With real estate investment on the rise, more and more people are getting involved in more complicated real estate transactions. Whether you’re an experienced real estate investor or buying your first property, there are several situations where real estate law can become complicated.
Real estate law can be complicated and confusing when conflict arises. An attorney will help you navigate your real estate dealings by advising of possible outcomes and solutions to the complications you face.
1. Commercial Property Deals
Unlike residential property dealings, commercial property agreements can get complicated quickly. Your attorney will address with you the additional issues that aren’t a problem with residential land purchases. Most people are not familiar with purchasing a commercial property. Hiring an attorney who can be the support system you need to ensure you have a good deal is crucial.
Some of the additional factors you’ll need to consider are zoning issues, structural concerns, legal description accuracy, liens, easements, environmental concerns, and possible rent. Unlike a real estate agent, your attorney doesn’t work based on commissions. This makes it possible for them to advise you without a conflict of interest risk.
Commercial property is a large financial investment. Don’t risk it by not hiring an attorney.
2. Probate Administration
Real estate that’s a part of probate administration can become complicated to deal with as you navigate both real estate law and the will. One approach is to sell the property, but you’ll need to work with the probate court during this process.
Another option is to transfer ownership to the intended person as their inheritance. This can also become complicated when more than one person becomes the new owner. Working with an attorney can streamline the process and help resolve disputes.
3. Complicated Land Sale or Purchase
While Florida real estate law doesn’t require you to hire an attorney for the purchase or sale of land, it can be smart to work with one. Not every home purchase is as simple as signing the closing documents. If you discover that your real estate has issues with surface rights, disclosures, mineral rights, taxes, or the title, then you need to consult with an attorney.
These are all issues that can result in another party making a claim of ownership after your purchase. Your attorney will help you clarify actual ownership and possible ownership claims before you commit to your purchase.
4. Dispute Arises
We all hope that your real estate dealings go smoothly. However, this doesn’t always happen. If a dispute or litigation arises, you should immediately seek out legal counsel. Conflict typically arises over the terms of the deal or the negotiation process.
If you discover the seller has misrepresented the property, you’ll need an attorney to pursue correction and compensation. Your attorney will prepare the necessary documentation and communication to advocate for your best interest.
5. Problems With the Property
You’ve found your dream home and are ready to purchase. But then you discover that there were illegal additions or improvements done. Purchasing this property just became more complicated. You need to hire an attorney who can advise you of your options and how to best protect your interests.
Otherwise, you may unknowingly accept liability and responsibility for the problems with the property. This could cost you significantly more after the actual purchase.
Seek Advice on Your Real Estate Law Situation
If you find yourself facing one of these situations during your real estate dealings, then it’s time to consider hiring a real estate attorney. Schedule a consultation with an attorney that has experience with the type of situation you’re dealing with. Experience is key because it enables them to know the intricacies and potential pitfalls of the situation you’re in.
Request a consultation with one of our skilled attorneys and discuss your real estate situation.
