Real Estate Law
Whether you are buying or selling a home, in a real estate law dispute, or contemplating a real estate transaction, it is important to know your rights and have them explained to you by a real estate lawyer. Real estate law encompasses a broad range of issues in relation to property law that you may have never thought about before such as, easement disputes, foreclosures, injuries, property taxes, neighbor relations, property deeds, real estate warranties, different types of mortgages, insurance, and issues related to buying and selling real estate. You will likely have several questions you need answered and an experienced real estate attorney can help you.
Buying Real Estate / Property
Purchasing a home will likely be one of the largest financial transactions of your life. Issues can arise at all stages of home buying. Deciding where to live may be the first question to answer, but make sure you know how to pay for your new home, how to make an offer, and how much should your offer be. Also, the house should be inspected, deed prepared, and repairs made all before the closing. It is important that you have protected yourself before you sign any final documents. You should know what you are buying, all the good and bad about it. Make sure you know the answers to potentially damaging information such as:
- Are there any zoning violation issues with the property?
- Are there present or past environmental hazards a problem on the property?
- Are there covenants or restrictions on the property that would limit my use of the property?
- Will my mortgage change over time? Can I afford to make all the payments over time?
- Are there potential issues with the chain of title to the house that may interfere with my full ownership of the property?
- Is the property value estimate accurate?
- What are / can I afford my real estate taxes?
Owners can protected themselves from these issues and others, by taking the time to find all the information about buying real estate and discussing any potential problems with a real estate lawyer.
Real Estate Law Disputes
Disputes over real estate are not limited to the typical disputes with transaction process such as those associated with buying and selling property like construction contracts, defects, title, and deed problems. However, a whole range of disputes can occur in other aspects of property law such as boundary disputes, injuries on property, trespass, nuisance, and encroachment. Disputes are especially common when a homeowner can no longer make their mortgage payment(s). Although it can vary depending on the terms of the mortgage agreement, a mortgage lender may foreclose on the property if the homeowner fails to make payments. Foreclosure will generally involve the lender repossessing the home and re-selling it to another property buyer. Foreclosures will involve a lot of legal procedures that a real estate attorney can help you with. Depending on your state, you may be able to stay in your home until the foreclosure is complete. A real estate attorney may even be able to help you work with your mortgage lender to prevent your property from entering foreclosure. If you are faced with a foreclosure or any other real estate dispute, it is advisable to speak with a real estate attorney.
Why Should I Hire A Real Estate Lawyer?
Real estate transactions will likely be one of the largest and most important purchases of your life that is why hiring a real estate lawyer is advisable. Whether you are buying, selling, or dealing with some other real estate transaction, a real estate lawyer can help you. There are many people involved at various stages in real estate transactions or disputes. Any one of them can make a mistake, potentially costing you a lot of time and money, and potentially your property. For example, if you are purchasing a home that is discovered to have an illegal unit or addition, tenants in residence, or if problems exist with the title to the property, you will likely have to take some legal action to remedy the situation. To avoid bias opinions, you should NOT rely on legal or real estate advice from the seller or one of the agents of the property (even if they are also an attorney). A seller or an agent makes money when the property is sold; your best interest may not be in their best interest. It is important to have a real estate attorney, who is only looking out for your concerns, review all real estate documents for accuracy and for your protection. Real estate law can be a complicated and time-consuming experience, a real estate lawyer will be able to help you navigate through property law.