I am constantly amazed as to how many home buyers purchase their homes without the benefit of an attorney that is experienced in real estate law. This is probably the largest financial transaction the purchasers have and yet they frequently go it alone. These same individuals would spend more time with many salesman picking their brain for their big screen television purchase.

Instead by retaining an attorney experienced in the field of real estate law they would know that a buyer should search for liens and/or open permits in order to avoid incurring future liability for closing those open permit, etc. A step to protect themselves would be to make sure that their contractual offer would include the requirement for the seller to close all open permits.

There are similar issues that face the seller in real estate transactions. A single seller does not have to pay taxes on $250,000 and a married couple does not have to pay taxes on $500,000 of the sale of a primary residence that you have lived in for at least two of the most recent five years. What else don’t you know?

Come into my office for a free consultation with a sale or a purchase of real estate.