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Real Estate Lawyer Montana

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Real Estate Lawyer in Montana

Commercial property requires intensive management, and it’s never easy to deal with if there are any unforeseen issues with your property – unless you have a qualified Montana real estate lawyer on your side.

Owning commercial or residential property can take a lot of work, and unfortunately it’s never quite as easy to profit off of property as many people would expect. While ownership takes vigilance and knowledge of real estate law, when you’re buying property, you have to be extra careful. When you’re investing in real estate, you need to make sure you’re protecting your interests as best as possible.

Can a real estate lawyer help when I’m buying property?

Short answer: Yes. In fact, it’s reckless to not have a lawyer in your corner when you’re looking at buying property – commercial or otherwise. You need to make sure you’re getting a good deal, and you also need to make sure the property you’re interested in purchasing won’t turn into a massive financial burden. Fortunately, real estate lawyers are experienced with purchasing properties, and they’ll be able to help you keep an eye open for any potential liabilities.

Additionally, a real estate lawyer can help you ensure your assets are protected once you decide to take the plunge and invest in real estate. When you purchase property, a real estate lawyer in Montana can help you make sure you have all the necessary paperwork squared away, and they can also make sure you aren’t committing to any costly investments. They’ve been around the block enough to know what a scam looks like, and they’ll keep you out of trouble.

What if I already own property?

If you already own property, a lawyer can still help. They can keep you informed about any developments that happen on the real estate you own, and they can also provide valuable legal assistance in case of emergency. If your property is suddenly damaged or if you need to get problematic tenants out of your building, a real estate lawyer is there to help you make sure you do everything above the level.

Reach out to Silverman Law Office, PLLC today

Purchasing property is a difficult task to organize by yourself, especially if you want to make sure you aren’t committing to anything that might end up proving problematic later. And of course, after you purchase your property, the hard work and red tape doesn’t suddenly just stop. You’ll have to come up with favorable contracts for any tenants or businesses that would like to operate on your property, and you need to have an exit strategy in case things go south with anyone using your property for their residence or business.

At Silverman Law Office, PLLC, we understand how challenging real estate can be. It’s never quite as easy as people think, and it definitely requires more legal advice than people expect as well. If you want to avoid getting sucked into a costly real estate trap, get in touch with us today and see how a real estate lawyer in Montana can help your investments and your properties.

Real Estate Lawyer Montana

When you are buying a new home or commercial property in Montana, there are many factors that need to be addressed. The financial and legal issues all need to be carefully considered and addressed in order to ensure no future problems. In order to make sure that you are fully protected, it is always a good idea to consult with a real estate lawyer Montana clients highly recommend.

Can’t I Just Work with a Real Estate Agent?

If you’re thinking about purchasing or buying either commercial or residential real estate, it is important to understand that you need a “team” of professionals to assist you with accomplishing your goals. Working with a real estate agent can be very helpful, especially if you’re unsure of which property you’d like to buy. An agent can help you to navigate the market and to identify which properties are worth investing in. However, working with a real estate agent – and ONLY a real estate agent – is not advisable. Real estate agents and the Montana real estate lawyer team at Silverman Law Office, PLLC serve different professional purposes.

While a real estate agent will help you to navigate listings and the marketplace generally, managing the legal act of purchasing a property is best left to real estate attorneys. Experienced real estate agents can help you to understand basic paperwork and can help to schedule tours, hire inspectors, and negotiate the broader terms of your deal. They can even assist you with financing your purchase. However, real estate agents are not attorneys and do not have the legal education that allows them to navigate the often highly-nuanced world of real estate law. Especially if you are purchasing significant property and/or you’re dealing with zoning challenges, environmental regulations, and/or you’re running into regulatory issues, engaging the services of an experienced Montana real estate lawyer with Silverman Law Office, PLLC will help to ensure that your purchase is successful and that you minimize legal risk throughout the purchasing process.

Is Leasing a Better Option?

The choice between purchasing and leasing either residential or commercial real estate is a personal one. Obviously, the benefit of purchasing real estate is the goal of building equity in that property. Buying a property also allows you to improve it in ways that aren’t restricted by the wishes of the owner. However, there are significant risks associated with purchasing real estate that must be carefully examined before you commit to a plan of action.

If you are unsure of whether purchasing a property or leasing one would serve your interests best, connect with the Montana real estate lawyer at Silverman Law Office, PLLC. We’ll listen to your goals, needs, and circumstances before providing you with an objective evaluation concerning your purchasing vs. leasing options.

Do I Need to Understand Every Word in My Real Estate Contract?

Real estate contracts are among the densest legal documents that most individuals will ever encounter. You can breathe more easily knowing that you do not have to understand every word of your real estate contract. That’s our job! It is critically important that you understand the details and terms of your contract, but that doesn’t mean that you have to understand every word. We will make sure to explain all you need to know in terms that don’t require you to have a law degree. Additionally, we are always happy to answer questions and address concerns whenever they arise.

