Real Estate Transactions And Disputes In Virginia
Anderson Legal Group, PC, represents a wide array of clients in real estate matters, including buyers, sellers, investors, small companies and real estate related businesses, as well as those looking to refinance their home. We are pleased to provide title insurance through our affiliate.
Contact us now to discuss your situation. Call 757-698-2244 or email us today. We have offices in Virginia Beach, Hayes, Newport News and Williamsburg.
For Sale By Owner
Selling as a for sale by owner, without an agent (also known as FSBO), may be quite possible in a seller’s market. Nevertheless, for most FSBOs, locating a buyer can be a challenge. Further, getting an offer is only the first step. You still have to complete the legal transaction, and many things can go wrong between accepting the offer and closing the deal.
When you’re selling your home, one of the first steps after accepting the offer is to get a purchase agreement in place. The purchase agreement is essentially a preliminary contract between you and the buyer. It covers issues such as the sale price, the closing date, and any contingencies that the sale could depend on. For example, the sale might depend on a clean property inspection or on the buyer being able to get a mortgage.
It is a good idea to have a skilled, local real estate lawyer draw up your purchase agreement. The sale of a home is a complex legal process with many potential pitfalls. Having your own attorney can make it much easier. In addition to walking you through the paperwork and ensuring your documents comply with Virginia law, your lawyer can often help you or the buyer purchase title insurance from a reputable company.
A good lawyer knows what to look for and can spot issues that could derail the sale. They can advise you on any issues that come up. They can conduct your closing. A local lawyer has probably worked with the buyer’s attorney before on other real estate transactions, and that positive relationship could make it even more likely that everything will close as expected.
If you don’t have your own attorney at the closing, a legal question might come up that you don’t have an answer to. In that case, you would need to reschedule the closing — or take the risk and close anyway. You can’t afford to take that risk. That is why it is so important to have a lawyer there to represent your interests and ensure everything goes smoothly.
The Difference Between A Title Company And A Real Estate Attorney
Your home may be the most expensive purchase that you will ever make. Don’t make a mistake and end up with a home that isn’t worth what you paid, or that has title issues or other legal problems. You can avoid those big risks by hiring a real estate attorney whose job is to look out for your best interests.
A title company is not there to represent your interests. It represents only the title insurer. Your attorney represents you. Once you hire an attorney, they will handle the entire transaction for you, answer your questions and protect your interests.
Title companies are not allowed to give legal advice. Even if the title company has an attorney running the office, legally, the transaction is their client. You are not. Your real estate attorney can review all of your documents and answer legal questions during the contract negotiation process. A title company cannot.
If an issue arises during closing, a title agent may not be able to effectively resolve it. Especially if it is a legal issue, the title agent will actually ask the parties to hire their own attorneys (at their own expense) to advise them. If the issue needs to be resolved in court, only an attorney can represent you there. Not having an attorney can delay your closing or even cause it to fall through.
At the end of the day, you need someone who is on your side. At Anderson Legal Group, PC, we strive to make your life easy by standing by you and ensuring that your closing goes as smoothly as possible.
Deed Preparation
If you need to transfer your property to another person, a deed is an essential document that must be recorded to effectively transfer the ownership. Our firm has prepared hundreds of deeds for a broad base of clients. Whether you need help receiving full ownership or want to give your ownership of the property away, we can help you at Anderson Legal Group, PC.
Call us today at 757-698-2244 or contact us online to set up a consultation.