Buying a House? Hire A Real Estate Attorney in Sullivan, Indiana
Buying and selling real estate usually involves a great deal of money and is governed by many local and federal laws. When people are buying a home, it is usually an emotional experience. They are very concerned about what the house looks like, how many bedrooms it has and whether their family will be happy there. They may not be focused on the legal issues that control that property. A Real Estate Attorney in Sullivan, Indiana will review the legal documents and protect their financial investment.
It is necessary for the owner to have a clear title to the land to sell it. A Real Estate Attorney in Sullivan, Indiana will go back through deeds and other paperwork associated to the property to ensure that there are no problems with it. Many people have been using their house as financial collateral for a series home equity loans. If any of these haven’t been signed-off on properly, a bank may still hold the title. A real estate attorney will also scour deeds looking for a limitation on the use of a property. Former owners may have granted easements to utility companies to run lines underground. This would preclude the homeowners from installing a swimming pool or having a garden in that area. It could also limit the future resale value of the property.
Local governments have strict zoning requirements that must be met. These include minimum lot sizes and setbacks from the property lines. These provide minimum separation distances between buildings on different lots and ensure that firetrucks can get to all areas of the property. In the front of the house they may create an attractive green space corridor along the street. If the lot is not constructed to meet the local zoning code, then it becomes a nonconforming lot. While the local government may allow the structures on it to continue standing, they may prohibit and future development on that lot. This may prevent a homeowner from enlarging their garage, adding a deck or additional living space. It is very hard to bring nonconforming lots into compliance. A real estate attorney can explain the pros and cons of buying a lot in this situation.