Buying and selling real estate around the holidays can be difficult for all parties involved. Coming out of a popular time for real estate in October, the market usually shrinks and slows, leaving property in a stagnant state. If you aren’t utilizing a real estate attorney, consider calling one and referencing the following list to prepare for key aspects of the Las Vegas real estate market during the holiday season.
As with any real estate transaction, full disclosure and clear purchase agreements are necessary. For the holidays specifically, sharing and agreeing on these aspects early on can help to elude small details being left out, causing delays. For residential properties, sellers must fill out the Seller’s Real Property Disclosure (SRPD) form sharing any conditions that could affect the property’s value. Including the disclosure, a contractual Las Vegas real estate purchase agreement will be completed before official title transferral. This binding contract between seller and buyer outlines the terms of the purchase and allows for a clear official purchase and transfer of property. In a typically busy Las Vegas real estate market, having an attorney to assist in these aspects can alleviate extra stress and difficulties.
If you are purchasing or selling a second home, a real estate attorney is especially useful considering the extra tax implications. Second homes are taxed differently than first homes so a legal professional can guide you through the process and ensure you’re prepared to pay for the proper federal and state taxes by their deadlines.
Utilizing an attorney for real estate issues is common, but can be more effective if they begin the process with you rather than joining in later when an issue arises. Specifically during the holidays, delays in financing and closing due to personal availability and the general busy season are almost unavoidable. With an attorney, meetings can be scheduled as needed and will be well prepared.
Residential and commercial real estate buying and selling does not require the use of a real estate lawyer in Las Vegas. However, utilizing an attorney can help buyers and sellers alike avoid disclosure issues, unnecessary holdups, and misunderstandings of details.
Have questions regarding Las Vegas real estate and holiday holdups? Contact us at The Law Office of Corey Beck for a reliable real estate attorney near you.
