All About Real Estate Transactions In Ohio

This article will help you understand:

• What issues cause real estate transaction delays, and how to avoid them.
• A few reasons you shouldn’t rely on a standard listing agreement provided by a realtor when buying or selling a property.
• Why hiring a real estate attorney could be the smartest real estate decision you make.

Does Your Firm Handle Both Commercial And Residential Real Estate Matters In Ohio?

At the Law Offices of Amy R. Turos, we handle both commercial and residential real estate transactions in Ohio. Some examples of these real estate transactions include:

• Business to business
• Commercial lease agreements
• Commercial hold harmless agreements
• Escrow agreements
• Purchase agreements

We also review contracts for our clients and negotiate the best deals to help protect their rights, assets, and interests, and to assist them in avoiding common pitfalls.

What Matters Should Someone Discuss With An Experienced Ohio Real Estate Attorney Before Taking Steps To Buy Or Sell Property?

You should discuss any and all items associated with the sale or purchase of property with your real estate attorney before the transaction.

At our offices, we gather as much information as possible about our clients. We like to know details about their lives, as well as particulars about the real estate that they are interested in purchasing, selling, or leasing.

Getting to know our clients allows us to understand their interests, what they are trying to protect, and what is important to them, so we can better assist them through the process of buying or selling a property.

How Does A Real Estate Attorney Assist With The Purchase Or Sale Of Property In Ohio? Do I Need Both An Attorney And A Real Estate Agent?

Our firm works on transactions between the buyer and the seller. We handle any title issues, review transaction contracts, and handle probate matters if someone were to pass away during the real estate transaction process. We also draft deeds for our clients and make sure that their interests are protected.

Whether you need both a real estate agent and a real estate attorney depends upon the complexity of the situation, but sometimes you do need both. We are often contacted to settle title issues, deed issues, as well as other contract issues. We can help ensure that your sale or purchase is completed more easily, and assist in solving some of the problems that often hinder and delay real estate transactions.

What Are Some Common Issues That Can Hold Up A Residential Real Estate Transaction In Ohio?

Some common setbacks that could hold up a real estate transaction in Ohio include:

• Breach of Contract
• Deed issues
• Title issues
• Easement issues
• And more…

Another common setback we encounter is when someone passes away during the process, in which case, we determine and guide our clients through the next steps, such as whether or not probate is needed.

Real estate documents can be confusing, but the Law Firm of Amy R. Turos is here to help you understand all aspects of your real estate transaction and to assist you throughout the process.

How Should I Prepare Beforehand When Selling Or Purchasing A Residential Property?

When working with us, one way you can prepare beforehand is by bringing with you any documents and information relating to the property sale or purchase. You can also assist us by being ready to answer questions about yourself and the property.

At the Law Firm of Amy R. Turos, we prepare by getting to know our clients. We want to understand what is important to them, as well as their family situation and their financial situation.

For real estate purchases, we also complete a comprehensive search on the real estate property they are interested in. We check court dockets, look into tax liens, and make sure that real estate taxes are being paid. With these steps, we are able to gather an overall idea of what legal documents are necessary to purchase the property.

When our clients come prepared, this ensures that the process runs more smoothly and quickly for everyone.

What Are The Common Causes Of Delay That Can Derail The Process Of A Sale Or Purchase In Ohio?

There are many potential situations that can hinder real estate purchases or sales. A real estate attorney has the ability to help you avoid unnecessary delays during your transaction, and guide you through any delays that do occur.

One common cause of delay is when someone passes away during the process of a real estate sale or purchase, and there is no proper estate plan put into place. When probate is needed to determine how to handle someone’s estate, it can slow down the real estate transaction process significantly.

A breach of contract, or a party not upholding their end of the bargain, could also detain a real estate sale or purchase. Additional delays could occur on account of title or financing issues, such as a party not having financing documents in place when they are needed.

Timing is critical during some transactions, and a lack of preparation may cause setbacks during the sale or purchase. For example, the property could have to be resurveyed because the previous survey is too old.

Encountering delays is a frustrating experience for everyone involved in the transaction process, especially when they could have been prevented. At the Law Offices of Amy R. Turos, our goal is to minimize delays for you – and to get the transaction back on track as quickly as possible when delays are unavoidable.

Should I Use A Standard Listing Agreement Contract Provided By My Realtor Or A Custom Agreement Created By My Attorney? What Are The Pros And Cons Of Each?

The standard listing agreement is a basic standardized form that is used by real estate agents for residential purchases.

One problem with the standard listing agreement is that it cannot be used for commercial real estate transactions. Commercial transactions are more complex than residential transactions, and banks require significantly more documents for commercial transactions.

There are many pitfalls with the standard listing agreement because it is a basic document that provides no customization for the client. If more information or contingencies are necessary in the paperwork, such as seller financing or a land contract, a custom agreement may be a better option.

Fortunately, The Law Firm of Amy R. Turos is able to draft agreements at our offices that are better suited for your situation and customized to fit your specific real estate needs.

With the guidance of a skilled attorney for Real Estate Law Cases, you can have the peace of mind that comes with knowing that we’ll make it look easy.

For more information on Real Estate Law in Ohio, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (330) 222-3898 today.