Whether you’re buying or selling a house, land, apartment building, or office space, the hurdles and hurdles you’ll have to face can be overwhelming. For basic transactions, a licensed agent can take care of paperwork and other issues that may arise. But for more complex transactions and even some of the larger ones, it is definitely worth the time and money to hire a real estate attorney. Lawyers who specialize in this area can offer their customers a level of service and security that an agency cannot match. Here are the two biggest reasons why you should hire a real estate attorney.
To Reveal Unknown Problems
When you are in the process of buying or selling property, there are basic questions that most people know to ask. Are there any hazardous or toxic materials such as asbestos? When was the last time the plumbing, electrical wiring, and air conditioning system 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 problems? Is the seller the actual owner of the home, or do they have a long-lost sibling who actually owns half of it? Border disputes, mineral or oil rights, and tax issues are all potential problem areas that a real estate attorney can explore and protect. The seller takes less risk, but it’s still a good idea to keep the advice. If you are reluctant to sell a family home, for example, you may want to know if the buyer is a real estate developer planning to demolish your home to build an apartment complex, as this could change your decision to sell.
If You Buy For Commercial Reason
Buying property for personal use carries a large number of potential risks. But buying one for commercial use, such as rental or commercial space, brings much, much more. One of the main problems for anyone dealing with commercial property is understanding complex zoning laws. You can be categorized for restaurants that sell fast food, but not for seated customers. In this case, you can have customers seated, but you cannot serve alcohol. Maybe you’re categorized to operate as a bar, but that backstage is useless because you’re not categorized for live music. If you are planning to rent out a house or apartment, you will need help drafting a legally binding lease. If you have a bad tenant, you will help navigate the maze of evictions, property damage by tenants, and other problems that may occur. A real estate attorney can help guide you through all of this and more.
A real estate attorney can save you from the stress and anxiety that inevitably comes with big deals. They can help uncover potential problems with your buyer or seller, and even with the property itself. They can also help you deal with any issues related to the commercial use of your new property. Hiring a real estate attorney can save you time and money.
