Buying or Selling Real Estate in West Palm Beach? Hire a Lawyer.
With over $1.2 billion in single-family home sales each year, West Palm Beach is undeniably a hot spot for buying and selling real estate. People come from all over the world to purchase property here, but even local buyers may be surprised by how much they don’t know when it comes to transactional real estate processes and how much they can benefit from an attorney. For instance, even buyers from Florida may not be aware of the municipal and county regulations in West Palm Beach or how they apply to their specific property. Buyers from other states and countries have even more state and federal regulations and guidelines to be aware of when looking to buy. For instance, there are many state and federal considerations from a taxation perspective, such as whether there are withholding requirements, applicable exemptions, and which party is responsible for paying transfer taxes.
3 More Reasons to Hire a Lawyer when Buying or Selling Real Estate in West Palm Beach:
- A lawyer will ensure that your real estate agent and closing agent are fulfilling their legal duties to you. This is particularly helpful if you are not a local buyer and will be unable to personally oversee all aspects of the transaction. However, even local buyers benefit from the peace of mind (and protection to your wallet) that comes from being able to trust that everyone involved in the transaction is acting legally, in your best interest, and that their actions are accounted for.
- A lawyer will greatly reduce complications associated with purchasing commercial real estate. Many people have purchased commercial real estate in West Palm Beach with the intention of starting a business only to run into massive roadblocks, such as zoning restrictions, easements, environmental protections and restrictions, and past tenant claims. If you are planning on starting a business in Florida, it’s important to invest in the right ways, and one of the best ways you can invest in a strong foundation for your Florida business, is by hiring a local, experienced West Palm Beach Real Estate Attorney, to review potential properties for any possible legal issues and oversee the entire transaction. The property for your businesses is likely one of the largest expenses, if not the largest expense, involved in your investment, so it makes sense to protect it by hiring a licensed attorney.
- Hedge your bets, rather than accepting “buyer beware” as a rule. An experienced West Palm Beach Real Estate Attorney can review possible properties for red flags and potential legal/liability issues, help buyers trouble-shoot challenges that arise throughout the process, and incorporate language into the purchase agreement that addresses any concerns the buyers may have about the property, appraisal value, or honesty of the sellers.
What to Do Next
If you are considering buying or selling property, it’s important to consult with an experienced West Palm Beach real estate attorney to ensure that you are fairly represented throughout the transaction, that your investment is protected, and that you achieve your desired outcome. Contact the Law Offices of Larry E. Bray to schedule a consultation today.