Whenever you are considering a real estate transaction as a buyer, seller, leaser or leasee, you need to ensure that you are making informed choices. A real estate transaction involves large sums of money, whether the transaction involves residential or commercial real estate. Real estate is not a very liquid investment, so it can be difficult to get out of a bad investment you have made. You could also assume significant financial risk and experience major monetary loss if you make a bad deal.
Because so much money is involved and real estate transactions are so complex, it is almost always a good idea to consult a Las Vegas real estate lawyer before becoming involved in any real estate transaction. An attorney at Pintar Albiston, LLP can provide you with assistance in all aspects of the real estate deal. From negotiating contracts to securing favorable financing to doing your due diligence on the property, an attorney can be there for you to help ensure that you are fully informed about the nature of the transaction. With good legal advice, you should know what your rights and obligations are, what the risk of the transaction is, and how to protect yourself in the long-term.
Why Should You Consult a Las Vegas Real Estate Lawyer?
It is important to consult a Las Vegas real estate lawyer for many reasons. Some of the key advantages to having legal representation include the following:
- Your attorney can review contractual agreements and negotiate contract terms. You want to ensure that the contract is fair or even favorable to your interests. There are different provisions you will want to have included depending upon the type of transaction and your role within it. For example, in a commercial lease agreement, you will want to ensure you have the right to renew the lease at the end of the term and you may want to limit whether the landlord can rent adjacent units to direct business competitors. In a residential purchase agreement, you may want to ensure the contract is as is when selling a property so you reduce future risks of liability. Your attorney will help you to understand the types of provisions that can benefit you and will try to negotiate to have those provisions included in the contract while still moving the deal forward to an agreement acceptable to all parties.
- Your attorney can assist with due diligence. You need to conduct a title search and ensure that there are no liens on the property, but you may need to do more than that. For example, when buying a commercial property, you need to ensure that the property’s environmental past will not come back to cause problems that you could be responsible for cleaning up. You also want to check zoning laws and other restrictions on property use. Your lawyer will help you to conduct comprehensive due diligence to ensure you understand exactly what rights and risks you buy with the property transaction.
- Your attorney can help you to secure favorable financing. A good loan package is a key part of a successful real estate transaction.
These are just a few of many reasons why it makes sense for you to consult a Las Vegas real estate lawyer. Contact Pintar Albiston LLP today to speak with an attorney who can help you.
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