Real estate transactions are complicated, and it’s common for issues to arise during virtually every sale. With a little help from a seasoned attorney and a lot of advanced planning, though, it’s possible to mitigate the most common disputes, which will leave only a few minor hurdles on the path to closing the sale. Below are a few tips for protecting your best interests when buying or selling a property.    

Do:

Seek legal counsel. 

For many individuals, real estate transactions are the largest sales they will ever make. When so much is at stake, it is essential to do everything possible to protect your financial security, regardless if you are buying or selling. This includes hiring an attorney, who will draft, modify, and review all contracts; facilitate the lending process; resolve any title issues; and represent you at the closing. 

Review the agreement often.

It’s natural for contracts to go through various stages of development. Though this can ultimately work in your favor if most of the changes were yours, it can also mean the final deal looks entirely different from the initial agreement. Review all contracts with a lawyer at every stage of the transaction to ensure the sale is moving in a favorable direction. An attorney will read each document line by line, but you should also have some understanding of all proposed modifications. 

Don’t:

Overlook zoning laws. 

Purchasing a commercial property with the intention of using it for one purpose only to learn it’s zoned for another is one of the biggest mistakes you can make when buying real estate. Fortunately, it’s also one of the easiest to avoid. Simply review the local zoning laws with your a to ensure whatever you envision for the property can eventually come to fruition. 

Make rash decisions. 

Purchasing real estate should never be an emotional decision. Even if you fall in love with a particular property, it is important to stand firm during negotiations. No property is worth losing your financial security over, regardless of how perfect it might seem. If you’re getting emotional about a decision, speak with an agent and attorney about the pros and cons to gain some perspective.  

If you need help navigating real estate transactions in Massachusetts, turn to Bernardini Law P.C. of North Andover. Attorney Christine Bernardini has considerable experience representing both buyers and sellers, so she knows how to draft contracts that will appeal to both parties while still protecting her client’s best interests. Call (978) 794-5525 to schedule a consultation, and follow the firm on Facebook for more tips, news, and updates.