Buying An Investment Property? 3 Ways A Real Estate Attorney Can Help You

When you buy an investment property, your objective is to start making money on the property right away. That can only happen if you choose the right property. A real estate attorney is someone you should partner with if you want to purchase an investment property. A real estate attorney can help you make sure that you are making the right choice. 

#1 Extra Review of the Title

When you purchase a piece of property and finance that purchase, the bank will require you to have the title of the property reviewed by a title company. Title companies do good work and generally spot most issues with titles. However, when you have a real estate attorney you have an extra layer of protection place. A real estate attorney can review the deal as well to make sure that the title really is clear and to ensure that there is no encumbrances or defects on the title that will help you back from fully utilizing the property for investment purposes.

#2 Detailed Survey

When you purchase commercial property, you want to make sure that it is ready to go and that nothing is wrong with it. A survey is a great way to make sure that all the improvements that the property has undergone were all properly zoned and permitted. Zoning issues can damage your potential investment property.

A real estate attorney can oversee and review the survey, and make sure that there are not any issues with the property. Improper improvements could really damage your ability to make the investment that you want on your property. A real estate attorney will make sure that there is no zoning or permit issues with the property.

#3 Review Tennant Rights

When you purchase an investment property, be it a commercial piece of property or a residential rental piece of property, there are often tenants attached to the property. Oftentimes, tenants are presented as a selling point with an investment property, because your property comes with someone who is already paying rent. However, tenants can also make things more complicated as well.

A real estate attorney can review the tenant agreement and make sure that they work for your vision for the property. They can make sure that the tenants are properly informed of new ownership. An attorney can also help you determine if you can ask the tenants to leave as well.

Before you purchase an investment property, make sure to get a lawyer on your side. A lawyer will help review all the documents and information, and make sure you are really getting the investment property you think you are getting. For more information, reach out to law firms like the Blake Law Office.