Top 10 Reasons To Consult A Real Estate Attorney BEFORE You Buy Property

TC Edge

In all likelihood, buying real estate will be one of the most expensive purchases you’ll make in your lifetime. Whether it’s piece of vacant land, a rural property, a single-family home, a condo, or a commercial building, the investment could be fraught with risk. Below are the top reasons to consult a real estate attorney…

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Reasons To Use A Real Estate Attorney For Your Next Transaction

Attorneys owe clients an ethical duty to protect and defend a client’s legal interests. Ethical duties owed by attorneys to clients are memorialized in a set of rules in every State. Find these rules at your State bar’s website. Search for “Rules of Professional Conduct.” It should be available for download. Readers shouldn’t be surprised…

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Real Estate Agents and Property Managers in Idaho

Idaho statutes are clear regarding a real estate agent’s obligations when representing a buyer or a seller. These statutory agency requirements are spelled out in a pamphlet that is required to be given to residential purchasers only. As is the case in other jurisdictions, allowing a real estate agent to represent both buyer and seller can…

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Legal Due Diligence For Real Estate In Idaho

The Paperwork: The primary types of paperwork affecting the purchase of real property are documents found in the public record as listed in your preliminary title report, and any private equitable servitudes, conditions, restrictions, or rules and regulations governing the parcel’s use. Title Report I. Idaho residential purchase and sale agreements do not typically require disclosure…

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Buying Property Outside a Municipality in Idaho

Within municipalities with zoning for residential platted subdivisions, easements are typically referenced, access by public or private road is required, zoning is well-defined, and water, sewer, and power are usually provided. Buyers typically do not have problems with real property purchases of this type. Outside of a municipality, the following is a guide for performing due…

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Real Estate Agents and Property Managers in Washington

Real Estate Agents. Washington statutes delineate a real estate licensee’s obligations to a buyer or a seller. These statutory agency requirements are spelled out in a pamphlet in the form required under RCW 18.86.120. Property Managers.  In Washington, property management is classified under “real estate brokerage services.” As a result, property managers in Washington are required…

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Enforcing Real Estate Purchase and Sale Agreements In Washington State

Although it doesn’t happen often, when a buyer or seller unilaterally withdraws from a purchase and sale contract, it represents a material hardship to the other party. Contractual relationships generally assume two willing parties. What happens when one decides to stop performing and withdraw? Earnest monies. Sellers are compensated for their time and effort when…

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Due Diligence For Purchasing Real Estate Outside a Municipality In Washington

The typical buyer of residential real estate located in a municipality does not run into legal due diligence challenges. Residential parcels within a municipality created by a platted subdivision typically require less due diligence because: 1) easements are referenced; 2) road access is required; 3) zoning is well-defined; and 4) water, sewer, and power are…

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Seller Disclosures For Real Estate In Washington

Washington requires relatively extensive seller disclosures for both residential and commercial properties. The specific disclosure form required depends on whether the property is commercial, “improved residential,” or “unimproved residential.” The Revised Code of Washington defines “improved residential real property” as real property with one to four residential dwelling units, certain residential condominiums, residential timeshares (unless…

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Due Diligence When Buying an HOA Parcel in Montana

Consider the impact of the following documents on your use and enjoyment of an HOA parcel before buying: Homeowner Association Records and Budgets. Financial or other governing entity documents include boards of directors meeting minutes minutes and financial statements. Even a simple three-member road, septic, or water system maintenance agreement should have financial records related to…

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