For most people the purchase of a home is the largest asset purchase of their life. Strangely, many people will go through the entire process of buying a house without even consulting with a real estate attorney. Buying a home can be more complicated than expected. Problems can arise over the contract to purchase, financing contingencies, and with the title. Sadly, many people only go to an attorney only after it is too late, and when their transaction is already in jeopardy. Contacting a real estate attorney before you make an offer on a home will greatly reduce the risk of avoiding the common and frequent problems that can arise.
By employing a real estate attorney to assist you with your transaction, you will also get advice about income tax and estate consequences arising out of the transaction. You will also be advised as to your property taxes, whether your property is subject to special assessments or zoning regulations. Most importantly, you will have an attorney preparing the legal documents that establish your ownership or sale of the property.
Unlike title companies, an attorney representing you has an ethical obligation to look out for your best interests. Knowledge of this duty should alleviate some of the stress associated with going through with a substantial purchase or sell. In furtherance of your real estate attorney’s duty to look out for your best interests, your real estate lawyer will prepare and/or review the contract to purchase the home. The attorney will conduct a title search, and evaluate the status of the property’s title. Also unlike title companies, if there is a problem with the property’s title, a real estate attorney can actually fix many of these problems. Should it be necessary to draft a corrective deed or file a lawsuit to quiet title, an attorney can salvage a transaction that might otherwise by doomed.
In addition to drafting the contract, a real estate attorney will also draft all of the necessary closing documents need to close the deal. Frequently, a real estate attorney will also issue title insurance, insuring the marketability of the purchased property’s title. Although subject to certain exceptions, title insurance is another layer of protection that a real estate attorney can offer the parties to a sale.
In addition to real estate closing services, a real estate attorney can so provide other valuable services. Frequently properties are purchased for the sole purpose of creating investment income. Making a property a good real estate investment often begins with possession a good lease. Drafting a residential or commercial lease can be complicated when trying to balance the interests of a landlord and tenant. One of the most important parts of this process is clearly spelling out the rights and obligations of both parties. A clear, well worded lease eliminates the risk of misunderstandings and disputes caused by ambiguity.
Unfortunately, even the best of attorneys cannot eliminate all of the risk associated real estate ownership and transactions. In certain instances litigation is the only choice individuals have to enforce their rights. In these circumstances a real estate attorney can assist you in bring suit or defending an action brought against you.
Almost everyone’s life involves real estate to some degree. Whether we are renting a home, purchasing a first home, or buying or selling a investment property we all some level of interaction. Leases create obligations that can last, one, three, five or even ten years. Buying a home or commercial property can put hundreds of thousands of dollars at stake. Such investments of time and money deserve protection and careful analysis. A real estate attorney can help you protect these valuable investments. At Kevin G. Staas, P.A. we take these client investments seriously. We understand that in many instances you are investing a substantial portion of your life’s savings. Our firm issues title insurance to our clients through Attorney’s Title Insurance Fund, Inc. (www.thefund.com). Attorney’s Title Insurance Fund is the largest title insurance underwriters in the State of Florida and is affiliated with the Real Property Section of the Florida Bar.
At Kevin G. Staas P.A. we take the time to deal with each transaction on a case by case basis, providing individual attention to each client. Likewise, we can tailor lease agreements to fit the individual concerns of all parties. Whatever your real estate matter, our firm will serve all your needs.