Real Estate Law Attorney in Blaine, Minnesota
Whether you’re buying a home, selling a home, or signing a commercial lease, entering into a real estate contract can be an exciting and stressful time. In some cases, buyers and sellers can achieve their goals on their own or with the help of a local real estate agent, but if you have a particularly complex agreement, you’ll need the help of a real estate attorney. With such major transactions, you want to make sure your interests are properly represented and that you won’t run into any legal trouble down the line.
If you’re involved in a complicated real estate transaction and have legal concerns, give me a call at The Law Office of Robert J. Everhart, PLC. My office is in Blaine, Minnesota but I represent clients throughout the area including Hennepin County, Ramsey County, and Sherburne County.
Real Estate Transactions
Not everyone will need to work with an attorney during a real estate transaction, but it’s important to know what situations may call for it.
Common Real Estate Transactions for Buyers/Sellers
The most common transaction is simply purchasing a residential home. These agreements are typically straightforward: a real estate agent can help you locate and view different properties, then write out offers and contracts. The same goes for selling a home: most sellers will work with an agent to list their home, show it to potential buyers, then write out and review the purchase documents. In both cases, a licensed agent should be able to alert you to any potential problems and ensure the transaction is clear and fair to both parties. However, there are instances where your agent will not be able to give you the most comprehensive legal advice.
Contract Disputes: One of the most common conflicts that can arise is a contract dispute. The dispute could arise over financing, a problem found in the inspection, deed transfers, agreements to rent back the property to the seller for a specified period of time, or conflicts over current renters in the home. For example, a property may have an existing ADU attached to it with current renters and you may be unclear about what their rights are during the purchase process. These laws can vary widely by state and municipality, so it’s important you’re working with someone who fully understands the law.
Title Problems: You may also encounter issues with the title and how it’s being transferred, who’s named on it (for example, if you’re purchasing a home with one of two other people and you want to be sure all your interests are represented fairly), or if there are existing agreements with neighboring properties that are not accurately represented on the title.
Boundary Disputes: A boundary dispute is a very common problem and can occur if a property has been (or will be) subdivided, if the boundary line needs to be adjusted, or when there are any existing easements.
Taxes: If you have a dispute over property taxes such as who’s responsible for paying them during the transaction, whether there are unpaid property taxes, or how the appraised value of the property will affect them, it’s important to consult with an attorney before signing a purchase agreement.
Liens: Lastly, it’s essential to know if there are any liens on the property that can affect the title of the property. These could be tax liens or construction liens which can restrict your ability to sell.
Why It’s Important to Hire a Real Estate Attorney
A real estate attorney can be helpful for any atypical purchase or sale as well as if you’re entering into residential or commercial leases. They can help negotiate on your behalf with the other party to ensure you’re getting a fair price all while protecting your rights throughout the process. Both buyers and sellers should be aware of their rights regarding property and title disclosures and how violating those rights can result in legal trouble. An attorney can also work with your real estate agent to draft and review any purchase contracts and identify potential issues.
Even an experienced real estate agent will only be able to give you limited advice on how you should proceed; reaching out to a lawyer can give you the legal guidance you need to make difficult judgment calls. This will become especially helpful when you’re ready to close on your contract and want to ensure every last detail has been accounted for.
Real Estate Law Attorney Serving Blaine, Minnesota
If you’re in the Blaine, Minnesota area and want to consult with an experienced real estate attorney, call me today. I opened The Law Office of Robert J. Everhart, PLC in 1987, and have been committed ever since to providing my clients with practical and honest advice. Reach out today to schedule a consultation.