Real Estate Trends: We’re in a Real Estate Boom!
The real estate industry is in a weird place as we get further away from the peak of the COVID-19 pandemic. While fewer people are looking to sell and fewer houses on the market, more people are looking to buy than ever. We’re in a real estate boom, where demand is high and stock is low. This will lead to more highly-priced home purchases than usual, which makes it even more important to have a Scranton real estate lawyer to protect and guide you.
You Either Just Moved In, or You’re Moving Out
Movers and furniture stores alike are all booked, but Mazzoni Valvano Szewczyk & Karam can always make time for a consultation. After saving all of your money over the pandemic, you want a place you love the next time you may need to be stuck inside. With all the other buyers thinking the same thing, and so few homes available, it’s important to make sure you’re not taken advantage of. There are several things a real estate lawyer will look out for, including:
- Illegal deeds
- Public record errors
- Unknown liens (also known as a security interest created by a mortgage)
- Forged documents
- Missing heirs
- Unknown easement
Any of these things can prevent a sale or allow someone else to make a case against you. A person or business trying to get rid of a property may try to hide this from you in the small text or a property’s history. They can be easy to spot in some instances, and you may catch them yourself, but you won’t know for sure until it’s too late.
When Does it Happen?
There are five steps in the real estate closing process. During that process, any of the aforementioned issues can appear, and you wouldn’t even know.
- Sales Contract
- Title Search
- Document Review
- Closing
- Post-closing
With the real estate boom, sellers will be trying to offload as much as they can. If a property has been on the market for a while for good reason, now would be the time to fluff it up.
You Can Never Be Too Careful
When you want the dream home to spend the rest of your life in and you’ve saved up for so long after a hard year, it pays to go the extra step and get a real estate lawyer who’s only here for you.
If you live in Northeastern Pennsylvania and are currently looking or planning to start looking for a new place to live or work, put your trust in Mazzoni Valvano Szewczyk & Karam today. Don’t let desperation leave you vulnerable to shady tactics and contracts, contact us.
