The residential real estate market in California is quite complicated. Taking into account real estate law, both buyers and sellers must exercise caution and diligence to make sure things will go as intended.
Many real estate attorneys get a range of different questions from home buyers. It is not unusual for an aspiring real estate property owner to ask about the differences between a home purchase and the sale of a vacant lot. The thing is, it all depends on where the seller is selling real estate and the makeup of such property. There is no categorical answer.
If the real property is flat, is on a sewer, and does not need major grading, opting for a vacant lot to build your home on could indeed be a good option. However, real estate buyers looking for a lot in Topanga or Malibu might have certain difficulties. Several local challenges may arise when proceeding with such a real estate transaction.
Brokers play a crucial role in the purchase of the real estate, including negotiating and buying or selling property. Both buying and selling a home or a vacant lot would involve real estate brokerage.
A real estate broker will have access to homes that are in the local multiple listing service and can help locate places suitable for you. He or she can also help you get the services of a real estate professional that you will need. Coordination is key, regardless if your real estate purchase involves a lot or a house and lot.
A home inspector, for instance, is necessary for the inspection contingency in the real estate sales contract, while a home buyer would need a qualified appraiser for the required appraisal. A lender may even have in-house appraisers for a mortgage loan since lenders look into your would-be new home as a real estate investment.
Experienced Calabasas real estate attorneys, meanwhile, can help with paperwork involving real estate contract provisions. Aside from giving legal advice, they can help ensure that the one selling real estate complies with statutes necessary for real estate transactions. A competent real estate lawyer can answer your questions on escrow, transfer tax, closings, or real estate title insurance. He or she can help you avoid real estate disputes and possibly real estate litigation.
The above is a long list that can get even longer. If you are buying a vacant lot, keep in mind that you will need help from several other professionals to ensure that such property can indeed transform into your dream home.
Often added to the list first are architects who can design a home that will follow the specifications you will lay out. Even if some may have high professional fees, getting a good architect is necessary. He or she will also be the one to coordinate with the engineer, who shall be taking care of your grading plan. A septic system is needed for a lot that is not on a sewer, and only certified professionals can take care of this job.
On top of these, you would need someone to help you with land use and zoning and the process of getting permits and approvals from the county, city, Coastal Commission, and fire department, among others. Without a real property lawyer helping you, they can be quite confusing. No one wants to buy a property in California for a dream home that cannot be built because of all these legal issues.
Note that provisions of real property law are in place for the best interests of both parties: buyers and sellers. When faced with legal questions concerning real estate, reach out to reliable law offices covering these areas of law. A reliable real property lawyer will provide the legal services that you require.
For inquiries related to real estate information or for other real estate needs, contact our law firm. Call us at Moschetti Law Group and consult with a trusted Calabasas estate planning attorney for legal representation and advice.