Using A Real Estate Agent Is Insufficient
While this is the custom, but it is not the best practice. The most important document in a real estate transaction is the purchase contract. Is it reasonable to delegate the responsibility of preparing a contract for one of the most important—and costly—purchases of your life to a lay person whose only education on the topic is a six-hour class?
A Real Estate Attorney Should Review The Contract
As long as a transaction proceeds smoothly, few people pay attention to the contract. But when problems develop, will the contract protect you and provide remedies? It pays to have an experienced real estate attorney prepare or review your purchase contract.
- An attorney will educate you on your rights and options so you can take appropriate steps to investigate your proposed transaction, such as when a property is sold “as is”, or there is a question of ownership and adverse possession.
- An attorney will advise you on potentially troublesome real estate transactions, such as seller carrybacks, wrap-around contracts, or sales/leaseback transactions, and will draft a contract that limits your liability.
- An attorney working on behalf of the seller can correct title problems, review and correct lease agreements, and correct title problems. An attorney working on behalf of a buyer can draft purchase agreements, review title reports and explain the escrow process.
- An attorney with knowledge of estate planning can greatly assist families in deciding how to hold title to a property, how to transfer title of a property, before or after death, and how a property can be partitioned.
- And an attorney is vital in helping to resolve disputes, through real estate litigation or real estate mediation. We often work with homeowners associations to help them resolve real estate disputes with members regarding homeowner associations’ rights and responsibilities, and with property management companies to draft leases, resolve landlord/tenant concerns, and to advise on fair debt collection practices.
Contact Our Real Estate Lawyers for a Free Initial Consultation
At Platt & Westby, P.C., we perform contract review, drafting and preparation of instruments for reasonable fees. Many questions can be answered and contracts reviewed during our initial conference which we offer at no charge. Please contact our office or call 602-277-4441 to speak with an experienced real estate attorney.
We represent borrowers and lenders regarding the anti-deficiency statutes in Arizona. These statutes generally limit the lender's remedies against the borrower after a foreclosure. Not all borrowers or properties qualify under the antideficiency statutes.
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