Residential Real Estate
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Arizona Residential Real Estate
For many Americans, their home is their biggest single financial investment. Accordingly, it is predictable that we tend to fiercely protect the value of such a large asset. During the course of residential real estate transactions, whether as buyer or seller, many Arizona homeowners find that partnering with a realtor and a residential real estate attorney helps them best navigate the real estate transaction process and maximize their return on investment. Real estate lawyers based in Arizona bring a wealth of experience, knowledge, planning, training, and acumen to the table for all aspects of home ownership, from pre-purchase to purchase, ownership, sale, and even post-sale.
Benefits of Home Ownership in Arizona
In today's down-turned economy, many people are renting, have downsized, or are moving back home to living with family in what's been dubbed a "boomerang" generation. Sometimes, the farthest thing from our minds in a time of challenging economic climate is the purchase or ownership of a home. However, residential real estate lawyers in Arizona and their colleagues in the real estate industry concur that there are undeniable benefits to owning a home, even (and especially) during challenging economic times. For example:
- Home ownership is generally a lucrative real estate investment that appreciates over time and that earns equity.
- Certain income tax savings are available to homeowners.
- Home owners in Arizona can manage and stabilize their monthly housing costs if they purchase a home and secure appropriate financing for their situation, rather than having to face a rental market where rates increase regularly
- Home owners learn financial discipline through setting aside money for mortgage payments and maintenance and repairs to the home, as needed.
- Home ownership is also a basic tenet of the freedoms, rights, and liberties upon which our nation was founded.
- Home ownership reflects the individual styles, tastes, and preferences of the owner in the property, real estate, and residence.
- Home ownership affords residents more space for usage, display, and storage of their personal effects, as well as often more living space and common areas to enjoy.
Realtors and Residential Real Estate Attorneys Warn Home Buyers of Potential Missteps
Residential real estate professionals regularly counsel prospective home buyer clients on some simple things to avoid when they want to enter the home-buying market:
- First and foremost, do not move money around in different accounts, banks, assets, or investments. Such sudden and erratic movements on the eve of a home purchase look highly suspect and questionable to mortgage lenders.
- It is also best not to have a last-minute change in employment, either. Changing jobs and losing the benefit of continuity in an employment history record is potentially damaging when it comes to securing financing and being evaluated by mortgage lenders.
- Finally, it is preferable not to make any major purchases of any kind, such as a room or more of furnishings, large vacation, car, or expensive jewelry. Prospective lenders will carefully review your debt-to-income ratios and the payments you make regularly for items such as vehicles, credit cards, rent or mortgage, and the like. The last thing a conservative lender in challenging economic times wants to see is a borrower who has recently experienced a rise in income but has also decided imprudently to accumulate a great deal of personal property and consumer goods with that modest rise disposable income.
Arizona Residential Real Estate Attorneys Offer Varied Legal Services to Clients
Many homeowners in Arizona are surprised to learn the multiple and varied practice areas and services that are offered by the typical residential real estate lawyer and law firm within the state. For example, germane to current economic times, attorneys practicing in the residential real estate market are skilled at conducting short sales and loan modifications, in many cases. Additionally, they are familiar and adept at how to assist and complement "for sale by owner" clientele in their real estate transactions that may or may not be documented on standard real estate or realtor forms. For those involved in the investment real estate market, these attorneys can help with the negotiation, drafting, and amendment of residential leases. Finally, real estate tax liens can be burdensome, tedious, and cause unnecessary headaches and delays. Fortunately, Arizona residential real estate lawyers are ready to roll up their sleeves and help resolve the messes and hiccups in any real estate transaction a client may face.
Locate a Local Arizona Residential Real Estate Attorney Today
An Arizona residential real estate attorney can represent you pre-sale, during a sale, post-sale, and in any subsequent litigation arising from the sale of a residence. For those interested in buying properties, these lawyers can readily assist in purchase transactions, as well. Residential real estate attorneys in Arizona can review, analyze, negotiate, and amend real estate contracts and documents to ensure your best interests are preserved and protected under state law. They can help you address any challenges, pitfalls, or problems that might arise, such as through the title search process, with property, tax, and other liens, or repairs needed after a home inspection. An Arizona-based residential real estate lawyer can help navigate the entirety of the buy-sell real estate transaction and work in tandem with realtors, inspectors, appraisers, and title examiners. Call now to speak with a residential real estate attorney in Arizona at 877-913-7222.