Buying a Home or Commercial Property – Second Looks

There are certain issues that can come up that are definite red flags that you may want to reconsider the property you are looking at. Some of the most common include the following:

Odd Odors and Sounds

When you enter a property for the first time, make sure to take notice of how it smells. Does it smell fresh and clean or did have a heavy scent of candles, air freshener, or potpourri in the air? Any kind of heavy scents could be an indication that the owner – or the listing real estate agent – is trying to hide or cover up some kind of permanent odors that signal a problem. Some of the most frequent of these problems include pet damage (i.e. a cat or dog using the floors as a bathroom) or mold.

Another red flag a Montana real estate lawyer suggests is to look for is whether the owner had some kind of white noise machine or music that seemed a little too loud. This can be an indicator that they are trying to drown out some kind of sound that could be a deterrent to someone purchasing the home, either something in the home itself or something going on in the neighborhood.

Home Inspection Issues

A home inspection is usually a requirement of the financial institution that is granting the mortgage to the buyer. If for some reason there is no requirement for a home inspection, the buyer should have one done anyway. A home inspection can ensure that the buyer is fully aware of any issues that the home has, such as plumbing problems, electrical issues, water damage, roof problems, and more. If a homeowner tries to dissuade a buyer from having a home inspection done, that should be another red flag that there is something wrong. A real estate lawyer in Montana recommends no matter what the circumstances, always get a home inspection done by a professional inspection who will prepare a report of the full condition of the home.

Copy of Work Permits

If the home you want to buy has had major renovations done to it, request copies of all the work permits applied and issued for the construction. This is usually referred to as a Report of Residential Building Record. These reports contain all permits issued by the municipality the house is located in. Permits indicate that any work done was performed by licensed professionals and inspected by the town or city. If there are no permits, that could mean the renovations were not done to code and/or a professional and there could be safety concerns.

When you are considering buying or selling real estate, you may want the help of a real estate lawyer Montana residents trust from Silverman Law Office, PLLC. Real estate is not as simple as many people hope, and you may quickly realize as you are looking at properties to purchase or sell that there were problems with them that were not originally apparent. Many people do not realize how helpful a real estate lawyer can be when it comes to something as seemingly simple as buying a house. However, we believe that you should protect your interests as much as possible when so much money is on the table. Call our office to set up a consultation with our team now.

  1. I recently purchased a home but found problems that were not listed when I was buying it. What can I do? It is not uncommon for a buyer to be given a warranty policy when they purchase a property. This usually means that certain losses that were not found during the inspection could be covered under the warranty. If you were not given such a policy and run into problems, you should certainly speak with your attorney.
  2. Do I need an attorney for buying or selling a house? Many people do not realize how helpful it can be to have a real estate lawyer in Montana on your side when you are buying or selling a house. However, when you consider how much money will be on the table and that you will be spending a great deal of time signing contracts, it makes sense to think that you would have an attorney there to make sure everything is legal and that you are not getting the short end of the stick when it comes to cash on the table or problems with a property.
  3. The seller of a home I am buying signed a contract stating they would make repairs to the property and they never made them. What can I do? If you have already talked with your real estate agent and they know that no arrangements have been made for the repairs, it is best for you to get in contact with your real estate attorney. You may have a real estate suit you need to file if the sellers will not make the repairs they are legally obligated to make.

If you would like to speak with a trusted real estate lawyer in Montana, contact Silverman Law Office, PLLC today.

Foreclosure

While purchasing a new home is always exciting, the reality of owning one can be someone different. Events in life occur that can put a financial strain on families, resulting in homeowners defaulting on their mortgage payments. When this happens, lenders will often initiate foreclosure proceedings. If this happens, homeowners should keep in mind that the last thing the lender wants to do is foreclose on the home and is often open to working out other options. If you are being threatened with foreclosure, contact a real estate lawyer Montana families trust to find out what legal options you may have.

What Are the Alternatives to Foreclosure?

Foreclosures can be costly for lenders. This is why many lenders are willing to work out some type of option that will make foreclosing on the home unnecessary. Some of the more common options include:

  • Forbearance: This is when the lender allows the borrower to make smaller monthly payments for a limited period of time and then make up the difference in future monthly payments.
  • Modifying the loan: It may be possible to make modifications to the terms of the loan, including lowering the interest rate, lowering the payback period, and lowering the monthly payment. This is dependent on the type of loan you have. A Montana real estate lawyer can determine if you may be eligible for this option.
  • Refinancing: This is similar to modifying the loan since it allows the borrower to lower their monthly payments and/or interest rates, but it usually requires the borrower to have a certain amount of equity ownership in the home, as well as a qualifying credit score.
  • Short sale: A short sale allows the homeowner to sell the home and then walk away from any remaining mortgage-free and clear. The homeowner sells the property for less than the amount they owe on the mortgage, with all proceeds of the sale going to the lender. In exchange, the lender forgives any remaining balance left on the mortgage.
  • Deed in lieu of foreclosure: In some cases, the lender will accept the borrower signing the deed over to them and any remaining mortgage balance is forgiven. A lender will consider this option in order to avoid the costs of a foreclosure proceeding.

