Real estate issues can be stressful for everyone involved. If you attempt to handle any property dispute without professional help, for example, you may quickly become overwhelmed. That’s why it’s essential to contact a real estate law firm and work with professional lawyers throughout the entire duration of your property issue.

Knowing what to ask your lawyer is just as important as contacting one, because you don’t want to end up working with someone who isn’t qualified in a certain area that you might need assistance in.

Ask your prospective lawyer how long they have been practicing law

Each situation is different, but certainly you’ll want to work with an experienced lawyer and not someone who has just begun practicing. It’s important to distinguish between real estate and other forms of law, as well. You might be working with an experienced defense lawyer, but this is their first attempt at a real estate issue. Asking this question beforehand will give you a better feel for how your case will go.

Ask if they have worked a case exactly like yours before

Once you determine they are in fact experienced in real estate law, then it’s time to find out if they have dealt with anything like your particular situation before. The rate of foreclosures, for example, can fluctuate depending on the market, as one out of every 96 homes filed for foreclosure in 2013, which is a very high percentage. If they have never dealt with foreclosure before, even though they have been practicing law for a while, you might want to consider another lawyer.

Ask if they will be the only ones working on your case

Certain law firms often hand off specifics regarding a case to other members of the firm. This can cause complications if the other professionals are not as experienced. If the paralegals and junior lawyers are just as experienced, however, you should have nothing to worry about. Nevertheless, it’s still important to ask and find out exactly how your case is going to be handled.

If you are in need of an experienced California real estate lawyer, contact DiJulio Law Group today.

Real estate contracts can be complicated and even harmful to both buyer and seller if all parties involved are not careful. It’s best to work with a professional real estate law firm with experienced attorneys who can assist you throughout any property-related issue.

Here are a few must-have conditions for real estate contracts to be successful.

Must Disclose Defects
Failure to disclose defects on a real estate contract is a serious offense and can result in even more lawsuits down the line. Hopefully, no one involved with the property sale is trying to take advantage of other parties, but it happens far too often in real estate deals; someone intentionally hides a problem to either make more money or spend less. Additionally, in California, real estate agents are required by law to disclose any information about a death that occurred on the property within three years before the original sale.

Financials
Probably the most important aspect of any real estate contract is the financial information. All real estate contracts should state whether or not an offer is contingent upon obtaining financing at specified interest rates. And all the details of the obtained mortgage must be laid out to avoid any confusion. One caveat regarding financial terms is that they have to be accurate representations of the buyer’s actual financial situation. For example, if the buyer can’t afford the monthly interest rate on the house if the rate is higher than 7%, they shouldn’t put 7.5% in their offer. Such a mistake means that the seller will keep an earnest money deposit if the buyer backs out.

Closing Date
Another real estate contract essential is the expected closing time. This will state exactly how much time both the buyer and seller have to prepare before the actual finalization of the sale. Typically, the most common time frames are between 30 and 60 days to close. Deepening on whether or not the seller needs to find a new place to live, any remaining lease contracts, or job relocation issues can all affect the closing date as well. Some buyers want to finish everything within two weeks, but that can be difficult, so it’s best to work alongside real estate attorneys to find a more realistic closing date and include it on the contract.

In California, home sales have been steadily dropping.

The California home market entered a strange phase at the end of the 2016 summer. The market was moving much slower than normal and some higher prices led to less affordable homes, causing people to hesitate from buying.

“Demand begins to soften heading into the fall since many buyers with families buy before school starts,” said Andrew LePage, a real estate analyst.

According to the Los Angeles Times, Southern California’s median home price fell to $460,000 in August, although the median price is still about 5.7% higher than last year at this time.

“It’s not unusual for the median to decline modestly between August and September, LePage added. “In part because demand begins to soften heading into the fall, since many buyers with families buy before school starts.”

Los Angeles Daily News reports that the market did have a slow summer despite job growth and a decrease in lower mortgage rates.

On a national scale, however, the U.S. Commerce Department stated that new home sales actually rose 3.1% across the country during the summer.

Although California saw a slower summer, for now that can just be chalked up as an outlier. On average it still takes about 40 days to close on a home in California and people will surely continue to sell through the fall and into the winter.

It’s important that anyone dealing with any type of real estate law contract in California should with a qualified real estate lawyer.

These lawyers are fully experienced in property law and can assist you throughout the entire home buying (or selling) process including filling out all real estate contracts.

According to the National Association of Realtors, wholly 77% of homebuyers get inspections done before finishing a real estate deal. It’s recommended to have the home inspected beforehand to avoid any unwanted surprises once you move in or even little later down the line. Experienced real estate lawyers on behalf of the seller will encourage them to have any and all repairs done well before the house is listed.

Dealing with real estate can be extremely stressful for both the property owner and the prospective buyer/renter. Real estate contracts should be thoroughly filled out, but if both parties are unsure about any aspects of real estate law, some serious problems could occur.

That’s why working with an experienced real estate attorney is essential when handling property deals. These attorneys are familiar with real estate law and can assist throughout the entire buying or selling process. It’s up to you to get in touch with an experienced attorney. If you wish to speak to a professional real estate law firm, contact the DiJulio Law Group today.

In California, the State of Frauds requires at least three types of real estate contracts to be in writing: any lease that’s over one year, any commission agreement between licensees and principals, and any documents of sale for the property.

Along with having proper documentation, there are a few other important aspects of real estate contracts that are necessary for all parties.

The Closing Date

The closing date must be present on the contract. Usually, it takes between 30 to 60 days to close. This information is essential for the deal because both parties could have other properties they plan on living in for a few months until the deal goes through. You might also have to get settled in at a new job if you’re moving to a new area, so it’s important to know exactly when you can move in and start getting things in order.

Inspection Clause

A home inspection clause allows the buyer to completely walk away from a deal if significant damage is evident. Unfortunately, there are real estate sellers who try and take advantage of buyers, so make sure you and your attorney schedule thorough inspections before, during, and after the buying process.

Financing

One of the most important aspects of any contract is simply the finance terms involved. All mortgage information should be outlined in the contract and it should state that the offer is contingent upon financial backing at a specified interest rate.

Real estate deals and contracts should be taken seriously because these are important documents that have a direct effect on your future. Call the DiJulio Law Group today if you want to learn more or speak with an experienced attorney.