Whether you’re selling or buying a house, apartment building, land or office space, the struggle of closing the deal can be stressful and overwhelming. For some basic transactions, a licensed and seasoned agent can take over of the paperwork and several other issues that may occur. Yet, for more complicated deals and some major transactions, it is without a doubt worth of your money and time to commission a real estate lawyer.
Lawyers who are specializing in this field of law offer security and a certain level of service that a regular agent can’t match. Here are the two biggest reasons why you must consider hiring such professional.
Reason number 1. Uncovering Unknown Problems
When you’re currently in the process of selling or buying a property, there are basic questions that many individuals would want to know. Are there toxic or dangerous materials present in the property like asbestos, when was the last time the electrical wiring, plumbing as well as AC systems were replaced, is there termite damage and so forth. These are just some of the physical issues in a property and a good contractor and/or agent can help you get through the basics. Learn more about real estate planning lawyer
But what about complicated and more serious problems? Is the house seller the real owner or do they have long siblings who owns the half of the property? Border disputes, oil or mineral rights as well as tax issues are some of the possible issues that a real estate lawyer can deal with and provide protection too. Sellers are incurring less risks yet, it’s still a great idea to get their counsel. If you’re reluctant of selling the house for instance, you may like to know if the homebuyer is a real estate developer who is planning to knock down the house to make way for better buildings like apartment complex, condo etc. because this can affect your decision whether to sell the house or not.
Reason number 2. Buying for Commercial Reasons
Buying a property for personal reasons carry a big number of risks but buying for commercial use similar to commercial or rental space is twice as more. Among the biggest issues for anyone who is dealing with commercial property is to understand complex zoning laws. You may be zoned for a restaurant fit to sell to-go food but not for a sit-down customers. To the uninitiated, this is something that can stop them from their investment but if you are backed by a professional real estate lawyer, they can provide assistance to know what actions you should take to pursue with your plans.