Real estate is a great investment. This long-term investment typically increases in value over time. However, you may want some help with your real estate transactions Keyser WV.
A real estate attorney’s most valuable asset is knowledge. Your real estate agent may not understand all the legal issues that can occur when you purchase or sell real estate. For example, are the additions permitted? If the property has a tenant, what is the eviction process? They may also guide you on whether and how you can turn your property into a rental property. An attorney can help you navigate these issues and give you valuable knowledge.
Your attorney will create a clear, concise real estate contract. Every detail will be outlined. For example, you must state that you have a tenant with a 1-year lease in your property’s sales contract. If you are purchasing a property and find mold, your attorney can add remediation to the contract. Your attorney will ensure that you receive everything you want in the transaction.
A real estate lawyer is able to review all your documents, including the sales agreement, disclosure statement, inspection and mortgage contingencies. These professionals will also review your down payment agreement and escrow, title insurance and issues, and fees at closing. Any document involved in your transaction, including pest control and mold remediation, should be reviewed by an attorney.
Lawyers negotiate terms. For example, you may want to live in the home for a specified period of time before you purchase it, but you want your rent to be deducted from the purchase price. Whether you want the purchase price lowered or raised, work done on the home or the property’s mineral rights, your attorney can negotiate these into the real estate purchase. This process can take time and may involve some concessions on your part, but a reputable attorney will get you what you want at the lowest cost to you.
If you are considering a real estate investment, consider working with a reputable real estate attorney.