Buying a house is a big decision and is likely the most expensive estate administration lawyers brisbane purchase most people will make in their lives. So, it makes sense to get some legal guidance from an expert in real estate law.
Even in more sophisticated commercial real estate transactions, a real estate lawyer with a strong practice is vital to the process and leaves you time to deal with other important things.Real estate lawyers typically review all the legal documents and issues related to a transaction. This includes looking at a legal review of the Agreement of Purchase or Agreement of Sale. They ensure property taxes are up-to-date, and that there are no claims or liens registered or on file against the property. They also confirm if there is a valid property title and calculate what land transfer tax is due upon closing, as well as any other tax implications. If there is any need to litigation involving the purchase or sale, a lawyer experienced in real estate law can also point you in the right direction.
In cases involving the purchase of a condo, review of the Status Certificate is key. It is an important document that discloses how much money is in the condo’s reserve fund and is it enough to do what the condo may need to do in terms of renovations and repairs going forward. This knowledge can help you decide if a big one-time fee special assessment to beef up the reserves may be coming down the line.