Real estate deals rarely go perfectly — and that’s exactly why having a lawyer matters
For many people, buying and selling real estate is one of the biggest and most consequential transactions they’ll ever make. That’s why it’s important to be prepared for any legal problems that might arise.
While Indiana generally doesn’t require an attorney to be present for real estate closings, it’s always in your best interest to have legal representation both before and during the closing. An attorney can put a plan in place to avoid serious problems and address challenges that arise on the day of closing.
Title problems
In general, the buyer of real estate wants to own the property free and clear. Title issues mean the property's ownership is disputed or there are unresolved liens or other issues with the property. An experienced real estate lawyer can investigate and identify any title issues by conducting a thorough title search. An attorney can also help you obtain adequate title insurance, just in case there are any problems with the title that fly under the radar.
Zoning problems
Local zoning laws regulate land use, and that can be a significant obstacle depending on how the buyer intends to use the property. For example, if you intend to turn the property into a multi-family home and rent it out, single-family zoning could present a significant obstacle.
Sometimes, it’s possible to apply for a variance or a zoning change to allow your intended use of the property. Other times, it may make more sense to walk away from the transaction. Either way, an experienced attorney can identify any zoning problems and potential solutions before you close.
Property damage and defects
Physical issues with the property, such as damage, structural issues, or pest infestations, can cause major problems over time. A buyer’s first line of defense against these types of issues is an inspection, but you need an attorney to ensure that you have proper inspection contingencies built into your purchase and sale agreement. An attorney can also document the property's condition in writing and ensure you are protected in the event of any additional issues between the inspection and closing.
Breach of contract
A real estate purchase and sale agreement is a legally binding contract, and if the other side doesn’t hold up their end of the agreement, you have legal recourse. Your real estate lawyer can ensure that the contract is drafted to protect your interests and pursue legal action if the other party commits breach of contract.
Logistical issues on closing day
Sometimes, a closing is derailed by a factor outside either party’s control, such as the buyer’s or seller’s illness, severe weather, or an emergency. Fortunately, closing dates are usually flexible, but you still need an attorney to ensure your rights are protected and that the unexpected doesn’t ruin the whole transaction.
Talk to an experienced real estate lawyer today
The above are just a few of the issues that can arise during a real estate transaction. Whether you are buying or selling property, you need legal representation throughout the process to head off potential problems before they become costly.
Real estate attorney Janet Davis Hocker and her legal team at Hocker Law, LLC, are here to help. Give us a call or contact us online today.
"I had an absolutely superb experience. Throughout my time working with Hocker Law, I felt that I was listened to and my priorities were always respected at the forefront of any decisions. Having such a strong advocator gave me a lot of peace of mind! Would recommend without reservation!" – Bryan E., ⭐⭐⭐⭐⭐