Home ownership is a goal for many Indianapolis residents. It can take a long time and a lot of saving to have the money for a down payment. Once an individual is ready to take the plunge into owning real property, they may have a lot of questions about how to proceed.
It can be helpful for a prospective home buyer to associate themselves with a real estate attorney who can provide them with specific counsel on the legal matters that arise during their transacting. This post does not offer any legal advice. All legal issues discussed herein are mentioned generally and should not be applied to specific legal cases.
Questionable property conditions
After finding their dream home, a prospective buyer may want to close as fast as possible so that they can move into their new residence. However, certain inspections must be undertaken before closing to ensure that the home is in appropriate condition. Inspections can reveal problems with improvements that were not done to building codes, infestations of termites and other vermin, and even the presence of hazardous materials.
When dangerous or questionable property conditions exist in a home, a buyer may not know what to do. Their attorney can advise them of their options, depending on where they are in the purchase process.
Reviewing title to a property
Title is an important concept in the real estate world. It describes exactly what is included in a tract of property and who has ownership interests in it. During a title search and review, an individual may discover that easements or other clouds of title exist that may impinge upon their rights to own their desired property outright.
Not all title issues can be cleared up easily. However, before stepping away from a real property purchase, it is useful to have an attorney review the title and its inclusions. There may be options to fix title problems and secure smooth transfers of property between buyers and sellers.
These are only a few of the issues that can come up in real estate transaction. Real estate attorneys can be valuable assets to home buyers throughout the San Jose area. Before signing a purchase contract, legal consultation can be wise for both first-time and experienced home buyers.