Every real estate transaction involves a significant number of legal issues. Every risk can be analyzed as either high or low probability and a high or low expected cost. For commercial transactions, nearly all legal decisions involve a high expected cost. For residential transactions, most decisions carry a relatively low penalty. The pivotal decision is knowing when to hire an attorney to protect your interests and when to rely on “your gut.”
In Dallas and cities all throughout Texas, real estate offers a great opportunities to grow wealth, provide cash flow and generate returns for investors, but those who fail to prepare accordingly may face legal issues down the road that could have been avoided altogether.
First of all, it is important to carefully evaluate the named parties (buyer or seller) before going forward with a deal. Contractual terms should be reviewed as the terms become more complicated since this can not only help prevent a dispute from arising but ensure that the transaction reflects your interests and your understanding of the deal. From titles and liens to closings and concessions, there are many other legal issues that may need to be reviewed before moving forward with a real estate transaction.
Both commercial and residential real estate transactions can be very lucrative, especially when they are handled correctly. Some people may lack familiarity with the process or relevant legal matters that warrant further review, in which case not knowing what you don’t know deserves legal counsel. We understand that real estate transactions can pose a number of challenges, but we also know how beneficial these transactions can be. To read more information related to residential and commercial real estate transactions, visit our page on this topic.