Real estate transactions can be complex and present a variety of legal issues and potential hazards. From buyers who feel that the property was misrepresented, to sellers who may or may not adhere to certain deed restrictions, to all of the laws surrounding fair housing, antitrust, and other liability concerns, there’s a lot to keep in mind when dealing with when you’re looking to buy, sell, or lease a property.
Whether your issue is simple or complex, it can be helpful to have an experienced guide on hand to escort you through the process and protect you and your business from any potential legal issues.
Here are just a few of the common real estate legal matters that our experienced team of real estate attorneys handle regularly:
Contract Disputes
A contract dispute occurs when the negotiated price of a real estate property is disputed by one of the parties involved. Once the initial contract has been signed, but the sale has not been completed, disputes can arise over things like purchase price, closing date, condition of the property, the type of deed, and more. This can also happen over closing costs, if one party or the other believes the contract terms were misrepresented, or over which local laws apply to the purchase contract. A real estate purchase contract is incredibly complex, and either party may breach the contract by violating one of the terms agreed upon as the sale process proceeds. Resolution of such disputes requires a skilled attorney and a careful reading of the purchase contract.
False Advertising
Real estate advertising must comply with state license regulations and the REALTOR® Code of Ethics, and misleading or unlicensed advertisements can have serious legal consequences. These laws are in place to protect prospective buyers, so that what you see is truly what you get, and so that the seller will not be accused of misrepresenting their property. As such, it is essential to ensure that all your real estate advertisements adhere to state licensing laws and present an accurate depiction of your property—including on the Internet—in order to avoid any potential legal issues.
Misrepresentation
One of the most common real estate legal issues is misrepresentation, or the misstating of some feature of the property by the seller or the seller’s representative, whether intentional or not. This may involve a foundation issue, a property boundary, or an environmental problem. To protect yourself against misrepresentation liability, ensure that your property is thoroughly inspected and that you document those sources for the buyer—and then they must sign a seller disclosure form. By doing so, you are ensuring that the buyer knows exactly what they’re getting into, and you’re protecting yourself from any potential legal issues down the line.
Real estate litigation can often be very complex and is best handled by an expert. If you feel a little out of your depth when dealing with these matters, don’t be afraid to hire an experienced attorney to help you make sense of the process. From contract disputes to quiet title action, our lawyers are prepared to deal with even the most difficult problems that your real estate transaction may present.