If you're in the process of buying your first home, you're going to need a real estate attorney. You might not think so right now, but when all is said and done, you'll be glad that you did. There are a lot of details that go into buying a home that you might not understand, or overlook, when you're buying a home for the first time. Your real estate attorney will make sure those details don't go unnoticed. If you're in the process of making a different type of real estate transaction, you might not think you need a real estate attorney. However, that's not the case. The fact of the matter is that you need a real estate attorney for a lot more than just navigating through your first home purchase. Here are just three of the reasons why you need a real estate attorney on your team.
1. When You're Buying Your Second Home
You've already bought your first home, so you think you're good to go. However, if you're in the process of purchasing your second home, you're still going to need an attorney, especially if you're not selling your first home. You're going to be dealing with a lot of extra paperwork now that you'll be owning multiple properties. Some of the paperwork will involve issues such as residency – how much time you plan on spending at each home. Your real estate attorney can help you sort through the confusion.
2. When You're Buying Investment Property
If you're going to be purchasing an investment property, whether it's homes or office space to rent, you're going to need the expertise that a real estate attorney can offer. This is particularly important if the investment property you're trying to purchase comes complete with existing tenants. If you don't want those tenants to come along with the transaction, you'll need to be guided through the process involved in evicting them. You'll also need legal guidance regarding zoning laws and local health code regulations.
3. When You're Buying Vacant Land to Build On
If you're going to be purchasing vacant land to build a home on, don't start the process until you've hired a real estate attorney. A lot can go wrong when purchasing bare land. For instance, there could be toxic waste issues that will need to be dealt with, or there could be easement issues that will need to be resolved. Your real estate attorney can help take the stress out of dealing with those problems.
Whether you're buying your first, second, or multiple properties, it's wise to invest in a real estate attorney who can walk you through each step of the process. Consult with a firm that offers real estate attorney services to get started.