Most people probably don’t consider hiring a lawyer until they get sued or want to sue someone. However, real estate attorneys are far more than litigation attack dogs.
They can be your trusted advisor, giving you unbiased advice, and helping you through the process to purchase a home or condominium.
- Purchasing Real Estate
Purchasing real estate is probably the single biggest expense most families will ever undertake; it pays to have a lawyer watching your back during the process. Many people retain lawyers to review HOA financial statements and minutes. Most single-family homes and all condos are covered by the HOA.
- Investigating the HOA
The HOA matters as much as the property. Are the HOAs financials shaky? Is there something hidden in the HOA board meeting minutes that might dissuade you from buying the property? For example, what if your next-door neighbor receives numerous noise complaints, do you want to live next to a loudmouth?
Real Estate Attorneys in Sonoma County are experienced at conducting due diligence investigations. A due diligence investigation is a review of contract terms, the parties, and potential issues. The due diligence review confirms that you are not going to get surprised by any hidden issues (like extraordinarily high HOA fees or limitations on the use of your property).
- Dispassionate Advice
Moreover, you can trust the advice from your attorney because he or she is the only one that isn’t getting paid for the deal to go through. An attorney gets paid whether the sale occurs or not, so there is no incentive to push you in one direction or another.
Some people with a background in finance believe that they can handle financing aspects of the deal however financing agreements are complicated. Additionally, if an HOA covers you, what are the fees, what schedule do they follow, how do they increase, and can the HOA Board levy an additional fee for communal projects?
These issues can derail a real estate deal, or at the very worst, make you regret purchasing your new home. It is far better to hire a lawyer to review the contract and get out early, than risk getting trapped on a property you no longer want.
Johnston | Thomas Attorney at Law are real estate attorneys located in Sonoma County who can provide you legal advice at any stage of a real estate agreement. Our team of expert lawyers can be reached online at www.johnstonthomas.com/contact or directly by phone at 707.545.6542. Call us today!