Owning property is the American dream. Whether it’s buying a new house or commercial building to pursue your dreams of opening your own business, there’s nothing like the pride of ownership. It would be great if these transactions went through quickly and smoothly, but that isn’t the reality. There are times when you need an attorney to help you with a real estate contract.
Residential Real Estate Lawyers
Most people go through the home-buying process without the need for a residential real estate attorney. These are generally straight-forward sales that real estate agents are able to navigate, but there are situations when having a residential real estate lawyer will protect your interests. Those situations include:
- Special sale circumstances like foreclosures, short sales, estate sales, and auctions
- The home is involved in a divorce settlement
- The home is located in another state
- The home has major structural damage
- There are liens on the property
- You are selling a home on behalf of the estate of a relative
While these are less common scenarios for buying or selling a home, hiring an residential real estate attorney to protect you and negotiate for you is always recommended.
Commercial Real Estate Lawyers
Buying and selling commercial real estate is trickier because it can involve building codes, zoning laws, landlord-tenant law, boundary disputes, compliance issues, and other complications that aren’t part of residential transactions. The ways in which a commercial real estate attorney can protect you when you are buying or selling a commercial property include:
- Making sure that all inspections and appraisals are complete, accurate, and fair
- Drafting all legal documentation to include all points of negotiation
- Completing the negotiating for you
- Protecting your interests so that you aren’t shortchanged or deceived during the sale
Since a commercial real estate lawyer can bring greater knowledge and expertise to the table, it really is unwise to enter into a commercial real estate transaction without one.
Whether you are the buyer or the seller of residential or commercial property, Warren S. Dank, Esq., P.C., is here to help you with all your real estate needs.