Buying real estate involves more than just making an offer on a property. You also need to make sure that the purchase agreement is legally enforceable and works in your best interest. While this is simple in most instances, there may come a time when you encounter common real estate legal disputes that can derail your purchase or make it harder to reach an agreement with the seller. Your trusted Minnesota real estate lawyer wants you to be prepared. Here are some common disputes to be aware of and what you can do if you encounter one.
Disputes Over Ownership
For a sale to go through, you must be dealing with the owner of the property. Unfortunately, some properties may have more than one owner or more than one person claiming ownership of the property. These disputes can derail your purchase and keep you from being able to proceed until they’re settled.
Working with an experienced real estate lawyer can help you avoid these disputes. They’ll be able to research the property in detail and may uncover any potential ownership disputes before you’re deep in the buying process.
Title Defects
Title defects can turn into expensive problems if you buy the property before clearing any defects. Some common defects include:
- Liens
- Public record errors
- Unknown or undisclosed easements
If you purchase a property with these defects, you may end up assuming responsibility for their settlement. Depending on the type of defect, this could cost you thousands of dollars. When your money is at risk, it’s essential to work with an attorney. They’ll check for any title defects as part of their due diligence. If they catch any defects, you can then negotiate the terms of the sale with the seller or back out and find a better property.
Boundary Disputes
Boundary disputes are disagreements between property owners over where one property ends and the other begins. These disputes can and should be settled before you purchase the property. Otherwise, you could end up buying a property with different boundaries than you thought you had.
Your real estate lawyer will be able to investigate the dispute and identify accurate property records to show the boundary of the property in question. Your attorney can also help you reach a resolution with the parties involved if needed. Keep in mind that you may need to hire a surveyor to identify an accurate property line prior to negotiating with the seller and their neighbors.
Zoning Disputes
Almost every property is zoned for specific use according to local zoning laws and restrictions. Unfortunately, cities and counties may not always agree with what your property’s documents say, and you could end up in a zoning dispute which jeopardizes how you can use the property once you buy it.
Zoning regulations are easily discovered during the due diligence process, and often disputes can be resolved before closing on the property. But to solve those issues, you’ll need to work with an experienced real estate attorney. They’ll be able to represent your interests with the city or county and, if needed, may help you petition to have the property rezoned to fit your needs.
Speak With a Minnesota Real Estate Lawyer Today
Legal disputes can derail a purchase agreement in no time flat. That’s why working with an experienced real estate attorney as soon as you start looking at properties is always worth your time. Your attorney will be able to research each property you’re interested in, uncover potential issues, and help you find solutions so you can move forward with confidence.
At Waypoint Law, we want to take the stress out of buying and selling real estate. Schedule a free consultation with our team and make your next purchase smoother and faster.