Whether you are buying or selling a home, investing in a plot of land, or looking to lease office space, there are a number of factors to consider before making a real estate deal. The assistance of a competent, experienced lawyer who understands the intricacies of real estate law can be invaluable in smoothly navigating these and other transactions.
At Attorney Spiros Stavros Nicolet Immigration and Legal Services, our real estate attorneys provide comprehensive legal services to our clients, including handling the full spectrum of residential and commercial transactions. We know that entering these deals can be daunting for clients who are unfamiliar with the process, and we take the time to explain the ins and outs of a particular transaction as well as advise clients of their rights, responsibilities, and options.
Our lawyers represent individual and business clients in commercial and residential real estate transactions from initial bid to closing. We have substantial experience negotiating, drafting, reviewing, and enforcing residential purchase, sale, lease, and rental agreements.
One way in which many families obtain their dream of owning a home is through a land contract, in which the buyer agrees to purchase the home in installment payments. Unlike other purchase methods, such as through mortgage financing, the deed to the land does not transfer to the buyer until the final installment has been paid. In other words, the title and ownership of the property does not change hands until the seller receives the entire purchase amount. As a result, there are a number of unique issues that can arise when buying a home via land contract, especially between the first and final payment. They include:
- Condemnation and foreclosure
- The duty to perform repairs and necessary maintenance
- Title issues
- Warranty deeds (in which the seller guarantees that he or she has clear title to the property) and other security measures
In order to prepare for and address these and other matters as they come up, it is important to seek the counsel of a real estate attorney with experience in land contract deals. The attorney should know how to draft the contract in order to give his or her client the utmost protection and ensure that it can be enforced when necessary.
In addition to our significant land contract experience, the lawyers at Attorney Spiros Stavros Nicolet are dedicated to helping clients who purchase their homes with a mortgage loan to fight and avoid foreclosure. As anyone who has faced foreclosure certainly knows, the threat of losing your home is a serious matter that must be addressed aggressively and proactively.
At Attorney Spiros Stavros Nicolet, we work with banks and courts to ensure that all alternatives to foreclosure are pursued and that all of our clients' rights are protected throughout the process. We have successfully helped clients avoid foreclosure through workouts and short sales, and we are dedicated to helping them stay in their homes whenever possible.
If you are facing foreclosure, considering buying or selling a home with a land contract, or looking for assistance in any other real estate matter, the real estate lawyers at Attorney Spiros Stavros Nicolet Immigration and Legal Services can help you. Please contact us online or call 773-562-6884 to schedule an appointment for a free consultation.