In buying commercial or residential properties, a lot can go wrong. Over the last three decades, great strides have been made for real estate professionals to utilize standard sales documents that are neutral and fair to both sides. Through recent legislation, training of real estate professionals, and the adopting of common practice, deals tend to be much smoother and fair.
However, no matter the size or complexity of the transaction, having a solid team on your side is crucial. Team member cam range from the real estate broker or agent, mortgage broker, appraiser, inspector, surveyor, and real estate attorney.
At Fetherston Edmonds, LLP, for over five decades we have worked with clients during all phases of the real estate life cycle. In this month’s issue, and the next few, will discuss some of the common mistakes we see buyers make and how utilizing a trusted real estate lawyer can help save you or your client thousands of dollars and headaches.
One of the most common mistakes I have seen is buyers who have not properly investigated neighboring owners and their use of property. Examples are:
Clearly a buyer doing his or her homework can pay off. Having a trusted real estate attorney review your sales documents, analyze the underlying items identified in a preliminary title report, and do an investigation of the property could prevent man expensive and burdensome problems.