Indiana Residential Real Estate
For many Indiana homeowners, their personal residence is their single largest financial investment. So, it's not surprising that these proud property owners are willing to go to great lengths to safeguard their properties, especially when it comes to protecting home values in a volatile or downturned economy.
Essential Advice for Indiana Real Estate Buyers
Buyers should give serious consideration to all phases and aspects of Indiana real estate transactions, especially prior to the execution of a contract to purchase property. While no list can be exhaustive, the following points convey important considerations potential buyers should address:
- Purchase agreements for real estate in Indiana must be in written form and signed by all necessary parties.
- Sellers must provide a “Sellers Sales Disclosure Form,” which buyers should review carefully.
- Obtain a professional property inspection, which should include roof and foundation; electrical, plumbing, heating, and air conditioning systems; wells; septic systems; and radon intrusion.
- Review contingencies in the proposed purchase agreement, which may include inspections, financing, sale of existing residence, and move-in requirements.
- Hire a professional to review the title insurance policy provided by the seller prior to closing. Title insurance confirms the seller has valid legal title to convey.
- Conduct a personal “walk-through” inspection the day prior to closing; do not rely on a Realtor to perform inspections or to render real estate legal advice.
What Should I Look for in a Real Estate Lawyer?
Indiana homeowners should focus their search for real estate lawyers on those with extensive experience in the residential marketplace and conducting residential closings. Some lawyers perform both commercial and residential transactions, while others focus their practices on one or the other. It is also helpful to inquire about the following services when consulting with real estate professionals in Indiana:
- Are the fees for closing costs competitive in the local marketplace?
- Is the law firm or lawyer an agent for major title insurance companies doing business in Indiana?
- Is the law firm or lawyer a preferred or approved closing agent for Indiana's major mortgage lenders?
- Do attorneys conduct closings?
- Do attorneys prepare all documents associated with closings?
- Is the attorney a contract or part-time attorney?
- Is the party you are working with a non-attorney, a notary, or other type of professional?
- What is the typical turnaround for obtaining a refinance?
- What is the typical turnaround for obtaining a reverse mortgage?
- What is the typical turnaround for a purchase transaction?
Locate an Indiana Residential Real Estate Attorney Today
An Indiana residential real estate attorney represents clients pre-sale, during a sale, post-sale, and in litigation should the need arise. Residential real estate attorneys practicing in Indiana review, analyze, negotiate, and amend real estate contracts and other documents to ensure the client’s legal interests are safeguarded under Indiana’s real property and real estate laws. They aid clients in addressing challenges and avoiding pitfalls that may arise in residential real estate transactions, such as may occur with title searches; property, tax, and judgment liens; or after a home inspection that uncovers serious, costly defects. An Indiana residential real estate lawyer provides valuable counsel and insight throughout the real estate transaction by working closely alongside Realtors, inspectors, appraisers, and title examiners to provide full service to their clients. Call now to speak with a residential real estate lawyer in Indiana at 877-913-7222.