professionals since 1999 in transactional and corporate work, litigation, arbitration and regulatory enforcement actions.  You will not find Nash & Lodge in the Yellow Pages because over ninety percent of their clients come from referrals and past clients.  If you need help navigating through the complicated legal issues that real estate consumers face every day, contact an attorney with Nash & Lodge today to establish a lasting relationship with a law firm that will stand behind you in good times and bad and at all times will strive to best protect your interests. 
 
We don't pretend that we can take care of all of your legal needs.  Just like we limit our practice to certain areas so that we can maximize of legal knowledge and experience in those p[articular areas, other lawyers and law firms do the same in their particular areas of practice.  It is important to get the best lawyer for your particular need.  over the years we have developed relationships with other lawyers and law firms that concentrate in areas of legal practice that we are not involved in and would be happy to provide you with a referral to them.  
 
The following shows the areas of our practice and the areas that we can provide a referral for you.  

 

NL Areas of Practice

 

NL Referral Areas

 

Criminal Defense

 

DWI Defense

 

Family Law

     

 

Juvenile Law

 

Medical Malpractice

 

Patent/Copyright Law

 

Personal Injury 

Litigation

 

Social Security Disability

 

Workers Compensation

 


Foreclosure Issues

Foreclosure Posponement:  A New Option for Homeowners
August 8, 2009

A major change to Minnesota foreclosure law became effective on June 15, 2009. Under the newly revised law, the foreclosure sale can be delayed for five months. After the five month period expires, there will be a five week redemption period. This artilce will address who qualifies for a postponement, how you get the postponement and whether the postponement will help or hurt the homeowner.

To read the rest of this article

Foreclosure Update:  Is the Short Sale on the Way Out?
May 2008 

Over the last two years as the credit market has been turned upside down and the numbers of foreclosures keep on rising, lenders have consistently shifted gears when dealing with foreclosures.  In the beginning of the real estate fall, it was impossible to find someone on behalf of a lender who understood what a short sale was much less someone who had the authority to actually authorize one.  Then it became ridiculously easy to get a short sale approved.  As the real estate decline continued the lenders have consistently made it a more difficult and time consuming process to obtain approval of a short sale and then began approving short sales with a release of the mortgage but not of the debt. 

To read the rest of this article click here

Seller Transactional Issues

Rent to Own and Contract for Deeds:  Seller Beware!

Finding a buyer who can qualify for a mortgage to buy your home is a challenge in todays market so many sellers are considering offering buyers seller alternative financing. While there are a number of different options that sellers can make available, you need to make sure that you understand any financing alternative that you will offer a buyer. Each have benefits and negatives that must be considered and applied to your situation. In addition, the exact terms of the financing are extremely important understand. These are not “standard” documents. As the seller you need to have the financing option that you are comfortable with drafted to meet your needs and concerns.

What types of alternative financing is in the market place today? The following are alternative financing options that we will look at.

  1. Rent With Option to Own”, Lease/Option” “Rent to Own”

  2. Contract for Deed”

To read about the positives and negatives of these financing options click here

Buyer Transactional Issues

Rent to Own and Contract for Deeds:  Buyer Beware!

Obtaining financing can be a challenge in today's market so many buyers are looking for alternative financing. While there are a number of different options available, you need to make sure that you understand any financing alternative considering. Each have benefits and negatives that must be considered and applied to your situation. In addition, the exact terms of the financing are extremely important understand. These are not “standard” documents. The documents can easily be slanted in favor of the seller.

What types of alternative financing is in the market place today? The following are alternative financing options that we will look at.

  1. Rent With Option to Own”, Lease/Option” “Rent to Own”

  2. Contract for Deed”

To read about the positives and negatives of each of these options
Bank Owned Property Sales: Who is Protecting the Public from these One-Sided Sales?
March 2008 
 
What would the Department of Commerce or the Attorney General's Office do if they discovered that an investor sold a property "as-is" with respect to the physical condition and title of the property and used a purchase agreement that was binding on the buyer, but not on the seller? And further, the purchase agreement required the buyer to use a title company either owned by the seller, or with whom investor had a close relationship (no disclosure of course). The investor would be labeled as a predator and they would do everything in their power to shut the investor down.....

To read the rest of this article click here

Creative Financing is Back!
December 2007 
 

"Rent to Own", "Lease With Option to Buy" , "Buy on a Contract for Deed" and "Seller Financing" are phrases that are popping up all over. A win-win for sellers who can't sell and buyers who can't buy? It can be but there are many traps for the unaware ......

To read the rest of this article click here

Rent-To-Own Revisited

In our newsletter I previously wrote about various alternative financing options including “Rent-to-Own” agreements*.  In that article I expressed concern as to how they might be used and you could easily find yourself in a situation where both the landlord/seller and tenant/buyer are unhappy and blaming the real estate agent for the rent-to-own that did not work out. Well, the problems are starting to appear.

To read the rest of this article click here

Short Sales:  A New Issue

The only thing certain about short sales is that nothing stays the same. Every time you think you get a handle on the process and the issues, everything changes. A couple of years ago it was exceedingly difficult to get a lender to agree to a short sale (or even understand what it was). Then lenders created loss mitigation departments that never said no to a short sale. Today loss mitigation departments are still there and short sales generally are approved but the approval may not come until the last moment. As the lenders continue to be battered they will continue to change how they do things and new issues will arise.

To read the rest of this article click here

Short Sale Revisited: Avoid the Hidden Bomb of a Short Sale Without a Written Agreement to Satisfy the Underlying Loan

August 2008

In the May, 2008 NL E-mail Update I wrote about a potential change in the short sale marketplace – agents were reporting that Wells Fargo and Countrywide had taken new positions and were refusing to accept any short sales.   At the time, I pointed out that nothing was set in stone when it came to lenders and it remained to be seen whether this was a temporary or permanent change.  Well, the short sale world has not stopped changing.

The “no short sale” position did not seem to last very long* but another issue arose that has created numerous time bombs set to go off at some undetermined time in the future in the face of the unsuspecting homeowners and their real estate agent.  The issue that arose was whether the lender would release the mortgage and satisfy the underlying loan or would only agree to a short sale without satisfying the loan.   In some cases, lenders asked for the borrower to sign a new note for the difference in value between what the lender would be paid at closing and what the lender was owed.  This turn of events has led to an unfortunate hidden time bomb for homeowners and their real estate agents.  A short sale is approved, the closing takes place, everyone leaves the closing smiling until a year later when the homeowner receives the lawsuit seeking the amount still owing on the loan.  The homeowner is stunned ....

To read the entire article click here