Buying Real Estate or Property

One of the largest financial transactions you will ever make in your life is the purchase of a home or property. There are many potential issues that may arise at any stage of this transaction.  Your mind may be flooded with questions about location, mortgage, offers, home inspections, deeds, closings, etc.  Make sure you are protected before you sign the final documents.  You need to ensure you know what you are buying, including all of the positive and negative aspects of the home.

Make sure you are aware of potential issues such as these:

• Zoning violation issues with the property

• Present or past environmental hazards on the property

• Any covenants or restrictions on the property that would limit your use of the property

• Changes to your mortgage over time.  Can you afford all of the payments over time

• Potential issues with the chain of title to the house.  Will it interfere with your full ownership of the property?

• Accuracy of the property estimate

• Are the real estate taxes affordable?  

• What are the real estate taxes?

Real Estate Disputes

Real estate disputes can occur with any type of transaction. They are not limited to typical disputes during the transaction process such as buying and selling property including defects, titles, and deeds. Disputes can occur in a broad range of property law areas such as boundary disputes, injuries on the property, trespassing, nuisance, and encroachment. Disputes can be common when a homeowner is unable to make their mortgage payment(s).  A mortgage lender can foreclose on a property if the homeowner fails to make payments, though it may vary depending on the terms of their mortgage agreement.  A foreclosure involves the lender repossessing the home and then reselling it to another property buyer.

Foreclosure involves a lot of legal procedures that a knowledgeable real estate attorney can assist with.  Depending on state laws that govern your property, you may be able to stay in your home until the foreclosure process is complete.  

An experienced real estate attorney may help you work with your mortgage lender to prevent your property from entering foreclosure.  It is advisable to consult with a real estate attorney if you are faced with foreclosure or another real estate or property dispute.

Why Use A Real Estate Attorney?

It is advisable to hire a knowledgeable and experienced real estate attorney for any real estate transaction.  These complex transactions are most likely the largest and most important purchases of your life.  A real estate attorney can help you, whether you are buying, selling, or dealing with another type of real estate transaction.

Many people are involved in various stages of real estate transactions or disputes.  Anyone can make a mistake, which has the potential to cost a lot of time and money, not to mention the property in dispute.  For example, if you are purchasing a home and it is discovered that it has an illegal unit or addition, tenants in resident, or there is an existing problem with the title to the property, you will most likely need to take some legal action to remedy the situation.  Do NOT take possible biased legal or real estate advice or opinions from the seller or one of the agents of the property, even though they may also be an attorney.  

The seller or the agent makes their money when the property is sold.  What is in your best interest may not be in their best interest of the seller.  You need a real estate attorney by your side who is looking out solely for your concerns and protection and will review all the real estate documents for accuracy.  A knowledgeable and experienced real estate attorney will be able to assist and guide you through property law, which can be complicated and a time-consuming experience.