Ask A Real Estate Lawyer

Business considerations often center upon the use and potential profitability of a particular property. Legal considerations deal with possible issues of liability, title issues, environmental factors, and other issues that may create legal problems for the purchaser. Due diligence is particularly important to avoid these potential problems.

Title insurance protects a buyer’s investment in a property if any right to ownership is challenged. 

Because the majority of homeowners require mortgages to purchase homes, lending title insurance is often required by the bank to protect its investment. A number of issues can affect the title of a home, including unreleased liens, improperly recorded or executed deeds or unresolved estates.

Most of the events that arise which cause problems with a property’s title typically happen before you purchased the property, but your title insurance policy provides coverage for the consequences of those events. These title issues can affect your ownership of the property, its value and your ability to sell it. Title insurance not only helps provides coverage for these losses for you but title insurer will also help resolve the title defects.

Some states require attorneys to be involved in the selling and purchasing of real estate. Connecticut is an attorney closing state. A real estate transaction can be fraught with unexpected occurrences.

For instance, there can be contractual issues that need the oversight of a legal professional. If you and your agent are concerned about a specific issue, it is best to work with a real estate attorney. For example, there may be a tenant on your new property, or you might be considering renting some or all of the property during a certain time period. Various title issues may also arise such as tax liens or unrelease mortgages. The bottom line? Real estate attorneys offer invaluable help to ensure your closing goes as smoothly as possible.

If you are buying or selling a house that has solar panels your closing attorney is going to have to ensure that ownership of those panels transfers with the sale of the home.  In most cases the panels are leased from the provider and the lease needs to be transferred to the new owner.  This process often takes a few weeks.  The new owner will also likely need to complete the provider’s credit application in order to qualify for the lease of the equipment.

Your closing attorney will complete a title search on the property you are buying as a part of the closing process.  This title search will notify the attorney of any liens, unreleased mortgages or title defects that will impact your ownership.  Your counsel will then reach out to the seller’s attorney to have them resolve these issues prior to the closing to ensure that you acquire clean, marketable title.  Your attorney will also use this title search to underwrite your title insurance policy which will help protect your investment into the future.

1. Find a real estate agent: A real estate agent can help you market your property, find potential buyers, and negotiate the sale.  The cost of an agent is outweighed by the expertise they bring to the table.  Interview a few until you find someone you like, we are also happy to provide referrals.
2. Determine your asking price: Your real estate agent can help you set a realistic asking price for your property based on market conditions and other factors.
3. Prepare your home for sale: You'll want to make sure your home is in good condition and looks its best for potential buyers.
4. Market your property: Your real estate agent will help you market your property to potential buyers through online listings, open houses, and other methods.
5. Receive offers: Once you receive offers from potential buyers, your real estate agent can help you negotiate the terms of the sale.
6. Closing: Once you accept an offer, you'll need to close on the sale. This involves signing a lot of paperwork and transferring ownership of the property.  We will be able to guide you through this process, including paying off any outstanding mortgages and closing open lines of credit.

1. Get pre-approved for a mortgage: Before you start looking for a house, it's a good idea to get pre-approved for a mortgage so you know what you can afford.  Find an experienced mortgage broker and work with them prior to starting your house search.  Buyers will want to know you can afford the house before you put your offer in.
2. Find a real estate agent: A real estate agent can help you find properties that meet your needs and guide you through the buying process.  The buyer does not pay real estate commission fees in Connecticut.  So, find an agent you like and trust and take advantage of their expertise.
3. Search for a house: Your real estate agent can help you find properties that meet your criteria and arrange for you to view them.
4. Make an offer: Once you find a property you're interested in, you'll need to make an offer. Your real estate agent can help you with this process.
5. Home inspection: If your offer is accepted, you'll want to have a home inspection to make sure there are no major problems with the property.
6. Closing: Once the inspection is complete, you'll need to close on the sale. This involves signing a lot of paperwork and transferring ownership of the property.  We will be able to guide you through this process, including completing the title work on the property to ensure that you are buying what you think you are buying.  We will also complete all the documents your lender requires for the sale to close.