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Real Estate Lawyer Bozeman, MT

Real Estate Lawyer Bozeman, MT

People in Montana who are looking to purchase or sell real estate may meet with a real estate lawyer Bozeman, MT residents depend on at Silverman Law Office, PLLC for guidance. You may have heard from others that you should hire a reputable real estate lawyer to oversee the property transaction. There is truth to this statement because a lawyer is someone who can see to it your best interests are protected. Not every real estate deal is a complex transaction, however, the last thing you want is for something to go awry and then seek out legal help after an issue has already unfolded. Being proactive is ideal. 

At Silverman Law Office, PLLC, our clients matter most. We are always happy to answer questions and address concerns if you choose to recruit services from our practice. Here are a few questions that many prospective clients have for us, so we thought we would share this with you virtually: 

What does a real estate lawyer do? 

The role of a real estate lawyer is to help with tasks such as paperwork, negotiation, and the transaction itself. A real estate lawyer takes over once the selling price and contract terms have been created by the designated real estate agent(s). At this point, a lawyer would review the contract, have a home inspection performed, search the title, and then make suggestions for how the terms of the deal should be changed to ensure it is fair and reasonable. 

What are some of the benefits of having a lawyer help me through a real estate transaction?

In general, people may hire a lawyer whether their real estate deal is an easy or more complicated transaction. Those who do have a lawyer working with them tend to feel more at ease since they have someone who is only focused on their best interest from start to finish. Here are reasons why a buyer or seller may hire a Montana real estate lawyer in Bozeman from Silverman Law Office, PLLC: 

  • You are purchasing a property in an area that is problematic (such as toxicity levels, tornado or earth-quake prone, radon, etc.)
  • You are purchasing a property that may have structural issues
  • You are purchasing a property that is commercial
  • You are purchasing a property that is owned by the bank or a short sale
  • You are buying property and live out-of-town
  • You became the executor or heir of a property after the owner passed away and are looking to sell 
  • You are selling a property and your partner is being uncooperative

Speak With Our Real Estate Lawyer!

When you are buying or selling real estate, working with a real estate lawyer is in your best interest. Many people may think that since buying and selling real estate is so common that the process is fairly simple and they would not need the legal advice of an attorney. However, a real estate lawyer can look out for your legal needs even when you are not sure what those needs are. Because many people do not have a background in law or in real estate, they may not know what to look for to make sure they are getting a good or fair deal with real estate. This is how a Bozeman, Montana real estate lawyer can help you. Want to learn more? Contact our office now. 

I want to purchase a piece of property. What should happen before making a purchase? 

You may be surprised to learn that there could be liens or claims against the property you are interested in. You should speak with your attorney about any property you are interested in so that they can do this research for you. 

I’ve never sold a property before. What should I make sure I do before I sell it?

Congratulations on wanting to make your first sale! We understand that this can be very exciting for you and you want to make sure you do it right. Your attorney can help make sure that there or no liens or claims against your property and you should determine what the lowest price is that you are willing to accept. 

There are some problems with the property I am selling. Am I legally obligated to tell people who are interested in my property?

Yes. You have a legal obligation to disclose defects or problems with your property. If you sell a property without disclosing the defects and the person who purchased your property finds these defects, it is possible they could bring a lawsuit against you. Speak with your attorney about potential defects your property has. 

There are problems with my property but I’m selling it “as-is.” Am I still obligated to fix problems? 

It is still good to speak with an attorney when you are selling your home and when your property has defects. That said if you sell the property as-is, the person who purchases the property will be responsible for fixing defects and making repairs. 

Do any states require that I hire a real estate lawyer?

Yes, many states across the US have laws that require having a real estate lawyer involved in a real estate transaction, including West Virginia, Rhode Island, Pennsylvania, North Dakota, New York, New Hampshire, New Jersey, Massachusetts, Mississippi, Maine, Maryland, Kentucky, Georgia, Kansas, Florida, Delaware, District of Columbia, Connecticut, and Alabama. States that do not have these laws permit the buyer and seller to choose if they want legal representation.

Anyone who has purchased a new home can attest how exciting – and overwhelming – the whole process can be. Pouring through all the Montana real estate listings, researching the communities, thinking of all the different decorating ideas you want to incorporate in your new home is exciting, but dealing with all the financial and legal requirements can be overwhelming. This is why it is always recommended that anyone in the process of purchasing a home should consult with a real estate lawyer Bozeman, MT clients recommend.

