Posts tagged with: real estate investment
Real estate today can be fraught with difficulties. Laws change and problems arise. You may find yourself in a position when you need an attorney. Most people don’t realize that there are attorneys who specifically work on real estate law. Whether your business ventures include residential or commercial real estate, having a qualified real estate attorney in your corner can save you a (potentially) huge amount of money.
What do real estate attorneys do?
Real estate attorneys are specifically qualified to work on all (or most) angles of real estate law. It’s easy to wonder why there would be such a specific need for lawyers in real estate, but the fact is, California state has some of the toughest environmental laws in the country. These are constantly changing, and can be very difficult for a lay person to understand, let alone navigate on their own.
Residential homeowners by themselves face all kinds of legal difficulties, whether it’s purchasing a home, or managing a property. Just buying a home implies that the potential owner is responsible for everything. This includes appropriate home valuation, contracts, Home Owner’s Associations, earth movement issues (coastal properties), foreclosures and all aspects of getting a home loan (predatory lending).
Facing these by yourself can be daunting. It can also cause you money in the long run if you fail to file an appropriate paperwork with your county or state. You can be brought forward in a lawsuit for a simple failure of disclosure for any number of reasons. This is why you should protect your money, and hire a competent real estate attorney in San Diego to help mitigate any risks in your investment.
Let’s take an in-depth look at a few reasons why you should have a San Diego real estate attorney on your side.
Predatory Lending and Foreclosure
With the housing collapse not far behind us, light was shone on the massive predatory lending problem in this country. A lot of good people lost their homes because of this. Average people failed to protect themselves by neglecting to have an attorney do an independent valuation of the home they were purchasing.
Average people were not the only culprit’s in this. Banks and mortgage lenders were seeking out people and offering them mortgages on terms that they could not afford. Taking advantage of the market, the banks seized the properties and foreclosed on many hard working American’s. Having an able real estate lawyer on their side could have helped these people bring logical claims to a jury that they were singled out with a predatory loan.
Earth Movement Issues
Occurring mostly in coastal areas of California (but not always) earth movement can potentially destroy foundations, and even entire homes. Imagine your home falling away from beneath your feet. Without an attorney, you may not be compensated for your loss, even if the city or county was responsible for construction that caused it to happen.
Home Owners Associations
Home Owners Associations have laws all their own. These can be extremely complicated, and are potentially fraught with lawsuits and issues. An attorney can help you understand exactly what you are agreeing to when you sign an HOA contract while purchasing your home. They can assist you in elections, as well as any internal disputes you may have within your Home Owners Association.
Do I need an attorney?
If you have an issue with your home, business etc., and you are considering hiring an attorney, you should probably start looking for one. Often times, you can find lawyers who are willing to consult with you, and at least advise you on where you should go next.
If you feel like it is a simple issue, or you would just like to handle it yourself, there are legal self-help clinics available at your local courthouse.
There are drawbacks however when you try to negotiate laws yourself. The most important is that you may find later that you were not quite as thorough as you should have been. Saving money by not hiring an attorney may cost you more in the end.
How to find a real estate attorney
Most people will tell you, the best way to find a good, fair attorney, is by word of mouth. Asking a trusted friend, colleague, co-worker or relative may give you peace of mind in knowing the integrity of the professional. One drawback on this, your source may be biased in some way, so it’s best to look up the attorney in the Bar Association to check on your own.
Newspapers and magazines often do editorials on professionals who offer services in your area. These are often competent, able lawyers who are stellar in their field of work. Keep in mind this can have the same problems as asking a friend. Newspapers and editorials can be biased as well.
Another great way to find a trusted real estate attorney in San Diego is to go straight to the source. The California Bar Association has detailed information available on every licensed attorney in the state. They maintain records of schooling, as well as any professional misconduct that may plague an attorney’s reputation. These are unbiased and completely safe to trust.
When all else fails, use the internet. With a plethora of information at your fingertips, you can find many available attorneys waiting to help you.
A few tips to remember when meeting your attorney
Once you have found a real estate attorney San Diego, you have to be prepared to meet with him. Be professional, and be prepared. Gather all of your documents before you go. Make sure you are well prepared and make it a business meeting. It is your money after all. Please also be advised that no attorney should be promising you the world. If he does, this should raise some questions, as no professional attorney guarantees any kind of result.visit http://www.pionline.com/article/20150911/ONLINE/150919965/calpers-adds-4-billion-in-real-estate-commitments and get additional information about real estate investment.
Before you endeavor into the complicated arena of real estate law by yourself, you may seriously want to consider hiring a quality lawyer. When investing so much, anything else could be a serious risk to your finances.