Why would a person ever require the services of a real estate lawyer? There are actually many reasons that a person would require the specialized knowledge and experience that a real estate attorney brings to the housing situation. Purchasing a house, selling a house, and leasing a property all require contracts and legal stipulations. There are many situations that call these contracts and their level of legality into question. Protect your investment and property rights from these types of situations with a real estate attorney.
Lease agreement disputes
There are a large number of renters across the country. A rental property requires providing its renters with a safe and secure living situation. The contract should stipulate specifics, including rental amount, length of rental, and any additional information surrounding damages or problems with the house. Many renters do not read over the lease agreement closely enough, and are left with lease agreement disputes. Some renters face illegal eviction cases.
Rental property owners may also have trouble with unlawful detainer actions. Unlawful detainer actions are when a lease is up, and the tenant refuses to leave the property. Although a legal lease is required, the tenant will then have to go through the entire eviction process for unlawful detainer actions. This can take time and can be an expensive process, all at the expense of the tenant. In some cases, a real estate attorney can speed up the process, saving the owner money.
Legal contracts tend to be a little lengthy and wordy. A person who is not familiar with real estate law may not fully understand the contract that they are signing. This often leads to disagreements, with boundary disputes being a common one. Homeowners may argue about where their property ends and where the next one begins, making building fences, add additions, and storing items common causes for disagreements. Sometimes, the real estate contract is not entirely clear as to where the property lines are. A real estate attorney, however, can order the necessary tests and documents to establish clear boundary lines.
Purchase agreement disputes
The purchase agreement is an important tool in the buying process. It states the exact price that the buyers are willing to pay, as well as any additional buying stipulations. If the buyers require an inspection and want the ability to back out based on poor inspection results, this needs to be stated in the purchase agreement. The NATIONAL ASSOCIATION OF REALTORS says 77% of homebuyers have an inspection done before completing a home purchase. To avoid nasty surprises once you are in the process of selling your home, have your own inspection done and make any repairs over the winter months before you list the home.
Common purchase agreement disputes also surround the length of the purchase agreement. The entire buying and selling process can be drawn out, and some purchase agreements allow the buyer or the seller to back out after a specified amount of time. After you have entered into a purchase contract, how long things will take depends on your contract, which should specify a closing date or number of days before closing. Within four to ten weeks is typical, although it varies from state to state. On average, it takes about 40 days to close on a house in the state of California. Ensure you know your length of agreement.
Homeowners association disputes
Some real estate contracts contain additional requirements, such as homeowners association rules. These are rules based on the location of the house that is made up by the local homeowners association. These rules might limit the type of work that can be done to the house, or the ability to rent the property to renters. It may also affect unlawful detainer actions cases. Other problems occur when the renter or buyers is not properly notified of the homeowners association rules ahead of time.
Real estate can be a complex industry. It is closely related to the law industry, in that the buying, selling, or renting of properties requires the use of a legal contract. There are many situations that call these legal contracts into question, requiring an experienced real estate attorney.