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SM Legal

Residential Real Estate Sales And Purchases

Construction Law
And Litigation

Real estate transactions can be complicated, even to the most experienced real estate professional. Especially if the transaction is a significant investment or involves the buying or selling of a number of properties. We have represented not only the traditional homeowner, but also commercial investors, banks, developers, and associations. So, we understand both sides of these transactions. No matter what the type of real estate transaction, it is always important to consult an attorney throughout the process, from contract to close.
Our job is to assist you in the completion and closing of your real estate transaction in the most efficient and effective manner. In the case of residential home transactions, we will assist you from contract through closing to ensure that your investment is protected.

Frequently Asked Questions

If I want to purchase real estate, what should I do to make sure that the bargain I make is binding?

Any person that wants to purchase real estate, and who wants to make sure the bargain is binding, should enter into a written contract with the seller which sets out the basic terms and conditions of the sale. Typically these contracts should include a brief description of the property, the price, to be paid, the amount of any down payment, how the down payment will be treated if the sale does not take place, when the sale will be finalized, when you, as the purchaser, may take possession of the property, whether any personal property will be included, whether or not your ability to obtain financing for the purchase of the property is a condition of your obligation to finalize the deal, and the title which the seller will be required to transfer to you. There are, of course, a host of other matters which can become a part of the written contract depending upon the particular circumstances.

If I am a purchaser of real estate, and I have a written contract, why would I need a lawyer?

Assuming that a written contract already is in place, you might wish to consult with a lawyer with respect to making sure that the title to the property you are purchasing is what is known as a good, marketable, fee simple title. The answer to this question requires the lawyer to perform what is known as a title examination of the relevant real property records. After performing this examination, you will be furnished with a written title opinion which will describe in detail whether your seller has a good, marketable, fee simple title and, if not, what needs to be done to correct that problem.

Is there any type of protection I can obtain to make certain that the title I am purchasing is a good, marketable, fee simple title?

Yes. Companies known as title insurance companies have available for sale what are known as policies of title insurance. In general, these policies protect the purchaser of the policy against any problems which may develop with respect to the legal title of the real property which is being purchased. Of course, these policies must be paid for, and must be reviewed in order to determine the specific types of protection afforded, but they offer to the purchaser reasonable assurances that the purchaser will not have title problems in the future.

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