Did you know the total real estate sales are estimated to exceed $160 billion in 2021?
Real estate remains the best investment you can make today.
Buying real estate is a thrilling experience for most investors. Most procedures are enforceable by law, and understanding the legalities associated can be cumbersome.
Hiring a property rights lawyer is a smart move to protect your investments. Property rights attorneys assist in several ways in both commercial and residential real estate.
First, the lawyer will assist you with drawing up contracts and other legal documents. Also, he or she offers guidance in property development and land use.
Here are five Occasions where you need a property rights lawyer…
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Purchasing real estate is a huge financial undertaking with great impact. Property rights attorneys are essential to helping you plan payments on the property.
They advise you on matters related to viable mortgage amounts, closing costs, and timing of payments. A reliable lawyer will also help you consider factors that may be overlooked during the excitement of purchasing a property.
Such factors include how you might be impacted by unforeseen expenses and the effects of taxes.
Property rights attorneys are also versed with ways to avoid surprising closing costs.
If you plan to purchase a home and you are a few dollars short, a mortgage might come in handy. However, there are limitations to such loans. This is where a property rights lawyer comes in.
The lawyers are conversant with the property law and understand variables that affect your ability to qualify for a loan.
Also, they know how to negotiate with the bank on your behalf and help identify existing realities.
There are situations where your property can be targeted for sale against your wishes. Property law allows the government to acquire protected or private property for public use through eminent domain.
However, if you feel the process isn’t just, you can file a complaint through a property rights lawyer. The lawyer helps you understand your rights and ensure you get fair compensation.
Eminent domain laws are complex and require expert interpretation to ensure abuse doesn’t occur. McKirdy, Riskin, Olson & DellaPelle can guide you through the process.
Property taxes can be a burden, especially for real estate investors. You are expected to pay taxes for multiple properties at a go.
The good news is you can apply for real estate tax appeals through a property rights attorney.
The attorney challenges your property tax bill arguing the assessed value is too high. He or she attends the property tax hearing on your behalf.
Private property redevelopment isn’t as simple as it sounds. There are various zoning laws you should adhere to. Property rights attorneys understand expected obligations and assist in making unified decisions.
When it comes to real estate investment, never put yourself at risk. Ask your real estate agent for a referral to a reliable property rights lawyer. Before hiring the lawyer, schedule a meeting to see if he or she is the right fit. Check whether the lawyer has experience in the issue you are dealing with.
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