Whether you are buying or selling a house, land, apartment building, or office space, the hoops and hurdles you have to deal with can be overwhelming. For basic transactions, a licensed agent can take care of the paperwork and any other issues that may arise. Even for more complex deals and even some of the larger transactions, it is definitely worth the time and money to hire a real estate attorney. Lawyers who specialize in this field can offer their clients a level of service and security that an agent simply cannot match. Here are two of the biggest reasons why you should hire a real estate lawyer.
To Uncover Any Unknown Problems
When you are in the process of buying or selling a property, there are basic questions that most individuals know to ask. Are there any dangerous or toxic materials such as asbestos present? 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 more complex issues? Is the seller the true homeowner, or do they have a long lost sibling who actually owns half? Border disputes, mineral or oil rights, and tax issues are all potential problem areas that a real estate attorney can explore and protect you against. Sellers incur fewer risks, yet it is still a good idea to retain counsel. If you are reluctantly selling a family home, for example, you might want to know if the buyer is a real estate developer who plans to knock down your house to build an apartment complex, as this could alter your decision to sell.
If You Are Buying For Commercial Reasons
Buying a property for your own personal use carries a large number of potential risks. But buying one for commercial use, such as a rental or commercial space, carries many, many more. One of the major issues for anyone dealing with commercial property is understanding complicated zoning laws. You can be zoned for a restaurant that sells to-go food, but not for sit-down customers. In this case, you can have sit-down customers, but you can’t serve alcohol. Maybe you are zoned to operate as a bar, but that stage in the back is useless because you are not zoned for live music. If you plan to rent out a home or apartment, you will need help drawing up a legally binding lease. If you have bad tenants, you will help navigate the maze of evictions, property damage by renters, and any other possible issues. A real estate attorney can help guide you through all of this and more.
Real estate attorneys can save you from the stress and anxiety that inevitably comes with large transactions. They can help uncover any potential problems with your buyers or sellers, and even with the property itself. They can also help you handle any issues involved with the commercial use of your new property. Hiring a real estate attorney can save you time and money.