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Why You Need a Real Estate Attorney When Buying or Selling Property

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Bailey Legal Services Is Here to Represent You for Real Estate Matters

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Bailey Legal Services, PLLC, is here this month to tell you why you need a real estate attorney when buying or selling property. You may be thinking, “I already have a real estate agent, why do I need an attorney, too?” Well, there are many minor details when dealing with a property issue that an attorney may be better suited. Today we’re going to give some details on when to call on an attorney, including:

  • Land Contracts
  • Deeds
  • Title Searches
  • Boundary Disputes
  • Purchase & Rental Agreements

Land Contracts for Barboursville, WV

Land contracts are a financial agreement between a buyer and seller of a property. The contract outlines basic financing. Instead of owing a mortgage to the bank, you owe the price of the property to the seller. This is similar to the term “rent-to-own,” except that the buyer is in charge of upkeep, and the seller is not considered a landlord during the transaction.

When drafting a land contract, it is best to run it by a knowledgeable real estate attorney. As you may consider or know from experience, there are many loopholes or small details in the fine print of a contract that can come back to bite you later. Attorney Bailey is here to read the land contract before you sign to help you to find any snags in the print. If you are unsure where to start with a new land contract, we can help you with that, too.

 

Trusting an Attorney to Handle Deeds and Title Searches

Investopedia defines deeds as a “legal document that transfers the ownership of real estate from a seller to a buyer.” As you can guess, a deed is a very important part of the real estate purchasing experience, whether it is a residential or commercial property. Deeds must be in writing, include the identification of the buyer and seller, and provide a description of the property. Without these things, the deed is not viable. If you are unsure if the deed has everything it needs, enlist the help of a real estate attorney.

Part of the buying and selling process includes a title search. The title search will make sure that there is nothing wrong with the property, like owing back taxes, loans, or any other issues with the seller or the property. Having an attorney handle the title search can give you peace of mind that you have a clear chain of title and that everything is in good shape. If you’re buying a home or commercial property in Barboursville, WV, talk to attorney Bailey about conducting a title search.

 

Handling the Legalities of Purchase and Rental Agreements

Purchase agreements are a binding document between a buyer and seller to complete a transaction, no matter the item. In many cases, residential or commercial property transactions are bound by a purchase agreement. This document will highlight any negotiations on price, duration of the payment, and any terms and conditions of the sale. If you’re unsure of anything, do not sign it! Attorney Michael S. Bailey is here to help. He can look over each and every detail of the agreement to make sure it is in your best interest to follow through, whether you are the buyer or seller.

It’s also just as important to have an attorney review a rental agreement or a rent-to-own agreement. As a tenant or buyer, will you be responsible for taxes and property maintenance? Or will the landlord or seller handle it until the buyer pays the property off? Is there a certain amount of time you have to pay it off? Is the rental payment date set and feasible for both parties? Any agreement can change, and just because you know someone else that had it one way does not mean yours will be identical. It’s better to be safe than sorry – call our law office today.

 

Don’t Let Boundary Disputes Get Too Far

Now that we’ve briefly covered some of the documentation that real estate attorneys can help with, it’s time to discuss boundary disputes. Unfortunately, some home or business owners struggle with boundary lines with their neighbors. Oddly designed boundaries or just ignorance can make home owning difficult, especially when you can’t control what other people know or don’t know.

If your neighbor has built a structure on your property, is parking on your property and will not stop, or has done other damage or caused inconvenience, you may have a dispute on your hands. Do not let this get out of hand. Find a qualified attorney to mediate and handle the problem. The right real estate attorney will listen to both sides and find the proper boundary lines to determine who, if anyone, is in the wrong. Sometimes it’s as simple as reading the map incorrectly, but it can be something more difficult and cumbersome to deal with. Michael Bailey is here to listen to your concerns and represent you in the event of a boundary dispute.

 

Contact Bailey Legal Services for Real Estate Matters

Bailey Legal Services, PLLC, is available to residents of Barboursville, WV, for real estate matters. As we’ve discussed, there are many reasons to find an attorney to represent you during real estate disputes, deeds, or other property issues. Our firm can help both residential and commercial clients on handling real estate matters in West Virginia. We invite you to learn more about our real estate and other legal services. Give attorney Michael S. Bailey a call today for more information on why you need a real estate attorney in Barboursville, WV.

 

Call Bailey Legal Services, PLLC in Barboursville, WV, at (304) 736-0801. Follow us on Facebook and check out our site for future updates and more information on why you need a real estate attorney.