Maine, ME Real Estate Lawyers

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For commercial properties such as strip malls or shopping malls that have existing tenants, the attorney will review the terms and make sure the buyer knows the terms of each lease as well as the contracted rent payments.

real estate contract attorney in Maine must request variances, while other properties have pre-existing use permits that need confirmation. All these details need to be researched.

Is the residential real estate attorney worth the expense?

For residential properties, a real estate litigation lawyer in Maine is needed to keep the transaction on course and moving toward the goal line. One function of the attorney is to identify credits for the buyer and seller. On the buyer's end these credits may come in the form of prepaid taxes and prepaid utilities. These dollar amounts are credited to the seller who is proportionately reimbursed. From the buyer's side, the real estate lawyer in Maine will confirm the credits and explain the credits.

Typically problematic areas are the roof, basements and windows. After identifying the damage, the experienced inspector can estimate the costs to fix each item requiring work.

Perhaps the most important duty of the Maine residential real estate attorney is to perform the title search. This process is designed to make sure that any liens on the property are resolved before the deed is exchanged. The title search displays encumbrances as well as liens. In today's economy, a title search is a smart idea. This search protects the buyer by making sure all liens and encumbrances are uncovered. The residential real estate attorney in Maine will then work with the seller's attorney to fix these issues. Many times the seller may not be aware of these liens or encumbrances. If the property is in a homeowner's association, home buyers need to be sure that there are not liens against the property for overdue association fees.