Real Estate

When selling a home, a lot of homeowners hire a realtor and think that the realtor will handle all of the paperwork and other details. This can be a big mistake. While realtors can be very knowledgeable about home purchases and the local market, it’s a mistake to confuse the realtor’s role in a real estate transaction. Without a real estate lawyer, home sellers tend to make the following mistakes that can easily be avoided just by hiring a lawyer.

Imagine you own a large tract of land, and you discover someone has been using it for years without you even realizing it.  It may seem clear that you can get rid of them without much complication.  After all, we all know it’s wrong to take or borrow something without permission.  What about when a squatter starts living on a property you own? Surprisingly, the law occasionally allows the transfer property rights, even when there is no permission.

So, you’ve purchased your new home. You are excited to settle in. Your first weekend in the new home, you’re sitting in your favorite chair, drinking coffee and watching children play in the beautiful new living room. Then it happens: the air conditioner goes out.  You discover that the HVAC unit needs to be replaced. It’s going to cost thousands for a new unit. You had this inspected before you bought the house, and you did everything to make sure you weren’t buying something defective. Do the sellers have to make this right?  The good news is you may have options, including potentially suing a real estate agent for misrepresentation. The bad news is, the answer may not be as clear as you would like it.

 A lawsuit brought by several Myrtle Beach property owners against AVX Corp. that had been dismissed by a lower court was reinstated and allowed to proceed following a recent South Carolina Supreme Court decision. The lawsuit was brought by property owners who claimed their property values had decreased and they could not obtain bank loans because of ground pollution attributable to AVX Corp.’s Myrtle Beach plant that utilized trichloroethylene (TCE). In reinstating the lawsuit and allowing it to proceed, the South Carolina Supreme Court stated that the property owner’s suit raised the “novel question” of whether South Carolina will recognize “stigma damages.

The Charleston housing market has staged a major comeback since the 2008 housing market crash. New home construction, a primary marker of the health of the market at large, is at its highest level since 2006. There is particularly strong growth in Mount Pleasant and throughout the northern Charleston areas. If you are considering buying and selling a home in this volatile marketplace, it helps to have an attorney representing you in your transaction. A legal professional can guide you through the research and closing process, ensuring that your vital interests are protected. Here are several of the primary reasons why it is important to hire an attorney for your real estate transaction.

Whether you are purchasing a home for your family or a new building for your small business, real estate purchases are some of the most important investments you will make. Before you sign on the dotted line, it helps to make sure that you have done all possible due diligence. At Klok Law Firm, LLC, we provide skilled legal representation to people in Mount Pleasant and throughout the Charleston area in a wide range of real estate transactions. We’ve taken some time here to outline several situations where it helps to retain a knowledgeable real estate attorney.