Buying and selling real estate is often one of the most important decisions people make in their lives. As a proponent of trying to smooth out any possible hiccups in all real estate transactions before the closing, this is not always the case. In order to do make it as smooth as possible, for starters, you may be well-advised to consult an attorney prior to making an offer to buy or sell a property. Reason being, a property may have open building permits where additional work is incomplete; there may be encroachments to the property that affect the conveyance of clear title; the property may contain buried fuel tanks, lead, or elevated radon results. All of these issues will need to be addressed prior to the closing. While a seller of a property will be required to disclose any of these issues at the contract formation stage, if the seller is unable to do so, a closing credit may be required towards the purchase price.
Ideally, all parties should work together from the beginning, brokers, attorneys, and clients alike, to ensure that these issues are addressed in a timely fashion. Contact us today to assist you with your real estate transaction and help ensure that it is as smooth as possible.