No matter what your circumstances are as to why your lender is threatening you with foreclosure, an experienced real estate lawyer can offer advice as to the benefits and viability of each of the above options and how they would apply to your situation.

Benefits of Hiring a Real Estate Lawyer

If you are planning on buying a home soon, you may be wondering if you should hire a real estate lawyer in Montana or not. Although it is not required, it is in your best interest to do so. Here are some benefits of hiring a real estate lawyer.

  • Look Over Contract: Before you can buy a home, you will have to sign a real estate contract. However, this contract may include legal terminology that you might not understand. That is why it is beneficial to have an experienced real estate lawyer on your side. He or she will thoroughly look over the contract to ensure it reflects your bests interests. Your lawyer will make sure you fully understand the terms of that contract before you sign it.
  • Conduct a Title Search: Before you purchase a house, you must make sure that the owner has the legal right to sell it. The last thing you want to do is put time and money into something you can’t legally buy. For example, the owner may have a lien against the title. A real estate lawyer will take the time to search for the title and ensure it’s legitimate.
  • Save Time and Stress: A real estate lawyer in Montana will also deal with the paperwork involved in purchasing a home. This can help you save both time and stress. If your lawyer takes care of all the paperwork, you will have more time for other moving tasks, like packing boxes calling moving companies.
  • Negotiate Effectively: In order to get a fair price for a house, you may need to do some negotiating. However, if you’re like many people, you might not possess the proper negotiating skills. A real estate lawyer, on the other hand, does. He or she may be able to negotiate a better price for the home you want.
  • Assist with the Closing Process: The closing process can be quite complex and involves several steps. It is not something you want to do alone, especially if this is your first time purchasing real estate. A real estate lawyer in Montana can assist with every step of the closing process, from getting a lender appraisal to doing a final walkthrough of the home. You will have peace of mind knowing that you have someone knowledgeable and experienced on your side.

If you are facing foreclosure, you do not have to deal with this stressful process on your own. Contact Silverman Law Office, PLLC today to meet with a dedicated Montana real estate lawyer and let us evaluate your situation and help determine what your best options are. Call our office today.

What You Should Know as a Commercial Landlord in Montana

If you deal in commercial real estate transactions, you likely already understand that this is a complex area of law. There are a lot of aspects that need careful attention to detail, including the purchase, sale, lease, zoning, financing, transfer, and/or development of your property. In the event you choose to rent out one or more of your commercial properties, you need to be completely up to date on what rights your tenants have. This is why it is important to have a knowledgeable and skilled commercial real estate lawyer in Montana on your side.

All Commercial Leases Are Unique

Commercial leases should not be drafted using a boilerplate document. Every business has different needs and requirements, and commercial leases should be crafted to address these needs. The most basic rights of commercial tenants can differ from those found in a residential lease. If your tenant is presenting you with changes they want added or specific terms, it is even more important that you speak with an attorney.

Tenants May Claim Constructive Eviction

In situations where your tenant accuses you of breaching the lease, they may claim constructive eviction. This is most commonly done in situations where a landlord does not make necessary repairs, and the property becomes unfit for the original purpose that the tenant leased it for.

If the tenant’s constructive eviction is successful, it will discharge their obligation to pay rent as well as comply with other lease terms. The tenant can abandon the premises upon being constructively evicted. The tenant leaving the premises is key because without leaving, there is no constructive eviction. Before the tenant vacates, they must provide you with notice and allow you a reasonable amount of time to correct the defect.

Make Sure Property Damage Is Addressed in the Lease

Commercial leases spell out the responsibilities and duties of a tenant, but a good lease should also include information on what happens in the event the property is damaged. You need to protect your rights and address what will be done if there is temporary or permanent damage that renders the property uninhabitable. Working with a Montana real estate lawyer can ensure that your interests will be protected in any commercial lease you enter into.

What Happens When You Need to Evict a Tenant?

Commercial evictions are usually the last resort when the landlord-tenant relationship breaks down. Reasons for eviction can include failure to pay rent, illegal activity, or failure to comply with the terms of the lease. Be advised that the commercial eviction process can be quite complex. This is not something you should attempt on your own. If you do not follow the process exactly, then you could be facing legal issues and additional expenses. Also, you have to be careful if your tenant wants to negotiate, as this could result in you losing the ability to collect unpaid rent or proceed with the eviction.

Contact Our Office Today

If you need assistance with a lease or any other legal issues involving commercial real estate, contact a skilled Montana real estate lawyer from Silverman Law Office, PLLC.

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.