Residential Real Estate
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Alaska Residential Real Estate
For most Americans, their residences are their biggest investments. So, it is only natural that we tend to fiercely protect the asset and its value, especially when buying or selling real estate property. Many Alaska homeowners find that the decision to partner with a realtor and a residential real estate attorney serves to help them navigate the real estate transaction process, its challenges, pitfalls, and issues, and maximize their return on investment for their treasured homes.
Mechanics of an Alaska Residential Real Estate Transaction
There are several stages to a residential real estate purchase or sale transaction in Alaska, as in other states:
- Both the buyer and seller in an Alaska residential real estate transaction must sign a written land contract to complete the buy or sell transaction.
- The buyer is given a window of time to conduct a title search on the property and to obtain financing.
- A closing is scheduled and conducted. In an Alaskan residential real estate closing, a real estate deed passes ownership from the seller to the buyer. The buyer pays the seller the purchase price, and seller tenders the deed, keys, and legal ownership of the property to buyer.
- A recordation of the deed by the buyer or his representative takes place. Usually, the party responsible for the deed recordation is an Alaska residential real estate attorney.
What Legal Services Does an Alaska Residential Real Estate Attorney Typically Perform?
Alaska residential real estate lawyers offer legal assistance to homebuyers and sellers in several ways. They assume key roles throughout the duration of the real estate transaction in pre-sale, sale, and post-sale periods. Like realtors, these real estate professionals offer the benefit of experience, training, skills, and objectivity in a process that is often emotionally charged.
A real estate attorney in Alaska helps parties in reviewing, analyzing, and understanding a real estate contract. This is done to make sure the homeowners’ legal and other property interests are sufficiently protected legally. A real estate lawyer can resolve lien disputes and other issues that arise during a real estate transaction to make sure the property is conveyed free and clear. The attorney can help assure the buyer that the seller's title is clear. Often, a residential real estate attorney attends the closing. The attorney makes sure that all closing documents are completed properly and is there to help troubleshoot and remove obstacles to closing. Once closing is completed, he or she makes sure to record the property deed. Residential real estate attorneys in Alaska often handle post-sale litigation, such as with product defects; border, boundary, easement, and right-of-way disputes; foreclosures; short sales; and contract preparation, negotiation, and amendment.
Homeowners Seeking to Sell Alaskan Properties Should Do Their Pre-Listing Homework
Alaskan realtors recommend that before a residential property is listed for sale in today's challenging real estate market, it is crucial to condition the property and spruce it up to its best appearance in anticipation of the arrival of prospective buyer candidates at open houses and showings. Realtors offer the following suggestions of steps homeowners should undertake pre-listing to put their best foot forward to buyers:
- Remove any clutter, which may be moved storage, garage, or attics. Make sure there are minimal décor, furnishings, toys, and other personal effects displayed. It will make the house seem unkempt, disorganized, and smaller
- Remove or eliminate any sources of odor, such as litter boxes, diaper pails, or pet bedding. If possible, eliminate as much evidence of pets for a showing as possible. Let your pet go to a neighbor's house, groomer, vet, kennel, family member, or outside, if possible, at least for the time of the showing. Some prospective buyers may have allergies or phobias, or may simply not be pet people
- Minimize the number of photos, pictures, and other personal effects you have hanging, displayed, or visible because you want a buyer to visualize himself in the home instead of you and your family.
- Consider having a garage/yard sale, donating items, giving items away, and listing excess belongings online to sell. These items cost money to store and/or move, and if they are not being regularly used, they will clutter the home during staging and showings.
- Some owners, particularly those of older properties or in cases where there may be suspicion of difficulties, like to hire a home inspector to conduct a pre-listing inspection. Any buyer will be using a professional home inspector as part of the purchase process, so this gives sellers advanced notice of any future problems with additional lead time to address and remedy identified problems.
- Professional stagers can help arrange furniture and belongings to maximize the appearance and appeal of a home on the market.
What Can Alaska Home Sellers Do to Assist Their Realtors?
Residential realtors share that homeowners who have the best odds of selling their houses quickly are those who work cooperatively and closely, hand in hand with their real estate agents. How can a homeowner accomplish this? The first tip is to make certain that all home showings are coordinated through the realtor and that things are not done through multiple sources in a disorganized and uncoordinated fashion. Secondly, if there is a brochure box or marketing station at the property, make sure that flyers, brochures, cards, and information are regularly stocked. It is frustrating to buyers to visit the residential property and look for such information but not see it. If you, as seller, are approached by a buyer candidate to discuss details of the real estate or property or to negotiate the price or other terms of sale, it is preferable to direct them to a real estate agent. After all, the realtor is hired for that exact purpose and is able to remove emotion from the equation.
Locate a Local Alaska Residential Real Estate Lawyer Today
Alaska residential real estate lawyers represent clients during every phase of a real estate transaction. They can review, analyze, negotiate, and amend real estate contracts and documents to ensure your best interests are preserved and protected under the state's applicable real estate and property laws. Likewise, they can help address any challenges, pitfalls, or problems that might arise, such as through the title search process, with liens, or repairs needed after a problematic home inspection. Alaska residential real estate lawyers can help navigate the entirety of the buy-sell real estate transaction and work in tandem with the realtors, inspectors, appraisers, and title examiners. Call now to speak with a residential real estate attorney in Alaska at 877-913-7222.