Most buyers turn to a real estate agent to help them negotiate the best price. However, it appears that fewer people are hiring a lawyer to represent them as buyers when looking for a home. Here are a few instances where hiring real estate attorneys in your state will make the process a lot easier.
Vacation and rental properties can be incredible investments. In other words, as long as you do your due diligence before and during the purchase. Part of this due diligence is looking at local laws governing landlord-tenant relationships. Once you have good tenants in your rental, problems can still arise. Your real estate agent won’t be of much help in this case. You need to have a relationship with a qualified and experienced real estate lawyer to help you overcome these obstacles.
Land and lots
When you buy land, work with a developer, or build a custom home on the land you have purchased. There are specific land purchase issues that you are more likely to encounter. Some of these issues include improper zoning, title errors, environmental hazards associated with the property, or planned development or roads. You can fix some of these things, but others can get you to stop and buy the lot, so speaking with a lawyer is essential.
A short sale is defined by someone selling their home for less than what they owe on the mortgage. It is imperative in any of these transactions that you work with both a real estate agent who is experienced in the short sale process and an experienced real estate lawyer. Otherwise, the lender could sue you after closing to recoup the loss of the sale or to negotiate a repayment. This doesn’t happen often, but when it does, the process is complicated and fraught with pitfalls.
You’ve probably heard a lot about how buying a home from foreclosure means you can get into your dream home for a remarkably low price. However, more than with any other home purchase, buying a home in foreclosure carries additional risks. In some cases, the owner has a certain amount of time to redeem it. The house can also have privileges over it. Work with a lawyer to make sure these are not issues that are closed.
At any moment
There are issues that can arise during closing or during a home inspection that are actually the best lawyers to deal with. For example, if you come to the close of closing and never realize that the next door neighbor to the property you are purchasing has a fence built on their land, an agent may not realize it. A lawyer, on the other hand, will likely analyze the legal description and help you resolve these important issues.
You do not need to purchase a foreclosed home or a short sale home to benefit from hiring real estate attorneys in the country when making your purchase. A lawyer can facilitate the process every time you buy a home.