Real Estate

LET US HELP YOU NAVIGATE YOUR HOME BUYING DREAMS

One of the first steps in buying real estate is the preparation of the offer to purchase. The offer must be in writing, signed by all parties, and it must identify all parties, describe the land, and set forth the interest to be conveyed, along with other material terms of the agreement. Material terms typically include contingencies, such as financing or selling another piece of real estate, inspections, surveys, and the review of easements or restrictions. Depending on the nature of your real estate transaction, it is very likely that terms specific to your sale or purchase would need to be included as well. Our attorneys can help you in drafting your offer to purchase, to help avoid future problems.

Document Assistance

An important document to the transaction is often the real estate condition report. The Condition Report is a document where the Seller is to disclose known defects to the property. The Seller must take special care in drafting this document. Any misrepresentation can have extremely harsh consequences. This report must be furnished to the Buyer.

Once there is an accepted offer, the next step is to prepare for closing. Again, because each real estate transaction is different, what needs to be done to close will be different in many cases. However, there are some common elements to each transaction. For example, the buyer will often need to inform the seller when conditions and contingencies are satisfied. The buyer will need to decide how they want to take the title. For instance, will the property be owned by joint tenants? Will there be a right of survivorship (whereby the property passes to the joint tenant upon the death of the other)? In addition, the title insurance commitment should be reviewed to ensure everything is in order. If it’s a rental property being bought, leases and security deposits would need to be accounted for. No matter the type of transaction, our attorneys can work with you to ensure you have everything in place for closing.

Last is the closing. At closing, the seller is paid their money, and the buyer obtains title. To accomplish this, many documents are required. These typically include a mortgage and note, a deed, closing statements, insurance documents, and affidavits, to name a few. It is advisable to have your attorney review these items for you.

Monahan & Johnson
Monahan & Johnson

We Can Help

Whether you need an attorney to walk you through your case from beginning to end or to just review documents on your behalf, our experienced attorneys at Monahan & Johnson, S.C., are there to help you!

It is important to have an attorney that knows the areas of law associated with real estate that is best for THEIR best interest.