Top 10 Reasons To Consult a Real Estate Attorney Before Buying Property

Considering the purchase of a home, be it vacant land, a home in a subdivision, or a condo, is a pivotal decision laden with complexities. It’s crucial to recognize the significance of seeking a Real Estate Attorney Consultation early in the process to sidestep potential pitfalls. In this post, we delve into the top 10 reasons why initiating a Real Estate Attorney Consultation is paramount before venturing into any property acquisition.

10 Reasons to Consult a Real Estate Attorney

1. Title Exceptions: What few people know about title insurance is that all types of encumbrances aren’t covered in title insurance policies. These “title insurance exceptions” are rights that have been granted to someone else, somewhere along the line. Use TIER for a legal opinion to fully understand what you’re buying, particularly property in rural areas.

2. Easement Issues: Easements are one of the most common causes of real estate disputes. Use TC Drafting for the services of an experienced real estate attorney to review an easement or draft one.

3. Seller Disclosures: If, during the purchase process, the seller has disclosed something about the property that you don’t fully understand or that makes you uncomfortable, use TC Review to discuss this with a real estate attorney before following through on the purchase.

4. Boundary Lines: If there’s any type of dispute or disclosure about a boundary line for a property that you’re considering purchasing, use TC Drafting to start a discussion with a real estate attorney. Walking away from your dream home will be a better option than finding out that part of it was built on your neighbor’s land.

5. Joint Tenant vs Tenants In Common: If you’re purchasing a property with someone else, you need to understand your legal rights. Use TC Drafting to understand the scenarios, best case and worst case, if you have not signed a document yet and TC Review if you have signed a document.

6. HOAs: If the property you’re considering purchasing is part of a homeowners association (HOA), it’s important to know what rights you will, and won’t, have to enjoy the property. A real estate attorney can review the HOA documents and see if there are any red flags or untenable rules and regulations. Use TC Drafting to get the CC&R’s reviewed.

7. Vague Deeds: Vague deed issues, in which it’s not entirely clear who owns the property, can be a nightmare and a virtual guarantee of a future lawsuit. Use TC Review to get a real estate attorney to review the deed and clear up any ownership issues before you agree to buy the property.

8. Enforcement of the Real Estate Sales Agreement: If you have a purchase sales agreement in place for a property, and the seller tries to back out of the agreement, use TC Drafting to get in touch with a real estate attorney. An experienced attorney could help enforce the agreement or help you get compensation for losing out on the property.

9. Acceptable Uses of the Land: Every piece of land or property has “acceptable uses.” Use TIER or TIER Plus to understand which land uses are permissible and also identify any encumbrances on the property.

10. Peace Of Mind: If anything concerns you, anything at all, you should contact a real estate attorney before following through on a real estate purchase. The peace of mind that you’ll get – from an attorney who can come up with a binding, legal solution to resolve the issue or who recommends that you walk away from the deal – is priceless!

The information in this Post is not legal advice. Legal advice is based on specific facts. This information is necessarily general in nature.