Residential Real Estate
Purchasing or selling residential real estate in Alabama can be an exciting process. Whether you are getting ready to move into a new home or are saying goodbye to your current abode, entering a real estate transaction means a fresh start – whatever that may be. For most people, buying or selling a residential property is one of the largest and most complicated transactions you will ever make. With this type of transaction, it is important to have skilled legal counsel in your corner advocating for your rights and interests.
At the law offices of Davis, Bingham, Hudson & Buckner, P.C., we know that as energizing as buying or selling a home may be, it can also be confusing and stressful at times. A successful real estate transaction has numerous elements, each of which must be approached with knowledge and care. Our Alabama residential real estate lawyers are well-versed in real estate law, and we have more than four decades of experience guiding our clients through the process of buying and selling residential real estate.
Our Residential Real Estate Services
Our firm is licensed to offer legal services for clients with questions about residential real estate matters in both Alabama and Georgia. Our services are comprehensive and designed to provide you with confidence and peace of mind as you navigate the complexities of buying or selling a home. Our services include:
- Contract negotiation and preparation. A real estate purchase agreement, also called a residential purchase agreement, is the foundation of any real estate transaction. These agreements are used to outline the terms of a sale of residential property, and the terms that each party must fulfill in order for the sale to proceed. Typically, these agreements will include the names of both parties (any sellers and any buyers); all relevant dates, including the date the offer is being made and the closing date; a description of the property; the price of the property; and title requirements, inspection requirements, and more. This is also the part of the process where a homebuyer can name any contingencies. For example, if an inspection reveals a defect, the homeowner can state that their purchase of the property is contingent on the defect being remedied.
- Examination of title. Before a home can be sold, its title must be examined. This is the process of reviewing the title record to ensure that there are no title defects. Our lawyers are skilled in this practice, and are able to correctly determine who owns the land that is available for purchase, whether there are any defects of claims against the title, and whether any actions must be taken by the seller in order to ensure that the title is clear and that the buyer obtains a sound title record upon closing.
- Obtaining title insurance. Title insurance can protect you in the event that a bad title search is conducted and you purchase a property with a defective title. For example, the title to your new home could be associated with unpaid liens, disputes over property boundaries, subdivision disputes, and more – if you have title insurance, you will not be held personally liable for these issues.
- Home inspections. Before you head to the closing table, it is critical that a home inspection is conducted. The home inspection is used to identify any hazards, such as mold, asbestos, or lead. It can also be used to identify any defects in the home, ranging from a faulty starter on a gas stove to a caving roof and more. Keep in mind that even new homes can have problems, so conducting a home inspection is always recommended.
- Services for sellers. We represent both buyers and sellers. If you are a seller of a residential property, we can help you to ensure that your best interests are protected. This includes helping you understand your rights and obligations regarding disclosure, essential elements of a real estate purchase agreement you should be aware of, and what steps to take in the event of a breach of contract. We also provide 1031 exchange services. In a 1031 exchange, a seller is allowed to sell a property, invest the proceeds in a new property, and defer capital gains taxes.
- Securing lending. Securing lending for purchase of your new home is critical. What’s more, in your real estate purchase agreement, you will likely be required to make a good faith effort to secure lending by a certain date. Your failure to do so can result in a breach of contract. Our goal is to help you understand your new home financing options and ensure that you understand your obligations regarding lending once a mortgage has been issued. We explain to you all of your financial options and duties. We can also represent you during the refinancing process.
- Closing. An attorney from our law office can act as a closing agent during the home closing process, which involves preparing all closing documents, representing you at the closing table, and guiding you through all documents. We can also accompany you on a final walk-through of the property, and assist you in the transfer of funds.
- Dispute resolution. Finally, if there are any disputes during the real estate transaction process, such as a title dispute, an issue that arises during the inspection, a non-disclosure issue, or another breach of contract dispute, we provide qualified and aggressive legal representation. We represent you during dispute resolution, including mediation. As skilled litigators, we are also able to represent you in a courtroom if necessary.
Call our Alabama Residential Real Estate Attorneys Today
Working with a lawyer throughout the residential real estate process is strongly encouraged. Real estate transactions involve hundreds of thousands of dollars, and a small error or misstep along the way can be costly. When you contact the law offices of Davis, Bingham, Hudson & Buckner, P.C., you can be confident that you will be protected during the process of buying or selling a home.
For a consultation with our experienced real estate lawyer, call our law firm at 334-821-1908, or contact us by filling out the contact form on our website, or emailing our law office at firstname.lastname@example.org. You may also stop into our Auburn office for assistance.