Yes, that's right a "Simple" real estate transfer can turn into a real estate nightmare almost instantly based on the 4 Common Assumptions people make about real estate transfers.
- The parties assume it's a simple transaction because they know each other or a family member knows the other party.
- The buyer assumes they're getting "good title" to the property because the owner has been there for years so there can't be a mortgage.
- The seller assumes the buyer is going to take all necessary precautions to protect themselves because they are paying tens of thousands of dollars to buy real estate.
- The buyer assumes the owner will help out if any issues arise after the transaction is Closed.
Worst yet, is the fact that these assumptions often create buyer's remorse and sellers looking over their shoulders.
I want to tell you a story about Christina. She was proactive, just like many of our clients. Of course, I would never disclose confidential information so the names and identities have been changed but the facts remain the same. Christina, a recent college graduate, wanted to buy a home and wasn't sure what to do. Christina’s mom had done some leg work with finding a home and getting the seller to agree on a price. But she didn't know where to go from there. They had the money and were ready to get the keys and move in to the new house.
Christina and her mom contacted our office to schedule an appointment. It was a good thing that they did because they learned that there’s a lot more to the transaction than paying for the house and getting the keys, like making sure there are no mortgages or encumbrances on the property. The house had both a mortgage against the property and someone had been living in the property making a claim against the property. We were able to help Christina and her mom take care of the mortgage and other encumbrances so that they could own the property free and clear of any defects.
It’s a good thing that Christina and her mom came when they did, otherwise Christina would have been in jeopardy of losing her home to the bank or that guy who was living in it. Remember, no two cases are exactly alike and not all cases get the same results. We helped Christina and many others in similar situations.
Proactive people do just what Christina and her mom did. They seek out someone who can guide them away from the feelings of disappointment and resentment towards the other party.
Our attorneys handle every aspect of any type of real estate legal matter with efficiency and skill. We pride ourselves on keeping our clients informed at each step, empowering them to make the important decisions that need to be made. Many people mistakenly believe they can buy or sell a property without hiring an attorney and then end up in either legal or financial trouble that could have easily been avoided. When you hire Littlejohn Law LLC to assist with the following real estate matters, you can be sure that your interests will be protected:
- Document preparation and review. Real estate deals involve a lot of paperwork and making sure all documents are legally binding and work to benefit you is the key to a successful real estate deal. We prepare and review purchase agreements, mortgage documents, title documents, transfer paperwork, and more.
- Closings. We represent our clients at closings, making sure everything is in order before the meeting and holding all parties to their agreements throughout the process. When real estate transactions fall apart, it often happens at closing. We make sure our client isn’t left holding the bag when things go south.
- Titles. When you have your own attorney conducting a title search and taking care of any other title concerns, you know your investment will be protected.
- Commercial Closings. As a business attorney we know it is hard to find someone who is experienced with handling commercial real estate closings.
Our real estate services are not limited to these areas. Whatever your legal needs are when you are buying or selling residential or commercial property, we are here for you. We also provide a 7 Day Cash Closings for Residential Real Estate Transactions.
We Educate Our Clients So They Are Always a Part of the Process
At Littlejohn Law LLC, we are dedicated to educating and supporting our clients in their understanding of the real estate transaction process. We provide information and resources on our website so that you see the whole picture and can make informed decisions for yourself with our guidance. Our goal is to create a relationship with our clients that is built on trust and understanding. We will take the time to get to know you and your goals in buying or selling property—whether residential or commercial—so that we are always on the same page. We don’t see ourselves as working for our clients, but with them to achieve their goals and protect their interests.
