Owning, buying, renting and remodeling real estate is a huge business. Any one of these can be a business in its own and as such has a huge set of rules and regulations associated with it. When dealing with real estate it is important to have someone on your side that can walk you through all of the legalities and tax issues that you will face. Consulting a real estate attorney austin tx is your first step. The next step is to look at these tips and questions to see if any apply to you.
Is a CO or Certificate of Occupancy required?
A Certificate of Occupancy or CO for short is a document given to the owner of the property to prove that it is safe for people to live in. This is very important to have and to show to lenders and others who may need proof that the building can be lived in.
If I change my mind and decide not to sell do I still owe a commission?
This is a question that needs to be looked into further. When working with a real estate agent they will have a document or contract that you will sign that has all the specifics of the deal. In some cases you may not owe and in others you may. You will have to refer to your contract for details.
Do I get an inspection before or signing a deal?
This varies from state to state. However, it is always a good idea to get an inspection done before making any deals. If the inspector finds something wrong with the property you can easily walk away, however, if you sign and then find something wrong then you may not have any legal recourse to follow. So, air to the side of caution. Get an inspection and work the price into the closing cost of the property.