The following are actual unsolicited written comments from a number of Attorney Riley's clients. Given the strict Attorney-Client confidentiality rules we cannot provide the names of clientele.
★★★★★ "I’ve worked with Attorney Tim Riley for over 10 years. His expertise, advice and results have been terrific! I would highly recommend Attorney Riley and his team to anyone who is looking for real estate transactions."
★★★★★ "Tim, I sincerely want to thank you for your efforts today. Your preparations and cross examination in court were fantastic. I know this isn't a fun case to be working on, but your efforts today really made a difference. Thank you so much."
★★★★★ "I am appreciative of your representation of me, it is nice for a change to feel like someone is in my corner and has my back. I have gone for so long feeling like no one was looking out for my kids and myself."
★★★★★ "You will never know how truly, humbly thankful I am for your help! I thank you from the bottom of my heart. Words could never tell you what my boys and I have been through the past five years."
★★★★★ "Very thorough, well prepared representation. I wish Tim had been my first attorney."
★★★★★ "I honestly don't think words can express my gratitude to you for helping and me. I was so grateful for the information and support that you initially provided. If it weren't for that plus your character, integrity, and values I don't know what would have happened."
★★★★★ "Thank you so much for all you have done for me. You helped me out faster than I ever thought could be possible. I truly appreciate all the efforts you made to help me out and I want you to know I am beyond thankful."
★★★★★ "Thanks!! Super Lawyer Tim."
★★★★★ "I wanted to thank you for helping me out with my placement issues. You were not only highly competent but extremely kind. Your understanding that this is highly emotional was so appreciated."
★★★★★ "I wanted to follow-up and thank you for the time and help with my divorce and real estate situations over the last few months. I especially wanted to thank you for the support when I called out of the blue and you were willing to help me. You've been very generous with your time and advice. It has been a pleasure working with you."
★★★★★ "Thanks for all your help. We appreciate your level headedness and calm professionalism."
★★★★★ "I appreciate all your advice and your knowledge."
★★★★★ "Thanks for all your help I really appreciate it. It takes the edge off all the madness involved in this procedure. It's fun working with you."
Wisconsin Real Estate
The purchase of real property is most often the most complex and largest economic transaction that you will undertake. While there are standard forms that people mistakenly believe cover all issues and that seem straight forward, those forms are not all-encompassing and merely serve as the starting point.
Real estate transactions involve numerous technicalities that can result in significant financial losses. All issues must be considered, including writing the offer, accepting the offer, the real estate condition report, inspection contingencies, survey / use contingencies, deed restrictions and covenants, financial contingencies, and appraisal contingency for the best protection.
Attorney Timothy S. (Tim) Riley was a guest lecturer and teacher for residential real estate at the University of Wisconsin at Madison.
I have represented hundreds of clients in the purchase and sale of homesteads (residential real estate), commercial properties (commercial real estate) and vacant land. I offer a flat fee to represent clients in purchases and sales that includes all services from the offer through closing. My current flat fee is $550 for those services and is detailed in my flat fee retainer.
While the standard form contract is "cookie cutter" in nature, each transaction is unique to the property and the circumstances of the buyer and seller. ¬†As such, the standard offer with the blanks filled in is not an offer that adequately addresses all concerns and not an offer that protects all the interests of the buyer.
There are any number of issues to consider in writing an offer or in accepting or countering an offer received that will impact the ultimate success of the transaction and satisfaction of the client. ¬†Even simple contingencies such as the date of closing can become quite significant when a party is involved in purchasing another property while selling their current property. ¬†If multiple transactions are involved, a seller or buyer must coordinate the contracts and employ safeguard contingencies in the event one of the offers fails.
Wisconsin law requires that a seller of real estate who has occupied
I strongly recommend that any purchaser engage the services of a certified home inspector as part of the transaction. The standard inspection contingency language does not address additional testing, (i.e., radon/lead in older homes, contamination or asbestos issues). ¬†The inspection contingency should carefully address the right to have additional tests or inspections as recommended by the initial inspector. These might include a chimney, roof, electrical, or HVAC specialist as examples.
There are occasions where a survey contingency may be an essential part of the Offer to Purchase. Most commonly, this occurs with larger parcels or vacant land. It is important to note that your title insurance will not insure the lot lines or boundaries of your real property in the absence of a current ALTA certified survey. ¬†If you have a dispute with an adjoining land owner on a lot line after closing, the insurer will have no obligation to defend you in the absence of a survey.
Deed restrictions and covenants are far more common in properties or developments that are newer in nature. However, there are often deed restrictions and covenants attendant to older property. These restrictions and covenants can greatly affect the use of your property. Even something as simple as the desire to construct a fence or paint or re-side your home in a different color can be restricted or prohibited by deed restrictions and covenants. Your offer should always include a contingency for review of deed restrictions and covenants.
It is, of course, always advisable for a prospective purchaser to obtain pre approval from a lender prior to commencing the pursuit of a home purchase. ¬†This is particularly the case given the current economic climate. The financing contingency is of equal importance to the seller and purchaser. ¬†Sellers need to pay attention to the terms of the contingency - not only as to the length but also to ascertain that they have a legitimate and serious prospective purchaser.
While your lender will conduct an appraisal of the home as part of your financing, a separate appraisal contingency affords the purchaser additional protection. ¬†The financing contingency does not require that the home appraise out at the offer price. ¬†By inserting a separate appraisal contingency requiring the home appraisal value is at least the purchase price offered, a buyer can avoid any risk of being committed to purchase a home at a price in excess of a certified appraisal.
We offer representation to both sellers and purchasers in for sale by owner transactions. ¬†
Whether or not a buyer's agent is involved in the offer process, an experienced real estate attorney can offer legal advice beyond the capabilities of a realtor.
Many real estate firms and lenders have relationships with a particular title company. ¬†As a seller, you have the right to choose the Title Insurance Company to issue the policy to the buyer. ¬†This is a relevant factor as you will find different companies charge different rates and fees on the same transaction. ¬†You can save money by making proper inquiry and "shopping" your businesses.
Free Initial Consultation
If I may be of assistance to you and help you with your legal situation, please contact me at 608.833.3880. I will happy to speak with you with no obligation on your part.
"I also believe that when hiring an attorney, particularly with regard to family law, it is essential that a prospective client have an opportunity to meet and discuss their case with that attorney. It is for this reason that I offer a free no obligation one half hour consultation. A client who is going to entrust an attorney with their most personal and important legal needs should have the opportunity to meet that attorney without opening their purse or wallet."
"I also sincerely believe that a client deserves thorough and effective advocacy and representation at a fair and reasonable cost. As such, I have maintained a very competitive retainer and fee schedule over the course of my 23 years of practice."
Timothy S. Riley