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 June 2013

Real Estate: Buying A New Home?

 

 

 
Greetings! ,
 
      After several years of recession, home prices are beginning to rise. The recent sales increase may be driven by low interest rates, rising prices of rental property, influx of cash buyers from overseas, and few newer constructions to name as examples.  It is important to know your legal rights and responsibilities when buying, selling or dealing with a real estate transaction.

 

       In fact, Real Estate law encompasses a wide range of property law such as easement disputes, foreclosures, injuries, property taxes, neighbor relations, property deeds, real estate warranties, different types of mortgages, insurance, and other complicated issues. One of the largest financial transactions in an individual's life may involve purchasing a  home.  Undeniably, purchasing a home involves the ability to pay or finance for the new home, how to make an offer and how to calculate the proper amount to put as a down payment. Owners can protect themselves from possible issues and problems after closing by involving a real estate attorney.   
 
 

     To avoid potential problems currently or in the future, it is important to have a real estate attorney who is only looking out for your best interests, concerns, and review all real estate documents for accuracy and protection. Did you know disputes over real estate are not just limited to the transaction process (such as construction contracts, defects, title, and deed problems)?  Real estate issues are common when a homeowner can no longer make mortgage payment(s). For example,  depending on terms of the mortgage agreement, a mortgage lender or servicer may foreclose on the property.  A real estate attorney can work with your mortgage lender or servicer to prevent your property from ending in a foreclosure.

 

     As another example, landlord and tenant laws differ from State to State.  Whether the landlord and tenant dispute results in an eviction, the return of a security deposit, property maintenance, or any other matter arising from the lease agreement, both the landlord and tenant have specific rights provided by law.  These laws are available through several resources, however, an attorney can help to explain and discuss them further. Do you know your rights if you are a Landlord or Tenant?

 

      In conclusion, as the home prices fluctuate you may consider buying, selling, or leasing a property. Please keep in mind the various legal issues that may arise and feel free to contact me if you have any questions or concerns in regards to real estate.

 

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Sincerely,
  

Tushaar Desai
Desai & Maya, PA

1540 Lake Baldwin Lane

Suite B

Orlando, FL. 32814

Tdesai@Lawyer.com