Real Estate Law- Buying or Selling a Home

Leaving property to your family is a goal for many people. We can prepare documents that would allow you to maintain control of your home and your family would receive it without going through probate.

Also selling and buying a home can be very complicated and expensive=even if using a real estate agent. Many situations can cause expensive issues such as inspections. Our real estate attorney can protect your interests and save you time and expense, and reduce your stress. Buying and selling a home is the most expensive transaction most people deal with in their lifetime.

Our real estate lawyer can provide invaluable insight if issues arise during the sale, such as these:

  • A For Sale By Owner (FSBO) arrangement is the process of selling your home without the representation of an agent. We can guide you through the numerous steps of the process and provide invaluable insight if issues arise during the sale.
  • You’ll need to settle any existing judgements or liens on your property before you sell your home. Our real estate attorney can help you negotiate payment with creditors or lienholders and ensure that these hindrances are removed.
  • Title issues can derail a sale.  Illegal deeds, clerical errors or even previously unknown heirs can delay your home sale. We can help you to resolve these issues.
  • There could be a restrictive easement on your property that scares away potential buyers. Our real estate attorney can determine the durability of the easement and possibly terminate it altogether.
  • Some married couples split up and selling your shared home can be complicated if both parties are named on the mortgage and deed.  If you’re already divorced or in the process, we can help unravel your home’s ownership and manage the disposition of the home, closing signatures and proceeds from the sale.
  • If you’re in financial trouble, our real estate lawyer can help you reach a deal with your mortgage provider to adjust or refinance your loan and avoid foreclosure. If this isn’t an option, we can help you negotiate a short sale with loan forgiveness and any other requirements that will help you move forward.
  • Renters may create unwanted complications when you wish to sell your home. Tenants have rights and you need to respect those rights legally. In addition to any lease agreements, there are laws governing evictions and landlords. Our real estate attorney can help manage the tenant aspect of your home sale carefully to prevent legal action
  • Inheriting a home from a family member can be complicated and trying to sell that home adds trust and tax implications that make the process even more perplexing. Our real estate lawyer can ensure that everything is done in accordance with the law and that your inheritance doesn’t become a financial monkey on your back.

Real estate attorneys address matters related to property, from transactions to handling disputes between parties. We help you to resolve real estate issues and avoid the time and high costs of going to court. If necessary, we offer mediation as well as negotiation in our practice on zoom or in person.

 Real estate law covers deeds, property taxes, estate planning, zoning, and title.

We prepare and review documents relating to purchase agreements, mortgage documents, title documents, and transfer documents. Our real estate lawyer will handle the real estate transaction and attend the closing with the buyer. Closing is when the money is paid and the title is transferred. The attorney is there to ensure the transfer is legal, binding, and in the best interests of the client.

Real estate attorneys help facilitate real estate transactions. We review contracts, negotiate agreements between buyers and sellers, give title opinions, attend closings, and more.

Hiring a real estate attorney may be a wise investment, especially for short sales, if you’re buying or selling from out-of-town, or in situations with tricky property concerns.

CALL FOR A  CONSULTATION

PHONE: (623) 628-1110
FAX: (623) 240-2609

Arizona Mobile Attorneys

Recent Posts

Aging Parents and Financially Troubled Children

Q.           I am retired and my adult child is borrowing money from me. There is nothing in writing and I am worried about getting paid back. I also want to be fair to my other children when I die. How do I handle these issues?

A.            This is a common problem in a sluggish economy that is forcing adult children to turn to their aging parents for financial assistance.

A written promissory note should always be used when loaning money to a family member, including a child. While it may seem impersonal and cause some tension, it imposes legal responsibility and, in some cases, dealing with personal responsibility is exactly what the child needs. This also makes sense because an aging parent has taken care of the kids. It’s time to worry about oneself. An aging parent has a retirement and increasing healthcare needs to finance. Children who are forced to borrow money are certainly in no position to help. In this context the promissory note itself becomes very important for an older person to preserve financial security.

Many people recite a loan to an heir in their trust or will and attempt to deduct it from the child’s share. While this is one approach, the promissory note approach is a better foundation for imposing fairness. It can be enforced after death to continue payments to the estate which can then distribute the proceeds accordingly.

Sometimes an older parent will want to provide a loan to a child to help with a first home purchase. In situations where real estate is concerned it is also important to secure a loan with a lien, especially for protection in the event the child divorces a spouse or other financial issues come into play regarding that child and their ability to continue to own the purchased home. This will provide the older parent with necessary security if things go awry.

It is highly advisable to consult an elder law and estate planning attorney when considering a loan to a family member to avoid these pitfalls. Arizona Mobile Attorneys is ready to provide solutions to these problems.

CALL FOR A  CONSULTATION

PHONE: (623) 628-1110
FAX: (623) 240-2609

Arizona Mobile Attorneys

© 2022, Michael G. Kelly

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