Entering into the real estate market in Arizona is a great way to invest your money. It’s also a challenge many people aren’t ready to face. If you are ready to conduct real estate deals, it’s crucial to have an experienced real estate lawyer by your side throughout the entire process. Brian Weinberger of Weinberger Law explains five ways an Arizona real estate lawyer can save you headaches and money in today’s post.
Review the Purchase Contract
One of the most important benefits of working with a real estate lawyer in Arizona is that the lawyer will review the purchase contract before you sign it. Investing in real estate, either residential or commercial, is a risky life decision. A lawyer will review the purchase contract to make sure it does not favor the other party and has the required clauses and terms. If you sign the contract before having a lawyer review it, you may have given up important rights that the lawyer will not be able to recover for you.
Explaining Restrictions on the Property
There very well could be restrictions on the property you are purchasing in Arizona. You likely won’t know about these restrictions unless you work with a real estate attorney in Arizona. Restrictions are often imposed by a third party, such as a local governing body or a homeowners association. For example, if the property is in a Historic District, you might be limited as to the repairs you can make on the property.
Negotiate, Negotiate, Negotiate
Arizona real estate law is not as straightforward as you might think, especially when it comes to negotiating the purchase or sale price of the property. If you have never purchased real estate before, striking the wrong deal can pose a serious risk to your financial situation. There are ways to add value to the contract for you without necessarily adjusting the price. An attorney knows the ins and outs of negotiating and can ensure you are getting the right terms for your purchase or sale.
Recording the Transaction
The real estate transaction must be recorded correctly to avoid any questions arising about who owns the property. The title of the property must be transferred to the new owner once the transaction is complete. If this does not happen, or done incorrectly, lawsuits could emerge claiming you do not own the property. Avoid the headaches caused by an improperly recorded deed by working with an attorney throughout the entire process and not just when it’s too late.
Checking for Trouble with the Title
Since we have mentioned the title to the property, it’s important to note that a real estate attorney will be able to check for any trouble with the title prior to finalizing the transaction. There could be a lien on the property, which could wind up becoming your responsibility when you buy the property. Or, someone else could lay claim to the property. You need to know about these problems before agreeing to by real estate. You may also need a lawyer to help get a lien or deed restriction removed.
Buying or Selling Arizona Real Estate? Call Weinberger Law
If you are getting ready to buy or sell Arizona real estate, it’s in your best interest to call Weinberger Law to speak with Brian Weinberger today. Mr. Weinberger has more than 30 years of experience helping clients just like you. A real estate transaction can take a wrong turn when there is no lawyer working for you. Call the office at (480) 536-9991 to schedule a consultation.