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Are you ready to close on your hot real estate transaction in Rocky Mount, North Carolina? Be sure to hire a closing attorney like Christopher Lusby to ensure your purchase or sale is sound.
As housing prices have soared in Rocky Mount over the last decade, North Carolina real estate buyers and sellers might be tempted to cut corners on closing to cash in on prices while they remain high. Regardless of the state of the market, you should never proceed with a sale or purchase without ensuring that the title is clear and your property is free of liens or other risks.
As a former detective, North Carolina Christopher Lusby knows how to conduct a thorough and meticulous investigation. His law firm serves to help North Carolinians, including in Rocky Mount, avoid common pitfalls and risks, like proceeding with a real estate transaction without a closing lawyer’s review.
So before you buy or sell to take advantage of the boom in prices, get your deal checked out to make sure you are not getting a lot more than you bargained for.
Sticklers will point out that the real estate market in this corner of North Carolina has slowed somewhat in 2023 compared to the explosive growth we have witnessed here in Rocky Mount over the last decade. But the bigger picture shows a clear trend, with real estate price listings doubling since 2016 alone.
This kind of market can be attractive, and indeed, a whole new set of investors are moving in, and others are moving out to sell while they can make a tidy profit. Such profits sometimes invite risky behavior, though, and every deal should be carefully studied by an experienced professional real estate attorney before closing.
Hiring an attorney to supervise the closing and conduct a title search is a legal obligation for a reason, but it is also an expense that some residents of Rocky Mount might be tempted to skip. Here are three key reasons not to do so in a hot real estate market.
Call For An Assessment Of Your Needs Wilson (252) 371-0127
When a market is perceived as particularly strong, investors can be eager to buy quickly to turn a profit, and sellers can be excited to sell fast while the price is right. However, such time pressures on both parties encourage them to proceed with faster-than-normal closings, which can invite a number of risks.
Sellers can take advantage of buyer’s eagerness to skip crucial inspections or rush them, leading to oversights or unforeseen problems further down the line. Alternatively, if problems are found during an initial inspection, the work done to repair or remedy the issue is more likely to be rushed or botched as sellers struggle to find qualified contractors in a hot market or push them to finish too quickly.
While physical problems with the building might conceivably be spotted by a careful buyer going through the building, there is virtually no way to catch legal ones without the help of an experienced attorney.
Owning a building, after all, is less about possession of the physical space and more about the deeds and titles to property. If there is a problem with the title, the property could be partially or entirely claimed by someone else later. A lien from a bank or other creditor, in particular, can become a real threat that you have to fight off in court or risk losing the building to later.
Call For An Assessment Of Your Needs Wilson (252) 371-0127
Individual buyers, sellers, and real estate investors are not the only ones who get interested and involved when prices rise. Municipalities and cities can get quite keen as well, changing zoning rules more actively and rapidly to take advantage of the market’s strength, sometimes at the expense of a buyer who acts too fast.
HOAs, the bane of many a growing suburb, are also hot on the heels of rising markets, pushing up their own fees to reflect and benefit from them. Without proper warning, you could find yourself buying a house in an area you cannot even afford to live in.
No matter what kind of real estate you are buying or why you are choosing to sell, having a real estate attorney review your transaction is vital.
Lusby Law P.C. | Real estate experience you can safely build and buy on.
There are plenty more reasons not to rush your real estate transaction, no matter how attractive the prices might be. But if there is one thing it is always safe to do quickly in the real estate business, it is to hire an experienced closing attorney.
The sooner you get a closing attorney like Christopher Lusby onboard, the faster you can move forward with that real estate transaction. Call (252) 371-0127 right now, or book your free consultation online and move forward with your hot Rocky Mount real estate transaction safe in the knowledge that an experienced attorney is there to help your closing go off without a hitch.
Call For An Assessment Of Your Needs Wilson (252) 371-0127
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. Contacting us does not create an attorney-client relationship.
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