Residential Real Estate Transaction Attorney
Generally, residential real estate transactions include the following parties: the buyer of the property, the seller of the property, the property inspector, the title company, and perhaps a real estate agent.
Although hiring a real estate attorney is not mandatory in real estate transactions, a reliable legal representative provides value and could be critical to your real estate property endeavor.
Some of the situations when a real estate attorney can provide value to your real estate transaction are as follows:
First-Time Home Buyer and Home Loans
Buying a real estate property is a significant commitment that involves hours of research and substantial financial obligation. Residential real estate transactions purchased through loan assistance involve complicated language and forms that a typical buyer may not be familiar with.
As an experienced real estate firm, our lawyers can guide and help you understand the legal terms included in the documents that bind you and your investments.
Negotiating Real Estate Contracts
After both parties accept the real estate transaction offers, contracts are typically drawn up. However, numerous contract issues could arise, including, but not limited to: if one of the parties breached the contract, if the contract language deems it impossible or inadequate, thus making the agreement illegal; or if the parties are not suitable to enter a binding contract.
In these situations, we could assist you in understanding the contract language, negotiating with the other parties’ representatives, and ensuring that the contract you are entering is valid under the law.
Property Title Implications
Another legal aspect of real estate transactions where issues may arise is in property titles.
In real estate, a property title is a legal document that states the right to property ownership. Numerous property title issues may arise. Some of these issues may include: missing, inconsistent, or inaccurate information about, but not limited to owner name, property location, liens, leases, easements, acreage, or property borders, deed restrictions, Home Owner’s Association terms, or other interested parties that are needed to be part of the transaction.
In these situations, our reliable real estate lawyers can assist you in addressing and resolving these issues and advise you on the implications of these matters to your interest.
Being a Party to a For Sale By Owner Property (FSBO)
In today’s real estate landscape, it is not unheard of for parties to enter into residential real estate transactions without the assistance of a real estate agent. Here, the seller takes over the real estate agent’s role in selling the property. Although there are advantages to these situations, there are numerous disadvantages to being a party to FSBO transactions. A critical drawback of not having a real estate agent to rely on in these transactions is not having a knowledgeable person to ensure that the transaction is fair and serves as a resource if any questions or disputes arise.
Thus, having a well-informed real estate lawyer could provide valuable assistance and guidance to ensure that your interest is protected in these types of real estate transactions.
Being a Purchaser of a Foreclosed Property
A foreclosed property is a real estate property where the homeowner failed to fulfill their mortgage payments. Thus the lender attempts to recoup their investment in the property by selling it at a discount.
Unlike typical real estate transactions, foreclosed properties generally involve the courts. They are typically subject to restrictions, so the help of an experienced real estate lawyer is valuable as they can assist their clients in navigating the requirements and conditions of purchasing a foreclosed property.
Contact Shawn Bolger Ltd.
Our firm offers free initial consultations. We charge standard and reasonable legal fees for all services that we offer. Call us at (855) 316-8045 or contact us through our website: shawnmbolgerlaw.com.