Real Estate Contract Lawyer – Austin, TX
The purchase, sale and maintenance of real estate are all truly consequential situations. Real estate is often among the most valuable assets that individuals, families and businesses have access to. As a result, the contracts governing the sale, purchase and maintenance of these assets are of particular importance. Contracts are legally binding documents that must be treated with great care. Failure to ensure that the terms of a contract are fair, concerns related to the breach of these documents and enforcement issues are all serious matters. It is partially because real estate contracts are so consequential that it is important to seek experienced legal guidance from an experienced Austin, TX real estate contract lawyer before signing them, when considering whether to breach them and whenever they have been compromised. Essentially, if you have concerns related to an existing contract or you are thinking about entering into one, it is time to schedule a consultation with an Austin, TX real estate contract lawyer.
Common Real Estate Contract Challenges
There are a host of reasons why it may make sense to contact an attorney in regards to a real estate matter. If you are purchasing property, you need to make sure that the terms of the agreement are fair and that the seller is authorized to transfer ownership of the property. If you are selling property, you need to make sure that the financing for the deal checks out and that you are protected from certain kinds of liability. It is also important to ensure that contracts are complete and legally enforceable before they are signed, otherwise parties to any given contract could be legally vulnerable down the road. Similarly, if an issue with an existing contract arises, it is best to seek legal guidance instead of making assumptions about the situation. Failure to seek guidance could lead to significant negative consequences for a myriad of reasons.
Legal Guidance Is Available
If you are purchasing or selling real estate or are otherwise staring down a challenging real estate issue, please do not hesitate to connect with an experienced Austin, Texas real estate contract lawyer today. Too often, individuals only consult attorneys once they find themselves in seemingly insurmountable legal situations. In reality, it can be very beneficial to contact an attorney proactively. The legal team at Gray & Becker, P.C. has extensive experience dealing with a variety of real estate contract issues and we would be happy to help you either work through a legal challenge you may be facing or help you to avoid encountering legal challenges in the first place. Whether you are struggling with the terms of a real estate contract, are thinking about entering into a real estate agreement or simply want an experienced Austin, TX real estate contract lawyer to review a real estate contract before you sign it, we are here to help. We look forward to speaking with you.
Real Estate Contract FAQs:
How can an attorney help with a real estate purchase or sale? Purchasing or selling a home or commercial property is a complex transaction. It is also most likely one of the largest financial transactions you may deal with in your lifetime, making it all the more important to ensure that your interests are properly protected. A real estate attorney can help by guiding you through every step of the transaction, conducting a deed and title review, reviewing and explaining all documents before you sign and otherwise protecting your legal rights. This can facilitate a faster and more beneficial transaction while avoiding costly, unnecessary delays or expenses.
What is a deed? A deed is a legal document that transfers property from one party or parties to another. This is one of the most important documents associated with a real estate transaction.
Why is a title review important in a real estate transaction? A title is a document that shows evidence of right or ownership of real property. If you are purchasing a home or commercial property, it is important to make sure the title is reviewed. The proper transfer of ownership will depend on whether the title is clear and can help you avoid future problems if you wish to sell the property at a later date.
When a real estate dispute arises, is litigation the only option? Disputes are possible in any legal field, including real estate. If you are dealing with any type of real estate dispute, such as a property defect or boundary dispute, you may be able to resolve the matter outside of the courtroom through negotiation. This will usually be an attorney’s first course of action, with litigation only considered if it is impossible to reach and out-of-court agreement.
What are some situations that may result in real estate litigation? Real estate litigation may arise from various issues. Some possibilities include: boundary disputes, homeowners association disputes, construction defects and delays, property defects, breaches of contract and landlord-tenant disputes.
What is a short sale? A short sale involves the sale of real property at less than is currently owed on the mortgage. A short sale may be a way for a homeowner to sell a property that they can no longer afford. To properly approach a short sale, however, it is important to ensure a written agreement is reached with the lender so the borrower is not held liable for the balance remaining on the mortgage.
Understanding Rental Properties
Before you reach out to a real estate contract lawyer in Austin, TX for assistance with drafting a contract or lease agreement, it is important you understand some laws and rules. If you don’t understand what is written below, you can ask your Austin, Texas real estate contract lawyer for further information.
Many property owners decide to invest in rental properties as a way to ensure a steady income and savings. However, as anyone who has ever decided to become a landlord can attest, there are issues that come up that can cause major headaches if you do not have a skilled real estate attorney representing you.
For example, a tenant who doesn’t pay their rent or that damages the apartment or home they are living in can result in the need to go to court. There are also landlord-tenant laws that property owners must follow and can result in expensive fines and lawsuits for failing to do so.
If you are a landlord, the following is a brief overview of some of these issues. For more detailed information, contact a real estate contract lawyer in Austin, TX, such as one from Gray & Becker, P.C. for help.
The majority of landlord-tenant laws are on the municipal and state level, however, there are federal laws that a landlord is required to follow, including:
- The Fair Credit Reporting Act: Today, many landlords screen tenants before renting to them. This screening can include the prospective tenant’s credit history and criminal history. In order to access any background information, the prospective tenant must grant the landlord permission. If the landlord decides to not rent to the person because of information contained in their credit report, the landlord must inform of the reason for the rejection or give them a way to obtain the information of why they are being declined.
- The Fair Housing Credit Act: This law forbids property owners from discriminating against tenants because of their race, color, national origin, sexual orientation, religion, or disability. Not only are landlords forbidden to refuse housing based on discrimination, they are also not allowed to use any discriminatory remarks in advertising or marketing the property.
State and Municipal Laws
As a real estate contract lawyer in Austin, TX might explain to you, every state also has laws in place that protect tenants, so it is important for property owners to be well versed in these laws in order to avoid any legal issues. The majority of these laws concern basic protections, such as how long a landlord has to return the deposit of a tenant who moves and what process a landlord has to follow to evict a tenant for nonpayment of rent.
The majority of municipalities also have laws in place that landlords must comply with. These often have to do with the type of building codes and regulations over what is required in order to rent the property. For example, all municipalities require some type of smoke/fire detection alarms in rental properties. There are also requirements for lighting in common areas and handrails on stairs. Landlords are required to obtain compliance certificates in order to rent property, which involve a town or city official inspecting the property to make sure that all safety requirements are met.
Some of this information may be included in your contract or agreement. It is advisable to speak with your real estate contract lawyer in Austin, TX for further details about what should be included in yours.
Contact a Real Estate Contract Lawyer in Austin, TX Today
If you are considering or involved in any type of real estate transaction, contact an Austin, TX real estate attorney for contracts from Gray & Becker, P.C. today to set up a free initial consultation.