Are you considering purchasing a residential house? Or are you someone who has their eyes on a piece of land that can be a perfect place to build a mall? Perhaps, you are trying to build some multi-family units to help people live easily and in a proper family structure. Whatever your needs are, when you are thinking of entering into a real estate transaction, it is best that you get the help of a legal expert i.e. a real estate lawyer. The problem here is that you will often find people who will advise against hiring one.
AsafIzhak Rubin says that this is the worst piece of advice that you can get from anyone. The upfront costs of hiring a lawyer to help you with your real estate matter are dwarfed by the waste of money that can result when a transaction fails or goes awry. Let’s see what more Asaf Izhak Rubin real estate lawyer has to say about this matter.
You Could Lose Everything
A lot of people have a completely skewed view of a failed real estate transaction. They believe that when a real estate transaction fails, they just end up paying more money for something that could have been bought for a smaller price. That’s not the only issue. The thing is that you could end up losing everything you have invested in a property if you don’t pay proper attention to the details. For example, you might end up buying a house with forged documents. Yes, that’s possible and usually in real estate news almost every day.
In other instances, you might end up purchasing a piece of land that is a zoning nightmare. You can’t get bank loans to build anything in such a place unless you receive proper authorizations. Until you do, you are only spilling your money down the drain.
You Can End up in Bizarre Situations
At times, the person selling you the house is only getting rid of their pain and making you suffer from it. For example, a house might have proper ownership documents, but the problems are in other areas. What if the neighbor is a nightmare? There are boundary overlapping issues that you can’t resolve. In other cases, you might end up in a house that has already received a notice from the taxation department. What it means is that the person who has sold you the house did not pay any property tax on it. However, by the time you discover this truth, they are already out of the picture.
Even if you are somehow able to resolve the matter with the tax management authority, you will end up spending a lot of time and money in doing so. You can then add those costs to the price of the house and then figure out how much you bought the house for.
You Avoid the Unforeseen
The house buying process can be very stressful and cause people to lose focus from the most important things in life. When you buy your first house, you have to make sure your job is stable and that your growth is imminent. However, the stress of buying the house, completing the documentation, meeting several officials, meeting with real estate agents and the sellers, etc. can cause you to lose focus from your job. This can jeopardize your job and eventually put you in a situation where you think you will not be able to pay your mortgage payments. AsafIzhak Rubin says that a real estate lawyer can take this pain away from you and allow you to focus on things that matter to you.
When you look at it, even buying a house might seem like a lot of expense upfront. However, the convenience, calm, comfort, and ease that comes with having your own house is worth every penny spent. To make sure you complete the process of owning the house without any interruptions, make sure you have hire the services of a professional and seasoned real estate lawyer.