When Should You Need a Property Lawyer?

Everyone knows buying a home is a large investment, in some cases, the largest investment people can make. Buying a home is expensive, but it is also risky. It involves real estate law, which is complex and has many different areas that you will need help navigating. The law does help and covers most situations, depending on the jurisdiction, but it also raises issues that have to be dealt with properly. After all, a house is a huge investment for all of us and there should be no room for error in this situation. A real estate lawyer or a property lawyer in Miami is trained to help people with real estate law. The help can extend to buying, selling or renting a home, but can also help with mortgage issues, inheritance and everything related to the real estate aspect. Image result for property lawyer Miami When do you need a property attorney in Miami? Can they help you? How can you find one? Let's see some answers for these questions: Buying a home
Typically, when you buy a home, you interact with a real estate agent. Once you find the home, either through an agency or via an online listing, you contact an agent and you will have to do the paperwork. The seller of the home enters into a brokerage contract with the real estate agent - an agreement that is almost always made in writing. You, as the buyer will initially only interact with the real estate agent, who acts as an intermediary between the seller and the buyer. You don't get to call and chat with the seller directly, the communication is done via the agent. Once you reach an agreement regarding the house, the price and other financial aspects, you will be put into contact with the seller. The agent will help you reach the final agreement with the seller and you will have a formal contract for the sale. This is called the purchase agreement and it is the main document for the transaction. As soon as the buyer has the financing from the bank or from other sources, the agreement is enforced and the payment is transferred to the seller. Once this is completed, the property is transferred from the seller to the buyer for the price settled upon in the contract. This process seems smooth, but there are many things that can go wrong. The contracts and paperwork must be carefully written and must be bulletproof in case something is not right. The consequences can be disastrous, both for the buyer and the seller if there are issues. Getting help around vague and unclear terms
You've definitely noticed before that real estate contracts and paperwork often use terms that can be quite vague. If you don't have experience with these types of documents you can easily feel overwhelmed and errors can pop up. These terms can become really problematic if the contract is for buying a home, an inheritance or if the financial risks are high. For instance, in a home buying contract, a seller may sign a brokerage agreement that is vague on multiple legal issues. In this case, you probably won't even notice the vague aspect of the agreement, especially if you don't have experience with this type of document. However, vague terms and incomplete documents are quite common and you will have to take care and avoid issues related to them. This happens because realtors use standard forms to make their job easier, and sometimes these forms don't cover all situations. A good property lawyer in Miami can help you understand and get you a better contract that covers all the unique aspects of your deal. Studying the transaction agreements Although real estate purchase agreements are standardized and realtors always struggle to cover all the aspects of the real estate law, sometimes they don't cover all the requirements. A property lawyer in Miami can help you read and examine the purchase agreement. You'll get the chance to make changes, ask questions and include other important aspects that were omitted in the standard form. The same goes for the seller. They can add important points to the document if a property attorney in Miami is present. Here are other examples where a property lawyer is useful:
  • The property was altered or modified – was it lawful? What were the circumstances in altering the document? How do we include this in a contract? 
  • The buyer wants to modify the property – is this possible? Under what circumstances? How will the planning go? Can we get assurances on this aspect? How do we include this in the purchase agreement?
  • What happens if the building is examined by an architect or engineer and it contains structural issues? What if the property is infested with insects, like termites or bugs? What if the building has dangerous materials, like asbestos or lead-based paint? Do you get compensation if this happens? How do you include that in the purchase agreement?
  • What happens if the property contains hazardous waste?
  • What happens if the financial aspect is not resolved properly? The down payment was not made, and the bank has refused the payment. Will the money be held in an escrow? What are the terms of the escrow and how can the money get to the seller quickly? How will the closing of the contract occur if financial matters are still pending? These are all situations that can occur in the real estate world and a good property attorney can help you overcome them. Most buyers and sellers don't have the required experience in dealing with agreements and contracts. Just a simple legal consultation can help you get the required information and will help you avoid disastrous issues that can occur when a transaction is made. Hiring a property attorney in Miami is about feeling safe and secure in your property and your future investment.  An experienced attorney will help you make the right decisions. It's the most important purchase of your life, after all, remember?

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