Pennsylvania Residential Real Estate
Most Pennsylvania residents concur that their homes are the single biggest purchase of their lives. With that in mind, it is logical that property owners want to vigilantly protect that valuable asset. That objective especially holds true at the time of a purchase or sale of a real estate investment.
In buying and selling transactions for residential real estate in Pennsylvania, many homeowners find that their decision to partner with a local real estate agent and a residential real estate attorney with state-specific experience helped immeasurably. Partnering with real estate professionals at the local level serves to help the parties navigate the real estate transaction process smoothly and to meet deadlines as scheduled. Also, teaming up with qualified professionals in the real estate market proves invaluable if challenges arise; experts spot problems early, propose solutions proactively, mitigate losses, and maximize returns on investment.
Mechanics of Residential Real Estate Transactions
There are several distinct stages to a residential real estate purchase or sale transaction in the Commonwealth of Pennsylvania, and homeowners can anticipate the following major steps:
- Buyer and seller in a Pennsylvania residential real estate transaction are required to execute a written contract.
- Buyer is given a set time to conduct a title search on the property and to obtain financing.
- Closing is held, usually at a lawyer’s office.
- Buyer or a representative records the deed after closing.
In residential real estate closings in Pennsylvania, a real estate deed passes ownership from the seller to buyer. The buyer pays the seller the purchase price and the seller tenders the deed, keys, and legal ownership of the property to buyer. Usually a Pennsylvania residential real estate attorney is responsible for recordation of the deed.
Time Matters in Pennsylvania Real Estate Transactions
Pennsylvania residential real estate attorneys know from experience that time matters in the transactions they undertake on behalf of their clients. These lawyers are acutely aware that they must stay on top of the needs of their clients, as well as meet requisite deadlines. It is impossible to provide an exhaustive list of every issue a Pennsylvania residential real estate attorney may face in a typical real estate transaction, but the following are a representative sampling:
- Delays in proposed real estate transactions may hamper the deal.
- Delays in real estate development projects can threaten the entire project and lead to a total loss.
- Residential eviction procedures are time-sensitive both for landlord and tenant clients.
- New homebuyers need to act fast in a bidding war for a desired property and obtain an agreement of sale expeditiously.
Locate a Local Pennsylvania Residential Real Estate Lawyer Today
A Pennsylvania-based residential real estate lawyer represents clients at all stages of transactions and in subsequent litigation, if necessary. They routinely review, analyze, negotiate, and amend real estate contracts to ensure their clients’ best interests are protected. They stand ready to address any problems that arise in real estate transactions, such as in the title search process; with judgment, tax, or property liens; with difficulties obtaining financing on acceptable terms; or when repairs are needed after a home inspection reveals costly defects. Pennsylvania real estate attorneys work collaboratively with other professionals, such as real estate agents, home inspectors, home appraisers, and title examiners to provide full-service assistance to clients. Call now to speak with a residential real estate lawyer in Pennsylvania at 877-913-7222.