If you’re looking at a particularly tricky real estate purchase, working with a seasoned real estate lawyer is of the utmost importance. There are several key factors of any real estate transaction, and likewise, there are a few questions that should always be asked and answered before buying the home of your dreams. Below are some questions for your lawyer that may help you get a better handle on your real estate situation.
Ask a Real Estate Lawyer These 3 Questions When Buying a House
When Will the Inspection Be Performed?
At what point the inspection is performed is largely dependent on the terms of the contract itself. Some contracts will include language outlining certain issues that, if found during a home inspection, will allow you to break the contract after it’s been signed. In other instances, you may wait to sign a contract until after the inspection is performed. While this will allow you to walk away from a sale in the event you’re not happy with the findings of an inspection, you could risk losing the home to another buyer.
Can the Seller Accept a Higher Offer After I’ve Already Made Mine?
Sellers are entitled to accept a higher offer after an initial offer has been made. Until a contract has been signed, the sale is not legally binding. Ask your lawyer when they advise it’s best to put pen to paper.
Does the Property Deed List Any Restrictions?
You’ll also want to inquire about any restrictions listed on the deed. For instance, residential properties are often restricted from housing businesses, while there might also be limitations on any alterations made to the home. It’s important to know about restrictions ahead of time so you can be sure that a potential property is right for you.
If you need a real estate lawyer in Rochester, NY, Steve Butcher Sr. offers considerable legal skill, which has made him an asset to both local home sellers and buyers. Learn more about the full range of legal services currently available by visiting the website. You can also call (585) 263-2444 to schedule your consultation today.