Buying real estate can be a great long-term investment. Whether you are going to purchase your primary residence, a vacation home, or even an investment property, real estate has typically been a good option.
What Does a Real Estate Lawyer Do
While there are a lot of advantages that come with buying real estate, there are some legal complexities that go into each transaction that you enter into.
Due to this, having a real estate attorney by your side when purchasing real estate is very important.
A real estate lawyer can provide a range of services that can help ensure you make a wise purchase decision that is properly structured from a legal perspective.
Draft and Negotiate Purchase and Sale Agreements
One of the main services that a real estate attorney can provide is to draft, review, and negotiate purchase and sale agreements. While many cities have standard purchase and sale agreements for residential real estate, more complicated transactions will require more substantial agreements.
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These agreements will spell out a variety of terms including the purchase price and other considerations, the scheduled closing date, conditions to close, and tasks that need to be completed by all parties prior to the final purchase date.
The attorney will review the document to ensure it is fair and places you in a good position. They can then handle negotiations with the other parties if disputes arise.
Review Other Real Estate Documents
While the purchase and sale agreement may be the first document that is negotiated, there are other real estate documents that need to be reviewed as well. The attorney can help by reviewing your mortgage and other bank loan documents, the title report, and other documents that arise.
This will ensure that you are entering into a property that has a clean title and that the mortgage has fair terms that align with what you were expecting to receive. If there are issues with the title or the real estate documents, the attorney can help to ensure that all issues are replaced and cleaned up prior to the close date.
Ensure Plan for Asset Conforms to Zoning
If you are purchasing a property that you intend to hold as an investment property or want to redevelop, it is important to confirm that your business plan will be permitted. The vast majority of real estate is located within designated zones that will determine what the property can be used for.
This could impact your ability to convert a property to a rental unit, complete a certain level of renovations, or change the use of the building. Your attorney will be able to carefully review the zoning reports ensuring the local ordinances will permit your business plan. If not, they can work to receive an approved variance before you close on the purchase of the property.
Handle Disputes in Court
The vast majority of real estate transactions will end up going smoothly. However, there are situations when something could arise that is unexpected during the negotiation process or after the sale is complete. This can include if items that should be disclosed by the seller were not disclosed or if the other party in a transaction is not following their part of the agreement.
If these matters cannot be handled outside it, the situation may need to go through the formal civil court process. When this occurs, your lawyer will handle this process for you including presenting and deliberating your case.
Future Real Estate Attorney Needs
After you have purchased the property, you may need a real estate attorney’s support in the future as well. There are many situations in which a real estate attorney can help ensure that you are properly represented.
An attorney is frequently involved when it comes to disputing property lines with neighbors, appealing proper taxes with local taxing authorities, applying for zoning variances, or even when you are going to refinance your mortgage and need to have new documents reviewed.
When it comes to planning for your future and your estate, your real estate could be the largest asset that you will want to pass down. When you are planning your estate, a real estate attorney can help with this part of the process as well.
This will ensure that the necessary estate preparation documents have all the necessary information to properly document what will happen to your real estate holdings if you were to pass away. The attorney can also help by establishing trusts and other documents if you need to transfer real estate ownership.
If you are interested in purchasing any type of real estate, it is very important that you have an attorney by your side. For those that are in the area, a Plantation real estate attorney can offer a range of services that can help ensure you make a wise purchase decision.
This will include ensuring all legal diligence and documents follow best practices and that you are aware of any risks that could come with your purchase. The real estate attorneys with Carlos M Amor P.A. can offer a range of services that will give you confidence that you are protected, and your rights are represented.
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