Troy Real Estate Attorney for Buying & Selling Property
Buying or selling real estate in Michigan has the potential to be among your largest investments. Real estate is a valuable asset that requires proper consideration. When such large financial matters are at stake it is wise to consider how a Troy real estateattorney can be of assistance. Whether you are looking to buy or sell real commercial real estate, the lawyers at Hermiz Law can help.
Buying Real Estate in Michigan
A new real estate property can be the key to help your business grow. When you work with a Troy real estate attorney at Hermiz Law, we consider the following factors.
- Your financial situation. Be honest about your financial resources when deciding what to buy. Over and over, you find people who go into a buying situation with a strict monthly payment limitation and then get convinced into committing to payments that are “just a little” more than your ceiling, which means you are committing to payments you can’t really afford. As it’s often been said, luck and hope are not strategies.
- Location. Do your research on current sale prices in different neighborhoods and narrow down your options so you don’t waste time looking at properties that are out of your price range.
- Trusted real estate professionals. There are a lot of options; it’s always a buyer’s market with real estate agents. Look at an agent’s track record and be sure your personalities mesh well.
- Financing options. It’s imperative to find a lender with a strong business history and be sure to compare apples to apples; i.e., compare fixed rates to fixed rates, and adjustable rates to adjustable rates.
Selling Real Estate in Michigan
If you are ready to sell a property in Michigan, a Troy real estate attorney at Hermiz Law is ready to help you dot the i’s and cross the t’s.
Make Sure You’re the Only Owner of the Property
You must ensure you are the sole owner of the property. For example, maybe the property was bought before you were married and your spouse didn’t think to transfer the title. Or, the property may be encumbered by any number of liens, such as HOA liens or worker’s liens. What you’re looking for is a “clean” ownership status. You’ll likely need help working through this, especially if you find any encumbrances on the property. A Troy real estate attorney at Hermiz Law can help you with this.
Provide a Michigan Seller’s Disclosure Statement
Under Michigan law, a seller is required to provide a Seller’s Disclosure Statement to the buyer before accepting an offer on the property. This statement is meticulously laid out in the Michigan Seller Disclosure Act. The Act lays out the exact language the disclosure statement should contain. The purpose is to provide information on the condition of the property.
Other Selling Requirements
A Tory real estate attorney can help you with the following selling requirements and more:
- Signing a Purchase and Sale Agreement,
- Providing a Lead Paint Disclosure, and
- Signing the new deed.
A Troy Real Estate Attorney at Hermiz Law Can Help You With the Complicate Buying and Selling Process
Be aware: All of the minutia and details of the buying and selling process for real estate in Michigan are far beyond the scope of this article. Either process is detailed and complicated, and even small mistakes can lead to the collapse of the process, requiring you to start all over again and possibly lose a deposit.
At Hermiz Law, we understand all of the complex legal requirements surrounding the buying and selling process in Michigan. We’ll help you get everything right the first time, and allow you to proceed as simply and painlessly as possible. Contact a Troy real estate attorney today to learn more.