After spending months looking for the ideal residential property, the buyer has found something that seems to have all the features desired and, while it is tempting to sign the papers immediately, it pays to step back and do a little investigating first. Before any type of deal is struck, talk with a real estate lawyer in Moline, IL to find out more about the history of the property. Here are some reasons why this action is important.
It pays to take a look at the documentation related to past sales of the property: the goal is to determine if any conflicts of information took place with any of those sales. For example, does the amount of acreage increase or decrease from one sale to the next? Maybe some of the information regarding the buyer or the seller seems incomplete. A real estate lawyer in Moline, IL can find out how these apparent discrepancies occurred and determined if they would create any problems for the present buyer.
Checking for Liens
A lawyer has the resources on hand to quickly find out if any type of lien or levy is attached to the property, which is important because the buyer could become responsible for part or even all of that obligation. If there is some sort of outstanding claim on the real estate, the lawyer can determine what can be done to ensure the seller assumes full responsibility for settling the claim. Doing so will guarantee that the property is free and clear and is not encumbered in any manner.
Protecting the Interests of the Client
The goal of the lawyer is to ensure that the real estate purchase is in the best financial interests of the client. By checking into the background and the present legal status of the property, it is possible to find out if there are any factors that could complicate matters. Once the research is done, and any issues are identified and resolved, it will be safe to move forward with the purchase.
For anyone who is thinking of buying land or a residential property, contact us today. It will not take long to look into the background of the property and determine if any type of irregularities exist.