Real estate law relates to owning, possessing, using, and enjoying land and any permanent additions attached to it. Most of us are impacted by real estate law daily, directly or indirectly, as homeowners, renters, landlords, home buyers, home sellers, or commercial property developers.
Buying, selling, and developing property are significant financial transactions that also involve significant risks. Property transactions can be complex. There are many state, local, and federal laws that govern property transactions that are difficult to understand and navigate. A Boise real estate attorney can protect your interests. Smith + Malek’s experienced real estate attorneys can help you handle all aspects of your real estate transactions, including commercial, residential, loans, foreclosures, construction financing, project development, and land use.
Real Estate Lawyer Services We Offer
Our real estate lawyers are prepared to assist you with residential and commercial real estate transactions. Let’s look at some of the services we provide.
Negotiate Deals and Draft Contracts
Real estate law involves multiple parties and various types of documents and contracts. Contracts and sales agreements set out the terms and conditions of real estate transactions. They also encompass the rights and obligations of the parties involved.
If you are unfamiliar with real estate law and its unique vocabulary, your rights may not be fully protected, and you may expose yourself to increased risk. A real estate transaction lawyer can draft, review, edit, and negotiate contracts to include necessary legal requirements and protect your interests throughout the transaction process.
If one party fails to uphold their obligations under the contract, a real estate attorney can also advocate on your behalf in contract disputes. They can negotiate settlements outside of court or represent you in trial if the matter escalates to litigation.
Foreclosures
Foreclosures occur when a lender tries to recover the remaining balance of a mortgage through a court order from a borrower who has ceased making payments or otherwise failed to comply with agreed-upon payment responsibilities. In foreclosure, the lender can auction off a home or resell it.
If you face the daunting prospect of foreclosure and the potential loss of your home, a real estate transaction lawyer can help you understand your options. You may be able to negotiate a deal, file for bankruptcy, seek a short sale, or fight foreclosure in court.
Construction Financing
Construction loans are a key component of the real estate industry. They are a major funding source for the development of new properties and the renovation of existing ones. This type of loan is specifically designed to finance the stages of construction, including land acquisition, construction expenses, and project completion.
Obtaining a construction loan involves the following steps:
- Pre-approval with the lender to establish what loan amount you qualify for;
- Application, inclusive of project timeline, cost projections, and construction plans;
- Project evaluation for the lenders to assess the feasibility of the project;
- Approval of the loan if it meets the lender’s requirements;
- Disbursement of the loan; and
- Project completion.
Construction loans involve numerous contracts between the lender, borrower, contractors, and subcontractors. A Boise real estate lawyer can guide and support you through the process of applying for, receiving, and implementing a construction loan by doing the following:
- Draft, review, and negotiate contracts;
- Perform title searches;
- Develop contingency plans;
- Ensure you secure proper insurance coverage; and
- Advise you on regulatory compliance and risk management.
When attempting to secure such a loan, a real estate lawyer will help you avoid common pitfalls.
Easements
Easements are a critical component of real estate law that can significantly impact property use and value. An easement is a legal right to use another’s land for a specific purpose. This can include utilities like water, gas, or electric lines running through a property, or access easements that allow one property owner to cross another’s land to reach their own. Understanding easements is essential for both residential and commercial property transactions, as they can affect everything from property access to development potential.
At Smith + Malek, our experienced real estate attorneys can help you navigate the complexities of easements. We assist clients in drafting, reviewing, and negotiating easement agreements to ensure that their rights and interests are protected. Whether you need to establish a new easement for a development project or resolve a dispute over an existing one, our team provides comprehensive legal support. We also advise on the implications of easements during property purchases, ensuring that you are fully informed about any encumbrances on the property.
By working with Smith + Malek, you can confidently address any easement-related issues, safeguarding your investment and ensuring the smooth progression of your real estate transactions.
Project Development
Our team of real estate attorneys is experienced in helping clients navigate and understand nearly every aspect of real estate project development from conception to completion. We can assist your real estate project with the following:
- City, state, and federal regulatory requirements;
- Construction;
- Easements;
- Environmental impact assessments and compliance;
- Financing;
- Infrastructure development;
- Land acquisition;
- Master planning;
- Permitting;
- Public hearings;
- Public utilities;
- Regulatory approvals;
- Tax strategies;
- Water and water rights; and
- Zoning and land use.
It is not easy to take a project from the blueprints to reality. Our team of savvy real estate lawyers can help achieve the goal by managing the conflicting needs of developers, lenders, tenants, public officials, and other stakeholders. We work to find common ground and cost-effective solutions.
Hire Smith + Malek as Your Boise Real Estate Attorney
Whether you want to pursue a commercial or residential real estate matter, a Smith + Malek, PLLC, Boise real estate attorney can help. We have been helping clients develop, finance, purchase, sell, and invest in real estate since 2015. Our team of real estate attorneys is experienced in navigating the ins and outs of real estate law in Idaho. They have in-depth knowledge in all areas of real estate law and stay abreast of the latest changes in state, local, and federal laws and regulations. As a small firm, we offer individualized attention to each client. We listen closely to your real estate goals and develop innovative strategies. Contact Smith + Malek today to learn how we can help with your real estate transactions.