Isn't a real estate agent sufficient?
Buying and selling real estate in Arizona can be straightforward. And competent licensed real estate agents together with standardized forms and escrow companies can make the process even easier.
However, there are aspects of the transaction that real estate agents can’t help with: advising how to hold title, advising regarding tax implications of the transaction, advising regarding contingencies, advising regarding the legal implications of events that occur during the transaction, and the like. Commercial transactions can be more complicated, depending on the nature of the property and other contracts or rights of tenants, option holders, and the like.
The higher the amount of your investment the more you stand to lose if you don’t make the right decisions every step of the way. Investing a small amount into a legal review of the transaction prior to signing purchase or sale documents can potentially save you from losing thousands of dollars later down the line.
If you are already working with a licensed real estate agent, the Firm can coordinate a transaction review with them that is nonetheless protected by the attorney-client privilege. If you are not represented by a licensed real estate agent, you should seriously consider retaining a competent brokerage to represent you. Although the Firm’s wholly-owned subsidiary brokerage, IVAN REALTORS, can assist with the business side of the real estate transaction, we prefer to work with your brokerage of choice.
Below are just some of the aspects a legal review will address.