Complex Problems You Might Encounter When Buying Or Selling Property And How A Legal Advisor Can Help You Resolve Them
Real estate transactions should ideally be manageable and easy to handle, even without legal help. Even so, working with an attorney is always advisable when buying or selling property. They evaluate sale agreements and other documents to ensure they are legitimate. In addition, your lawyer will help you navigate the following complex issues you might encounter when buying or selling property. This will go towards facilitating a smoother transaction and prevent you from losing your hard-earned cash.
Whenever you're purchasing property, the seller must have all ownership documents, including a title. Once they provide the documents, your lawyer will examine them and contact the relevant departments to ensure that the seller is the rightful property owner. If they find that this is not the case, your attorney will advise you not to continue with the deal. They will also discourage you from purchasing a property from any seller with a defective title. For example, the title might have a lien, typing errors, mistakes in recording the deed, etc. In such cases, your legal advisor will likely advise you to only buy the property after the seller has corrected all defects.
You may encounter complex issues when buying property located in less developed areas. For instance, the land you plan to purchase might be connected to a country road by a driveway or path that is not legally part of the property. So, if you purchase such a property, you may have problems accessing it. If you encounter this issue, hire a lawyer to assist you in getting the legal tools that will enable you to access your land.
Sellers are required to disclose to buyers all defects that might affect the property's value. If they don't do this, you have grounds to sue them if, for instance, you buy a damaged house. However, these claims can be challenging to prove, so hiring a lawyer to represent you is prudent. They will start by investigating your case and collecting evidence to prove that the seller violated the law by not informing you that their property was defective. For example, they might refer to the disclosure statement to show that the seller had not listed the defects on the document.
If you encounter any of the issues above when buying property, hire a real estate lawyer to help you maneuver them. The legal practitioner can determine the steps needed to protect you from losing money. They can also take measures to fast-track the purchase process and enable you to get a favorable outcome.