Do I Need a Real Estate Attorney?

New Mexico Real Estate AttorneyWhether buying a home or a commercial property, the task can be daunting. Many times the buyer or seller may not know where to start and may not desire to enter into a contract with a realtor for various reasons, normally including the added expense. This can occur when the transaction is too small to provide a sufficient commission which may cause a realtor to lack motivation to list the property because the workload simply makes closing the transaction uneconomical. Additionally, easements, restrictive covenants, or contract issues may require specialized knowledge regarding these topics in order to effect the transfer. In such cases it may be advisable to contact an experienced New Mexico Real Estate Attorney.

A knowledgeable real estate attorney can answer many of these questions and work to protect you from entering into a purchase agreement that can jeopardize your use and enjoyment of the property or open you up to unanticipated liabilities. A real estate attorney can also prevent you from entering into an agreement that has hidden consequences. An experienced real estate attorney can provide the necessary protections that can be afforded by document review and careful attention to detail in the drafting of legal documents.

Some of the questions that may increase the likelihood of your need for a real estate lawyer as a Buyer are:

  1. Whether the real estate is bank owned
  2. Whether the property is distressed
  3. Whether the property is a commercial property
    1. If so, whether the property is currently occupied by tenants
    2. Whether you are purchaser from out of state

A Seller’s likelihood of needing a real estate attorney is increased if the following issues occur:

  1. The Seller shares ownership with another party
  2. Whether there is a problematic title or an inability to obtain title insurance
  3. Whether the Seller is out of state
  4. Whether the Seller would like to offer special financing options
  5. Whether it is a commercial property

When buying or selling a property a number of factors may impact the use, enjoyment, and marketability of a particular property and like the property, each transaction is unique and contains its own peculiarities  These qualities many times require the eyes of an experienced professional to guide you through the process. Many times, the extra time spent consulting an experienced real estate lawyer can save untold amounts of time and money in addition to avoiding a transaction that may cause unnecessary headaches for many years to come.

Call now for a free consultation:

(505) 234-7007

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Albuquerque Legal Resource
3500 Comanche NE, Bldg. B.
Albuquerque, NM 87107
Phone: (505) 234-7007

Albuquerque Lawyers that can assist clients with bankruptcy, business law, criminal defense, divorce, estate planning, family law, personal injury, probate, real estate, taxes and more.
3500 Comanche NE, Bldg. B
Albuquerque, NM
Phone: (505) 234-7007