COMPELLING REASONS TO SEEK SERVICES FROM A TDD REAL ESTATE ATTORNEY
May 4, 2020
Are you involved in a dispute with your neighbor or the other owners of the property? Do you have a question regarding easements or mechanic liens? Are you hoping to make some investments in real estate?
Maybe you're trying to sell your property for sale by owner and need help figuring it out.
These are all good reasons you might want to contact a real estate attorney.
You might be involved in a real estate situation and are wondering if you need to hire an attorney to help you.
Read on to learn about real estate attorneys, what they do, and how they could help you.
Role of the Real Estate Attorney
There are numerous roles a real estate attorney plays for both your personal and for commercial or business use.
A real estate attorney can help with real estate litigation if you are in a dispute over property by filing a partition lawsuit or quiet title lawsuit.
If you are purchasing a piece of real estate that has complications in the sale. Or perhaps you are buying a home that is for sale by owner. You will want to hire a real estate attorney to protect your interests through the buying or selling process.
You might be looking to buy some real estate to add to your investment portfolio. Many people opt for summer homes, vacation homes, and even out of state homes as a tax benefit. This would be a wise time to hire an attorney to review both the tax and real estate laws.
Perhaps you are looking to buy a piece of commercial property as an investment or your business wants to invest in more commercial real estate to expand. Commercial real estate is more complex than personal real estate and you would want the guidance of an attorney who knows the laws in your area.
Who Needs a Real Estate Attorney?
Often when you are involved in purchasing or selling property, there is a real estate agent involved. You might be wondering if you really need an attorney too. If you are at all concerned about the documentation of the sale, the skill of the real estate agent or want to protect your interests as a seller or buyer, then it makes sense to hire an attorney.
Others who might want to consult with an attorney specializing in real estate include:
Landlord setting up lease agreements
Investors who want to own property in a Limited Liability Company
Owners of multiple properties wanting tax breaks
Business owners expanding their commercial real estate
Individuals or business owing back property taxes or capital gains taxes
The truth is real estate law is tricky and if you're wondering should I get an attorney, then the answer is probably yes.
Real Estate Taxes and Investments
There are few ways that real estate faces taxes, property taxes and capital gains taxes.
While you might not always need an attorney in regards to your property taxes, you will if you want to dispute the amount. Perhaps you think the assessor has made an error and overvalued your property which means the property taxes are too high.
If you have fallen behind on property taxes or are buying a property at a tax sale, then you definitely want to consult with a real estate attorney.
Capital gains can come into play when buying and selling real estate. Capital gains are the gains a person makes beyond what they are investing go forward after all expenses, repairs, etc are covered.
Capital gains can be tricky from a tax standpoint and often show up in real estate transactions. This is one time you'd want the professional opinion of a real estate specialist.
If you are using real estate for investment purposes or hoping to use your real estate to save on tax liability, you want the advice of a professional. Tax laws change regularly and you don't want to make a mistake if you are counting on real estate for a tax break.
Benefits of Hiring a Real Estate Attorney
Nobody likes to incur unnecessary costs, hiring a real estate attorney can often save you money in the long run. There are many benefits to consider as you try to decide if you should hire an attorney for your real estate issue.
Real Estate Laws
Real Estate Laws are complex and changing all the time. When you hire a real estate lawyer, you get someone whose job it is to keep up with those laws in your state and out of state too.
This is beneficial if you are buying a property in another state. It's also helpful if you're having a dispute about the condition of a property with codes or inspections.
Solve Read Estate Problems
Buying a home is not always cut and dry. If there is an issue of who actually owns property or there are multiple owners, you want to make sure an attorney works out the issues before you hand over any money.
Property can come with issues like border disputes, tax issues, rights to land access, for example.
Real Estate Intermediary
Real estate agents, no matter if they represent you or the other side, make money from a sale. A real estate attorney can represent you without motivation one way or the other to make a sale. Their interests are solely to look out for you.
Taxes and Investments
Like real estate laws, tax laws change all the time as it pertains to real estate. You are benefitted when you hire an attorney to handle real estate taxes or investment questions.
Get Help from a Real Estate Attorney
Real estate attorneys can help address many real estate related issues and questions. It's never a bad idea to consult with a professional to make sure you are protected yourself, your business, or your money.
If you have a real estate related question or problem, contact us today. We are here to help solve those real estate issues with our experience and professional guidance.