Regardless of whether you are the one buying or selling it, a transaction that involves real estate will likely involve a significant investment, and will drastically impact your financial position for years to come. To protect your investment, make a real estate transaction go smoothly and avoid the countless issues and pitfalls that can arise when you buy or sell real estate, it is important to have legal representation throughout the process. Whether it involves residential or commercial property, the real estate attorneys at Rosebrough & Fowles can give you the legal advice that you need to navigate through the following issues, and many more.
Residential Real Estate
You might have heard differing opinions about whether or not a residential real estate attorney is needed. Consider this fact: The purchase and sale of residential property often is the largest financial transaction of one’s life. Due to their personal nature, residential transactions are also emotionally driven and stressful. Given these facts, residential purchases and sales can be complex and should not be taken lightly. The legal consequences from mistakes or omissions during the buying and selling process can cause you major headaches and unanticipated costs. Buyers and sellers need technical advice about their rights and responsibilities under a contract. Realtors and title company employees are not trained, legally authorized nor expected to provide answers to important and complicated legal questions. Our legal team has decades of experience in handling the array of legal and title issues involved in the purchase or sale of a residence. We navigate clients through the negotiation of the contract, title review, reviewing and explaining closing documentation and settlement statements as well as providing advice on consequences of default should the transaction not close. Our knowledge in residential transactions is also diverse. We have represented individuals, residential developers and homebuilders in the purchase and sale of single family homes, condominiums, equestrian farms and water front mansions. Guidance and assistance of one of our experienced attorneys will protect your interests and ensure a smooth closing process.
Commercial Real Estate
Committing to a commercial real estate deal is a weighty decision. They are often complicated, document-intensive matters and involve a significant investment. Unlike residential real estate deals, parties to a commercial transaction are deemed to be more sophisticated under the law and therefore are afforded less protection. Many of the federal disclosure laws protecting residential purchasers do not apply to a commercial purchase. While this creates flexibility in structuring commercial property deals, it also makes it easy for an unexperienced party to be taken advantage of. Poorly drafted purchase and sale contracts can lead to arguments among the parties, unnecessary expenses and potentially costly litigation. Similarly, failure to identify title issues or properly assess land use risks can turn a good real estate deal bad. Our team of attorneys are committed to assist you in every aspect of your commercial real estate project, and we will do it efficiently and effectively. Among other things, we provide guidance in negotiation and preparation of the sale agreement, conducting diligence, examining and resolving complex title and survey issues and drafting and of closing documents. Our attorneys have practiced at large firms and held in-house positions which not only has provided experience in a variety of real estate market sectors but also brings a unique perspective on handling legal challenges in closing a transaction. Our highly skilled professionals have a strong regional presence in New Mexico and take pride in providing more than just legal advice. We focus on building long term partnerships with our clients and getting them results.
Title Insurance and Closing Services
When acquiring real estate, it is essential to ensure that you are acquiring good legal title to the property. Mistakes in deed chains, unsatisfied liens and undiscovered clouds on title can significantly diminish a property’s value. Along with an experienced real estate attorney’s examination of the legal history of the property, a buyer should purchase title insurance. Title insurance pays you for certain losses that you may suffer in connection with title defects to your real estate. The price of title insurance is promulgated by the State of New Mexico and the party responsible for paying for the premium is normally dictated by local custom. Like all insurance policies, however, there are certain exclusions and limitations that apply which should be carefully considered. Our firm is an agent for several of the largest and financially sound title underwriters in the nation. The attorneys and staff on our team are well trained in real estate and title insurance procedures. We pride ourselves in providing professional, courteous and thorough service. Our special attention to detail, dependability and communication at each stage of the closing process ensure our clients’ closings are hassle-free. We work with clients to achieve a smooth and timely closing whether first-time home buyers or sellers, investors or commercial clients.
A lease is transaction is often more complicated than an outright sale of real estate due to the ongoing relationship between the parties. Parties to a lease spend a great deal of time and energy negotiating terms which will govern the tenancy for years. It is critical to carefully scrutinize the lease agreement to ensure the business terms are incorporated, identify troublesome provisions and provide solutions to address them. Tenant construction allowances, repair obligations, operating expenses, options to extend, tenant exclusivity, surrender and restoration requirements, and personal guaranties are among the issues that you have to address in the context of negotiating a commercial lease. An oversight in drafting can lead to unexpected business expenses, disputes and potentially costly litigation. Whether you are a landlord or tenant, our legal professionals take a personalized, detail-oriented approach to help clients understand their rights and obligations under a lease and safeguard their interests. We guide clients through the complexities of the entire lease transaction. From assisting to the preparation of letters of intent to the negotiation and finalization of the lease agreement, we strive to provide certainty to our clients while minimizing risk and avoiding future disagreements.
Real estate attorneys, like those at Rosebrough & Fowles, can ensure that your lease agreement is clearly written to protect your business interests and avoid costly mistakes.
Our real estate work is done on an hourly basis or on the basis of an individualized fixed fee quote.