Common Real Estate Issues
If you are buying or selling a home, you may be experiencing these common real estate issues. With the help of an experienced real estate attorney, you can navigate these issues with ease.
Common Real Estate Issues | Turning Off Utilities
The seller of a home should never turn off their utilities until such time that the closing has taken place. The reason for that being is because the purchaser of the property has the right to do an inspection called a walk through, 2 or 3 days, maybe even the day of closing, there are going to walk through the property to make sure that the room’s swept, make sure that the basic condition of the property is substantially as it was when the contract was entered into, the utilities have to be in place. It is very important to remember, don’t turn off the utilities until closing has consummated, you’ll contact your utility companies, the purchaser will do the same thing, and then you have a transition from the seller to the purchaser and there’s no lapse of time.
Common Real Estate Issues | Looking at All Offers
In Erie and in Niagara County properties are selling very rapidly. People are getting multiple bids for properties. You have a situation where once the bids are put in there actually doing a bit of an auction with one another.
Buffalo Real Estate Attorney believes that from a seller’s perspective it’s important to make sure that your realtor is entertaining all the different offers and negotiating the best price for you. Conversely, if you’re representing the buyer, you don’t want to be negotiating once you’ve agreed upon or submitted a purchase price with a third party. You want that property taken off the market as quickly as possible. Putting terms into the agreement, which say, “On that night, when you sign that agreement, the property is off the market,” would be very helpful moving forward to make sure that you’re not reaching a point to where you’re going to have competitive offers from other parties.
Common Real Estate Issues | Transactions
One of the main issues with regard to a real estate transaction in buying, and then selling a house is to make sure that you are going to be able to coordinate and communicate those transactions. It may sound easy, but there are so many circumstances that can come up.
Buffalo Real Estate Attorney Randy Gugino says people have to accommodate one another, and everybody’s got to get their work done. Title searches, surveys, grid requirements all have to be complied with, and everybody has to be on the same page from a timing perspective. It’s important that we communicate, and now-a-days it so easy to do so with emails. You communicate where you are in the process of your transaction to the other parties so that everybody coordinates at the same time.
If you have any other worried about your real estate journey, please call our experienced Buffalo real estate attorney Randy Gugino today for a free consultation.