BUYING, SELLING OR REFINANCING?
Miami Real Estate Attorneys:
Vacant Land Sales
Miami Real Estate Lawyers Helping Buyers and Sellers of Vacant Land
Vacant land can provide great opportunities for homeowners, commercial builders, and investors. But you must understand the sales process in order to protect your legal rights. Let an experienced Miami real estate attorney protect your property rights, financial interests, and contractual rights throughout any transaction involving the sale of vacant land.
What Makes Vacant Land Sales Different?
Occupied land – whether it is residential or commercial – will be inspected and appraised differently than unoccupied land. Instead of inspecting electrical and plumbing systems, you will need to examine things like surveys and soil logs. You need to have an engineer confirm that you can get critical utilities (like electricity and plumbing) to the property. It is critical that you work with experts who understand the specific challenges posed by the sale of vacant land.
In addition to physical inspections, you will also need legal inspections to ensure there are no claims to the property. Like occupied land, vacant land sales will require a title search. A title search is performed by a real estate attorney or qualified title company. This crucial title search and examination ought not be left up to a non-attorney. At Costa & Associates we go back through the “chain of title” to ensure that the seller can convey clear title to the buyer. The attorney also searches for any outstanding claims to the property (such as tax liens or old debts) that would cloud the title. Title insurance can protect you from unknown claims to the property. Banks will require title insurance if the land is being financed, but even if you pay for the land in cash, it is important to have the protection of title insurance. Title insurance can only be issued once a title search determines that clear title can be conveyed at closing.
Do I Need an Attorney to Represent Me in a Vacant Land Transaction?
Commercial real estate transactions are very different from residential real estate transactions. They pose unique challenges and various issues when it comes to a buyer’s or seller’s legal rights. Even different types of commercial transactions can vary significantly. The purchase of a small apartment building is very different from the purchase of a large shopping complex – even though both properties are zoned for commercial use. This is why it is important to work with an attorney who has specific experience with real estate transactions involving shopping centers.
At Costa and Associates, our Miami real estate attorneys have experience working with buyers and sellers in a shopping center real estate transactions. We have helped many clients protect their legal rights, and we can help develop the best strategy for you, too. Call (305) 827-0100 to schedule your free consultation.
The Right Miami Real Estate Attorneys for Vacant Land Sales
The experienced Miami real estate attorneys at Costa and Associates know how to protect your legal rights at all stages of a real estate transaction involving vacant land. Call (305) 827-0100 to schedule your free consultation.