Many dream of buying new construction or developing your own land. In basic real estate transactions, it is well known that you should use a competent real estate lawyer to help conduct a title search and confirm that your property is clear of claims prior to purchase. When purchasing a new home, land or building in a subdivision there are additional reasons that you will want a competent attorney to handle the transaction for you.
When building a home it is important to have a competent attorney review the builders or sellers proposed purchase agreement prior to the purchase. Often such sellers will provide financial incentives to encourage a buyer to use their attorney and frequently those incentives are perceived as being greater than what they turn out to be in reality. Unlike typical re-sale transactions, new construction includes rights to the buyer after closing that need to be preserved. Also, since sub-contractors can create liens if theyve done work on an improvement for which they not been paid in full, a higher level of scrutiny needs to be used in reviewing the title work on new construction and affidavits should be sought to ensure title issues wont occur after closing. Now is not a time to be penny wise and pound-foolish. Having your own attorney will ensure the contract protects you and that all your rights are preserved after closing.
Working with Murray Law Offices will give you peace of mind when purchasing land, as well. When you purchase land, just like a new home, you will want to have the title searched and obtain title insurance. It is ironic how many folks think because its brand new land how could there be any title issues, when in reality its just the opposite, new land title searches are ever more important and usually far more difficult to do. Also, keep in mind to discuss with your attorney about insuring land and increasing the title insurance policy after you build it.
Subdividing property, depending upon the size of the tract, can be an extraordinarily complex process with a multitude of issues, which must be considered and dealt with effectively. Environmental issues, previous land use issues, tax issues, zoning, title concerns and other governmental regulations potentially on local, county and state levels can all play a role and can significantly impact on the final outcome of how many parcels the subdivision will yield which in turn determines the ultimate value of the project as completed. It's not an endeavor one should undertake without the skills as well as the experience that exist with the team at Murray Law Offices. So, Don't Worry, Call Murray!