It is commonly noted that buying real estate – whether a principal residence, rental housing or commercial property – is the largest single expense ever for most people.
That is hardly lost upon careful buyers, who take due precautions during the purchase process to get things right and minimize the potential for post-transaction snags.
To help with that objective, prospective purchasers often work closely with a seasoned real estate attorney well versed in all aspects of real estate selling and buying. Experienced legal counsel can offer valuable help with purchase/sale agreements (including negotiating, drafting, reviewing and enforcing them). Real estate lawyers routinely help clients with matters that warrant the closest scrutiny in preparation for closing a real estate transaction.
Readers in Colorado and elsewhere of our Denver real estate legal blog at O’Brien Legal Services can view a representative list of attorney input in property transactions on our website.
That page references “due diligence for buyers,” which encompasses several focus areas and concerns. In a nutshell, it pertains to attorney assistance geared toward fully promoting a client’s best interests and safeguarding against potential risks and other downsides.
Due-diligence activities range broadly from conducting title investigation of the seller’s good title and of liens, encumbrances or other claims of record, to identifying and mitigating risks concerning matters of property defects, hazards, zoning restrictions and other concerns. Crafting clearly written and protective contracts that address such matters is, of course, a key outcome of careful diligence.
An experienced Colorado real estate attorney can provide additional information.