Buying and selling real estate is a major investment, so it’s understandable that you want to be sure that every detail is accurate and that your investment is protected. The reassurance you have when you work with an attorney who has the right experience to guide you through these transactions is tremendously valuable. While you may try to minimize your costs by not using a lawyer, the cost of a mistake on an investment this large is far greater than what you will pay for an attorney. Real estate agents lawyers help in a variety of ways by drafting contracts and amendments, review liens, request disclosures on behalf of the buyer, and ensure that deeds are properly filed and recorded, among many other services.
There are two beneficial reasons for hiring a real estate attorney for the preparation and execution of a real estate sales contract. First, the contract protects the rights that each party has, in writing, so that both sides are clear on what to expect. Secondly, a properly-composed contract accurately describes the details of the transaction that is going to take place, with details on the property and serves as a guide for both parties.
Your contract lays out the different rights and remedies each party has in the event that the other breaches their contract, such as the seller refusing to sell the property or the buyer not obtaining financing within the timeframe expected. If you do not have certain agreements in writing, then you will be unable to pursue legal remedies and get the compensation you deserve for the financial harm you’ve suffered from the breach. Another reason is that any errors or omissions in your contract can result in the contract being ineffective, or may require lengthy litigation in order for the terms to be clarified. Lastly, a real estate attorney can help put your contract in clear terms that are understandable by both parties. If the language is too vague, then it can delay closing. An experienced real estate attorney knows how important contracts are to a smooth process when completing transactions.
As a landlord, you can avoid unnecessary litigation by getting the proper legal guidance to help you prevent tenant issues. We can assist you with drafting rental and lease agreements as well as working through common issues that occur, such as when tenants sublease properties to other individuals.
Each state has its own laws about what type of information must be disclosed about a property. Otherwise, a seller risks being sued. According to The Virginia Residential Property Disclosure Act, sellers in Virginia must provide buyers with a signed Residential Property Disclosure Agreement. This disclosure statement has important stipulations and notices for buyers such as:
There are some exceptions where the Residential Property Disclosure Statement is not necessary, such as when sales are between co-owners, between relatives, or in certain types of sales such as bankruptcy, foreclosure, and trust sales. A builder-seller is not required to complete the disclosure statement for a new home, but they do need to provide the buyer with a written disclosure of any known violations of the building code.
The Hazelwood Law Firm has extensive experience assisting with the purchase or sale of commercial real estate. Our firm has negotiated and handled the purchase and sale of shopping centers, warehouses and offices throughout Northern and Central Virginia. In addition, the Hazelwood Law Firm has significant experience negotiating and drafting commercial leases for many types of business, from restaurants to gasoline stations.
For many years the Hazelwood Law Firm has assisted lenders with foreclosure and deeds in Lieu of foreclosure. In addition, the Hazelwood Law Firm has represented a variety of lenders by handling their REO sales.
The Hazelwood Law Firm has assisted numerous individuals with the negotiation and preparation of residential real estate contracts. The firm has also provided assistance and representation through the settlement process. In addition, our firm has assisted many individuals by handling tax deferred exchanges.
Let us assist you with your real estate matter. Whether you are a business, lender or individual, we have 40+ years of handling commercial and residential real estate matters. Do not hesitate to call us with your Northern and Central Virginia Real Estate Needs.
With over 40 years of combined experience, our team is ready to handle any problem or concern that our clients face. We understand how important it is to them to protect their investment, as well as how much an emotional stressor buying or selling a property is. We strive to make the process as easy as possible for our clients when making real estate transactions. Give our office a call today to speak to one of our attorneys about your questions or concerns.
9245 Old Keene Mill Rd #200
Burke, Va 22015
3781 Westerre Pkwy, Suite F, #102
Richmond, Va 23233
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.
HAZELWOOD LAW FIRM