Some of the more frequent mistakes that homebuyers make when “shopping” for their home include the following:

Searching for a new home before you are ready to purchase: Many potential home buyers, especially those who are paying rent and not building any of their own equity, are often anxious to move into their home. But there are a lot of factors involved when you decide to buy a home, especially if you are considering moving to a different area. It is important to know exactly the geo area you want to settle down in before expending the energy of looking. If you currently own your own home and are looking to purchase a new one, you need to be sure that you will be able to sell or rent your house before you move into your new residence.

Not sticking to your budget: Before you begin looking for your home, it is important to determine what your budget is. This includes how much you have to put down as a down payment, how much the overall price you can spend, and how much you can afford each month for your mortgage payment. Many people who are shopping for a home are often tempted to ignore that budget if they find a home that they fall in love with. While the extra thousands may not seem like it’s a lot, you have to consider what the long-term costs the extra price may actually be. Will your mortgage payment still be affordable, especially when you factor in the ever-increasing costs of property taxes, utility bills, and more? A Bozeman, MT real estate lawyer knows that ideally, a homebuyer should have a down payment of at least 20 percent of the final cost of the home. Failure to have at least that much will also likely mean the added expense of private mortgage insurance (PMI).

Trusting seller verbally without proper documentation: The best advice for any homebuyer is “Get it in writing.” Just because the seller tells you something does not mean they will actually follow through. This is why any agreements or disclosures should always have some documentation backing it up. It is not uncommon for conflicts or misunderstandings to arise about items that are currently in the home. Are they included in the purchase price or is the seller taking them with them? This often applies to appliances, light fixtures, window drapes, bathroom fixtures, and ceiling fans. A real estate lawyer in Bozeman, MT can make sure that any items that are supposed to be included in the purchase price are included in the contract between buyer and seller.

If you are in need of assistance when buying or selling a home, call Silverman Law Office, PLLC to schedule your free initial consultation with a real estate lawyer in Bozeman, MT.

Rental Properties

There are many benefits to owning and renting out commercial or residential real estate in Montana, but there is also the potential for having to death with a tenant to does not pay their rent on time. While the occasional event where a tenant has run into an issue and may be a couple of days later with their rent is usually easily handled, having a tenant who is chronically late or doesn’t pay can wreak havoc on your own finances and needs to be dealt with in the most stringent legal way as possible in order to protect your rights as the property owner. If you are considering eviction proceedings, contact a real estate lawyer Bozeman, MT clients recommend to find out what is required before you can take this action.

In Montana, a landlord is allowed to evict a tenant for failing to pay the rent on time. Under state law, rent is considered late even if only one day has gone past the due date. For example, if rent is due the first of the month, it is considered late on the second day if the tenant has not paid. It is up to the landlord whether or not there should be a grace period. That grace period needs to be stated in the lease.

If a tenant is late with their rent, then the landlord may want to communicate with the tenant before taking any action at all to see if there is an issue. For example, maybe the prior month was a short month, and they didn’t realize it was already the first of the month. Maybe they have been sick with the flu for a few days and didn’t realize the first of the month had arrived. If you have a good relationship with your tenant, then communication may be the only thing needed to resolve the issue.

If a tenant is consistently late with the rent or ignores your attempt at communicating, then it may be necessary to take other steps recommended by a Bozeman, MT real estate lawyer.

Once the rent is late, then the landlord must give the tenant a three-day notice to pay before any eviction action can be taken. This means the tenant has three days to pay the rent. If after three days the rent is still not paid, then the landlord can begin the eviction process. It is up to the landlord whether or not they want to accept partial payments or work something out with the tenant. Again, this usually depends on the relationship the landlord and tenant have, as well as the tenant’s rent history.

Contact Our Office

If you have decided you would like to begin the eviction process against a tenant, it is important to realize that many housing courts and housing laws favor tenants, and attempting to go through the eviction process without a Bozeman, MT real estate lawyer can be dragged out and frustrating. Contact the Silverman Law Office, PLLC to find out how we can help.

CONTACT US

Fill out the form below to get in touch with our legal team or call Bozeman office at (406) 582-8822 or our Helena office at (406) 449-4829 to talk to someone right away.