Whether you are buying or selling a house, land, apartment building, or office space, the hurdles and hurdles you have to deal with can be overwhelming. For basic transactions, an authorized agent can take care of the paperwork and any other issues that may arise. However, for more complex settlements and even some of the larger transactions, it is definitely worth the time and money to hire a real estate attorney. Attorneys who specialize in this field are able to offer their clients a level of service and security that an agent simply cannot match. These are two of the main reasons why you should hire a real estate attorney.
To discover unknown problems
When you are in the process of buying or selling a property, there are basic questions that most people know how to ask. Are there dangerous or toxic materials like asbestos? When was the last time the plumbing, electrical wiring, and air conditioning systems were replaced? Is there termite damage? These are all physical issues, and a good agent and / or contractor can help you with the basics.
But what about the more complex issues? Is the seller the true owner of the home, or does he have a long-lost sibling who actually owns half? Border disputes, mineral or oil rights, and tax issues are potential problem areas that a real estate attorney can explore and protect you against. Sellers take less risk, however it is a good idea to hire an attorney. If you are reluctantly selling a family home, for example, you may want to know if the buyer is a real estate developer planning to tear down your home to build an apartment complex, as this could upset your decision to sell.
If you are buying for business reasons
Buying property for your personal use carries a host of potential risks. But buying one for commercial use, like commercial or rental space, comes with many, many more. One of the main problems for anyone dealing with commercial property is understanding the complicated zoning laws. It can be zoned for a restaurant that sells takeout, but not for seated customers. In this case, you can have customers seated, but you cannot serve alcohol. Maybe it’s zoned to operate as a bar, but that stage in the back is useless because it’s not zoned for live music. If you plan to rent a house or apartment, you will need help to draw up a legally binding lease. If you have bad tenants, it will help navigate the maze of evictions, property damage by tenants, and any other possible problems. A real estate attorney can guide you through all of this and more.
Real estate attorneys can save you from the stress and anxiety that inevitably accompany large transactions. They can help uncover any potential issues with your buyers or sellers, and even the property itself. They can also help you handle any issues related to the business use of your new property. Hiring a real estate attorney can save you time and money.